<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000705318
<NAME> ASSET MANAGEMENT FUND
<SERIES>
<NUMBER> 005
<NAME> ADJUSTABLE RATE MORTGAGE (ARM) PORTFOLIO
<S>
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Oct-31-2000
<PERIOD-START> Nov-01-1999
<PERIOD-END> Apr-30-2000
<INVESTMENTS-AT-COST> 744477884
<INVESTMENTS-AT-VALUE> 747195735
<RECEIVABLES> 21282285
<ASSETS-OTHER> 40642
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 768518662
<PAYABLE-FOR-SECURITIES> 30579531
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3885590
<TOTAL-LIABILITIES> 34465121
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 764274253
<SHARES-COMMON-STOCK> 74626225
<SHARES-COMMON-PRIOR> 89154326
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 32938563
<ACCUM-APPREC-OR-DEPREC> 2717851
<NET-ASSETS> 734053541
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 25717837
<OTHER-INCOME> 0
<EXPENSES-NET> 1887226
<NET-INVESTMENT-INCOME> 23830611
<REALIZED-GAINS-CURRENT> (1420451)
<APPREC-INCREASE-CURRENT> 491963
<NET-CHANGE-FROM-OPS> 22902123
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 23452166
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3892231
<NUMBER-OF-SHARES-REDEEMED> 19572009
<SHARES-REINVESTED> 1151677
<NET-CHANGE-IN-ASSETS> (143554521)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 31896557
<GROSS-ADVISORY-FEES> 1792726
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3082377
<AVERAGE-NET-ASSETS> 799569218
<PER-SHARE-NAV-BEGIN> 9.840
<PER-SHARE-NII> 0.294
<PER-SHARE-GAIN-APPREC> (0.005)
<PER-SHARE-DIVIDEND> 0.289
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.840
<EXPENSE-RATIO> 2.97
</TABLE>
