IAI INVESTMENT FUNDS VIII INC
NSAR-B, EX-27, 2000-05-30
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<TABLE> <S> <C>


<ARTICLE>                                            6
<CIK>                         0000721789
<NAME>                        IAI INVESTMENT FUNDS VIII, INC.
<SERIES>
   <NUMBER>                   1
   <NAME>                     IAI Value Fund

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                              MAR-31-2000
<PERIOD-START>                                 APR-01-1999
<PERIOD-END>                                   MAR-31-2000
<INVESTMENTS-AT-COST>                          14,655,127
<INVESTMENTS-AT-VALUE>                         16,470,613
<RECEIVABLES>                                  824,861
<ASSETS-OTHER>                                 25,669
<OTHER-ITEMS-ASSETS>                           0
<TOTAL-ASSETS>                                 17,321,143
<PAYABLE-FOR-SECURITIES>                       739,121
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                      20,538
<TOTAL-LIABILITIES>                            759,659
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                       12,416,930
<SHARES-COMMON-STOCK>                          2,021,084
<SHARES-COMMON-PRIOR>                          1,121,174
<ACCUMULATED-NII-CURRENT>                      0
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        2,329,068
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                       1,815,486
<NET-ASSETS>                                   16,561,484
<DIVIDEND-INCOME>                              61,125
<INTEREST-INCOME>                              40,163
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                 126,058
<NET-INVESTMENT-INCOME>                        (24,770)
<REALIZED-GAINS-CURRENT>                       6,364,324
<APPREC-INCREASE-CURRENT>                      (5,686,039)
<NET-CHANGE-FROM-OPS>                          653,515
<EQUALIZATION>                                 300,000
<DISTRIBUTIONS-OF-INCOME>                      0
<DISTRIBUTIONS-OF-GAINS>                       (2,510,127)
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                        1,305,290
<NUMBER-OF-SHARES-REDEEMED>                    (817,717)
<SHARES-REINVESTED>                            412,337
<NET-CHANGE-IN-ASSETS>                         2,878,441
<ACCUMULATED-NII-PRIOR>                        0
<ACCUMULATED-GAINS-PRIOR>                      (1,263,791)
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                          (125,699)
<INTEREST-EXPENSE>                             (359)
<GROSS-EXPENSE>                                (129,948)
<AVERAGE-NET-ASSETS>                           10,027,313
<PER-SHARE-NAV-BEGIN>                          12.20
<PER-SHARE-NII>                                (0.02)
<PER-SHARE-GAIN-APPREC>                        (0.51)
<PER-SHARE-DIVIDEND>                           0
<PER-SHARE-DISTRIBUTIONS>                      (3.48)
<RETURNS-OF-CAPITAL>                           0
<PER-SHARE-NAV-END>                            8.19
<EXPENSE-RATIO>                                1.25



</TABLE>


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