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<PAGE> PAGE 12
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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028 A010500 1346
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<PAGE> PAGE 22
028 G030500 0
028 G040500 14266
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045 000500 Y
046 000500 N
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048 J010500 0
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048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
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062 C000500 0.0
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062 G000500 0.0
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<PAGE> PAGE 23
062 N000500 3.4
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 1.9
063 A000500 0
063 B000500 1.9
064 A000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
071 A000500 17705
071 B000500 11945
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<PAGE> PAGE 24
072 A000500 6
072 B000500 3265
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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050 000600 N
051 000600 N
052 000600 N
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<PAGE> PAGE 27
063 B000600 5.5
064 A000600 N
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067 000600 N
068 A000600 N
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069 000600 N
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070 E020600 N
070 F010600 N
070 F020600 N
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070 I020600 N
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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SIGNATURE WILLIAM J. AUSTIN, JR.
TITLE ASST. TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> SELECTED BLUE CHIP EQUITIES PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 213,102,481
<INVESTMENTS-AT-VALUE> 277,450,355
<RECEIVABLES> 239,678
<ASSETS-OTHER> 23,719
<OTHER-ITEMS-ASSETS> 4,455
<TOTAL-ASSETS> 277,718,207
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,013
<TOTAL-LIABILITIES> 6,013
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 208,938,713
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 64,347,874
<NET-ASSETS> 273,286,587
<DIVIDEND-INCOME> 1,887,029
<INTEREST-INCOME> 121,121
<OTHER-INCOME> 0
<EXPENSES-NET> 1,047,937
<NET-INVESTMENT-INCOME> 960,213
<REALIZED-GAINS-CURRENT> 22,714,500
<APPREC-INCREASE-CURRENT> (11,602,231)
<NET-CHANGE-FROM-OPS> 12,072,482
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 13,794,456
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 870,261
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,047,937
<AVERAGE-NET-ASSETS> 275,495,201
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
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<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.77
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> JUNIOR BLUE CHIP EQUITIES PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 33,781,384
<INVESTMENTS-AT-VALUE> 36,035,533
<RECEIVABLES> 39,775
<ASSETS-OTHER> 23,719
<OTHER-ITEMS-ASSETS> 205,668
<TOTAL-ASSETS> 36,304,695
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,221
<TOTAL-LIABILITIES> 23,221
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 34,027,325
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,254,149
<NET-ASSETS> 36,281,474
<DIVIDEND-INCOME> 188,404
<INTEREST-INCOME> 20,909
<OTHER-INCOME> 0
<EXPENSES-NET> 154,995
<NET-INVESTMENT-INCOME> 54,318
<REALIZED-GAINS-CURRENT> 1,393,587
<APPREC-INCREASE-CURRENT> (1,233,170)
<NET-CHANGE-FROM-OPS> 214,735
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2,792,123
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 100,549
<INTEREST-EXPENSE> 117
<GROSS-EXPENSE> 177,777
<AVERAGE-NET-ASSETS> 36,881,687
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> INTERNATIONAL BLUE CHIP EQUITIES PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 213,067,085
<INVESTMENTS-AT-VALUE> 283,028,027
<RECEIVABLES> 2,645,136
<ASSETS-OTHER> 23,719
<OTHER-ITEMS-ASSETS> 7,775,825
<TOTAL-ASSETS> 293,472,707
<PAYABLE-FOR-SECURITIES> 7,718,294
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 85,604
<TOTAL-LIABILITIES> 7,803,898
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 215,764,038
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 69,904,771
<NET-ASSETS> 285,668,809
<DIVIDEND-INCOME> 3,403,229
<INTEREST-INCOME> 216,546
<OTHER-INCOME> (377,160)
<EXPENSES-NET> 1,405,991
<NET-INVESTMENT-INCOME> 1,836,624
<REALIZED-GAINS-CURRENT> 5,866,057
<APPREC-INCREASE-CURRENT> 16,876,579
<NET-CHANGE-FROM-OPS> 24,579,260
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 28,622,189
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,075,570
<INTEREST-EXPENSE> 17
<GROSS-EXPENSE> 1,405,991
<AVERAGE-NET-ASSETS> 280,572,374
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.01
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> U.S. TREASURY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 67,237,079
<INVESTMENTS-AT-VALUE> 70,560,466
<RECEIVABLES> 1,021,536
<ASSETS-OTHER> 22,794
<OTHER-ITEMS-ASSETS> 469,908
<TOTAL-ASSETS> 72,074,704
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,202
<TOTAL-LIABILITIES> 1,202
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 68,750,115
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,323,387
<NET-ASSETS> 72,073,502
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,208,796
<OTHER-INCOME> 0
<EXPENSES-NET> 180,315
<NET-INVESTMENT-INCOME> 2,028,481
<REALIZED-GAINS-CURRENT> 263,278
<APPREC-INCREASE-CURRENT> 638,869
<NET-CHANGE-FROM-OPS> 2,930,628
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (2,464,997)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 144,582
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 189,633
<AVERAGE-NET-ASSETS> 72,807,108
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> U.S. TREASURY NEAR TERM PORTOFLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 98,220,577
<INVESTMENTS-AT-VALUE> 98,388,178
<RECEIVABLES> 1,673,531
<ASSETS-OTHER> 22,805
<OTHER-ITEMS-ASSETS> 237,191
<TOTAL-ASSETS> 101,321,705
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,305
<TOTAL-LIABILITIES> 7,305
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100,146,799
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,167,601
<NET-ASSETS> 101,344,400
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,264,710
<OTHER-INCOME> 0
<EXPENSES-NET> 271,672
<NET-INVESTMENT-INCOME> 2,993,038
<REALIZED-GAINS-CURRENT> (351,200)
<APPREC-INCREASE-CURRENT> 188,705
<NET-CHANGE-FROM-OPS> 2,830,543
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (1,547,039)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 205,384
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 274,922
<AVERAGE-NET-ASSETS> 102,830,020
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> CURRENT INCOME PORTFOIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 105,048,071
<INVESTMENTS-AT-VALUE> 106,887,880
<RECEIVABLES> 609,289
<ASSETS-OTHER> 26,989
<OTHER-ITEMS-ASSETS> 2,265
<TOTAL-ASSETS> 107,526,343
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,299
<TOTAL-LIABILITIES> 10,299
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 105,676,315
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,839,729
<NET-ASSETS> 107,516,044
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,572,341
<OTHER-INCOME> 0
<EXPENSES-NET> 276,372
<NET-INVESTMENT-INCOME> 3,295,969
<REALIZED-GAINS-CURRENT> (68,152)
<APPREC-INCREASE-CURRENT> 103,908
<NET-CHANGE-FROM-OPS> 3,331,725
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 9,750,658
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 202,983
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 276,372
<AVERAGE-NET-ASSETS> 102,041,513
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
