BARTLETT CAPITAL TRUST
NSAR-B, 1996-05-30
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<PAGE>      PAGE  1
000 B000000 03/31/96
000 C000000 0000710434
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 BARTLETT CAPITAL TRUST
001 B000000 811-3613
001 C000000 5136214612
002 A000000 36 EAST FOURTH STREET
002 B000000 CINCINNATI
002 C000000 OH
002 D010000 45202
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  4
007 C010100  1
007 C020100 BASIC VALUE FUND
007 C030100 N
007 C010200  2
007 C020200 FIXED INCOME FUND
007 C030200 N
007 C010300  3
007 C020300 BARTLETT VALUE INTERNATIONAL
007 C030300 N
007 C010400  4
007 C020400 SHORT TERM BOND FUND
007 C030400 N
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 BARTLETT & CO
008 B00AA01 A
008 C00AA01 801-21
008 D01AA01 CINCINNATI
008 D02AA01 OH
008 D03AA01 45202
010 A00AA01 LEGG MASON FUND ADVISER, INC
010 B00AA01 801-16958
010 C01AA01 BALTIMORE
010 C02AA01 MD
010 C03AA01 21202
<PAGE>      PAGE  2
011 A00AA01 LEGG MASON WOOD WALKER, INCORPORATED
011 B00AA01 8-01-6767
011 C01AA01 BALTIMORE
011 C02AA01 MD
011 C03AA01 21202
012 A00AA01 BOSTON FINANCIAL DATA SERVICES
012 B00AA01 84-00896
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02105
013 A00AA01 ARTHUR ANDERSEN LLP
013 B01AA01 CINCINNATI
013 B02AA01 OH
013 B03AA01 45202
014 A00AA01 LEGG MASON WOOD WALKER, INCORPORATED
014 B00AA01 8-01-6767
014 A00AA02 DELETE
015 A00AA01 STATE STREET BANK AND TRUST COMPANY N.A.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    5
019 C00AA00 BARTLETTCO
020 A000001 BARING SECURITIES INC.
020 B000001 04-2455153
020 C000001  33040
020 A000002 ALFRED BERG INC
020 C000002  27012
020 A000003 UBS SECURITIES
020 B000003 13-2932996
020 C000003  24118
020 A000004 DONALDSON, LUFKIN & JENRETTE SEC CORP
020 B000004 13-2741729
020 C000004  23230
020 A000005 PRUDENTIAL SECURITIES INCORPORATED
020 B000005 22-2347336
020 C000005  21309
020 A000006 MORGAN GRENFELL
020 C000006  20497
020 A000007 MERRILL LYNCH
020 B000007 13-5674085
020 C000007  20457
020 A000008 SMITH NEW COURT, CARL MARKS INC
020 B000008 13-3169769
020 C000008  15034
020 A000009 SMITH BARNEY INC
020 B000009 13-1912900
<PAGE>      PAGE  3
020 C000009  13504
020 A000010 S.G. WARBURG & CO., INC.
020 B000010 13-3340045
020 C000010  11729
021  000000   300025
022 A000001 STATE STREET BANK AND TRUST COMPANY
022 B000001 04-1867454
022 C000001    269415
022 D000001         0
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH
022 B000002 13-5674085
022 C000002    175329
022 D000002     12246
022 A000003 SEARS ROEBUCK ACCEPTANCE CORP.
022 C000003    130084
022 D000003         0
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-3082694
022 C000004    105988
022 D000004     12369
022 A000005 FORD MOTOR CREDIT CO.
022 C000005     81453
022 D000005      2998
022 A000006 AUTRANET INC
022 C000006     45676
022 D000006     19217
022 A000007 BANK OF CALIFORNIA
022 B000007 94-0304228
022 C000007     61200
022 D000007      2000
022 A000008 PROVIDENT BANK
022 C000008     52548
022 D000008         0
022 A000009 CHEVRON OIL FINANCE CORP.
022 C000009     43947
022 D000009         0
022 A000010 GENERAL ELECTRIC CAPITAL CORP.
022 C000010     41199
022 D000010       999
023 C000000    1400839
023 D000000     166999
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
<PAGE>      PAGE  4
029  00AA00 N
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030 C00AA00  0.00
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033  00AA00      0
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035  00AA00      0
036 B00AA00      0
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 N
041  00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 Y
054 E00AA00 Y
054 F00AA00 Y
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 Y
054 J00AA00 Y
054 K00AA00 Y
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 Y
055 A00AA00 N
055 B00AA00 N
056  00AA00 Y
057  00AA00 N
058 A00AA00 N
059  00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061  00AA00     5000
077 A000000 Y
077 B000000 Y
080 A00AA00 FEDERAL INSURANCE COMPANY (CHUBB GROUP)
080 C00AA00     5000
081 A00AA00 Y
081 B00AA00   1
082 A00AA00 Y
082 B00AA00       30
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
<PAGE>      PAGE  5
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
024  000100 Y
025 A000101 ITT FINANCIAL SECURITIES, INC
025 B000101 43-1154164
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025 A000102 SALOMON, INC
025 B000102 13-3082594
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<PAGE>      PAGE  6
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066 A000100 Y
<PAGE>      PAGE  7
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 Y
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
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100     26732
071 B000100     25560
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<PAGE>      PAGE  8
072 B000100      861
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072 Y000100        0
072 Z000100     2085
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072EE000100     5715
073 A010100   0.2400
073 A020100   0.0000
073 B000100   0.8300
073 C000100   0.0000
074 A000100        1
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074 C000100     7996
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074 F000100   114752
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074 L000100     1920
