<PAGE> PAGE 1
000 A000000 06/30/98
000 C000000 354472
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 SCUDDER FUNDS TRUST
001 B000000 811-3229
001 C000000 6172952567
002 A000000 TWO INTERNATIONAL PLACE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
002 D020000 4103
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 SCUDDER SHORT TERM BOND FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C020400 SCUDDER ZERO COUPON 2000 FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 SCUDDER KEMPER INVESTMENTS
008 B00AA01 A
008 C00AA01 801-252
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10154
010 A00AA01 SCUDDER FUND ACCOUNTING CORP.
010 B00AA01 None
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02110
010 C04AA01 4103
011 A00AA01 SCUDDER INVESTOR SERVICES, INC.
011 B00AA01 8-298
<PAGE> PAGE 2
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02110
011 C04AA01 4103
012 A00AA01 SCUDDER SERVICE CORPORATION
012 B00AA01 84-1489
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02107
012 C04AA01 2291
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
014 A00AA01 SCUDDER INVESTOR SERVICES, INC.
014 B00AA01 8-298
014 A00AA02 GRUNTAL & CO., INC.
014 B00AA02 8-31022
014 A00AA03 GMS GROUP LLC (A GRUNTAL AFFILIATE)
014 B00AA03 8-23936
014 A00AA04 ZURICH CAPITAL MARKETS
014 B00AA04 8-49827
014 A00AA05 BANK HANDLOWY
014 B00AA05 8-24613
014 A00AA06 KEMPER DISTRIBUTORS, INC.
014 B00AA06 8-47765
015 A00AA01 STATE STREET BANK AND TRUST CO.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02171
015 E01AA01 X
015 A00AA02 DRESDNER BANK A.G.
015 B00AA02 S
015 C01AA02 FRANKFURT
015 D01AA02 GERMANY
015 E04AA02 X
015 A00AA03 CITIBANK, N.A.
015 B00AA03 S
015 C01AA03 BUENOS AIRES
015 D01AA03 ARGENTINA
015 E04AA03 X
015 A00AA04 WESTPAC BANKING CORPORATION
015 B00AA04 S
015 C01AA04 SIDNEY
015 D01AA04 AUSTRALIA
015 E04AA04 X
015 A00AA05 GIROCREDIT BANK AKTIENGESELLSCHAFT DER SPARKA
015 B00AA05 S
015 C01AA05 VIENNA
015 D01AA05 AUSTRIA
<PAGE> PAGE 3
015 E04AA05 X
015 A00AA06 GENERALE BANK
015 B00AA06 S
015 C01AA06 BRUSSELS
015 D01AA06 BELGIUM
015 E04AA06 X
015 A00AA07 BANKBOSTON, N.A.
015 B00AA07 S
015 C01AA07 SAO PAULO
015 D01AA07 BRAZIL
015 E04AA07 X
015 A00AA08 CANADA TRUSTCO MORTGAGE COMPANY
015 B00AA08 S
015 C01AA08 TORONTO
015 D01AA08 CANADA
015 E04AA08 X
015 A00AA09 CITIBANK, N.A.
015 B00AA09 S
015 C01AA09 SANTIAGO
015 D01AA09 CHILE
015 E04AA09 X
015 A00AA10 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B00AA10 S
015 C01AA10 BOGOTA
015 D01AA10 COLOMBIA
015 E04AA10 X
015 A00AA11 DEN DANSKE BANK
015 B00AA11 S
015 C01AA11 COPENHAGEN
015 D01AA11 DENMARK
015 E04AA11 X
015 A00AA12 MERITA BANK LIMITED
015 B00AA12 S
015 C01AA12 HELSINKI
015 D01AA12 FINLAND
015 E04AA12 X
015 A00AA13 BANQUE PARIBAS
015 B00AA13 S
015 C01AA13 PARIS
015 D01AA13 FRANCE
015 E04AA13 X
015 A00AA14 BANQUE PARIBUS
015 B00AA14 S
015 C01AA14 MILAN
015 D01AA14 ITALY
015 E04AA14 X
015 A00AA15 NATIONAL BANK OF GREECE, S.A.
015 B00AA15 S
015 C01AA15 ATHENS
015 D01AA15 GREECE
015 E04AA15 X
<PAGE> PAGE 4
015 A00AA16 STANDARD CHARTERED BANK
015 B00AA16 S
015 C01AA16 XXX
015 D01AA16 HONG KONG
015 E04AA16 X
015 A00AA17 DEUTSCHE BANK
015 B00AA17 S
015 C01AA17 BOMBAY
015 D01AA17 INDIA
015 E04AA17 X
015 A00AA18 STANDARD CHARTERED BANK
015 B00AA18 S
015 C01AA18 JAKARTA
015 D01AA18 INDONESIA
015 E04AA18 X
015 A00AA19 BANK OF IRELAND
015 B00AA19 S
015 C01AA19 DUBLIN
015 D01AA19 IRELAND
015 E04AA19 X
015 A00AA20 BANK HAPOALIM B.M.
015 B00AA20 S
015 C01AA20 TEL AVIV
015 D01AA20 ISRAEL
015 E04AA20 X
015 A00AA21 THE FUJI BANK, LIMITED
015 B00AA21 S
015 C01AA21 TOKYO
015 D01AA21 JAPAN
015 E04AA21 X
015 A00AA22 THE BANK OF BERMUDA LIMITED
015 B00AA22 S
015 C01AA22 XXX
015 D01AA22 BERMUDA
015 E04AA22 X
015 A00AA23 CITIBANK, N.A.
