<PAGE> PAGE 1
000 A000000 01/31/2000
000 C000000 0000823344
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 FORTIS ADVANTAGE PORTFOLIOS
001 B000000 811-5355
001 C000000 6517384000
002 A000000 500 BIELENBERG DRIVE
002 B000000 WOODBURY
002 C000000 MN
002 D010000 55125
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C010200 2
007 C010300 3
007 C020300 HIGH YIELD PORTFOLIO
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 FORTIS ADVISERS, INC.
008 B00AA01 A
008 C00AA01 801-07877
008 D01AA01 WOODBURY
008 D02AA01 MN
008 D03AA01 55125
011 A00AA01 FORTIS INVESTORS, INC.
011 B00AA01 8-13846
011 C01AA01 WOODBURY
011 C02AA01 MN
011 C03AA01 55125
012 A00AA01 FORTIS ADVISERS, INC.
012 B00AA01 85-07877
012 C01AA01 WOODBURY
012 C02AA01 MN
012 C03AA01 55125
013 A00AA01 KPMG LLP
<PAGE> PAGE 2
013 B01AA01 MINNEAPOLIS
013 B02AA01 MN
013 B03AA01 55402
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 33
019 C00AA00 FORTISFUND
020 A000001 LAZARD FRERES & CO.
020 B000001 13-5545100
020 C000001 35
020 A000002 BEAR, STEARNS & CO.
020 B000002 13-3299429
020 C000002 27
020 A000003 SALOMON BROTHERS/SMITH BARNEY
020 B000003 13-3082694
020 C000003 26
020 A000004 CS FIRST BOSTON CORP.
020 B000004 13-5659485
020 C000004 22
020 A000005 BYRNE (J.) & CO., INC.
020 B000005 UNKNOWN
020 C000005 22
020 A000006 DEUTSCHE MORGAN GRENFELL, INC.
020 B000006 13-2730828
020 C000006 19
020 A000007 DONALDSON, LUFKIN & JENRETTE SECURITIES
020 B000007 13-2741729
020 C000007 16
020 A000008 MORGAN STANLEY/DEAN WITTER REYNOLDS
020 B000008 13-2655998
020 C000008 16
020 A000009 COWEN & CO.
020 B000009 13-5616116
020 C000009 15
020 A000010 PAINE WEBBER, INC.
020 B000010 13-2638166
020 C000010 14
021 000000 413
022 A000001 NORWEST INVESTMENT SERVICES
022 B000001 41-1508325
022 C000001 187391
022 D000001 195496
022 A000002 U.S. BANK (N.A.)
022 B000002 41-0256395
022 C000002 56861
022 D000002 61010
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003 39713
022 D000003 50704
022 A000004 SALOMON BROTHERS/SMITH BARNEY
<PAGE> PAGE 3
022 B000004 13-3082694
022 C000004 33754
022 D000004 29411
022 A000005 BEAR STEARS & CO.
022 B000005 13-3299429
022 C000005 28916
022 D000005 23107
022 A000006 HAMBRECHT & QUIST LLC
022 B000006 94-3220292
022 C000006 23925
022 D000006 29451
022 A000007 DAIN RAUSCHER
022 B000007 41-0212020
022 C000007 23536
022 D000007 26823
022 A000008 J.P. MORGAN & CO., INC.
022 B000008 13-2625764
022 C000008 17333
022 D000008 31721
022 A000009 LEHMAN BROTHERS, INC.
022 B000009 13-2518466
022 C000009 26728
022 D000009 22311
022 A000010 CIBC OPPENHEIMER CORP.
022 B000010 13-2798343
022 C000010 16182
022 D000010 21742
023 C000000 734289
023 D000000 700118
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
<PAGE> PAGE 4
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
077 A000000 N
078 000000 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
015 A000301 U.S. BANK NATIONAL ASSOCIATION
015 B000301 C
015 C010301 MINNEAPOLIS
015 C020301 MN
015 C030301 55480
015 E010301 X
015 A000302 U.S. BANK N.A.
015 B000302 S
015 C010302 ST. PAUL
015 C020302 MN
015 C030302 55164
015 E010302 X
024 000300 Y
025 A000301 U.S. BANK (N.A.)
025 B000301 41-0256395
025 C000301 D
025 D000301 429
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 1710
028 A020300 761
028 A030300 0
028 A040300 7338
028 B010300 1620
028 B020300 752
028 B030300 0
028 B040300 5455
028 C010300 1304
028 C020300 743
<PAGE> PAGE 5
028 C030300 0
028 C040300 4166
028 D010300 2790
028 D020300 755
028 D030300 0
028 D040300 6807
028 E010300 914
028 E020300 733
028 E030300 0
028 E040300 5896
028 F010300 2481
028 F020300 738
028 F030300 0
028 F040300 7573
028 G010300 10819
028 G020300 4482
028 G030300 0
028 G040300 37235
028 H000300 1661
029 000300 Y
030 A000300 40
030 B000300 4.50
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 6
033 000300 34
034 000300 Y
035 000300 225
036 A000300 N
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 N
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 0
044 000300 263
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 50000
<PAGE> PAGE 6
048 A020300 0.800
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 50000
048 K020300 0.700
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 25
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.3
062 K000300 0.0
062 L000300 0.5
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 93.4
<PAGE> PAGE 7
062 Q000300 0.5
062 R000300 2.9
063 A000300 0
063 B000300 8.2
064 A000300 N
064 B000300 Y
065 000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 64359
071 B000300 81549
071 C000300 173943
<PAGE> PAGE 8
071 D000300 37
072 A000300 6
072 B000300 9210
072 C000300 110
072 D000300 0
072 E000300 0
072 F000300 650
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 5
072 K000300 4
072 L000300 19
072 M000300 6
072 N000300 29
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 11
072 S000300 4
