THORNBURG INVESTMENT TRUST
NSAR-B, 1998-11-30
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<PAGE>      PAGE  1
000 B000000 09/30/98
000 C000000 0000816153
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THORNBURG INVESTMENT TRUST
001 B000000 811-5201
001 C000000 5059840200
002 A000000 119 E. MARCY ST., SUITE 202
002 B000000 SANTA FE
002 C000000 NM
002 D010000 87501
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  7
007 C010100  1
007 C020100 THORNBURG LIMITED TERM U.S. GOVERNMENT
007 C030100 N
007 C010200  2
007 C020200 THORNBURG NEW MEXICO INTERMEDIATE MUNICIPAL
007 C030200 N
007 C010300  3
007 C020300 THORNBURG INTERMEDIATE MUNICIPAL NATIONAL
007 C030300 N
007 C010400  4
007 C020400 THORNBURG LIMITED TERM INCOME
007 C030400 N
007 C010500  5
007 C020500 THORNBURG VALUE
007 C030500 N
007 C010600  6
007 C020600 THORNBURG FLORIDA INTERMEDIATE MUNICIPAL
007 C030600 N
007 C010700  7
007 C020700 THORNBURG GLOBAL VALUE
007 C030700 N
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 THORNBURG MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-17853
008 D01AA01 SANTA FE
008 D02AA01 NM
<PAGE>      PAGE  2
008 D03AA01 87501
011 A00AA01 THORNBURG SECURITIES CORPORATION
011 B00AA01 8-31249
011 C01AA01 SANTA FE
011 C02AA01 NM
011 C03AA01 87501
013 A00AA01 MCGLADREY & PULLEN
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
015 A00AA01 STATE STREET BANK & TRUST
015 B00AA01 C
015 C01AA01 NORTH QUINCY
015 C02AA01 MA
015 C03AA01 02171
015 E06AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   10
019 C00AA00 -THORNBURG
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020 B000001 13-5674085
020 C000001     89
020 A000002 GOLDMAN SACHS
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020 C000002     50
020 A000003 NATIONSBANC MONTGOMERY
020 B000003 56-2058405
020 C000003     39
020 A000004 PRUDENTIAL SECURITIES
020 B000004 22-2347336
020 C000004     34
020 A000005 ESI SECURITIES
020 B000005 13-3872408
020 C000005     34
020 A000006 BEAR, STEARNS SECURITIES
020 B000006 13-3299429
020 C000006     30
020 A000007 PAINE WEBBER
020 B000007 13-2638166
020 C000007     30
020 A000008 A.G. EDWARDS & SONS
020 B000008 43-0895447
020 C000008     29
020 A000009 LEHMAN BROS.
020 B000009 13-2726611
020 C000009     27
020 A000010 MCDONALD & CO.
020 B000010 34-1391952
020 C000010     27
021  000000      759
<PAGE>      PAGE  3
022 A000001 MERRILL LYNCH
022 B000001 13-5674085
022 C000001    329922
022 D000001     17583
022 A000002 CHASE MANHATTAN
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022 C000002    128476
022 D000002      5695
022 A000003 PAINE WEBBER
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022 C000003     59723
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022 A000004 BEAR STEARNS
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022 C000004     22338
022 D000004     59544
022 A000005 DONALDSON LUFKIN & JENRETTE
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022 D000007      8984
022 A000008 SMITH BARNEY
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022 D000008      5566
022 A000009 GOLDMAN SACHS
022 B000009 13-5108880
022 C000009     22390
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022 A000010 PRUDENTIAL SECURITIES
022 B000010 22-2347336
022 C000010     13083
022 D000010      9878
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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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068 A000400 N
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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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SIGNATURE   VAN J. BILLOPS                               
TITLE       ASST. VICE PRESIDENT
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND (A)
       
<S>                             <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND (C)
       
<S>                             <C>
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND (I)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
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<NUMBER-OF-SHARES-REDEEMED>                  (615,938)
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<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,412,640
<AVERAGE-NET-ASSETS>                       139,005,950
<PER-SHARE-NAV-BEGIN>                            12.31
<PER-SHARE-NII>                                    .74
<PER-SHARE-GAIN-APPREC>                            .34
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.65
<EXPENSE-RATIO>                                    .60
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 2
   <NAME> THORNBURG NEW MEXICO INTERMEDIATE MUNICIPAL FUND
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
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<INVESTMENTS-AT-VALUE>                     152,869,343
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<TOTAL-ASSETS>                             155,685,415
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<SENIOR-EQUITY>                                      0
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<SHARES-COMMON-STOCK>                       11,385,588
<SHARES-COMMON-PRIOR>                       10,985,147
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<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                               153,118,157
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            8,487,273
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<EXPENSES-NET>                             (1,498,851)
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<REALIZED-GAINS-CURRENT>                      (39,034)
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<NUMBER-OF-SHARES-REDEEMED>                (2,073,534)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,538,933
