<PAGE> PAGE 1
000 B000000 07/31/98
000 C000000 0000701960
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 MERRILL LYNCH PHOENIX FUND, INC.
001 B000000 811-3450
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
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 FUND ASSET MANAGEMENT, L.P.
008 B000001 A
008 C000001 801-12485
008 D010001 PRINCETON
008 D020001 NJ
008 D030001 08543
008 D040001 9011
008 A000002 MERRILL LYNCH ASSET MANAGEMENT U.K., LTD.
008 B000002 S
008 C000002 801-31780
008 D010002 LONDON
008 D050002 ENGLAND
008 D060002 EC24 9LY
011 A000001 MERRILL LYNCH FUNDS DISTRIBUTOR, INC.
011 B000001 8-14663
011 C010001 PRINCETON
011 C020001 NJ
011 C030001 08543
<PAGE> PAGE 2
011 C040001 9011
012 A000001 FINANCIAL DATA SERVICES, INC.
012 B000001 84-01339
012 C010001 JACKSONVILLE
012 C020001 FL
012 C030001 32246
012 C040001 6484
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 PRINCETON
013 B020001 NJ
013 B030001 08540
014 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
014 B000001 8-7221
015 A000001 THE CHASE MANHATTAN BANK, N.A.
015 B000001 C
015 C010001 BROOKLYN
015 C020001 NY
015 C030001 11245
015 E010001 X
015 A000002 RITS
015 B000002 S
015 C010002 SYDNEY
015 D010002 AUSTRALIA
015 E040002 X
015 A000003 BANK LEUMI LE-ISRAEL B.M.
015 B000003 S
015 C010003 TEL AVIV
015 D010003 ISRAEL
015 E040003 X
015 A000004 CHASE MANHATTAN BANK AUSTRALIA LIMITED
015 B000004 S
015 C010004 SYDNEY
015 D010004 AUSTRALIA
015 E040004 X
015 A000005 AUSTRACLEAR LIMITED
015 B000005 S
015 C010005 AUSTRALIA
015 D010005 AUSTRALIA
015 E040005 X
015 A000006 CDS
015 B000006 S
015 C010006 CANADA
015 D010006 CANADA
015 E040006 X
015 A000007 ROYAL BANK OF CANADA
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 E040007 X
015 A000008 CANADIAN IMPERIAL BANK OF COMMERCE
015 B000008 S
<PAGE> PAGE 3
015 C010008 TORONTO
015 D010008 CANADA
015 E040008 X
015 A000009 CREST
015 B000009 S
015 C010009 UNITED KINGDOM
015 D010009 UNITED KINGDOM
015 E040009 X
015 A000010 FIRST NATIONAL BANK OF CHICAGO
015 B000010 S
015 C010010 CHICAGO
015 C020010 IL
015 C030010 10019
015 E010010 X
015 A000011 CMO
015 B000011 S
015 C010011 UNITED KINGDOM
015 D010011 UNITED KINGDOM
015 E040011 X
015 A000012 THE BANK OF NEW YORK
015 B000012 S
015 C010012 NEW YORK
015 C020012 NY
015 C030012 10015
015 E010012 X
015 A000013 BANKERS TRUST COMPANY
015 B000013 S
015 C010013 NEW YORK
015 C020013 NY
015 C030013 10006
015 E010013 X
015 A000014 CHESS
015 B000014 S
015 C010014 AUSTRALIA
015 D010014 AUSTRALIA
015 E040014 X
015 A000015 CUSTODIAL TRUST CO.
015 B000015 S
015 C010015 NEW YORK
015 C020015 NY
015 C030015 10167
015 E010015 X
015 A000016 MORGAN GUARANTEE TRUST CO.
015 B000016 S
015 C010016 NEW YORK
015 C020016 NY
015 C030016 10260
015 E010016 X
015 A000017 CGO
015 B000017 S
015 C010017 UNITED KINGDOM
<PAGE> PAGE 4
015 D010017 UNITED KINGDOM
015 E040017 X
015 A000018 TASE
015 B000018 S
015 C010018 ISRAEL
015 D010018 ISRAEL
015 E040018 X
018 000000 Y
019 A000000 Y
019 B000000 209
019 C000000 MERRILLLYN
020 A000001 FURMAN SELZ LLC
020 B000001 13-3856626
020 C000001 197
020 A000002 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000002 13-2741729
020 C000002 172
020 A000003 BUCKINGHAM RESEARCH GROUP INCORPORATED (THE)
020 B000003 13-3134008
020 C000003 142
020 A000004 BRIDGE TRADING COMPANY
020 B000004 43-1450530
020 C000004 131
020 A000005 SMITH BARNEY INC.
020 B000005 13-1912900
020 C000005 127
020 A000006 CREDIT SUISSE FIRST BOSTON CORPORATION
020 B000006 13-5659485
020 C000006 116
020 A000007 LEHMAN BROTHERS INC.
020 B000007 13-2518466
020 C000007 115
