<PAGE> PAGE 1
000 A000000 06/30/96
000 C000000 948258
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 M FUND, INC.
001 B000000 811-9082
001 C000000 5032326960
002 A000000 RIVER PARK CENTER, 205 SE SPOKANE STREET
002 B000000 PORTLAND
002 C000000 OR
002 D010000 97202
003 000000 Y
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 EDINBURGH OVERSEAS EQUITY FUND
007 C030100 N
007 C010200 2
007 C020200 TURNER CORE GROWTH FUND
007 C030200 N
007 C010300 3
007 C020300 FRONTIER CAPITAL APPRECIATION FUND
007 C030300 N
007 C010400 4
007 C020400 ENHANCED US EQUITY FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
010 A00AA01 INVESTORS BANK & TRUST
<PAGE> PAGE 2
010 B00AA01 85-720
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02205
010 C04AA01 1537
012 A00AA01 INVESTORS BANK & TRUST
012 B00AA01 85-720
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02110
012 C04AA01 1537
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 PORTLAND
013 B02AA01 OR
013 B03AA01 97201
013 B04AA01 5687
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 S.G. WARBURG SECURITIES
020 C000001 6
020 A000002 INSTINET
020 C000002 5
020 A000003 ROBINSON HUMPHREY
020 C000003 4
020 A000004 KIM ENG SECURITIES
020 C000004 2
020 A000005 JARDINE FLEMING
020 C000005 1
020 A000006 KLEINWORT BENSON INC
020 C000006 1
020 A000007 PEREGRINE SECURITIES
020 C000007 1
020 A000008 CREDIT LYONNAISE SECURITIES
020 C000008 1
020 A000009 MERRILL LYNCH PIERCE FENNER & SMITH
020 C000009 1
020 A000010 HOARE GOVETT INTERNATIONAL
020 C000010 1
021 000000 28
022 A000001 MERRILL LYNCH PIERCE FENNER SMITH
022 C000001 224
022 D000001 127
022 A000002 SMITH BARNEY, INC.
022 C000002 256
022 D000002 36
022 A000003 MORGAN STANLEY & CO, INC.
022 C000003 150
022 D000003 63
022 A000004 PERSHING DLJ
022 C000004 86
<PAGE> PAGE 3
022 D000004 80
022 A000005 ALEX BROWN & SONS
022 C000005 114
022 D000005 22
022 A000006 ROBINSON HUMPHREY
022 C000006 132
022 D000006 0
022 A000007 JEFFERIES & CO. INC
022 C000007 109
022 D000007 23
022 A000008 SALOMON BROTHERS INC.
022 C000008 98
022 D000008 27
022 A000009 GOLDMN SACHS CO. INC.
022 C000009 53
022 D000009 65
022 A000010 ROBERTSON STEPHENS
022 C000010 79
022 D000010 12
023 C000000 1933
023 D000000 658
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
<PAGE> PAGE 4
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
058 B00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
<PAGE> PAGE 5
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
077 A000000 N
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 25
083 B00AA00 0
084 B00AA00 0
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086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 M FINANCIAL INVESTMENT ADVISERS, INC.