<AVERAGE-NET-ASSETS>                       150,737,581
<PER-SHARE-NAV-BEGIN>                            13.28
<PER-SHARE-NII>                                    .62
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<PER-SHARE-DIVIDEND>                             (.62)
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<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND (A)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                      405,866,481
<INVESTMENTS-AT-VALUE>                     432,027,326
<RECEIVABLES>                                6,950,669
<ASSETS-OTHER>                                 512,634
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             439,490,629
<PAYABLE-FOR-SECURITIES>                    26,366,517
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,704,155
<TOTAL-LIABILITIES>                         30,070,672
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   386,791,328
<SHARES-COMMON-STOCK>                       26,759,376
<SHARES-COMMON-PRIOR>                       22,974,254
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<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,532,216)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    26,160,845
<NET-ASSETS>                               409,419,957
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           20,934,265
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (3,699,768)
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<REALIZED-GAINS-CURRENT>                       (6,912)
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-REDEEMED>                (4,320,609)
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<NET-CHANGE-IN-ASSETS>                       3,785,122
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (3,525,304)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,855,808
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              3,940,703
<AVERAGE-NET-ASSETS>                        27,418,385
<PER-SHARE-NAV-BEGIN>                            13.46
<PER-SHARE-NII>                                    .63
<PER-SHARE-GAIN-APPREC>                            .30
<PER-SHARE-DIVIDEND>                             (.63)
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.76
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND (C)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                      405,866,481
<INVESTMENTS-AT-VALUE>                     432,027,326
<RECEIVABLES>                                6,950,669
<ASSETS-OTHER>                                 512,634
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             439,490,629
<PAYABLE-FOR-SECURITIES>                    26,366,517
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,704,155
<TOTAL-LIABILITIES>                         30,070,672
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   386,791,328
<SHARES-COMMON-STOCK>                        1,513,899
<SHARES-COMMON-PRIOR>                          837,728
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,532,216)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    26,160,845
<NET-ASSETS>                               409,419,957
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           20,934,265
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (3,699,768)
<NET-INVESTMENT-INCOME>                     17,234,497
<REALIZED-GAINS-CURRENT>                       (6,912)
<APPREC-INCREASE-CURRENT>                    8,357,549
<NET-CHANGE-FROM-OPS>                       25,585,134
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (651,834)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        856,554
<NUMBER-OF-SHARES-REDEEMED>                  (220,287)
<SHARES-REINVESTED>                             39,904
<NET-CHANGE-IN-ASSETS>                       9,559,219
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (3,525,304)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,855,808
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              3,940,703
<AVERAGE-NET-ASSETS>                        27,418,385
<PER-SHARE-NAV-BEGIN>                            13.48
<PER-SHARE-NII>                                    .58
<PER-SHARE-GAIN-APPREC>                            .29
<PER-SHARE-DIVIDEND>                             (.58)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.77
<EXPENSE-RATIO>                                   1.40
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND (I)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                      405,866,481
<INVESTMENTS-AT-VALUE>                     432,027,326
<RECEIVABLES>                                6,950,669
<ASSETS-OTHER>                                 512,634
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             439,490,629
<PAYABLE-FOR-SECURITIES>                    26,366,517
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    3,704,155
<TOTAL-LIABILITIES>                         30,070,672
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   386,791,328
<SHARES-COMMON-STOCK>                        1,489,498
<SHARES-COMMON-PRIOR>                        1,235,862
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (3,532,216)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    26,160,845
<NET-ASSETS>                               409,419,957
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           20,934,265
<OTHER-INCOME>                                       0
<EXPENSES-NET>                             (3,699,768)
<NET-INVESTMENT-INCOME>                     17,234,497
<REALIZED-GAINS-CURRENT>                       (6,912)
<APPREC-INCREASE-CURRENT>                    8,357,549
<NET-CHANGE-FROM-OPS>                       25,585,134
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (925,101)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        512,235
