<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000353312
<NAME> IAA
<SERIES>
<NUMBER> 2
<NAME> IAA TAXABLE FIXED INCOME SERIES FUND - SHORT-TERM GOVT BOND
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 26,913,077
<INVESTMENTS-AT-VALUE> 26,651,585
<RECEIVABLES> 360,110
<ASSETS-OTHER> 564
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,012,259
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,776
<TOTAL-LIABILITIES> 23,776
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 27,293,303
<SHARES-COMMON-STOCK> 2,722,968
<SHARES-COMMON-PRIOR> 2,976,713
<ACCUMULATED-NII-CURRENT> 18,291
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (61,619)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (261,492)
<NET-ASSETS> 26,988,483
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,735,150
<OTHER-INCOME> 0
<EXPENSES-NET> 243,488
<NET-INVESTMENT-INCOME> 1,491,662
<REALIZED-GAINS-CURRENT> (48,342)
<APPREC-INCREASE-CURRENT> (195,180)
<NET-CHANGE-FROM-OPS> 1,248,140
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,487,039)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 401,246
<NUMBER-OF-SHARES-REDEEMED> (786,750)
<SHARES-REINVESTED> 131,760
<NET-CHANGE-IN-ASSETS> (2,749,135)
<ACCUMULATED-NII-PRIOR> (1,608)
<ACCUMULATED-GAINS-PRIOR> 1,999
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 146,094
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 261,954
<AVERAGE-NET-ASSETS> 29,095,599
<PER-SHARE-NAV-BEGIN> 9.99
<PER-SHARE-NII> 0.51
<PER-SHARE-GAIN-APPREC> (0.08)
<PER-SHARE-DIVIDEND> (0.51)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.91
<EXPENSE-RATIO> 0.84
</TABLE>
