-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, RBFoGKBoUqcRLhnJMJyBkPQrznf5BH0Y9yVfwwF2OBsNFRhMxOT0IqOmQSoalyId J/ksqX0lNj/va8jW42zH5A== 0000933996-96-000005.txt : 19961231 0000933996-96-000005.hdr.sgml : 19961231 ACCESSION NUMBER: 0000933996-96-000005 CONFORMED SUBMISSION TYPE: NSAR-B PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 19961031 FILED AS OF DATE: 19961230 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: 1838 INVESTMENT ADVISORS FUNDS CENTRAL INDEX KEY: 0000933996 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 232794406 STATE OF INCORPORATION: DE FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: NSAR-B SEC ACT: 1940 Act SEC FILE NUMBER: 811-08902 FILM NUMBER: 96687561 BUSINESS ADDRESS: STREET 1: FIVE RADNOR CORPORATE CENTER SUITE 320 STREET 2: 100 MATSONFORD ROAD CITY: RADNOR STATE: PA ZIP: 19087 BUSINESS PHONE: 6102934300 MAIL ADDRESS: STREET 1: FIVE RADNOR CORPORATE CENTER SUITE 320 STREET 2: 100 MATSONFORD ROAD CITY: RADNOR STATE: PA ZIP: 19087 NSAR-B 1 N-SAR (3.0) PAGE 1 000 B000000 10/31/96 000 C000000 0000933996 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 3.0 000 J000000 A 001 A000000 1838 INVESTMENT ADVISORS FUNDS 001 B000000 811-8902 001 C000000 6102934300 002 A000000 5 RADNOR CORP. CENTER, 100 MATSONFORD RD 002 B000000 RADNOR 002 C000000 PA 002 D010000 19087 003 000000 Y 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 2 007 C010100 1 007 C020100 1838 INTERNATIONAL EQUITY FUND 007 C030100 N 007 C010200 2 007 C020200 1838 SMALL CAP EQUITY FUND 007 C030200 N 007 C010300 3 007 C010400 4 007 C010500 5 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C011000 10 008 A00AA01 1838 INVESTMENT ADVISORS, L.P. 008 B00AA01 A 008 C00AA01 801-33025 008 D01AA01 RADNOR 008 D02AA01 PA 008 D03AA01 19087 008 A00AA02 MEESPIERSON 1838 INVESTMENT ADVISORS 008 B00AA02 S 008 C00AA02 801-47860 008 D01AA02 RADNOR 008 D02AA02 PA 008 D03AA02 19087 010 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION 010 B00AA01 801-22071 010 C01AA01 WILMINGTON PAGE 2 010 C02AA01 DE 010 C03AA01 19890 010 C04AA01 0001 011 A00AA01 RODNEY SQUARE DISTRIBUTORS, INC. 011 B00AA01 8-37006 011 C01AA01 WILMINGTON 011 C02AA01 DE 011 C03AA01 19890 011 C04AA01 0001 012 A00AA01 RODNEY SQUARE MANAGEMENT CORPORATION 012 B00AA01 85-000761 012 C01AA01 WILMINGTON 012 C02AA01 DE 012 C03AA01 19890 012 C04AA01 0001 013 A00AA01 COOPERS & LYBRAND LLP 013 B01AA01 PHILADELPHIA 013 B02AA01 PA 013 B03AA01 19103 018 00AA00 Y 019 A00AA00 Y 019 B00AA00 2 019 C00AA00 1838INVEST 020 A000001 GOLDMAN, SACHS & CO. 020 B000001 13-5108880 020 C000001 59 020 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH 020 B000002 13-5674085 020 C000002 57 020 A000003 