<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000353312
<NAME> IAA
<SERIES>
<NUMBER> 3
<NAME> IAA TAXABLE FIXED INCOME SERIES FUND - LONG-TERM BOND SERIES
<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> 40,619,093
<INVESTMENTS-AT-VALUE> 39,524,267
<RECEIVABLES> 511,781
<ASSETS-OTHER> 609
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 40,036,657
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36,391
<TOTAL-LIABILITIES> 36,391
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 41,236,438
<SHARES-COMMON-STOCK> 4,104,318
<SHARES-COMMON-PRIOR> 4,068,188
<ACCUMULATED-NII-CURRENT> 7,750
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (149,096)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,094,826)
<NET-ASSETS> 40,000,266
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,643,094
<OTHER-INCOME> 0
<EXPENSES-NET> 343,475
<NET-INVESTMENT-INCOME> 2,299,619
<REALIZED-GAINS-CURRENT> (138,481)
<APPREC-INCREASE-CURRENT> (562,476)
<NET-CHANGE-FROM-OPS> 1,598,662
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,291,508)
<DISTRIBUTIONS-OF-GAINS> (422,149)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 619,412
<NUMBER-OF-SHARES-REDEEMED> (827,812)
<SHARES-REINVESTED> 244,530
<NET-CHANGE-IN-ASSETS> (733,947)
<ACCUMULATED-NII-PRIOR> (3,741)
<ACCUMULATED-GAINS-PRIOR> 414,914
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 302,858
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 443,888
<AVERAGE-NET-ASSETS> 40,266,752
<PER-SHARE-NAV-BEGIN> 10.01
<PER-SHARE-NII> 0.56
<PER-SHARE-GAIN-APPREC> (0.16)
<PER-SHARE-DIVIDEND> (0.56)
<PER-SHARE-DISTRIBUTIONS> (0.10)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.75
<EXPENSE-RATIO> .85
</TABLE>
