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<PAGE> PAGE 3
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 14
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 29
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<PAGE> PAGE 31
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<PAGE> PAGE 33
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SIGNATURE JAMES D. BENSON
TITLE CONTROLLER
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<EXPENSES-NET> 685176
<NET-INVESTMENT-INCOME> 382247
<REALIZED-GAINS-CURRENT> 12597090
<APPREC-INCREASE-CURRENT> 7613791
<NET-CHANGE-FROM-OPS> 20593128
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<DISTRIBUTIONS-OF-INCOME> 382247
<DISTRIBUTIONS-OF-GAINS> 12597090
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<NUMBER-OF-SHARES-SOLD> 255618
<NUMBER-OF-SHARES-REDEEMED> 500318
<SHARES-REINVESTED> 648967
<NET-CHANGE-IN-ASSETS> 15515389
<ACCUMULATED-NII-PRIOR> 0
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<GROSS-EXPENSE> 729674
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<PER-SHARE-NAV-BEGIN> 18.3
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> HIGH YIELD BOND FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 35804026
<INVESTMENTS-AT-VALUE> 35703814
<RECEIVABLES> 797182
<ASSETS-OTHER> 1243
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 36502239
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 60503
<TOTAL-LIABILITIES> 60503
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 40556192
<SHARES-COMMON-STOCK> 4318192
<SHARES-COMMON-PRIOR> 4040146
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4014244)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (100212)
<NET-ASSETS> 36441736
<DIVIDEND-INCOME> 18889
<INTEREST-INCOME> 3427637
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<EXPENSES-NET> 297796
<NET-INVESTMENT-INCOME> 3148730
<REALIZED-GAINS-CURRENT> (1070877)
<APPREC-INCREASE-CURRENT> 3034116
<NET-CHANGE-FROM-OPS> 5111969
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<DISTRIBUTIONS-OF-INCOME> 3148730
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<DISTRIBUTIONS-OTHER> 15253
<NUMBER-OF-SHARES-SOLD> 598550
<NUMBER-OF-SHARES-REDEEMED> 695380
<SHARES-REINVESTED> 374880
<NET-CHANGE-IN-ASSETS> 4360654
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2928114)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 170581
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<GROSS-EXPENSE> 297796
<AVERAGE-NET-ASSETS> 34213645
<PER-SHARE-NAV-BEGIN> 7.94
<PER-SHARE-NII> 0.80
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.44
<EXPENSE-RATIO> 0.87
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 57281998
<INVESTMENTS-AT-VALUE> 68753174
<RECEIVABLES> 900331
<ASSETS-OTHER> 2189
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 69655694
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 124959
<TOTAL-LIABILITIES> 124959
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 59050102
<SHARES-COMMON-STOCK> 4803704
<SHARES-COMMON-PRIOR> 4566334
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 627066
<ACCUMULATED-NET-GAINS> (1058634)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12166333
<NET-ASSETS> 69530735
<DIVIDEND-INCOME> 1185462
<INTEREST-INCOME> 218179
<OTHER-INCOME> (87976)
<EXPENSES-NET> 755743
<NET-INVESTMENT-INCOME> 559922
<REALIZED-GAINS-CURRENT> (220243)
<APPREC-INCREASE-CURRENT> 7975550
<NET-CHANGE-FROM-OPS> 8315229
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 559922
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 1014490
<NUMBER-OF-SHARES-SOLD> 980799
<NUMBER-OF-SHARES-REDEEMED> 852234
<SHARES-REINVESTED> 108805
<NET-CHANGE-IN-ASSETS> 10137929
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (450697)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 462151
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 755743
<AVERAGE-NET-ASSETS> 61620150
<PER-SHARE-NAV-BEGIN> 13.01
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> 1.67
<PER-SHARE-DIVIDEND> 0.12
<PER-SHARE-DISTRIBUTIONS> 0.22
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.47
<EXPENSE-RATIO> 1.23
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> MONEY MARKET FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 24737514
<INVESTMENTS-AT-VALUE> 24737514
<RECEIVABLES> 127524
<ASSETS-OTHER> 623
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 24865661
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 140068
<TOTAL-LIABILITIES> 140068
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24727125
<SHARES-COMMON-STOCK> 24727125
<SHARES-COMMON-PRIOR> 16532208
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1532)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 24725593
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1175887
<OTHER-INCOME> 0
<EXPENSES-NET> 133616
<NET-INVESTMENT-INCOME> 1042271
