<PAGE> PAGE 1
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007 C020900 UTILITIES FUND
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<PAGE> PAGE 2
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010 C03AA01 10105
011 A00AA01 SMITH BARNEY INC.
011 B00AA01 8-12-8510
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10105
012 A00AA01 THE SHAREHOLDER SERVICES GROUP (TSSG)
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<PAGE> PAGE 3
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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 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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SIGNATURE CHRISTINA HAAGE
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> SBS INC FUNDS - PREMIUM TOTAL RETURN - CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
<INVESTMENTS-AT-COST> 1,608,586,367
<INVESTMENTS-AT-VALUE> 1,755,126,605
<RECEIVABLES> 37,488,603
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 151,689
<TOTAL-ASSETS> 1,792,766,897
<PAYABLE-FOR-SECURITIES> 3,685,753
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 22,110,718
<TOTAL-LIABILITIES> 25,796,471
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,622,769,650
<SHARES-COMMON-STOCK> 4,314,437
<SHARES-COMMON-PRIOR> 2,534,631
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,338,819)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (15,592,192)
<ACCUM-APPREC-OR-DEPREC> 162,131,787
<NET-ASSETS> 1,782,562,618
<DIVIDEND-INCOME> 38,906,024
<INTEREST-INCOME> 11,306,224
<OTHER-INCOME> 0
<EXPENSES-NET> 25,454,472
<NET-INVESTMENT-INCOME> 24,757,776
<REALIZED-GAINS-CURRENT> 61,129,346
<APPREC-INCREASE-CURRENT> 29,779,501
<NET-CHANGE-FROM-OPS> 115,666,623
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,519,668
<DISTRIBUTIONS-OF-GAINS> 2,004,047
<DISTRIBUTION-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,416,033
<NUMBER-OF-SHARES-REDEEMED> 873,722
<SHARES-REINVESTED> 237,495
<NET-CHANGE-IN-ASSETS> 496,199,873
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (1,802,567)
<OVERDIST-NET-GAINS-PRIOR> (3,911,665)
<GROSS-ADVISORY-FEES> 8,506,930
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 25,454,472
<AVERAGE-NET-ASSETS> 1,766,970,426
<PER-SHARE-NAV-BEGIN> 15.65
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> 0.99
<PER-SHARE-DIVIDEND> 0.55
<PER-SHARE-DISTRIBUTIONS> 0.52
<RETURNS-OF-CAPITAL> 0.21
<PER-SHARE-NAV-END> 15.69
<EXPENSE-RATIO> 1.19
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<ARTICLE> 6
<SERIES>
[NUMBER] 1
<NAME> SBS INC FUNDS - PREMIUM TOTAL RETURN - CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 1,608,586,367
[INVESTMENTS-AT-VALUE] 1,755,126,605
[RECEIVABLES] 37,488,603
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 151,689
[TOTAL-ASSETS] 1,792,766,897
[PAYABLE-FOR-SECURITIES] 3,685,753
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 22,110,718
[TOTAL-LIABILITIES] 25,796,471
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,622,769,650
[SHARES-COMMON-STOCK] 108,175,921
[SHARES-COMMON-PRIOR] 78,636,450
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,338,819)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (15,592,192)
[ACCUM-APPREC-OR-DEPREC] 162,131,787
[NET-ASSETS] 1,782,562,618
[DIVIDEND-INCOME] 38,906,024
[INTEREST-INCOME] 11,306,224
[OTHER-INCOME] 0
[EXPENSES-NET] 25,454,472
[NET-INVESTMENT-INCOME] 24,757,776
[REALIZED-GAINS-CURRENT] 61,129,346
[APPREC-INCREASE-CURRENT] 29,779,501
[NET-CHANGE-FROM-OPS] 115,666,623
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 61,645,309
[DISTRIBUTIONS-OF-GAINS] 51,798,627
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 34,622,952
[NUMBER-OF-SHARES-REDEEMED] 10,605,754
[SHARES-REINVESTED] 5,522,273
[NET-CHANGE-IN-ASSETS] 496,199,873
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (1,802,567)
[OVERDIST-NET-GAINS-PRIOR] (3,911,665)
[GROSS-ADVISORY-FEES] 8,506,930
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 25,454,472
[AVERAGE-NET-ASSETS] 1,766,970,426
[PER-SHARE-NAV-BEGIN] 15.65
[PER-SHARE-NII] 0.25
[PER-SHARE-GAIN-APPREC] 1.00
[PER-SHARE-DIVIDEND] 0.49
[PER-SHARE-DISTRIBUTIONS] 0.52
[RETURNS-OF-CAPITAL] 0.20
[PER-SHARE-NAV-END] 15.69
[EXPENSE-RATIO] 1.66
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 1
<NAME> SBS INC FUNDS - PREMIUM TOTAL RETURN - CLASS D
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 1,608,586,367
[INVESTMENTS-AT-VALUE] 1,755,126,605
[RECEIVABLES] 37,488,603
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 151,689
[TOTAL-ASSETS] 1,792,766,897
[PAYABLE-FOR-SECURITIES] 3,685,753
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 22,110,718
[TOTAL-LIABILITIES] 25,796,471
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,622,769,650
[SHARES-COMMON-STOCK] 119,667
[SHARES-COMMON-PRIOR] 22,828
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,338,819)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (15,592,192)
[ACCUM-APPREC-OR-DEPREC] 162,131,787
[NET-ASSETS] 1,782,562,618
