<PAGE> PAGE 1
000 B000000 12/31/97
000 C000000 0000053808
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 THE DREYFUS/LAUREL FUNDS TRUST
001 B000000 811-524
001 C000000 2129226796
002 A000000 200 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10166
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C010200 2
007 C010300 3
007 C020300 DREYFUS PREMIER MANAGED INCOME FUND
007 C030300 N
007 C010400 4
007 C010500 5
007 C020500 DREYFUS PREMIER CORE VALUE FUND
007 C030500 N
007 C010600 6
007 C010700 7
007 C020700 DREYFUS PREMIER LIMITED TERM HIGH INCOME FUND
007 C030700 N
007 C010800 8
007 C010900 9
007 C011000 10
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10145
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 151
019 C00AA00 DREYFUSFAM
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
020 B000001 13-5674085
020 C000001 128
020 A000002 SANFORD C. BERNSTEIN & CO., INC.
020 B000002 13-2625874
<PAGE> PAGE 2
020 C000002 122
020 A000003 MORGAN STANLEY & CO., INCORPORATED
020 B000003 13-2655998
020 C000003 120
020 A000004 CS FIRST BOSTON CORPORATION
020 B000004 13-5659485
020 C000004 69
020 A000005 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000005 13-2741729
020 C000005 66
020 A000006 BEAR, STEARNS & CO. INC.
020 B000006 13-3299429
020 C000006 63
020 A000007 SMITH BARNEY INC.
020 B000007 13-1912900
020 C000007 58
020 A000008 GOLDMAN, SACHS & CO.
020 B000008 13-5108880
020 C000008 58
020 A000009 LEWCO SECURITIES CORP.
020 B000009 13-2765944
020 C000009 56
020 A000010 SALOMON BROTHERS, INC.
020 B000010 13-3082694
020 C000010 56
021 000000 1638
022 A000001 DEAN WITTER, DISCOVER & CO.
022 B000001 94-1671384
022 C000001 4107404
022 D000001 0
022 A000002 HSBC SECURITIES, INC.
022 B000002 13-2650272
022 C000002 245027
022 D000002 7117
022 A000003 SANWA SECURITIES (USA) CO., L.P.
022 B000003 13-3046258
022 C000003 88807
022 D000003 0
022 A000004 DEUTSCHE BANK SECURITIES CORPORATION
022 B000004 13-2730828
022 C000004 35319
022 D000004 38524
022 A000005 BEAR, STEARNS & CO., INC.
022 B000005 13-3299429
022 C000005 51317
022 D000005 13074
022 A000006 GOLDMAN, SACHS & CO.
022 B000006 13-5108880
022 C000006 45139
022 D000006 14023
022 A000007 CS FIRST BOSTON CORPORATION
<PAGE> PAGE 3
022 B000007 13-5659485
022 C000007 28641
022 D000007 29298
022 A000008 SALOMON BROTHERS INC.
022 B000008 13-3082694
022 C000008 27427
022 D000008 25770
022 A000009 LEHMAN BROTHERS INC.
022 B000009 13-2518466
022 C000009 33385
022 D000009 16955
022 A000010 WASSERSTEIN PERELLA SECURITIES, INC.
022 B000010 13-3502273
022 C000010 41394
022 D000010 1978
023 C000000 5080054
023 D000000 286843
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
077 A000000 Y
077 B000000 Y
080 A00AA00 VIGILANT INSURANCE COMPANY
080 B00AA00 NATIONAL UNION FIRE INS. OF PITTSBURGH, PA
080 C00AA00 125000
081 A00AA00 Y
081 B00AA00 171
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
024 000300 Y
025 A000301 LEHMAN BROTHERS INC.
025 B000301 13-2518466
025 C000301 D
025 D000301 1778
025 A000302 SALOMON BROTHERS INC.
025 B000302 13-3082694
025 C000302 D
025 D000302 458
<PAGE> PAGE 4
028 A010300 1417
028 A020300 415
028 A030300 0
028 A040300 12957
028 B010300 889
028 B020300 417
028 B030300 0
028 B040300 1520
028 C010300 1072
028 C020300 414
028 C030300 0
028 C040300 1188
028 D010300 1031
028 D020300 415
028 D030300 0
028 D040300 2137
028 E010300 862
028 E020300 411
028 E030300 0
028 E040300 1198
028 F010300 1759
028 F020300 406
028 F030300 0
028 F040300 5032
028 G010300 7030
028 G020300 2478
