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> 5,783,817
<INVESTMENTS-AT-VALUE> 5,582,311
<RECEIVABLES> 336,030
<ASSETS-OTHER> 885
<OTHER-ITEMS-ASSETS> 298,292
<TOTAL-ASSETS> 6,217,518
<PAYABLE-FOR-SECURITIES> 202,697
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21,356
<TOTAL-LIABILITIES> 224,053
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,608,116
<SHARES-COMMON-STOCK> 160,424
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (413,145)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (201,506)
<NET-ASSETS> 5,993,465
<DIVIDEND-INCOME> 471
<INTEREST-INCOME> 2,144
<OTHER-INCOME> 0
<EXPENSES-NET> (17,159)
<NET-INVESTMENT-INCOME> (14,544)
<REALIZED-GAINS-CURRENT> (413,145)
<APPREC-INCREASE-CURRENT> (201,506)
<NET-CHANGE-FROM-OPS> (629,195)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 160,424
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,993,465
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,823
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 38,402
<AVERAGE-NET-ASSETS> 4,360,772
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> (1.78)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.19
<EXPENSE-RATIO> 2.54<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 $(.05)
and a ratio of expenses to average net assets of 5.07%. The amount waived was
4,255.
</FN>
</TABLE>
