<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 17,630,470
<INVESTMENTS-AT-VALUE> 18,960,877
<RECEIVABLES> 388,119
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 930,204
<TOTAL-ASSETS> 20,279,200
<PAYABLE-FOR-SECURITIES> 62,157
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 16,114
<TOTAL-LIABILITIES> 641,271
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,685,575
<SHARES-COMMON-STOCK> 262,792
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,378,053)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,330,407
<NET-ASSETS> 19,637,929
<DIVIDEND-INCOME> 5,439
<INTEREST-INCOME> 24,793
<OTHER-INCOME> 0
<EXPENSES-NET> (153,950)
<NET-INVESTMENT-INCOME> (123,718)
<REALIZED-GAINS-CURRENT> (1,378,053)
<APPREC-INCREASE-CURRENT> 1,330,407
<NET-CHANGE-FROM-OPS> (171,364)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 270,678
<NUMBER-OF-SHARES-REDEEMED> (7,886)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 19,637,929
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 65,684
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 208,121
<AVERAGE-NET-ASSETS> 10,720,483
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.07)
<PER-SHARE-GAIN-APPREC> (.87)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.06
<EXPENSE-RATIO> 2.29<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
$(.10) and a ratio of expenses to average net assets of 2.94%. The amount
waived was $6,375.
</FN>
</TABLE>