028 G030300 0
028 G040300 24032
028 H000300 12
029 000300 Y
030 A000300 0
030 B000300 4.50
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 0
033 000300 0
034 000300 Y
035 000300 9
036 A000300 N
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 83
042 B000300 0
042 C000300 17
042 D000300 0
042 E000300 0
<PAGE> PAGE 5
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 252
044 000300 0
054 A000300 Y
054 B000300 Y
054 C000300 Y
054 D000300 Y
054 E000300 Y
054 F000300 Y
054 G000300 Y
054 H000300 Y
054 I000300 Y
054 J000300 Y
054 K000300 Y
054 L000300 Y
054 M000300 Y
054 N000300 Y
054 O000300 Y
055 A000300 Y
055 B000300 N
057 000300 N
058 A000300 N
058 B000300 N
061 000300 1000
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 2.2
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 5.4
062 N000300 23.4
062 O000300 0.0
062 P000300 73.4
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 9.7
064 A000300 Y
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
<PAGE> PAGE 6
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 225673
071 B000300 229632
071 C000300 92323
071 D000300 244
072 A000300 12
072 B000300 7199
072 C000300 11
072 D000300 0
072 E000300 0
072 F000300 656
072 G000300 0
072 H000300 0
072 I000300 0
<PAGE> PAGE 7
072 J000300 0
072 K000300 0
072 L000300 0
072 M000300 0
072 N000300 0
072 O000300 0
072 P000300 1
072 Q000300 0
072 R000300 0
072 S000300 0
072 T000300 253
072 U000300 0
072 V000300 0
072 W000300 0
072 X000300 910
072 Y000300 0
072 Z000300 6300
072AA000300 2062
072BB000300 1142
072CC010300 1470
072CC020300 0
072DD010300 4957
072DD020300 1303
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 422
074 B000300 0
074 C000300 1988
074 D000300 93847
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 1255
074 M000300 0
074 N000300 97512
074 O000300 1952
074 P000300 70
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 3679
074 S000300 0
074 T000300 91811
<PAGE> PAGE 8
074 U010300 6618
074 U020300 1720
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 4555
074 Y000300 0
075 A000300 0
075 B000300 74039
076 000300 0.00
024 000500 Y
025 A000501 MORGAN STANLEY & CO. INCORPORATED
025 B000501 13-2655998
025 C000501 E
025 D000501 11050
025 A000502 UBS SECURITIES INC.
025 B000502 13-2932996
025 C000502 E
025 D000502 463
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 25307
028 A020500 0
028 A030500 0
028 A040500 22787
028 B010500 20890
028 B020500 0
028 B030500 0
028 B040500 20218
028 C010500 9798
028 C020500 641
028 C030500 0
028 C040500 9435
028 D010500 9153
028 D020500 0
028 D030500 0
028 D040500 13646
028 E010500 9327
028 E020500 0
028 E030500 0
028 E040500 12256
028 F010500 17719
028 F020500 104521
028 F030500 0
028 F040500 30708
028 G010500 92194
028 G020500 105162
<PAGE> PAGE 9
028 G030500 0
028 G040500 109050
028 H000500 0
029 000500 Y
030 A000500 0
030 B000500 4.50
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
042 A000500 94
042 B000500 0
042 C000500 6
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 1512
044 000500 0
053 A000500 Y
053 B000500 Y
053 C000500 N
054 A000500 Y
054 B000500 Y
054 C000500 Y
054 D000500 Y
054 E000500 Y
054 F000500 Y
054 G000500 Y
054 H000500 Y
054 I000500 Y
054 J000500 Y
054 K000500 Y
054 L000500 Y
054 M000500 Y
054 N000500 Y
054 O000500 Y
055 A000500 Y
055 B000500 N
056 000500 N
057 000500 N
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
<PAGE> PAGE 10
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 Y
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