020 A000008 RAYMOND JAMES & ASSOCIATES, INC.
020 B000008 59-1237041
020 C000008 88
020 A000009 GERARD KLAUER MATTISON & CO., INC.
020 C000009 74
020 A000010 CANTOR FITZGERALD SECURITIES
020 B000010 13-3680187
020 C000010 69
021 000000 2155
022 A000001 GENERAL MOTORS ACCEPTANCE CORP.
022 C000001 4115125
022 D000001 0
022 A000002 GENERAL ELECTRIC CAPITAL CORP.
022 C000002 889166
022 D000002 0
022 A000003 ASSOCIATE CORP. OF NORTH AMERICA
022 C000003 382090
022 D000003 0
022 A000004 MORGAN STANLEY & CO. INCORPORATED
<PAGE> PAGE 5
022 B000004 13-2655998
022 C000004 225456
022 D000004 13180
022 A000005 FORD MOTOR CREDIT CO.
022 C000005 237998
022 D000005 0
022 A000006 CIT GROUP/CAPITAL INVESTMENTS INC. (THE)
022 C000006 140520
022 D000006 0
022 A000007 GOLDMAN, SACHS & CO.
022 B000007 13-5108880
022 C000007 118159
022 D000007 10414
022 A000008 CHASE SECURITIES INC.
022 B000008 13-3112953
022 C000008 64594
022 D000008 0
022 A000009 SMITH BARNEY INC.
022 B000009 13-1912900
022 C000009 13980
022 D000009 49636
022 A000010 CREDIT SUISSE FIRST BOSTON CORPORATION
022 B000010 13-5659485
022 C000010 40852
022 D000010 22412
023 C000000 6502099
023 D000000 256795
024 000000 N
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 8245
028 A020000 0
028 A030000 0
028 A040000 15445
028 B010000 13887
028 B020000 0
028 B030000 0
028 B040000 20122
028 C010000 8767
028 C020000 0
028 C030000 0
028 C040000 18575
028 D010000 9962
<PAGE> PAGE 6
028 D020000 0
028 D030000 0
028 D040000 19381
028 E010000 8080
028 E020000 0
028 E030000 0
028 E040000 15161
028 F010000 7392
028 F020000 0
028 F030000 0
028 F040000 16607
028 G010000 56333
028 G020000 0
028 G030000 0
028 G040000 105291
028 H000000 20110
029 000000 Y
030 A000000 54
030 B000000 5.25
030 C000000 0.00
031 A000000 4
031 B000000 0
032 000000 0
033 000000 50
034 000000 Y
035 000000 374
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 3582
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 1.000
048 B010000 500000
048 B020000 0.950
<PAGE> PAGE 7
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 1000000
048 K020000 0.900
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
055 A000000 Y
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 1000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
<PAGE> PAGE 8
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
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 N
070 A020000 N
070 B010000 N
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 N
070 D020000 N
070 E010000 N
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
<PAGE> PAGE 9
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 538292
071 B000000 650239
071 C000000 662883
071 D000000 81
072 A000000 12
072 B000000 9348
072 C000000 5802
072 D000000 0
072 E000000 0
072 F000000 7182
072 G000000 134
072 H000000 0
072 I000000 1414
072 J000000 48
072 K000000 0
072 L000000 107
072 M000000 75
072 N000000 65
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 42
072 S000000 37
072 T000000 3582
072 U000000 0
072 V000000 0
072 W000000 19
072 X000000 12705
072 Y000000 0
072 Z000000 2445
072AA000000 171420
072BB000000 35872
072CC010000 0
072CC020000 64284
072DD010000 2560
072DD020000 346
072EE000000 156036
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 0
<PAGE> PAGE 10
074 B000000 0
074 C000000 50101
074 D000000 87198
074 E000000 0
074 F000000 545101
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 2203
074 K000000 0
074 L000000 1408
074 M000000 32
074 N000000 686043
074 O000000 12743
074 P000000 891
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 2001
074 S000000 0
074 T000000 670408
