-----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, L7LsPIZXsqCCTp96dSwcSf36Yqtch2KeRBdU2FpT3rJq9JbiCqMkLhzsSSJGoYUX VOVtna7fw3Hc+AtgiP6GGQ== 0000950147-99-000167.txt : 19990302 0000950147-99-000167.hdr.sgml : 19990302 ACCESSION NUMBER: 0000950147-99-000167 CONFORMED SUBMISSION TYPE: NSAR-A PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 19981231 FILED AS OF DATE: 19990301 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PILGRIM ADVISORY FUNDS INC CENTRAL INDEX KEY: 0000944689 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 954532342 STATE OF INCORPORATION: MD FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: NSAR-A SEC ACT: SEC FILE NUMBER: 811-09040 FILM NUMBER: 99554212 BUSINESS ADDRESS: STREET 1: 2 RENAISSANCE SQUARE 12TH FLR STREET 2: 40 NORTH CENTRAL CITY: PHOENIX STATE: AZ ZIP: 85004-4424 BUSINESS PHONE: 6024178100 MAIL ADDRESS: STREET 1: 2 RENAISSANCE SQUARE 12TH FLR STREET 2: 40 NORTH CENTRAL CITY: PHOENIX STATE: AZ ZIP: 85004 NSAR-A 1 N-SAR (3.0) PAGE 1 000 A000000 12/31/98 000 C000000 0000944689 000 D000000 N 000 E000000 NF 000 F000000 Y 000 G000000 N 000 H000000 N 000 I000000 3.0 000 J000000 U 001 A000000 PILGRIM ADVISORY FUNDS INC. 001 B000000 811-9040 001 C000000 6024178100 002 A000000 40 NORTH CENTRAL AVENUE, SUITE 1200 002 B000000 PHOENIX 002 C000000 AZ 002 D010000 85004 002 D020000 4408 003 000000 N 004 000000 N 005 000000 N 006 000000 N 007 A000000 Y 007 B000000 3 007 C010100 1 007 C020100 PILGRIM ASIA-PACIFIC EQUITY FUND 007 C030100 N 007 C010200 2 007 C020200 PILGRIM MIDCAP VALUE FUND 007 C030200 N 007 C010300 3 007 C020300 PILGRIM LARGECAP LEADERS FUND 007 C030300 N 007 C010400 4 007 C010500 5 007 C010600 6 007 C010700 7 007 C010800 8 007 C010900 9 007 C011000 10 008 A00AA01 PILGRIM INVESTMENTS, INC. 008 B00AA01 A 008 C00AA01 801-8178 008 D01AA01 PHOENIX 008 D02AA01 AZ 008 D03AA01 85004 008 D04AA01 4408 010 A00AA01 PILGRIM GROUP,INC. 010 C01AA01 PHOENIX 010 C02AA01 AZ 010 C03AA01 85004 010 C04AA01 4408 PAGE 2 011 A00AA01 PILGRIM SECURITIES, INC. 011 B00AA01 8-8272 011 C01AA01 PHOENIX 011 C02AA01 AZ 011 C03AA01 85004 011 C04AA01 4408 012 A00AA01 PILGRIM GROUP, INC. 012 B00AA01 85-00535 012 C01AA01 PHOENIX 012 C02AA01 AZ 012 C03AA01 85004 012 C04AA01 4408 013 A00AA01 KPMG LLP 013 B01AA01 LOS ANGELES 013 B02AA01 CA 013 B03AA01 90017 015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY 015 B00AA01 C 015 C01AA01 KANSAS CITY 015 C02AA01 MO 015 C03AA01 64105 015 E01AA01 X 018 00AA00 Y 019 A00AA00 Y 019 B00AA00 8 019 C00AA00 PILGRIMINV 020 A000001 STANDARD AND POORS 020 B000001 13-2671951 020 C000001 22 020 A000002 JARDINE FLEMING 020 B000002 13-3724403 020 C000002 18 020 A000003 COWEN & CO 020 B000003 13-5616116 020 C000003 17 020 A000004 GOLDMAN SACHS 020 B000004 13-5108880 020 C000004 17 020 A000005 MERRILL LYNCH 020 B000005 13-5674085 020 C000005 17 020 A000006 SMITH BARNEY SHEARSON L. 020 B000006 13-1912900 020 C000006 14 020 A000007 PRUDENTIAL SECURITIES 020 B000007 22-2347336 020 C000007 10 020 A000008 MORGAN STANLEY 020 B000008 13-2656011 020 C000008 10 020 A000009 ING BARINGS PAGE 3 020 B000009 36-3710666 020 C000009 9 020 A000010 AUTRANET 020 B000010 13-2961507 020 C000010 7 021 000000 264 022 A000001 MORGAN STANLEY 022 B000001 13-2655998 022 C000001 2655 022 D000001 169 022 A000002 GOLDMAN SACHS 022 B000002 13-5108880 022 C000002 2376 022 D000002 427 022 A000003 JP MORGAN 022 B000003 13-3224016 022 C000003 1782 022 D000003 201 022 A000004 INVESTMENT MANAGEMENT 022 