<PAGE> PAGE 11
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 586686
071 B000500 611771
071 C000500 630853
071 D000500 93
072 A000500 12
072 B000500 655
072 C000500 10917
072 D000500 0
072 E000500 0
072 F000500 5843
072 G000500 0
072 H000500 0
072 I000500 0
072 J000500 0
072 K000500 0
072 L000500 0
072 M000500 0
072 N000500 0
072 O000500 0
072 P000500 7
072 Q000500 0
072 R000500 0
072 S000500 0
072 T000500 1512
072 U000500 0
072 V000500 0
072 W000500 0
072 X000500 7362
072 Y000500 48
072 Z000500 4258
072AA000500 152411
072BB000500 17614
072CC010500 2183
072CC020500 0
072DD010500 3906
072DD020500 744
072EE000500 117738
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 264
074 B000500 0
074 C000500 873
074 D000500 0
<PAGE> PAGE 12
074 E000500 6999
074 F000500 656643
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 17477
074 K000500 0
074 L000500 1081
074 M000500 1692
074 N000500 685029
074 O000500 2753
074 P000500 663
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 14695
074 S000500 0
074 T000500 666918
074 U010500 19447
074 U020500 2701
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 20607
074 Y000500 0
075 A000500 0
075 B000500 557775
076 000500 0.00
024 000700 N
028 A010700 35644
028 A020700 161
028 A030700 0
028 A040700 331
028 B010700 41414
028 B020700 269
028 B030700 0
028 B040700 5251
028 C010700 53379
028 C020700 308
028 C030700 0
028 C040700 6211
028 D010700 55720
028 D020700 432
028 D030700 0
028 D040700 1025
028 E010700 54695
028 E020700 488
028 E030700 0
028 E040700 1523
028 F010700 82111
<PAGE> PAGE 13
028 F020700 787
028 F030700 0
028 F040700 2447
028 G010700 322963
028 G020700 2445
028 G030700 0
028 G040700 16788
028 H000700 1104
029 000700 Y
030 A000700 0
030 B000700 4.50
030 C000700 0.00
031 A000700 0
031 B000700 0
032 000700 0
033 000700 0
034 000700 Y
035 000700 49
036 A000700 N
036 B000700 0
037 000700 N
038 000700 0
039 000700 N
040 000700 Y
041 000700 Y
042 A000700 92
042 B000700 0
042 C000700 8
042 D000700 0
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 562
044 000700 0
053 A000700 N
054 A000700 Y
054 B000700 Y
054 C000700 Y
054 D000700 Y
054 E000700 Y
054 F000700 Y
054 G000700 Y
054 H000700 Y
054 I000700 Y
054 J000700 Y
054 K000700 Y
054 L000700 Y
054 M000700 Y
054 N000700 Y
054 O000700 Y
<PAGE> PAGE 14
055 A000700 Y
055 B000700 N
056 000700 N
057 000700 N
058 A000700 N
061 000700 1000
062 A000700 Y
062 B000700 0.0
062 C000700 0.2
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 96.7
062 Q000700 0.0
062 R000700 1.0
063 A000700 0
063 B000700 2.7
064 A000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 N
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
<PAGE> PAGE 15
070 J020700 Y
070 K010700 Y
070 K020700 N
070 L010700 Y
070 L020700 Y
070 M010700 Y
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 355111
071 B000700 38683
071 C000700 134157
071 D000700 29
072 A000700 8
072 B000700 8215
072 C000700 1
072 D000700 0
072 E000700 0
072 F000700 595
072 G000700 0
072 H000700 0
072 I000700 0
072 J000700 0
072 K000700 0
072 L000700 0
072 M000700 0
072 N000700 0
072 O000700 0
072 P000700 71
072 Q000700 0
072 R000700 0
072 S000700 0
072 T000700 562
072 U000700 0
072 V000700 0
072 W000700 0
072 X000700 1228
072 Y000700 0
072 Z000700 6988
072AA000700 470
072BB000700 617
072CC010700 0
072CC020700 2479
<PAGE> PAGE 16
072DD010700 1398
072DD020700 5587
072EE000700 0
073 A010700 0.0000
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 0
074 B000700 0
074 C000700 564
074 D000700 320593