072 T000300 564
072 U000300 0
072 V000300 0
072 W000300 8
072 X000300 1300
072 Y000300 0
072 Z000300 8020
072AA000300 386
072BB000300 12544
072CC010300 5419
072CC020300 0
072DD010300 4268
072DD020300 3027
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 1248
074 D000300 154238
074 E000300 1564
074 F000300 3184
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 1027
074 K000300 0
074 L000300 3744
074 M000300 26
<PAGE> PAGE 9
074 N000300 165031
074 O000300 0
074 P000300 114
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 659
074 S000300 0
074 T000300 164258
074 U010300 14634
074 U020300 10843
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 11853
074 Y000300 0
075 A000300 0
075 B000300 177617
076 000300 0.00
080 A000300 ICI MUTUAL INSURANCE COMPANY
080 C000300 8000
081 A000300 Y
081 B000300 33
082 A000300 Y
082 B000300 50
083 A000300 N
083 B000300 0
084 A000300 N
084 B000300 0
085 A000300 Y
085 B000300 N
SIGNATURE TAMARA L. FAGELY
TITLE TREASURER
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 THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENET OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 15 THROUGH 28 OF THE FORTIS BOND FUNDS
SEMIANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 031
<NAME> HIGH YIELD PORTFOLIO (CLASS A)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-01-1999
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 172,044,284
<INVESTMENTS-AT-VALUE> 160,233,891
<RECEIVABLES> 4,770,821
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 26,623
<TOTAL-ASSETS> 165,031,335
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 772,883
<TOTAL-LIABILITIES> 772,883
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213,818,824
<SHARES-COMMON-STOCK> 14,634,026
<SHARES-COMMON-PRIOR> 16,036,606
<ACCUMULATED-NII-CURRENT> 384,543
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (38,134,522)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,810,393)
<NET-ASSETS> 164,258,452
<DIVIDEND-INCOME> 109,797
<INTEREST-INCOME> 9,210,420
<OTHER-INCOME> 0
<EXPENSES-NET> (1,300,400)
<NET-INVESTMENT-INCOME> 8,019,817
<REALIZED-GAINS-CURRENT> (12,158,017)
<APPREC-INCREASE-CURRENT> 5,418,912
<NET-CHANGE-FROM-OPS> 1,280,712
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,267,824)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,045,738
<NUMBER-OF-SHARES-REDEEMED> (2,910,637)
<SHARES-REINVESTED> 462,319
<NET-CHANGE-IN-ASSETS> (27,947,941)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (25,976,505)
<OVERDISTRIB-NII-PRIOR> (340,774)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 649,528
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,300,400
<AVERAGE-NET-ASSETS> 177,617,231
<PER-SHARE-NAV-BEGIN> 6.67
<PER-SHARE-NII> .30
<PER-SHARE-GAIN-APPREC> (.24)
<PER-SHARE-DIVIDEND> (.28)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.45
<EXPENSE-RATIO> 1.17<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>ANNUALIZED.
</FN>
</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 THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENET OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 15 THROUGH 28 OF THE FORTIS BOND FUNDS
SEMIANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 032
<NAME> HIGH YIELD PORTFOLIO (CLASS B)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-01-1999
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 172,044,284
<INVESTMENTS-AT-VALUE> 160,233,891
<RECEIVABLES> 4,770,821
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 26,623
<TOTAL-ASSETS> 165,031,335
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 772,883
<TOTAL-LIABILITIES> 772,883
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213,818,824
<SHARES-COMMON-STOCK> 2,963,619
<SHARES-COMMON-PRIOR> 3,421,053
<ACCUMULATED-NII-CURRENT> 384,543
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (38,134,522)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,810,393)
<NET-ASSETS> 164,258,452
<DIVIDEND-INCOME> 109,797
<INTEREST-INCOME> 9,210,420
<OTHER-INCOME> 0
<EXPENSES-NET> (1,300,400)
<NET-INVESTMENT-INCOME> 8,019,817
<REALIZED-GAINS-CURRENT> (12,158,017)
<APPREC-INCREASE-CURRENT> 5,418,912
<NET-CHANGE-FROM-OPS> 1,280,712
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (818,150)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 152,110
<NUMBER-OF-SHARES-REDEEMED> (665,080)
<SHARES-REINVESTED> 55,536
<NET-CHANGE-IN-ASSETS> (27,947,941)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (25,976,505)
<OVERDISTRIB-NII-PRIOR> (340,774)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 649,528
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,300,400
<AVERAGE-NET-ASSETS> 177,617,231
<PER-SHARE-NAV-BEGIN> 6.67
<PER-SHARE-NII> .28
<PER-SHARE-GAIN-APPREC> (.24)
<PER-SHARE-DIVIDEND> (.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.45
<EXPENSE-RATIO> 1.82<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>ANNUALIZED.
