TIME HORIZON FUNDS
NSAR-A, 1999-03-01
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<PAGE>      PAGE  1
000 A000000 12/31/98
000 C000000 0000944309
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 TIME HORIZON FUNDS
001 B000000 811-9024
001 C000000 8007225558
002 A000000 103 BELLEVUE PARKWAY
002 B000000 WILMINGTON
002 C000000 DE
002 D010000 19809
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 PORTFOLIO 1
007 C030100 N
007 C010200  2
007 C020200 PORTFOLIO 2
007 C030200 N
007 C010300  3
007 C020300 PORTFOLIO 3
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 BANK OF AMERICA
008 B00AA01 A
008 C00AA01 801-84000
008 D01AA01 SAN FRANCISCO
008 D02AA01 CA
008 D03AA01 94104
010 A00AA01 BANK OF AMERICA
010 C01AA01 SAN FRANCISCO
010 C02AA01 CA
010 C03AA01 94104
011 A00AA01 PROVIDENT DISTRIBUTORS, INC.
011 B00AA01 8-46564
011 C01AA01 WEST CONSHOHOCKEN
<PAGE>      PAGE  2
011 C02AA01 PA
011 C03AA01 19428
011 C04AA01 2961
012 A00AA01 PFPC, INC.
012 B00AA01 84-0000
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 PRICE WATERHOUSECOOPERS
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
015 A00AA01 PNC BANK, N.A.
015 B00AA01 C
015 C01AA01 LESTER
015 C02AA01 PA
015 C03AA01 19113
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   25
019 C00AA00 PACHORIZON
020 A000001 BOSTON INSTITUTIONAL SERVICES
020 B000001 04-2479358
020 C000001      5
020 A000002 BEAR STEARNS COMPANIES, INC.
020 B000002 13-3299429
020 C000002      5
020 A000003 INVESTMENT TECHNOLOGY GROUP INC.
020 B000003 95-4339369
020 C000003      5
020 A000004 DONALDSON LUFKIN, JENRETTE SEC.
020 B000004 13-2741729
020 C000004      4
020 A000005 BERNSTEIN (SANFORD C.) & CO., INC.
020 B000005 13-2625874
020 C000005      4
020 A000006 SMITH BARNEY, INC.
020 B000006 13-1912900
020 C000006      3
020 A000007 PAINEWEBBER, INC.
020 B000007 13-2638166
020 C000007      3
020 A000008 MORGAN STANLEY GROUP
020 B000008 13-2655998
020 C000008      3
020 A000009 BT ALEX BROWN, INC.
020 B000009 52-1319768
020 C000009      2
020 A000010 GOLDMAN SACHS & CO.
020 B000010 13-5108880
<PAGE>      PAGE  3
020 C000010      2
021  000000       52
022 A000001 SPEAR, LEEDS & KELLOGG
022 B000001 13-5515160
022 C000001      5594
022 D000001     10377
022 A000002 CLARKE (G.X.) & CO.
022 B000002 13-2966143
022 C000002      5534
022 D000002      7081
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003      2001
022 D000003       276
022 A000004 BEREAN CAPITAL
022 B000004 00-0000000
022 C000004      2144
022 D000004         0
022 A000005 MORGAN STANLEY GROUP
022 B000005 13-2655998
022 C000005       346
022 D000005       884
022 A000006 GOLDMAN SACHS & CO.
022 B000006 13-5108880
022 C000006       626
022 D000006       414
022 A000007 SMITH BARNEY
022 B000007 13-1912900
022 C000007       330
022 D000007       376
022 A000008 FUJI SECURITIES
022 B000008 36-2880742
022 C000008       192
022 D000008       465
022 A000009 PRUDENTIAL SECURITIES, INC.
022 B000009 22-2347336
022 C000009       321
022 D000009       270
022 A000010 CANTOR, FITZGERALD CO., INC.
022 B000010 13-3680182
022 C000010        74
022 D000010       264
023 C000000      18730
023 D000000      22021
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
<PAGE>      PAGE  4
026 G020000 N
026 H000000 N
027  000000 Y
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 Y
041  00AA00 Y
045  00AA00 Y
046  00AA00 N
047  00AA00 Y
048  00AA00  0.400
048 A01AA00        0
048 A02AA00 0.000
048 B01AA00        0
048 B02AA00 0.000
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048 C02AA00 0.000
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048 F02AA00 0.000
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048 H02AA00 0.000
048 I01AA00        0
048 I02AA00 0.000
048 J01AA00        0
048 J02AA00 0.000
048 K01AA00        0
048 K02AA00 0.000
049  00AA00 N
050  00AA00 N
051  00AA00 N
052  00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
<PAGE>      PAGE  5
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
058 A00AA00 N
058 B00AA00 N
058 C00AA00 N
058 D00AA00 N
058 E00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
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062 D00AA00   0.0
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062 I00AA00   0.0
062 J00AA00   0.0
062 K00AA00   0.0
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062 N00AA00   0.0
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062 P00AA00   0.0
062 Q00AA00   0.0
062 R00AA00   0.0
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063 B00AA00  0.0
066 A00AA00 Y
066 B00AA00 N
066 C00AA00 N
066 D00AA00 N
066 E00AA00 N
066 F00AA00 N
066 G00AA00 Y
067  00AA00 Y
