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<PAGE> PAGE 21
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<PAGE> PAGE 27
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 37
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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SIGNATURE TERESA G. WALTERS
TITLE CHIEF ACCTNG OFFICER
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This financial data schedule contains summary financial information extracted
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<DISTRIBUTIONS-OF-GAINS> 238
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1291
<NUMBER-OF-SHARES-REDEEMED> 1541
<SHARES-REINVESTED> 41
<NET-CHANGE-IN-ASSETS> 3082
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (225)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 219
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 565
<AVERAGE-NET-ASSETS> 21899
<PER-SHARE-NAV-BEGIN> 5.76
<PER-SHARE-NII> (.01)
<PER-SHARE-GAIN-APPREC> 1.31
<PER-SHARE-DIVIDEND> (.01)
<PER-SHARE-DISTRIBUTIONS> (.07)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.98
<EXPENSE-RATIO> 2.57
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This financial data schedule contains summary financial information extracted
from the annual report filed on Form N-SAR and is qualified in its entirety
by reference to such annual report on Form N-SAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 5
<NAME> U.S. TREASURY SECURITIES CASH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 182257
<INVESTMENTS-AT-VALUE> 182257
<RECEIVABLES> 8386
<ASSETS-OTHER> 113
<OTHER-ITEMS-ASSETS> 13
<TOTAL-ASSETS> 190769
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1925
<TOTAL-LIABILITIES> 1925
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 188792
<SHARES-COMMON-STOCK> 188844
<SHARES-COMMON-PRIOR> 190376
<ACCUMULATED-NII-CURRENT> 52
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 188844
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9113
<OTHER-INCOME> 0
<EXPENSES-NET> 1725
<NET-INVESTMENT-INCOME> 7388
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 7388
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7388
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4914471
<NUMBER-OF-SHARES-REDEEMED> 4923359
<SHARES-REINVESTED> 7356
<NET-CHANGE-IN-ASSETS> (1529)
<ACCUMULATED-NII-PRIOR> 52
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 835
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1725
<AVERAGE-NET-ASSETS> 167166
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.03
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This financial data schedule contains summary financial information extracted
from the annual report filed on Form N-SAR and is qualified in it entirety
by reference to such annual report on Form N-SAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 6
<NAME> U.S. INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 7983
<INVESTMENTS-AT-VALUE> 9680
<RECEIVABLES> 40
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 4
<TOTAL-ASSETS> 9726
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 28
<TOTAL-LIABILITIES> 28
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7023
<SHARES-COMMON-STOCK> 649
<SHARES-COMMON-PRIOR> 766
<ACCUMULATED-NII-CURRENT> (4)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 982
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1697
<NET-ASSETS> 9698
<DIVIDEND-INCOME> 397
<INTEREST-INCOME> 47
<OTHER-INCOME> 0
<EXPENSES-NET> 204
<NET-INVESTMENT-INCOME> 240
<REALIZED-GAINS-CURRENT> 1011
<APPREC-INCREASE-CURRENT> 237
<NET-CHANGE-FROM-OPS> 1488
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 238
<DISTRIBUTIONS-OF-GAINS> 164
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 356
<NUMBER-OF-SHARES-REDEEMED> 499
<SHARES-REINVESTED> 26
<NET-CHANGE-IN-ASSETS> (532)
<ACCUMULATED-NII-PRIOR> (4)
<ACCUMULATED-GAINS-PRIOR> 135
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 74
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 206
<AVERAGE-NET-ASSETS> 9804
<PER-SHARE-NAV-BEGIN> 13.35
<PER-SHARE-NII> .35
<PER-SHARE-GAIN-APPREC> 1.84
<PER-SHARE-DIVIDEND> (.35)
<PER-SHARE-DISTRIBUTIONS> (.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.94
<EXPENSE-RATIO> 2.08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the annual
report filed on Form N-SAR and is qualified in its entirety by reference to such
annual report on Form N-SAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 7
<NAME> U.S. TAX FREE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 21056
<INVESTMENTS-AT-VALUE> 20868
<RECEIVABLES> 466
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 21337
<PAYABLE-FOR-SECURITIES> 1353
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 35