STANDARD & POOR'S SECURITES INC. 020 C000003 5 020 A000004 MCDONALD & COMPANY, INC. 020 C000004 3 020 A000005 MORGAN STANLEY & CO. INC. 020 B000005 13-2655998 020 C000005 2 020 A000006 SALOMON BROTHERS INC. 020 B000006 13-3082694 020 C000006 2 020 A000007 BEAR, STEARNS & CO. INC. 020 B000007 13-3299429 020 C000007 1 020 A000008 TIR SECURITIES, INC. 020 B000008 13-3506065 020 C000008 0 020 A000009 SMITH BARNEY SHEARSON INC. 020 B000009 13-1912900 020 C000009 0 020 A000010 DONALDSON, LUFKIN & JENRETTE SEC. CORP. 020 B000010 13-2741729 020 C000010 0 PAGE 3 021 000000 134 022 A000001 FORD MOTOR CREDIT CORP. 022 C000001 122025 022 D000001 0 022 A000002 PRUDENTIAL SECURITIES INC. 022 B000002 22-2347336 022 C000002 89816 022 D000002 25 022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH 022 B000003 13-5674085 022 C000003 73428 022 D000003 533 022 A000004 AMERICAN EXPRESS CREDIT CORP. 022 C000004 70523 022 D000004 0 022 A000005 GENERAL ELECTRIC CAPITAL CORP. 022 C000005 5925 022 D000005 0 022 A000006 GOLDMAN, SACHS & CO.ITAL CORP. 022 B000006 13-5108880 022 C000006 4350 022 D000006 469 022 A000007 BANQUE PARIBUS 022 C000007 2883 022 D000007 0 022 A000008 ASSOCIATES CORP. OF N.A. 022 C000008 2587 022 D000008 0 022 A000009 HOUSEHOLD FINANCE 022 C000009 2413 022 D000009 0 022 A000010 CIT GROUP HOLDINGS 022 C000010 1500 022 D000010 0 023 C000000 381808 023 D000000 3084 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 PAGE 4 031 B00AA00 0 032 00AA00 0 033 00AA00 0 034 00AA00 N 035 00AA00 0 036 B00AA00 0 037 00AA00 N 038 00AA00 0 039 00AA00 N 040 00AA00 N 041 00AA00 N 055 A00AA00 N 055 B00AA00 N 056 00AA00 Y 057 00AA00 N 058 A00AA00 N 059 00AA00 Y 060 A00AA00 Y 060 B00AA00 Y 061 00AA00 1000 066 A00AA00 Y 066 B00AA00 N 066 C00AA00 Y 066 D00AA00 N 066 E00AA00 N 066 F00AA00 N 067 00AA00 N 068 A00AA00 N 068 B00AA00 Y 069 00AA00 N 077 A000000 Y 077 B000000 Y 077 Q010000 Y 077 Q020000 N 077 Q030000 N 078 000000 N 080 A00AA00 CHUBB GROUP 080 C00AA00 600 081 A00AA00 Y 081 B00AA00 2 082 A00AA00 Y 082 B00AA00 25 083 A00AA00 N 083 B00AA00 0 084 A00AA00 N 084 B00AA00 0 085 A00AA00 Y 085 B00AA00 N 086 A010000 0 086 A020000 0 086 B010000 0 PAGE 5 086 B020000 0 086 C010000 0 086 C020000 0 086 D010000 0 086 D020000 0 086 E010000 0 086 E020000 0 086 F010000 0 086 F020000 0 086 A01AA00 0 086 A02AA00 0 086 B01AA00 0 086 B02AA00 0 086 C01AA00 0 086 C02AA00 0 086 D01AA00 0 086 D02AA00 0 086 E01AA00 0 086 E02AA00 0 086 F01AA00 0 086 F02AA00 0 015 A000101 BANKERS TRUST COMPANY 015 B000101 C 015 C010101 NEW YORK 015 C020101 NY 015 C030101 10017 015 E010101 X 015 A000102 CITIBANK N.A. 015 B000102 S 015 C010102 BUENOS AIRES 015 D010102 ARGENTINA 015 E040102 X 015 A000103 AUSTRALIA