SCHRODER CAPITAL FUNDS /DELAWARE/
NSAR-B, 1998-07-30
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<PAGE>      PAGE  1
000 B000000 05/31/98
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  3
007 C010100  1
007 C010200  2
007 C010300  3
007 C020300 SCHRODER U.S. SMALLER COMPANIES FUND
007 C030300 N
020 A000001 KING, CL & ASSOCIATES
020 B000001 13-2700327
020 C000001      2
020 A000002 WHEAT FIRST SECURITIES
020 C000002      1
020 A000003 MCDONALD & CO.
020 C000003      1
020 A000004 GERARD & KLAUER
020 C000004      1
020 A000005 INSTINET
020 C000005      1
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     84835
022 D000001         0
022 A000002 MONTGOMERY SECURITIES
022 B000002 94-1701676
022 C000002      1062
<PAGE>      PAGE  2
022 D000002       737
022 A000003 ALEX BROWN
022 B000003 52-1319768
022 C000003       737
022 D000003       493
022 A000004 BRADFORD J.C.
022 C000004       637
022 D000004       108
022 A000005 ROBINSON HUMPHREY
022 C000005       497
022 D000005       230
022 A000006 TROSTER SINGER
022 C000006       502
022 D000006        92
022 A000007 DONALDSON LUFKIN & JENRETTE
022 B000007 13-2741729
022 C000007       281
022 D000007       247
022 A000008 SALOMON SMITH BARNEY
022 C000008       142
022 D000008       351
022 A000009 WILLIAM BLAIR & CO.
022 C000009       225
022 D000009       264
022 A000010 HERZOG, HEINE & GOULD
022 C000010       313
022 D000010       170
023 C000000      93379
023 D000000       4353
026 A000000 N
026 B000000 Y
026 C000000 Y
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
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
<PAGE>      PAGE  3
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078  000000 N
080 A00AA00 GULF INSURANCE CO.
080 C00AA00     1550
081 A00AA00 Y
081 B00AA00   3
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
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086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
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 SHAREHOLDER SERVICES, LLC
012 B000301 84-01612
012 C010301 PORTLAND
012 C020301 ME
012 C030301 04112
013 A000301 COOPERS & LYBRAND LLP
<PAGE>      PAGE  4
013 B010301 BOSTON
013 B020301 MA
013 B030301 02109
014 A000301 SCHRODER CAPITAL DISTRIBUTORS INC.
014 B000301 8-A-40973
014 A000302 WERTHEIM SCHRODER INC.
014 B000302 8-A-99999
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
025 D000307       0
025 D000308       0
028 A010300      3835
028 A020300      2842
028 A030300         0
028 A040300       785
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028 B030300         0
028 B040300      1074
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028 C020300         0
028 C030300         0
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028 D030300         0
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028 F040300      1196
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029  000300 N
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<PAGE>      PAGE  5
030 C000300  0.00
031 A000300      0
031 B000300      0
032  000300      0
033  000300      0
034  000300 N
035  000300      0
036 B000300      0
037  000300 N
038  000300      0
039  000300 N
040  000300 N
041  000300 N
042 A000300   0
042 B000300   0
042 C000300   0
042 D000300   0
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300   0
043  000300      0
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045  000300 Y
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047  000300 N
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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
050  000300 N
<PAGE>      PAGE  6
051  000300 N
052  000300 Y
053 A000300 Y
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 N
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
062 B000300   0.0
062 C000300   0.0
062 D000300   0.0
062 E000300   0.0
062 F000300   0.0
062 G000300   0.0
062 H000300   0.0
062 I000300   0.0
062 J000300   0.0
062 K000300   0.0
062 L000300   0.0
062 M000300   0.0
062 N000300   0.0
062 O000300   0.0
062 P000300   0.0
062 Q000300   0.0
062 R000300   0.0
063 A000300   0
<PAGE>      PAGE  7
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    321269
071 B000300    118491
071 C000300    215532
<PAGE>      PAGE  8
071 D000300   55
072 A000300 12
072 B000300      235
072 C000300      129
072 D000300        0
072 E000300     -320
072 F000300        0
072 G000300      138
072 H000300        0
072 I000300       50
072 J000300        0
072 K000300        0
072 L000300       36
072 M000300        1
072 N000300       39
072 O000300        0
072 P000300        0
072 Q000300       12
072 R000300       13
072 S000300       11
072 T000300        0
072 U000300        6
072 V000300        0
072 W000300        4
072 X000300      309
072 Y000300       45
072 Z000300     -220
072AA000300     2231
072BB000300        0
072CC010300     4722
072CC020300        0
072DD010300        0
072DD020300        0
072EE000300     3390
073 A010300   0.0000
073 A020300   0.0000
073 B000300   1.2600
073 C000300   0.0000
074 A000300        0
074 B000300        0
074 C000300        0
074 D000300        0
074 E000300        0
074 F000300        0
074 G000300        0
074 H000300        0
074 I000300    56225
074 J000300        0
074 K000300       23
074 L000300      181
074 M000300        1
