WRIGHT MANAGED EQUITY TRUST
NSAR-B, 1999-02-17
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<PAGE>      PAGE  1
000 B000000 12/31/98
000 C000000 703499
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 WRIGHT MANAGED EQUITY TRUST
001 B000000 811-3489
001 C000000 6174828260
002 A000000 24 FEDERAL ST.
002 B000000 BOSTON
002 C000000 MA
002 D010000 02110
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 WRIGHT MAJOR BLUE CHIP EQUITIES FUND
007 C030100 N
007 C010200  2
007 C020200 WRIGHT SELECTED BLUE CHIP EQUITIES FUND
007 C030200 N
007 C010300  3
007 C020300 WRIGHT JUNIOR BLUE CHIP EQUITIES FUND
007 C030300 N
007 C010400  4
007 C020400 WRIGHT INTERNATIONAL BLUE CHIP EQUITIES FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 WRIGHT INVESTORS' SERVICE
008 B00AA01 A
008 C00AA01 801-02501
008 D01AA01 BRIDGEPORT
008 D02AA01 CT
008 D03AA01 06604
010 A00AA01 EATON VANCE MANAGEMENT
010 B00AA01 801-15930
010 C01AA01 BOSTON
010 C02AA01 MA
010 C03AA01 02110
<PAGE>      PAGE  2
011 A00AA01 WRIGHT INVESTORS' SERVICE DISTRIBUTORS, INC.
011 B00AA01 8-29579
011 C01AA01 BRIDGEPORT
011 C02AA01 CT
011 C03AA01 06604
012 A00AA01 FIRST DATA INVESTORS SERVICES GROUP, INC.
012 B00AA01 85-401761
012 C01AA01 WESTBOROUGH
012 C02AA01 MA
012 C03AA01 01581
012 C04AA01 5123
013 A00AA01 DELOITTE & TOUCHE L.L.P.
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
014 A00AA01 WRIGHT INVESTORS' SERVICE DISTRIBUTORS, INC.
014 B00AA01 8-29579
015 A00AA01 INVESTORS BANK & TRUST
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02116
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   22
019 C00AA00 WRIGHTFUND
020 A000001 EDWARDS (AG) & SONS INC
020 B000001 43-0895447
020 C000001     14
020 A000002 DEAN WITTER REYNOLDS INC
020 B000002 94-1671384
020 C000002     10
020 A000003 SHARPE
020 B000003 11-2811556
020 C000003      6
020 A000004 BEAR STEARNS & CO INC
020 B000004 13-3299429
020 C000004      5
020 A000005 JEFFERIES & COMPANY INC
020 B000005 95-2622900
020 C000005      3
020 A000006 SMITH BARNEY INC
020 B000006 13-1912900
020 C000006      3
020 A000007 FIRST ALBANY CORP
020 B000007 14-1391446
020 C000007      2
020 A000008 CANTOR FITZGERALD & CO INC
020 B000008 95-1786286
020 C000008      2
<PAGE>      PAGE  3
020 A000009 SCHWAB CHAS. & CO
020 B000009 94-1737782
020 C000009      2
020 A000010 JONES & ASSOCIATES INC
020 B000010 95-3583143
020 C000010      2
021  000000       57
022 A000001 AMERICAN EXPRESS CREDIT CORP
022 B000001 C/P
022 C000001    187880
022 D000001         0
022 A000002 WRIGHT INTERNATIONAL BLUE CHIP EQUITIES PORT.
022 B000002 04-3364072
022 C000002     34825
022 D000002     95100
022 A000003 WRIGHT SELECTED BLUE CHIP EQUITIES PORTFOLIO
022 B000003 04-3364070
022 C000003     15862
022 D000003     52632
022 A000004 GE CAPITAL CORP
022 C000004     41585
022 D000004         0
022 A000005 WRIGHT JUNIOR BLUE CHIP EQUITIES PORTFOLIO
022 B000005 04-3364071
022 C000005      3866
022 D000005      3850
022 A000006 JONES & ASSOCIATES
022 B000006 95-3583143
022 C000006       817
022 D000006      1139
022 A000007 EDWARDS (AG) & SONS INC
022 B000007 43-0895447
022 C000007      1360
022 D000007         0
022 A000008 GOLDMAN SACHS & CO
022 B000008 13-5108880
022 C000008       879
022 D000008         0
022 A000009 SMITH BARNEY INC
022 B000009 13-1912900
022 C000009       520
022 D000009         0
022 A000010 JEFFERIES & CO INC
022 B000010 95-2622900
022 C000010        61
022 D000010         0
023 C000000     287653
023 D000000     152721
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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080 A00AA00 FEDERAL INSURANCE CO
080 B00AA00 NATIONAL UNION FIRE INSURANCE CO
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
054 B000100 Y
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 Y
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 N
055 A000100 N
055 B000100 N
056  000100 Y
057  000100 N
058 A000100 N
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060 A000100 Y
060 B000100 Y
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066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
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070 H010100 Y
070 H020100 N
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<PAGE>      PAGE  8
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
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070 P020100 N
070 Q010100 N
070 Q020100 N
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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045  000200 N
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048 I020200 0.000
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055 A000200 N
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057  000200 N
058 A000200 N
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<PAGE>      PAGE  11
061  000200     1000
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
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070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
074 R030200        0
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<PAGE>      PAGE  14
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070 I020300 N
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<PAGE>      PAGE  15
070 L010300 N
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<PAGE>      PAGE  16
073 A010300   0.0000
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
069  000400 N
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070 H020400 N
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070 I020400 N
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<PAGE>      PAGE  19
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072 S000400        4
072 T000400      541
072 U000400        0
072 V000400        0
072 W000400        4
072 X000400      774
072 Y000400        0
072 Z000400     1211
072AA000400    20727
072BB000400        0
072CC010400        0
072CC020400    11296
072DD010400      827
072DD020400      284
