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<PAGE> PAGE 2
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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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072 Y000400 0
072 Z000400 7247
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072DD010400 7247
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073 B000400 0.0000
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074 A000400 57
074 B000400 18224
074 C000400 252245
074 D000400 0
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074 J000400 799
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074 M000400 0
074 N000400 271678
074 O000400 0
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074 R020400 0
074 R030400 0
074 R040400 11335
074 S000400 0
074 T000400 260308
074 U010400 260309
074 U020400 0
074 V010400 1.00
074 V020400 0.00
074 W000400 1.0000
074 X000400 38
074 Y000400 0
075 A000400 281401
<PAGE> PAGE 22
075 B000400 0
076 000400 0.00
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.200
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
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048 E020500 0.000
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048 G010500 0
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048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
062 A000500 N
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
<PAGE> PAGE 23
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 0
072 B000500 0
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 0
072 G000500 0
072 H000500 0
074 A000500 0
074 B000500 0
074 C000500 0
<PAGE> PAGE 24
074 D000500 0
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074 H000500 0
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074 U020500 0
074 V010500 0.00
074 V020500 0.00
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074 X000500 0
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045 000600 Y
046 000600 N
047 000600 Y
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048 A010600 0
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048 H010600 0
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048 I020600 0.000
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048 J020600 0.000
<PAGE> PAGE 25
048 K010600 0
048 K020600 0.000
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 Y
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 N
070 K020600 N
070 L010600 Y
070 L020600 N
070 M010600 N
070 M020600 N
<PAGE> PAGE 26
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 0
071 B000600 0
071 C000600 0
071 D000600 0
072 A000600 0
072 B000600 0
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074 F000600 0
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<PAGE> PAGE 27
074 Y000600 0
025 D000701 0
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028 A010700 56399
028 A020700 35
028 A030700 0
028 A040700 32170
028 B010700 39884
028 B020700 45
028 B030700 0
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028 D030700 0
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028 E030700 0
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028 F010700 19072
028 F020700 32
028 F030700 0
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028 G020700 238
028 G030700 0
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028 H000700 0
030 A000700 0
030 B000700 0.00
030 C000700 0.00
045 000700 Y
046 000700 N
047 000700 Y
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048 A010700 0
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048 B010700 0
048 B020700 0.000
048 C010700 0
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<PAGE> PAGE 28
048 D010700 0
048 D020700 0.000
048 E010700 0
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048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 N
054 A000700 Y
054 B000700 Y
054 C000700 N
054 D000700 N
054 E000700 N
054 F000700 N
054 G000700 Y
054 H000700 Y
054 I000700 N
054 J000700 Y
054 K000700 N
054 L000700 N
054 M000700 Y
054 N000700 N
054 O000700 N
062 A000700 Y
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 99.9
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
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062 L000700 0.1
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<PAGE> PAGE 29
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 32
063 B000700 0.0
064 A000700 Y
064 B000700 N
066 A000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 Y
070 A010700 Y
070 A020700 N
070 B010700 N
070 B020700 N
070 C010700 N
070 C020700 N
070 D010700 N
070 D020700 N
070 E010700 N
070 E020700 N
070 F010700 N
070 F020700 N
070 G010700 N
070 G020700 N
070 H010700 N
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 N
070 J020700 N
070 K010700 N
070 K020700 N
070 L010700 N
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 N
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 0
071 B000700 0
071 C000700 0
<PAGE> PAGE 30
071 D000700 0
072 A000700 6
072 B000700 1734
072 C000700 0
072 D000700 0
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072 G000700 0
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072 I000700 24
072 J000700 32
072 K000700 0
072 L000700 2
072 M000700 5
072 N000700 2
072 O000700 0
072 P000700 0
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072 X000700 155
072 Y000700 0
072 Z000700 1579
072AA000700 0
072BB000700 0
072CC010700 0
072CC020700 0
072DD010700 1579
072DD020700 0
072EE000700 0
073 A010700 0.0160
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 1350
074 B000700 0
074 C000700 87719
074 D000700 0
