<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information from the Tax-Free
Investments Co. - Series 2 Inst. - September 30, 2000 semi-annual reports.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Tax-Free Investments Co. - Series 2 Institutional
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2001
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 855,972,930
<INVESTMENTS-AT-VALUE> 855,972,930
<RECEIVABLES> 9,967,729
<ASSETS-OTHER> 8,384,333
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 874,324,992
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,325,269
<TOTAL-LIABILITIES> 3,325,269
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 871,077,484
<SHARES-COMMON-STOCK> 870,993,991
<SHARES-COMMON-PRIOR> 1,080,901,711
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (77,761)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 870,999,723
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 21,854,224
<OTHER-INCOME> 0
<EXPENSES-NET> (1,278,741)
<NET-INVESTMENT-INCOME> 20,575,483
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 20,575,483
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20,575,483)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,779,481,590
<NUMBER-OF-SHARES-REDEEMED> (2,993,565,453)
<SHARES-REINVESTED> 4,176,143
<NET-CHANGE-IN-ASSETS> (209,907,720)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (77,761)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,150,816
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,888,784
<AVERAGE-NET-ASSETS> 880,926,697
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.20
</TABLE>
