<PAGE> 1
As filed with the Securities and Exchange Commission on August 29, 1997
Registration Nos. 2-95973 and 811-4236
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM N-lA
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 / X /
POST-EFFECTIVE AMENDMENT NO. 43 / X /
and
REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT / X /
OF 1940
AMENDMENT NO. 44 / X /
THE ONE GROUP(R)
(Exact Name of Registrant as Specified in Charter)
1111 POLARIS PARKWAY
P.O. BOX 710211
COLUMBUS, OHIO 43271-0211
(Address of Principal Executive Offices)
(800) 480-4111
(Registrant's Telephone Number)
GEORGE MARTINEZ
3435 STELZER ROAD
COLUMBUS, OHIO 43219
(Name and Address of Agent for Service)
Copies To:
Alan G. Priest, Esquire Michael V. Wible, Esquire
Ropes & Gray Banc One Corporation
One Franklin Square 100 East Broad Street, 18th Fl.
1301 K Street, N.W., Suite 800E Columbus, Ohio 43271
Washington, D.C. 20005
It is proposed that this filing will become effective (check appropriate box)
/ / Immediately upon filing pursuant to paragraph (b)
/ / on (date) pursuant to paragraph (b)
/ X / 60 days after filing pursuant to paragraph (a)(1)
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<F1>CLASS A
</FN>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 041
<NAME> THE ONE GROUP INCOME EQUITY FUND
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<F1>FIDUCIARY CLASS
</FN>
</TABLE>
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<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 042
<NAME> THE ONE GROUP INCOME EQUITY FUND
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<S> <C>
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<FN>
<F1>CLASS A
</FN>
</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 043
<NAME> THE ONE GROUP INCOME EQUITY FUND
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<S> <C>
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<FN>
<F1>CLASS B
</FN>
</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 051
<NAME> THE ONE GROUP INCOME BOND FUND
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<S> <C>
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<FN>
<F1>FIDUCIARY CLASS
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 052
<NAME> THE ONE GROUP INCOME BOND FUND
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<S> <C>
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<F1>CLASS A
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 053
<NAME> THE ONE GROUP INCOME BOND FUND
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<F1>CLASS B
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NAME> THE ONE GROUP INTERMEDIATE TAX-FREE BOND FUND
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<F1>FIDUCIARY CLASS
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</TABLE>
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 062
<NAME> THE ONE GROUP INTERMEDIATE TAX-FREE BOND FUND
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<FN>
<F1>CLASS A
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<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 063
<NAME> THE ONE GROUP INTERMEDIATE TAX-FREE BOND FUND
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<S> <C>
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<SHARES-REINVESTED> 8<F1>
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<F1>CLASS B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 071
<NAME> THE ONE GROUP DISCIPLINED VALUE FUND
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<S> <C>
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<ACCUM-APPREC-OR-DEPREC> 98279
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<SHARES-REINVESTED> 1984<F1>
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<GROSS-EXPENSE> 5700
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<PER-SHARE-NII> .22<F1>
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<FN>
<F1>FIDUCIARY CLASS
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 072
<NAME> THE ONE GROUP DISCIPLINED VALUE FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
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<APPREC-INCREASE-CURRENT> 36525
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<NUMBER-OF-SHARES-REDEEMED> 628<F1>
<SHARES-REINVESTED> 178<F1>
<NET-CHANGE-IN-ASSETS> 47093
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<GROSS-EXPENSE> 5700
<AVERAGE-NET-ASSETS> 21908<F1>
<PER-SHARE-NAV-BEGIN> 14.72<F1>
<PER-SHARE-NII> .19<F1>
<PER-SHARE-GAIN-APPREC> 2.57<F1>
<PER-SHARE-DIVIDEND> .19<F1>
<PER-SHARE-DISTRIBUTIONS> 1.61<F1>
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<PER-SHARE-NAV-END> 15.68<F1>
<EXPENSE-RATIO> 1.23<F1>
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<FN>
<F1>CLASS A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 073
<NAME> THE ONE GROUP DISCIPLINED VALUE FUND
<MULTIPLIER> 1,000
<S> <C>
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<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JUL-01-1996
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<PER-SHARE-NAV-BEGIN> 14.69<F1>
<PER-SHARE-NII> .08<F1>
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<FN>
<F1>CLASS B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 081
<NAME> THE ONE GROUP GROWTH OPPORTUNITIES FUND
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<S> <C>
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<FN>
<F1>FIDUCIARY CLASS
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 082
<NAME> THE ONE GROUP GROWTH OPPORTUNITIES FUND
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<S> <C>
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<FN>
<F1>CLASS A
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 083
<NAME> THE ONE GROUP GROWTH OPPORTUNITIES FUND
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<S> <C>
