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<PAGE> PAGE 10
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<PAGE> PAGE 12
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<PAGE> PAGE 22
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<PAGE> PAGE 24
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
SIGNATURE ANN STROOTMAN
TITLE CONTROLLER
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 9
<NAME> EMERGING GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 23,282,166
<INVESTMENTS-AT-VALUE> 27,725,440
<RECEIVABLES> 212,340
<ASSETS-OTHER> 134
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,937,914
<PAYABLE-FOR-SECURITIES> 467,437
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 56,276
<TOTAL-LIABILITIES> 523,713
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22,021,193
<SHARES-COMMON-STOCK> 1,683,329
<SHARES-COMMON-PRIOR> 1,395,974
<ACCUMULATED-NII-CURRENT> (157,500)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,107,234
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,443,274
<NET-ASSETS> 27,414,201
<DIVIDEND-INCOME> 8,981
<INTEREST-INCOME> 24,372
<OTHER-INCOME> 0
<EXPENSES-NET> 135,270
<NET-INVESTMENT-INCOME> (102,316)
<REALIZED-GAINS-CURRENT> 1,158,055
<APPREC-INCREASE-CURRENT> 3,938,450
<NET-CHANGE-FROM-OPS> 4,994,189
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 8,966
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 601,342
<NUMBER-OF-SHARES-REDEEMED> 314,625
<SHARES-REINVESTED> 638
<NET-CHANGE-IN-ASSETS> 4,486,088
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 93,862
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 139,542
<AVERAGE-NET-ASSETS> 23,720,332
<PER-SHARE-NAV-BEGIN> 12.85
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 3.50
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.29
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> FLEXIBLY MANAGED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 493,320,296
<INVESTMENTS-AT-VALUE> 562,335,389
<RECEIVABLES> 3,976,154
<ASSETS-OTHER> 5,758
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 566,317,301
<PAYABLE-FOR-SECURITIES> 2,810,836
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 665,792
<TOTAL-LIABILITIES> 3,476,628
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 456,739,965
<SHARES-COMMON-STOCK> 26,810,807
<SHARES-COMMON-PRIOR> 26,029,570
<ACCUMULATED-NII-CURRENT> 7,324,757
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 29,759,141
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 69,016,810
<NET-ASSETS> 562,840,673
<DIVIDEND-INCOME> 3,393,494
<INTEREST-INCOME> 6,161,542
<OTHER-INCOME> (85,226)
<EXPENSES-NET> 2,039,380
<NET-INVESTMENT-INCOME> 7,430,430
<REALIZED-GAINS-CURRENT> 29,799,241
<APPREC-INCREASE-CURRENT> (6,347,160)
<NET-CHANGE-FROM-OPS> 30,886,372
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 123,319
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,806,516
<NUMBER-OF-SHARES-REDEEMED> 1,031,363
<SHARES-REINVESTED> 6,084
<NET-CHANGE-IN-ASSETS> 46,701,949
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,355,032
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,039,380
<AVERAGE-NET-ASSETS> 546,504,634
<PER-SHARE-NAV-BEGIN> 19.83
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> 0.88
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.99
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> GROWTH EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 107,274,545
<INVESTMENTS-AT-VALUE> 163,559,204
<RECEIVABLES> 422,399
<ASSETS-OTHER> 1,081
<OTHER-ITEMS-ASSETS> 627,122
<TOTAL-ASSETS> 164,609,806
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,647,053
<TOTAL-LIABILITIES> 1,647,053
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100,307,652
<SHARES-COMMON-STOCK> 5,509,088
<SHARES-COMMON-PRIOR> 5,583,243
<ACCUMULATED-NII-CURRENT> 122,693
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,247,749
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 56,284,659
<NET-ASSETS> 162,962,753
<DIVIDEND-INCOME> 542,763
<INTEREST-INCOME> 135,313
<OTHER-INCOME> 0
<EXPENSES-NET> 555,383
<NET-INVESTMENT-INCOME> 122,693
<REALIZED-GAINS-CURRENT> 6,492,700
<APPREC-INCREASE-CURRENT> 22,545,823
<NET-CHANGE-FROM-OPS> 29,161,215
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 208,968
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 255,489
<NUMBER-OF-SHARES-REDEEMED> 337,781
<SHARES-REINVESTED> 8,137
<NET-CHANGE-IN-ASSETS> 26,904,507
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 355,884
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 555,383
<AVERAGE-NET-ASSETS> 148,370,133
<PER-SHARE-NAV-BEGIN> 24.37
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 5.19
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 29.58
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> HIGH YIELD BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 64,270,193
<INVESTMENTS-AT-VALUE> 66,277,719
<RECEIVABLES> 1,228,851
<ASSETS-OTHER> 395
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 67,506,965
<PAYABLE-FOR-SECURITIES> 149,996
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 71,442
<TOTAL-LIABILITIES> 221,438
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 61,632,372
<SHARES-COMMON-STOCK> 6,697,302
<SHARES-COMMON-PRIOR> 6,214,249
<ACCUMULATED-NII-CURRENT> 2,545,977
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,099,652
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,007,526
<NET-ASSETS> 67,285,527
<DIVIDEND-INCOME> 171,161
<INTEREST-INCOME> 2,626,625
<OTHER-INCOME> 0
<EXPENSES-NET> 251,809
<NET-INVESTMENT-INCOME> 2,545,977
<REALIZED-GAINS-CURRENT> 1,103,070
<APPREC-INCREASE-CURRENT> (275,721)
<NET-CHANGE-FROM-OPS> 3,369,908
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 767,375
<NUMBER-OF-SHARES-REDEEMED> 284,322
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 8,147,863
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 157,843
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 251,809
