IAI INVESTMENT FUNDS I INC
NSAR-B, EX-27, 2000-10-30
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK>  0000216725
<NAME> IAI INVESTMENT FUND I, INC.
<SERIES>
   <NUMBER> 1
   <NAME>   IAI Institutional Bond Fund

<S>                             <C>
<PERIOD-TYPE>                  8-MOS
<FISCAL-YEAR-END>                              NOV-30-2000
<PERIOD-START>                                 DEC-01-1999
<PERIOD-END>                                   AUG-31-2000
<INVESTMENTS-AT-COST>                          0
<INVESTMENTS-AT-VALUE>                         0
<RECEIVABLES>                                  577
<ASSETS-OTHER>                                 478
<OTHER-ITEMS-ASSETS>                           0
<TOTAL-ASSETS>                                 1,055
<PAYABLE-FOR-SECURITIES>                       0
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      640
<TOTAL-LIABILITIES>                            640
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       415
<SHARES-COMMON-STOCK>                          0
<SHARES-COMMON-PRIOR>                          2,777,966
<ACCUMULATED-NII-CURRENT>                      0
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        0
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       0
<NET-ASSETS>                                   415
<DIVIDEND-INCOME>                              6,563
<INTEREST-INCOME>                              293,979
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 (21,131)
<NET-INVESTMENT-INCOME>                        279,411
<REALIZED-GAINS-CURRENT>                       (2,138,454)
<APPREC-INCREASE-CURRENT>                      1,812,494
<NET-CHANGE-FROM-OPS>                          (46,549)
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      (337,821)
<DISTRIBUTIONS-OF-GAINS>                       0
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        2,827
<NUMBER-OF-SHARES-REDEEMED>                    (2,821,513)
<SHARES-REINVESTED>                            40,720
<NET-CHANGE-IN-ASSETS>                         (23,189,154)
<ACCUMULATED-NII-PRIOR>                        68,033
<ACCUMULATED-GAINS-PRIOR>                      (2,176,356)
<OVERDISTRIB-NII-PRIOR>                        0
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<GROSS-ADVISORY-FEES>                          (21,039)
<INTEREST-EXPENSE>                             (92)
<GROSS-EXPENSE>                                (23,460)
<AVERAGE-NET-ASSETS>                           5,584,843
<PER-SHARE-NAV-BEGIN>                          0
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<RETURNS-OF-CAPITAL>                           0
<PER-SHARE-NAV-END>                            0
<EXPENSE-RATIO>                                0.5



</TABLE>


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