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074 N000100   125787
074 O000100        0
<PAGE>      PAGE  9
074 P000100      123
074 Q000100        0
074 R010100        0
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074 R030100        0
074 R040100       28
074 S000100        0
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074 V020100     0.00
074 W000100   0.0000
074 X000100     2577
074 Y000100        0
075 A000100        0
075 B000100   116488
076  000100     0.00
024  000200 N
025 A000201 DELETE
025 D000201       0
025 A000202 DELETE
025 D000202       0
025 A000203 DELETE
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025 D000204       0
025 D000205       0
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025 D000208       0
028 A010200      1294
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028 E040200      3627
028 F010200       638
<PAGE>      PAGE  10
028 F020200       304
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028 F040200      2374
028 G010200      7238
028 G020200      1933
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028 G040200     21155
028 H000200         0
045  000200 Y
046  000200 N
047  000200 Y
048  000200  0.000
048 A010200    10000
048 A020200 2.000
048 B010200    20000
048 B020200 1.500
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048 I010200        0
048 I020200 0.000
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048 J020200 0.000
048 K010200    30000
048 K020200 1.000
049  000200 N
050  000200 N
051  000200 N
052  000200 N
053 A000200 N
062 A000200 Y
062 B000200   0.0
062 C000200   0.0
062 D000200   0.2
062 E000200   0.0
062 F000200   0.0
062 G000200   0.0
062 H000200   0.0
062 I000200   0.0
062 J000200   0.0
062 K000200   0.0
062 L000200   0.0
<PAGE>      PAGE  11
062 M000200  44.3
062 N000200  41.7
062 O000200   0.0
062 P000200  10.5
062 Q000200   0.0
062 R000200   0.0
063 A000200   0
063 B000200  4.3
064 A000200 N
064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
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 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
<PAGE>      PAGE  12
071 A000200    114526
071 B000200    126652
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072 X000200      900
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072 Z000200     5133
072AA000200     1978
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073 A010200   0.5700
073 A020200   0.0000
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073 C000200   0.0000
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074 C000200        0
074 D000200    76602
074 E000200        0
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074 J000200     3114
<PAGE>      PAGE  13
074 K000200        0
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074 W000200   0.0000
074 X000200     1351
074 Y000200        0
075 A000200        0
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024  000300 N
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<PAGE>      PAGE  14
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048 K010300   200000
048 K020300 1.250
049  000300 N
050  000300 N
051  000300 N
052  000300 N
053 A000300 N
<PAGE>      PAGE  15
062 A000300 N
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066 E000300 N
066 F000300 N
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<PAGE>      PAGE  16
070 K010300 Y
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070 Q020300 N
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070 R020300 N
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<PAGE>      PAGE  17
072DD020300        0
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<PAGE>      PAGE  18
028 A010400      4449
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<PAGE>      PAGE  19
048 J010400        0
048 J020400 0.000
048 K010400        0
048 K020400 0.000
049  000400 N
050  000400 N
051  000400 N
052  000400 N
053 A000400 N
062 A000400 Y
062 B000400   0.0
062 C000400   0.0
062 D000400   3.8
062 E000400   0.0
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   0.0
062 J000400   0.0
062 K000400   0.0
062 L000400   0.0
062 M000400  33.6
062 N000400  45.4
062 O000400   0.0
062 P000400  16.5
062 Q000400   0.0
062 R000400   0.0
063 A000400   0
063 B000400  2.6
064 A000400 N
064 B000400 N
066 A000400 N
067  000400 N
068 A000400 N
068 B000400 N
069  000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 Y
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
<PAGE>      PAGE  20
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400     29767
071 B000400     32632
071 C000400     20481
071 D000400  145
072 A000400 12
072 B000400     1465
072 C000400        0
072 D000400        0
072 E000400        0
072 F000400      198
072 G000400        0
072 H000400        0
072 I000400        0
072 J000400        0
072 K000400        0
072 L000400        0
072 M000400        0
072 N000400        0
072 O000400        0
072 P000400        0
072 Q000400        0
072 R000400        0
072 S000400        0
072 T000400        0
072 U000400        0
072 V000400        0
072 W000400        0
072 X000400      198
072 Y000400        0
072 Z000400     1267
<PAGE>      PAGE  21
072AA000400      146
072BB000400        0
072CC010400      206
072CC020400        0
072DD010400     1267
072DD020400        0
072EE000400        0
073 A010400   0.5400
073 A020400   0.0000
073 B000400   0.0000
073 C000400   0.0000
