NSAR-A

      PAGE  1
000 A000000 09/30/95
000 C000000 0000927424
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 KEYSTONE STRATEGIC DEVELOPMENT FUND
001 B000000 811-8694
001 C000000 6173383200
002 A000000 200 BERKELEY STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02160
002 D020000 5034
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
020 A000001 BARINGS SECS LONDON
020 C000001      4
020 A000002 MERRILL LYNCH PIERCE FENNER
020 C000002      4
020 A000003 KOKUSAI
020 C000003      3
020 A000004 CORPORATE ADVANCE RENEWAL
020 C000004      2
020 A000005 JB WERE & SONS
020 C000005      2
020 A000006 MBA SOCIEDAD DEBOLSA SA
020 C000006      2
020 A000007 TIR SECURITIES LTD
020 C000007      2
020 A000008 SALOMON BROTHERS
020 C000008      2
020 A000009 DONALDSON LUFKIN
020 C000009      2
020 A000010 WOOD GUNDY
020 C000010      1
021  000000       31
022 A000001 MERRILL LYNCH
022 C000001       203
022 D000001       487
022 A000002 AMERICAN EXPRESS
022 C000002       265
022 D000002         0
022 A000003 SALOMON BROTHERS
      PAGE  2
022 C000003       225
022 D000003         0
022 A000004 SSB CUSTODIAN
022 C000004         0
022 D000004       210
022 A000005 BEAR STEARNS
022 C000005       100
022 D000005         0
022 A000006 EVEREN CLEARING
022 C000006        99
022 D000006         0
022 A000007 GORDON SECURITIES
022 C000007        72
022 D000007         0
022 C000008         0
022 D000008         0
022 C000009         0
022 D000009         0
022 C000010         0
022 D000010         0
023 C000000     208772
023 D000000     211558
028 A010000         0
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028 A030000       376
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028 B030000       287
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028 C030000       479
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028 E040000      1153
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028 G030000      2300
028 G040000      4063
028 H000000        19
      PAGE  3
029  000000 Y
030 A000000     21
030 B000000  5.75
030 C000000  5.75
031 A000000      1
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032  000000     20
033  000000      0
034  000000 N
035  000000      0
036 B000000      0
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038  000000      0
039  000000 N
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042 C000000 100
042 D000000   0
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042 F000000   0
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042 H000000   0
043  000000     92
044  000000      0
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062 F000000   0.0
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062 J000000   0.0
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062 L000000   0.0
062 M000000   0.0
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062 O000000   0.0
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062 Q000000   0.0
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070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
      PAGE  4
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 N
070 N020000 N
070 O010000 N
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 Y
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000      6062
071 B000000      4740
071 C000000     20389
071 D000000   23
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072 D000000        0
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      PAGE  5
072 S000000        1
072 T000000       92
072 U000000        5
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072 W000000        1
072 X000000      327
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073 A010000   0.0000
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      PAGE  6
076  000000     0.00
077 A000000 Y
077 Q010000 Y
SIGNATURE   KEVIN MORRISSEY                              
TITLE       TREASURER           
 

EX-27

 

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.


<NUMBER>	101
<NAME>	KEYSTONE STRATEGIC DEVELOPMENT FUND CLASS A
<PERIOD-TYPE>	6-MOS
<FISCAL-YEAR-END>	MAR-31-1995
<PERIOD-START>	APR-01-1995
<PERIOD-END>	SEP-30-1995
<INVESTMENTS-AT-COST>	18,701,645
<INVESTMENTS-AT-VALUE>	20,891,368
<RECEIVABLES>	5,062,476
<ASSETS-OTHER>	196,167
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	26,150,011
<PAYABLE-FOR-SECURITIES>	4,508,845
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	0
<TOTAL-LIABILITIES>	4,508,845
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	4,393,305
<SHARES-COMMON-STOCK>	455,417
<SHARES-COMMON-PRIOR>	542,279
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(6,085)
<ACCUMULATED-NET-GAINS>	(299,086)
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	505,899
<NET-ASSETS>	4,594,033
<DIVIDEND-INCOME>	37,209
<INTEREST-INCOME>	11,346
<OTHER-INCOME>	0
<EXPENSES-NET>	(59,194)
<NET-INVESTMENT-INCOME>	(10,639)
<REALIZED-GAINS-CURRENT>	(42,077)
<APPREC-INCREASE-CURRENT>	630,839
<NET-CHANGE-FROM-OPS>	578,123
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	54,135
<NUMBER-OF-SHARES-REDEEMED>	(140,997)
<SHARES-REINVESTED>	0
<NET-CHANGE-IN-ASSETS>	(295,827)
<ACCUMULATED-NII-PRIOR>	4,556
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	(24,997)
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	(62,943)
<AVERAGE-NET-ASSETS>	5,015,983
<PER-SHARE-NAV-BEGIN>	9.02
<PER-SHARE-NII>	(0.02)
<PER-SHARE-GAIN-APPREC>	1.09
<PER-SHARE-DIVIDEND>	0.00
<PER-SHARE-DISTRIBUTIONS>	0.00
<RETURNS-OF-CAPITAL>	0.00
<PER-SHARE-NAV-END>	10.09
<EXPENSE-RATIO>	2.52
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0

 

EX-27

 

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.