015 B00AA23 S
015 C01AA23 SEOUL
015 D01AA23 KOREA
015 E04AA23 X
015 A00AA24 STANDARD CHARTERED BANK
015 B00AA24 S
015 C01AA24 KUALA LUMPUR
015 D01AA24 MALAYSIA
015 E04AA24 X
015 A00AA25 CITIBANK MEXICO S.A.
015 B00AA25 S
015 C01AA25 MEXICO CITY
015 D01AA25 MEXICO
015 E04AA25 X
015 A00AA26 MEESPIERSON N.V.
<PAGE> PAGE 5
015 B00AA26 S
015 C01AA26 AMSTERDAM
015 D01AA26 NETHERLANDS
015 E04AA26 X
015 A00AA27 ANZ BANKING GROUP LIMITED
015 B00AA27 S
015 C01AA27 WELLINGTON
015 D01AA27 NEW ZEALAND
015 E04AA27 X
015 A00AA28 CHRISTIANIA BANK OG KREDITKASSE
015 B00AA28 S
015 C01AA28 OSLO
015 D01AA28 NORWAY
015 E04AA28 X
015 A00AA29 DEUTSCHE BANK AG
015 B00AA29 S
015 C01AA29 KARACHI
015 D01AA29 PAKISTAN
015 E04AA29 X
015 A00AA30 CITIBANK, N.A.
015 B00AA30 S
015 C01AA30 LIMA
015 D01AA30 PERU
015 E04AA30 X
015 A00AA31 STANDARD CHARTERED BANK
015 B00AA31 S
015 C01AA31 MANILA
015 D01AA31 PHILIPPINES
015 E04AA31 X
015 A00AA32 CITIBANK POLAND, S.A.
015 B00AA32 S
015 C01AA32 WARSAW
015 D01AA32 POLAND
015 E04AA32 X
015 A00AA33 BANCO COMERCIAL PORTUGUES
015 B00AA33 S
015 C01AA33 LISBON
015 D01AA33 PORTUGAL
015 E04AA33 X
015 A00AA34 THE DEVELOPMENT BANK OF SINGAPORE, LTD.
015 B00AA34 S
015 C01AA34 XXX
015 D01AA34 SINGAPORE
015 E04AA34 X
015 A00AA35 BANCO SANTANDER, S.A.
015 B00AA35 S
015 C01AA35 MADRID
015 D01AA35 SPAIN
015 E04AA35 X
015 A00AA36 THE HONG KONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA36 S
<PAGE> PAGE 6
015 C01AA36 COLOMBO
015 D01AA36 SRI LANKA
015 E04AA36 X
015 A00AA37 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA37 S
015 C01AA37 STOCKHOLM
015 D01AA37 SWEDEN
015 E04AA37 X
015 A00AA38 UNION BANK OF SWITZERLAND
015 B00AA38 S
015 C01AA38 ZURICH
015 D01AA38 SWITZERLAND
015 E04AA38 X
015 A00AA39 CENTRAL TRUST OF CHINA
015 B00AA39 S
015 C01AA39 TAIPEI
015 D01AA39 TAIWAN
015 E04AA39 X
015 A00AA40 STANDARD CHARTERED BANK
015 B00AA40 S
015 C01AA40 BANGKOK
015 D01AA40 THAILAND
015 E04AA40 X
015 A00AA41 DELETE
015 A00AA42 CITIBANK, N.A.
015 B00AA42 S
015 C01AA42 ISTANBUL
015 D01AA42 TURKEY
015 E04AA42 X
015 A00AA43 STATE STREET BANK AND TRUST COMPANY
015 B00AA43 S
015 C01AA43 LONDON
015 D01AA43 ENGLAND
015 E04AA43 X
015 A00AA44 CITIBANK, N.A.
015 B00AA44 S
015 C01AA44 MONTEVIDEO
015 D01AA44 URUGUAY
015 E04AA44 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 65
019 C00AA00 SCUDDERKEM
020 A000001 GOLDMAN, SACHS & CO.
020 B000001 13-5108880
020 C000001 485
020 A000002 MERRILL LYNCH
020 B000002 13-5674088
020 C000002 257
020 A000003 J.P. MORGAN SECURITIES
020 B000003 13-3224016
<PAGE> PAGE 7
020 C000003 64
020 A000004 LEHMAN BROTHERS SECURITIES
020 B000004 13-2518466
020 C000004 41
020 A000005 SALOMON BROTHERS
020 B000005 13-3082694
020 C000005 27
020 A000006 DEUTSCHE BANK CAPITAL
020 B000006 13-6124068
020 C000006 19
020 A000007 FIRST CHICAGO CAP MKTS
020 C000007 4
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 897
022 A000001 DONALDSON LUF & JEN FIXED INC.
022 B000001 13-2741729
022 C000001 6478720
022 D000001 0
022 A000002 SALOMON BROTHERS
022 B000002 13-3082694
022 C000002 1318052
022 D000002 329526
022 A000003 STATE STREET BANK
022 B000003 04-1867445
022 C000003 1266552
022 D000003 0
022 A000004 DOLLAR ROLL
022 C000004 219000
022 D000004 5164
022 A000005 MERRILL LYNCH
022 B000005 13-5674085
022 C000005 50655
022 D000005 121566
022 A000006 LEHMAN BROTHERS SECURITIES
022 B000006 13-2518466
022 C000006 81946
022 D000006 37745
022 A000007 SWISS BANK
022 B000007 13-2639550
022 C000007 55476
022 D000007 34576
022 A000008 GREENWICH CAPITAL
022 C000008 0
022 D000008 57712
022 A000009 J.P. MORGAN SECURITIES
022 B000009 13-3224016
022 C000009 20951
022 D000009 33901
022 A000010 BEAR, STEARNS & CO.
<PAGE> PAGE 8
022 B000010 13-3299429
022 C000010 0
022 D000010 54593
023 C000000 9491352
