<PAGE> PAGE 1
000 A000000 02/28/98
000 C000000 0000355716
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FORTIS FIDUCIARY FUND, INC.
001 B000000 811-3269
001 C000000 6127384000
002 A000000 500 BIELENBERG DRIVE
002 B000000 WOODBURY
002 C000000 MN
002 D010000 55125
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 FORTIS ADVISERS, INC.
008 B000001 A
008 C000001 801-07877
008 D010001 WOODBURY
008 D020001 MN
008 D030001 55125
011 A000001 FORTIS INVESTORS, INC.
011 B000001 8-13846
011 C010001 WOODBURY
011 C020001 MN
011 C030001 55125
012 A000001 FORTIS ADVISERS, INC.
012 B000001 85-07877
012 C010001 WOODBURY
012 C020001 MN
012 C030001 55125
013 A000001 KPMG PEAT MARWICK
013 B010001 MINNEAPOLIS
013 B020001 MN
<PAGE> PAGE 2
013 B030001 55402
015 A000001 NORWEST BANK MINNESOTA N.A.
015 B000001 C
015 C010001 MINNEAPOLIS
015 C020001 MN
015 C030001 55479
015 E010001 X
015 A000002 U.S.BANK CO., INC.
015 B000002 S
015 C010002 ST. PAUL
015 C020002 MN
015 C030002 55164
015 C040002 0190
015 E010002 X
018 000000 Y
019 A000000 Y
019 B000000 31
019 C000000 FORTISFUND
020 A000001 BRIDGE TRADING COMPANY
020 B000001 43-1034850
020 C000001 12
020 A000002 PAINE WEBBER, INC.
020 B000002 13-2638166
020 C000002 4
020 A000003 BEAR, STEARNS & CO.
020 B000003 13-3299429
020 C000003 3
020 A000004 COWEN & CO.
020 B000004 13-5616116
020 C000004 3
020 A000005 LAZARD FRERES & CO.
020 B000005 13-5545100
020 C000005 2
020 A000006 SOUNDVIEW FINANCIAL GROUP, INC.
020 B000006 13-2976216
020 C000006 2
020 A000007 SMITH BARNEY
020 B000007 13-1912900
020 C000007 2
020 A000008 J. P. MORGAN & CO., INC.
020 B000008 13-2625764
020 C000008 2
020 A000009 KING (M. RAMSEY) SECURITIES, INC.
020 B000009 36-3797725
020 C000009 1
020 A000010 MONTGOMERY SECURITIES
020 B000010 94-1701676
020 C000010 1
021 000000 43
022 A000001 NORWEST INVESTMENT SERVICES
022 B000001 41-1508325
<PAGE> PAGE 3
022 C000001 18452
022 D000001 12821
022 A000002 FIRST BANK (N.A.)
022 B000002 41-0256395
022 C000002 5715
022 D000002 8505
022 A000003 FIRST CHICAGO CAPITAL MARKETS, INC.
022 B000003 36-3595942
022 C000003 6561
022 D000003 0
022 A000004 MORGAN STANLEY & CO., INC.
022 B000004 13-2655998
022 C000004 618
022 D000004 3988
022 A000005 PAINE WEBBER, INC.
022 B000005 13-2638166
022 C000005 1298
022 D000005 2192
022 A000006 LEHMAN BROTHERS, INC.,
022 B000006 13-2518466
022 C000006 2192
022 D000006 145
022 A000007 LAZARD FRERES & CO.
022 B000007 13-5545100
022 C000007 1295
022 D000007 11
022 A000008 GOLDMAN, SACHS & CO.
022 B000008 13-5108880
022 C000008 131
022 D000008 982
022 A000009 SMITH BARNEY & CO.
022 B000009 13-1912900
022 C000009 766
022 D000009 0
022 A000010 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000010 13-5674085
022 C000010 352
022 D000010 370
023 C000000 39427
023 D000000 29590
024 000000 Y
025 A000001 NORWEST INVESTMENT SERVICES
025 B000001 41-1508325
025 C000001 E
025 D000001 491
025 A000002 FIRST BANK (N.A.)
025 B000002 41-0256395
025 C000002 D
025 D000002 4
025 A000003 NORWEST INVESTMENT SERVICES
025 B000003 41-1508325
<PAGE> PAGE 4
025 C000003 D
025 D000003 5751
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 1059
028 A020000 0
028 A030000 0
028 A040000 926
028 B010000 1508
028 B020000 0
028 B030000 0
028 B040000 2437
028 C010000 1957
028 C020000 0
028 C030000 0
028 C040000 1757
028 D010000 4687
