<PAGE> PAGE 1
000 B000000 07/31/95
000 C000000 0000081279
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 PUTNAM VISTA FUND
001 B000000 811-1561
001 C000000 6172921000
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
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 A000001 PUTNAM INVESTMENT MANAGEMENT INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS CORP.
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 PRICE WATERHOUSE LLP
013 B010001 BOSTON
013 B020001 MA
<PAGE> PAGE 2
013 B030001 02110
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 89
019 C000000 PUTNAMFUND
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH
020 B000001 13-5674085
020 C000001 278
020 A000002 PAINEWEBBER INC.
020 B000002 13-2638166
020 C000002 242
020 A000003 SALOMON BROTHERS
020 B000003 13-3082694
020 C000003 211
020 A000004 FIRST BOSTON CO.
020 B000004 13-5659485
020 C000004 187
020 A000005 BEAR STERNS & CO.
020 B000005 13-4946705
020 C000005 161
020 A000006 BRIDGE TRADING CO.
020 B000006 43-1034850
020 C000006 128
020 A000007 EDWARDS (A.G.) & SONS INC.
020 B000007 43-0895477
020 C000007 77
020 A000008 LEHMAN BROTHERS
020 B000008 13-2518466
020 C000008 72
020 A000009 MORGAN (J.P.) SECURITIES INC.
020 B000009 13-3224016
020 C000009 69
020 A000010 BROWN (ALEX) & SONS, INC.
020 B000010 52-0256630
020 C000010 68
021 000000 2691
022 A000001 GOLDMAN SACHS & CO.,
022 B000001 13-5108880
022 C000001 2202938
022 D000001 25306
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 1133
022 D000002 8649
022 A000003 MORGAN STANLEY INC.
<PAGE> PAGE 3
022 B000003 13-2655998
022 C000003 966948
022 D000003 40798
022 A000004 B T SECURITIES CORP.
022 B000004 13-3311934
022 C000004 956000
022 D000004 0
022 A000005 MORGAN (J.P.) SECURITIES INC.
022 B000005 13-5674085
022 C000005 939450
022 D000005 0
022 A000006 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000006 13-5674085
022 C000006 232067
022 D000006 21732
022 A000007 NOMURA SECURITIES INC.
022 B000007 13-2642206
022 C000007 242000
022 D000007 0
022 A000008 PRUDENTIAL SECURITIES INC.
022 B000008 13-5659485
022 C000008 100948
022 D000008 0
022 A000009 HONG KONG & SHANGAU BARD
022 B000009 13-5659485
022 C000009 37973
022 D000009 18997
022 A000010 BROWN (ALEX) & SONS, INC.
022 B000010 52-0256630
022 C000010 25973
022 D000010 12235
023 C000000 7117256
023 D000000 266440
024 000000 N
025 A000001 DELETE
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
<PAGE> PAGE 4
026 H000000 N
027 000000 Y
028 A010000 29082
028 A020000 0
028 A030000 0
028 A040000 17411
028 B010000 60256
028 B020000 0
028 B030000 0
028 B040000 54884
028 C010000 28046
028 C020000 0
028 C030000 0
028 C040000 12449
028 D010000 63484
028 D020000 0
028 D030000 0
028 D040000 49848
028 E010000 28972
028 E020000 0
028 E030000 0
028 E040000 24733
028 F010000 51648
028 F020000 0
028 F030000 0
028 F040000 35036
028 G010000 261488
028 G020000 0
028 G030000 0
028 G040000 194361
028 H000000 261488
029 000000 Y
030 A000000 1317
030 B000000 5.75
030 C000000 0.00
031 A000000 325
031 B000000 0
032 000000 992
033 000000 0
034 000000 Y
035 000000 385
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
<PAGE> PAGE 5
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 3546
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 500000
048 A020000 0.650
048 B010000 500000
048 B020000 0.550
048 C010000 500000
048 C020000 0.500
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 1500000
048 K020000 0.450
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
<PAGE> PAGE 6
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 500
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
<PAGE> PAGE 7
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 1072958
071 B000000 961302
071 C000000 839515
071 D000000 115
072 A000000 12
072 B000000 3340
072 C000000 8494
072 D000000 0
072 E000000 0
072 F000000 5416
072 G000000 20
072 H000000 0
072 I000000 1887
072 J000000 -366
072 K000000 64
