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> 32,205,837
<INVESTMENTS-AT-VALUE> 34,968,934
<RECEIVABLES> 102,514
<ASSETS-OTHER> 2,091
<OTHER-ITEMS-ASSETS> 280,835
<TOTAL-ASSETS> 35,354,374
<PAYABLE-FOR-SECURITIES> 131,080
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70,836
<TOTAL-LIABILITIES> 201,916
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,273,278
<SHARES-COMMON-STOCK> 2,018,971
<SHARES-COMMON-PRIOR> 1,564,964
<ACCUMULATED-NII-CURRENT> (32,925)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,146,682
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,765,423
<NET-ASSETS> 35,152,458
<DIVIDEND-INCOME> 204,231
<INTEREST-INCOME> 30,000
<OTHER-INCOME> 0
<EXPENSES-NET> (388,400)
<NET-INVESTMENT-INCOME> (154,169)
<REALIZED-GAINS-CURRENT> 4,023,270
<APPREC-INCREASE-CURRENT> 1,674,351
<NET-CHANGE-FROM-OPS> 5,543,452
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (25,056)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 671,696
<NUMBER-OF-SHARES-REDEEMED> (219,971)
<SHARES-REINVESTED> 2,282
<NET-CHANGE-IN-ASSETS> 12,985,984
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1,903,294)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 200,100
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 389,382
<AVERAGE-NET-ASSETS> 32,597,529
<PER-SHARE-NAV-BEGIN> 8.56
<PER-SHARE-NII> (.04)
<PER-SHARE-GAIN-APPREC> 2.34
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.84
<EXPENSE-RATIO> 2.27<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 $(.04) and a ratio of expenses to average net assets of 2.27%.
The amount waived was $14.
</FN>
</TABLE>