028 D020000 11886
028 D030000 0
028 D040000 5881
028 E010000 2061
028 E020000 0
028 E030000 0
028 E040000 5968
028 F010000 2034
028 F020000 0
028 F030000 0
028 F040000 1760
028 G010000 13306
028 G020000 11886
028 G030000 0
028 G040000 18729
028 H000000 2247
029 000000 Y
030 A000000 109
030 B000000 4.75
030 C000000 0.00
031 A000000 23
<PAGE> PAGE 5
031 B000000 0
032 000000 21
033 000000 65
034 000000 Y
035 000000 14
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 N
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 0
044 000000 211
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 100000
048 A020000 1.000
048 B010000 150000
048 B020000 0.800
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 250000
048 K020000 0.700
049 000000 N
050 000000 N
051 000000 N
<PAGE> PAGE 6
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 25
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
<PAGE> PAGE 7
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 N
070 M020000 N
070 N010000 Y
070 N020000 Y
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 15241
071 B000000 21310
071 C000000 89653
071 D000000 17
072 A000000 6
072 B000000 184
072 C000000 193
072 D000000 0
072 E000000 19
<PAGE> PAGE 8
072 F000000 471
072 G000000 0
072 H000000 0
072 I000000 0
072 J000000 11
072 K000000 3
072 L000000 5
072 M000000 8
072 N000000 22
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 14
072 S000000 2
072 T000000 160
072 U000000 0
072 V000000 0
072 W000000 4
072 X000000 700
072 Y000000 0
072 Z000000 -304
072AA000000 11867
072BB000000 774
072CC010000 0
072CC020000 2106
072DD010000 0
072DD020000 0
072EE000000 12209
073 A010000 0.0000
073 A020000 0.0000
073 B000000 5.9400
073 C000000 0.0000
074 A000000 0
074 B000000 0
074 C000000 5755
074 D000000 0
074 E000000 0
074 F000000 90980
074 G000000 0
074 H000000 0
074 I000000 23866
074 J000000 442
074 K000000 0
074 L000000 190
074 M000000 40
074 N000000 121273
074 O000000 499
074 P000000 74
074 Q000000 0
074 R010000 0
074 R020000 0
<PAGE> PAGE 9
074 R030000 0
074 R040000 23917
074 S000000 0
074 T000000 96783
074 U010000 1894
074 U020000 310
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 10379
074 Y000000 0
075 A000000 0
075 B000000 94616
076 000000 0.00
077 A000000 N
078 000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 8000
081 A000000 Y
081 B000000 29
082 A000000 Y
082 B000000 50
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE TAMARA L. FAGELY
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 32 THROUGH 52 OF THE FORTIS STOCK FUNDS
SEMI-ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000355716
<NAME> FORTIS FIDUCIARY FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> FORTIS FIDUCIARY FUND, INC. (CLASS A)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-START> SEP-01-1997
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 60,238,188
<INVESTMENTS-AT-VALUE> 96,734,551
<RECEIVABLES> 631,577
<ASSETS-OTHER> 23,866,251<F1>
<OTHER-ITEMS-ASSETS> 40,219
<TOTAL-ASSETS> 121,272,598
<PAYABLE-FOR-SECURITIES> 498,648
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,990,858<F1>
<TOTAL-LIABILITIES> 24,489,506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50,752,885
<SHARES-COMMON-STOCK> 1,893,644
<SHARES-COMMON-PRIOR> 1,816,855
<ACCUMULATED-NII-CURRENT> (303,963)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,837,807