B000004 59-1531281 022 C000004 1922 022 D000004 0 022 A000005 FIRST BOSTON 022 B000005 13-5659485 022 C000005 1540 022 D000005 0 022 A000006 SMITH BARNEY SHEARSON L. 022 B000006 13-1912900 022 C000006 612 022 D000006 793 022 A000007 FREIDMAN,BILLINGS, RAM 022 B000007 52-1630477 022 C000007 1316 022 D000007 0 022 A000008 COWEN & CO. 022 B000008 13-5616116 022 C000008 237 022 D000008 874 022 A000009 MERRILL LYNCH 022 B000009 13-5674085 022 C000009 203 022 D000009 759 022 A000010 HERZOG, HEINE, GEDULD 022 B000010 13-1955436 022 C000010 0 022 D000010 603 023 C000000 13869 023 D000000 5737 024 00AA00 N 026 A000000 N 026 B000000 Y PAGE 4 026 C000000 N 026 D000000 Y 026 E000000 Y 026 F000000 N 026 G010000 N 026 G020000 N 026 H000000 N 027 000000 Y 054 A00AA00 Y 054 B00AA00 N 054 C00AA00 N 054 D00AA00 N 054 E00AA00 N 054 F00AA00 N 054 G00AA00 Y 054 H00AA00 Y 054 I00AA00 N 054 J00AA00 Y 054 K00AA00 N 054 L00AA00 N 054 M00AA00 Y 054 N00AA00 N 054 O00AA00 N 058 A00AA00 N 059 00AA00 Y 060 A00AA00 Y 060 B00AA00 Y 061 00AA00 1000 062 A00AA00 N 062 B00AA00 0.0 062 C00AA00 0.0 062 D00AA00 0.0 062 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 Y 077 B000000 N 077 C000000 N PAGE 5 077 D000000 N 077 E000000 N 077 F000000 N 077 G000000 N 077 H000000 N 077 I000000 N 077 J000000 N 077 K000000 N 077 L000000 N 077 M000000 N 077 N000000 N 077 O000000 N 077 P000000 N 077 Q010000 Y 077 Q020000 N 077 Q030000 N 080 C00AA00 0 081 B00AA00 0 082 B00AA00 0 083 B00AA00 0 084 B00AA00 0 028 A010100 16775 028 A020100 0 028 A030100 0 028 A040100 17310 028 B010100 7517 028 B020100 0 028 B030100 0 028 B040100 9266 028 C010100 8615 028 C020100 0 028 C030100 0 028 C040100 9639 028 D010100 7779 028 D020100 0 028 D030100 0 028 D040100 6954 028 E010100 10461 028 E020100 0 028 E030100 0 028 E040100 12202 028 F010100 18746 028 F020100 0 028 F030100 0 028 F040100 20843 028 G010100 69893 028 G020100 0 028 G030100 0 028 G040100 76214 028 H000100 65829 029 000100 Y PAGE 6 030 A000100 36 030 B000100 5.75 030 C000100 0.00 031 A000100 6 031 B000100 0 032 000100 30 033 000100 0 034 000100 Y 035 000100 13 036 A000100 Y 036 B000100 0 037 000100 N 038 000100 0 039 000100 N 040 000100 Y 041 000100 Y 042 A000100 0 042 B000100 0 042 C000100 0 042 D000100 0 042 E000100 0 042 F000100 0 042 G000100 0 042 H000100 100 043 000100 72 044 000100 0 045 000100 Y 046 000100 N 047 000100 Y 048 000100 1.250 048 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 0 048 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 PAGE 7 048 K020100 0.000 049 000100 N 050 000100 N 051 000100 N 052 000100 N 053 A000100 Y 053 B000100 Y 053 C000100 N 055 A000100 Y 055 B000100 N 056 000100 Y 057 000100 N 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 Y 070 A020100 Y 070 B010100 Y 070 B020100 N 070 C010100 Y 070 C020100 N 070 D010100 Y 070 D020100 N 070 E010100 Y 070 E020100 N 070 F010100 Y 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 N 070 N020100 N PAGE 8 070 O010100 Y 070 O020100 N 070 P010100 Y 070 P020100 N 070 Q010100 Y 070 Q020100 N 070 R010100 N 070 R020100 N 071 A000100 10727 071 B000100 13030 071 C000100 20878 071 D000100 51 072 A000100 6 072 B000100 75 072 C000100 181 072 D000100 0 072 E000100 0 072 F000100 149 072 G000100 0 072 H000100 0 072 I000100 106 072 J000100 34 072 K000100 6 072 L000100 4 072 M000100 1 072 N000100 31 072 O000100 0 072 P000100 0 072 Q000100 0 072 R000100 1 072 S000100 3 072 T000100 72 072 U000100 13 072 V000100 0 072 W000100 41 072 X000100 458 072 Y000100 