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Fund Buys

These bond funds have no loads and low expenses and are rated three stars or 
better by Morningstar Inc. They all have initial investment
requirements of $5,000 or under.


FUNDS                        TOTAL RETURN* EXPENSE  BUYING
                                  5-YEAR   RATIO    STRATEGY

(# LONG-TERM
## INTERMEDIATE)

GENERAL
  #  LOOMIS SAYLES BOND            14.02%  0.75  U.S. Treasuries, New Zealand
                                                 debt
  #  CGM FIXED INCOME              11.82   0.85  Less than 50% in bonds
  ## STRONG CORPORATE              10.61   1.00  Media and cable credits
  ## MAS SPECIAL PURPOSE**          8.89   0.49  Yankees***, commercial 
                                                 mortgages

GOVERNMENT
  #  VANGUARD FIXED INCOME LT TREAS 8.68   0.25  15- to 30-year Treasuries
  #  DREYFUS 100% US TREAS. LT      6.98   0.80  Older 30-year Treasuries
  ## SMITH BREEDEN INTERM DUR. GOV. 7.44   0.88  U.S. government issues
  ## VANGUARD FIXED INCOME GNMA     6.86   0.27  GNMAs, 11-year average life

MUNICIPAL (NATIONAL)
  #  EXCELSIOR LONG-TERM TAX EXEMPT 8.98   0.77  Very high-quality credits
  #  T. ROWE PRICE TAX-FR HI-YLD    7.64   0.79  Potential upgrade
                                                 candidates
  ## USAA TAX-EXEMPT INTERM-TERM    6.90   0.37  Investment grade, 5%
                                                 high-yield
  ##  VANGUARD MUNI INTERM-TERM     6.78   0.20  High-quality 10- to 17-year 
                                                 issues

*As of Sept. 30

**An institutional fund sold to retail investors through Jack White & Co. and 
Charles Schwab at minimal transaction fees

***Dollar debt of foreign companies

DATA: MORNINGSTAR INC.





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Updated Oct. 23, 1997 by bwwebmaster
Copyright 1997, Bloomberg L.P.
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