074 E000700 3230
074 F000700 0
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 11139
074 M000700 0
074 N000700 335526
074 O000700 2994
074 P000700 328
074 Q000700 416
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 404
074 S000700 0
074 T000700 331384
074 U010700 5272
074 U020700 21318
074 V010700 0.00
074 V020700 0.00
074 W000700 0.0000
074 X000700 6737
074 Y000700 0
075 A000700 0
075 B000700 25564
076 000700 0.00
SIGNATURE MICHAEL S. PETRUCELLI
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 001
<NAME> CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 326866
<INVESTMENTS-AT-VALUE> 324387
<RECEIVABLES> 11139
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 335526
<PAYABLE-FOR-SECURITIES> 2994
<SENIOR-LONG-TERM-DEBT> 416
<OTHER-ITEMS-LIABILITIES> 732
<TOTAL-LIABILITIES> 4142
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 334008
<SHARES-COMMON-STOCK> 5272
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 3
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (147)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2480)
<NET-ASSETS> 65705
<DIVIDEND-INCOME> 1
<INTEREST-INCOME> 8215
<OTHER-INCOME> 0
<EXPENSES-NET> 1228
<NET-INVESTMENT-INCOME> 6988
<REALIZED-GAINS-CURRENT> (147)
<APPREC-INCREASE-CURRENT> (2479)
<NET-CHANGE-FROM-OPS> 4362
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1398)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6105
<NUMBER-OF-SHARES-REDEEMED> (897)
<SHARES-REINVESTED> 65
<NET-CHANGE-IN-ASSETS> 331384
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 595
<INTEREST-EXPENSE> 71
<GROSS-EXPENSE> 1228
<AVERAGE-NET-ASSETS> 25564
<PER-SHARE-NAV-BEGIN> 12.50
<PER-SHARE-NII> .710
<PER-SHARE-GAIN-APPREC> (.040)
<PER-SHARE-DIVIDEND> (.710)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.46
<EXPENSE-RATIO> .011
<AVG-DEBT-OUTSTANDING> 1833
<AVG-DEBT-PER-SHARE> .164
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 002
<NAME> CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 326866
<INVESTMENTS-AT-VALUE> 324387
<RECEIVABLES> 11139
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 335526
<PAYABLE-FOR-SECURITIES> 2994
<SENIOR-LONG-TERM-DEBT> 416
<OTHER-ITEMS-LIABILITIES> 732
<TOTAL-LIABILITIES> 4142
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 334008
<SHARES-COMMON-STOCK> 15894
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 3
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (147)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2480)
<NET-ASSETS> 198057
<DIVIDEND-INCOME> 1
<INTEREST-INCOME> 8215
<OTHER-INCOME> 0
<EXPENSES-NET> 1228
<NET-INVESTMENT-INCOME> 6988
<REALIZED-GAINS-CURRENT> (147)
<APPREC-INCREASE-CURRENT> (2479)
<NET-CHANGE-FROM-OPS> 4362
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4057)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16027
<NUMBER-OF-SHARES-REDEEMED> (227)
<SHARES-REINVESTED> 94
<NET-CHANGE-IN-ASSETS> 331384
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 595
<INTEREST-EXPENSE> 71
<GROSS-EXPENSE> 1228
<AVERAGE-NET-ASSETS> 78314
<PER-SHARE-NAV-BEGIN> 12.50
<PER-SHARE-NII> .660
<PER-SHARE-GAIN-APPREC> (.040)
<PER-SHARE-DIVIDEND> (.660)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.46
<EXPENSE-RATIO> .016
<AVG-DEBT-OUTSTANDING> 1833
<AVG-DEBT-PER-SHARE> .164
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 003
<NAME> CLASS C
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 326866
<INVESTMENTS-AT-VALUE> 324387
<RECEIVABLES> 11139
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 335526
