COUNTRYWIDE STRATEGIC TRUST
NSAR-B, 1998-05-28
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<PAGE>      PAGE  1
000 B000000 03/31/98
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000 D000000 N
000 E000000 NF
000 F000000 Y
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000 I000000 3.0.a
000 J000000 A
001 A000000 COUNTRYWIDE STRATEGIC TRUST
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002 B000000 CINCINNATI
002 C000000 OH
002 D010000 45202
002 D020000 4094
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007 C010100  1
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007 C020300 GOVERNMENT MORTGAGE FUND
007 C030300 Y
007 C010400  4
007 C010500  5
007 C020500 UTILITY FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C020700 EQUITY FUND
007 C030700 N
007 C010800  8
007 C020800 GROWTH/VALUE FUND
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007 C010900  9
007 C020900 AGGRESSIVE GROWTH FUND
007 C030900 N
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010 B00AA01 84-1093
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010 C02AA01 OH
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011 A00AA01 COUNTRYWIDE INVESTMENTS, INC.
011 B00AA01 8-24674
<PAGE>      PAGE  2
011 C01AA01 CINCINNATI
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013 A00AA01 ARTHUR ANDERSEN LLP
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013 B04AA01 3912
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020 A000002 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
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<PAGE>      PAGE  3
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022 A000004 FIRST TENNESSEE BANK BOND DIVISION
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022 B000005 13-3299429
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022 B000008 22-2347336
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  19
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<PAGE>      PAGE  20
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008 B000801 A
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008 D020801 OH
008 D030801 45202
008 D040801 4094
008 A000802 MASTRAPASQUA & ASSOCIATES, INC.
008 B000802 S
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014 A000801 COUNTRYWIDE INVESTMENTS, INC.
014 B000801 8-24674
014 A000802 CHARLES SCHWAB & CO., INC.
014 B000802 8-16514
015 A000801 STAR BANK, N.A.
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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050  000800 N
051  000800 N
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054 C000800 N
054 D000800 N
054 E000800 N
054 F000800 N
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<PAGE>      PAGE  23
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070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
<PAGE>      PAGE  24
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070 H010800 N
070 H020800 N
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070 I020800 N
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070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 Y
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070 N020800 N
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<PAGE>      PAGE  25
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008 A000901 COUNTRYWIDE INVESTMENTS, INC.
008 B000901 A
008 C000901 801-10344
008 D010901 CINCINNATI
008 D020901 OH
<PAGE>      PAGE  26
008 D030901 45202
008 D040901 4094
008 A000902 MASTRAPASQUA & ASSOCIATES, INC.
008 B000902 S
008 C000902 801-43315
008 D010902 NASHVILLE
008 D020902 TN
008 D030902 37203
014 A000901 COUNTRYWIDE INVESTMENTS, INC.
014 B000901 8-24674
014 A000902 CHARLES SCHWAB & CO., INC.
014 B000902 8-16514
015 A000901 STAR BANK, N.A.
015 B000901 C
015 C010901 CINCINNATI
015 C020901 OH
015 C030901 45202
015 E010901 X
015 A000902 BANKERS TRUST COMPANY
015 B000902 S
015 C010902 NEW YORK
015 C020902 NY
015 C030902 10015
015 E010902 X
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<PAGE>      PAGE  27
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040  000900 Y
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<PAGE>      PAGE  28
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049  000900 N
050  000900 N
051  000900 N
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054 B000900 N
054 C000900 N
054 D000900 N
054 E000900 N
054 F000900 N
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054 M000900 Y
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<PAGE>      PAGE  29
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067  000900 N
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070 H020900 N
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070 I020900 N
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070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 Y
070 L020900 Y
070 M010900 N
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<PAGE>      PAGE  30
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SIGNATURE   JOHN F. SPLAIN                               
TITLE       SECRETARY           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 3
   <NAME> GOVERNMENT MORTGAGE FUND
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 51
   <NAME> UTILITY FUND CLASS A
       