<TOTAL-LIABILITIES> 1388
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20248
<SHARES-COMMON-STOCK> 1723
<SHARES-COMMON-PRIOR> 1612
<ACCUMULATED-NII-CURRENT> 34
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (146)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (187)
<NET-ASSETS> 19949
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1050
<OTHER-INCOME> 0
<EXPENSES-NET> 70
<NET-INVESTMENT-INCOME> 980
<REALIZED-GAINS-CURRENT> 47
<APPREC-INCREASE-CURRENT> (16)
<NET-CHANGE-FROM-OPS> 1011
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 943
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1121
<NUMBER-OF-SHARES-REDEEMED> 1074
<SHARES-REINVESTED> 65
<NET-CHANGE-IN-ASSETS> 1336
<ACCUMULATED-NII-PRIOR> (13)
<ACCUMULATED-GAINS-PRIOR> (193)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 145
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 279
<AVERAGE-NET-ASSETS> 19378
<PER-SHARE-NAV-BEGIN> 11.55
<PER-SHARE-NII> .59
<PER-SHARE-GAIN-APPREC> .01
<PER-SHARE-DIVIDEND> (.57)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.58
<EXPENSE-RATIO> .36
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the annual
report filed on Form N-SAR and is qualified in its entirety by reference to such
annual report filed on Form N-SAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 9
<NAME> U.S. WORLD GOLD FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 169486
<INVESTMENTS-AT-VALUE> 265170
<RECEIVABLES> 1918
<ASSETS-OTHER> 23
<OTHER-ITEMS-ASSETS> 112
<TOTAL-ASSETS> 267223
<PAYABLE-FOR-SECURITIES> 1930
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 16512
<TOTAL-LIABILITIES> 18442
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 192784
<SHARES-COMMON-STOCK> 11778
<SHARES-COMMON-PRIOR> 11479
<ACCUMULATED-NII-CURRENT> 13475
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (53162)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 95684
<NET-ASSETS> 248781
<DIVIDEND-INCOME> 1380
<INTEREST-INCOME> 1143
<OTHER-INCOME> 0
<EXPENSES-NET> 3437
<NET-INVESTMENT-INCOME> (914)
<REALIZED-GAINS-CURRENT> 12866
<APPREC-INCREASE-CURRENT> 52719
<NET-CHANGE-FROM-OPS> 64672
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 33666
<NUMBER-OF-SHARES-REDEEMED> 33367
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 67309
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (51639)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3492
<AVERAGE-NET-ASSETS> 228177
<PER-SHARE-NAV-BEGIN> 15.81
<PER-SHARE-NII> (.08)
<PER-SHARE-GAIN-APPREC> 5.39
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 21.12
<EXPENSE-RATIO> 1.51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This financial data schedule contains summary financial information extracted
from the annual report filed on Form N-SAR and is qualified in its entirety by
reference to such annual report on Form N-SAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 10
<NAME> U.S. GOVERNMENT SECURITIES SAVINGS FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 611782
<INVESTMENTS-AT-VALUE> 611782
<RECEIVABLES> 7389
<ASSETS-OTHER> 49
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 619220
<PAYABLE-FOR-SECURITIES> 30230
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 581
<TOTAL-LIABILITIES> 30811
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 588929
<SHARES-COMMON-STOCK> 588461
<SHARES-COMMON-PRIOR> 529424
<ACCUMULATED-NII-CURRENT> 1640
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2160)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 588409
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 31380
<OTHER-INCOME> 0
<EXPENSES-NET> 1461
<NET-INVESTMENT-INCOME> 29919
<REALIZED-GAINS-CURRENT> (613)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 29306
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29306
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 583226
<NUMBER-OF-SHARES-REDEEMED> 553477
<SHARES-REINVESTED> 29288
<NET-CHANGE-IN-ASSETS> 59036
<ACCUMULATED-NII-PRIOR> 5710
<ACCUMULATED-GAINS-PRIOR> (6394)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2440
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3998
<AVERAGE-NET-ASSETS> 567029
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .26
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This financial data schedule contains summary financial information extracted
from the annual report filed on Form N-SAR and is qualified in its entirety by
reference to such annual report on Form N-SAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 11
<NAME> U.S. REAL ESTATE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 7686
<INVESTMENTS-AT-VALUE> 8186
<RECEIVABLES> 93
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 2
<TOTAL-ASSETS> 8283
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 63