<PAYABLE-FOR-SECURITIES> 2994
<SENIOR-LONG-TERM-DEBT> 416
<OTHER-ITEMS-LIABILITIES> 732
<TOTAL-LIABILITIES> 4142
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 334008
<SHARES-COMMON-STOCK> 5414
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 3
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (147)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2480)
<NET-ASSETS> 67495
<DIVIDEND-INCOME> 1
<INTEREST-INCOME> 8215
<OTHER-INCOME> 0
<EXPENSES-NET> 1228
<NET-INVESTMENT-INCOME> 6988
<REALIZED-GAINS-CURRENT> (147)
<APPREC-INCREASE-CURRENT> (2479)
<NET-CHANGE-FROM-OPS> 4362
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1510)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5552
<NUMBER-OF-SHARES-REDEEMED> (179)
<SHARES-REINVESTED> 41
<NET-CHANGE-IN-ASSETS> 331384
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 595
<INTEREST-EXPENSE> 71
<GROSS-EXPENSE> 1228
<AVERAGE-NET-ASSETS> 29851
<PER-SHARE-NAV-BEGIN> 12.50
<PER-SHARE-NII> .650
<PER-SHARE-GAIN-APPREC> (.030)
<PER-SHARE-DIVIDEND> (.650)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.47
<EXPENSE-RATIO> .018
<AVG-DEBT-OUTSTANDING> 1833
<AVG-DEBT-PER-SHARE> .164
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 004
<NAME> CLASS R
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 8-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 326866
<INVESTMENTS-AT-VALUE> 324387
<RECEIVABLES> 11139
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 335526
<PAYABLE-FOR-SECURITIES> 2994
<SENIOR-LONG-TERM-DEBT> 416
<OTHER-ITEMS-LIABILITIES> 732
<TOTAL-LIABILITIES> 4142
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 334008
<SHARES-COMMON-STOCK> 10
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 3
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (147)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2480)
<NET-ASSETS> 127
<DIVIDEND-INCOME> 1
<INTEREST-INCOME> 8215
<OTHER-INCOME> 0
<EXPENSES-NET> 1228
<NET-INVESTMENT-INCOME> 6988
<REALIZED-GAINS-CURRENT> (147)
<APPREC-INCREASE-CURRENT> (2479)
<NET-CHANGE-FROM-OPS> 4362
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 40
<NUMBER-OF-SHARES-REDEEMED> 32
<SHARES-REINVESTED> 2
<NET-CHANGE-IN-ASSETS> 331384
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 595
<INTEREST-EXPENSE> 71
<GROSS-EXPENSE> 1228
<AVERAGE-NET-ASSETS> 346
<PER-SHARE-NAV-BEGIN> 12.50
<PER-SHARE-NII> .010
<PER-SHARE-GAIN-APPREC> (.140)
<PER-SHARE-DIVIDEND> (.720)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.45
<EXPENSE-RATIO> .008
<AVG-DEBT-OUTSTANDING> 1833
<AVG-DEBT-PER-SHARE> .164
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 005
<NAME> CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 579410
<INVESTMENTS-AT-VALUE> 664515
<RECEIVABLES> 18558
<ASSETS-OTHER> 1956
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 685029
<PAYABLE-FOR-SECURITIES> 2753
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15359
<TOTAL-LIABILITIES> 18112
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 566418
<SHARES-COMMON-STOCK> 19447
<SHARES-COMMON-PRIOR> 16015
<ACCUMULATED-NII-CURRENT> (166)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15596
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 85070
<NET-ASSETS> 585624
<DIVIDEND-INCOME> 10917
<INTEREST-INCOME> 655
<OTHER-INCOME> 0
<EXPENSES-NET> 7314
<NET-INVESTMENT-INCOME> 4258
<REALIZED-GAINS-CURRENT> 134797
<APPREC-INCREASE-CURRENT> 2183
<NET-CHANGE-FROM-OPS> 141238
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3906)
<DISTRIBUTIONS-OF-GAINS> (117738)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4296
