<PAGE> PAGE 1
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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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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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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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SIGNATURE JAY S. NEUMAN
TITLE SECRETARY
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<S> <C>
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<SERIES>
<NUMBER> 15
<NAME> Global High Yield Fund
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<TABLE> <S> <C>
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<SERIES>
<NUMBER> 17
<NAME> Pacific Basin Fund
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<NET-INVESTMENT-INCOME> (133,310)
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<NET-CHANGE-IN-ASSETS> (2,905,481)
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<GROSS-EXPENSE> 287,459
<AVERAGE-NET-ASSETS> 32,052,097
<PER-SHARE-NAV-BEGIN> 11.80
<PER-SHARE-NII> (.05)
<PER-SHARE-GAIN-APPREC> (1.07)
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> International Equity
Fund
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<PERIOD-START> Oct-01-1996
<PERIOD-END> Sep-30-1997
<INVESTMENTS-AT-COST> 526,674,765
<INVESTMENTS-AT-VALUE> 526,674,765
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<TOTAL-ASSETS> 529,545,541
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<TOTAL-LIABILITIES> 4,025,336
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<PAID-IN-CAPITAL-COMMON> 409,072,975
<SHARES-COMMON-STOCK> 23,751,549
<SHARES-COMMON-PRIOR> 9,641,288
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 11,187,447
<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 525,520,205
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
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<EXPENSES-NET> 2,601,064
<NET-INVESTMENT-INCOME> 1,622,491
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<DISTRIBUTIONS-OF-GAINS> 2,293,069
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 416,501,704
<NUMBER-OF-SHARES-REDEEMED> 146,394,599
<SHARES-REINVESTED> 2,988,256
<NET-CHANGE-IN-ASSETS> 273,095,361
<ACCUMULATED-NII-PRIOR> 1,972,372
<ACCUMULATED-GAINS-PRIOR> 3,984,951
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,650,201
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<PER-SHARE-NAV-BEGIN> 16.77
<PER-SHARE-NII> .03
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<PER-SHARE-DIVIDEND> .16
<PER-SHARE-DISTRIBUTIONS> .20
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<PER-SHARE-NAV-END> 22.13
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 8
<NAME> Capital Appreciation
Fund
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Sep-30-1997
<PERIOD-START> Oct-01-1996
<PERIOD-END> Sep-30-1997
<INVESTMENTS-AT-COST> 48,971,758
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<RECEIVABLES> 65,081
<ASSETS-OTHER> 5,303
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 49,042,142
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<OTHER-ITEMS-LIABILITIES> 39,752
<TOTAL-LIABILITIES> 39,752
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 30,741,130
<SHARES-COMMON-STOCK> 3,117,530
<SHARES-COMMON-PRIOR> 4,013,416
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,269,808
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11,991,452
<NET-ASSETS> 49,002,390
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> (61,421)
<EXPENSES-NET> 338,831
<NET-INVESTMENT-INCOME> (400,252)
<REALIZED-GAINS-CURRENT> 9,741,388
<APPREC-INCREASE-CURRENT> (4,951,199)
<NET-CHANGE-FROM-OPS> 4,389,937
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<DISTRIBUTIONS-OF-GAINS> 11,135,789
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<NUMBER-OF-SHARES-SOLD> 18,537,543
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<SHARES-REINVESTED> 6,064,050
<NET-CHANGE-IN-ASSETS> (18,382,410)
<ACCUMULATED-NII-PRIOR> (410,072)
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<GROSS-EXPENSE> 380,725
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<PER-SHARE-NAV-BEGIN> 16.79
<PER-SHARE-NII> (.16)
<PER-SHARE-GAIN-APPREC> 2.16
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 18
<NAME> Latin American Fund
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Sep-30-1997
<PERIOD-START> Oct-01-1996
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</TABLE>
<TABLE> <S> <C>
<S> <C>
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<SERIES>
<NUMBER> 16
<NAME> Small Cap Fund
<PERIOD-TYPE> 12-mos
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<PERIOD-START> Oct-01-1996
<PERIOD-END> Sep-30-1997
<INVESTMENTS-AT-COST> 285,878,325
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<PER-SHARE-NII> (.26)
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> Intermediate Tax Free
Fund
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Sep-30-1997
<PERIOD-START> Oct-01-1996
<PERIOD-END> Sep-30-1997
<INVESTMENTS-AT-COST> 18,382,877
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<NET-INVESTMENT-INCOME> 906,480
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</TABLE>
