KAYNE ANDERSON MUTUAL FUNDS
NSAR-A, 1997-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 0001018593
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 KAYNE ANDERSON MUTUAL FUNDS
001 B000000 811-7705
001 C000000 8002220380
002 A000000 1800 AVE. OF THE STARS, 2ND FLOOR
002 B000000 LOS ANGELES
002 C000000 CA
002 D010000 90067
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 RISING DIVIDENDS FUND
007 C030100 N
007 C010200  2
007 C020200 SMALL-MID CAP RISING DIVIDENDS FUND
007 C030200 N
007 C010300  3
007 C020300 INTERNATIONAL RISING DIVIDENDS FUND
007 C030300 N
007 C010400  4
007 C020400 INTERMEDIATE TOTAL RETURN BOND FUND
007 C030400 N
007 C010500  5
007 C020500 INTERMEDIATE TAX-FREE BOND FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 KAYNE ANDERSON INVESTMENT MANAGEMENT
008 B00AA01 A
008 C00AA01 801-24241
008 D01AA01 LOS ANGELES
008 D02AA01 CA
008 D03AA01 90067
010 A00AA01 INVESTMENT COMPANY ADMINISTRATION CORPORATION
010 C01AA01 GLENDORA
010 C02AA01 CA
<PAGE>      PAGE  2
010 C03AA01 91741
011 A00AA01 FIRST FUND DISTRIBUTORS, INC.
011 B00AA01 8-42809
011 C01AA01 PHOENIX
011 C02AA01 AZ
011 C03AA01 85018
012 A00AA01 INVESTORS BANK AND TRUST COMPANY
012 B00AA01 84-0000000
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02111
013 A00AA01 BRIGGS, BUNTING & DOUGHERTY, LLP
013 B01AA01 PENNSYLVANIA
013 B02AA01 PA
013 B03AA01 19103
014 A00AA01 KA ASSOCIATES, INC.
014 B00AA01 8-45640
015 A00AA01 INVESTORS BANK AND TRUST
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02111
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    5
019 C00AA00 KAYNEANDER
020 A000001 KA ASSOCIATES, INC.
020 C000001     14
020 A000002 MERRILL, LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000002 13-5674085
020 C000002      7
020 A000003 BEAR STEARNS
020 B000003 13-3299429
020 C000003      7
020 A000004 SEI FINANCIAL SERVICES COMPANY
020 C000004      6
020 A000005 SMITH BARNEY INC.
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022 A000001 PIPER JAFFRAY, INC.
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022 A000002 MERRILL LYNCH
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<PAGE>      PAGE  3
022 C000002         0
022 D000002       542
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022 C000004      1425
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022 C000005      1056
022 D000005         0
022 A000006 FORD MOTOR CREDIT
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022 D000006         0
022 A000007 G.X. CLARKE & CO.
022 B000007 13-2969143
022 C000007         0
022 D000007       315
022 A000008 STEPHENS INC.
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022 D000008      1027
022 A000009 ALEX BROWN
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022 D000009         0
022 A000010 OPPENHEIMER & CO., INC.
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022 C000010       253
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023 C000000       6220
023 D000000       2763
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<PAGE>      PAGE  4
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054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
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055 A00AA00 N
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057  00AA00 N
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
074 R010400        0
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074 R030400        0
074 R040400       32
074 S000400        0
074 T000400     5373
074 U010400      510
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074 V010400    10.54
074 V020400     0.00
074 W000400   0.0000
074 X000400        5
074 Y000400        0
075 A000400        0
075 B000400     5127
076  000400     0.00
028 A010500         0
028 A020500         4
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028 A040500         6
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028 F040500         0
028 G010500       159
028 G020500        56
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045  000500 Y
046  000500 N
047  000500 Y
048  000500  0.500
048 A010500        0
048 A020500 0.000
<PAGE>      PAGE  20
048 B010500        0
048 B020500 0.000
048 C010500        0
048 C020500 0.000
048 D010500        0
048 D020500 0.000
048 E010500        0
048 E020500 0.000
048 F010500        0
048 F020500 0.000
048 G010500        0
048 G020500 0.000
048 H010500        0
048 H020500 0.000
048 I010500        0
048 I020500 0.000
048 J010500        0
048 J020500 0.000
048 K010500        0
048 K020500 0.000
049  000500 N
050  000500 N
051  000500 N
052  000500 N
053 A000500 Y
053 B000500 Y
062 A000500 Y
062 B000500   0.0
062 C000500   0.0
062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
062 K000500   0.0
062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
062 O000500 100.8
062 P000500   0.0
062 Q000500   0.0
062 R000500  -0.8
063 A000500   0
063 B000500  9.6
064 A000500 Y
064 B000500 N
066 A000500 N
067  000500 N
068 A000500 N
<PAGE>      PAGE  21
068 B000500 N
069  000500 N
071 A000500      3731
071 B000500       800
071 C000500      4374
071 D000500   18
072 A000500  6
072 B000500       94
072 C000500        0
072 D000500        0
072 E000500        0
072 F000500       13
072 G000500        7
072 H000500        0
072 I000500        8
072 J000500        1
072 K000500        0
072 L000500        0
072 M000500        2
072 N000500        8
072 O000500        0
072 P000500        0
072 Q000500       16
072 R000500        2
072 S000500        1
072 T000500        0
072 U000500        2
072 V000500        0
072 W000500        1
072 X000500       61
072 Y000500       37
072 Z000500       70
072AA000500        0
072BB000500        1
072CC010500       12
072CC020500        0
072DD010500       71
072DD020500        0
072EE000500        0
073 A010500   0.1500
073 A020500   0.0000
073 B000500   0.0000
073 C000500   0.0000
074 A000500       16
074 B000500        0
074 C000500        0
074 D000500     5296
074 E000500        0
074 F000500        0
074 G000500        0
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<PAGE>      PAGE  22
074 I000500        0
074 J000500        0