<NUMBER-OF-SHARES-REDEEMED> (4447)
<SHARES-REINVESTED> 3584
<NET-CHANGE-IN-ASSETS> 96589
<ACCUMULATED-NII-PRIOR> 225
<ACCUMULATED-GAINS-PRIOR> 17599
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5843
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7362
<AVERAGE-NET-ASSETS> 557775
<PER-SHARE-NAV-BEGIN> 30.40
<PER-SHARE-NII> .220
<PER-SHARE-GAIN-APPREC> 6.980
<PER-SHARE-DIVIDEND> (.240)
<PER-SHARE-DISTRIBUTIONS> (7.250)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 30.11
<EXPENSE-RATIO> .011
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 006
<NAME> CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 579410
<INVESTMENTS-AT-VALUE> 664515
<RECEIVABLES> 18558
<ASSETS-OTHER> 1956
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 685029
<PAYABLE-FOR-SECURITIES> 2753
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15359
<TOTAL-LIABILITIES> 18112
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 566418
<SHARES-COMMON-STOCK> 2672
<SHARES-COMMON-PRIOR> 2366
<ACCUMULATED-NII-CURRENT> (166)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15596
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 85070
<NET-ASSETS> 80427
<DIVIDEND-INCOME> 10917
<INTEREST-INCOME> 655
<OTHER-INCOME> 0
<EXPENSES-NET> 7314
<NET-INVESTMENT-INCOME> 4258
<REALIZED-GAINS-CURRENT> 134797
<APPREC-INCREASE-CURRENT> 2183
<NET-CHANGE-FROM-OPS> 141238
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (615)
<DISTRIBUTIONS-OF-GAINS> (16088)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 630
<NUMBER-OF-SHARES-REDEEMED> (875)
<SHARES-REINVESTED> 551
<NET-CHANGE-IN-ASSETS> 96589
<ACCUMULATED-NII-PRIOR> 225
<ACCUMULATED-GAINS-PRIOR> 17599
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5843
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7362
<AVERAGE-NET-ASSETS> 77658
<PER-SHARE-NAV-BEGIN> 30.38
<PER-SHARE-NII> .260
<PER-SHARE-GAIN-APPREC> 6.980
<PER-SHARE-DIVIDEND> (.270)
<PER-SHARE-DISTRIBUTIONS> (7.250)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 30.11
<EXPENSE-RATIO> .010
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 007
<NAME> CLASS C
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 579410
<INVESTMENTS-AT-VALUE> 664515
<RECEIVABLES> 18558
<ASSETS-OTHER> 1956
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 685029
<PAYABLE-FOR-SECURITIES> 2753
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15359
<TOTAL-LIABILITIES> 18112
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 566418
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (166)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15596
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 85070
<NET-ASSETS> 0
<DIVIDEND-INCOME> 10917
<INTEREST-INCOME> 655
<OTHER-INCOME> 0
<EXPENSES-NET> 7314
<NET-INVESTMENT-INCOME> 4258
<REALIZED-GAINS-CURRENT> 134797
<APPREC-INCREASE-CURRENT> 2183
<NET-CHANGE-FROM-OPS> 141238
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 96589
<ACCUMULATED-NII-PRIOR> 225
<ACCUMULATED-GAINS-PRIOR> 17599
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5843
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7362
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> .000
<PER-SHARE-GAIN-APPREC> .000
<PER-SHARE-DIVIDEND> .000
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> .000
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 008
<NAME> CLASS R
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 579410
<INVESTMENTS-AT-VALUE> 664515
<RECEIVABLES> 18558
<ASSETS-OTHER> 1956