023 D000000 674783
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
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 Y
078 000000 N
028 A010100 63728
028 A020100 4475
<PAGE> PAGE 9
028 A030100 0
028 A040100 75218
028 B010100 22160
028 B020100 3933
028 B030100 0
028 B040100 34116
028 C010100 19069
028 C020100 4383
028 C030100 0
028 C040100 41902
028 D010100 19112
028 D020100 3826
028 D030100 0
028 D040100 52073
028 E010100 16656
028 E020100 3835
028 E030100 0
028 E040100 32890
028 F010100 17762
028 F020100 3606
028 F030100 0
028 F040100 37065
028 G010100 158487
028 G020100 24058
028 G030100 0
028 G040100 273264
028 H000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 2.0
062 D000100 1.0
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062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
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062 J000100 0.0
062 K000100 0.0
062 L000100 2.0
062 M000100 3.0
062 N000100 29.0
062 O000100 0.0
062 P000100 32.0
062 Q000100 31.0
062 R000100 0.0
063 A000100 0
063 B000100 2.6
064 A000100 N
064 B000100 N
070 A010100 Y
070 A020100 Y
<PAGE> PAGE 10
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 Y
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 803113
071 B000100 915652
071 C000100 1055374
071 D000100 76
072 A000100 6
072 B000100 39796
072 C000100 0
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072 F000100 2995
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072 H000100 0
072 I000100 1424
072 J000100 149
072 K000100 0
072 L000100 107
072 M000100 27
<PAGE> PAGE 11
072 N000100 19
072 O000100 0
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072 R000100 32
072 S000100 17
072 T000100 0
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072 W000100 24
072 X000100 4794
072 Y000100 0
072 Z000100 35002
072AA000100 0
072BB000100 7854
072CC010100 0
072CC020100 8303
072DD010100 0
072DD020100 31641
072EE000100 0
073 A010100 0.3100
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 688
074 B000100 7354
074 C000100 39981
074 D000100 1005955
074 E000100 0
074 F000100 0
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074 J000100 3343
074 K000100 0
074 L000100 9587
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074 N000100 1066923
074 O000100 7
074 P000100 460
074 Q000100 0
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074 R030100 0
074 R040100 4442
074 S000100 0
074 T000100 1062014
074 U010100 97292
074 U020100 0
074 V010100 10.92
074 V020100 0.00
<PAGE> PAGE 12
074 W000100 0.0000
074 X000100 0
074 Y000100 0
075 A000100 0
075 B000100 1119832
076 000100 0.00
028 A010400 969
028 A020400 0
028 A030400 0
028 A040400 1472
028 B010400 399
028 B020400 0
028 B030400 0
028 B040400 770
028 C010400 246
028 C020400 731
028 C030400 0
028 C040400 636
028 D010400 111
028 D020400 0
028 D030400 0
028 D040400 793
028 E010400 486
028 E020400 0
028 E030400 0
028 E040400 364
028 F010400 295
028 F020400 0
028 F030400 0
028 F040400 675
028 G010400 2507
028 G020400 731
028 G030400 0
028 G040400 4710
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062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 100.0
062 N000400 0.0
062 O000400 0.0
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<PAGE> PAGE 13
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 2.5
064 A000400 N
064 B000400 N
071 A000400 671
071 B000400 2955
071 C000400 19363
071 D000400 3
072 A000400 12
072 B000400 616
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073 A010400 0.4600
073 A020400 0.0000
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074 A000400 93
074 B000400 0
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074 D000400 18705
<PAGE> PAGE 14
074 E000400 0
074 F000400 0
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074 R030400 0