<REALIZED-GAINS-CURRENT> (416)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1041855
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1042271
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 24631336
<NUMBER-OF-SHARES-REDEEMED> 17439462
<SHARES-REINVESTED> 1003043
<NET-CHANGE-IN-ASSETS> 8194501
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 77564
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 143316
<AVERAGE-NET-ASSETS> 19393940
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> QUALITY BOND FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 36116653
<INVESTMENTS-AT-VALUE> 37370656
<RECEIVABLES> 716414
<ASSETS-OTHER> 1213
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38088283
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 39878
<TOTAL-LIABILITIES> 39878
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 37573040
<SHARES-COMMON-STOCK> 3715985
<SHARES-COMMON-PRIOR> 3465498
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (778638)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1254003
<NET-ASSETS> 38048405
<DIVIDEND-INCOME> 75255
<INTEREST-INCOME> 2319520
<OTHER-INCOME> 0
<EXPENSES-NET> 253372
<NET-INVESTMENT-INCOME> 2141403
<REALIZED-GAINS-CURRENT> 2350516
<APPREC-INCREASE-CURRENT> 1752675
<NET-CHANGE-FROM-OPS> 6244594
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2141403
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 28700
<NUMBER-OF-SHARES-SOLD> 503916
<NUMBER-OF-SHARES-REDEEMED> 465354
<SHARES-REINVESTED> 211924
<NET-CHANGE-IN-ASSETS> 6710775
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (3100454)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 155476
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 270647
<AVERAGE-NET-ASSETS> 34550196
<PER-SHARE-NAV-BEGIN> 9.04
<PER-SHARE-NII> 0.61
<PER-SHARE-GAIN-APPREC> 1.21
<PER-SHARE-DIVIDEND> 0.61
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.24
<EXPENSE-RATIO> 0.73
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 8
<NAME> SMALL CAPITALIZATION FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 4577116
<INVESTMENTS-AT-VALUE> 4743302
<RECEIVABLES> 109658
<ASSETS-OTHER> 130
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4853090
<PAYABLE-FOR-SECURITIES> 18685
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6498
<TOTAL-LIABILITIES> 25183
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4643099
<SHARES-COMMON-STOCK> 440375
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 18622
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 166186
<NET-ASSETS> 4827907
<DIVIDEND-INCOME> 24776
<INTEREST-INCOME> 36531
<OTHER-INCOME> 0
<EXPENSES-NET> 24151
<NET-INVESTMENT-INCOME> 37156
<REALIZED-GAINS-CURRENT> 116284
<APPREC-INCREASE-CURRENT> 166186
<NET-CHANGE-FROM-OPS> 319626
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 37156
<DISTRIBUTIONS-OF-GAINS> 97662
<DISTRIBUTIONS-OTHER> 433221
<NUMBER-OF-SHARES-SOLD> 5147
<NUMBER-OF-SHARES-REDEEMED> 12301
<SHARES-REINVESTED> 4827907
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 12149
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 31294
<AVERAGE-NET-ASSETS> 2898197
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> 1.19
<PER-SHARE-DIVIDEND> 0.09
<PER-SHARE-DISTRIBUTIONS> 0.23
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.96
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> VALUE EQUITY FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> DEC-31-1995
<INVESTMENTS-AT-COST> 99377140
<INVESTMENTS-AT-VALUE> 127257506
<RECEIVABLES> 132085
<ASSETS-OTHER> 3934
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 127393525
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 133675
<TOTAL-LIABILITIES> 133675
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 99379547
<SHARES-COMMON-STOCK> 7818065
<SHARES-COMMON-PRIOR> 6237075
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 63
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 27880366
<NET-ASSETS> 127259850
<DIVIDEND-INCOME> 1541415
<INTEREST-INCOME> 1087965
<OTHER-INCOME> 0
<EXPENSES-NET> 834531
<NET-INVESTMENT-INCOME> 1794849
<REALIZED-GAINS-CURRENT> 6520338
<APPREC-INCREASE-CURRENT> 23682719
<NET-CHANGE-FROM-OPS> 31997906
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1794912
<DISTRIBUTIONS-OF-GAINS> 6520338
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1658765
<NUMBER-OF-SHARES-REDEEMED> 588540
<SHARES-REINVESTED> 210765
<NET-CHANGE-IN-ASSETS> 48238976
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 523127
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 834531
<AVERAGE-NET-ASSETS> 104678634
<PER-SHARE-NAV-BEGIN> 12.67
<PER-SHARE-NII> 0.25
<PER-SHARE-GAIN-APPREC> 4.50
<PER-SHARE-DIVIDEND> 0.25
<PER-SHARE-DISTRIBUTIONS> 0.89
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.28
<EXPENSE-RATIO> 0.80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