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 685029
<PAYABLE-FOR-SECURITIES> 2753
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15359
<TOTAL-LIABILITIES> 18112
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 566418
<SHARES-COMMON-STOCK> 29
<SHARES-COMMON-PRIOR> 381
<ACCUMULATED-NII-CURRENT> (166)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15596
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 85070
<NET-ASSETS> 867
<DIVIDEND-INCOME> 10917
<INTEREST-INCOME> 655
<OTHER-INCOME> 0
<EXPENSES-NET> 7314
<NET-INVESTMENT-INCOME> 4258
<REALIZED-GAINS-CURRENT> 134797
<APPREC-INCREASE-CURRENT> 2183
<NET-CHANGE-FROM-OPS> 141238
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (129)
<DISTRIBUTIONS-OF-GAINS> (2973)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 55
<NUMBER-OF-SHARES-REDEEMED> (513)
<SHARES-REINVESTED> 106
<NET-CHANGE-IN-ASSETS> 96589
<ACCUMULATED-NII-PRIOR> 225
<ACCUMULATED-GAINS-PRIOR> 17599
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5843
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7362
<AVERAGE-NET-ASSETS> 13467
<PER-SHARE-NAV-BEGIN> 30.46
<PER-SHARE-NII> .330
<PER-SHARE-GAIN-APPREC> 6.900
<PER-SHARE-DIVIDEND> (.330)
<PER-SHARE-DISTRIBUTIONS> (7.250)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 30.11
<EXPENSE-RATIO> .009
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 009
<NAME> CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 93543
<INVESTMENTS-AT-VALUE> 95853
<RECEIVABLES> 1255
<ASSETS-OTHER> 422
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 97512
<PAYABLE-FOR-SECURITIES> 1952
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3749
<TOTAL-LIABILITIES> 5701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96813
<SHARES-COMMON-STOCK> 6618
<SHARES-COMMON-PRIOR> 7206
<ACCUMULATED-NII-CURRENT> 40
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7334)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2292
<NET-ASSETS> 72877
<DIVIDEND-INCOME> 11
<INTEREST-INCOME> 7199
<OTHER-INCOME> 0
<EXPENSES-NET> 910
<NET-INVESTMENT-INCOME> 6300
<REALIZED-GAINS-CURRENT> 920
<APPREC-INCREASE-CURRENT> 1470
<NET-CHANGE-FROM-OPS> 8690
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4957)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 886
<NUMBER-OF-SHARES-REDEEMED> (1837)
<SHARES-REINVESTED> 364
<NET-CHANGE-IN-ASSETS> (3454)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8254)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 656
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 910
<AVERAGE-NET-ASSETS> 74039
<PER-SHARE-NAV-BEGIN> 10.73
<PER-SHARE-NII> .730
<PER-SHARE-GAIN-APPREC> .270
<PER-SHARE-DIVIDEND> (.720)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.01
<EXPENSE-RATIO> .010
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 010
<NAME> CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 93543
<INVESTMENTS-AT-VALUE> 95853
<RECEIVABLES> 1255
<ASSETS-OTHER> 422
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 97512
<PAYABLE-FOR-SECURITIES> 1952
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3749
<TOTAL-LIABILITIES> 5701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96813
<SHARES-COMMON-STOCK> 626
<SHARES-COMMON-PRIOR> 464
<ACCUMULATED-NII-CURRENT> 40
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7334)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2292
<NET-ASSETS> 6896
<DIVIDEND-INCOME> 11
<INTEREST-INCOME> 7199
<OTHER-INCOME> 0
<EXPENSES-NET> 910
<NET-INVESTMENT-INCOME> 6300
<REALIZED-GAINS-CURRENT> 920