072 L000000 123
072 M000000 26
072 N000000 43
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 42
072 S000000 24
072 T000000 3546
<PAGE> PAGE 8
072 U000000 0
072 V000000 0
072 W000000 36
072 X000000 10861
072 Y000000 0
072 Z000000 973
072AA000000 49546
072BB000000 0
072CC010000 216176
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 6380
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0550
073 C000000 0.0000
074 A000000 0
074 B000000 13285
074 C000000 93428
074 D000000 0
074 E000000 19370
074 F000000 1078573
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 29657
074 K000000 0
074 L000000 5088
074 M000000 26
074 N000000 1239427
074 O000000 69265
074 P000000 2492
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 3879
074 S000000 0
074 T000000 1163791
074 U010000 93115
074 U020000 28474
074 V010000 9.23
074 V020000 9.08
074 W000000 0.0000
074 X000000 74145
074 Y000000 0
075 A000000 0
075 B000000 919486
076 000000 0.00
077 A000000 Y
<PAGE> PAGE 9
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
080 A000000 FEDERAL INSURANCE COMPANY
080 B000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000 50000
081 A000000 Y
081 B000000 69
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE PAUL BUCAVALAS
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM Putnam Vista Fund Class A AND IS QUALIFIED IN ITS ENTIRETY BY R
EFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JUL-31-1995
<INVESTMENTS-AT-COST> 943,111,246
<INVESTMENTS-AT-VALUE> 1,204,655,852
<RECEIVABLES> 34,744,853
<ASSETS-OTHER> 462
<OTHER-ITEMS-ASSETS> 25,470
<TOTAL-ASSETS> 1,239,426,637
<PAYABLE-FOR-SECURITIES> 69,264,706
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,370,995
<TOTAL-LIABILITIES> 75,635,701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 859,115,511
<SHARES-COMMON-STOCK> 93,115,302
<SHARES-COMMON-PRIOR> 91,217,427
<ACCUMULATED-NII-CURRENT> 914,647
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,216,172
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 261,544,606
<NET-ASSETS> 1,163,790,936
<DIVIDEND-INCOME> 8,493,948
<INTEREST-INCOME> 3,340,132
<OTHER-INCOME> 0
<EXPENSES-NET> 10,861,476
<NET-INVESTMENT-INCOME> 972,604
<REALIZED-GAINS-CURRENT> 49,546,498
<APPREC-INCREASE-CURRENT> 216,175,777
<NET-CHANGE-FROM-OPS> 266,694,879
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (5,157,873)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 28,898,970
<NUMBER-OF-SHARES-REDEEMED> (27,694,506)
<SHARES-REINVESTED> 693,411
<NET-CHANGE-IN-ASSETS> 384,384,155
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 1,008,106
<GROSS-ADVISORY-FEES> 5,415,742
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,861,476
<AVERAGE-NET-ASSETS> 707,123,648
<PER-SHARE-NAV-BEGIN> 7.09
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 2.18
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.23
<EXPENSE-RATIO> 1.07
<AVG-DEBT-OUTSTANDING>
<AVG-DEBT-PER-SHARE>
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM Putnam Vista Fund Class B AND IS QUALIFIED IN ITS ENTIRETY BY R
EFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JUL-31-1995
<INVESTMENTS-AT-COST> 943,111,246
<INVESTMENTS-AT-VALUE> 1,204,655,852
<RECEIVABLES> 34,744,853
<ASSETS-OTHER> 462
<OTHER-ITEMS-ASSETS> 25,470
<TOTAL-ASSETS> 1,239,426,637
<PAYABLE-FOR-SECURITIES> 69,264,706
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,370,995
<TOTAL-LIABILITIES> 75,635,701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 859,115,511
<SHARES-COMMON-STOCK> 28,474,285
<SHARES-COMMON-PRIOR> 18,863,663
<ACCUMULATED-NII-CURRENT> 914,647
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,216,172
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 261,544,606
<NET-ASSETS> 1,163,790,936
<DIVIDEND-INCOME> 8,493,948
<INTEREST-INCOME> 3,340,132
<OTHER-INCOME> 0
<EXPENSES-NET> 10,861,476
<NET-INVESTMENT-INCOME> 972,604
<REALIZED-GAINS-CURRENT> 49,546,498
<APPREC-INCREASE-CURRENT> 216,175,777