068 A00AA00 N
068 B00AA00 N
069  00AA00 N
070 A01AA00 Y
070 A02AA00 N
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
<PAGE>      PAGE  6
070 D01AA00 Y
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 Y
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 Y
070 H02AA00 N
070 I01AA00 Y
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 N
070 K01AA00 Y
070 K02AA00 Y
070 L01AA00 Y
070 L02AA00 N
070 M01AA00 Y
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 N
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 N
070 R02AA00 N
077 A000000 N
078  000000 N
080 A00AA00 CHUBB GROUP OF INSURANCE
080 C00AA00     4350
081 A00AA00 Y
081 B00AA00  22
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
024  000100 Y
025 A000101 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
025 B000101 13-2655998
025 C000101 E
025 D000101      71
025 A000102 EDWARDS (AG) INC.
025 B000102 00-0000000
<PAGE>      PAGE  7
025 C000102 E
025 D000102      37
025 A000103 BEAR STEARNS COS, INC.
025 B000103 13-3299429
025 C000103 E
025 D000103     409
025 A000104 MERRILL LYNCH & CO.
025 B000104 13-5674085
025 C000104 E
025 D000104     354
025 A000105 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
025 B000105 13-2655998
025 C000105 D
025 D000105     806
025 A000106 DELETE
025 D000106       0
025 A000107 DELETE
025 D000107       0
025 D000108       0
028 A010100       280
028 A020100         0
028 A030100         0
028 A040100       873
028 B010100        61
028 B020100         0
028 B030100         0
028 B040100      1146
028 C010100       394
028 C020100         0
028 C030100         0
028 C040100       357
028 D010100       138
028 D020100         0
028 D030100         0
028 D040100      1052
028 E010100       386
028 E020100         0
028 E030100         0
028 E040100       450
028 F010100       155
028 F020100      3674
028 F030100         0
028 F040100      1076
028 G010100      1414
028 G020100      3674
028 G030100         0
028 G040100      4954
028 H000100         0
029  000100 Y
030 A000100      0
030 B000100  0.00
<PAGE>      PAGE  8
030 C000100  0.00
031 A000100      0
031 B000100      0
032  000100      0
033  000100      0
034  000100 Y
035  000100      0
036 A000100 N
036 B000100      0
042 A000100   0
042 B000100   0
042 C000100 100
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100    110
044  000100      0
055 A000100 N
055 B000100 N
056  000100 Y
057  000100 N
071 A000100      4509
071 B000100      6662
071 C000100     38065
071 D000100   12
072 A000100  6
072 B000100      791
072 C000100      131
072 D000100        0
072 E000100        0
072 F000100      117
072 G000100        0
072 H000100        0
072 I000100       49
072 J000100       17
072 K000100        0
072 L000100       23
072 M000100       11
072 N000100        9
072 O000100        0
072 P000100        0
072 Q000100       15
072 R000100        8
072 S000100       18
072 T000100      110
072 U000100        3
072 V000100        0
072 W000100       47
072 X000100      427
<PAGE>      PAGE  9
072 Y000100       80
072 Z000100      575
072AA000100      452
072BB000100        0
072CC010100      827
072CC020100        0
072DD010100      889
072DD020100      889
072EE000100     1984
073 A010100   0.0000
073 A020100   0.0000
073 B000100   0.6537
073 C000100   0.0000
074 A000100        0
074 B000100        0
074 C000100      273
074 D000100    24169
074 E000100        0
074 F000100    12096
074 G000100        0
074 H000100        0
074 I000100     2018
074 J000100      339
074 K000100        0
074 L000100      258
074 M000100       39
074 N000100    39192
074 O000100       10
074 P000100       33
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100      205
074 S000100        0
074 T000100    38944
074 U010100     1661
074 U020100     1661
074 V010100     0.00
074 V020100     0.00
074 W000100   0.0000
074 X000100     1829
074 Y000100        0
075 A000100        0
075 B000100    38782
076  000100     0.00
024  000200 Y
025 A000201 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
025 B000201 13-2655998
025 C000201 E
025 D000201      92
<PAGE>      PAGE  10
025 A000202 EDWARD (AG) INC.
025 B000202 00-0000000
025 C000202 E
025 D000202      86
025 A000203 BEAR STEARNS COS, INC.
025 B000203 13-3299429
025 C000203 D
025 D000203     409
025 A000204 MERRILL LYNCH & CO.
025 B000204 13-5674085
025 C000204 D
025 D000204     354
025 A000205 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
025 B000205 13-2655998
025 C000205 D
025 D000205     269
025 A000206 DELETE
025 D000206       0
025 A000207 DELETE
025 D000207       0
025 D000208       0
028 A010200       192
028 A020200         0