<APPREC-INCREASE-CURRENT> 1470
<NET-CHANGE-FROM-OPS> 8690
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (351)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 307
<NUMBER-OF-SHARES-REDEEMED> (159)
<SHARES-REINVESTED> 15
<NET-CHANGE-IN-ASSETS> (3454)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8254)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 656
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 910
<AVERAGE-NET-ASSETS> 5916
<PER-SHARE-NAV-BEGIN> 10.73
<PER-SHARE-NII> .650
<PER-SHARE-GAIN-APPREC> .270
<PER-SHARE-DIVIDEND> (.640)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.01
<EXPENSE-RATIO> .017
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> CLASS C
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 93543
<INVESTMENTS-AT-VALUE> 95853
<RECEIVABLES> 1255
<ASSETS-OTHER> 422
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 97512
<PAYABLE-FOR-SECURITIES> 1952
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3749
<TOTAL-LIABILITIES> 5701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96813
<SHARES-COMMON-STOCK> 92
<SHARES-COMMON-PRIOR> 39
<ACCUMULATED-NII-CURRENT> 40
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7334)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2292
<NET-ASSETS> 1007
<DIVIDEND-INCOME> 11
<INTEREST-INCOME> 7199
<OTHER-INCOME> 0
<EXPENSES-NET> 910
<NET-INVESTMENT-INCOME> 6300
<REALIZED-GAINS-CURRENT> 920
<APPREC-INCREASE-CURRENT> 1470
<NET-CHANGE-FROM-OPS> 8690
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (46)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 65
<NUMBER-OF-SHARES-REDEEMED> (15)
<SHARES-REINVESTED> 2
<NET-CHANGE-IN-ASSETS> (3454)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8254)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 656
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 910
<AVERAGE-NET-ASSETS> 774
<PER-SHARE-NAV-BEGIN> 10.73
<PER-SHARE-NII> .640
<PER-SHARE-GAIN-APPREC> .290
<PER-SHARE-DIVIDEND> (.640)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.02
<EXPENSE-RATIO> .017
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> CLASS R
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 93543
<INVESTMENTS-AT-VALUE> 95853
<RECEIVABLES> 1255
<ASSETS-OTHER> 422
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 97512
<PAYABLE-FOR-SECURITIES> 1952
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3749
<TOTAL-LIABILITIES> 5701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96813
<SHARES-COMMON-STOCK> 1002
<SHARES-COMMON-PRIOR> 1172
<ACCUMULATED-NII-CURRENT> 40
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7334)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2292
<NET-ASSETS> 11031
<DIVIDEND-INCOME> 11
<INTEREST-INCOME> 7199
<OTHER-INCOME> 0
<EXPENSES-NET> 910
<NET-INVESTMENT-INCOME> 6300
<REALIZED-GAINS-CURRENT> 920
<APPREC-INCREASE-CURRENT> 1470
<NET-CHANGE-FROM-OPS> 8690
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (906)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 387
<NUMBER-OF-SHARES-REDEEMED> (631)
<SHARES-REINVESTED> 75
<NET-CHANGE-IN-ASSETS> (3454)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8254)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 656
<INTEREST-EXPENSE> 1
<GROSS-EXPENSE> 910
<AVERAGE-NET-ASSETS> 13051
<PER-SHARE-NAV-BEGIN> 10.73
<PER-SHARE-NII> .760
<PER-SHARE-GAIN-APPREC> .270
<PER-SHARE-DIVIDEND> (.750)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.01
<EXPENSE-RATIO> .007
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