<NUMBER-OF-SHARES-REDEEMED>                  (274,398)
<SHARES-REINVESTED>                             15,799
<NET-CHANGE-IN-ASSETS>                       3,845,792
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                  (3,525,304)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,855,808
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              3,940,703
<AVERAGE-NET-ASSETS>                        27,418,385
<PER-SHARE-NAV-BEGIN>                            13.44
<PER-SHARE-NII>                                    .67
<PER-SHARE-GAIN-APPREC>                            .30
<PER-SHARE-DIVIDEND>                             (.67)
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.74
<EXPENSE-RATIO>                                    .69
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND (A)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
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<INVESTMENTS-AT-VALUE>                      49,585,368
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<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                            184,985
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    50,026,930
<SHARES-COMMON-STOCK>                        2,869,867
<SHARES-COMMON-PRIOR>                        2,529,497
<ACCUMULATED-NII-CURRENT>                            0
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<ACCUMULATED-NET-GAINS>                    (1,157,238)
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<ACCUM-APPREC-OR-DEPREC>                     1,913,238
<NET-ASSETS>                                50,781,327
<DIVIDEND-INCOME>                                    0
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<NET-INVESTMENT-INCOME>                      2,645,277
<REALIZED-GAINS-CURRENT>                     (290,262)
<APPREC-INCREASE-CURRENT>                      837,189
<NET-CHANGE-FROM-OPS>                        3,192,204
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,937,609)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        871,449
<NUMBER-OF-SHARES-REDEEMED>                  (629,596)
<SHARES-REINVESTED>                             98,517
<NET-CHANGE-IN-ASSETS>                       4,584,860
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (866,976)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          228,636
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                627,093
<AVERAGE-NET-ASSETS>                         3,718,929
<PER-SHARE-NAV-BEGIN>                            12.37
<PER-SHARE-NII>                                    .72
<PER-SHARE-GAIN-APPREC>                            .13
<PER-SHARE-DIVIDEND>                             (.72)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.50
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND (C)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
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<INVESTMENTS-AT-VALUE>                      49,585,368
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<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    50,026,930
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<ACCUMULATED-NET-GAINS>                    (1,157,238)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,913,238
<NET-ASSETS>                                50,781,327
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            3,109,147
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<EXPENSES-NET>                               (463,870)
<NET-INVESTMENT-INCOME>                      2,645,277
<REALIZED-GAINS-CURRENT>                     (290,262)
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<NET-CHANGE-FROM-OPS>                        3,192,204
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (352,730)
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<NUMBER-OF-SHARES-SOLD>                        278,808
<NUMBER-OF-SHARES-REDEEMED>                  (166,840)
<SHARES-REINVESTED>                             24,958
<NET-CHANGE-IN-ASSETS>                       1,764,763
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (866,976)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          228,636
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                627,093
<AVERAGE-NET-ASSETS>                         3,718,929
<PER-SHARE-NAV-BEGIN>                            12.34
<PER-SHARE-NII>                                    .66
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<PER-SHARE-DIVIDEND>                             (.66)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.47
<EXPENSE-RATIO>                                   1.40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND (I)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    50,026,930
<SHARES-COMMON-STOCK>                          621,723
<SHARES-COMMON-PRIOR>                          363,536
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<ACCUMULATED-NET-GAINS>                    (1,157,238)
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<DIVIDEND-INCOME>                                    0
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<REALIZED-GAINS-CURRENT>                     (290,262)
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<NUMBER-OF-SHARES-SOLD>                        333,013
<NUMBER-OF-SHARES-REDEEMED>                   (95,336)
<SHARES-REINVESTED>                             20,510
<NET-CHANGE-IN-ASSETS>                       3,273,799
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (866,976)
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<AVERAGE-NET-ASSETS>                         3,718,929
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<PER-SHARE-GAIN-APPREC>                            .14