028 A030200         0
028 A040200       798
028 B010200       250
028 B020200         0
028 B030200         0
028 B040200       431
028 C010200       106
028 C020200         0
028 C030200         0
028 C040200       756
028 D010200        87
028 D020200         0
028 D030200         0
028 D040200       685
028 E010200       143
028 E020200         0
028 E030200         0
028 E040200       715
028 F010200       112
028 F020200      4993
028 F030200         0
028 F040200       827
028 G010200       890
028 G020200      4993
028 G030200         0
028 G040200      4212
028 H000200         0
029  000200 Y
<PAGE>      PAGE  11
030 A000200      0
030 B000200  0.00
030 C000200  0.00
031 A000200      0
031 B000200      0
032  000200      0
033  000200      0
034  000200 Y
035  000200      0
036 A000200 N
036 B000200      0
042 A000200   0
042 B000200   0
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200    132
044  000200      0
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
071 A000200      8426
071 B000200     10285
071 C000200     46666
071 D000200   18
072 A000200  6
072 B000200      725
072 C000200      258
072 D000200        0
072 E000200        0
072 F000200      144
072 G000200        0
072 H000200        0
072 I000200       60
072 J000200       17
072 K000200        0
072 L000200       28
072 M000200       14
072 N000200        8
072 O000200        0
072 P000200        0
072 Q000200       15
072 R000200        8
072 S000200       22
072 T000200      132
072 U000200        2
072 V000200        0
<PAGE>      PAGE  12
072 W000200       64
072 X000200      514
072 Y000200       92
072 Z000200      561
072AA000200      584
072BB000200        0
072CC010200      980
072CC020200        0
072DD010200      909
072DD020200      908
072EE000200     3224
073 A010200   0.0000
073 A020200   0.0000
073 B000200   0.9024
073 C000200   0.0000
074 A000200        1
074 B000200        0
074 C000200      476
074 D000200    22071
074 E000200        0
074 F000200    21186
074 G000200        0
074 H000200        0
074 I000200     4450
074 J000200      779
074 K000200        0
074 L000200      269
074 M000200       41
074 N000200    49273
074 O000200       26
074 P000200       42
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200      338
074 S000200        0
074 T000200    48867
074 U010200     1976
074 U020200     1975
074 V010200     0.00
074 V020200     0.00
074 W000200   0.0000
074 X000200     2684
074 Y000200        0
075 A000200        0
075 B000200    47519
076  000200     0.00
024  000300 Y
025 A000301 MORGAN STANLEY DEAN WITTER DISCOVER & CO.
025 B000301 13-2655998
<PAGE>      PAGE  13
025 C000301 E
025 D000301     163
025 A000302 EDWARDS (AG), INC.
025 B000302 00-0000000
025 C000302 E
025 D000302     104
025 A000303 BEAR STEARNS COS, INC.
025 B000303 13-3299429
025 C000303 D
025 D000303     409
025 A000304 DELETE
025 D000304       0
025 A000305 DELETE
025 D000305       0
025 D000306       0
025 D000307       0
025 D000308       0
028 A010300       672
028 A020300         0
028 A030300         0
028 A040300       788
028 B010300       171
028 B020300         0
028 B030300         0
028 B040300       705
028 C010300       186
028 C020300         0
028 C030300         0
028 C040300      1670
028 D010300       122
028 D020300         0
028 D030300         0
028 D040300       802
028 E010300       266
028 E020300         0
028 E030300         0
028 E040300       464
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028 F020300      6308
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028 F040300       530
028 G010300      1549
028 G020300      6308
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028 G040300      4959
028 H000300         0
029  000300 Y
030 A000300      0
030 B000300  0.00
030 C000300  0.00
031 A000300      0
<PAGE>      PAGE  14
031 B000300      0
032  000300      0
033  000300      0
034  000300 Y
035  000300      0
036 A000300 N
036 B000300      0
042 A000300   0
042 B000300   0
042 C000300 100
042 D000300   0
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300   0
043  000300    149
044  000300      0
055 A000300 N
055 B000300 N
056  000300 Y
057  000300 N
071 A000300     11347
071 B000300     14857
071 C000300     52386
071 D000300   22
072 A000300  6
072 B000300      568
072 C000300      332
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072 J000300       18
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072 S000300       25
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072 U000300        2
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072 X000300      579
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<PAGE>      PAGE  15