072EE000400    12316
073 A010400   0.0700
073 A020400   0.1500
073 B000400   0.8760
073 C000400   0.0000
074 A000400        0
074 B000400        0
074 C000400        0
074 D000400        0
074 E000400        0
074 F000400        0
074 G000400        0
074 H000400        0
074 I000400   212231
074 J000400        0
074 K000400        0
074 L000400       63
074 M000400        0
074 N000400   212294
074 O000400        0
074 P000400        0
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400      457
074 S000400        0
074 T000400   211837
074 U010400    12065
<PAGE>      PAGE  20
074 U020400    18511
074 V010400    16.02
074 V020400     8.75
074 W000400   0.0000
074 X000400     1259
074 Y000400        0
075 A000400        0
075 B000400   257474
076  000400     0.00
SIGNATURE   WILLIAM J. AUSTIN, JR.                       
TITLE       ASST. TREASURER     
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 001
   <NAME> WRIGHT MAJOR BLUE CHIP EQUITIES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                       40,072,657
<INVESTMENTS-AT-VALUE>                      52,008,822
<RECEIVABLES>                                  272,408
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                             2,161
<TOTAL-ASSETS>                              52,283,391
<PAYABLE-FOR-SECURITIES>                     1,315,522
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       84,743
<TOTAL-LIABILITIES>                          1,404,925
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    39,172,057
<SHARES-COMMON-STOCK>                        3,722,975
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                    (212,485)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (17,271)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    11,936,165
<NET-ASSETS>                                50,878,466
<DIVIDEND-INCOME>                              440,609
<INTEREST-INCOME>                               57,243
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 338,422
<NET-INVESTMENT-INCOME>                        159,430
<REALIZED-GAINS-CURRENT>                     2,790,260
<APPREC-INCREASE-CURRENT>                    5,697,987
<NET-CHANGE-FROM-OPS>                        8,647,677
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      147,022
<DISTRIBUTIONS-OF-GAINS>                     2,286,379
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,247,567
<NUMBER-OF-SHARES-REDEEMED>                  1,017,149
<SHARES-REINVESTED>                            186,701
<NET-CHANGE-IN-ASSETS>                      23,157,720
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          145,057
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                412,693
<AVERAGE-NET-ASSETS>                        32,281,685
<PER-SHARE-NAV-BEGIN>                            12.02
<PER-SHARE-NII>                                  0.091
<PER-SHARE-GAIN-APPREC>                          2.324
<PER-SHARE-DIVIDEND>                           (0.055)
<PER-SHARE-DISTRIBUTIONS>                      (0.710)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.67
<EXPENSE-RATIO>                                   1.07
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 002
   <NAME> WRIGHT SELECTED BLUE CHIP EQUITIES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                      166,043,284
<INVESTMENTS-AT-VALUE>                     221,656,676
<RECEIVABLES>                                  162,774
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             221,819,452
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      854,885
<TOTAL-LIABILITIES>                            854,885
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   164,794,078
<SHARES-COMMON-STOCK>                       12,530,224
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                      924,380
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (367,285)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    55,613,394
<NET-ASSETS>                               220,964,567
<DIVIDEND-INCOME>                            3,749,260
<INTEREST-INCOME>                              215,554
<OTHER-INCOME>                             (1,953,126)
<EXPENSES-NET>                                 844,524
<NET-INVESTMENT-INCOME>                      1,167,164
<REALIZED-GAINS-CURRENT>                    15,538,125
<APPREC-INCREASE-CURRENT>                 (20,336,710)
<NET-CHANGE-FROM-OPS>                      (3,631,421)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    1,166,058
<DISTRIBUTIONS-OF-GAINS>                    17,259,979
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,109,096
<NUMBER-OF-SHARES-REDEEMED>                  3,967,641
<SHARES-REINVESTED>                            877,643
<NET-CHANGE-IN-ASSETS>                    (38,446,301)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                844,524
<AVERAGE-NET-ASSETS>                       252,249,233
<PER-SHARE-NAV-BEGIN>                            19.20
<PER-SHARE-NII>                                  0.095
<PER-SHARE-GAIN-APPREC>                        (0.139)
<PER-SHARE-DIVIDEND>                           (0.090)
<PER-SHARE-DISTRIBUTIONS>                      (1.436)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              17.63
<EXPENSE-RATIO>                                   1.11
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 003
   <NAME> WRIGHT JUNIOR BLUE CHIP EQUITIES FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                       32,872,866
<INVESTMENTS-AT-VALUE>                      34,303,476
<RECEIVABLES>                                  456,610
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              34,760,086
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      243,427
<TOTAL-LIABILITIES>                            243,427
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    33,455,919