<PER-SHARE-DIVIDEND>                             (.75)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.50
<EXPENSE-RATIO>                                    .69
<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> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 5
   <NAME> THORNBURG VALUE FUND (A)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                      189,004,825
<INVESTMENTS-AT-VALUE>                     195,027,305
<RECEIVABLES>                                1,225,396
<ASSETS-OTHER>                                 836,342
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             197,089,043
<PAYABLE-FOR-SECURITIES>                     2,656,102
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    2,426,880
<TOTAL-LIABILITIES>                          5,082,982
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   188,528,887
<SHARES-COMMON-STOCK>                        7,727,057
<SHARES-COMMON-PRIOR>                        3,276,163
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     6,022,480
<NET-ASSETS>                               192,006,061
<DIVIDEND-INCOME>                            2,892,311
<INTEREST-INCOME>                              406,348
<OTHER-INCOME>                                 154,951
<EXPENSES-NET>                             (2,334,649)
<NET-INVESTMENT-INCOME>                      1,118,961
<REALIZED-GAINS-CURRENT>                     (168,836)
<APPREC-INCREASE-CURRENT>                 (10,040,414)
<NET-CHANGE-FROM-OPS>                      (9,090,289)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (938,716)
<DISTRIBUTIONS-OF-GAINS>                   (4,677,701) 
<DISTRIBUTIONS-OTHER>                        (165,589)
<NUMBER-OF-SHARES-SOLD>                      5,364,791
<NUMBER-OF-SHARES-REDEEMED>                (1,204,237)
<SHARES-REINVESTED>                            290,340
<NET-CHANGE-IN-ASSETS>                      83,599,171
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0  
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,214,207
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,338,777
<AVERAGE-NET-ASSETS>                       138,578,772
<PER-SHARE-NAV-BEGIN>                            20.42
<PER-SHARE-NII>                                    .20
<PER-SHARE-GAIN-APPREC>                            .40
<PER-SHARE-DIVIDEND>                             (.18)
<PER-SHARE-DISTRIBUTIONS>                       (1.35)
<RETURNS-OF-CAPITAL>                             (.02)
<PER-SHARE-NAV-END>                              19.47
<EXPENSE-RATIO>                                   1.61
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 5
   <NAME> THORNBURG VALUE FUND (C)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                      189,004,825
<INVESTMENTS-AT-VALUE>                     195,027,305
<RECEIVABLES>                                1,225,396
<ASSETS-OTHER>                                 836,342
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             197,089,043
<PAYABLE-FOR-SECURITIES>                     2,656,102
<SENIOR-LONG-TERM-DEBT>                              0  
<OTHER-ITEMS-LIABILITIES>                    2,426,880
<TOTAL-LIABILITIES>                          5,082,982
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   188,528,887
<SHARES-COMMON-STOCK>                        2,134,876
<SHARES-COMMON-PRIOR>                          490,248
<ACCUMULATED-NII-CURRENT>                            0  
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     6,022,480
<NET-ASSETS>                               192,006,061
<DIVIDEND-INCOME>                            2,892,311
<INTEREST-INCOME>                              406,348
<OTHER-INCOME>                                 154,951
<EXPENSES-NET>                             (2,334,649)
<NET-INVESTMENT-INCOME>                      1,118,961
<REALIZED-GAINS-CURRENT>                     (168,836)
<APPREC-INCREASE-CURRENT>                 (10,040,414)
<NET-CHANGE-FROM-OPS>                      (9,090,289)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (27,348)
<DISTRIBUTIONS-OF-GAINS>                     (746,009) 
<DISTRIBUTIONS-OTHER>                          (4,824)
<NUMBER-OF-SHARES-SOLD>                      1,712,966
<NUMBER-OF-SHARES-REDEEMED>                  (106,131)
<SHARES-REINVESTED>                             37,794
<NET-CHANGE-IN-ASSETS>                      31,514,816
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,214,207
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              2,338,777
<AVERAGE-NET-ASSETS>                       138,578,772
<PER-SHARE-NAV-BEGIN>                            20.40
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                            .39
<PER-SHARE-DIVIDEND>                             (.01)
<PER-SHARE-DISTRIBUTIONS>                       (1.35)
<RETURNS-OF-CAPITAL>                             (.02)
<PER-SHARE-NAV-END>                              19.44
<EXPENSE-RATIO>                                   2.44
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 6
   <NAME> THORNBURG FLORIDA INTERMEDIATE MUNICIPAL FUND (A)
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                       27,675,150
<INVESTMENTS-AT-VALUE>                      29,041,514
<RECEIVABLES>                                  580,257
<ASSETS-OTHER>                                  40,945
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              29,662,716
<PAYABLE-FOR-SECURITIES>                     1,433,923
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      138,242
<TOTAL-LIABILITIES>                          1,572,165
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    26,875,597
<SHARES-COMMON-STOCK>                        2,271,176
<SHARES-COMMON-PRIOR>                        2,032,350