[DIVIDEND-INCOME] 38,906,024
[INTEREST-INCOME] 11,306,224
[OTHER-INCOME] 0
[EXPENSES-NET] 25,454,472
[NET-INVESTMENT-INCOME] 24,757,776
[REALIZED-GAINS-CURRENT] 61,129,346
[APPREC-INCREASE-CURRENT] 29,779,501
[NET-CHANGE-FROM-OPS] 115,666,623
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 61,645,309
[DISTRIBUTIONS-OF-GAINS] 51,798,627
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 101,169
[NUMBER-OF-SHARES-REDEEMED] 9,504
[SHARES-REINVESTED] 5,174
[NET-CHANGE-IN-ASSETS] 496,199,873
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (1,802,567)
[OVERDIST-NET-GAINS-PRIOR] (3,911,665)
[GROSS-ADVISORY-FEES] 8,506,930
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 25,454,472
[AVERAGE-NET-ASSETS] 1,766,970,426
[PER-SHARE-NAV-BEGIN] 15.65
[PER-SHARE-NII] 0.23
[PER-SHARE-GAIN-APPREC] 1.02
[PER-SHARE-DIVIDEND] 0.49
[PER-SHARE-DISTRIBUTIONS] 0.52
[RETURNS-OF-CAPITAL] 0.20
[PER-SHARE-NAV-END] 15.69
[EXPENSE-RATIO] 1.60
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 4
<NAME> SBS INC FUNDS - TAX EXEMPT - CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 1,068,316,608
[INVESTMENTS-AT-VALUE] 1,088,407,909
[RECEIVABLES] 17,685,640
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 160,608
[TOTAL-ASSETS] 1,106,254,157
[PAYABLE-FOR-SECURITIES] 14,650,503
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,344,793
[TOTAL-LIABILITIES] 18,995,296
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,068,360,243
[SHARES-COMMON-STOCK] 1,031,069
[SHARES-COMMON-PRIOR] 740,558
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,372,244)
[ACCUMULATED-NET-GAINS] 1,179,561
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 20,091,301
[NET-ASSETS] 1,087,258,861
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 76,076,446
[OTHER-INCOME] 0
[EXPENSES-NET] 15,122,466
[NET-INVESTMENT-INCOME] 60,953,980
[REALIZED-GAINS-CURRENT] 1,179,561
[APPREC-INCREASE-CURRENT] (56,414,234)
[NET-CHANGE-FROM-OPS] 5,719,307
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,038,501
[DISTRIBUTIONS-OF-GAINS] 149,909
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 2,396,372
[NUMBER-OF-SHARES-REDEEMED] 2,152,168
[SHARES-REINVESTED] 46,307
[NET-CHANGE-IN-ASSETS] (34,342,270)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 8,381,999
[OVERDISTRIB-NII-PRIOR] (2,188,877)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 4,561,779
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 15,122,466
[AVERAGE-NET-ASSETS] 1,087,258,861
[PER-SHARE-NAV-BEGIN] 18.24
[PER-SHARE-NII] 1.06
[PER-SHARE-GAIN-APPREC] 0.85
[PER-SHARE-DIVIDEND] 1.06
[PER-SHARE-DISTRIBUTIONS] 0.13
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 17.26
[EXPENSE-RATIO] 0.84
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 4
<NAME> SBS INC FUNDS - TAX EXEMPT - CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 1,068,316,608
[INVESTMENTS-AT-VALUE] 1,088,407,909
[RECEIVABLES] 17,685,640
[ASSETS-OTHER] 0
[OTHER-ITEMS-ASSETS] 160,608
[TOTAL-ASSETS] 1,106,254,157
[PAYABLE-FOR-SECURITIES] 14,650,503
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,344,793
[TOTAL-LIABILITIES] 18,995,296
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,068,360,243
[SHARES-COMMON-STOCK] 61,960,951
[SHARES-COMMON-PRIOR] 60,751,506
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,372,244)
[ACCUMULATED-NET-GAINS] 1,179,561
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 20,091,301
[NET-ASSETS] 1,087,258,861
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 76,076,446
[OTHER-INCOME] 0
[EXPENSES-NET] 15,122,466
[NET-INVESTMENT-INCOME] 60,953,980
[REALIZED-GAINS-CURRENT] 1,179,561
[APPREC-INCREASE-CURRENT] (56,414,234)
[NET-CHANGE-FROM-OPS] 5,719,307
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,038,501
[DISTRIBUTIONS-OF-GAINS] 149,909
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 8,179,538
[NUMBER-OF-SHARES-REDEEMED] 9,208,861
[SHARES-REINVESTED] 2,238,768
[NET-CHANGE-IN-ASSETS] (34,342,270)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 8,381,999
[OVERDISTRIB-NII-PRIOR] (2,188,877)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 4,561,779
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 15,122,466
[AVERAGE-NET-ASSETS] 1,087,258,861
[PER-SHARE-NAV-BEGIN] 18.24
[PER-SHARE-NII] 1.06
[PER-SHARE-GAIN-APPREC] 0.85
[PER-SHARE-DIVIDEND] 1.06
[PER-SHARE-DISTRIBUTIONS] 0.13
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 17.26
[EXPENSE-RATIO] 0.84
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 5
<NAME> SBS INC FUNDS - MONEY MARKET
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 260,776,063
[INVESTMENTS-AT-VALUE] 260,776,063
[RECEIVABLES] 914,848
[ASSETS-OTHER] 594
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 261,691,505
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 9,445,465
[TOTAL-LIABILITIES] 9,445,465
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 252,353,716
[SHARES-COMMON-STOCK] 252,353,716
[SHARES-COMMON-PRIOR] 166,418,531