<NET-CHANGE-FROM-OPS> 266,694,879
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1,221,982)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,020,047
<NUMBER-OF-SHARES-REDEEMED> (5,573,148)
<SHARES-REINVESTED> 163,723
<NET-CHANGE-IN-ASSETS> 384,384,155
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 1,008,106
<GROSS-ADVISORY-FEES> 5,415,742
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,861,476
<AVERAGE-NET-ASSETS> 176,354,820
<PER-SHARE-NAV-BEGIN> 7.03
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> 2.14
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.08
<EXPENSE-RATIO> 1.82
<AVG-DEBT-OUTSTANDING>
<AVG-DEBT-PER-SHARE>
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM Putnam Vista Fund Class M AND IS QUALIFIED IN ITS ENTIRETY BY R
EFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JUL-31-1995
<INVESTMENTS-AT-COST> 943,111,246
<INVESTMENTS-AT-VALUE> 1,204,655,852
<RECEIVABLES> 34,744,853
<ASSETS-OTHER> 462
<OTHER-ITEMS-ASSETS> 25,470
<TOTAL-ASSETS> 1,239,426,637
<PAYABLE-FOR-SECURITIES> 69,264,706
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,370,995
<TOTAL-LIABILITIES> 75,635,701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 859,115,511
<SHARES-COMMON-STOCK> 342,605
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 914,647
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,216,172
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 261,544,606
<NET-ASSETS> 1,163,790,936
<DIVIDEND-INCOME> 8,493,948
<INTEREST-INCOME> 3,340,132
<OTHER-INCOME> 0
<EXPENSES-NET> 10,861,476
<NET-INVESTMENT-INCOME> 972,604
<REALIZED-GAINS-CURRENT> 49,546,498
<APPREC-INCREASE-CURRENT> 216,175,777
<NET-CHANGE-FROM-OPS> 266,694,879
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (322)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 394,997
<NUMBER-OF-SHARES-REDEEMED> (52,436)
<SHARES-REINVESTED> 44
<NET-CHANGE-IN-ASSETS> 384,384,155
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 1,008,106
<GROSS-ADVISORY-FEES> 5,415,742
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,861,476
<AVERAGE-NET-ASSETS> 1,065,955
<PER-SHARE-NAV-BEGIN> 6.73
<PER-SHARE-NII> (.01)
<PER-SHARE-GAIN-APPREC> 2.53
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.19
<EXPENSE-RATIO> 1.06
<AVG-DEBT-OUTSTANDING>
<AVG-DEBT-PER-SHARE>
??
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM Putnam Vista Fund Class Y AND IS QUALIFIED IN ITS ENTIRETY BY R
EFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUL-31-1995
<PERIOD-END> JUL-31-1995
<INVESTMENTS-AT-COST> 943,111,246
<INVESTMENTS-AT-VALUE> 1,204,655,852
<RECEIVABLES> 34,744,853
<ASSETS-OTHER> 462
<OTHER-ITEMS-ASSETS> 25,470
<TOTAL-ASSETS> 1,239,426,637
<PAYABLE-FOR-SECURITIES> 69,264,706
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6,370,995
<TOTAL-LIABILITIES> 75,635,701
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 859,115,511
<SHARES-COMMON-STOCK> 4,621,592
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 914,647
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,216,172
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 261,544,606
<NET-ASSETS> 1,163,790,936
<DIVIDEND-INCOME> 8,493,948
<INTEREST-INCOME> 3,340,132
<OTHER-INCOME> 0
<EXPENSES-NET> 10,861,476
<NET-INVESTMENT-INCOME> 972,604
<REALIZED-GAINS-CURRENT> 49,546,498
<APPREC-INCREASE-CURRENT> 216,175,777
<NET-CHANGE-FROM-OPS> 266,694,879
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,556,775
<NUMBER-OF-SHARES-REDEEMED> (3,935,183)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 384,384,158
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 1,008,106
<GROSS-ADVISORY-FEES> 5,415,742
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,861,476
<AVERAGE-NET-ASSETS> 34,941,169
<PER-SHARE-NAV-BEGIN> 7.83
<PER-SHARE-NII> .01
<PER-SHARE-GAIN-APPREC> 1.40
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.24
<EXPENSE-RATIO> .29
<AVG-DEBT-OUTSTANDING>
<AVG-DEBT-PER-SHARE>
??
</TABLE>
