<PAGE> PAGE 1
000 A000000 10/31/95
000 C000000 0000789281
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 FEDERATED INCOME SECURTIES TRUST
001 B000000 811-4577
001 C000000 4122881432
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 FEDERATED SHORT-TERM INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 INTERMEDIATE INCOME FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 FEDERATED MANAGEMENT
008 B00AA01 A
008 C00AA01 801-34610
008 D01AA01 PITTSBURGH
008 D02AA01 PA
008 D03AA01 15222
008 D04AA01 3779
010 A00AA01 FEDERATED ADMINISTRATIVE SERVICES
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
<PAGE> PAGE 2
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 FEDERATED SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15219
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 MORGAN GUARANTY TRUST CO. OF NEW YORK
022 B000001 13-5123346
022 C000001 768035
022 D000001 970
022 A000002 GREENWICH CAPITAL MARKETS, INC.
022 B000002 13-3172275
022 C000002 8254
022 D000002 24373
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003 13617
022 D000003 15313
022 A000004 SMITH BARNEY, INC.
022 B000004 13-1912900
022 C000004 9964
022 D000004 1983
022 A000005 MORGAN STANLEY & CO., INC.
022 B000005 13-2655998
022 C000005 7956
022 D000005 1001
022 A000006 GROSS & COMPANY, INC.
022 C000006 0
022 D000006 7653
<PAGE> PAGE 3
022 A000007 LEHMAN BROTHERS, INC.
022 B000007 13-2518466
022 C000007 3369
022 D000007 3520
022 A000008 KEEFE, BRUYETTE & WOODS, INC.
022 B000008 13-1964616
022 C000008 0
022 D000008 5598
022 A000009 BANK ONE CAPITAL
022 C000009 4993
022 D000009 0
022 A000010 DONALDSON, LUFKIN & JENRETTE SEC. CORP.
022 B000010 13-2741729
022 C000010 4092
022 D000010 0
023 C000000 841845
023 D000000 66271
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 N
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 N
<PAGE> PAGE 4
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 Y
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 25000
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 N
078 000000 N
015 A000101 STATE STREET BANK AND TRUST COMPANY
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02266
015 C040101 8602
015 E010101 X
015 A000102 BANK OF NEW YORK
015 B000102 S
015 C010102 NEW YORK
015 C020102 NY
015 C030102 10006
015 E010102 X
015 A000103 BANKERS TRUST CO.
015 B000103 S
015 C010103 NEW YORK
015 C020103 NY
015 C030103 10015
015 E010103 X
015 A000104 CHEMICAL BANK & TRUST CO.
015 B000104 S
<PAGE> PAGE 5
015 C010104 NEW YORK
015 C020104 NY
015 C030104 10006
015 E010104 X
015 A000105 MARINE MIDLAND BANK
015 B000105 S
015 C010105 NEW YORK
015 C020105 NY
015 C030105 10015
015 E010105 X
015 A000106 MORGAN GUARANTY BANK & TRUST CO.
015 B000106 S
015 C010106 NEW YORK
015 C020106 NY
015 C030106 10015
015 E010106 X
015 A000107 NATIONSBANK OF NORTH CAROLINA
015 B000107 S
015 C010107 CHARLOTTE
015 C020107 NC
015 C030107 28255
015 E010107 X
015 A000108 NATIONSBANC CAPITAL MARKETS, INC.
015 B000108 S
015 C010108 RICHMOND
015 C020108 VA
015 C030108 23261
015 E010108 X
015 A000109 PNC BANK, NA
015 B000109 S
015 C010109 PITTSBURGH
015 C020109 PA
015 C030109 15265
015 E010109 X
015 A000110 SECURITY PACIFIC NATIONAL TRUST CO.
015 B000110 S
015 C010110 NEW YORK
015 C020110 NY
015 C030110 10006
015 E010110 X
024 000100 N
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 4163
028 A020100 215
<PAGE> PAGE 6
028 A030100 0
028 A040100 11421
028 B010100 20344
028 B020100 214
028 B030100 0
028 B040100 12406
028 C010100 7495
028 C020100 217
028 C030100 0
028 C040100 13285
028 D010100 2892
028 D020100 200
028 D030100 0
028 D040100 6983
028 E010100 3362
028 E020100 202
028 E030100 0
028 E040100 14963
028 F010100 1981
028 F020100 0
028 F030100 0
028 F040100 4475
028 G010100 40237
028 G020100 1048
028 G030100 0
028 G040100 63533
028 H000100 0
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 1
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.400
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
<PAGE> PAGE 7
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 5.8
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 3.4
062 O000100 0.0
062 P000100 65.4
062 Q000100 25.2
062 R000100 0.0
063 A000100 0
063 B000100 2.4
064 A000100 N
064 B000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