074 R040400 29
074 S000400 0
074 T000400 18788
074 U010400 1599
074 U020400 0
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SIGNATURE THOMAS F. MCDONOUGH
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Short Term Bond Fund Semiannual Report for the six months ended 6/30/98 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Scudder Short Term Bond Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,049,037,322
<INVESTMENTS-AT-VALUE> 1,053,289,520
<RECEIVABLES> 12,930,321
<ASSETS-OTHER> 702,850
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,066,922,691
<PAYABLE-FOR-SECURITIES> 7,029
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,901,777
<TOTAL-LIABILITIES> 4,908,806
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,200,961,261
<SHARES-COMMON-STOCK> 97,291,906
<SHARES-COMMON-PRIOR> 105,576,081
<ACCUMULATED-NII-CURRENT> 3,739,631
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (146,448,580)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,761,573
<NET-ASSETS> 1,062,013,885
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 39,795,647
<OTHER-INCOME> 0
<EXPENSES-NET> 4,793,821
<NET-INVESTMENT-INCOME> 35,001,826
<REALIZED-GAINS-CURRENT> (7,853,622)
<APPREC-INCREASE-CURRENT> (8,303,421)
<NET-CHANGE-FROM-OPS> 18,844,783
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (31,641,266)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14,397,761
<NUMBER-OF-SHARES-REDEEMED> (24,877,630)
<SHARES-REINVESTED> 2,195,694
<NET-CHANGE-IN-ASSETS> (103,517,277)
<ACCUMULATED-NII-PRIOR> 379,071
<ACCUMULATED-GAINS-PRIOR> (138,594,958)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,994,960
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,793,821
<AVERAGE-NET-ASSETS> 1,119,831,898
<PER-SHARE-NAV-BEGIN> 11.04
<PER-SHARE-NII> 0.34
<PER-SHARE-GAIN-APPREC> (0.15)
<PER-SHARE-DIVIDEND> (0.31)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.92
<EXPENSE-RATIO> 0.86
<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
Scudder Zero Coupon 2000 Fund Seminnual Report for the fiscal year ended
6/30/98 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Scudder Zero Coupon 2000 Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1998
<PERIOD-START> JAN-01-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 18,158,867
<INVESTMENTS-AT-VALUE> 18,705,290
<RECEIVABLES> 17,651
<ASSETS-OTHER> 93,670
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 18,816,611
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 28,528
<TOTAL-LIABILITIES> 28,528
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 18,976,468
<SHARES-COMMON-STOCK> 1,598,631
<SHARES-COMMON-PRIOR> 1,721,605
<ACCUMULATED-NII-CURRENT> 507,526
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,242,334)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 546,423
<NET-ASSETS> 18,788,083
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 615,567
<OTHER-INCOME> 0
<EXPENSES-NET> 96,782
<NET-INVESTMENT-INCOME> 518,785
<REALIZED-GAINS-CURRENT> 88,530
<APPREC-INCREASE-CURRENT> (56,064)
<NET-CHANGE-FROM-OPS> 551,251
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (745,333)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 210,772
<NUMBER-OF-SHARES-REDEEMED> (396,958)
<SHARES-REINVESTED> 63,212
<NET-CHANGE-IN-ASSETS> (1,665,889)
<ACCUMULATED-NII-PRIOR> 734,074
<ACCUMULATED-GAINS-PRIOR> (1,330,864)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 58,057
<INTEREST-EXPENSE> 21
<GROSS-EXPENSE> 185,255
<AVERAGE-NET-ASSETS> 19,511,774
<PER-SHARE-NAV-BEGIN> 11.88
<PER-SHARE-NII> 0.31
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.46)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 11.75
<EXPENSE-RATIO> 0.54
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
