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> 5,474,994
<INVESTMENTS-AT-VALUE> 5,348,422
<RECEIVABLES> 23,651
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 388,647
<TOTAL-ASSETS> 5,760,720
<PAYABLE-FOR-SECURITIES> 45,950
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20,460
<TOTAL-LIABILITIES> 66,410
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,362,677
<SHARES-COMMON-STOCK> 106,181
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (541,795)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (126,572)
<NET-ASSETS> 5,694,310
<DIVIDEND-INCOME> 914
<INTEREST-INCOME> 2,240
<OTHER-INCOME> 0
<EXPENSES-NET> (16,559)
<NET-INVESTMENT-INCOME> (13,405)
<REALIZED-GAINS-CURRENT> (541,795)
<APPREC-INCREASE-CURRENT> (126,572)
<NET-CHANGE-FROM-OPS> (681,772)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 106,181
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,694,310
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,654
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 38,101
<AVERAGE-NET-ASSETS> 4,250,567
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> (1.76)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.21
<EXPENSE-RATIO> 2.51<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 $(.07) and a ratio of expenses to average net assets of 4.96%.
The amount waived was $3,726.
</FN>
</TABLE>