074 K000500        0
074 L000500      108
074 M000500       29
074 N000500     5449
074 O000500      136
074 P000500       44
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500       16
074 S000500        0
074 T000500     5253
074 U010500      493
074 U020500        0
074 V010500    10.66
074 V020500     0.00
074 W000500   0.0000
074 X000500        9
074 Y000500        0
075 A000500        0
075 B000500     5155
076  000500     0.00
028 A010600         0
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028 B030600         0
028 B040600         0
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028 C030600         0
028 C040600         0
028 D010600         0
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028 D030600         0
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028 E030600         0
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028 F040600         0
028 G010600         0
028 G020600         0
<PAGE>      PAGE  23
028 G030600         0
028 G040600         0
028 H000600         0
SIGNATURE   RITA DAM                                     
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001018593
<NAME> KAYNE ANDERSON MUTUAL FUNDS
<SERIES>
   <NUMBER> 1
   <NAME> KAYNE ANDERSON RISING DIVIDENDS FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                         25234039
<INVESTMENTS-AT-VALUE>                        37424730
<RECEIVABLES>                                    51640
<ASSETS-OTHER>                                 1308584
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                38784954
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        55407
<TOTAL-LIABILITIES>                              55407
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      25009312
<SHARES-COMMON-STOCK>                          2267515
<SHARES-COMMON-PRIOR>                          1824175
<ACCUMULATED-NII-CURRENT>                       162154
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        1367390
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      12190691
<NET-ASSETS>                                  38729547
<DIVIDEND-INCOME>                               300910
<INTEREST-INCOME>                                35597
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  191324
<NET-INVESTMENT-INCOME>                         145183
<REALIZED-GAINS-CURRENT>                       1266366
<APPREC-INCREASE-CURRENT>                      4696732
<NET-CHANGE-FROM-OPS>                          6108281
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         575745
<NUMBER-OF-SHARES-REDEEMED>                   (132405)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                        12611970
<ACCUMULATED-NII-PRIOR>                          16971
<ACCUMULATED-GAINS-PRIOR>                       101024
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           124645
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 191324
<AVERAGE-NET-ASSETS>                          33584044
<PER-SHARE-NAV-BEGIN>                            14.32
<PER-SHARE-NII>                                   0.06
<PER-SHARE-GAIN-APPREC>                           2.70
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              17.08
<EXPENSE-RATIO>                                   1.15
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001018593
<NAME> KAYNE ANDERSON MUTUAL FUNDS
<SERIES>
   <NUMBER> 2
   <NAME> KAYNE ANDERSON SMALL-MID CAP RISING DIVIDENDS FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                          2761142
<INVESTMENTS-AT-VALUE>                         3026757
<RECEIVABLES>                                     6173
<ASSETS-OTHER>                                  600701
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 3633631
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        38966
<TOTAL-LIABILITIES>                              38966
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       3324678
<SHARES-COMMON-STOCK>                           296783
<SHARES-COMMON-PRIOR>                            73037
<ACCUMULATED-NII-CURRENT>                         9922
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (5550)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        265615
<NET-ASSETS>                                   3594665
<DIVIDEND-INCOME>                                14937
<INTEREST-INCOME>                                 5715
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   11866
<NET-INVESTMENT-INCOME>                           8786
<REALIZED-GAINS-CURRENT>                        (5550)
<APPREC-INCREASE-CURRENT>                       244124
<NET-CHANGE-FROM-OPS>                           247360
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         244062
<NUMBER-OF-SHARES-REDEEMED>                    (20315)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         2786884
<ACCUMULATED-NII-PRIOR>                           1136
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             7741
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  56409
<AVERAGE-NET-ASSETS>                           1852054
<PER-SHARE-NAV-BEGIN>                            11.06
<PER-SHARE-NII>                                   0.02
<PER-SHARE-GAIN-APPREC>                           1.03
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              12.11
<EXPENSE-RATIO>                                   1.30
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001018593
<NAME> KAYNE ANDERSON MUTUAL FUNDS
<SERIES>
   <NUMBER> 3
   <NAME> KAYNE ANDERSON INTERNATIONAL RISING DIVIDENDS FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                          2998614
<INVESTMENTS-AT-VALUE>                         3435679
<RECEIVABLES>                                    15757
<ASSETS-OTHER>                                  199422
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 3650858
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        40212
<TOTAL-LIABILITIES>                              40212
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       3130110