008 B000101 A
008 C000101 801-50553
008 D010101 PORTLAND
008 D020101 OR
008 D030101 97202
008 A000102 EDINBURGH FUND MANAGERS PLC
008 B000102 S
008 C000102 801-20791
008 D010102 ATLANTA
008 D020102 GA
008 D030102 30308
015 A000101 INVESTORS BANK & TRUST
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
<PAGE> PAGE 6
015 C030101 02205
015 E040101 X
028 A010100 2000
028 A020100 0
028 A030100 0
028 A040100 0
028 B010100 49
028 B020100 0
028 B030100 0
028 B040100 0
028 C010100 10
028 C020100 0
028 C030100 0
028 C040100 0
028 D010100 75
028 D020100 0
028 D030100 0
028 D040100 1
028 E010100 445
028 E020100 0
028 E030100 0
028 E040100 88
028 F010100 63
028 F020100 0
028 F030100 0
028 F040100 3
028 G010100 2642
028 G020100 0
028 G030100 0
028 G040100 92
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 10000
048 A020100 1.050
048 B010100 15000
048 B020100 0.900
048 C010100 75000
048 C020100 0.750
048 D010100 100000
048 D020100 0.600
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048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
<PAGE> PAGE 7
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 Y
069 000100 N
070 A010100 N
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
<PAGE> PAGE 8
070 R010100 N
070 R020100 N
071 A000100 2624
071 B000100 311
071 C000100 2006
071 D000100 16
072 A000100 6
072 B000100 6
072 C000100 20
072 D000100 0
072 E000100 0
072 F000100 11
072 G000100 42
072 H000100 0
072 I000100 0
072 J000100 0
072 K000100 0
072 L000100 0
072 M000100 4
072 N000100 1
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 0
072 S000100 11
072 T000100 0
072 U000100 10
072 V000100 0
072 W000100 3
072 X000100 82
072 Y000100 68
072 Z000100 12
072AA000100 0
072BB000100 9
072CC010100 52
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 139
074 B000100 0
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 2354
074 G000100 0
074 H000100 0
<PAGE> PAGE 9
074 I000100 0
074 J000100 0
074 K000100 43
074 L000100 9
074 M000100 94
074 N000100 2639
074 O000100 10
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 24
074 S000100 0
074 T000100 2605
074 U010100 254
074 U020100 0
074 V010100 10.26
074 V020100 0.00
074 W000100 0.0000
074 X000100 4
074 Y000100 0
075 A000100 0
075 B000100 2191
076 000100 0.00
008 A000201 M FINANCIAL INVESTMENT ADVISERS, INC
008 B000201 A
008 C000201 801-50553
008 D010201 PORTLAND
008 D020201 OR
008 D030201 97202
008 A000202 TURNER INVESTMENT PARTNERS INC
008 B000202 S
008 C000202 801-36220
008 D010202 BERWYN
008 D020202 PA
008 D030202 19312
015 A000201 INVESTORS BANK & TRUST
015 B000201 C
015 C010201 BOSTON
015 C020201 MA
015 C030201 02205
015 E010201 X
028 A010200 1000
028 A020200 0
028 A030200 0
028 A040200 0
028 B010200 0
028 B020200 0
028 B030200 0
028 B040200 0
<PAGE> PAGE 10
028 C010200 177
028 C020200 0
028 C030200 0
028 C040200 0
028 D010200 24
028 D020200 0
028 D030200 0
028 D040200 0
028 E010200 1915
028 E020200 0
028 E030200 0
028 E040200 114
028 F010200 193
028 F020200 0
028 F030200 0
028 F040200 184
028 G010200 3309
028 G020200 0
028 G030200 0
028 G040200 298
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.450
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
<PAGE> PAGE 11
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 3864
071 B000200 979
071 C000200 1641
071 D000200 60
072 A000200 6
072 B000200 5
072 C000200 8
072 D000200 0
<PAGE> PAGE 12
072 E000200 0
072 F000200 4
072 G000200 37
072 H000200 0
072 I000200 0
072 J000200 0
072 K000200 0
072 L000200 0
072 M000200 4
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 0
072 S000200 10
072 T000200 0
072 U000200 10
072 V000200 0
072 W000200 3
072 X000200 68
072 Y000200 62
072 Z000200 7
072AA000200 14
072BB000200 0
072CC010200 142
072CC020200 0
072DD010200 0
072DD020200 0
072EE000200 0
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 46
074 B000200 0
074 C000200 0
074 D000200 0
074 E000200 0
074 F000200 3027
074 G000200 0
074 H000200 0
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074 J000200 25
074 K000200 50
074 L000200 3
074 M000200 94
074 N000200 3245
074 O000200 45
074 P000200 0
074 Q000200 0
074 R010200 0
<PAGE> PAGE 13
074 R020200 0
074 R030200 0
074 R040200 26
074 S000200 0
074 T000200 3174
074 U010200 283
074 U020200 0
074 V010200 11.23
074 V020200 0.00
074 W000200 0.0000
074 X000200 4
074 Y000200 0
075 A000200 0
075 B000200 1678
076 000200 0.00
008 A000301 M FINANCIAL INVESTMENT ADVISERS, INC
008 B000301 A
008 C000301 801-50553
008 D010301 PORTLAND
008 D020301 OR
008 D030301 97202
008 A000302 FRONTIER CAPITAL MANAGEMENT COMPANY, INC
008 B000302 S
008 C000302 801-15724
008 D010302 BOSTON
008 D020302 MA
008 D030302 02110
015 A000301 INVESTORS BANK & TRUST
015 B000301 C
015 C010301 BOSTON
015 C020301 MA
015 C030301 02205
015 E010301 X
028 A010300 1000
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028 C030300 0
028 C040300 0
028 D010300 144
028 D020300 0
028 D030300 0
028 D040300 0
028 E010300 1933
028 E020300 0
<PAGE> PAGE 14
028 E030300 0
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028 F010300 213
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028 F040300 179
