WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 30,226,784
<INVESTMENTS-AT-VALUE> 28,146,817
<RECEIVABLES> 255,338
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 839,194
<TOTAL-ASSETS> 29,241,349
<PAYABLE-FOR-SECURITIES> 196,244
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 80,399
<TOTAL-LIABILITIES> 276,643
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,874,493
<SHARES-COMMON-STOCK> 2,044,974
<SHARES-COMMON-PRIOR> 1,564,964
<ACCUMULATED-NII-CURRENT> (22,000)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 194,492
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,082,279)
<NET-ASSETS> 28,964,706
<DIVIDEND-INCOME> 394,498
<INTEREST-INCOME> 85,552
<OTHER-INCOME> 0
<EXPENSES-NET> (899,002)
<NET-INVESTMENT-INCOME> (418,952)
<REALIZED-GAINS-CURRENT> 2,187,246
<APPREC-INCREASE-CURRENT> (3,175,663)
<NET-CHANGE-FROM-OPS> (1,405,057)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (25,056)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,141,632
<NUMBER-OF-SHARES-REDEEMED> (663,904)
<SHARES-REINVESTED> 2,282
<NET-CHANGE-IN-ASSETS> 6,798,232
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1,903,294)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 415,666
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 931,054
<AVERAGE-NET-ASSETS> 33,260,595
<PER-SHARE-NAV-BEGIN> 8.56
<PER-SHARE-NII> (0.10)
<PER-SHARE-GAIN-APPREC> 0.31
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.75
<EXPENSE-RATIO> 2.49<F1>
<FN>
<F1>
Without the Manager's voluntary waiver of a protion of certain expenses for
this period, this fund would have had per share net investment income of
$(0.11) and a ratio of expenses to average net assets of 2.59%. The amount
waived was $20,727.
</FN>
</TABLE>