074 E000700 0
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074 H000700 0
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074 J000700 150
074 K000700 0
074 L000700 836
074 M000700 0
<PAGE> PAGE 31
074 N000700 90055
074 O000700 2011
074 P000700 11
074 Q000700 0
074 R010700 0
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074 R040700 267
074 S000700 0
074 T000700 87766
074 U010700 87766
074 U020700 0
074 V010700 1.00
074 V020700 0.00
074 W000700 1.0000
074 X000700 20
074 Y000700 0
075 A000700 99417
075 B000700 0
076 000700 0.00
045 000800 Y
046 000800 N
047 000800 Y
048 000800 0.200
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048 I010800 0
048 I020800 0.000
048 J010800 0
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048 K010800 0
048 K020800 0.000
062 A000800 N
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
<PAGE> PAGE 32
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
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062 R000800 0.0
066 A000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 Y
070 A010800 Y
070 A020800 N
070 B010800 N
070 B020800 N
070 C010800 N
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 N
070 J020800 N
070 K010800 N
070 K020800 N
070 L010800 N
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 Y
070 P020800 N
070 Q010800 N
<PAGE> PAGE 33
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 0
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025 D000901 0
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<PAGE> PAGE 34
025 D000907 0
025 D000908 0
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028 D010900 14047
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028 G020900 0
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030 C000900 0.00
045 000900 Y
048 000900 0.900
048 A010900 0
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048 B020900 0.000
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048 F020900 0.000
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<PAGE> PAGE 35
048 H020900 0.000
048 I010900 0
048 I020900 0.000
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048 J020900 0.000
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048 K020900 0.000
049 000900 N
050 000900 N
051 000900 N
052 000900 N
053 A000900 N
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054 C000900 N
054 D000900 N
054 E000900 N
054 F000900 N
054 G000900 Y
054 H000900 Y
054 I000900 N
054 J000900 Y
054 K000900 N
054 L000900 N
054 M000900 Y
054 N000900 N
054 O000900 N
062 A000900 Y
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 0.0
062 F000900 0.0
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062 H000900 0.0
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064 A000900 Y
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066 B000900 N
<PAGE> PAGE 36
066 C000900 Y
066 D000900 N
066 E000900 N
066 F000900 N
066 G000900 N
067 000900 N
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070 A020900 Y
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070 D010900 Y
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 Y
070 M020900 Y
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070 N020900 N
070 O010900 N
070 O020900 N
070 P010900 Y
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070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
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<PAGE> PAGE 37
072 C000900 70
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074 C000900 1208
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074 E000900 317
074 F000900 14336
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074 M000900 36
074 N000900 16831
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<PAGE> PAGE 38
074 Q000900 0
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076 000900 0.00
SIGNATURE THOMAS F. MCDONOUGH
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Institutional Fund, Inc. mid-year Report for the six month period ended June 30,
1996 and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>1
<NAME> Institutional Federal Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-1-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 15,327,043
<INVESTMENTS-AT-VALUE> 15,327,043
<RECEIVABLES> 0
<ASSETS-OTHER> 103,213
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 15,430,256
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 123,285
<TOTAL-LIABILITIES> 123,285
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 15,306,971
<SHARES-COMMON-STOCK> 15,306,971
<SHARES-COMMON-PRIOR> 16,420,283
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 15,306,971
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 478,893
<OTHER-INCOME> 0
<EXPENSES-NET> 52,788
<NET-INVESTMENT-INCOME> 426,105
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> (426,105)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 426,105
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 39,720,954
<NUMBER-OF-SHARES-REDEEMED> (41,282,043)
<SHARES-REINVESTED> 447,777
<NET-CHANGE-IN-ASSETS> (1,113,312)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14,120
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 65,296
<AVERAGE-NET-ASSETS> 18,931,845
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.022
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.022)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.56
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from the Scudder
Institutional Fund, Inc. mid-year Report for the
six month period ended June 30, 1996 and is
qualified in its entirety by reference to such
financial statements.
