SCHRODER CAPITAL FUNDS /DELAWARE/
NSAR-A, 1998-01-29
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<PAGE>      PAGE  1
000 A000000 11/30/97
000 C000000 0000019532
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2
000 J000000 A
001 A000000 SCHRODER CAPITAL FUNDS, INC
001 B000000 811-1911
001 C000000 2078798903
002 A000000 2 PORTLAND SQUARE
002 B000000 PORTLAND
002 C000000 ME
002 D010000 04101
003  000000 Y
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  8
007 C010100  1
007 C010200  2
007 C010300  3
007 C020300 SCHRODER U.S. SMALLER COMPANIES FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C020600 SCHRODER MICRO CAP FUND
007 C030600 N
007 C010700  7
007 C010800  8
020 A000001 KING, CL & ASSOCIATES
020 B000001 13-2700327
020 C000001      2
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        3
022 A000001 CHASE SECURITIES, INC.
022 B000001 13-3112953
022 C000001     26088
022 D000001         0
<PAGE>      PAGE  2
022 A000002 MONTGOMERY SECURITIES
022 B000002 94-1701676
022 C000002       322
022 D000002       218
022 A000003 G.X. CLARKE
022 C000003       399
022 D000003         0
022 A000004 TROSTER SINGER
022 C000004       225
022 D000004        59
022 A000005 KING, CL & ASSOCIATES
022 B000005 13-2700327
022 C000005       212
022 D000005         0
022 A000006 WHEAT FIRST SECURITIES
022 B000006 54-0796506
022 C000006       176
022 D000006         0
022 A000007 ALEX BROWN
022 B000007 52-1319768
022 C000007       101
022 D000007        48
022 A000008 EQUITABLE SECURITIES
022 B000008 62-0871146
022 C000008        66
022 D000008        67
022 A000009 DONALDSON LUFKIN & JENRETTE
022 B000009 13-2741729
022 C000009       122
022 D000009         0
022 A000010 RAYMOND JAMES & ASSOCIATES
022 B000010 59-1237041
022 C000010        80
022 D000010        37
023 C000000      28617
023 D000000        536
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
<PAGE>      PAGE  3
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078  000000 N
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086 A020000      0
086 B010000      0
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086 C010000      0
086 C020000      0
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086 E020000      0
086 F010000      0
086 F020000      0
008 A000301 SCHRODER CAPITAL MANAGEMENT INTERNATIONAL INC
008 B000301 A
008 C000301 801-15843
008 D010301 NEW YORK
008 D020301 NY
008 D030301 10019
010 A000301 SCHRODER FUND ADVISORS INC.
010 C010301 NEW YORK
010 C020301 NY
010 C030301 10019
010 A000302 FORUM ADMINISTRATIVE SERVICES INC., LLC
010 C010302 PORTLAND
010 C020302 ME
010 C030302 04101
012 A000301 FORUM FINANCIAL CORP.
012 B000301 84-01612
012 C010301 PORTLAND
012 C020301 ME
012 C030301 04112
013 A000301 COOPERS & LYBRAND LLP
013 B010301 BOSTON
013 B020301 MA
013 B030301 02109
014 A000301 SCHRODER CAPITAL DISTRIBUTORS INC.
014 B000301 8-A-40973
<PAGE>      PAGE  4
014 A000302 WERTHEIM SCHRODER INC.
014 B000302 8-A-99999
015 A000301 CHASE MANHATTAN BANK, N.A.
015 B000301 C
015 C010301 BROOKLYN
015 C020301 NY
015 C030301 11245
015 E010301 X
018  000300 Y
019 A000300 N
019 B000300    0
024  000300 N
025 D000301       0
025 D000302       0
025 D000303       0
025 D000304       0
025 D000305       0
025 D000306       0
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028 F040300       564
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<PAGE>      PAGE  5
030 B000300  0.00
030 C000300  0.00
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031 B000300      0
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035  000300      0
036 B000300      0
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039  000300 Y
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042 B000300   0
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042 D000300   0
042 E000300   0
042 F000300   0
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048 I010300        0
048 I020300 0.000
048 J010300        0
048 J020300 0.000
048 K010300        0
048 K020300 0.000
049  000300 N
<PAGE>      PAGE  6
050  000300 N
051  000300 N
052  000300 N
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053 B000300 Y
054 A000300 Y
054 B000300 Y
054 C000300 Y
054 D000300 N
054 E000300 N
054 F000300 N
054 G000300 N
054 H000300 Y
054 I000300 N
054 J000300 Y
054 K000300 N
054 L000300 Y
054 M000300 Y
054 N000300 N
054 O000300 N
055 A000300 N
055 B000300 N
056  000300 Y
057  000300 N
058 A000300 N
058 B000300 N
058 C000300 N
058 D000300 N
058 E000300 N
059  000300 Y
060 A000300 Y
060 B000300 Y
061  000300    10000
062 A000300 N
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062 C000300   0.0
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062 E000300   0.0
062 F000300   0.0
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062 H000300   0.0
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062 J000300   0.0
062 K000300   0.0
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062 N000300   0.0
062 O000300   0.0
062 P000300   0.0
062 Q000300   0.0
062 R000300   0.0
<PAGE>      PAGE  7
063 A000300   0
063 B000300  0.0
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300    123264
071 B000300     42984
<PAGE>      PAGE  8
071 C000300    149724
071 D000300   29
072 A000300  6
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072 Z000300      -95
072AA000300     1857
072BB000300        0
072CC010300     1871
072CC020300        0
072DD010300        0
072DD020300        0
072EE000300        0
073 A010300   0.0000
073 A020300   0.0000
073 B000300   0.0000
073 C000300   0.0000