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (107,676)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 252,246,040
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 7,254,141
[OTHER-INCOME] 0
[EXPENSES-NET] 2,605,077
[NET-INVESTMENT-INCOME] 4,649,064
[REALIZED-GAINS-CURRENT] 49,072
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 4,698,136
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 4,649,064
[DISTRIBUTIONS-OF-GAINS] 0
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 631,604,784
[NUMBER-OF-SHARES-REDEEMED] 549,680,752
[SHARES-REINVESTED] 4,011,153
[NET-CHANGE-IN-ASSETS] 85,984,257
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 42,425
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 622,203
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,605,077
[AVERAGE-NET-ASSETS] 207,400,902
[PER-SHARE-NAV-BEGIN] 1.000
[PER-SHARE-NII] 0.022
[PER-SHARE-GAIN-APPREC] 0.000
[PER-SHARE-DIVIDEND] 0.022
[PER-SHARE-DISTRIBUTIONS] 0.000
[RETURNS-OF-CAPITAL] 0.000
[PER-SHARE-NAV-END] 1.000
[EXPENSE-RATIO] 1.26
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 6
<NAME> SBS INC FUNDS- CONVERTIBLE SECURITIES CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 87,158,558
[INVESTMENTS-AT-VALUE] 87,090,783
[RECEIVABLES] 836,305
[ASSETS-OTHER] 726
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 87,927,814
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 443,925
[TOTAL-LIABILITIES] 443,925
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 93,795,692
[SHARES-COMMON-STOCK] 157,572
[SHARES-COMMON-PRIOR] 110,351
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (65,206)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (6,178,822)
[ACCUM-APPREC-OR-DEPREC] (67,775)
[NET-ASSETS] 87,483,889
[DIVIDEND-INCOME] 2,619,143
[INTEREST-INCOME] 2,657,041
[OTHER-INCOME] 0
[EXPENSES-NET] 1,591,201
[NET-INVESTMENT-INCOME] 3,684,983
[REALIZED-GAINS-CURRENT] 2,361,914
[APPREC-INCREASE-CURRENT] (5,170,821)
[NET-CHANGE-FROM-OPS] 876,076
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 109,396
[DISTRIBUTIONS-OF-GAINS] 0
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 84,040
[NUMBER-OF-SHARES-REDEEMED] 43,742
[SHARES-REINVESTED] 6,923
[NET-CHANGE-IN-ASSETS] 10,972,014
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (54,633)
[OVERDIST-NET-GAINS-PRIOR] (8,540,716)
[GROSS-ADVISORY-FEES] 425,505
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,591,201
[AVERAGE-NET-ASSETS] 85,101,065
[PER-SHARE-NAV-BEGIN] 14.99
[PER-SHARE-NII] 0.72
[PER-SHARE-GAIN-APPREC] (0.42)
[PER-SHARE-DIVIDEND] 0.73
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 14.56
[EXPENSE-RATIO] 1.40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 6
<NAME> SBS INC FUNDS- CONVERTIBLE SECURITIES CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 87,158,558
[INVESTMENTS-AT-VALUE] 87,090,783
[RECEIVABLES] 836,305
[ASSETS-OTHER] 726
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 87,927,814
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 443,925
[TOTAL-LIABILITIES] 443,925
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 93,795,692
[SHARES-COMMON-STOCK] 5,850,908
[SHARES-COMMON-PRIOR] 4,992,500
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (65,206)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (6,178,822)
[ACCUM-APPREC-OR-DEPREC] (67,775)
[NET-ASSETS] 87,483,889
[DIVIDEND-INCOME] 2,619,143
[INTEREST-INCOME] 2,657,041
[OTHER-INCOME] 0
[EXPENSES-NET] 1,591,201
[NET-INVESTMENT-INCOME] 3,684,983
[REALIZED-GAINS-CURRENT] 2,361,914
[APPREC-INCREASE-CURRENT] (5,170,821)
[NET-CHANGE-FROM-OPS] 876,076
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 3,666,700
[DISTRIBUTIONS-OF-GAINS] 0
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 1,720,098
[NUMBER-OF-SHARES-REDEEMED] 1,060,928
[SHARES-REINVESTED] 199,238
[NET-CHANGE-IN-ASSETS] 10,972,014
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (54,633)
[OVERDIST-NET-GAINS-PRIOR] (8,540,716)
[GROSS-ADVISORY-FEES] 425,505
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,591,201
[AVERAGE-NET-ASSETS] 85,101,065
[PER-SHARE-NAV-BEGIN] 14.99
[PER-SHARE-NII] 0.65
[PER-SHARE-GAIN-APPREC] (0.42)
[PER-SHARE-DIVIDEND] 0.66
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 14.56
[EXPENSE-RATIO] 1.88
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 7
<NAME> SBS INC FUNDS- GLOBAL BOND CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 107,120,807
[INVESTMENTS-AT-VALUE] 106,934,868
[RECEIVABLES] 71,063,858
[ASSETS-OTHER] 502,177
[OTHER-ITEMS-ASSETS] 39,692,332
[TOTAL-ASSETS] 218,193,235
[PAYABLE-FOR-SECURITIES] 6,277,058
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 89,407,320
[TOTAL-LIABILITIES] 95,684,378
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 129,028,297
[SHARES-COMMON-STOCK] 2,604,781
[SHARES-COMMON-PRIOR] 144,552
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (3,516,824)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (3,052,163)
[ACCUM-APPREC-OR-DEPREC] 49,547
[NET-ASSETS] 122,508,857