074 A000400        1
074 B000400      588
074 C000400        0
074 D000400    14605
074 E000400        0
074 F000400        0
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400      158
074 K000400        0
074 L000400      142
074 M000400        0
074 N000400    15494
074 O000400      149
074 P000400       12
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400       47
074 S000400        0
074 T000400    15286
074 U010400     1565
074 U020400        0
074 V010400     9.77
074 V020400     0.00
074 W000400   0.0000
074 X000400      233
074 Y000400        0
075 A000400        0
075 B000400    22219
076  000400     0.00
SIGNATURE   MARIE K. KARPINSKI                           
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000710434
<NAME> BARTLETT CAPITAL TRUST
<SERIES>
   <NUMBER> 1
   <NAME> BARTLETT BASIC VALUE FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1996
<PERIOD-START>                             APR-01-1995
<PERIOD-END>                               MAR-31-1996
<INVESTMENTS-AT-COST>                       90,711,135
<INVESTMENTS-AT-VALUE>                     123,865,689
<RECEIVABLES>                                  210,933
<ASSETS-OTHER>                                     821
<OTHER-ITEMS-ASSETS>                         1,709,765
<TOTAL-ASSETS>                             125,787,208
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      150,823
<TOTAL-LIABILITIES>                            150,823
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    88,302,489
<SHARES-COMMON-STOCK>                        7,003,457
<SHARES-COMMON-PRIOR>                        6,673,071
<ACCUMULATED-NII-CURRENT>                      489,399
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      3,689,948
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    33,154,549
<NET-ASSETS>                               125,636,385
<DIVIDEND-INCOME>                            2,589,704
<INTEREST-INCOME>                              861,425
<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                      2,085,006
<REALIZED-GAINS-CURRENT>                     7,904,641
<APPREC-INCREASE-CURRENT>                   14,980,193
<NET-CHANGE-FROM-OPS>                       24,969,840
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    1,617,770
<DISTRIBUTIONS-OF-GAINS>                     5,714,691
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      6,663,901
<NUMBER-OF-SHARES-REDEEMED>                  6,758,445
<SHARES-REINVESTED>                            424,930
<NET-CHANGE-IN-ASSETS>                      22,915,467
<ACCUMULATED-NII-PRIOR>                         22,163
<ACCUMULATED-GAINS-PRIOR>                    1,499,998
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,366,123
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,366,123
<AVERAGE-NET-ASSETS>                       116,488,000
<PER-SHARE-NAV-BEGIN>                            15.39
<PER-SHARE-NII>                                    .30
<PER-SHARE-GAIN-APPREC>                           3.32
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<EXPENSE-RATIO>                                   1.17
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000710434
<NAME> BARTLETT CAPITAL TRUST
<SERIES>
   <NUMBER> 4
   <NAME> BARTLETT SHORT TERM BOND FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1996
<PERIOD-START>                             APR-01-1995
<PERIOD-END>                               MAR-31-1996
<INVESTMENTS-AT-COST>                       15,222,657
<INVESTMENTS-AT-VALUE>                      15,193,376
<RECEIVABLES>                                  299,890
<ASSETS-OTHER>                                     753
<OTHER-ITEMS-ASSETS>                                14
<TOTAL-ASSETS>                              15,494,033
<PAYABLE-FOR-SECURITIES>                       148,864
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       58,867
<TOTAL-LIABILITIES>                            207,731
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    15,680,009
<SHARES-COMMON-STOCK>                        1,565,124
<SHARES-COMMON-PRIOR>                        2,043,270
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (364,426)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (29,281)
<NET-ASSETS>                                15,286,302
<DIVIDEND-INCOME>                                    0
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<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                      1,266,884
<REALIZED-GAINS-CURRENT>                       145,949
<APPREC-INCREASE-CURRENT>                      205,670
<NET-CHANGE-FROM-OPS>                        1,618,503
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    1,266,884
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
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<NUMBER-OF-SHARES-REDEEMED>                  3,327,470
<SHARES-REINVESTED>                             90,267
<NET-CHANGE-IN-ASSETS>                     (4,461,799)
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<ACCUMULATED-GAINS-PRIOR>                    (510,375)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          197,641
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                197,641
<AVERAGE-NET-ASSETS>                         2,541,000
<PER-SHARE-NAV-BEGIN>                             9.66