<AVERAGE-NET-ASSETS> 63,660,464
<PER-SHARE-NAV-BEGIN> 9.52
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> 0.15
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.05
<EXPENSE-RATIO> 0.80
<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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 112,992,806
<INVESTMENTS-AT-VALUE> 149,634,932
<RECEIVABLES> 1,740,712
<ASSETS-OTHER> (323)
<OTHER-ITEMS-ASSETS> 1,625,106
<TOTAL-ASSETS> 153,000,427
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 570,138
<TOTAL-LIABILITIES> 570,138
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 110,109,528
<SHARES-COMMON-STOCK> 8,026,498
<SHARES-COMMON-PRIOR> 8,038,534
<ACCUMULATED-NII-CURRENT> (223,912)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,277,440
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 38,267,233
<NET-ASSETS> 152,430,289
<DIVIDEND-INCOME> 1,399,455
<INTEREST-INCOME> 208,784
<OTHER-INCOME> (107,053)
<EXPENSES-NET> 763,638
<NET-INVESTMENT-INCOME> 737,548
<REALIZED-GAINS-CURRENT> 4,277,440
<APPREC-INCREASE-CURRENT> 17,945,090
<NET-CHANGE-FROM-OPS> 22,960,078
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 917,926
<NUMBER-OF-SHARES-REDEEMED> 929,962
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 22,792,733
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 529,758
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 763,638
<AVERAGE-NET-ASSETS> 142,439,613
<PER-SHARE-NAV-BEGIN> 16.13
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> 2.77
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.99
<EXPENSE-RATIO> 1.08
<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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 40,882,406
<INVESTMENTS-AT-VALUE> 40,957,784
<RECEIVABLES> 190,452
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 41,148,236
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 202,584
<TOTAL-LIABILITIES> 202,584
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 40,947,399
<SHARES-COMMON-STOCK> 40,947,399
<SHARES-COMMON-PRIOR> 38,638,055
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,747)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 40,945,652
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,096,389
<OTHER-INCOME> 0
<EXPENSES-NET> 137,735
<NET-INVESTMENT-INCOME> 958,664
<REALIZED-GAINS-CURRENT> 10
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 958,664
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 958,654
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29,761,279
<NUMBER-OF-SHARES-REDEEMED> 27,260,786
<SHARES-REINVESTED> 968,765
<NET-CHANGE-IN-ASSETS> 3,469,268
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 78,806
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 137,735
<AVERAGE-NET-ASSETS> 38,721,469
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.72
<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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 43,771,637
<INVESTMENTS-AT-VALUE> 44,443,495
<RECEIVABLES> 456,436
<ASSETS-OTHER> 301
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 44,900,232
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 78,612
<TOTAL-LIABILITIES> 78,612
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 42,584,548
<SHARES-COMMON-STOCK> 4,202,937
<SHARES-COMMON-PRIOR> 3,929,034
<ACCUMULATED-NII-CURRENT> 1,146,004
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 420,328
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 670,740
<NET-ASSETS> 44,821,620
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,305,081
<OTHER-INCOME> 0
<EXPENSES-NET> 159,077
<NET-INVESTMENT-INCOME> 1,146,004
<REALIZED-GAINS-CURRENT> 420,328
<APPREC-INCREASE-CURRENT> 318,408
<NET-CHANGE-FROM-OPS> 1,884,740
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 604,958
<NUMBER-OF-SHARES-REDEEMED> 331,055
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 4,744,592
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 94,439
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 159,077
<AVERAGE-NET-ASSETS> 42,320,574
<PER-SHARE-NAV-BEGIN> 10.20
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 0.19
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.66
<EXPENSE-RATIO> 0.76
<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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 44,150,955
<INVESTMENTS-AT-VALUE> 45,236,875
<RECEIVABLES> 1,503,565
<ASSETS-OTHER> 295
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 46,740,735
<PAYABLE-FOR-SECURITIES> 1,527,304
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43,637
<TOTAL-LIABILITIES> 1,570,941
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 41,561,783
<SHARES-COMMON-STOCK> 3,148,719
<SHARES-COMMON-PRIOR> 2,683,387
<ACCUMULATED-NII-CURRENT> 122,303
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,427,884
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,057,824
<NET-ASSETS> 45,169,794
<DIVIDEND-INCOME> 126,457
<INTEREST-INCOME> 169,113
<OTHER-INCOME> 0
<EXPENSES-NET> 173,267
<NET-INVESTMENT-INCOME> 122,303
<REALIZED-GAINS-CURRENT> 2,445,089
<APPREC-INCREASE-CURRENT> (3,113,705)
<NET-CHANGE-FROM-OPS> (546,313)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 8,222
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 582,155
<NUMBER-OF-SHARES-REDEEMED> 117,378
<SHARES-REINVESTED> 555
<NET-CHANGE-IN-ASSETS> 6,443,700
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 107,865
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 173,267
<AVERAGE-NET-ASSETS> 43,503,512
<PER-SHARE-NAV-BEGIN> 14.43
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (0.13)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.34
<EXPENSE-RATIO> 0.80
<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> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 248,144,554
<INVESTMENTS-AT-VALUE> 353,787,226
<RECEIVABLES> 720,224
<ASSETS-OTHER> 2,376
<OTHER-ITEMS-ASSETS> 0
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</TABLE>