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 5,265,420
[OTHER-INCOME] 0
[EXPENSES-NET] 1,573,047
[NET-INVESTMENT-INCOME] 3,692,373
[REALIZED-GAINS-CURRENT] (4,444,865)
[APPREC-INCREASE-CURRENT] (656,997)
[NET-CHANGE-FROM-OPS] (1,409,489)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 369,155
[DISTRIBUTIONS-OF-GAINS] 45,122
<DISTRIBUTION-OTHER> 9,784
[NUMBER-OF-SHARES-SOLD] 3,949,085
[NUMBER-OF-SHARES-REDEEMED] 1,510,560
[SHARES-REINVESTED] 21,704
[NET-CHANGE-IN-ASSETS] 53,679,311
[ACCUMULATED-NII-PRIOR] 313,723
[ACCUMULATED-GAINS-PRIOR] 889,907
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 466,389
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,658,493
[AVERAGE-NET-ASSETS] 77,308,382
[PER-SHARE-NAV-BEGIN] 16.53
[PER-SHARE-NII] 0.84
[PER-SHARE-GAIN-APPREC] (0.90)
[PER-SHARE-DIVIDEND] 0.98
[PER-SHARE-DISTRIBUTIONS] 0.30
[RETURNS-OF-CAPITAL] 0.03
[PER-SHARE-NAV-END] 15.16
[EXPENSE-RATIO] 1.58
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 7
<NAME> SBS INC FUNDS- GLOBAL BOND CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 107,120,807
[INVESTMENTS-AT-VALUE] 106,934,868
[RECEIVABLES] 71,063,858
[ASSETS-OTHER] 502,177
[OTHER-ITEMS-ASSETS] 39,692,332
[TOTAL-ASSETS] 218,193,235
[PAYABLE-FOR-SECURITIES] 6,277,058
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 89,407,320
[TOTAL-LIABILITIES] 95,684,378
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 129,028,297
[SHARES-COMMON-STOCK] 5,473,974
[SHARES-COMMON-PRIOR] 4,019,102
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (3,516,824)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (3,052,163)
[ACCUM-APPREC-OR-DEPREC] 49,547
[NET-ASSETS] 122,508,857
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 5,265,420
[OTHER-INCOME] 0
[EXPENSES-NET] 1,573,047
[NET-INVESTMENT-INCOME] 3,692,373
[REALIZED-GAINS-CURRENT] (4,444,865)
[APPREC-INCREASE-CURRENT] (656,997)
[NET-CHANGE-FROM-OPS] (1,409,489)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 4,070,938
[DISTRIBUTIONS-OF-GAINS] 1,361,030
<DISTRIBUTION-OTHER> 109,471
[NUMBER-OF-SHARES-SOLD] 2,935,790
[NUMBER-OF-SHARES-REDEEMED] 1,766,032
[SHARES-REINVESTED] 285,115
[NET-CHANGE-IN-ASSETS] 53,679,311
[ACCUMULATED-NII-PRIOR] 313,723
[ACCUMULATED-GAINS-PRIOR] 889,907
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 466,389
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,658,493
[AVERAGE-NET-ASSETS] 77,308,382
[PER-SHARE-NAV-BEGIN] 16.53
[PER-SHARE-NII] 0.25
[PER-SHARE-GAIN-APPREC] (0.41)
[PER-SHARE-DIVIDEND] 0.89
[PER-SHARE-DISTRIBUTIONS] 0.30
[RETURNS-OF-CAPITAL] 0.02
[PER-SHARE-NAV-END] 15.16
[EXPENSE-RATIO] 2.06
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 7
<NAME> SBS INC FUNDS- GLOBAL BOND CLASS D
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 107,120,807
[INVESTMENTS-AT-VALUE] 106,934,868
[RECEIVABLES] 71,063,858
[ASSETS-OTHER] 502,177
[OTHER-ITEMS-ASSETS] 39,692,332
[TOTAL-ASSETS] 218,193,235
[PAYABLE-FOR-SECURITIES] 6,277,058
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 89,407,320
[TOTAL-LIABILITIES] 95,684,378
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 129,028,297
[SHARES-COMMON-STOCK] 1,846
[SHARES-COMMON-PRIOR] 1,381
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (3,516,824)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (3,052,163)
[ACCUM-APPREC-OR-DEPREC] 49,547
[NET-ASSETS] 122,508,857
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 5,265,420
[OTHER-INCOME] 0
[EXPENSES-NET] 1,573,047
[NET-INVESTMENT-INCOME] 3,692,373
[REALIZED-GAINS-CURRENT] (4,444,865)
[APPREC-INCREASE-CURRENT] (656,997)
[NET-CHANGE-FROM-OPS] (1,409,489)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,316
[DISTRIBUTIONS-OF-GAINS] 430
<DISTRIBUTION-OTHER> 36
[NUMBER-OF-SHARES-SOLD] 536
[NUMBER-OF-SHARES-REDEEMED] 182
[SHARES-REINVESTED] 110
[NET-CHANGE-IN-ASSETS] 53,679,311
[ACCUMULATED-NII-PRIOR] 313,723
[ACCUMULATED-GAINS-PRIOR] 889,907
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 466,389
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 1,658,493
[AVERAGE-NET-ASSETS] 77,308,382
[PER-SHARE-NAV-BEGIN] 16.53
[PER-SHARE-NII] 0.29
[PER-SHARE-GAIN-APPREC] (0.45)
[PER-SHARE-DIVIDEND] 0.89
[PER-SHARE-DISTRIBUTIONS] 0.30
[RETURNS-OF-CAPITAL] 0.02
[PER-SHARE-NAV-END] 15.16
[EXPENSE-RATIO] 2.48
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 8
<NAME> SBS INC FUNDS- HIGH INC CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 759,256,286
[INVESTMENTS-AT-VALUE] 728,400,182
[RECEIVABLES] 29,995,200
[ASSETS-OTHER] 16,403
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 758,411,785
[PAYABLE-FOR-SECURITIES] 9,625,851
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,129,063
[TOTAL-LIABILITIES] 13,754,914
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 985,128,754
[SHARES-COMMON-STOCK] 20,045,330
[SHARES-COMMON-PRIOR] 20,184,548
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,710,484)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (206,049,510)
[ACCUM-APPREC-OR-DEPREC] (30,902,239)
[NET-ASSETS] 744,656,871