175 072 Z000100 -27 072AA000100 0 072BB000100 7603 072CC010100 11564 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 0 074 B000100 0 PAGE 9 074 C000100 0 074 D000100 473 074 E000100 0 074 F000100 23063 074 G000100 0 074 H000100 0 074 I000100 0 074 J000100 0 074 K000100 12 074 L000100 53 074 M000100 567 074 N000100 24168 074 O000100 0 074 P000100 2 074 Q000100 0 074 R010100 0 074 R020100 0 074 R030100 0 074 R040100 1407 074 S000100 0 074 T000100 22759 074 U010100 1894 074 U020100 1833 074 V010100 5.12 074 V020100 5.00 074 W000100 0.0000 074 X000100 8854 074 Y000100 0 075 A000100 0 075 B000100 23720 076 000100 0.00 028 A010200 2980 028 A020200 0 028 A030200 0 028 A040200 3106 028 B010200 1344 028 B020200 0 028 B030200 0 028 B040200 4512 028 C010200 1009 028 C020200 0 028 C030200 0 028 C040200 1461 028 D010200 1086 028 D020200 0 028 D030200 0 028 D040200 1744 028 E010200 1344 028 E020200 0 028 E030200 0 028 E040200 1411 PAGE 10 028 F010200 880 028 F020200 4927 028 F030200 0 028 F040200 2025 028 G010200 8643 028 G020200 4927 028 G030200 0 028 G040200 14259 028 H000200 4317 029 000200 Y 030 A000200 90 030 B000200 5.75 030 C000200 0.00 031 A000200 15 031 B000200 0 032 000200 75 033 000200 0 034 000200 Y 035 000200 34 036 A000200 Y 036 B000200 0 037 000200 N 038 000200 0 039 000200 N 040 000200 Y 041 000200 Y 042 A000200 0 042 B000200 0 042 C000200 0 042 D000200 0 042 E000200 0 042 F000200 0 042 G000200 0 042 H000200 100 043 000200 257 044 000200 0 045 000200 Y 046 000200 N 047 000200 Y 048 000200 1.000 048 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 PAGE 11 048 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 053 C000200 N 055 A000200 N 055 B000200 N 056 000200 Y 057 000200 N 066 A000200 Y 066 B000200 N 066 C000200 Y 066 D000200 N 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 Y 070 B010200 N 070 B020200 N 070 C010200 Y 070 C020200 N 070 D010200 Y 070 D020200 N 070 E010200 Y 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 PAGE 12 070 J010200 Y 070 J020200 N 070 K010200 Y 070 K020200 Y 070 L010200 Y 070 L020200 N 070 M010200 N 070 M020200 N 070 N010200 N 070 N020200 N 070 O010200 Y 070 O020200 N 070 P010200 Y 070 P020200 N 070 Q010200 Y 070 Q020200 N 070 R010200 Y 070 R020200 N 071 A000200 32581 071 B000200 33022 071 C000200 65290 071 D000200 50 072 A000200 6 072 B000200 175 072 C000200 352 072 D000200 0 072 E000200 0 072 F000200 357 072 G000200 0 072 H000200 0 072 I000200 94 072 J000200 14 072 K000200 7 072 L000200 7 072 M000200 3 072 N000200 23 072 O000200 0 072 P000200 0 072 Q000200 0 072 R000200 6 072 S000200 5 072 T000200 257 072 U000200 13 072 V000200 0 072 W000200 45 072 X000200 831 072 Y000200 38 072 Z000200 -266 072AA000200 1098 072BB000200 0 072CC010200 0 PAGE 13 072CC020200 3831 072DD010200 0 072DD020200 0 072EE000200 5341 073 A010200 0.0000 073 A020200 0.0000 073 B000200 1.1738 073 C000200 0.0000 074 A000200 9 074 B000200 3524 074 C000200 0 074 D000200 0 074 E000200 0 074 F000200 69212 074 G000200 0 074 H000200 0 074 I000200 0 074 J000200 232 074 K000200 3 074 L000200 145 074 M000200 71 074 N000200 73196 074 O000200 640 074 P000200 2 074 Q000200 0 074 R010200 0 074 R020200 0 074 R030200 0 074 R040200 290 074 S000200 0 074 T000200 72264 074 U010200 1522 074 U020200 2532 074 V010200 15.05 074 V020200 14.68 074 W000200 0.0000 074 X000200 8426 074 Y000200 0 075 A000200 0 075 B000200 70896 076 000200 0.00 028 A010300 1590 028 A020300 0 028 A030300 0 028 A040300 1975 028 B010300 196 028 B020300 