<NUMBER>	102
<NAME>	KEYSTONE STRATEGIC DEVELOPMENT FUND CLASS B
<PERIOD-TYPE>	6-MOS
<FISCAL-YEAR-END>	MAR-31-1995
<PERIOD-START>	APR-01-1995
<PERIOD-END>	SEP-30-1995
<INVESTMENTS-AT-COST>	18,701,645
<INVESTMENTS-AT-VALUE>	20,891,368
<RECEIVABLES>	5,062,476
<ASSETS-OTHER>	196,167
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	26,150,011
<PAYABLE-FOR-SECURITIES>	4,508,845
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	0
<TOTAL-LIABILITIES>	4,508,845
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	14,716,667
<SHARES-COMMON-STOCK>	1,523,117
<SHARES-COMMON-PRIOR>	1,634,469
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(118,333)
<ACCUMULATED-NET-GAINS>	(890,963)
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	1,547,334
<NET-ASSETS>	15,254,705
<DIVIDEND-INCOME>	115,395
<INTEREST-INCOME>	34,455
<OTHER-INCOME>	0
<EXPENSES-NET>	(242,566)
<NET-INVESTMENT-INCOME>	(92,716)
<REALIZED-GAINS-CURRENT>	(111,067)
<APPREC-INCREASE-CURRENT>	1,898,159
<NET-CHANGE-FROM-OPS>	1,694,376
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	146,255
<NUMBER-OF-SHARES-REDEEMED>	(257,607)
<SHARES-REINVESTED>	0
<NET-CHANGE-IN-ASSETS>	567,124
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(25,617)
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	(77,899)
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	(254,017)
<AVERAGE-NET-ASSETS>	15,622,622
<PER-SHARE-NAV-BEGIN>	8.99
<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>	10.02
<EXPENSE-RATIO>	3.26
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0

 

EX-27

 

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.


<NUMBER>	103
<NAME>	KEYSTONE STRATEGIC DEVELOPMENT FUND CLASS C
<PERIOD-TYPE>	6-MOS
<FISCAL-YEAR-END>	MAR-31-1995
<PERIOD-START>	APR-01-1995
<PERIOD-END>	SEP-30-1995
<INVESTMENTS-AT-COST>	18,701,645
<INVESTMENTS-AT-VALUE>	20,891,368
<RECEIVABLES>	5,062,476
<ASSETS-OTHER>	196,167
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	26,150,011
<PAYABLE-FOR-SECURITIES>	4,508,845
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	0
<TOTAL-LIABILITIES>	4,508,845
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	1,770,480
<SHARES-COMMON-STOCK>	178,903
<SHARES-COMMON-PRIOR>	155,020
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(12,768)
<ACCUMULATED-NET-GAINS>	(82,988)
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	117,704
<NET-ASSETS>	1,792,428
<DIVIDEND-INCOME>	11,897
<INTEREST-INCOME>	3,377
<OTHER-INCOME>	0
<EXPENSES-NET>	(24,854)
<NET-INVESTMENT-INCOME>	(9,580)
<REALIZED-GAINS-CURRENT>	(7,288)
<APPREC-INCREASE-CURRENT>	178,098
<NET-CHANGE-FROM-OPS>	161,230
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	33,676
<NUMBER-OF-SHARES-REDEEMED>	(9,793)
<SHARES-REINVESTED>	0
<NET-CHANGE-IN-ASSETS>	399,396
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(3,190)
<OVERDIST-NET-GAINS-PRIOR>	0
<GROSS-ADVISORY-FEES>	(8,033)
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	(25,998)
<AVERAGE-NET-ASSETS>	1,608,244
<PER-SHARE-NAV-BEGIN>	8.99
<PER-SHARE-NII>	(0.07)
<PER-SHARE-GAIN-APPREC>	1.10
<PER-SHARE-DIVIDEND>	0.00
<PER-SHARE-DISTRIBUTIONS>	0.00
<RETURNS-OF-CAPITAL>	0.00
<PER-SHARE-NAV-END>	10.02
<EXPENSE-RATIO>	3.24
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0