<PAGE> PAGE 8
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 38767
071 B000100 51125
071 C000100 227108
071 D000100 17
072 A000100 6
072 B000100 8055
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 467
072 G000100 88
072 H000100 0
072 I000100 38
072 J000100 24
072 K000100 0
072 L000100 17
072 M000100 3
072 N000100 12
072 O000100 2
072 P000100 0
072 Q000100 43
072 R000100 10
072 S000100 5
072 T000100 319
072 U000100 0
072 V000100 0
072 W000100 9
072 X000100 1037
072 Y000100 352
072 Z000100 7370
072AA000100 806
072BB000100 1473
<PAGE> PAGE 9
072CC010100 5642
072CC020100 0
072DD010100 6706
072DD020100 664
072EE000100 0
073 A010100 0.2900
073 A020100 0.2800
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 12680
074 C000100 0
074 D000100 206437
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 1706
074 M000100 0
074 N000100 220823
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1356
074 S000100 0
074 T000100 219467
074 U010100 22358
074 U020100 2584
074 V010100 8.80
074 V020100 8.80
074 W000100 0.0000
074 X000100 1564
074 Y000100 0
075 A000100 0
075 B000100 231245
076 000100 0.00
015 A000201 STATE STREET BANK AND TRUST COMPANY
015 B000201 C
015 C010201 BOSTON
015 C020201 MA
015 C030201 02266
015 C040201 8602
015 E010201 X
024 000200 Y
025 A000201 MERRILL LYNCH
<PAGE> PAGE 10
025 C000201 D
025 D000201 1000
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 1134
028 A020200 0
028 A030200 0
028 A040200 699
028 B010200 876
028 B020200 33
028 B030200 0
028 B040200 1056
028 C010200 1661
028 C020200 32
028 C030200 0
028 C040200 860
028 D010200 12182
028 D020200 34
028 D030200 0
028 D040200 2074
028 E010200 4531
028 E020200 34
028 E030200 0
028 E040200 866
028 F010200 10092
028 F020200 32
028 F030200 0
028 F040200 1195
028 G010200 30476
028 G020200 165
028 G030200 0
028 G040200 6750
028 H000200 0
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 0
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
<PAGE> PAGE 11
048 000200 0.500
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 10.8
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 6.4
062 N000200 10.2
062 O000200 0.0
062 P000200 66.1
062 Q000200 4.6
062 R000200 0.0
063 A000200 0
063 B000200 13.8
064 A000200 Y
064 B000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
<PAGE> PAGE 12
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 Y
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 35043
071 B000200 15699
071 C000200 38984
071 D000200 40
072 A000200 6
072 B000200 1507
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 103
072 G000200 78
072 H000200 0
072 I000200 18
072 J000200 6
072 K000200 0
072 L000200 12
072 M000200 2
072 N000200 13
072 O000200 0
072 P000200 0
072 Q000200 29
<PAGE> PAGE 13
072 R000200 8
072 S000200 1
072 T000200 52
072 U000200 0
072 V000200 0
072 W000200 6
072 X000200 328
072 Y000200 213
072 Z000200 1392
072AA000200 465
072BB000200 39
072CC010200 1657
072CC020200 0
072DD010200 1382
072DD020200 10
072EE000200 0
073 A010200 0.3300
073 A020200 0.3200
073 B000200 0.0000
073 C000200 0.0000
074 A000200 2101
074 B000200 6360
074 C000200 0
074 D000200 51342
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 1264
074 M000200 23
074 N000200 61091
074 O000200 1989
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 344
074 S000200 0
074 T000200 58758
074 U010200 5804
074 U020200 38
074 V010200 10.06
074 V020200 10.06
074 W000200 0.0000
074 X000200 439
074 Y000200 0
075 A000200 0
<PAGE> PAGE 14
075 B000200 41411
076 000200 0.00
SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNCIL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> Federated Income Securities Trust
Federated Short-Term Income Fund
Institutional Shares
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Apr-30-1996
<PERIOD-END> Oct-31-1995
<INVESTMENTS-AT-COST> 219,631,139
<INVESTMENTS-AT-VALUE> 219,116,702
<RECEIVABLES> 1,706,356
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 220,823,058
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,356,020
<TOTAL-LIABILITIES> 1,356,020
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 246,432,351
<SHARES-COMMON-STOCK> 22,357,870
<SHARES-COMMON-PRIOR> 25,504,633
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (26,450,876)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (514,437)