0 028 B030300 0 028 B040300 1576 028 C010300 381 028 C020300 0 PAGE 14 028 C030300 0 028 C040300 515 028 D010300 230 028 D020300 0 028 D030300 0 028 D040300 909 028 E010300 283 028 E020300 0 028 E030300 0 028 E040300 470 028 F010300 924 028 F020300 167 028 F030300 0 028 F040300 508 028 G010300 3604 028 G020300 167 028 G030300 0 028 G040300 5953 028 H000300 1902 029 000300 Y 030 A000300 6 030 B000300 5.75 030 C000300 0.00 031 A000300 1 031 B000300 0 032 000300 5 033 000300 0 034 000300 Y 035 000300 18 036 A000300 Y 036 B000300 0 037 000300 N 038 000300 0 039 000300 N 040 000300 Y 041 000300 Y 042 A000300 0 042 B000300 0 042 C000300 0 042 D000300 0 042 E000300 0 042 F000300 0 042 G000300 0 042 H000300 100 043 000300 96 044 000300 0 045 000300 Y 046 000300 N 047 000300 Y 048 000300 1.000 048 A010300 0 PAGE 15 048 A020300 0.000 048 B010300 0 048 B020300 0.000 048 C010300 0 048 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 0.000 048 H010300 0 048 H020300 0.000 048 I010300 0 048 I020300 0.000 048 J010300 0 048 J020300 0.000 048 K010300 0 048 K020300 0.000 049 000300 N 050 000300 N 051 000300 N 052 000300 N 053 A000300 Y 053 B000300 Y 053 C000300 N 055 A000300 N 055 B000300 N 056 000300 Y 057 000300 N 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 Y 070 A020300 Y 070 B010300 Y 070 B020300 N 070 C010300 Y 070 C020300 N 070 D010300 Y 070 D020300 N PAGE 16 070 E010300 Y 070 E020300 N 070 F010300 Y 070 F020300 N 070 G010300 Y 070 G020300 N 070 H010300 Y 070 H020300 N 070 I010300 N 070 I020300 N 070 J010300 Y 070 J020300 N 070 K010300 Y 070 K020300 N 070 L010300 Y 070 L020300 Y 070 M010300 N 070 M020300 N 070 N010300 N 070 N020300 N 070 O010300 Y 070 O020300 N 070 P010300 Y 070 P020300 N 070 Q010300 Y 070 Q020300 N 070 R010300 N 070 R020300 N 071 A000300 16735 071 B000300 20778 071 C000300 23964 071 D000300 70 072 A000300 6 072 B000300 35 072 C000300 147 072 D000300 0 072 E000300 0 072 F000300 128 072 G000300 0 072 H000300 0 072 I000300 69 072 J000300 5 072 K000300 3 072 L000300 2 072 M000300 1 072 N000300 17 072 O000300 0 072 P000300 0 072 Q000300 0 072 R000300 2 072 S000300 3 PAGE 17 072 T000300 97 072 U000300 13 072 V000300 0 072 W000300 17 072 X000300 357 072 Y000300 65 072 Z000300 -109 072AA000300 2080 072BB000300 0 072CC010300 0 072CC020300 231 072DD010300 0 072DD020300 0 072EE000300 179 073 A010300 0.0000 073 A020300 0.0000 073 B000300 0.1019 073 C000300 0.0000 074 A000300 9 074 B000300 2495 074 C000300 0 074 D000300 0 074 E000300 0 074 F000300 25486 074 G000300 0 074 H000300 0 074 I000300 0 074 J000300 137 074 K000300 10 074 L000300 18 074 M000300 60 074 N000300 28215 074 O000300 0 074 P000300 1 074 Q000300 0 074 R010300 0 074 R020300 0 074 R030300 0 074 R040300 91 074 S000300 0 074 T000300 28123 074 U010300 444 074 U020300 1014 074 V010300 15.79 074 V020300 15.44 074 W000300 0.0000 074 X000300 2748 074 Y000300 0 075 A000300 0 075 B000300 25358 076 000300 0.00 PAGE 18 SIGNATURE MIKE ROLAND TITLE CHIEF FINANCIAL OFFI EX-99.Q1.A.1 2 SUPPLEMENT TO PROSPECTUS SUPPLEMENT DATED NOVEMBER 1, 1998 TO THE PROSPECTUS FOR THE PILGRIM FUNDS DATED NOVEMBER 1, 1998 The Board of Directors of the Funds has approved a change in the name of each Fund (except Pilgrim Government Securities Income Fund), to be effective on November 16, 1998. The Prospectus for the Funds dated November 1, 1998 reflects the new names of each Fund effective on November 16, 1998. The following table shows the name of each Fund as in effect prior to November 