<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Kemper
Cash Reserves Fund Annual Report for the fiscal year ended 9/30/2000 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000701638
<NAME> KEMPER PORTFOLIOS
<SERIES>
<NUMBER> 04
<NAME> KEMPER CASH RESERVES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 490,915,532
<INVESTMENTS-AT-VALUE> 490,915,532
<RECEIVABLES> 47,257,677
<ASSETS-OTHER> 870
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 538,174,079
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,528,190
<TOTAL-LIABILITIES> 5,528,190
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 251,618,728
<SHARES-COMMON-PRIOR> 264,609,456
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 532,645,889
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 32,594,859
<OTHER-INCOME> 0
<EXPENSES-NET> 7,332,992
<NET-INVESTMENT-INCOME> 25,261,867
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,315,703,189
<NUMBER-OF-SHARES-REDEEMED> (6,337,071,917)
<SHARES-REINVESTED> 8,378,489
<NET-CHANGE-IN-ASSETS> (115,359,078)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,051,259
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7,370,736
<AVERAGE-NET-ASSETS> 242,446,923
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.92
</TABLE>