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (151,410)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,366,364
<NET-ASSETS>                                28,090,551
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,460,144
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (259,898)
<NET-INVESTMENT-INCOME>                      1,200,246
<REALIZED-GAINS-CURRENT>                           829
<APPREC-INCREASE-CURRENT>                      521,930
<NET-CHANGE-FROM-OPS>                        1,723,005
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,200,246)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,756,020
<NUMBER-OF-SHARES-REDEEMED>                (1,554,599)
<SHARES-REINVESTED>                             37,405
<NET-CHANGE-IN-ASSETS>                       3,427,703
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (152,239)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          132,113
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                292,153
<AVERAGE-NET-ASSETS>                        26,456,897
<PER-SHARE-NAV-BEGIN>                            12.14
<PER-SHARE-NII>                                    .56
<PER-SHARE-GAIN-APPREC>                            .23
<PER-SHARE-DIVIDEND>                             (.56)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.37
<EXPENSE-RATIO>                                    .98
<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> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 7
   <NAME> THORNBURG GLOBAL VALUE FUND (A)
       
<S>                             <C>
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                        9,163,784
<INVESTMENTS-AT-VALUE>                       7,996,095
<RECEIVABLES>                                   19,233
<ASSETS-OTHER>                                 566,795
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               8,582,123
<PAYABLE-FOR-SECURITIES>                       247,150
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      318,070
<TOTAL-LIABILITIES>                            565,220
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     9,710,666
<SHARES-COMMON-STOCK>                          759,624
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (334,402)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (1,167,689)
<NET-ASSETS>                                 8,016,903
<DIVIDEND-INCOME>                               52,329
<INTEREST-INCOME>                               17,026
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (43,790)
<NET-INVESTMENT-INCOME>                         25,565
<REALIZED-GAINS-CURRENT>                     (334,402)
<APPREC-INCREASE-CURRENT>                  (1,365,627)
<NET-CHANGE-FROM-OPS>                      (1,674,464)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (18,944)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        763,955
<NUMBER-OF-SHARES-REDEEMED>                    (6,217)
<SHARES-REINVESTED>                              1,886
<NET-CHANGE-IN-ASSETS>                       7,439,514
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           22,883
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 89,361
<AVERAGE-NET-ASSETS>                         5,193,246
<PER-SHARE-NAV-BEGIN>                            11.94
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                         (2.15)
<PER-SHARE-DIVIDEND>                             (.03)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.79
<EXPENSE-RATIO>                                   1.63
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 7
   <NAME> THORNBURG GLOBAL VALUE FUND (C)
       
<S>                             <C>
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                        9,163,784
<INVESTMENTS-AT-VALUE>                       7,996,095
<RECEIVABLES>                                   19,233
<ASSETS-OTHER>                                 566,795
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               8,582,123
<PAYABLE-FOR-SECURITIES>                       247,150
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      318,070
<TOTAL-LIABILITIES>                            565,220
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     9,710,666
<SHARES-COMMON-STOCK>                           59,070
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (334,402)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                   (1,167,689)
<NET-ASSETS>                                 8,016,903
<DIVIDEND-INCOME>                               52,329
<INTEREST-INCOME>                               17,026
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (43,790)
<NET-INVESTMENT-INCOME>                         25,565
<REALIZED-GAINS-CURRENT>                     (334,402)
<APPREC-INCREASE-CURRENT>                  (1,365,627)
<NET-CHANGE-FROM-OPS>                      (1,674,464)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (354)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         85,018
<NUMBER-OF-SHARES-REDEEMED>                   (25,982)
<SHARES-REINVESTED>                                 34
<NET-CHANGE-IN-ASSETS>                         577,389
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           22,883
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 89,361
<AVERAGE-NET-ASSETS>                         5,193,246
<PER-SHARE-NAV-BEGIN>                            11.94
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                         (2.17)
<PER-SHARE-DIVIDEND>                             (.01)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.77
<EXPENSE-RATIO>                                   2.38
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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