072AA000300      822
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072CC020300        0
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072DD020300      650
072EE000300     5063
073 A010300   0.0000
073 A020300   0.0000
073 B000300   1.3748
073 C000300   0.0000
074 A000300        0
074 B000300        0
074 C000300      946
074 D000300    16381
074 E000300        0
074 F000300    33000
074 G000300        0
074 H000300        0
074 I000300     4659
074 J000300     1006
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074 L000300      206
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074 N000300    56240
074 O000300       36
074 P000300       47
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074 S000300        0
074 T000300    55887
074 U010300     2076
074 U020300     2075
074 V010300     0.00
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074 W000300   0.0000
074 X000300     3572
074 Y000300        0
075 A000300        0
075 B000300    53041
076  000300     0.00
SIGNATURE   MARY JANE MALONEY                            
TITLE       MANAGER             
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 011
   <NAME> PORTFOLIO 1 - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         33971878
<INVESTMENTS-AT-VALUE>                        38556143
<RECEIVABLES>                                   597401
<ASSETS-OTHER>                                   38785
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                39192329
<PAYABLE-FOR-SECURITIES>                         10445
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       237399
<TOTAL-LIABILITIES>                             247844
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      34540686
<SHARES-COMMON-STOCK>                          3321831
<SHARES-COMMON-PRIOR>                          3300434
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          629952
<ACCUMULATED-NET-GAINS>                         449486
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       4584265
<NET-ASSETS>                                  38944485
<DIVIDEND-INCOME>                               131073
<INTEREST-INCOME>                               791424
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (347075)
<NET-INVESTMENT-INCOME>                         575422
<REALIZED-GAINS-CURRENT>                        451734
<APPREC-INCREASE-CURRENT>                       826886
<NET-CHANGE-FROM-OPS>                          1854042
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1147942)
<DISTRIBUTIONS-OF-GAINS>                     (1984335)
<DISTRIBUTIONS-OTHER>                         (629952)
<NUMBER-OF-SHARES-SOLD>                         114677
<NUMBER-OF-SHARES-REDEEMED>                   (404209)
<SHARES-REINVESTED>                             311029
<NET-CHANGE-IN-ASSETS>                       (1774127)
<ACCUMULATED-NII-PRIOR>                         572520
<ACCUMULATED-GAINS-PRIOR>                      1982087
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           117302
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 427033
<AVERAGE-NET-ASSETS>                          38781860
<PER-SHARE-NAV-BEGIN>                            12.47
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                            .35
<PER-SHARE-DIVIDEND>                             (.63)
<PER-SHARE-DISTRIBUTIONS>                        (.65)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.76
<EXPENSE-RATIO>                                   1.20
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 012
   <NAME> PORTFOLIO 1 - CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         33971878
<INVESTMENTS-AT-VALUE>                        38556143
<RECEIVABLES>                                   597401
<ASSETS-OTHER>                                   38785
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                39192329
<PAYABLE-FOR-SECURITIES>                         10445
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       237399
<TOTAL-LIABILITIES>                             247844
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      34540686
<SHARES-COMMON-STOCK>                          3321831
<SHARES-COMMON-PRIOR>                          3300434
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          629952
<ACCUMULATED-NET-GAINS>                         449486
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       4584265
<NET-ASSETS>                                  38944485
<DIVIDEND-INCOME>                               131073