[DIVIDEND-INCOME] 7,549,893
[INTEREST-INCOME] 70,705,006
[OTHER-INCOME] 0
[EXPENSES-NET] 10,720,928
[NET-INVESTMENT-INCOME] 67,533,971
[REALIZED-GAINS-CURRENT] 23,115,966
[APPREC-INCREASE-CURRENT] (78,041,218)
[NET-CHANGE-FROM-OPS] 12,608,719
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 22,306,678
[DISTRIBUTIONS-OF-GAINS] 0
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 4,325,503
[NUMBER-OF-SHARES-REDEEMED] 5,572,672
[SHARES-REINVESTED] 1,107,951
[NET-CHANGE-IN-ASSETS] 27,535,285
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (1,015,948)
[OVERDIST-NET-GAINS-PRIOR] (282,979,438)
[GROSS-ADVISORY-FEES] 3,771,643
[INTEREST-EXPENSE] 1,963
[GROSS-EXPENSE] 10,720,928
[AVERAGE-NET-ASSETS] 754,328,453
[PER-SHARE-NAV-BEGIN] 12.01
[PER-SHARE-NII] 1.08
[PER-SHARE-GAIN-APPREC] (0.81)
[PER-SHARE-DIVIDEND] 1.12
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 11.16
[EXPENSE-RATIO] 1.11
[AVG-DEBT-OUTSTANDING] 55342
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 8
<NAME> SBS INC FUNDS- HIGH INC CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 759,256,286
[INVESTMENTS-AT-VALUE] 728,400,182
[RECEIVABLES] 29,995,200
[ASSETS-OTHER] 16,403
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 758,411,785
[PAYABLE-FOR-SECURITIES] 9,625,851
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,129,063
[TOTAL-LIABILITIES] 13,754,914
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 985,128,754
[SHARES-COMMON-STOCK] 45,660,599
[SHARES-COMMON-PRIOR] 37,365,166
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,710,484)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (206,049,510)
[ACCUM-APPREC-OR-DEPREC] (30,902,239)
[NET-ASSETS] 744,656,871
[DIVIDEND-INCOME] 7,549,893
[INTEREST-INCOME] 70,705,006
[OTHER-INCOME] 0
[EXPENSES-NET] 10,720,928
[NET-INVESTMENT-INCOME] 67,533,971
[REALIZED-GAINS-CURRENT] 23,115,966
[APPREC-INCREASE-CURRENT] (78,041,218)
[NET-CHANGE-FROM-OPS] 12,608,719
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 44,390,584
[DISTRIBUTIONS-OF-GAINS] 0
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 16,441,359
[NUMBER-OF-SHARES-REDEEMED] 10,131,679
[SHARES-REINVESTED] 1,985,753
[NET-CHANGE-IN-ASSETS] 27,535,285
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (1,015,948)
[OVERDIST-NET-GAINS-PRIOR] (282,979,438)
[GROSS-ADVISORY-FEES] 3,771,643
[INTEREST-EXPENSE] 1,963
[GROSS-EXPENSE] 10,720,928
[AVERAGE-NET-ASSETS] 754,328,453
[PER-SHARE-NAV-BEGIN] 12.01
[PER-SHARE-NII] 1.02
[PER-SHARE-GAIN-APPREC] (0.81)
[PER-SHARE-DIVIDEND] 1.06
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 11.16
[EXPENSE-RATIO] 1.60
[AVG-DEBT-OUTSTANDING] 55342
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 8
<NAME> SBS INC FUNDS- HIGH INC CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 759,256,286
[INVESTMENTS-AT-VALUE] 728,400,182
[RECEIVABLES] 29,995,200
[ASSETS-OTHER] 16,403
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 758,411,785
[PAYABLE-FOR-SECURITIES] 9,625,851
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,129,063
[TOTAL-LIABILITIES] 13,754,914
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 985,128,754
[SHARES-COMMON-STOCK] 1,018,864
[SHARES-COMMON-PRIOR] 2,174,503
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,710,484)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (206,049,510)
[ACCUM-APPREC-OR-DEPREC] (30,902,239)
[NET-ASSETS] 744,656,871
[DIVIDEND-INCOME] 7,549,893
[INTEREST-INCOME] 70,705,006
[OTHER-INCOME] 0
[EXPENSES-NET] 10,720,928
[NET-INVESTMENT-INCOME] 67,533,971
[REALIZED-GAINS-CURRENT] 23,115,966
[APPREC-INCREASE-CURRENT] (78,041,218)
[NET-CHANGE-FROM-OPS] 12,608,719
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 2,076,679
[DISTRIBUTIONS-OF-GAINS] 0
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 358,636
[NUMBER-OF-SHARES-REDEEMED] 1,688,775
[SHARES-REINVESTED] 174,500
[NET-CHANGE-IN-ASSETS] 27,535,285
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (1,015,948)
[OVERDIST-NET-GAINS-PRIOR] (282,979,438)
[GROSS-ADVISORY-FEES] 3,771,643
[INTEREST-EXPENSE] 1,963
[GROSS-EXPENSE] 10,720,928
[AVERAGE-NET-ASSETS] 754,328,453
[PER-SHARE-NAV-BEGIN] 12.01
[PER-SHARE-NII] 1.10
[PER-SHARE-GAIN-APPREC] (0.80)
[PER-SHARE-DIVIDEND] 1.15
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 11.16
[EXPENSE-RATIO] 0.77
[AVG-DEBT-OUTSTANDING] 55342
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 8
<NAME> SBS INC FUNDS- HIGH INC CLASS D
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 759,256,286
[INVESTMENTS-AT-VALUE] 728,400,182
[RECEIVABLES] 29,995,200
[ASSETS-OTHER] 16,403
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 758,411,785
[PAYABLE-FOR-SECURITIES] 9,625,851
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 4,129,063
[TOTAL-LIABILITIES] 13,754,914
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 985,128,754
[SHARES-COMMON-STOCK] 1
[SHARES-COMMON-PRIOR] 1
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,710,484)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (206,049,510)