074 U010000 27654
074 U020000 23036
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 55249
074 Y000000 0
075 A000000 0
075 B000000 728593
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 O000000 Y
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 2500
081 A000000 Y
081 B000000 127
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE GERALD M. RICHARD
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000701960
<NAME> MERRILL LYNCH PHOENIX FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 692933038
<INVESTMENTS-AT-VALUE> 682399517
<RECEIVABLES> 3610845
<ASSETS-OTHER> 32151
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 686042513
<PAYABLE-FOR-SECURITIES> 12742895
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2891491
<TOTAL-LIABILITIES> 15634386
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 589548469
<SHARES-COMMON-STOCK> 20985805
<SHARES-COMMON-PRIOR> 19714408
<ACCUMULATED-NII-CURRENT> 2209139
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 89184115
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (10533596)
<NET-ASSETS> 283005115
<DIVIDEND-INCOME> 5801927
<INTEREST-INCOME> 9347884
<OTHER-INCOME> 0
<EXPENSES-NET> (12705065)
<NET-INVESTMENT-INCOME> 2444746
<REALIZED-GAINS-CURRENT> 135548116
<APPREC-INCREASE-CURRENT> (64284208)
<NET-CHANGE-FROM-OPS> 73708654
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2071936)
<DISTRIBUTIONS-OF-GAINS> (63710745)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3072942
<NUMBER-OF-SHARES-REDEEMED> (6083241)
<SHARES-REINVESTED> 4281696
<NET-CHANGE-IN-ASSETS> (68406581)
<ACCUMULATED-NII-PRIOR> 1664384
<ACCUMULATED-GAINS-PRIOR> 110678845
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7181685
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12705065
<AVERAGE-NET-ASSETS> 302956119
<PER-SHARE-NAV-BEGIN> 15.32
<PER-SHARE-NII> .12
<PER-SHARE-GAIN-APPREC> 1.33
<PER-SHARE-DIVIDEND> (.11)
<PER-SHARE-DISTRIBUTIONS> (3.17)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.49
<EXPENSE-RATIO> 1.24
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000701960
<NAME> MERRILL LYNCH PHOENIX FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 692933038
<INVESTMENTS-AT-VALUE> 682399517
<RECEIVABLES> 3610845
<ASSETS-OTHER> 32151
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 686042513
<PAYABLE-FOR-SECURITIES> 12742895
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2891491
<TOTAL-LIABILITIES> 15634386
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 589548469
<SHARES-COMMON-STOCK> 22154170
<SHARES-COMMON-PRIOR> 22748088
<ACCUMULATED-NII-CURRENT> 2209139
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 89184115
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (10533596)
<NET-ASSETS> 286396286
<DIVIDEND-INCOME> 5801927
<INTEREST-INCOME> 9347884
<OTHER-INCOME> 0
<EXPENSES-NET> (12705065)
<NET-INVESTMENT-INCOME> 2444746
<REALIZED-GAINS-CURRENT> 135548116
<APPREC-INCREASE-CURRENT> (64284208)
<NET-CHANGE-FROM-OPS> 73708654
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (331618)
<DISTRIBUTIONS-OF-GAINS> (70993494)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3021386
<NUMBER-OF-SHARES-REDEEMED> (8701203)
<SHARES-REINVESTED> 5085899
<NET-CHANGE-IN-ASSETS> (68406581)
<ACCUMULATED-NII-PRIOR> 1664384
<ACCUMULATED-GAINS-PRIOR> 110678845
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7181685
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12705065
<AVERAGE-NET-ASSETS> 322189946
<PER-SHARE-NAV-BEGIN> 14.82
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> 1.28
<PER-SHARE-DIVIDEND> (.01)
