<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000705318
<NAME> ASSET MANAGEMENT FUND
<SERIES>
<NUMBER> 005
<NAME> ADJUSTABLE RATE MORTGAGE (ARM) PORTFOLIO
<S>
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Oct-31-2000
<PERIOD-START> Nov-01-1999
<PERIOD-END> Oct-31-2000
<INVESTMENTS-AT-COST> 673198786
<INVESTMENTS-AT-VALUE> 677740633
<RECEIVABLES> 8050659
<ASSETS-OTHER> 21656
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 685812948
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 4160906
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 710466255
<SHARES-COMMON-STOCK> 69166378
<SHARES-COMMON-PRIOR> 89154326
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 33356060
<ACCUM-APPREC-OR-DEPREC> 4541847
<NET-ASSETS> 681652042
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 49743616
<OTHER-INCOME> 0
<EXPENSES-NET> 3574600
<NET-INVESTMENT-INCOME> 46169016
<REALIZED-GAINS-CURRENT> (1812264)
<APPREC-INCREASE-CURRENT> 2315959
<NET-CHANGE-FROM-OPS> 46672711
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 46052996
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8088574
<NUMBER-OF-SHARES-REDEEMED> 30334028
<SHARES-REINVESTED> 2257506
<NET-CHANGE-IN-ASSETS> (195956020)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 31896557
<GROSS-ADVISORY-FEES> 3346260
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5805433
<AVERAGE-NET-ASSETS> 742686094
<PER-SHARE-NAV-BEGIN> 9.840
<PER-SHARE-NII> 0.605
<PER-SHARE-GAIN-APPREC> 0.023
<PER-SHARE-DIVIDEND> 0.613
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.860
<EXPENSE-RATIO> 0.48
</TABLE>