16, 1998, and the new names which will become effective on November 16, 1998: NAME PRIOR TO NOVEMBER 16, 1998 NAME EFFECTIVE ON NOVEMBER 16, 1998 - ------------------------------- ----------------------------------- Pilgrim America MagnaCap Fund Pilgrim MagnaCap Fund Pilgrim America Masters LargeCap Pilgrim LargeCap Leaders Fund Value Fund Pilgrim America Masters MidCap Value Fund Pilgrim MidCap Value Fund Pilgrim America Bank and Thrift Fund Pilgrim Bank and Thrift Fund Pilgrim America Masters Asia-Pacific Pilgrim Asia-Pacific Equity Fund Equity Fund Pilgrim America High Yield Fund Pilgrim High Yield Fund Pilgrim Government Securities Pilgrim Government Securities Income Fund Income Fund Each Fund listed above is a series of a registered investment company. The Board of Directors has also approved a change to the name of each such investment company, also to be effective on November 16, 1998. On that date, the name of Pilgrim America Masters Series, Inc. becomes Pilgrim Advisory Funds, Inc., the name of Pilgrim America Investment Funds, Inc. becomes Pilgrim Investment Funds, Inc., and the name of Pilgrim America Bank and Thrift Fund, Inc. becomes Pilgrim Bank and Thrift Fund, Inc. The Prospectus reflects the names of each investment company as they will become effective on November 16, 1998. EX-99.Q1.A.2 3 ARTICLES SUPPLEMENTARY PILGRIM AMERICA MASTERS SERIES, INC. ARTICLES SUPPLEMENTARY PILGRIM AMERICA MASTERS SERIES, INC., a Maryland corporation having its principal office in the State of Maryland in Baltimore City (the "Corporation"), certifies to the State Department of Assessments and Taxation of Maryland that: FIRST: There is hereby established and designated one additional series of Common Stock, designated Strategic Income Fund, consisting of seventy million (70,000,000) shares of the Corporation's authorized capital stock. Seventy million (70,000,000) shares of the Corporation are hereby classified as Strategic Income Fund shares. SECOND: The preference, rights, voting powers, restrictions, limitations as to dividends, qualifications, and terms and conditions of redemptions of shares of Strategic Income Fund are as set forth in Article V of the Articles of Incorporation of the Corporation, as amended. THIRD: Shares of Strategic Income Fund were classified by vote of a majority of the Board of Directors at a meeting on August 3, 1998 in accordance with procedures established in Section 5.4 of Article V of the Corporation's Articles of Incorporation, as amended. IN WITNESS WHEREOF, PILGRIM AMERICA MASTERS SERIES, INC. has caused these presents to be signed in its name and on its behalf by its President and witnessed by its Secretary on ________, 1998. ATTEST: PILGRIM AMERICA MASTERS SERIES, INC. By: __________________________ By: ________________________________ James M. Hennessy Robert W. Stallings Secretary President THE UNDERSIGNED, President of Pilgrim America Masters Series, Inc., who executed on behalf of the Corporation the foregoing Articles Supplementary of which this certificate is made a part, hereby acknowledges that these Articles Supplementary are the act of the Corporation, that to the best of his knowledge, information and belief the matters and facts set forth herein relating to the authorization and approval of the Articles supplementary are true in all material respects and that this statement is made under the penalties of perjury. By: ________________________________ Robert W. Stallings President