<PAGE>      PAGE  9
074 N000300    56430
074 O000300        0
074 P000300       20
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300      186
074 S000300        0
074 T000300    56224
074 U010300     3501
074 U020300      309
074 V010300    14.76
074 V020300    14.72
074 W000300   0.0000
074 X000300      608
074 Y000300        0
075 A000300        0
075 B000300    42430
076  000300     0.00
SIGNATURE   TOM SHEEHAN                                  
TITLE       TREASURER           
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE NORWEST
ADVANTAGE ANNUAL REPORT DATED MAY 31, 1998 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS (DELAWARE)
<SERIES>03
   <NUMBER>031
   <NAME>U.S. SMALLER COMPANIES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                             JUN-01-1997
<PERIOD-END>                               MAY-31-1998
<INVESTMENTS-AT-COST>                       56,224,866
<INVESTMENTS-AT-VALUE>                      56,224,866
<RECEIVABLES>                                  203,989  
<ASSETS-OTHER>                                     816  
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              56,429,671
<PAYABLE-FOR-SECURITIES>                             0      
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      206,137
<TOTAL-LIABILITIES>                            206,137
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    47,523,710
<SHARES-COMMON-STOCK>                        3,501,037 
<SHARES-COMMON-PRIOR>                        1,969,016
<ACCUMULATED-NII-CURRENT>                            0 
<OVERDISTRIBUTION-NII>                               0 
<ACCUMULATED-NET-GAINS>                        127,185 
<OVERDISTRIBUTION-GAINS>                             0 
<ACCUM-APPREC-OR-DEPREC>                     8,572,639 
<NET-ASSETS>                                56,223,534                               
<DIVIDEND-INCOME>                              235,045
<INTEREST-INCOME>                              128,809
<OTHER-INCOME>                                (320,187) 
<EXPENSES-NET>                                 264,142
<NET-INVESTMENT-INCOME>                       (220,475)
<REALIZED-GAINS-CURRENT>                     2,230,689 
<APPREC-INCREASE-CURRENT>                    4,722,131 
<NET-CHANGE-FROM-OPS>                        6,732,345
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                     3,389,867
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     30,815,123
<NUMBER-OF-SHARES-REDEEMED>                 11,273,810
<SHARES-REINVESTED>                          2,814,366 
<NET-CHANGE-IN-ASSETS>                      30,038,457
<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>                                309,061
<AVERAGE-NET-ASSETS>                        40,481,651 
<PER-SHARE-NAV-BEGIN>                            13.24
<PER-SHARE-NII>                                   (.05)
<PER-SHARE-GAIN-APPREC>                           2.79
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         1.26
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.76
<EXPENSE-RATIO>                                    .61
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE NORWEST
ADVANTAGE ANNUAL REPORT DATED MAY 31, 1998 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS (DELAWARE)
<SERIES>03
   <NUMBER>032
   <NAME>U.S. SMALLER COMPANIES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                             JUN-01-1997
<PERIOD-END>                               MAY-31-1998
<INVESTMENTS-AT-COST>                       56,224,866
<INVESTMENTS-AT-VALUE>                      56,224,866
<RECEIVABLES>                                  203,989  
<ASSETS-OTHER>                                     816  
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              56,429,671
<PAYABLE-FOR-SECURITIES>                             0      
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      206,137
<TOTAL-LIABILITIES>                            206,137
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    47,523,710
<SHARES-COMMON-STOCK>                          308,725 
<SHARES-COMMON-PRIOR>                            6,098
<ACCUMULATED-NII-CURRENT>                            0 
<OVERDISTRIBUTION-NII>                               0 
<ACCUMULATED-NET-GAINS>                        127,185 
<OVERDISTRIBUTION-GAINS>                             0 
<ACCUM-APPREC-OR-DEPREC>                     8,572,639 
<NET-ASSETS>                                56,223,534                               
<DIVIDEND-INCOME>                              235,045
<INTEREST-INCOME>                              128,809
<OTHER-INCOME>                                (320,187) 
<EXPENSES-NET>                                 264,142
<NET-INVESTMENT-INCOME>                       (220,475)
<REALIZED-GAINS-CURRENT>                     2,230,689 
<APPREC-INCREASE-CURRENT>                    4,722,131 
<NET-CHANGE-FROM-OPS>                        6,732,345
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                     3,389,867
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      5,400,648
<NUMBER-OF-SHARES-REDEEMED>                  1,088,176
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<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>                                309,061