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<FISCAL-YEAR-END> JUN-30-1997
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<FN>
<F1>CLASS B
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 101
<NAME> THE ONE GROUP LIMITED VOLATILITY BOND FUND
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<S> <C>
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<PER-SHARE-DISTRIBUTIONS> .00<F1>
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<PER-SHARE-NAV-END> 10.47<F1>
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<FN>
<F1>FIDUCIARY CLASS
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 102
<NAME> THE ONE GROUP LIMITED VOLATILITY BOND FUND
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<S> <C>
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<F1>CLASS A
</FN>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 103
<NAME> THE ONE GROUP LIMITED VOLATILITY BOND FUND
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<F1>CLASS B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 111
<NAME> THE ONE GROUP EQUITY INDEX FUND
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<S> <C>
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<F1>FIDUCIARY CLASS
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 112
<NAME> THE ONE GROUP EQUITY INDEX FUND
<MULTIPLIER> 1,000
<S> <C>
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<F1>CLASS A
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 113
<NAME> THE ONE GROUP EQUITY INDEX FUND
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<S> <C>
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<FN>
<F1>CLASS B
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 121
<NAME> THE ONE GROUP LARGE COMPANY VALUE FUND
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<S> <C>
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<F1>FIDUCIARY CLASS
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 122
<NAME> THE ONE GROUP LARGE COMPANY VALUE FUND
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<S> <C>
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<F1>CLASS A
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 123
<NAME> THE ONE GROUP LARGE COMPANY VALUE FUND
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<S> <C>
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<FN>
<F1>CLASS B
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 131
<NAME> THE ONE GROUP OHIO MUNICIPAL BOND FUND
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<NAME> THE ONE GROUP OHIO MUNICIPAL BOND FUND
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NAME> THE ONE GROUP INTERNATIONAL EQUITY INDEX FUND
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<NAME> THE ONE GROUP INTERNATIONAL EQUITY INDEX FUND
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<F1>FIDUCIARY CLASS
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 172
<NAME> THE ONE GROUP ASSET ALLOCATION FUND
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<F1>CLASS A
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</TABLE>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 173
<NAME> THE ONE GROUP ASSET ALLOCATION FUND
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<F1>CLASS B
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 181
<NAME> THE ONE GROUP GOVERNMENT BOND FUND
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<S> <C>
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<F1>FIDUCIARY CLASS
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 182
<NAME> THE ONE GROUP GOVERNMENT BOND FUND
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<S> <C>
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<F1>CLASS A
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 183
<NAME> THE ONE GROUP GOVERNMENT BOND FUND
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<F1>CLASS B
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 191
<NAME> THE ONE GROUP ULTRA-SHORT TERM INCOME FUND
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 192
<NAME> THE ONE GROUP ULTRA-SHORT TERM INCOME FUND
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</TABLE>
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NAME> THE ONE GROUP ULTRA-SHORT TERM INCOME FUND
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<NAME> THE ONE GROUP MUNICIPAL INCOME FUND
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NAME> THE ONE GROUP MUNICIPAL INCOME FUND
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<NAME> THE ONE GROUP MUNICIPAL INCOME FUND
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<NUMBER> 211
<NAME> THE ONE GROUP OHIO MUNICIPAL MONEY MARKET FUND
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<S> <C>
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<NUMBER> 212
<NAME> THE ONE GROUP OHIO MUNICIPAL MONEY MARKET FUND
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 221
<NAME> THE ONE GROUP INTERMEDIATE BOND FUND
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<NAME> THE ONE GROUP INTERMEDIATE BOND FUND
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NAME> THE ONE GROUP INTERMEDIATE BOND FUND
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<F1>CLASS B
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<NAME> THE ONE GROUP LARGE COMPANY GROWTH FUND
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<NUMBER> 232
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<F1>CLASS A
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 233
<NAME> THE ONE GROUP LARGE COMPANY GROWTH FUND
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<F1>CLASS B
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 241
<NAME> THE ONE GROUP KENTUCKY MUNICIPAL BOND FUND
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<F1>FIDUCIARY CLASS
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<NUMBER> 242