<INTEREST-INCOME>                               791424
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (347075)
<NET-INVESTMENT-INCOME>                         575422
<REALIZED-GAINS-CURRENT>                        451734
<APPREC-INCREASE-CURRENT>                       826886
<NET-CHANGE-FROM-OPS>                          1854042
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1147942)
<DISTRIBUTIONS-OF-GAINS>                     (1984335)
<DISTRIBUTIONS-OTHER>                         (629952)
<NUMBER-OF-SHARES-SOLD>                         114677
<NUMBER-OF-SHARES-REDEEMED>                   (404209)
<SHARES-REINVESTED>                             311029
<NET-CHANGE-IN-ASSETS>                       (1774127)
<ACCUMULATED-NII-PRIOR>                         572520
<ACCUMULATED-GAINS-PRIOR>                      1982087
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           117302
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 427033
<AVERAGE-NET-ASSETS>                          38781860
<PER-SHARE-NAV-BEGIN>                            12.30
<PER-SHARE-NII>                                    .19
<PER-SHARE-GAIN-APPREC>                            .41
<PER-SHARE-DIVIDEND>                             (.54)
<PER-SHARE-DISTRIBUTIONS>                        (.65)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.71
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 013
   <NAME> PORTFOLIO 1 - CLASS K
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         33971878
<INVESTMENTS-AT-VALUE>                        38556143
<RECEIVABLES>                                   597401
<ASSETS-OTHER>                                   38785
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                39192329
<PAYABLE-FOR-SECURITIES>                         10445
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       237399
<TOTAL-LIABILITIES>                             247844
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      34540686
<SHARES-COMMON-STOCK>                          3321831
<SHARES-COMMON-PRIOR>                          3300434
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          629952
<ACCUMULATED-NET-GAINS>                         449486
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       4584265
<NET-ASSETS>                                  38944485
<DIVIDEND-INCOME>                               131073
<INTEREST-INCOME>                               791424
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (347075)
<NET-INVESTMENT-INCOME>                         575422
<REALIZED-GAINS-CURRENT>                        451734
<APPREC-INCREASE-CURRENT>                       826886
<NET-CHANGE-FROM-OPS>                          1854042
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1147942)
<DISTRIBUTIONS-OF-GAINS>                     (1984335)
<DISTRIBUTIONS-OTHER>                         (629952)
<NUMBER-OF-SHARES-SOLD>                         114677
<NUMBER-OF-SHARES-REDEEMED>                   (404209)
<SHARES-REINVESTED>                             311029
<NET-CHANGE-IN-ASSETS>                       (1774127)
<ACCUMULATED-NII-PRIOR>                         572520
<ACCUMULATED-GAINS-PRIOR>                      1982087
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           117302
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 427033
<AVERAGE-NET-ASSETS>                          38781860
<PER-SHARE-NAV-BEGIN>                            12.34
<PER-SHARE-NII>                                    .17
<PER-SHARE-GAIN-APPREC>                            .39
<PER-SHARE-DIVIDEND>                             (.60)
<PER-SHARE-DISTRIBUTIONS>                        (.65)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.65
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 021
   <NAME> PORTFOLIO 2 - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         41410484
<INVESTMENTS-AT-VALUE>                        48183258
<RECEIVABLES>                                  1047352
<ASSETS-OTHER>                                   42472
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                49273082
<PAYABLE-FOR-SECURITIES>                         26546
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       379843
<TOTAL-LIABILITIES>                             406389
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      42287826
<SHARES-COMMON-STOCK>                          3951323
<SHARES-COMMON-PRIOR>                          3804158
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          642500
<ACCUMULATED-NET-GAINS>                         448593