[ACCUM-APPREC-OR-DEPREC] (30,902,239)
[NET-ASSETS] 744,656,871
[DIVIDEND-INCOME] 7,549,893
[INTEREST-INCOME] 70,705,006
[OTHER-INCOME] 0
[EXPENSES-NET] 10,720,928
[NET-INVESTMENT-INCOME] 67,533,971
[REALIZED-GAINS-CURRENT] 23,115,966
[APPREC-INCREASE-CURRENT] (78,041,218)
[NET-CHANGE-FROM-OPS] 12,608,719
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 27,535,285
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (1,015,948)
[OVERDIST-NET-GAINS-PRIOR] (282,979,438)
[GROSS-ADVISORY-FEES] 3,771,643
[INTEREST-EXPENSE] 1,963
[GROSS-EXPENSE] 10,720,928
[AVERAGE-NET-ASSETS] 754,328,453
[PER-SHARE-NAV-BEGIN] 12.01
[PER-SHARE-NII] 0.00
[PER-SHARE-GAIN-APPREC] 0.00
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] 0.00
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 11.16
[EXPENSE-RATIO] 0.00
[AVG-DEBT-OUTSTANDING] 55342
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 9
<NAME> SBS INC FUNDS - UTILITY - CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 1,921,630,260
[INVESTMENTS-AT-VALUE] 1,839,730,220
[RECEIVABLES] 57,490,225
[ASSETS-OTHER] 1,088
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,897,221,533
[PAYABLE-FOR-SECURITIES] 12,741,149
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 7,210,826
[TOTAL-LIABILITIES] 19,951,975
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,950,903,316
[SHARES-COMMON-STOCK] 3,122,957
[SHARES-COMMON-PRIOR] 3,372,614
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,665,596)
[ACCUMULATED-NET-GAINS] 10,931,878
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (81,900,040)
[NET-ASSETS] 1,877,269,558
[DIVIDEND-INCOME] 77,986,717
[INTEREST-INCOME] 81,974,644
[OTHER-INCOME] 0
[EXPENSES-NET] 36,848,586
[NET-INVESTMENT-INCOME] 123,112,775
[REALIZED-GAINS-CURRENT] 51,444,413
[APPREC-INCREASE-CURRENT] (410,755,069)
[NET-CHANGE-FROM-OPS] (236,197,881)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 3,628,063
[DISTRIBUTIONS-OF-GAINS] 1,710,735
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 1,190,478
[NUMBER-OF-SHARES-REDEEMED] 1,703,880
[SHARES-REINVESTED] 263,745
[NET-CHANGE-IN-ASSETS] (964,947,784)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 43,720,434
[OVERDISTRIB-NII-PRIOR] (2,210,945)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 10,896,883
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 36,848,586
[AVERAGE-NET-ASSETS] 2,421,529,408
[PER-SHARE-NAV-BEGIN] 15.97
[PER-SHARE-NII] 0.56
[PER-SHARE-GAIN-APPREC] (1.92)
[PER-SHARE-DIVIDEND] 0.83
[PER-SHARE-DISTRIBUTIONS] 0.50
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 13.28
[EXPENSE-RATIO] 1.07
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 9
<NAME> SBS INC FUNDS - UTILITY - CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 1,921,630,260
[INVESTMENTS-AT-VALUE] 1,839,730,220
[RECEIVABLES] 57,490,225
[ASSETS-OTHER] 1,088
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,897,221,533
[PAYABLE-FOR-SECURITIES] 12,741,149
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 7,210,826
[TOTAL-LIABILITIES] 19,951,975
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,950,903,316
[SHARES-COMMON-STOCK] 137,282,790
[SHARES-COMMON-PRIOR] 173,215,141
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,665,596)
[ACCUMULATED-NET-GAINS] 10,931,878
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (81,900,040)
[NET-ASSETS] 1,877,269,558
[DIVIDEND-INCOME] 77,986,717
[INTEREST-INCOME] 81,974,644
[OTHER-INCOME] 0
[EXPENSES-NET] 36,848,586
[NET-INVESTMENT-INCOME] 123,112,775
[REALIZED-GAINS-CURRENT] 51,444,413
[APPREC-INCREASE-CURRENT] (410,755,069)
[NET-CHANGE-FROM-OPS] (236,197,881)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 120,233,024
[DISTRIBUTIONS-OF-GAINS] 80,281,991
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 18,848,373
[NUMBER-OF-SHARES-REDEEMED] 65,768,788
[SHARES-REINVESTED] 10,988,064
[NET-CHANGE-IN-ASSETS] (964,947,784)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 43,720,434
[OVERDISTRIB-NII-PRIOR] (2,210,945)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 10,896,883
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 36,848,586
[AVERAGE-NET-ASSETS] 2,421,529,408
[PER-SHARE-NAV-BEGIN] 15.97
[PER-SHARE-NII] 0.75
[PER-SHARE-GAIN-APPREC] (2.19)
[PER-SHARE-DIVIDEND] 0.75
[PER-SHARE-DISTRIBUTIONS] 0.50
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 13.28
[EXPENSE-RATIO] 1.54
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 9
<NAME> SBS INC FUNDS - UTILITY - CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 1,921,630,260
[INVESTMENTS-AT-VALUE] 1,839,730,220
[RECEIVABLES] 57,490,225
[ASSETS-OTHER] 1,088
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,897,221,533
[PAYABLE-FOR-SECURITIES] 12,741,149
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 7,210,826
[TOTAL-LIABILITIES] 19,951,975
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,950,903,316
[SHARES-COMMON-STOCK] 856,647
[SHARES-COMMON-PRIOR] 1,393,226
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,665,596)