<NAME> THE ONE GROUP KENTUCKY MUNICIPAL BOND FUND
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</TABLE>
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 243
<NAME> THE ONE GROUP KENTUCKY MUNICIPAL BOND FUND
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<F1>CLASS B
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 251
<NAME> THE ONE GROUP LOUISIANA MUNICIPAL BOND FUND
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<S> <C>
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NAME> THE ONE GROUP LOUISIANA MUNICIPAL BOND FUND
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</TABLE>
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NUMBER> 253
<NAME> THE ONE GROUP LOUISIANA MUNICIPAL BOND FUND
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<NAME> THE ONE GROUP GULF SOUTH GROWTH FUND
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<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
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<NAME> THE ONE GROUP VALUE GROWTH FUND
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<NAME> THE ONE GROUP VALUE GROWTH FUND
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<PER-SHARE-GAIN-APPREC> .65<F1>
<PER-SHARE-DIVIDEND> .16<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.65<F1>
<EXPENSE-RATIO> 1.22<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS B
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 411
<NAME> THE ONE GROUP TREASURY & AGENCY FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JAN-21-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 108064
<INVESTMENTS-AT-VALUE> 109632
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 110927
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 669
<TOTAL-LIABILITIES> 669
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 108512
<SHARES-COMMON-STOCK> 11024<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 178
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1568
<NET-ASSETS> 110258
<DIVIDEND-INCOME> 9
<INTEREST-INCOME> 3404
<OTHER-INCOME> 7
<EXPENSES-NET> 224
<NET-INVESTMENT-INCOME> 3196
<REALIZED-GAINS-CURRENT> 178
<APPREC-INCREASE-CURRENT> (341)
<NET-CHANGE-FROM-OPS> 3033
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<NUMBER-OF-SHARES-SOLD> 11951<F1>
<NUMBER-OF-SHARES-REDEEMED> 927<F1>
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<ACCUMULATED-NII-PRIOR> 0
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<AVERAGE-NET-ASSETS> 112458<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .28<F1>
<PER-SHARE-GAIN-APPREC> (.01)<F1>
<PER-SHARE-DIVIDEND> .28<F1>
<PER-SHARE-DISTRIBUTIONS> .00<F1>
<RETURNS-OF-CAPITAL> .00<F1>
<PER-SHARE-NAV-END> 9.99<F1>
<EXPENSE-RATIO> .45<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>FIDUCIARY CLASS
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 412
<NAME> THE ONE GROUP TREASURY & AGENCY FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JAN-21-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 108064
<INVESTMENTS-AT-VALUE> 109632
<RECEIVABLES> 1290
<ASSETS-OTHER> 5
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<TOTAL-ASSETS> 110927
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 669
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 108512
<SHARES-COMMON-STOCK> 9<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 178
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1568
<NET-ASSETS> 110258
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<NET-INVESTMENT-INCOME> 3196
<REALIZED-GAINS-CURRENT> 178
<APPREC-INCREASE-CURRENT> (341)
<NET-CHANGE-FROM-OPS> 3033
<EQUALIZATION> 0
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<NUMBER-OF-SHARES-SOLD> 9<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 110258
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 198
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 391
<AVERAGE-NET-ASSETS> 12<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .29<F1>
<PER-SHARE-GAIN-APPREC> (.02)<F1>
<PER-SHARE-DIVIDEND> .29<F1>
<PER-SHARE-DISTRIBUTIONS> .00<F1>
<RETURNS-OF-CAPITAL> .00<F1>
<PER-SHARE-NAV-END> 9.98<F1>
<EXPENSE-RATIO> .71<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS A
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000763852
<NAME> THE ONE GROUP FAMILY OF MUTUAL FUNDS
<SERIES>
<NUMBER> 413
<NAME> THE ONE GROUP TREASURY & AGENCY FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-1997
<PERIOD-START> JAN-21-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 108064
<INVESTMENTS-AT-VALUE> 109632
<RECEIVABLES> 1290
<ASSETS-OTHER> 5
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<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 669
<TOTAL-LIABILITIES> 669
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 108512
<SHARES-COMMON-STOCK> 8<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 178
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1568
<NET-ASSETS> 110258
<DIVIDEND-INCOME> 9
<INTEREST-INCOME> 3404
<OTHER-INCOME> 7
<EXPENSES-NET> 224
<NET-INVESTMENT-INCOME> 3196
<REALIZED-GAINS-CURRENT> 178
<APPREC-INCREASE-CURRENT> (341)
<NET-CHANGE-FROM-OPS> 3033
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0<F1>
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<NUMBER-OF-SHARES-SOLD> 8<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 110258
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 198
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 391
<AVERAGE-NET-ASSETS> 5<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .26<F1>
<PER-SHARE-GAIN-APPREC> (.01)<F1>
<PER-SHARE-DIVIDEND> .26<F1>
<PER-SHARE-DISTRIBUTIONS> .00<F1>
<RETURNS-OF-CAPITAL> .00<F1>
<PER-SHARE-NAV-END> 9.99<F1>
<EXPENSE-RATIO> 1.23<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>CLASS B
</FN>
</TABLE>