<TOTAL-LIABILITIES> 63
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8917
<SHARES-COMMON-STOCK> 749
<SHARES-COMMON-PRIOR> 936
<ACCUMULATED-NII-CURRENT> (29)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1167)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 499
<NET-ASSETS> 8220
<DIVIDEND-INCOME> 387
<INTEREST-INCOME> 119
<OTHER-INCOME> 0
<EXPENSES-NET> 194
<NET-INVESTMENT-INCOME> 312
<REALIZED-GAINS-CURRENT> 417
<APPREC-INCREASE-CURRENT> 601
<NET-CHANGE-FROM-OPS> 1330
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 298
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 97
<NUMBER-OF-SHARES-SOLD> 564
<NUMBER-OF-SHARES-REDEEMED> 782
<SHARES-REINVESTED> 32
<NET-CHANGE-IN-ASSETS> (949)
<ACCUMULATED-NII-PRIOR> 48
<ACCUMULATED-GAINS-PRIOR> (1677)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 64
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195
<AVERAGE-NET-ASSETS> 8585
<PER-SHARE-NAV-BEGIN> 9.80
<PER-SHARE-NII> .42
<PER-SHARE-GAIN-APPREC> 1.27
<PER-SHARE-DIVIDEND> (.39)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (.13)
<PER-SHARE-NAV-END> 10.97
<EXPENSE-RATIO> 2.26
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This financial data schedule contains summary financial information extracted
from the annual report filed on Form N-SAR and is qualified in its entirety by
reference to such annual report on Form N-SAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 12
<NAME> UNITED SERVICES NEAR-TERM TAX FREE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 6647
<INVESTMENTS-AT-VALUE> 6613
<RECEIVABLES> 282
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6897
<PAYABLE-FOR-SECURITIES> 340
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12
<TOTAL-LIABILITIES> 352
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6785
<SHARES-COMMON-STOCK> 630
<SHARES-COMMON-PRIOR> 681
<ACCUMULATED-NII-CURRENT> 33
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (240)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (33)
<NET-ASSETS> 6545
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 343
<OTHER-INCOME> 0
<EXPENSES-NET> 36
<NET-INVESTMENT-INCOME> 307
<REALIZED-GAINS-CURRENT> 24
<APPREC-INCREASE-CURRENT> (72)
<NET-CHANGE-FROM-OPS> 259
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 312
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 264
<NUMBER-OF-SHARES-REDEEMED> 338
<SHARES-REINVESTED> 24
<NET-CHANGE-IN-ASSETS> (583)
<ACCUMULATED-NII-PRIOR> 34
<ACCUMULATED-GAINS-PRIOR> (264)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 35
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 121
<AVERAGE-NET-ASSETS> 6955
<PER-SHARE-NAV-BEGIN> 10.47
<PER-SHARE-NII> .47
<PER-SHARE-GAIN-APPREC> (.09)
<PER-SHARE-DIVIDEND> (.47)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.38
<EXPENSE-RATIO> .52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This financial data schedule contains summary financial information extracted
from the annual report filed on Form N-SAR and is qualified in its entirety by
reference to such annual report on Form N-SAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 14
<NAME> UNITED SERVICES INTERMEDIATE TREASURY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 3565
<INVESTMENTS-AT-VALUE> 3552
<RECEIVABLES> 111
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 37
<TOTAL-ASSETS> 3701
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 56
<TOTAL-LIABILITIES> 56
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3975
<SHARES-COMMON-STOCK> 362
<SHARES-COMMON-PRIOR> 437
<ACCUMULATED-NII-CURRENT> 8
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (325)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (13)
<NET-ASSETS> 3645
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 302
<OTHER-INCOME> 0
<EXPENSES-NET> 15
<NET-INVESTMENT-INCOME> 287
<REALIZED-GAINS-CURRENT> (41)
<APPREC-INCREASE-CURRENT> (139)
<NET-CHANGE-FROM-OPS> 107
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 291
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 341
<NUMBER-OF-SHARES-REDEEMED> 440
<SHARES-REINVESTED> 23
<NET-CHANGE-IN-ASSETS> (935)
<ACCUMULATED-NII-PRIOR> 12
<ACCUMULATED-GAINS-PRIOR> (283)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 23
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 105
<AVERAGE-NET-ASSETS> 4668
<PER-SHARE-NAV-BEGIN> 10.47
<PER-SHARE-NII> .67
<PER-SHARE-GAIN-APPREC> (.39)
<PER-SHARE-DIVIDEND> (.67)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.08
<EXPENSE-RATIO> .43
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This financial data schedule contains summary financial information extracted
from the annual report filed on Form N-SAR and is qualified in its entirety by
reference to such annual report on Form NSAR.