<PER-SHARE-DISTRIBUTIONS> (3.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.93
<EXPENSE-RATIO> 2.26
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000701960
<NAME> MERRILL LYNCH PHOENIX FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 692933038
<INVESTMENTS-AT-VALUE> 682399517
<RECEIVABLES> 3610845
<ASSETS-OTHER> 32151
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 686042513
<PAYABLE-FOR-SECURITIES> 12742895
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2891491
<TOTAL-LIABILITIES> 15634386
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 589548469
<SHARES-COMMON-STOCK> 882195
<SHARES-COMMON-PRIOR> 981218
<ACCUMULATED-NII-CURRENT> 2209139
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 89184115
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (10533596)
<NET-ASSETS> 11315816
<DIVIDEND-INCOME> 5801927
<INTEREST-INCOME> 9347884
<OTHER-INCOME> 0
<EXPENSES-NET> (12705065)
<NET-INVESTMENT-INCOME> 2444746
<REALIZED-GAINS-CURRENT> 135548116
<APPREC-INCREASE-CURRENT> (64284208)
<NET-CHANGE-FROM-OPS> 73708654
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14683)
<DISTRIBUTIONS-OF-GAINS> (2997794)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 446268
<NUMBER-OF-SHARES-REDEEMED> (755911)
<SHARES-REINVESTED> 210620
<NET-CHANGE-IN-ASSETS> (68406581)
<ACCUMULATED-NII-PRIOR> 1664384
<ACCUMULATED-GAINS-PRIOR> 110678845
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7181685
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12705065
<AVERAGE-NET-ASSETS> 13137629
<PER-SHARE-NAV-BEGIN> 14.72
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> 1.29
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> (3.13)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.83
<EXPENSE-RATIO> 2.27
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000701960
<NAME> MERRILL LYNCH PHOENIX FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> CLASS D
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1998
<PERIOD-START> AUG-01-1997
<PERIOD-END> JUL-31-1998
<INVESTMENTS-AT-COST> 692933038
<INVESTMENTS-AT-VALUE> 682399517
<RECEIVABLES> 3610845
<ASSETS-OTHER> 32151
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 686042513
<PAYABLE-FOR-SECURITIES> 12742895
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2891491
<TOTAL-LIABILITIES> 15634386
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 589548469
<SHARES-COMMON-STOCK> 6668556
<SHARES-COMMON-PRIOR> 5586132
<ACCUMULATED-NII-CURRENT> 2209139
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 89184115
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (10533596)
<NET-ASSETS> 89690910
<DIVIDEND-INCOME> 5801927
<INTEREST-INCOME> 9347884
<OTHER-INCOME> 0
<EXPENSES-NET> (12705065)
<NET-INVESTMENT-INCOME> 2444746
<REALIZED-GAINS-CURRENT> 135548116
<APPREC-INCREASE-CURRENT> (64284208)
<NET-CHANGE-FROM-OPS> 73708654
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (488410)
<DISTRIBUTIONS-OF-GAINS> (18334157)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2122105
<NUMBER-OF-SHARES-REDEEMED> (2321058)
<SHARES-REINVESTED> 1281377
<NET-CHANGE-IN-ASSETS> (68406581)
<ACCUMULATED-NII-PRIOR> 1664384
<ACCUMULATED-GAINS-PRIOR> 110678845
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 7181685
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12705065
<AVERAGE-NET-ASSETS> 90309453
<PER-SHARE-NAV-BEGIN> 15.29
<PER-SHARE-NII> .08
<PER-SHARE-GAIN-APPREC> 1.33
<PER-SHARE-DIVIDEND> (.09)
<PER-SHARE-DISTRIBUTIONS> (3.16)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.45
<EXPENSE-RATIO> 1.51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