028 G010300 3295
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028 G040300 292
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.900
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048 B010300 0
048 B020300 0.000
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048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
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048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 N
070 A020300 N
070 B010300 N
<PAGE> PAGE 15
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 3201
071 B000300 575
071 C000300 1603
071 D000300 36
072 A000300 6
072 B000300 6
072 C000300 2
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072 F000300 7
072 G000300 37
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<PAGE> PAGE 16
072 O000300 0
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072 V000300 0
072 W000300 3
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072 Y000300 62
072 Z000300 -1
072AA000300 49
072BB000300 0
072CC010300 135
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 382
074 B000300 0
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 2760
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 16
074 K000300 49
074 L000300 2
074 M000300 94
074 N000300 3303
074 O000300 35
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 84
074 S000300 0
074 T000300 3184
074 U010300 267
074 U020300 0
074 V010300 11.93
074 V020300 0.00
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<PAGE> PAGE 17
074 X000300 4
074 Y000300 0
075 A000300 0
075 B000300 1670
076 000300 0.00
008 A000401 M FINANCIAL INVESTMENT ADVISERS, INC
008 B000401 A
008 C000401 801-50553
008 D010401 PORTLAND
008 D020401 OR
008 D030401 97202
008 A000402 FRANKLIN PORTFOLIO ASSOCIATES TRUST
008 B000402 S
008 C000402 801-17057
008 D010402 BOSTON
008 D020402 MA
008 D030402 02109
015 A000401 INVESTORS BANK & TRUST CO
015 B000401 C
015 C010401 BOSTON
015 C020401 MA
015 C030401 02110
015 E010401 X
028 A010400 1000
028 A020400 0
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028 D020400 0
028 D030400 0
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028 F030400 0
028 F040400 0
028 G010400 1000
028 G020400 0
028 G030400 0
028 G040400 0
<PAGE> PAGE 18
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.000
048 A010400 25000
048 A020400 0.550
048 B010400 75000
048 B020400 0.450
048 C010400 100000
048 C020400 0.300
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 Y
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
<PAGE> PAGE 19
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 N
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 1288
071 B000400 369
071 C000400 1031
071 D000400 36
072 A000400 6
072 B000400 1
072 C000400 11
072 D000400 0
072 E000400 0
072 F000400 3
072 G000400 38
072 H000400 0
072 I000400 0
072 J000400 0
072 K000400 0
072 L000400 0
072 M000400 4
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 0
072 S000400 10
072 T000400 0
072 U000400 10
072 V000400 0
072 W000400 5
072 X000400 67
<PAGE> PAGE 20
072 Y000400 63
072 Z000400 8
072AA000400 51
072BB000400 0
072CC010400 61
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 40
074 B000400 0
074 C000400 0
074 D000400 0
074 E000400 1030
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 59
074 K000400 51
074 L000400 3
074 M000400 94
074 N000400 1277
074 O000400 74
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 84
074 S000400 0
074 T000400 1119
074 U010400 100
074 U020400 0
074 V010400 11.19
074 V020400 0.00
074 W000400 0.0000
074 X000400 1
074 Y000400 0
075 A000400 0
075 B000400 1080
076 000400 0.00
SIGNATURE TIM OSBORNE
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from M Fund Inc.
financial statements at June 30, 1996
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Edinburgh Overseas Equity Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 2,302,213
<INVESTMENTS-AT-VALUE> 2,353,993
<RECEIVABLES> 181,664
<ASSETS-OTHER> 8,908
<OTHER-ITEMS-ASSETS> 94,110
<TOTAL-ASSETS> 2,638,675
<PAYABLE-FOR-SECURITIES> 10,241
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,547
<TOTAL-LIABILITIES> 33,788
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,550,493
<SHARES-COMMON-STOCK> 253,778
<SHARES-COMMON-PRIOR> 4,000
<ACCUMULATED-NII-CURRENT> 11,761
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,094)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 51,727
<NET-ASSETS> 2,604,887
<DIVIDEND-INCOME> 19,914
<INTEREST-INCOME> 5,678
<OTHER-INCOME> 0
<EXPENSES-NET> 13,831
<NET-INVESTMENT-INCOME> 11,761
<REALIZED-GAINS-CURRENT> (9,094)
<APPREC-INCREASE-CURRENT> 51,727
<NET-CHANGE-FROM-OPS> 54,394
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 258,711
<NUMBER-OF-SHARES-REDEEMED> (8,933)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2,564,887
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 11,172
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 81,531
<AVERAGE-NET-ASSETS> 2,190,738
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.21
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.26
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from M Fund Inc.
