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<PAGE> PAGE 18
SIGNATURE STEPHEN C LESLIE
TITLE CEO
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<DISTRIBUTIONS-OF-INCOME> (35,981)
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<NUMBER-OF-SHARES-SOLD> 870,944
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<PER-SHARE-NII> 0.16
<PER-SHARE-GAIN-APPREC> (0.49)
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<PER-SHARE-NAV-END> 6.81
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811668
<NAME> Cornerstone Fixed Income Funds
<SERIES>
<NUMBER> 3
<NAME> Cornerstone US Government
Strategic Income Fund
<MULTIPLIER> 1
<S> <C>
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<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-START> Jan-01-1999
<PERIOD-END> Jun-30-1999
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<INVESTMENTS-AT-VALUE> 3,860,389
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<ACCUMULATED-NET-GAINS> (16,744,150)
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<DISTRIBUTIONS-OF-INCOME> 46,995
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 39,004
<NUMBER-OF-SHARES-REDEEMED> (795,131)
<SHARES-REINVESTED> 32,452
<NET-CHANGE-IN-ASSETS> (890,869)
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<ACCUMULATED-GAINS-PRIOR> (16,663,290)
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<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> (0.05)
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<PER-SHARE-DISTRIBUTIONS> 0.00
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<PER-SHARE-NAV-END> 1.24
<EXPENSE-RATIO> 4.10
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
