<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary finanical information extracted from the Kemper
Cash Reserves Fund Semiannual Report for the six months ended 3/31/00 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<CIK> 0000701638
<NAME> KEMPER PORTFOLIOS
<SERIES>
<NUMBER> 002
<NAME> KEMPER CASH RESERVES FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 692,445
<INVESTMENTS-AT-VALUE> 692,445
<RECEIVABLES> 8,636
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 701,081
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 165,317
<TOTAL-LIABILITIES> 165,317
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 535,764
<SHARES-COMMON-STOCK> 239,025
<SHARES-COMMON-PRIOR> 286,625
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 535,764
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 16,995
<OTHER-INCOME> 0
<EXPENSES-NET> 4,074
<NET-INVESTMENT-INCOME> 12,921
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12,921
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4,780
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 375,440
<NUMBER-OF-SHARES-REDEEMED> (401,158)
<SHARES-REINVESTED> 4,129
<NET-CHANGE-IN-ASSETS> (112,241)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,132
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,077
<AVERAGE-NET-ASSETS> 241,157
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.85
</TABLE>