financial statements at June 30, 1996
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Turner Core Growth Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 2,884,816
<INVESTMENTS-AT-VALUE> 3,027,269
<RECEIVABLES> 120,702
<ASSETS-OTHER> 3,149
<OTHER-ITEMS-ASSETS> 94,110
<TOTAL-ASSETS> 3,245,230
<PAYABLE-FOR-SECURITIES> 44,673
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 26,146
<TOTAL-LIABILITIES> 70,819
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,011,464
<SHARES-COMMON-STOCK> 282,736
<SHARES-COMMON-PRIOR> 2,000
<ACCUMULATED-NII-CURRENT> 6,771
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13,723
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 142,453
<NET-ASSETS> 3,174,411
<DIVIDEND-INCOME> 7,581
<INTEREST-INCOME> 4,865
<OTHER-INCOME> 0
<EXPENSES-NET> 5,675
<NET-INVESTMENT-INCOME> 6,771
<REALIZED-GAINS-CURRENT> 13,723
<APPREC-INCREASE-CURRENT> 142,453
<NET-CHANGE-FROM-OPS> 162,947
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 307,443
<NUMBER-OF-SHARES-REDEEMED> (26,707)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,154,411
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,648
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 67,862
<AVERAGE-NET-ASSETS> 1,678,441
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 1.21
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.23
<EXPENSE-RATIO> 0.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from M Fund Inc.
financial statements at June 30, 1996
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> Frontier Capital Appreciation Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 2,625,517
<INVESTMENTS-AT-VALUE> 2,760,389
<RECEIVABLES> 446,410
<ASSETS-OTHER> 1,677
<OTHER-ITEMS-ASSETS> 94,110
<TOTAL-ASSETS> 3,302,586
<PAYABLE-FOR-SECURITIES> 34,745
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 83,756
<TOTAL-LIABILITIES> 118,501
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,001,858
<SHARES-COMMON-STOCK> 266,884
<SHARES-COMMON-PRIOR> 2,000
<ACCUMULATED-NII-CURRENT> (1,425)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 48,779
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 134,873
<NET-ASSETS> 3,184,085
<DIVIDEND-INCOME> 1,950
<INTEREST-INCOME> 5,896
<OTHER-INCOME> 0
<EXPENSES-NET> 9,271
<NET-INVESTMENT-INCOME> (1,425)
<REALIZED-GAINS-CURRENT> 48,779
<APPREC-INCREASE-CURRENT> 134,873
<NET-CHANGE-FROM-OPS> 182,227
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 289,154
<NUMBER-OF-SHARES-REDEEMED> (24,270)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,164,085
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7,256
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 71,232
<AVERAGE-NET-ASSETS> 1,669,593
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 1.94
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.93
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from M Fund Inc.
financial statements at June 30, 1996
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> Enhanced U.S. Equity Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 969,215
<INVESTMENTS-AT-VALUE> 1,029,928
<RECEIVABLES> 150,508
<ASSETS-OTHER> 2,218
<OTHER-ITEMS-ASSETS> 94,110
<TOTAL-ASSETS> 1,276,764
<PAYABLE-FOR-SECURITIES> 73,766
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 83,571
<TOTAL-LIABILITIES> 157,337
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,000,000
<SHARES-COMMON-STOCK> 100,000
<SHARES-COMMON-PRIOR> 2,000
<ACCUMULATED-NII-CURRENT> 8,172
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 50,542
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 60,713
<NET-ASSETS> 1,119,427
<DIVIDEND-INCOME> 10,888
<INTEREST-INCOME> 1,484
<OTHER-INCOME> 0
<EXPENSES-NET> 4,200
<NET-INVESTMENT-INCOME> 8,172
<REALIZED-GAINS-CURRENT> 50,542
<APPREC-INCREASE-CURRENT> 60,713
<NET-CHANGE-FROM-OPS> 119,427
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 98,000
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,099,427
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,887
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 67,577
<AVERAGE-NET-ASSETS> 1,079,525
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 1.11
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.19
<EXPENSE-RATIO> 0.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