AND NEW ZEALAND BANKING GROUP LTD. 015 B000103 S 015 C010103 MELBOURNE 015 D010103 AUSTRALIA 015 E040103 X 015 A000104 CREDITANDSTALT BANKVEREIN 015 B000104 S 015 C010104 VIENNA 015 D010104 AUSTRIA 015 E040104 X 015 A000105 GENERALE BANK 015 B000105 S 015 C010105 BRUSSELS 015 D010105 BELGIUM 015 E040105 X 015 A000106 CITIBANK N.A. 015 B000106 S 015 C010106 SAO PAULO 015 D010106 BRAZIL PAGE 6 015 E040106 X 015 A000107 TORONTO DOMINION BANK 015 B000107 S 015 C010107 TORONTO 015 D010107 CANADA 015 E040107 X 015 A000108 CITIBANK N.A. 015 B000108 S 015 C010108 SANTIAGO 015 D010108 CHILE 015 E040108 X 015 A000109 DEN DANSKE BANK 015 B000109 S 015 C010109 COPENHAGEN 015 D010109 DENMARK 015 E040109 X 015 A000110 MERITA BANK, LTD. 015 B000110 S 015 C010110 HELSINKI 015 D010110 FINLAND 015 E040110 X 015 A000111 BANQUE PARIBAS 015 B000111 S 015 C010111 PARIS 015 D010111 FRANCE 015 E040111 X 015 A000112 DRESDNER BANK AG 015 B000112 S 015 C010112 FRANKFURT 015 D010112 GERMANY 015 E040112 X 015 A000113 NATIONAL BANK OF GREECE 015 B000113 S 015 C010113 ATHENS 015 D010113 GREECE 015 E040113 X 015 A000114 STANDARD CHARTERED BANK 015 B000114 S 015 C010114 CENTRAL 015 D010114 HONG KONG 015 E040114 X 015 A000115 HONG KONG & SHANGHAI BANKING CORP. LTD. 015 B000115 S 015 C010115 BOMBAY 015 D010115 INDIA 015 E040115 X 015 A000116 STANDARD CHARTERED BANK 015 B000116 S 015 C010116 JAKARTA 015 D010116 INDONESIA 015 E040116 X PAGE 7 015 A000117 CITIBANK N.A. 015 B000117 S 015 C010117 MILAN 015 D010117 ITALY 015 E040117 X 015 A000118 BANK OF TOKYO LTD. 015 B000118 S 015 C010118 TOKYO 015 D010118 JAPAN 015 E040118 X 015 A000119 STANDARD CHARTERED BANK 015 B000119 S 015 C010119 SEOUL 015 D010119 SOUTH KOREA 015 E040119 X 015 A000120 BANCOMBER S.A. 015 B000120 S 015 C010120 MEXICO CITY 015 D010120 MEXICO 015 E040120 X 015 A000121 ABN AMRO BANK 015 B000121 S 015 C010121 AMSTERDAM 015 D010121 NETHERLANDS 015 E040121 X 015 A000122 EUROCLEAR NORWAY 015 B000122 S 015 C010122 BRUSSELS 015 D010122 BELGIUM 015 E040122 X 015 A000123 CITIBANK N.A. 015 B000123 S 015 C010123 LIMA 015 D010123 PERU 015 E040123 X 015 A000124 STANDARD CHARTERED BANK 015 B000124 S 015 C010124 MANILA 015 D010124 PHILIPINES 015 E040124 X 015 A000125 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA 015 B000125 S 015 C010125 LISBON 015 D010125 PORTUGAL 015 E040125 X 015 A000126 UNITED OVERSEAS BANK LTD. 015 B000126 S 015 C010126 SINGAPORE 015 D010126 SINGAPORE 015 E040126 X 015 A000127 BANCO SANTANDER PAGE 8 015 B000127 S 015 C010127 MADRID 015 D010127 SPAIN 015 E040127 X 015 A000128 SVENSKA HANDELSBANKEN 015 B000128 S 015 C010128 STOCKHOLM 015 D010128 SWEDEN 015 E040128 X 015 A000129 SWISS BANK CORPORATION 015 B000129 