[ACCUMULATED-NET-GAINS] 10,931,878
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (81,900,040)
[NET-ASSETS] 1,877,269,558
[DIVIDEND-INCOME] 77,986,717
[INTEREST-INCOME] 81,974,644
[OTHER-INCOME] 0
[EXPENSES-NET] 36,848,586
[NET-INVESTMENT-INCOME] 123,112,775
[REALIZED-GAINS-CURRENT] 51,444,413
[APPREC-INCREASE-CURRENT] (410,755,069)
[NET-CHANGE-FROM-OPS] (236,197,881)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,147,887
[DISTRIBUTIONS-OF-GAINS] 709,605
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 493,082
[NUMBER-OF-SHARES-REDEEMED] 1,153,635
[SHARES-REINVESTED] 123,974
[NET-CHANGE-IN-ASSETS] (964,947,784)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 43,720,434
[OVERDISTRIB-NII-PRIOR] (2,210,945)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 10,896,883
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 36,848,586
[AVERAGE-NET-ASSETS] 2,421,529,408
[PER-SHARE-NAV-BEGIN] 15.97
[PER-SHARE-NII] 0.89
[PER-SHARE-GAIN-APPREC] (2.21)
[PER-SHARE-DIVIDEND] 0.87
[PER-SHARE-DISTRIBUTIONS] 0.50
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 13.28
[EXPENSE-RATIO] 0.69
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 9
<NAME> SBS INC FUNDS - UTILITY - CLASS D
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 1,921,630,260
[INVESTMENTS-AT-VALUE] 1,839,730,220
[RECEIVABLES] 57,490,225
[ASSETS-OTHER] 1,088
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1,897,221,533
[PAYABLE-FOR-SECURITIES] 12,741,149
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 7,210,826
[TOTAL-LIABILITIES] 19,951,975
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1,950,903,316
[SHARES-COMMON-STOCK] 142,614
[SHARES-COMMON-PRIOR] 15,784
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (2,665,596)
[ACCUMULATED-NET-GAINS] 10,931,878
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (81,900,040)
[NET-ASSETS] 1,877,269,558
[DIVIDEND-INCOME] 77,986,717
[INTEREST-INCOME] 81,974,644
[OTHER-INCOME] 0
[EXPENSES-NET] 36,848,586
[NET-INVESTMENT-INCOME] 123,112,775
[REALIZED-GAINS-CURRENT] 51,444,413
[APPREC-INCREASE-CURRENT] (410,755,069)
[NET-CHANGE-FROM-OPS] (236,197,881)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 56,784
[DISTRIBUTIONS-OF-GAINS] 32,306
<DISTRIBUTION-OTHER> 0
[NUMBER-OF-SHARES-SOLD] 142,046
[NUMBER-OF-SHARES-REDEEMED] 21,427
[SHARES-REINVESTED] 6,211
[NET-CHANGE-IN-ASSETS] (964,947,784)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 43,720,434
[OVERDISTRIB-NII-PRIOR] (2,210,945)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 10,896,883
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 36,848,586
[AVERAGE-NET-ASSETS] 2,421,529,408
[PER-SHARE-NAV-BEGIN] 15.97
[PER-SHARE-NII] 0.73
[PER-SHARE-GAIN-APPREC] (2.17)
[PER-SHARE-DIVIDEND] 0.75
[PER-SHARE-DISTRIBUTIONS] 0.50
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 13.28
[EXPENSE-RATIO] 1.48
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 10
<NAME> SBS INC FUNDS - DIV STRATEGIC INC - CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 2,756,832,117
[INVESTMENTS-AT-VALUE] 2,645,105,779
[RECEIVABLES] 359,699,196
[ASSETS-OTHER] 121,188,804
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 3,125,993,779
[PAYABLE-FOR-SECURITIES] 169,737,656
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 398,698,457
[TOTAL-LIABILITIES] 568,436,113
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,713,472,132
[SHARES-COMMON-STOCK] 9,791,914
[SHARES-COMMON-PRIOR] 5,749,872
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (40,386,368)
[ACCUMULATED-NET-GAINS] (4,057,496)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (111,470,602)
[NET-ASSETS] 2,557,557,666
[DIVIDEND-INCOME] 6,534,953
[INTEREST-INCOME] 212,999,145
[OTHER-INCOME] 0
[EXPENSES-NET] 38,906,267
[NET-INVESTMENT-INCOME] 180,627,831
[REALIZED-GAINS-CURRENT] (37,948,143)
[APPREC-INCREASE-CURRENT] (133,930,059)
[NET-CHANGE-FROM-OPS] 8,749,629
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 5,203,185
[DISTRIBUTIONS-OF-GAINS] 764,707
<DISTRIBUTION-OTHER> 301,769
[NUMBER-OF-SHARES-SOLD] 5,922,523
[NUMBER-OF-SHARES-REDEEMED] 2,408,094
[SHARES-REINVESTED] 527,613
[NET-CHANGE-IN-ASSETS] 392,320,318
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (3,039,884)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 11,265,245
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 39,376,515
[AVERAGE-NET-ASSETS] 2,503,387,731
[PER-SHARE-NAV-BEGIN] 8.41
[PER-SHARE-NII] 0.63
[PER-SHARE-GAIN-APPREC] (0.52)
[PER-SHARE-DIVIDEND] 0.62
[PER-SHARE-DISTRIBUTIONS] 0.10
[RETURNS-OF-CAPITAL] 0.04
[PER-SHARE-NAV-END] 7.76
[EXPENSE-RATIO] 1.10
[AVG-DEBT-OUTSTANDING] 4384
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 10
<NAME> SBS INC FUNDS - DIV STRATEGIC INC - CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 2,756,832,117
[INVESTMENTS-AT-VALUE] 2,645,105,779
[RECEIVABLES] 359,699,196
[ASSETS-OTHER] 121,188,804
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 3,125,993,779
[PAYABLE-FOR-SECURITIES] 169,737,656