</FN>
</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 THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENET OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 15 THROUGH 28 OF THE FORTIS BOND FUNDS
SEMIANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 033
<NAME> HIGH YIELD PORTFOLIO (CLASS C)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-01-1999
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 172,044,284
<INVESTMENTS-AT-VALUE> 160,233,891
<RECEIVABLES> 4,770,821
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 26,623
<TOTAL-ASSETS> 165,031,335
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 772,883
<TOTAL-LIABILITIES> 772,883
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213,818,824
<SHARES-COMMON-STOCK> 810,264
<SHARES-COMMON-PRIOR> 908,869
<ACCUMULATED-NII-CURRENT> 384,543
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (38,134,522)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,810,393)
<NET-ASSETS> 164,258,452
<DIVIDEND-INCOME> 109,797
<INTEREST-INCOME> 9,210,420
<OTHER-INCOME> 0
<EXPENSES-NET> (1,300,400)
<NET-INVESTMENT-INCOME> 8,019,817
<REALIZED-GAINS-CURRENT> (12,158,017)
<APPREC-INCREASE-CURRENT> 5,418,912
<NET-CHANGE-FROM-OPS> 1,280,712
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (221,567)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 51,798
<NUMBER-OF-SHARES-REDEEMED> (179,854)
<SHARES-REINVESTED> 29,451
<NET-CHANGE-IN-ASSETS> (27,947,941)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (25,976,505)
<OVERDISTRIB-NII-PRIOR> (340,774)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 649,528
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,300,400
<AVERAGE-NET-ASSETS> 177,617,231
<PER-SHARE-NAV-BEGIN> 6.66
<PER-SHARE-NII> .28
<PER-SHARE-GAIN-APPREC> (.24)
<PER-SHARE-DIVIDEND> (.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.44
<EXPENSE-RATIO> 1.82<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>ANNUALIZED.
</FN>
</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 THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENET OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 15 THROUGH 28 OF THE FORTIS BOND FUNDS
SEMIANNUAL SHAREHOLDER REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS, INC.
<SERIES>
<NUMBER> 034
<NAME> HIGH YIELD PORTFOLIO (CLASS H)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-START> AUG-01-1999
<PERIOD-END> JAN-31-2000
<INVESTMENTS-AT-COST> 172,044,284
<INVESTMENTS-AT-VALUE> 160,233,891
<RECEIVABLES> 4,770,821
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 26,623
<TOTAL-ASSETS> 165,031,335
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 772,883
<TOTAL-LIABILITIES> 772,883
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213,818,824
<SHARES-COMMON-STOCK> 7,069,386
<SHARES-COMMON-PRIOR> 8,466,437
<ACCUMULATED-NII-CURRENT> 384,543
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (38,134,522)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,810,393)
<NET-ASSETS> 164,258,452
<DIVIDEND-INCOME> 109,797
<INTEREST-INCOME> 9,210,420
<OTHER-INCOME> 0
<EXPENSES-NET> (1,300,400)
<NET-INVESTMENT-INCOME> 8,019,817
<REALIZED-GAINS-CURRENT> (12,158,017)
<APPREC-INCREASE-CURRENT> 5,418,912
<NET-CHANGE-FROM-OPS> 1,280,712
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,986,959)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 407,350
<NUMBER-OF-SHARES-REDEEMED> (1,945,538)
<SHARES-REINVESTED> 141,137
<NET-CHANGE-IN-ASSETS> (27,947,941)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (25,976,505)
<OVERDISTRIB-NII-PRIOR> (340,774)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 649,528
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,300,400
<AVERAGE-NET-ASSETS> 177,617,231
<PER-SHARE-NAV-BEGIN> 6.66
<PER-SHARE-NII> .29
<PER-SHARE-GAIN-APPREC> (.24)
<PER-SHARE-DIVIDEND> (.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 6.45
<EXPENSE-RATIO> 1.82<F1>
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
<FN>
<F1>ANNUALIZED.
</FN>
</TABLE>