S 015 C010129 ZURICH 015 D010129 SWITZERLAND 015 E040129 X 015 A000130 THE CENTRAL TRUST OF CHINA 015 B000130 S 015 C010130 TAIPEI 015 D010130 TAIWAN 015 E040130 X 015 A000131 STANDARD CHARTERED BANK 015 B000131 S 015 C010131 BANGKOK 015 D010131 THAILAND 015 E040131 X 015 A000132 BANKERS TRUST COMPANY 015 B000132 S 015 C010132 LONDON 015 D010132 UNITED KINGDOM 015 E040132 X 015 A000133 DEUTSEHE BANK AG 015 B000133 S 015 C010133 BOMBAY 015 D010133 INDIA 015 E040133 X 015 A000134 STANDARD CHARTERED BANK 015 B000134 S 015 C010134 BOMBAY 015 D010134 INDIA 015 E040134 X 024 000100 N 025 D000101 0 025 D000102 0 025 D000103 0 025 D000104 0 025 D000105 0 025 D000106 0 025 D000107 0 025 D000108 0 028 A010100 437 028 A020100 0 028 A030100 0 PAGE 9 028 A040100 0 028 B010100 1507 028 B020100 0 028 B030100 0 028 B040100 0 028 C010100 4489 028 C020100 0 028 C030100 0 028 C040100 0 028 D010100 6812 028 D020100 0 028 D030100 0 028 D040100 4233 028 E010100 1048 028 E020100 0 028 E030100 0 028 E040100 7 028 F010100 999 028 F020100 0 028 F030100 0 028 F040100 442 028 G010100 15292 028 G020100 0 028 G030100 0 028 G040100 4682 028 H000100 0 042 A000100 0 042 B000100 0 042 C000100 0 042 D000100 0 042 E000100 0 042 F000100 0 042 G000100 0 042 H000100 0 043 000100 0 044 000100 0 045 000100 Y 046 000100 N 047 000100 Y 048 000100 0.750 048 A010100 0 048 A020100 0.000 048 B010100 0 048 B020100 0.000 048 C010100 0 048 C020100 0.000 048 D010100 0 048 D020100 0.000 048 E010100 0 048 E020100 0.000 048 F010100 0 PAGE 10 048 F020100 0.000 048 G010100 0 048 G020100 0.000 048 H010100 0 048 H020100 0.000 048 I010100 0 048 I020100 0.000 048 J010100 0 048 J020100 0.000 048 K010100 0 048 K020100 0.000 049 000100 N 050 000100 N 051 000100 N 052 000100 N 053 A000100 Y 053 B000100 Y 053 C000100 N 054 A000100 Y 054 B000100 Y 054 C000100 N 054 D000100 N 054 E000100 N 054 F000100 N 054 G000100 N 054 H000100 Y 054 I000100 N 054 J000100 Y 054 K000100 N 054 L000100 N 054 M000100 Y 054 N000100 N 054 O000100 N 062 A000100 N 062 B000100 0.0 062 C000100 0.0 062 D000100 0.0 062 E000100 0.0 062 F000100 0.0 062 G000100 0.0 062 H000100 0.0 062 I000100 0.0 062 J000100 0.0 062 K000100 0.0 062 L000100 0.0 062 M000100 0.0 062 N000100 0.0 062 O000100 0.0 062 P000100 0.0 062 Q000100 0.0 062 R000100 0.0 PAGE 11 063 A000100 0 063 B000100 0.0 070 A010100 Y 070 A020100 N 070 B010100 Y 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 Y 070 G020100 N 070 H010100 Y 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 N 070 P020100 N 070 Q010100 N 070 Q020100 N 070 R010100 N 070 R020100 N 071 A000100 40144 071 B000100 16404 071 C000100 27750 071 D000100 59 072 A000100 12 072 B000100 85 072 C000100 532 072 D000100 0 072 