<S>                             <C>
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<RECEIVABLES>                                  225,042
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 53
   <NAME> UTILITY FUND CLASS C
       
<S>                             <C>
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<NUMBER-OF-SHARES-SOLD>                         23,316
<NUMBER-OF-SHARES-REDEEMED>                     65,381
<SHARES-REINVESTED>                              7,595
<NET-CHANGE-IN-ASSETS>                         497,347
<ACCUMULATED-NII-PRIOR>                            242
<ACCUMULATED-GAINS-PRIOR>                      251,541
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          303,151
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                529,594
<AVERAGE-NET-ASSETS>                         3,101,704
<PER-SHARE-NAV-BEGIN>                            12.43
<PER-SHARE-NII>                                    .31
<PER-SHARE-GAIN-APPREC>                           4.57
<PER-SHARE-DIVIDEND>                               .33
<PER-SHARE-DISTRIBUTIONS>                          .24
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.74
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 71
   <NAME> EQUITY FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                  12-MOS
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-START>                             APR-01-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                       29,761,358
<INVESTMENTS-AT-VALUE>                      42,165,777
<RECEIVABLES>                                   85,108
<ASSETS-OTHER>                                   5,731
<OTHER-ITEMS-ASSETS>                             2,091
<TOTAL-ASSETS>                              42,258,707
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       60,711
<TOTAL-LIABILITIES>                             60,711
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    29,793,481
<SHARES-COMMON-STOCK>                        1,978,069
<SHARES-COMMON-PRIOR>                        1,088,598
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             96
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    12,404,419
<NET-ASSETS>                                38,336,423
<DIVIDEND-INCOME>                              291,509
<INTEREST-INCOME>                              237,569
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 394,780
<NET-INVESTMENT-INCOME>                        134,298
<REALIZED-GAINS-CURRENT>                       131,522
<APPREC-INCREASE-CURRENT>                    9,717,678
<NET-CHANGE-FROM-OPS>                        9,983,498
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      134,305
<DISTRIBUTIONS-OF-GAINS>                       266,654
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,675,833
<NUMBER-OF-SHARES-REDEEMED>                    808,858
<SHARES-REINVESTED>                             22,496
<NET-CHANGE-IN-ASSETS>                      23,353,785
<ACCUMULATED-NII-PRIOR>                              7
<ACCUMULATED-GAINS-PRIOR>                      164,431
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          221,798
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                394,780
<AVERAGE-NET-ASSETS>                        26,360,854
<PER-SHARE-NAV-BEGIN>                            13.76
<PER-SHARE-NII>                                    .09
<PER-SHARE-GAIN-APPREC>                           5.76
<PER-SHARE-DIVIDEND>                               .08
<PER-SHARE-DISTRIBUTIONS>                          .15
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.38
<EXPENSE-RATIO>                                   1.25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 73
   <NAME> EQUITY FUND CLASS C
       
<S>                             <C>
<PERIOD-TYPE>                  12-MOS
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-START>                             APR-01-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                       29,761,358
<INVESTMENTS-AT-VALUE>                      42,165,777
<RECEIVABLES>                                   85,108
<ASSETS-OTHER>                                   5,731
<OTHER-ITEMS-ASSETS>                             2,091
<TOTAL-ASSETS>                              42,258,707
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       60,711
<TOTAL-LIABILITIES>                             60,711
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    29,793,481
<SHARES-COMMON-STOCK>                          199,685
<SHARES-COMMON-PRIOR>                          201,191
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             96
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    12,404,419
<NET-ASSETS>                                 3,861,573
<DIVIDEND-INCOME>                              291,509
<INTEREST-INCOME>                              237,569
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 394,780
<NET-INVESTMENT-INCOME>                        134,298
<REALIZED-GAINS-CURRENT>                       131,522
<APPREC-INCREASE-CURRENT>                    9,717,678
<NET-CHANGE-FROM-OPS>                        9,983,498
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                        29,203
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         23,254
<NUMBER-OF-SHARES-REDEEMED>                     26,402
<SHARES-REINVESTED>                              1,642
<NET-CHANGE-IN-ASSETS>                       1,091,420
<ACCUMULATED-NII-PRIOR>                              7
<ACCUMULATED-GAINS-PRIOR>                      164,431
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          221,798
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                394,780
<AVERAGE-NET-ASSETS>                         3,279,246
<PER-SHARE-NAV-BEGIN>                            13.77
<PER-SHARE-NII>                                   (.03)
<PER-SHARE-GAIN-APPREC>                           5.75
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .15
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.34
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 8
   <NAME> GROWTH/VALUE FUND
       