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       6772774
<NET-ASSETS>                                  48866693
<DIVIDEND-INCOME>                               257932
<INTEREST-INCOME>                               725491
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (422362)
<NET-INVESTMENT-INCOME>                         561061
<REALIZED-GAINS-CURRENT>                        583503
<APPREC-INCREASE-CURRENT>                       979719
<NET-CHANGE-FROM-OPS>                          2124283
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1174163)
<DISTRIBUTIONS-OF-GAINS>                     (3223962)
<DISTRIBUTIONS-OTHER>                         (642500)
<NUMBER-OF-SHARES-SOLD>                          69272
<NUMBER-OF-SHARES-REDEEMED>                   (328719)
<SHARES-REINVESTED>                             406612
<NET-CHANGE-IN-ASSETS>                       (1245415)
<ACCUMULATED-NII-PRIOR>                         613102
<ACCUMULATED-GAINS-PRIOR>                      3089052
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           143730
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 514261
<AVERAGE-NET-ASSETS>                          47519414
<PER-SHARE-NAV-BEGIN>                            13.32
<PER-SHARE-NII>                                    .19
<PER-SHARE-GAIN-APPREC>                            .37
<PER-SHARE-DIVIDEND>                             (.55)
<PER-SHARE-DISTRIBUTIONS>                        (.90)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.43
<EXPENSE-RATIO>                                   1.20
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 022
   <NAME> PORTFOLIO 2 - CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         41410484
<INVESTMENTS-AT-VALUE>                        48183258
<RECEIVABLES>                                  1047352
<ASSETS-OTHER>                                   42472
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                49273082
<PAYABLE-FOR-SECURITIES>                         26546
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       379843
<TOTAL-LIABILITIES>                             406389
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      42287826
<SHARES-COMMON-STOCK>                          3951323
<SHARES-COMMON-PRIOR>                          3804158
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          642500
<ACCUMULATED-NET-GAINS>                         448593
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       6772774
<NET-ASSETS>                                  48866693
<DIVIDEND-INCOME>                               257932
<INTEREST-INCOME>                               725491
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (422362)
<NET-INVESTMENT-INCOME>                         561061
<REALIZED-GAINS-CURRENT>                        583503
<APPREC-INCREASE-CURRENT>                       979719
<NET-CHANGE-FROM-OPS>                          2124283
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1174163)
<DISTRIBUTIONS-OF-GAINS>                     (3223962)
<DISTRIBUTIONS-OTHER>                         (642500)
<NUMBER-OF-SHARES-SOLD>                          69272
<NUMBER-OF-SHARES-REDEEMED>                   (328719)
<SHARES-REINVESTED>                             406612
<NET-CHANGE-IN-ASSETS>                       (1245415)
<ACCUMULATED-NII-PRIOR>                         613102
<ACCUMULATED-GAINS-PRIOR>                      3089052
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           143730
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 514261
<AVERAGE-NET-ASSETS>                          47519414
<PER-SHARE-NAV-BEGIN>                            13.12
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                            .44
<PER-SHARE-DIVIDEND>                             (.45)
<PER-SHARE-DISTRIBUTIONS>                        (.90)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.34
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 023
   <NAME> PORTFOLIO 2 - CLASS K
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         41410484
<INVESTMENTS-AT-VALUE>                        48183258
<RECEIVABLES>                                  1047352
<ASSETS-OTHER>                                   42472
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                49273082
<PAYABLE-FOR-SECURITIES>                         26546
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       379843
<TOTAL-LIABILITIES>                             406389
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      42287826
<SHARES-COMMON-STOCK>                          3951323