E000100 -49 072 F000100 80 072 G000100 41 072 H000100 0 072 I000100 15 PAGE 12 072 J000100 38 072 K000100 0 072 L000100 13 072 M000100 22 072 N000100 21 072 O000100 0 072 P000100 0 072 Q000100 49 072 R000100 27 072 S000100 12 072 T000100 0 072 U000100 26 072 V000100 0 072 W000100 19 072 X000100 363 072 Y000100 0 072 Z000100 205 072AA000100 0 072BB000100 370 072CC010100 2065 072CC020100 0 072DD010100 79 072DD020100 0 072EE000100 0 073 A010100 0.0430 073 A020100 0.0000 073 B000100 0.0000 073 C000100 0.0000 074 A000100 0 074 B000100 0 074 C000100 868 074 D000100 0 074 E000100 0 074 F000100 41172 074 G000100 0 074 H000100 0 074 I000100 514 074 J000100 458 074 K000100 0 074 L000100 102 074 M000100 97 074 N000100 43211 074 O000100 1389 074 P000100 29 074 Q000100 0 074 R010100 0 074 R020100 0 074 R030100 0 074 R040100 584 074 S000100 0 074 T000100 41209 PAGE 13 074 U010100 3946 074 U020100 0 074 V010100 10.44 074 V020100 0.00 074 W000100 0.0000 074 X000100 99 074 Y000100 0 075 A000100 0 075 B000100 29098 076 000100 0.00 015 A000201 WILMINGTON TRUST COMPANY 015 B000201 C 015 C010201 WILMINGTON 015 C020201 DE 015 C030201 19890 015 C040201 0001 015 E010201 X 024 000200 N 025 A000201 DELETE 025 D000201 0 025 D000202 0 025 D000203 0 025 D000204 0 025 D000205 0 025 D000206 0 025 D000207 0 025 D000208 0 028 A010200 0 028 A020200 0 028 A030200 0 028 A040200 0 028 B010200 2356 028 B020200 0 028 B030200 0 028 B040200 0 028 C010200 2690 028 C020200 0 028 C030200 0 028 C040200 0 028 D010200 520 028 D020200 0 028 D030200 0 028 D040200 40 028 E010200 18 028 E020200 0 028 E030200 0 028 E040200 232 028 F010200 14 028 F020200 0 028 F030200 0 028 F040200 0 PAGE 14 028 G010200 5598 028 G020200 0 028 G030200 0 028 G040200 272 028 H000200 0 042 A000200 0 042 B000200 0 042 C000200 0 042 D000200 0 042 E000200 0 042 F000200 0 042 G000200 0 042 H000200 0 043 000200 0 044 000200 0 045 000200 Y 046 000200 N 047 000200 Y 048 000200 0.750 048 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 0.000 049 000200 N 050 000200 N 051 000200 N 052 000200 N 053 A000200 Y 053 B000200 Y 054 A000200 Y 054 B000200 Y 054 C000200 N 054 D000200 N PAGE 15 054 E000200 N 054 F000200 N 054 G000200 N 054 H000200 Y 054 I000200 N 054 J000200 Y 054 K000200 N 054 L000200 N 054 M000200 Y 054 N000200 N 054 O000200 N 062 A000200 N 062 B000200 0.0 062 C000200 0.0 062 D000200 0.0 062 E000200 0.0 062 F000200 0.0 062 G000200 0.0 062 H000200 0.0 062 I000200 0.0 062 J000200 0.0 062 K000200 0.0 062 L000200 0.0 062 M000200 0.0 062 N000200 0.0 062 O000200 0.0 062 P000200 0.0 062 Q000200 0.0 062 R000200 0.0 063 A000200 0 063 B000200 0.0 070 A010200 Y 070 A020200 N 070 B010200 Y 070 B020200 N 070 C010200 N 070 C020200 N 070 