<SHARES-COMMON-STOCK>                        3,479,162
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                    (369,870)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,430,610
<NET-ASSETS>                                34,516,659
<DIVIDEND-INCOME>                               33,792
<INTEREST-INCOME>                              382,152
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  92,383
<NET-INVESTMENT-INCOME>                         17,764
<REALIZED-GAINS-CURRENT>                       154,875
<APPREC-INCREASE-CURRENT>                  (2,056,707)
<NET-CHANGE-FROM-OPS>                      (1,884,068)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                       157,251
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,024,797
<NUMBER-OF-SHARES-REDEEMED>                    753,849
<SHARES-REINVESTED>                             12,811
<NET-CHANGE-IN-ASSETS>                       1,026,924
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                178,906
<AVERAGE-NET-ASSETS>                        34,612,239
<PER-SHARE-NAV-BEGIN>                            10.48
<PER-SHARE-NII>                                  0.015
<PER-SHARE-GAIN-APPREC>                        (0.530)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                      (0.045)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.92
<EXPENSE-RATIO>                                   1.17
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 004
   <NAME> WRIGHT INTERNATIONAL BLUE CHIP EQUITIES FUND - STANDARD SHS.
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                      170,439,308
<INVESTMENTS-AT-VALUE>                     212,230,531
<RECEIVABLES>                                   63,423
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             212,293,954
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      456,619
<TOTAL-LIABILITIES>                            456,619
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   168,374,534
<SHARES-COMMON-STOCK>                       12,065,386
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                    (702,820)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      2,433,435
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    41,732,186
<NET-ASSETS>                               193,326,527
<DIVIDEND-INCOME>                            4,533,826
<INTEREST-INCOME>                              554,817
<OTHER-INCOME>                             (3,103,092)
<EXPENSES-NET>                                 774,254
<NET-INVESTMENT-INCOME>                      1,211,297
<REALIZED-GAINS-CURRENT>                    20,726,523
<APPREC-INCREASE-CURRENT>                 (11,296,007)
<NET-CHANGE-FROM-OPS>                       10,641,813
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      827,510
<DISTRIBUTIONS-OF-GAINS>                    10,461,145
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      6,595,651
<NUMBER-OF-SHARES-REDEEMED>                  8,370,704
<SHARES-REINVESTED>                            566,574
<NET-CHANGE-IN-ASSETS>                    (18,251,870)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                774,254
<AVERAGE-NET-ASSETS>                       216,346,631
<PER-SHARE-NAV-BEGIN>                            16.02
<PER-SHARE-NII>                                  0.078
<PER-SHARE-GAIN-APPREC>                          0.868
<PER-SHARE-DIVIDEND>                           (0.070)
<PER-SHARE-DISTRIBUTIONS>                      (0.876)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.02
<EXPENSE-RATIO>                                   1.35
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 004
   <NAME> WRIGHT INTL. BLUE CHIP EQUITIES FUND - INSTITUTIONAL SHARES
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                      170,439,308
<INVESTMENTS-AT-VALUE>                     212,230,531
<RECEIVABLES>                                   63,423
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             212,293,954
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      456,619
<TOTAL-LIABILITIES>                            456,619
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   168,374,534
<SHARES-COMMON-STOCK>                        2,114,771
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                    (702,820)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      2,433,435
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    41,732,186
<NET-ASSETS>                                18,510,808
<DIVIDEND-INCOME>                            4,533,826
<INTEREST-INCOME>                              554,817
<OTHER-INCOME>                             (3,103,092)
<EXPENSES-NET>                                 774,254
<NET-INVESTMENT-INCOME>                      1,211,297
<REALIZED-GAINS-CURRENT>                    20,726,523
<APPREC-INCREASE-CURRENT>                   11,296,007
<NET-CHANGE-FROM-OPS>                       10,641,813
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      284,480
<DISTRIBUTIONS-OF-GAINS>                     1,854,640
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                  3,070,822
<SHARES-REINVESTED>                            249,025
<NET-CHANGE-IN-ASSETS>                    (24,916,881)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                744,254
<AVERAGE-NET-ASSETS>                        41,127,385
<PER-SHARE-NAV-BEGIN>                             9.13
<PER-SHARE-NII>                                  0.159
<PER-SHARE-GAIN-APPREC>                          0.487
<PER-SHARE-DIVIDEND>                           (0.150)
<PER-SHARE-DISTRIBUTIONS>                      (0.876)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               8.75
<EXPENSE-RATIO>                                   1.12
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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