<S>                             <C>
<PERIOD-TYPE>                   7-MOS
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-START>                             SEP-01-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                       20,435,726
<INVESTMENTS-AT-VALUE>                      28,547,955
<RECEIVABLES>                                1,039,972
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                            17,944
<TOTAL-ASSETS>                              29,605,871
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      956,618
<TOTAL-LIABILITIES>                            956,618
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    20,133,868
<SHARES-COMMON-STOCK>                        1,757,393
<SHARES-COMMON-PRIOR>                        1,684,685
<ACCUMULATED-NII-CURRENT>                            0 
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        403,156
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     8,112,229
<NET-ASSETS>                                28,649,253
<DIVIDEND-INCOME>                              108,061
<INTEREST-INCOME>                               12,255
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 266,338
<NET-INVESTMENT-INCOME>                       (146,022)
<REALIZED-GAINS-CURRENT>                     1,566,803
<APPREC-INCREASE-CURRENT>                      437,753
<NET-CHANGE-FROM-OPS>                        1,858,534
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                     1,021,333
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        392,494
<NUMBER-OF-SHARES-REDEEMED>                    343,315
<SHARES-REINVESTED>                             23,529
<NET-CHANGE-IN-ASSETS>                       1,871,184
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (142,314)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          160,090
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                266,338
<AVERAGE-NET-ASSETS>                        27,571,527
<PER-SHARE-NAV-BEGIN>                            15.90
<PER-SHARE-NII>                                   (.08)
<PER-SHARE-GAIN-APPREC>                           1.05
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .57
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.30
<EXPENSE-RATIO>                                   1.66
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000711080
<NAME> COUNTRYWIDE STRATEGIC TRUST
<SERIES>
   <NUMBER> 9
   <NAME> AGGRESSIVE GROWTH FUND
       
<S>                             <C>
<PERIOD-TYPE>                   7-MOS
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-START>                             SEP-01-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                       11,208,150
<INVESTMENTS-AT-VALUE>                      15,463,566
<RECEIVABLES>                                   42,597
<ASSETS-OTHER>                                   3,403
<OTHER-ITEMS-ASSETS>                            17,106
<TOTAL-ASSETS>                              15,526,672
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       31,308
<TOTAL-LIABILITIES>                             31,308
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    11,354,846
<SHARES-COMMON-STOCK>                          980,105
<SHARES-COMMON-PRIOR>                          858,688
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (114,898)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     4,255,416
<NET-ASSETS>                                15,495,364
<DIVIDEND-INCOME>                               16,540
<INTEREST-INCOME>                                8,332
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 167,203
<NET-INVESTMENT-INCOME>                       (142,331)
<REALIZED-GAINS-CURRENT>                       241,580
<APPREC-INCREASE-CURRENT>                     (458,321)
<NET-CHANGE-FROM-OPS>                         (359,072)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        304,821
<NUMBER-OF-SHARES-REDEEMED>                    183,404
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       1,511,629
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                     (356,478)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           85,703
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                167,203
<AVERAGE-NET-ASSETS>                        14,762,670
<PER-SHARE-NAV-BEGIN>                            16.29
<PER-SHARE-NII>                                   (.15)
<PER-SHARE-GAIN-APPREC>                           (.33)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.81
<EXPENSE-RATIO>                                   1.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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