WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 32,097,719
<INVESTMENTS-AT-VALUE> 30,480,203
<RECEIVABLES> 660,839
<ASSETS-OTHER> 10,448
<OTHER-ITEMS-ASSETS> 10,001
<TOTAL-ASSETS> 31,161,491
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,346
<TOTAL-LIABILITIES> 9,346
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32,945,817
<SHARES-COMMON-STOCK> 45,616
<SHARES-COMMON-PRIOR> 36,659
<ACCUMULATED-NII-CURRENT> 21,033
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (197,189)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,617,516)
<NET-ASSETS> 31,152,145
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,123,285
<OTHER-INCOME> 0
<EXPENSES-NET> (172,458)
<NET-INVESTMENT-INCOME> 950,827
<REALIZED-GAINS-CURRENT> (124,477)
<APPREC-INCREASE-CURRENT> (520,488)
<NET-CHANGE-FROM-OPS> 305,862
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (10,730)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,791
<NUMBER-OF-SHARES-REDEEMED> (2,680)
<SHARES-REINVESTED> 846
<NET-CHANGE-IN-ASSETS> (2,266,338)
<ACCUMULATED-NII-PRIOR> 20,312
<ACCUMULATED-GAINS-PRIOR> (72,712)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 78,389
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 210,511
<AVERAGE-NET-ASSETS> 31,834,483
<PER-SHARE-NAV-BEGIN> 9.56
<PER-SHARE-NII> .27
<PER-SHARE-GAIN-APPREC> (.18)
<PER-SHARE-DIVIDEND> (.25)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.40
<EXPENSE-RATIO> 1.35<F1>
<FN>
<F1>Without the Manager's voluntary waiver of a portion of certain expenses for
this period, this fund would have had per share net investment income of $.08
and a ratio of expenses to average net assets of 1.96%. The amount waived was
$1,212.
</FN>
</TABLE>