</LEGEND>
<RESTATED>
<SERIES>
<NUMBER> 16
<NAME> CHINA REGION OPPORTUNITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 22468
<INVESTMENTS-AT-VALUE> 21175
<RECEIVABLES> 215
<ASSETS-OTHER> 4
<OTHER-ITEMS-ASSETS> 20
<TOTAL-ASSETS> 21414
<PAYABLE-FOR-SECURITIES> 397
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 50
<TOTAL-LIABILITIES> 447
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 27540
<SHARES-COMMON-STOCK> 3259
<SHARES-COMMON-PRIOR> 2851
<ACCUMULATED-NII-CURRENT> 78
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1293)
<NET-ASSETS> 20967
<DIVIDEND-INCOME> 518
<INTEREST-INCOME> 123
<OTHER-INCOME> 0
<EXPENSES-NET> 406
<NET-INVESTMENT-INCOME> 235
<REALIZED-GAINS-CURRENT> (1474)
<APPREC-INCREASE-CURRENT> 852
<NET-CHANGE-FROM-OPS> (387)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 303
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2218
<NUMBER-OF-SHARES-REDEEMED> 1856
<SHARES-REINVESTED> 46
<NET-CHANGE-IN-ASSETS> 1945
<ACCUMULATED-NII-PRIOR> 28
<ACCUMULATED-GAINS-PRIOR> (3765)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 236
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 595
<AVERAGE-NET-ASSETS> 18897
<PER-SHARE-NAV-BEGIN> 6.67
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> (.21)
<PER-SHARE-DIVIDEND> (.10)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.44
<EXPENSE-RATIO> 2.15
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</TABLE>
700 N. St. Mary's, Suite 900 Telephone 210 226 7700
San Antonio, TX 78205 Facsimile 210 226 7412
[PRICE WATERHOUSE LOGO]
PRICE WATERHOUSE LLP
August 19, 1996
To the Trustees of United
Services Funds
In planning and performing our audit of the financial statements of the U.S.
Gold Shares, U.S. Global Resources, U.S. World Gold, U.S. Treasury Securities
Cash, U.S. All American Equity, U.S. Income, U.S. Tax Free, U.S. Government
Securities Savings, U.S. Real Estate, United Services Near-Term Tax Free, United
Services Intermediate Treasury, and China Region Opportunity Funds, separate
funds of United Services Funds (the Trust), for the year ended June 30, 1996, we
considered its internal control structure, including procedures for safeguarding
securities, in order to determine our auditing procedures for the purposes of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, and not to provide assurance on the internal control
structure.
The management of the Trust is responsible for establishing and maintaining an
internal accounting structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of internal control structure policies and procedures. Two of the
objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are appropriately
safeguarded against loss from unauthorized use or disposition and that
transactions are executed in accordance with management's authorization and
recorded properly to permit preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any evaluation
of the structure to future periods is subject to the risk that it may become
inadequate because of changes in conditions or that the effectiveness of the
design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce to
a relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited may
occur and not be detected within a timely period by employees in the normal
course of performing their assigned functions. However, we noted no matters
involving the internal control structure, including procedures for safeguarding
securities, that we consider to be material weaknesses as defined above as of
June 30, 1996.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
/S/ Price Waterhouse LLP
PRICE WATERHOUSE LLP