D010200 Y 070 D020200 N 070 E010200 N 070 E020200 N 070 F010200 Y 070 F020200 N 070 G010200 Y 070 G020200 N 070 H010200 Y 070 H020200 N 070 I010200 N 070 I020200 N 070 J010200 Y 070 J020200 N PAGE 16 070 K010200 Y 070 K020200 Y 070 L010200 Y 070 L020200 N 070 M010200 Y 070 M020200 N 070 N010200 Y 070 N020200 N 070 O010200 Y 070 O020200 N 070 P010200 N 070 P020200 N 070 Q010200 N 070 Q020200 N 070 R010200 N 070 R020200 N 071 A000200 4080 071 B000200 1594 071 C000200 4499 071 D000200 35 072 A000200 5 072 B000200 2 072 C000200 10 072 D000200 0 072 E000200 0 072 F000200 0 072 G000200 19 072 H000200 0 072 I000200 6 072 J000200 7 072 K000200 0 072 L000200 0 072 M000200 4 072 N000200 2 072 O000200 0 072 P000200 0 072 Q000200 15 072 R000200 5 072 S000200 7 072 T000200 0 072 U000200 0 072 V000200 0 072 W000200 0 072 X000200 65 072 Y000200 44 072 Z000200 -9 072AA000200 0 072BB000200 47 072CC010200 157 072CC020200 0 072DD010200 0 PAGE 17 072DD020200 0 072EE000200 0 073 A010200 0.0000 073 A020200 0.0000 073 B000200 0.0000 073 C000200 0.0000 074 A000200 3 074 B000200 0 074 C000200 58 074 D000200 0 074 E000200 0 074 F000200 5361 074 G000200 0 074 H000200 0 074 I000200 0 074 J000200 2 074 K000200 16 074 L000200 2 074 M000200 0 074 N000200 5442 074 O000200 0 074 P000200 0 074 Q000200 0 074 R010200 0 074 R020200 0 074 R030200 0 074 R040200 14 074 S000200 0 074 T000200 5428 074 U010200 567 074 U020200 0 074 V010200 9.57 074 V020200 0.00 074 W000200 0.0000 074 X000200 9 074 Y000200 0 075 A000200 0 075 B000200 4493 076 000200 0.00 SIGNATURE ANNA BENCROWSKI TITLE SECRETARY EX-27 2
6 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1838 INVESTMENT ADVISORS FUNDS ANNUAL REPORT DATED OCTOBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERNCE TO THE ANNUAL REPORT DATED OCTOBER 31, 1996. 0000933996 1838 INVESTMENT ADVISORS FUNDS 1 1838 INTERNATIONAL EQUITY FUND 12-MOS OCT-31-1996 NOV-01-1995 OCT-31-1996 40648 42040 560 611 0 43211 1389 0 613 2002 0 40013 3946 1745 203 0 (393) 0 1386 41209 532 85 (48) 364 205 (370) 2065 1900 0 79 0 0 2654 461 8 24445 40 13 0 0 218 0 525 29098 9.61 0.07 0.80 0.04 0 0 10.44 1.25 0 0

EX-27 3
6 THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE 1838 INVESTMENT ADVISORS FUNDS' ANNUAL REPORT DATED OCTOBER 31, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO THE ANNUAL REPORT DATED OCTOBER 31, 1996. 0000933996 1838 INVESTMENT ADVISORS FUNDS 2 1838 SMALL CAP EQUITY FUND 12-MOS OCT-31-1996 JUN-17-1996 OCT-31-1996 5262 5419 4 19 0 5442 0 0 14 14 0 5318 567 0 0 0 (47) 0 157 5428 10 2 0 21 (9) (47) 157 101 0 0 0 0 597 30 0 5428 0 0 0 0 13 0 78 4493 10.00 (0.02) (0.41) 0 0 0 9.57 1.25 0 0

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