<SHARES-COMMON-PRIOR>                          3804158
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          642500
<ACCUMULATED-NET-GAINS>                         448593
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       6772774
<NET-ASSETS>                                  48866693
<DIVIDEND-INCOME>                               257932
<INTEREST-INCOME>                               725491
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (422362)
<NET-INVESTMENT-INCOME>                         561061
<REALIZED-GAINS-CURRENT>                        583503
<APPREC-INCREASE-CURRENT>                       979719
<NET-CHANGE-FROM-OPS>                          2124283
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (1174163)
<DISTRIBUTIONS-OF-GAINS>                     (3223962)
<DISTRIBUTIONS-OTHER>                         (642500)
<NUMBER-OF-SHARES-SOLD>                          69272
<NUMBER-OF-SHARES-REDEEMED>                   (328719)
<SHARES-REINVESTED>                             406612
<NET-CHANGE-IN-ASSETS>                       (1245415)
<ACCUMULATED-NII-PRIOR>                         613102
<ACCUMULATED-GAINS-PRIOR>                      3089052
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           143730
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 514261
<AVERAGE-NET-ASSETS>                          47519414
<PER-SHARE-NAV-BEGIN>                            13.14
<PER-SHARE-NII>                                    .14
<PER-SHARE-GAIN-APPREC>                            .41
<PER-SHARE-DIVIDEND>                             (.51)
<PER-SHARE-DISTRIBUTIONS>                        (.90)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.28
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 031
   <NAME> PORTFOLIO 3 - CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         45563756
<INVESTMENTS-AT-VALUE>                        54985840
<RECEIVABLES>                                  1212217
<ASSETS-OTHER>                                   42386
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                56240443
<PAYABLE-FOR-SECURITIES>                         36312
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       316724
<TOTAL-LIABILITIES>                             353036
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      46204378
<SHARES-COMMON-STOCK>                          4150818
<SHARES-COMMON-PRIOR>                          3918803
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          494758
<ACCUMULATED-NET-GAINS>                         755703
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       9422084
<NET-ASSETS>                                  55887407
<DIVIDEND-INCOME>                               332282
<INTEREST-INCOME>                               568052
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (471932)
<NET-INVESTMENT-INCOME>                         428402
<REALIZED-GAINS-CURRENT>                        821775
<APPREC-INCREASE-CURRENT>                      1304740
<NET-CHANGE-FROM-OPS>                          2554917
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (805939)
<DISTRIBUTIONS-OF-GAINS>                     (5063121)
<DISTRIBUTIONS-OTHER>                         (494758)
<NUMBER-OF-SHARES-SOLD>                         109080
<NUMBER-OF-SHARES-REDEEMED>                   (360844)
<SHARES-REINVESTED>                             483779
<NET-CHANGE-IN-ASSETS>                        (909580)
<ACCUMULATED-NII-PRIOR>                         377537
<ACCUMULATED-GAINS-PRIOR>                      4997049
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           160432
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 578718
<AVERAGE-NET-ASSETS>                          53041484
<PER-SHARE-NAV-BEGIN>                            14.66
<PER-SHARE-NII>                                    .14
<PER-SHARE-GAIN-APPREC>                            .51
<PER-SHARE-DIVIDEND>                             (.41)
<PER-SHARE-DISTRIBUTIONS>                       (1.37)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.53
<EXPENSE-RATIO>                                   1.20
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 032
   <NAME> PORTFOLIO 3 - CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         45563756
<INVESTMENTS-AT-VALUE>                        54985840
<RECEIVABLES>                                  1212217
<ASSETS-OTHER>                                   42386
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                56240443
<PAYABLE-FOR-SECURITIES>                         36312
