MERRILL LYNCH FUNDS FOR INSTITUTIONS SERIES
NSAR-B, EX-27.5, 2000-06-29
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<TABLE> <S> <C>


<ARTICLE>                     6
<SERIES>
   <NUMBER>                   5
   <NAME>                     MERRILL LYNCH PREMIER INSTITUTIONAL FUND

<S>                                                 <C>
<PERIOD-TYPE>                                                12-MOS
<FISCAL-YEAR-END>                                       APR-30-2000
<PERIOD-START>                                          MAY-01-1999
<PERIOD-END>                                            APR-30-2000
<INVESTMENTS-AT-COST>                                14,663,028,042
<INVESTMENTS-AT-VALUE>                               14,653,213,309
<RECEIVABLES>                                           111,878,339
<ASSETS-OTHER>                                           12,247,623
<OTHER-ITEMS-ASSETS>                                              0
<TOTAL-ASSETS>                                       14,777,339,271
<PAYABLE-FOR-SECURITIES>                                210,000,000
<SENIOR-LONG-TERM-DEBT>                                           0
<OTHER-ITEMS-LIABILITIES>                                42,480,767
<TOTAL-LIABILITIES>                                     252,480,767
<SENIOR-EQUITY>                                                   0
<PAID-IN-CAPITAL-COMMON>                             14,534,673,237
<SHARES-COMMON-STOCK>                                14,534,673,237
<SHARES-COMMON-PRIOR>                                10,805,200,847
<ACCUMULATED-NII-CURRENT>                                         0
<OVERDISTRIBUTION-NII>                                            0
<ACCUMULATED-NET-GAINS>                                           0
<OVERDISTRIBUTION-GAINS>                                          0
<ACCUM-APPREC-OR-DEPREC>                                 (9,814,733)
<NET-ASSETS>                                         14,524,858,504
<DIVIDEND-INCOME>                                                 0
<INTEREST-INCOME>                                       727,386,950
<OTHER-INCOME>                                                    0
<EXPENSES-NET>                                           22,777,018
<NET-INVESTMENT-INCOME>                                 704,609,932
<REALIZED-GAINS-CURRENT>                                    139,941
<APPREC-INCREASE-CURRENT>                                (7,828,719)
<NET-CHANGE-FROM-OPS>                                   696,921,154
<EQUALIZATION>                                                    0
<DISTRIBUTIONS-OF-INCOME>                               704,749,873
<DISTRIBUTIONS-OF-GAINS>                                    701,188
<DISTRIBUTIONS-OTHER>                                             0
<NUMBER-OF-SHARES-SOLD>                             162,189,841,950
<NUMBER-OF-SHARES-REDEEMED>                         158,868,494,343
<SHARES-REINVESTED>                                     583,456,797
<NET-CHANGE-IN-ASSETS>                                3,904,804,404
<ACCUMULATED-NII-PRIOR>                                           0
<ACCUMULATED-GAINS-PRIOR>                                         0
<OVERDISTRIB-NII-PRIOR>                                           0
<OVERDIST-NET-GAINS-PRIOR>                                        0
<GROSS-ADVISORY-FEES>                                    19,401,530
<INTEREST-EXPENSE>                                                0
<GROSS-EXPENSE>                                          22,777,018
<AVERAGE-NET-ASSETS>                                 12,899,013,788
<PER-SHARE-NAV-BEGIN>                                             1
<PER-SHARE-NII>                                               0.054
<PER-SHARE-GAIN-APPREC>                                           0
<PER-SHARE-DIVIDEND>                                          0.054
<PER-SHARE-DISTRIBUTIONS>                                         0
<RETURNS-OF-CAPITAL>                                              0
<PER-SHARE-NAV-END>                                               1
<EXPENSE-RATIO>                                                0.18



</TABLE>


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