074 A000300        0
074 B000300        0
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074 D000300        0
074 E000300        0
074 F000300        0
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074 H000300        0
074 I000300    40419
074 J000300       52
074 K000300        0
074 L000300        0
<PAGE>      PAGE  9
074 M000300        4
074 N000300    40475
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074 R010300        0
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074 R040300       36
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074 U010300     2595
074 U020300       70
074 V010300    15.18
074 V020300    15.14
074 W000300   0.0000
074 X000300      471
074 Y000300        0
075 A000300        0
075 B000300    33758
076  000300     0.00
080 A000300 GULF INSURANCE CO.
080 C000300     1275
081 A000300 N
081 B000300   0
082 A000300 N
082 B000300        0
083 A000300 N
083 B000300        0
084 A000300 N
084 B000300        0
085 A000300 N
085 B000300 N
008 A000601 SCHRODER CAPITAL MANAGEMENT INTERNATIONAL INC
008 B000601 A
008 C000601 801-15843
008 D010601 NEW YORK
008 D020601 NY
008 D030601 10019
010 A000601 SCHRODER FUND ADVISORS INC.
010 C010601 NEW YORK
010 C020601 NY
010 C030601 10019
010 A000602 FORUM ADMINISTRATIVE SERVICES INC., LLC
010 C010602 PORTLAND
010 C020602 ME
010 C030602 04101
012 A000601 FORUM FINANCIAL CORP.
012 B000601 84-01612
012 C010601 PORTLAND
012 C020601 ME
<PAGE>      PAGE  10
012 C030601 04112
013 A000601 COOPERS & LYBRAND LLP
013 B010601 BOSTON
013 B020601 MA
013 B030601 02109
014 A000601 SCHRODER CAPITAL DISTRIBUTORS INC.
014 B000601 8-A-40973
014 A000602 WERTHEIM SCHRODER INC.
014 B000602 8-A-99999
015 A000601 CHASE MANHATTAN BANK, N.A.
015 B000601 C
015 C010601 BROOKLYN
015 C020601 NY
015 C030601 11245
015 E010601 X
018  000600 Y
019 A000600 N
019 B000600    0
024  000600 N
028 A010600         0
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028 A030600         0
028 A040600         0
028 B010600         0
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028 B030600         0
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028 F040600         0
028 G010600      2320
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<PAGE>      PAGE  11
030 C000600  0.00
031 A000600      0
031 B000600      0
032  000600      0
033  000600      0
034  000600 N
035  000600      0
036 B000600      0
037  000600 N
038  000600      0
039  000600 Y
040  000600 N
041  000600 N
042 A000600   0
042 B000600   0
042 C000600   0
042 D000600   0
042 E000600   0
042 F000600   0
042 G000600   0
042 H000600   0
043  000600      0
044  000600      0
045  000600 Y
046  000600 N
047  000600 Y
048  000600  1.250
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048 C010600        0
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048 J020600 0.000
048 K010600        0
048 K020600 0.000
049  000600 N
050  000600 N
<PAGE>      PAGE  12
051  000600 N
052  000600 N
053 A000600 Y
053 B000600 Y
054 A000600 Y
054 B000600 Y
054 C000600 Y
054 D000600 N
054 E000600 N
054 F000600 N
054 G000600 N
054 H000600 Y
054 I000600 N
054 J000600 Y
054 K000600 N
054 L000600 Y
054 M000600 Y
054 N000600 N
054 O000600 N
055 A000600 N
055 B000600 N
056  000600 Y
057  000600 N
058 A000600 N
058 B000600 N
058 C000600 N
058 D000600 N
058 E000600 N
059  000600 Y
060 A000600 Y
060 B000600 Y
061  000600    10000
062 A000600 N
062 B000600   0.0
062 C000600   0.0
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062 E000600   0.0
062 F000600   0.0
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062 P000600   0.0
062 Q000600   0.0
062 R000600   0.0
063 A000600   0
<PAGE>      PAGE  13
063 B000600  0.0
066 A000600 Y
066 B000600 N
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067  000600 N
068 A000600 N
068 B000600 N
069  000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 Y
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
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071 B000600       536
071 C000600      1643
<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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SIGNATURE   TOM SHEEHAN                                  
TITLE       ASST. SECRETARY     
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM SCHRODER MICRO CAP FUND DATED 11/30/97 AND IS QUALIFIED IN
ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<SERIES>
   <NUMBER> 060
   <NAME> SCHRODER MICRO CAP FUND
       
<S>                             <C>
<PERIOD-TYPE>                   2-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                        2,398,383
<INVESTMENTS-AT-VALUE>                       2,432,333
<RECEIVABLES>                                   41,235
<ASSETS-OTHER>                                   6,557
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               2,480,125
<PAYABLE-FOR-SECURITIES>                        63,333
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       13,007
<TOTAL-LIABILITIES>                             76,340
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     2,320,020
<SHARES-COMMON-STOCK>                          231,702
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        1,819
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         47,996
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        33,950
<NET-ASSETS>                                 2,403,785
<DIVIDEND-INCOME>                                  911
<INTEREST-INCOME>                                6,873
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   5,965