<NET-ASSETS> 196,727,598
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8,055,429
<OTHER-INCOME> 0
<EXPENSES-NET> 685,161
<NET-INVESTMENT-INCOME> 7,370,268
<REALIZED-GAINS-CURRENT> (666,885)
<APPREC-INCREASE-CURRENT> 5,641,953
<NET-CHANGE-FROM-OPS> 12,345,336
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,706,335
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,247,951
<NUMBER-OF-SHARES-REDEEMED> 6,481,534
<SHARES-REINVESTED> 86,820
<NET-CHANGE-IN-ASSETS> (17,272,748)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (25,783,991)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 466,978
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,037,259
<AVERAGE-NET-ASSETS> 231,244,830
<PER-SHARE-NAV-BEGIN> 8.610
<PER-SHARE-NII> 0.290
<PER-SHARE-GAIN-APPREC> 0.190
<PER-SHARE-DIVIDEND> 0.290
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.800
<EXPENSE-RATIO> 0.56
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> Federated Income Securities Trust
Federated Short-Term Income Fund
Institutional Service Shares
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Apr-30-1996
<PERIOD-END> Oct-31-1995
<INVESTMENTS-AT-COST> 219,631,139
<INVESTMENTS-AT-VALUE> 219,116,702
<RECEIVABLES> 1,706,356
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 220,823,058
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,356,020
<TOTAL-LIABILITIES> 1,356,020
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 246,432,351
<SHARES-COMMON-STOCK> 2,584,429
<SHARES-COMMON-PRIOR> 1,984,504
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (26,450,876)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (514,437)
<NET-ASSETS> 22,739,440
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8,055,429
<OTHER-INCOME> 0
<EXPENSES-NET> 685,161
<NET-INVESTMENT-INCOME> 7,370,268
<REALIZED-GAINS-CURRENT> (666,885)
<APPREC-INCREASE-CURRENT> 5,641,953
<NET-CHANGE-FROM-OPS> 12,345,336
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 663,933
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,351,222
<NUMBER-OF-SHARES-REDEEMED> 784,310
<SHARES-REINVESTED> 33,013
<NET-CHANGE-IN-ASSETS> (17,272,748)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (25,783,991)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 466,978
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,037,259
<AVERAGE-NET-ASSETS> 231,244,830
<PER-SHARE-NAV-BEGIN> 8.610
<PER-SHARE-NII> 0.280
<PER-SHARE-GAIN-APPREC> 0.190
<PER-SHARE-DIVIDEND> 0.280
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 8.800
<EXPENSE-RATIO> 0.81
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> Federated Income Securities Trust
Intermediate Income Fund
Institutional Shares
<PERIOD-TYPE> 6-Mos
<FISCAL-YEAR-END> Apr-30-1996
<PERIOD-END> Oct-31-1995
<INVESTMENTS-AT-COST> 55,884,253
<INVESTMENTS-AT-VALUE> 57,702,329
<RECEIVABLES> 1,263,709
<ASSETS-OTHER> 2,124,585
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 61,090,623
<PAYABLE-FOR-SECURITIES> 1,988,646
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 343,682
<TOTAL-LIABILITIES> 2,332,328
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 57,048,869
<SHARES-COMMON-STOCK> 5,803,567
<SHARES-COMMON-PRIOR> 3,403,817
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (108,650)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,818,076
<NET-ASSETS> 58,374,548
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,506,746
<OTHER-INCOME> 0
<EXPENSES-NET> 114,548
<NET-INVESTMENT-INCOME> 1,392,198
<REALIZED-GAINS-CURRENT> 426,257
<APPREC-INCREASE-CURRENT> 1,656,776
<NET-CHANGE-FROM-OPS> 3,475,231
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,381,786
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,066,757
<NUMBER-OF-SHARES-REDEEMED> 683,358
<SHARES-REINVESTED> 16,351
<NET-CHANGE-IN-ASSETS> 25,974,147
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (534,907)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 103,063
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 327,541
<AVERAGE-NET-ASSETS> 41,411,339
<PER-SHARE-NAV-BEGIN> 9.550
<PER-SHARE-NII> 0.330
<PER-SHARE-GAIN-APPREC> 0.510
<PER-SHARE-DIVIDEND> 0.330
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.060
<EXPENSE-RATIO> 0.55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