<PER-SHARE-NII>                                    .54
<PER-SHARE-GAIN-APPREC>                            .11
<PER-SHARE-DIVIDEND>                               .54
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<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                    .85
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<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000710434
<NAME> BARTLETT CAPITAL TRUST
<SERIES>
   <NUMBER> 2
   <NAME> BARTLETT FIXED INCOME FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1996
<PERIOD-START>                             APR-01-1995
<PERIOD-END>                               MAR-31-1996
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<INVESTMENTS-AT-VALUE>                      76,732,041
<RECEIVABLES>                                4,015,280
<ASSETS-OTHER>                                     607
<OTHER-ITEMS-ASSETS>                             4,658
<TOTAL-ASSETS>                              80,752,586
<PAYABLE-FOR-SECURITIES>                     1,091,668
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      283,587
<TOTAL-LIABILITIES>                          1,375,255
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    81,785,857
<SHARES-COMMON-STOCK>                        8,014,911
<SHARES-COMMON-PRIOR>                        9,418,434
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (2,070,146)
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                79,377,331
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            6,032,746
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 900,170
<NET-INVESTMENT-INCOME>                      5,132,576
<REALIZED-GAINS-CURRENT>                     1,977,601
<APPREC-INCREASE-CURRENT>                      205,780
<NET-CHANGE-FROM-OPS>                        7,315,957
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    5,132,576
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,078,188
<NUMBER-OF-SHARES-REDEEMED>                  3,903,266
<SHARES-REINVESTED>                            421,555
<NET-CHANGE-IN-ASSETS>                    (11,972,127)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (4,047,747)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          900,170
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                900,170
<AVERAGE-NET-ASSETS>                        89,397,000
<PER-SHARE-NAV-BEGIN>                             9.70
<PER-SHARE-NII>                                    .57
<PER-SHARE-GAIN-APPREC>                            .20
<PER-SHARE-DIVIDEND>                               .57
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.90
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000710434
<NAME> BARTLETT CAPITAL TRUST
<SERIES>
   <NUMBER> 3
   <NAME> BARTLETT VALUE INTERNATIONAL FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1996
<PERIOD-START>                             APR-01-1995
<PERIOD-END>                               MAR-31-1996
<INVESTMENTS-AT-COST>                       65,394,658
<INVESTMENTS-AT-VALUE>                      71,035,887
<RECEIVABLES>                                  972,759
<ASSETS-OTHER>                                   2,521
<OTHER-ITEMS-ASSETS>                           173,250
<TOTAL-ASSETS>                              72,184,417
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      143,813
<TOTAL-LIABILITIES>                            143,813
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    63,652,243
<SHARES-COMMON-STOCK>                        5,721,825
<SHARES-COMMON-PRIOR>                        4,952,364
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      2,748,689
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     5,639,672
<NET-ASSETS>                                72,040,604
<DIVIDEND-INCOME>                            1,683,228
<INTEREST-INCOME>                              238,106
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,215,664
<NET-INVESTMENT-INCOME>                        705,670
<REALIZED-GAINS-CURRENT>                     5,091,672
<APPREC-INCREASE-CURRENT>                    1,979,041
<NET-CHANGE-FROM-OPS>                        7,776,383
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      709,685
<DISTRIBUTIONS-OF-GAINS>                     2,033,031
<DISTRIBUTIONS-OTHER>                           56,680
<NUMBER-OF-SHARES-SOLD>                      2,030,782
<NUMBER-OF-SHARES-REDEEMED>                  1,434,766
<SHARES-REINVESTED>                            173,445
<NET-CHANGE-IN-ASSETS>                      14,376,891
<ACCUMULATED-NII-PRIOR>                         11,126
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                     253,272
<GROSS-ADVISORY-FEES>                        1,215,664
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,215,664
<AVERAGE-NET-ASSETS>                        66,498,000
<PER-SHARE-NAV-BEGIN>                            11.64
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                           1.33
<PER-SHARE-DIVIDEND>                               .13
<PER-SHARE-DISTRIBUTIONS>                          .37
<RETURNS-OF-CAPITAL>                               .01
<PER-SHARE-NAV-END>                              12.59
<EXPENSE-RATIO>                                   1.83
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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