<NET-INVESTMENT-INCOME>                          1,819
<REALIZED-GAINS-CURRENT>                        47,996
<APPREC-INCREASE-CURRENT>                       33,950
<NET-CHANGE-FROM-OPS>                           83,765
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        2,320,020
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       2,403,785
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            3,733
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 34,114
<AVERAGE-NET-ASSETS>                         2,319,319
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                            .36
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.37
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM
SCHRODER U.S. SMALLER COMPANIES FUND DATED 11/30/97 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<SERIES>
   <NUMBER> 030
   <NAME> U.S. SMALLER COMPANIES
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                       40,419,336
<INVESTMENTS-AT-VALUE>                      40,419,336
<RECEIVABLES>                                   51,875
<ASSETS-OTHER>                                   3,725
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              40,474,936
<PAYABLE-FOR-SECURITIES>                        12,493
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       31,161
<TOTAL-LIABILITIES>                             43,654
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    31,438,019
<SHARES-COMMON-STOCK>                        2,594,747
<SHARES-COMMON-PRIOR>                        1,969,016
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                        (93,719)
<ACCUMULATED-NET-GAINS>                      3,365,100
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     5,721,882
<NET-ASSETS>                                40,431,282
<DIVIDEND-INCOME>                               92,474
<INTEREST-INCOME>                               60,276
<OTHER-INCOME>                               (136,318)
<EXPENSES-NET>                                 111,038
<NET-INVESTMENT-INCOME>                       (94,606)
<REALIZED-GAINS-CURRENT>                     1,856,877
<APPREC-INCREASE-CURRENT>                    1,871,374
<NET-CHANGE-FROM-OPS>                        3,633,645
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        13,188,432
<NUMBER-OF-SHARES-REDEEMED>                    3,561,554
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      14,246,205
<ACCUMULATED-NII-PRIOR>                            887
<ACCUMULATED-GAINS-PRIOR>                    1,508,223
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                122,783
<AVERAGE-NET-ASSETS>                        33,757,797
<PER-SHARE-NAV-BEGIN>                            13.26
<PER-SHARE-NII>                                  (.04)
<PER-SHARE-GAIN-APPREC>                           1.96
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.18
<EXPENSE-RATIO>                                   1.43
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED
FROM SCHRODER U.S. SMALLER COMPANIES FUND DATED 11/30/97 AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<SERIES>
   <NUMBER> 031
   <NAME> U.S. SMALLER COMPANIES
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          MAY-31-1997
<PERIOD-END>                               NOV-30-1997
<INVESTMENTS-AT-COST>                       40,419,336
<INVESTMENTS-AT-VALUE>                      40,419,336
<RECEIVABLES>                                   51,875
<ASSETS-OTHER>                                   3,725
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              40,474,936
<PAYABLE-FOR-SECURITIES>                        12,493
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       31,161
<TOTAL-LIABILITIES>                             43,654
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    31,438,019
<SHARES-COMMON-STOCK>                           69,544
<SHARES-COMMON-PRIOR>                            6,098
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                        (93,719)
<ACCUMULATED-NET-GAINS>                      3,365,100
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     5,721,882
<NET-ASSETS>                                40,431,282
<DIVIDEND-INCOME>                               92,474
<INTEREST-INCOME>                               60,276
<OTHER-INCOME>                               (136,318)
<EXPENSES-NET>                                 111,038
<NET-INVESTMENT-INCOME>                       (94,606)
<REALIZED-GAINS-CURRENT>                     1,856,877
<APPREC-INCREASE-CURRENT>                    1,871,374
<NET-CHANGE-FROM-OPS>                        3,633,645
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         1,466,962
<NUMBER-OF-SHARES-REDEEMED>                      461,280
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      14,246,205
<ACCUMULATED-NII-PRIOR>                            887
<ACCUMULATED-GAINS-PRIOR>                    1,508,223
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                122,783
<AVERAGE-NET-ASSETS>                           623,591
<PER-SHARE-NAV-BEGIN>                            13.24
<PER-SHARE-NII>                                  (.04)
<PER-SHARE-GAIN-APPREC>                           1.94
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.14
<EXPENSE-RATIO>                                   1.65
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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