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,496,363
<NET-ASSETS> 96,783,092
<DIVIDEND-INCOME> 193,356
<INTEREST-INCOME> 183,972
<OTHER-INCOME> 18,921<F2>
<EXPENSES-NET> (700,212)
<NET-INVESTMENT-INCOME> (303,963)
<REALIZED-GAINS-CURRENT> 11,092,452
<APPREC-INCREASE-CURRENT> (2,106,367)
<NET-CHANGE-FROM-OPS> 8,682,122
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (10,713,649)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 228,199
<NUMBER-OF-SHARES-REDEEMED> (413,140)
<SHARES-REINVESTED> 261,730
<NET-CHANGE-IN-ASSETS> 2,936,547
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10,954,230
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 471,238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 700,212
<AVERAGE-NET-ASSETS> 94,616,000
<PER-SHARE-NAV-BEGIN> 46.15
<PER-SHARE-NII> (0.12)
<PER-SHARE-GAIN-APPREC> 4.02
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (5.94)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 44.11
<EXPENSE-RATIO> 1.40<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $23,184,237 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $23,866,251 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH FEBRUARY 28, 1998.
<F3>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 32 THROUGH 52 OF THE FORTIS STOCK FUNDS
SEMI-ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000355716
<NAME> FORTIS FIDUCIARY FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> FORTIS FIDUCIARY FUND, INC. (CLASS B)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-START> SEP-01-1997
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 60,238,188
<INVESTMENTS-AT-VALUE> 96,734,551
<RECEIVABLES> 631,577
<ASSETS-OTHER> 23,866,251<F1>
<OTHER-ITEMS-ASSETS> 40,219
<TOTAL-ASSETS> 121,272,598
<PAYABLE-FOR-SECURITIES> 498,648
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,990,858<F1>
<TOTAL-LIABILITIES> 24,489,506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50,752,885
<SHARES-COMMON-STOCK> 92,333
<SHARES-COMMON-PRIOR> 58,988
<ACCUMULATED-NII-CURRENT> (303,963)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,837,807
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,496,363
<NET-ASSETS> 96,783,092
<DIVIDEND-INCOME> 193,356
<INTEREST-INCOME> 183,972
<OTHER-INCOME> 18,921<F2>
<EXPENSES-NET> (700,212)
<NET-INVESTMENT-INCOME> (303,963)
<REALIZED-GAINS-CURRENT> 11,092,452
<APPREC-INCREASE-CURRENT> (2,106,367)
<NET-CHANGE-FROM-OPS> 8,682,122
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (422,294)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25,858
<NUMBER-OF-SHARES-REDEEMED> (3,338)
<SHARES-REINVESTED> 10,825
<NET-CHANGE-IN-ASSETS> 2,936,547
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10,954,230
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 471,238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 700,212
<AVERAGE-NET-ASSETS> 94,616,000
<PER-SHARE-NAV-BEGIN> 45.15
<PER-SHARE-NII> (0.40)
<PER-SHARE-GAIN-APPREC> 4.02
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (5.94)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 42.83
<EXPENSE-RATIO> 2.15<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $23,184,237 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $23,866,251 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH FEBRUARY 28, 1998.