<AVERAGE-NET-ASSETS>                        40,481,651 
<PER-SHARE-NAV-BEGIN>                            13.26
<PER-SHARE-NII>                                   (.06)
<PER-SHARE-GAIN-APPREC>                           2.82
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         1.26
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.72
<EXPENSE-RATIO>                                    .84
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE NORWEST
ADVANTAGE ANNUAL REPORT DATED MAY 31, 1998 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS (DELAWARE)
<SERIES>
   <NUMBER>08
   <NAME>EMERGING MARKETS FUND
       
<S>                             <C>
<PERIOD-TYPE>                   7-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                             OCT-31-1997
<PERIOD-END>                               MAY-31-1998
<INVESTMENTS-AT-COST>                           17,832
<INVESTMENTS-AT-VALUE>                          17,832
<RECEIVABLES>                                   17,876  
<ASSETS-OTHER>                                       0  
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  35,708
<PAYABLE-FOR-SECURITIES>                             0      
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            5
<TOTAL-LIABILITIES>                                  5
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        20,895 
<SHARES-COMMON-STOCK>                            1,971
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                           39 
<OVERDISTRIBUTION-NII>                               0 
<ACCUMULATED-NET-GAINS>                           (917) 
<OVERDISTRIBUTION-GAINS>                             0 
<ACCUM-APPREC-OR-DEPREC>                        (2,190) 
<NET-ASSETS>                                    17,827                                        
<DIVIDEND-INCOME>                                   63
<INTEREST-INCOME>                                   10
<OTHER-INCOME>                                     (31) 
<EXPENSES-NET>                                       5
<NET-INVESTMENT-INCOME>                             37
<REALIZED-GAINS-CURRENT>                          (915)
<APPREC-INCREASE-CURRENT>                       (2,190)
<NET-CHANGE-FROM-OPS>                           (3,068)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         20,895
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
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<ACCUMULATED-NII-PRIOR>                              0 
<ACCUMULATED-GAINS-PRIOR>                            0 
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 42,551
<AVERAGE-NET-ASSETS>                             3,691  
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                           (.98)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.04
<EXPENSE-RATIO>                                    .85
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE NORWEST
ADVANTAGE ANNUAL REPORT DATED MAY 31, 1998 AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000019532
<NAME> SCHRODER CAPITAL FUNDS (DELAWARE)
<SERIES>
   <NUMBER>06
   <NAME>MICRO CAP FUND
       
<S>                             <C>
<PERIOD-TYPE>                   7-MOS
<FISCAL-YEAR-END>                          MAY-31-1998
<PERIOD-START>                             OCT-15-1997
<PERIOD-END>                               MAY-31-1998
<INVESTMENTS-AT-COST>                        5,891,543
<INVESTMENTS-AT-VALUE>                       6,482,616
<RECEIVABLES>                                   26,517  
<ASSETS-OTHER>                                     830  
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               6,509,963
<PAYABLE-FOR-SECURITIES>                       139,085      
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       31,279
<TOTAL-LIABILITIES>                            170,364
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     5,158,961 
<SHARES-COMMON-STOCK>                          444,612
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0 
<OVERDISTRIBUTION-NII>                               0 
<ACCUMULATED-NET-GAINS>                        589,565 
<OVERDISTRIBUTION-GAINS>                             0 
<ACCUM-APPREC-OR-DEPREC>                       591,073 
<NET-ASSETS>                                 6,333,599                                        
<DIVIDEND-INCOME>                                6,833
<INTEREST-INCOME>                               19,542
<OTHER-INCOME>                                       0 
<EXPENSES-NET>                                  42,924
<NET-INVESTMENT-INCOME>                        (16,549)
<REALIZED-GAINS-CURRENT>                       651,514
<APPREC-INCREASE-CURRENT>                      591,073
<NET-CHANGE-FROM-OPS>                        1,226,038
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                        45,400
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      6,068,331
<NUMBER-OF-SHARES-REDEEMED>                    954,770
<SHARES-REINVESTED>                             45,400
<NET-CHANGE-IN-ASSETS>                       6,339,599
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<ACCUMULATED-GAINS-PRIOR>                            0 
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