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 398,698,457
[TOTAL-LIABILITIES] 568,436,113
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,713,472,132
[SHARES-COMMON-STOCK] 318,021,578
[SHARES-COMMON-PRIOR] 250,434,380
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (40,386,368)
[ACCUMULATED-NET-GAINS] (4,057,496)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (111,470,602)
[NET-ASSETS] 2,557,557,666
[DIVIDEND-INCOME] 6,534,953
[INTEREST-INCOME] 212,999,145
[OTHER-INCOME] 0
[EXPENSES-NET] 38,906,267
[NET-INVESTMENT-INCOME] 180,627,831
[REALIZED-GAINS-CURRENT] (37,948,143)
[APPREC-INCREASE-CURRENT] (133,930,059)
[NET-CHANGE-FROM-OPS] 8,749,629
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 174,745,242
[DISTRIBUTIONS-OF-GAINS] 27,997,349
<DISTRIBUTION-OTHER> 10,134,711
[NUMBER-OF-SHARES-SOLD] 98,298,288
[NUMBER-OF-SHARES-REDEEMED] 46,268,945
[SHARES-REINVESTED] 15,557,855
[NET-CHANGE-IN-ASSETS] 392,320,318
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (3,039,884)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 11,265,245
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 39,376,515
[AVERAGE-NET-ASSETS] 2,503,387,731
[PER-SHARE-NAV-BEGIN] 8.41
[PER-SHARE-NII] 0.59
[PER-SHARE-GAIN-APPREC] (0.51)
[PER-SHARE-DIVIDEND] 0.60
[PER-SHARE-DISTRIBUTIONS] 0.10
[RETURNS-OF-CAPITAL] 0.03
[PER-SHARE-NAV-END] 7.76
[EXPENSE-RATIO] 1.57
[AVG-DEBT-OUTSTANDING] 4384
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 10
<NAME> SBS INC FUNDS - DIV STRATEGIC INC - CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 2,756,832,117
[INVESTMENTS-AT-VALUE] 2,645,105,779
[RECEIVABLES] 359,699,196
[ASSETS-OTHER] 121,188,804
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 3,125,993,779
[PAYABLE-FOR-SECURITIES] 169,737,656
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 398,698,457
[TOTAL-LIABILITIES] 568,436,113
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,713,472,132
[SHARES-COMMON-STOCK] 1,488,000
[SHARES-COMMON-PRIOR] 1,404,147
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (40,386,368)
[ACCUMULATED-NET-GAINS] (4,057,496)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (111,470,602)
[NET-ASSETS] 2,557,557,666
[DIVIDEND-INCOME] 6,534,953
[INTEREST-INCOME] 212,999,145
[OTHER-INCOME] 0
[EXPENSES-NET] 38,906,267
[NET-INVESTMENT-INCOME] 180,627,831
[REALIZED-GAINS-CURRENT] (37,948,143)
[APPREC-INCREASE-CURRENT] (133,930,059)
[NET-CHANGE-FROM-OPS] 8,749,629
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 1,059,104
[DISTRIBUTIONS-OF-GAINS] 162,730
<DISTRIBUTION-OTHER> 61,425
[NUMBER-OF-SHARES-SOLD] 958,456
[NUMBER-OF-SHARES-REDEEMED] 1,028,793
[SHARES-REINVESTED] 154,190
[NET-CHANGE-IN-ASSETS] 392,320,318
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (3,039,884)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 11,265,245
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 39,376,515
[AVERAGE-NET-ASSETS] 2,503,387,731
[PER-SHARE-NAV-BEGIN] 8.41
[PER-SHARE-NII] 0.68
[PER-SHARE-GAIN-APPREC] (0.54)
[PER-SHARE-DIVIDEND] 0.65
[PER-SHARE-DISTRIBUTIONS] 0.10
[RETURNS-OF-CAPITAL] 0.01
[PER-SHARE-NAV-END] 7.76
[EXPENSE-RATIO] 0.75
[AVG-DEBT-OUTSTANDING] 4384
[AVG-DEBT-PER-SHARE] 0
<ARTICLE> 6
<SERIES>
[NUMBER] 10
<NAME> SBS INC FUNDS - DIV STRATEGIC INC - CLASS D
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JULY-31-1994
<PERIOD-END> JULY-31-1994
[INVESTMENTS-AT-COST] 2,756,832,117
[INVESTMENTS-AT-VALUE] 2,645,105,779
[RECEIVABLES] 359,699,196
[ASSETS-OTHER] 121,188,804
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 3,125,993,779
[PAYABLE-FOR-SECURITIES] 169,737,656
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 398,698,457
[TOTAL-LIABILITIES] 568,436,113
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 2,713,472,132
[SHARES-COMMON-STOCK] 137,173
[SHARES-COMMON-PRIOR] 1,347
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (40,386,368)
[ACCUMULATED-NET-GAINS] (4,057,496)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (111,470,602)
[NET-ASSETS] 2,557,557,666
[DIVIDEND-INCOME] 6,534,953
[INTEREST-INCOME] 212,999,145
[OTHER-INCOME] 0
[EXPENSES-NET] 38,906,267
[NET-INVESTMENT-INCOME] 180,627,831
[REALIZED-GAINS-CURRENT] (37,948,143)
[APPREC-INCREASE-CURRENT] (133,930,059)
[NET-CHANGE-FROM-OPS] 8,749,629
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 28,738
[DISTRIBUTIONS-OF-GAINS] 2,015
<DISTRIBUTION-OTHER> 1,667
[NUMBER-OF-SHARES-SOLD] 141,778
[NUMBER-OF-SHARES-REDEEMED] 9,930
[SHARES-REINVESTED] 3,978
[NET-CHANGE-IN-ASSETS] 392,320,318
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] (3,039,884)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 11,265,245
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 39,376,515
[AVERAGE-NET-ASSETS] 2,503,387,731
[PER-SHARE-NAV-BEGIN] 8.41
[PER-SHARE-NII] 0.55
[PER-SHARE-GAIN-APPREC] (0.47)
[PER-SHARE-DIVIDEND] 0.60
[PER-SHARE-DISTRIBUTIONS] 0.10
[RETURNS-OF-CAPITAL] 0.03
[PER-SHARE-NAV-END] 7.76
[EXPENSE-RATIO] 1.57
[AVG-DEBT-OUTSTANDING] 4384
[AVG-DEBT-PER-SHARE] 0
</TABLE>