<SHARES-COMMON-STOCK>                           284038
<SHARES-COMMON-PRIOR>                            96647
<ACCUMULATED-NII-CURRENT>                        22179
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          21292
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        437065
<NET-ASSETS>                                   3610646
<DIVIDEND-INCOME>                                30278
<INTEREST-INCOME>                                 6854
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   15902
<NET-INVESTMENT-INCOME>                          21230
<REALIZED-GAINS-CURRENT>                         21292
<APPREC-INCREASE-CURRENT>                       418456
<NET-CHANGE-FROM-OPS>                           460978
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         206518
<NUMBER-OF-SHARES-REDEEMED>                    (19155)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         2555817
<ACCUMULATED-NII-PRIOR>                            949
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            10769
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  64432
<AVERAGE-NET-ASSETS>                           2300033
<PER-SHARE-NAV-BEGIN>                            10.91
<PER-SHARE-NII>                                   0.07
<PER-SHARE-GAIN-APPREC>                           1.73
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              12.71
<EXPENSE-RATIO>                                   1.40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001018593
<NAME> KAYNE ANDERSON MUTUAL FUNDS
<SERIES>
   <NUMBER> 4
   <NAME> KAYNE ANDERSON INTERMEDIATE TOTAL RETURN BOND FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                          5384335
<INVESTMENTS-AT-VALUE>                         5338124
<RECEIVABLES>                                    70944
<ASSETS-OTHER>                                   33632
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 5442700
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        69961
<TOTAL-LIABILITIES>                              69961
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       5423887
<SHARES-COMMON-STOCK>                           509829
<SHARES-COMMON-PRIOR>                           475467
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           (476)
<ACCUMULATED-NET-GAINS>                         (4461)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (46211)
<NET-ASSETS>                                   5372739
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               160216
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   24070
<NET-INVESTMENT-INCOME>                         136146
<REALIZED-GAINS-CURRENT>                        (4461)
<APPREC-INCREASE-CURRENT>                      (13076)
<NET-CHANGE-FROM-OPS>                           118609
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (140320)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          26887
<NUMBER-OF-SHARES-REDEEMED>                     (3683)
<SHARES-REINVESTED>                              11158
<NET-CHANGE-IN-ASSETS>                          339244
<ACCUMULATED-NII-PRIOR>                           3698
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            12668
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  61256
<AVERAGE-NET-ASSETS>                           5111291
<PER-SHARE-NAV-BEGIN>                            10.59
<PER-SHARE-NII>                                   0.29
<PER-SHARE-GAIN-APPREC>                         (0.05)
<PER-SHARE-DIVIDEND>                            (0.29)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              10.54
<EXPENSE-RATIO>                                   0.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001018593
<NAME> KAYNE ANDERSON MUTUAL FUNDS
<SERIES>
   <NUMBER> 5
   <NAME> KAYNE ANDERSON INTERMEDIATE TAX-FREE BOND FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                          5289541
<INVESTMENTS-AT-VALUE>                         5295656
<RECEIVABLES>                                   107815
<ASSETS-OTHER>                                   46001
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 5449472
<PAYABLE-FOR-SECURITIES>                        136169
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        60074
<TOTAL-LIABILITIES>                             196243
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       5248512
<SHARES-COMMON-STOCK>                           492945
<SHARES-COMMON-PRIOR>                           481757
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           (423)
<ACCUMULATED-NET-GAINS>                          (975)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          6115
<NET-ASSETS>                                   5253229
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                93703
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   23566
<NET-INVESTMENT-INCOME>                          70137
<REALIZED-GAINS-CURRENT>                         (975)
<APPREC-INCREASE-CURRENT>                        11821
<NET-CHANGE-FROM-OPS>                            80983
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (70832)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          14993
<NUMBER-OF-SHARES-REDEEMED>                     (9072)
<SHARES-REINVESTED>                               5267
<NET-CHANGE-IN-ASSETS>                          118638
<ACCUMULATED-NII-PRIOR>                            272
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            12775
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  61437
<AVERAGE-NET-ASSETS>                           5153028
<PER-SHARE-NAV-BEGIN>                            10.64
<PER-SHARE-NII>                                   0.15
<PER-SHARE-GAIN-APPREC>                           0.02
<PER-SHARE-DIVIDEND>                            (0.15)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              10.66
<EXPENSE-RATIO>                                   0.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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