EX-99.Q1.A.3 4 ARTICLES OF AMENDMENT PILGRIM AMERICA MASTERS SERIES, INC. ARTICLES OF AMENDMENT PILGRIM AMERICA MASTERS SERIES, INC., a Maryland corporation having its principal office in the State of Maryland in Baltimore City (hereinafter called the "Corporation"), hereby certifies to the State Department of Assessments and Taxation of Maryland that: FIRST: The charter of the Corporation is hereby amended by striking out Sections 2.1 and 2.2 of Article II of the Articles of Incorporation and inserting in lieu thereof the following: 2.1 The name of the corporation is Pilgrim America Advisory Funds, Inc. (the "Corporation"). 2.2 The Corporation acknowledges that it uses the name "Pilgrim America" in its corporate name and in the name of any series designated pursuant to Article V hereof only with the permission of Pilgrim America Investments, Inc., a Delaware corporation that serves as investment manager to the Corporation (the "Investment Manager"), and agrees that the Investment Manager shall control the use of the name "Pilgrim America" by the Corporation. The Corporation further agrees that if the Investment Manager, its successors or assigns should at any time cease to be investment manager to the Corporation, the Corporation shall, at the written request of the Investment Manager or its successors or assigns eliminate the name "Pilgrim America" from its corporate name and any materials or documents referring to the Corporation, and henceforth will not use the name "Pilgrim America" in the conduct of the Corporation's business, except to any extent agreed to by the Investment Manager. The Corporation further acknowledges that the Investment Manager reserves the right to grant the non-exclusive right to use the name "Pilgrim America" to any other persons or entities, including other investment companies, whether now in existence or hereafter created. The provisions of this paragraph are binding on the Corporation, its successors and assigns and on its directors, officers, stockholders, creditors and all other persons claiming under or through it. SECOND: The foregoing amendment to such Articles of Incorporation of the Corporation was approved by a majority of the entire Board of Directors of the Corporation; the charter amendment is limited to changes expressly permitted by Section 2-605 of Subtitle 6 of Title 2 of the Maryland General Corporation Law to be made without action by the stockholders, and the Corporation is registered as an open-end investment company under the Investment Company Act of 1940. THIRD: The undersigned President of the Corporation acknowledges these Articles of Amendment to be the corporate act of the Corporation and states to the best of his knowledge, information and belief that the matters and facts set forth in these Articles with respect to authorization and approval are true in all material respects and that this statement is made under the penalties of perjury. IN WITNESS WHEREOF, Pilgrim America Masters Series, Inc. has caused this instrument to be signed in its name and on its behalf by its President, Robert W. Stallings, and attested by its Secretary, James M. Hennessy, on the ___ day of August, 1998. ATTEST: PILGRIM AMERICA MASTERS SERIES, INC. _____________________________ By:_____________________________(SEAL) James M. Hennessy Robert W. Stallings Secretary President -2- EX-27.11 5 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 011 PILGRIM ASIA-PACIFIC EQUITY FUND CLASS A 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-01-1998 DEC-31-1998 1 23842 23536 65 61 506 24168 0 0 1409 1409 0 55775 1894 2648 0 210 0 32283 (523) 9692 181 74 0 282 (27) (7603) 11565 3935 0 0 0 0 14219 14973 0 (2386) 0 0 183 24680 149 0 458 11208 4.46 0.01 0.65 0 0 0 5.12 2.00 0 0