</LEGEND>
<SERIES>
<NUMBER>2
<NAME> Institutional Government Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-1-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 49,429,882
<INVESTMENTS-AT-VALUE> 49,429,882
<RECEIVABLES> 346,250
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 94,203
<TOTAL-ASSETS> 49,870,335
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 348,457
<TOTAL-LIABILITIES> 348,457
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49,521,878
<SHARES-COMMON-STOCK> 49,521,878
<SHARES-COMMON-PRIOR> 79,918,361
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 49,521,878
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,644,779
<OTHER-INCOME> 0
<EXPENSES-NET> 116,949
<NET-INVESTMENT-INCOME> 1,527,830
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> (1,527,830)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,527,830
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 101,339,339
<NUMBER-OF-SHARES-REDEEMED> (132,108,463)
<SHARES-REINVESTED> 372,641
<NET-CHANGE-IN-ASSETS> (30,396,483)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 45,795
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 116,949
<AVERAGE-NET-ASSETS> 61,429,447
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.025
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.025)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Scudder
Institutional Fund, Inc. mid-year Report for the six month period ended June 30,
1996 and is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER>4
<NAME> Institutional Cash Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-1-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 270,469,360
<INVESTMENTS-AT-VALUE> 270,469,360
<RECEIVABLES> 1,152,522
<ASSETS-OTHER> 57,326
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 271,679,208
<PAYABLE-FOR-SECURITIES> 9,990,170
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,380,033
<TOTAL-LIABILITIES> 11,370,203
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 260,309,005
<SHARES-COMMON-STOCK> 260,309,005
<SHARES-COMMON-PRIOR> 249,428,129
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 260,309,005
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7,557,730
<OTHER-INCOME> 0
<EXPENSES-NET> 310,223
<NET-INVESTMENT-INCOME> 7,247,507
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 7,247,507
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,247,507)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 380,274,345
<NUMBER-OF-SHARES-REDEEMED> (371,710,153)
<SHARES-REINVESTED> 2,316,684
<NET-CHANGE-IN-ASSETS> 10,880,876
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 209,898
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 310,223
<AVERAGE-NET-ASSETS> 281,401,218
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.026
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.026)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.22
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from the Scudder
Institutional Fund, Inc. mid-year Report for the
six month period ended June 30, 1996 and is
qualified in its entirety by reference to such
financial statements.
</LEGEND>
<SERIES>
<NUMBER>7
<NAME> Institutional Tax Free Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-1-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 87,718,766
<INVESTMENTS-AT-VALUE> 87,718,766
<RECEIVABLES> 985,708
<ASSETS-OTHER> 1,350,012
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 90,054,486
<PAYABLE-FOR-SECURITIES> 2,011,480
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 277,602
<TOTAL-LIABILITIES> 2,289,082
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 87,765,404
<SHARES-COMMON-STOCK> 87,765,404
<SHARES-COMMON-PRIOR> 79,049,313
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 87,765,404
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,733,595
<OTHER-INCOME> 0
<EXPENSES-NET> 154,671
<NET-INVESTMENT-INCOME> 1,578,924
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1,578,924
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,578,924)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 196,620,966
<NUMBER-OF-SHARES-REDEEMED> (188,142,934)
<SHARES-REINVESTED> 238,059
<NET-CHANGE-IN-ASSETS> 8,716,091
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 74,177
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 154,671
<AVERAGE-NET-ASSETS> 99,416,629
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.016
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (0.016)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.31
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Institutional International Equity
Portfolio mid-year Report for the six month period
ended June 30, 1996 and is qualified in its entirety by
reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 9
<NAME> Institutional International Equity Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> APR-3-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 16,465,827
<INVESTMENTS-AT-VALUE> 16,678,590
<RECEIVABLES> 45,620
<ASSETS-OTHER> 107,028
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 16,831,238
<PAYABLE-FOR-SECURITIES> 677,240
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73,077
<TOTAL-LIABILITIES> 750,317
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 15,792,010
<SHARES-COMMON-STOCK> 1,315,555
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 96,930
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (19,819)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 211,800
<NET-ASSETS> 16,080,921
<DIVIDEND-INCOME> 69,663
<INTEREST-INCOME> 57,478
<OTHER-INCOME> 0
<EXPENSES-NET> 30,211
<NET-INVESTMENT-INCOME> 96,930
<REALIZED-GAINS-CURRENT> (19,819)
<APPREC-INCREASE-CURRENT> 211,800
<NET-CHANGE-FROM-OPS> 288,911
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,315,455
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16,079,721
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 28,621
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 127,603
<AVERAGE-NET-ASSETS> 14,551,291
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> 0.15
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.22
<EXPENSE-RATIO> 0.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>