<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 23
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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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 34
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TITLE TREASURER
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<APPREC-INCREASE-CURRENT> (1775894)
<NET-CHANGE-FROM-OPS> (115006)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (446352)
<DISTRIBUTIONS-OF-GAINS> (1394774)
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<NUMBER-OF-SHARES-SOLD> 211964
<NUMBER-OF-SHARES-REDEEMED> (405142)
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<NET-CHANGE-IN-ASSETS> (2939415)
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<GROSS-EXPENSE> 227373
<AVERAGE-NET-ASSETS> 14135954
<PER-SHARE-NAV-BEGIN> 14.650
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 4
<NAME> HIGH INCOME BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 8025453
<INVESTMENTS-AT-VALUE> 7441417
<RECEIVABLES> 884433
<ASSETS-OTHER> 12023
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8337873
<PAYABLE-FOR-SECURITIES> 396970
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 169817
<TOTAL-LIABILITIES> 566787
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8915952
<SHARES-COMMON-STOCK> 982001
<SHARES-COMMON-PRIOR> 1493702
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (5486)
<ACCUMULATED-NET-GAINS> (555344)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (584036)
<NET-ASSETS> 7771086
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 958927
<OTHER-INCOME> 0
<EXPENSES-NET> 115829
<NET-INVESTMENT-INCOME> 843098
<REALIZED-GAINS-CURRENT> (546253)
<APPREC-INCREASE-CURRENT> (975528)
<NET-CHANGE-FROM-OPS> (678683)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (848150)
<DISTRIBUTIONS-OF-GAINS> (72340)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1118872
<NUMBER-OF-SHARES-REDEEMED> (1747524)
<SHARES-REINVESTED> 116951
<NET-CHANGE-IN-ASSETS> (6724874)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 62815
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 59419
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 196360
<AVERAGE-NET-ASSETS> 9694261
<PER-SHARE-NAV-BEGIN> 9.704
<PER-SHARE-NII> 1.018
<PER-SHARE-GAIN-APPREC> (1.711)
<PER-SHARE-DIVIDEND> (1.011)
<PER-SHARE-DISTRIBUTIONS> (.086)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 7.914
<EXPENSE-RATIO> 1.20
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> MULTIPLE STRATEGIES PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 17804714
<INVESTMENTS-AT-VALUE> 17544675
<RECEIVABLES> 4014581
<ASSETS-OTHER> 11242
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<TOTAL-ASSETS> 21570498
<PAYABLE-FOR-SECURITIES> 111948
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 308990
<TOTAL-LIABILITIES> 420938
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<PAID-IN-CAPITAL-COMMON> 21466591
<SHARES-COMMON-STOCK> 2110269
<SHARES-COMMON-PRIOR> 2012930
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (11819)
<ACCUMULATED-NET-GAINS> (45173)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (260039)
<NET-ASSETS> 21149560
<DIVIDEND-INCOME> 287745
<INTEREST-INCOME> 322045
<OTHER-INCOME> 0
<EXPENSES-NET> 248999
<NET-INVESTMENT-INCOME> 360791
<REALIZED-GAINS-CURRENT> 2173355
<APPREC-INCREASE-CURRENT> (3568738)
<NET-CHANGE-FROM-OPS> (1034592)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (372610)
<DISTRIBUTIONS-OF-GAINS> (2210337)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 614383
<NUMBER-OF-SHARES-REDEEMED> (774529)
<SHARES-REINVESTED> 257485
<NET-CHANGE-IN-ASSETS> (3372375)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8191)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 307658
<AVERAGE-NET-ASSETS> 20756952
<PER-SHARE-NAV-BEGIN> 12.182
<PER-SHARE-NII> .236
<PER-SHARE-GAIN-APPREC> (.711)
<PER-SHARE-DIVIDEND> (.243)
<PER-SHARE-DISTRIBUTIONS> (1.442)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.022
<EXPENSE-RATIO> 1.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> U.S. GOVERNMENT BOND PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 15954230
<INVESTMENTS-AT-VALUE> 15629928
<RECEIVABLES> 296134
<ASSETS-OTHER> 13757
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 15939819
<PAYABLE-FOR-SECURITIES> 958855
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 537035
<TOTAL-LIABILITIES> 1495890
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14935688
<SHARES-COMMON-STOCK> 1486380
<SHARES-COMMON-PRIOR> 1895922
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (167457)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (324302)
<NET-ASSETS> 14443929
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1101488
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<EXPENSES-NET> 142921
<NET-INVESTMENT-INCOME> 958567
<REALIZED-GAINS-CURRENT> 146586
<APPREC-INCREASE-CURRENT> (1598045)
<NET-CHANGE-FROM-OPS> (492892)
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<DISTRIBUTIONS-OF-INCOME> (958567)
<DISTRIBUTIONS-OF-GAINS> (302168)
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<NUMBER-OF-SHARES-REDEEMED> (922528)
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<NET-CHANGE-IN-ASSETS> (6265752)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (11875)
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<GROSS-EXPENSE> 244504
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<PER-SHARE-NAV-BEGIN> 10.923
<PER-SHARE-NII> 0.690
<PER-SHARE-GAIN-APPREC> (.986)
<PER-SHARE-DIVIDEND> (.692)
<PER-SHARE-DISTRIBUTIONS> (.217)
<RETURNS-OF-CAPITAL> (.002)
<PER-SHARE-NAV-END> 9.718
<EXPENSE-RATIO> .850
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> WORLD EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1994
<PERIOD-END> DEC-31-1994
<INVESTMENTS-AT-COST> 9934855
<INVESTMENTS-AT-VALUE> 10987746
<RECEIVABLES> 3484685
<ASSETS-OTHER> 30328
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14502759
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3003081
<TOTAL-LIABILITIES> 3003081
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10373588
<SHARES-COMMON-STOCK> 978505
<SHARES-COMMON-PRIOR> 1077793
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (69065)
<ACCUMULATED-NET-GAINS> 64648
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1130507
<NET-ASSETS> 11499678
<DIVIDEND-INCOME> 118762
<INTEREST-INCOME> 26946
<OTHER-INCOME> 0
<EXPENSES-NET> 128233
<NET-INVESTMENT-INCOME> 17475
<REALIZED-GAINS-CURRENT> 604597
<APPREC-INCREASE-CURRENT> 440933
<NET-CHANGE-FROM-OPS> 1063005
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (20517)
<DISTRIBUTIONS-OF-GAINS> (628467)
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<NUMBER-OF-SHARES-SOLD> 600970
<NUMBER-OF-SHARES-REDEEMED> (755796)
<SHARES-REINVESTED> 55538
<NET-CHANGE-IN-ASSETS> (730624)
<ACCUMULATED-NII-PRIOR> 4864
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<GROSS-ADVISORY-FEES> 67514
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<GROSS-EXPENSE> 237085
<AVERAGE-NET-ASSETS> 10642324
<PER-SHARE-NAV-BEGIN> 11.348
<PER-SHARE-NII> .013
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<PER-SHARE-DIVIDEND> (.023)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.752
<EXPENSE-RATIO> 1.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