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       316724
<TOTAL-LIABILITIES>                             353036
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      46204378
<SHARES-COMMON-STOCK>                          4150818
<SHARES-COMMON-PRIOR>                          3918803
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          494758
<ACCUMULATED-NET-GAINS>                         755703
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       9422084
<NET-ASSETS>                                  55887407
<DIVIDEND-INCOME>                               332282
<INTEREST-INCOME>                               568052
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (471932)
<NET-INVESTMENT-INCOME>                         428402
<REALIZED-GAINS-CURRENT>                        821775
<APPREC-INCREASE-CURRENT>                      1304740
<NET-CHANGE-FROM-OPS>                          2554917
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (805939)
<DISTRIBUTIONS-OF-GAINS>                     (5063121)
<DISTRIBUTIONS-OTHER>                         (494758)
<NUMBER-OF-SHARES-SOLD>                         109080
<NUMBER-OF-SHARES-REDEEMED>                   (360844)
<SHARES-REINVESTED>                             483779
<NET-CHANGE-IN-ASSETS>                        (909580)
<ACCUMULATED-NII-PRIOR>                         377537
<ACCUMULATED-GAINS-PRIOR>                      4997049
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           160432
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 578718
<AVERAGE-NET-ASSETS>                          53041484
<PER-SHARE-NAV-BEGIN>                            14.44
<PER-SHARE-NII>                                    .08
<PER-SHARE-GAIN-APPREC>                            .58
<PER-SHARE-DIVIDEND>                             (.29)
<PER-SHARE-DISTRIBUTIONS>                       (1.37)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.44
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000944309
<NAME> TIME HORIZON FUNDS
<SERIES>
   <NUMBER> 033
   <NAME> PORTFOLIO 3 - CLASS K
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          JUN-30-1999
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                         45563756
<INVESTMENTS-AT-VALUE>                        54985840
<RECEIVABLES>                                  1212217
<ASSETS-OTHER>                                   42386
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                56240443
<PAYABLE-FOR-SECURITIES>                         36312
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       316724
<TOTAL-LIABILITIES>                             353036
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      46204378
<SHARES-COMMON-STOCK>                          4150818
<SHARES-COMMON-PRIOR>                          3918803
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          494758
<ACCUMULATED-NET-GAINS>                         755703
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       9422084
<NET-ASSETS>                                  55887407
<DIVIDEND-INCOME>                               332282
<INTEREST-INCOME>                               568052
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (471932)
<NET-INVESTMENT-INCOME>                         428402
<REALIZED-GAINS-CURRENT>                        821775
<APPREC-INCREASE-CURRENT>                      1304740
<NET-CHANGE-FROM-OPS>                          2554917
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (805939)
<DISTRIBUTIONS-OF-GAINS>                     (5063121)
<DISTRIBUTIONS-OTHER>                         (494758)
<NUMBER-OF-SHARES-SOLD>                         109080
<NUMBER-OF-SHARES-REDEEMED>                   (360844)
<SHARES-REINVESTED>                             483779
<NET-CHANGE-IN-ASSETS>                        (909580)
<ACCUMULATED-NII-PRIOR>                         377537
<ACCUMULATED-GAINS-PRIOR>                      4997049
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           160432
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 578718
<AVERAGE-NET-ASSETS>                          53041484
<PER-SHARE-NAV-BEGIN>                            14.51
<PER-SHARE-NII>                                    .11
<PER-SHARE-GAIN-APPREC>                            .52
<PER-SHARE-DIVIDEND>                             (.35)
<PER-SHARE-DISTRIBUTIONS>                       (1.37)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.42
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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