<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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SIGNATURE MARY JANE MALONEY
TITLE REGULATORY MANAGER
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<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (15.11)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000944515
<NAME> THE CRM FUNDS
<SERIES>
<NUMBER> 2
<NAME> CRM MID CAP VALUE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 888110
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 38853
<INTEREST-INCOME> 23198
<OTHER-INCOME> 0
<EXPENSES-NET> (46227)
<NET-INVESTMENT-INCOME> (15824)
<REALIZED-GAINS-CURRENT> (424211)
<APPREC-INCREASE-CURRENT> (1344997)
<NET-CHANGE-FROM-OPS> (1753384)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 538430
<NUMBER-OF-SHARES-REDEEMED> (155609)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 9886686
<ACCUMULATED-NII-PRIOR> 11930
<ACCUMULATED-GAINS-PRIOR> 504311
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30148
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 78922
<AVERAGE-NET-ASSETS> 1961245
<PER-SHARE-NAV-BEGIN> 11.13
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (11.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.15
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000944515
<NAME> THE CRM FUNDS
<SERIES>
<NUMBER> 3
<NAME> CRM LARGE CAP VALUE FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 2542363
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 81863
<INTEREST-INCOME> 18933
<OTHER-INCOME> 0
<EXPENSES-NET> (104375)
<NET-INVESTMENT-INCOME> (3579)
<REALIZED-GAINS-CURRENT> (1479014)
<APPREC-INCREASE-CURRENT> (3115041)
<NET-CHANGE-FROM-OPS> (4597724)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 78754
<NUMBER-OF-SHARES-REDEEMED> (1580142)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (30935706)
<ACCUMULATED-NII-PRIOR> 2524
<ACCUMULATED-GAINS-PRIOR> 139903
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 52188
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 139175
<AVERAGE-NET-ASSETS> 20705324
<PER-SHARE-NAV-BEGIN> 12.17
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (12.17)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.50
</TABLE>
EXHIBIT INDEX
EXHIBIT A:
Attachment to item 77C: Submission of matters to a vote of
Security holders.
- ------------------------------------------------------------------
EXHIBIT A:
Sub-Item 77C:
Submission Of Matters To A Vote Of Security Holders.
A Special Meeting of Shareholders of the Trust was held at the
offices of the The CRM Fund's administrator at 400 Bellevue
Parkway, Wilmington, Delaware 19809 on October 22, 1999 at 11:00
a.m. shareholders voted on the following proposals as indicated
below:
1) To approve an Agreement and Plan of Reorganization (the
"Plan") for each CRM Fund providing for the transfer of
the Fund's assets to a newly-created fund (a "Successor
Fund") in exchange for shares of equal value of the
Successor Fund, followed by the distribution of such shares
to the CRM Fund's shareholders and the dissolution of the
CRM Fund, as described in the accompanying Proxy Statement:
Small Cap Value Fund
Shares Voted For: 5,774,394.65
% of shares present voted "for" 93.70
Shares Voted Against: 2,589.85
% of shares present voted "against" 0.04
Shares Not Voted: 385,556.39
% of shares present not voted 6.26
Mid Cap Value Fund
Shares Voted For: 1,239,348.34
% of shares present voted "for" 99.89
Shares Voted Against: 1,360.59
% of shares present voted "against" 0.11
Shares Not Voted: 0.00
% of shares present not voted 0.00
Large Cap Value Fund
Shares Voted For: 1,421,846.59
% of shares present voted "for" 96.96
Shares Voted Against: 44,563.84
% of shares present voted "against" 3.04
Shares Not Voted: 0.00
% of shares present not voted 0.00