<F3>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 32 THROUGH 52 OF THE FORTIS STOCK FUNDS
SEMI-ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000355716
<NAME> FORTIS FIDUCIARY FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> FORTIS FIDUCIARY FUND, INC. (CLASS C)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-START> SEP-01-1997
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 60,238,188
<INVESTMENTS-AT-VALUE> 96,734,551
<RECEIVABLES> 631,577
<ASSETS-OTHER> 23,866,251<F1>
<OTHER-ITEMS-ASSETS> 40,219
<TOTAL-ASSETS> 121,272,598
<PAYABLE-FOR-SECURITIES> 498,648
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,990,858<F1>
<TOTAL-LIABILITIES> 24,489,506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50,752,885
<SHARES-COMMON-STOCK> 25,485
<SHARES-COMMON-PRIOR> 18,321
<ACCUMULATED-NII-CURRENT> (303,963)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,837,807
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,496,363
<NET-ASSETS> 96,783,092
<DIVIDEND-INCOME> 193,356
<INTEREST-INCOME> 183,972
<OTHER-INCOME> 18,921<F2>
<EXPENSES-NET> (700,212)
<NET-INVESTMENT-INCOME> (303,963)
<REALIZED-GAINS-CURRENT> 11,092,452
<APPREC-INCREASE-CURRENT> (2,106,367)
<NET-CHANGE-FROM-OPS> 8,682,122
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (118,873)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,247
<NUMBER-OF-SHARES-REDEEMED> (4,156)
<SHARES-REINVESTED> 3,073
<NET-CHANGE-IN-ASSETS> 2,936,547
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10,954,230
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 471,238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 700,212
<AVERAGE-NET-ASSETS> 94,616,000
<PER-SHARE-NAV-BEGIN> 45.17
<PER-SHARE-NII> (0.40)
<PER-SHARE-GAIN-APPREC> 4.02
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (5.94)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 42.85
<EXPENSE-RATIO> 2.15<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $23,184,237 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $23,866,251 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH FEBRUARY 28, 1998.
<F3>ANNUALIZED.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 32 THROUGH 52 OF THE FORTIS STOCK FUNDS
SEMI-ANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000355716
<NAME> FORTIS FIDUCIARY FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> FORTIS FIDUCIARY FUND, INC. (CLASS H)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1998
<PERIOD-START> SEP-01-1997
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 60,238,188
<INVESTMENTS-AT-VALUE> 96,734,551
<RECEIVABLES> 631,577
<ASSETS-OTHER> 23,866,251<F1>
<OTHER-ITEMS-ASSETS> 40,219
<TOTAL-ASSETS> 121,272,598
<PAYABLE-FOR-SECURITIES> 498,648
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,990,858<F1>
<TOTAL-LIABILITIES> 24,489,506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50,752,885
<SHARES-COMMON-STOCK> 191,822
<SHARES-COMMON-PRIOR> 144,129
<ACCUMULATED-NII-CURRENT> (303,963)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,837,807
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 36,496,363
<NET-ASSETS> 96,783,092
<DIVIDEND-INCOME> 193,356
<INTEREST-INCOME> 183,972
<OTHER-INCOME> 18,921<F2>
<EXPENSES-NET> (700,212)
<NET-INVESTMENT-INCOME> (303,963)
<REALIZED-GAINS-CURRENT> 11,092,452
<APPREC-INCREASE-CURRENT> (2,106,367)
<NET-CHANGE-FROM-OPS> 8,682,122
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (954,059)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 42,112
<NUMBER-OF-SHARES-REDEEMED> (18,868)
<SHARES-REINVESTED> 24,449
<NET-CHANGE-IN-ASSETS> 2,936,547
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 10,954,230
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 471,238
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 700,212
<AVERAGE-NET-ASSETS> 94,616,000
<PER-SHARE-NAV-BEGIN> 45.16
<PER-SHARE-NII> (0.41)
<PER-SHARE-GAIN-APPREC> 4.02
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (5.94)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 42.83
<EXPENSE-RATIO> 2.15<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $23,184,237 WERE ON LOAN TO BROKERS FROM THE PORTFOLIO.
FOR COLLATERAL, THE PORTFOLIO'S CUSTODIAN RECEIVED $23,866,251 IN CASH.
<F2>SECURITY LENDING INCOME THROUGH FEBRUARY 28, 1998.
<F3>ANNUALIZED.
</FN>
</TABLE>
The Fund has removed certain nonfundamental
investment restrictions previously required by one
or more state securities regulators.