EX-27.12 6 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 012 PILGRIM ASIA-PACIFIC EQUITY FUND CLASS B 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-01-1998 DEC-31-1998 1 23842 23536 65 61 506 24168 0 0 1409 1409 0 55775 1833 2079 0 210 0 32283 (523) 9173 181 74 0 282 (27) (7603) 11565 3935 0 0 0 0 903 1149 0 (2386) 0 0 183 24680 149 0 458 8704 4.37 (0.03) 0.66 0 0 0 5.00 2.75 0 0

EX-27.13 7 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 013 PILGRIM ASIA-PACIFIC EQUITY FUND CLASS M 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-1-1998 DEC-31-1998 1 23842 23536 65 61 506 24168 0 0 1409 1409 0 55775 774 969 0 210 0 32283 (523) 3894 181 74 0 282 (27) (7603) 11565 3935 0 0 0 0 253 448 0 (2386) 0 0 183 24680 149 0 458 3808 4.40 (0.03) 0.66 0 0 0 5.03 2.50 0 0

EX-27.21 8 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 021 PILGRIM MIDCAP VALUE FUND CLASS A 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-01-1998 DEC-31-1998 1 65669 72736 380 80 0 73196 641 0 291 932 0 65936 1522 1637 0 266 0 474 7068 22899 352 175 0 794 (266) 1098 (3831) (2999) 0 0 1682 0 179 399 105 (9027) 0 3768 0 0 357 0 833 22771 16.79 (0.03) (0.54) 0 1.17 0 15.05 1.75 0 0

EX-27.22 9 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 022 PILGRIM MIDCAP VALUE FUND CLASS B 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-01-1998 DEC-31-1998 1 65669 72736 380 80 0 73196 641 0 291 932 0 65936 2532 2464 0 266 0 474 7068 37168 352 175 0 794 (266) 1098 (3831) (2999) 0 0 2760 0 284 404 188 (9027) 0 3768 0 0 357 0 833 36322 16.47 (0.07) (0.55) 0 1.17 0 14.68 2.50 0 0

EX-27.23 10 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 023 PILGRIM MIDCAP VALUE FUND CLASS M 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-01-1998 DEC-31-1998 1 65669 72736 380 80 0 73196 641 0 291 932 0 65936 827 801 0 266 0 474 7068 12197 352 175 0 794 (266) 1098 (3831) (2999) 0 0 899 0 99 134 61 (9027) 0 3768 0 0 357 0 833 11803 16.52 (0.05) (0.55) 0 1.17 0 14.75 2.25 0 0

EX-27.31 11 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 031 PILGRIM LARGECAP LEADERS FUND CLASS A 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-01-1998 DEC-31-1998 1 23527 27981 165 70 0 28216 0 0 93 93 0 21180 444 517 0 109 2599 0 4453 7004 147 35 0 291 (109) 2080 (232) 1739 0 0 44 0 115 191 3 (621) 0 698 0 0 128 0 357 6628 14.70 (0.12) 1.31 0 0.10 0 15.79 1.75 0 0

EX-27.32 12 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 032 PILGRIM LARGECAP LEADERS FUND CLASS B 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-01-1998 DEC-31-1998 1 23527 27981 165 70 0 28216 0 0 93 93 0 21180 1014 1081 0 109 2599 0 4453 15660 147 35 0 291 (109) 2080 (232) 1739 0 0 100 0 123 197 7 (621) 0 698 0 0 128 0 357 13784 14.44 (0.18) 1.28 0 0.10 0 15.44 2.50 0 0

EX-27.33 13 FINANCIAL DATA SCHEDULE
6 944689 PILGRIM ADVISORY FUNDS, INC. 033 PILGRIM LARGECAP LEADERS FUND CLASS M 1,000 U.S. DOLLAR 6-MOS JUN-30-1999 JUL-01-1998 DEC-31-1998 1 23527 27981 165 70 0 28216 0 0 93 93 0 21180 350 380 0 109 2599 0 4453 5459 147 35 0 291 (109) 2080 (232) 1739 0 0 35 0 13 45 2 (621) 0 698 0 0 128 0 357 4946 14.55 (0.17) 1.31 0 0.10 0 15.59 2.25 0 0

~~-----END PRIVACY-ENHANCED MESSAGE-----~~