ALLIANCE VARIABLE PRODUCTS SERIES FUND INC
NSAR-A, 1997-08-27
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 825316
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 ALLIANCE VARIABLE PRODUCTS SERIES FUND INC
001 B000000 811-5398
001 C000000 2128872997
002 A000000 1345 AVENUE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10105
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 18
007 C010100  1
007 C020100 SHORT TERM MULTI MARKET PORTFOLIO
007 C030100 N
007 C010200  2
007 C020200 GROWTH AND INCOME PORTFOLIO
007 C030200 N
007 C010300  3
007 C020300 GLOBAL BOND PORTFOLIO
007 C030300 N
007 C010400  4
007 C020400 PREMIER GROWTH PORTFOLIO
007 C030400 N
007 C010500  5
007 C020500 U.S. GOVERNMENT/HIGH GRADE SECURITIES PORT
007 C030500 N
007 C010600  6
007 C020600 TOTAL RETURN PORTFOLIO
007 C030600 N
007 C010700  7
007 C020700 INTERNATIONAL PORTFOLIO
007 C030700 N
007 C010800  8
007 C020800 MONEY MARKET PORTFOLIO
007 C030800 N
007 C010900  9
007 C020900 NORTH AMERICAN GOVERNMENT INCOME PORTFOLIO
007 C030900 N
007 C011000 10
007 C021000 UTILITY INCOME PORTFOLIO
<PAGE>      PAGE  2
007 C031000 N
007 C011100 11
007 C021100 GLOBAL DOLLAR GOVERNMENT PORTFOLIO
007 C031100 N
007 C011200 12
007 C021200 GROWTH PORTFOLIO
007 C031200 N
007 C011300 13
007 C021300 WORLDWIDE PRIVATIZATION PORTFOLIO
007 C031300 N
007 C011400 14
007 C021400 CONSERVATIVE INVESTORS PORTFOLIO
007 C031400 N
007 C011500 15
007 C021500 GROWTH INVESTORS PORTFOLIO
007 C031500 N
007 C011600 16
007 C021600 TECHNOLOGY PORTFOLIO
007 C031600 N
007 C011700 17
007 C021700 QUASAR PORTFOLIO
007 C031700 N
007 C011800 18
007 C021800 REAL ESTATE INVESTMENT PORTFOLIO
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015 A00AA01 STATE STREET BANK AND TRUST COMPANY
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015 C03AA01 02110
015 E01AA01 X
015 A00AA02 STANDARD CHARTERED BANK
015 B00AA02 S
015 C01AA02 BANGKOK
015 D01AA02 THAILAND
015 E04AA02 X
015 A00AA03 CITIBANK, N.A.
015 B00AA03 S
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015 D01AA03 TURKEY
015 E04AA03 X
015 A00AA04 STATE STREET BANK AND TRUST COMPANY
015 B00AA04 S
015 C01AA04 LONDON
015 D01AA04 UNITED KINGDOM
015 E04AA04 X
015 A00AA05 CITIBANK, N.A.
015 B00AA05 S
015 C01AA05 MONTE-VIDEO
<PAGE>      PAGE  3
015 D01AA05 URUGUAY
015 E04AA05 X
015 A00AA06 CITIBANK, N.A.
015 B00AA06 S
015 C01AA06 CARACAS
015 D01AA06 VENEZUELA
015 E04AA06 X
015 A00AA07 BARCLAYS BANK OF ZAMBIA LIMITED
015 B00AA07 S
015 C01AA07 LUSAKA
015 D01AA07 ZAMBIA
015 E04AA07 X
015 A00AA08 BARCLAYS BANK OF ZIMBABWE LIMITED
015 B00AA08 S
015 C01AA08 HARARE
015 D01AA08 ZIMBABWE
015 E04AA08 X
015 A00AA09 EUROCLEAR/STATE STREET LONDON LIMITED
015 B00AA09 S
015 C01AA09 LONDON
015 D01AA09 UNITED KINGDOM
015 E04AA09 X
015 A00AA10 CEDEL/STATE STREET LONDON LIMITED
015 B00AA10 S
015 C01AA10 LONDON
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015 E04AA10 X
015 A00AA11 CITIBANK POLAND S.A.
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015 C01AA11 WARSAW
015 D01AA11 POLAND
015 E04AA11 X
015 A00AA12 BANCO COMERCIAL POTUGUES
015 B00AA12 S
015 C01AA12 LISBON
015 D01AA12 PORTUGAL
015 E04AA12 X
015 A00AA13 THE DEVELOPMENT BANK OF SINGAPORE LTD
015 B00AA13 S
015 C01AA13 SINGAPORE
015 D01AA13 SINGAPORE
015 E04AA13 X
015 A00AA14 CESKOSLOVENSKA OBCHODNA BANKA A.S.
015 B00AA14 S
015 C01AA14 SLOVAK REPUBLIC
015 D01AA14 SLOVAK REPUBLIC
015 E04AA14 X
015 A00AA15 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA15 S
015 C01AA15 WALES TERRACE PARK
015 D01AA15 SOUTH AFRICA
<PAGE>      PAGE  4
015 E04AA15 X
015 A00AA16 BANCO SANTANDER, S.A.
015 B00AA16 S
015 C01AA16 MADRID
015 D01AA16 SPAIN
015 E04AA16 X
015 A00AA17 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B00AA17 S
015 C01AA17 SRI LANKA
015 D01AA17 SRI LANKA
015 E04AA17 X
015 A00AA18 BARCLAYS BANK OF SWAZILAND LIMITED
015 B00AA18 S
015 C01AA18 MBABANE
015 D01AA18 SWAZILAND
015 E04AA18 X
015 A00AA19 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA19 S
015 C01AA19 STOCKHOLM
015 D01AA19 SWEDEN
015 E04AA19 X
015 A00AA20 UNION BANK OF SWITZERLAND
015 B00AA20 S
015 C01AA20 ZURICH
015 D01AA20 SWITZERLAND
015 E04AA20 X
015 A00AA21 CENTRAL TRUST OF CHINA
015 B00AA21 S
015 C01AA21 TAIWAN
015 D01AA21 TAIWAN
015 E04AA21 X
015 A00AA22 BARCLAYS BANK OF KENYA LIMITED
015 B00AA22 S
015 C01AA22 NAIROBE
015 D01AA22 KENYA
015 E04AA22 X
015 A00AA23 SEOULBANK
015 B00AA23 S
015 C01AA23 SEOUL
015 D01AA23 REPUBLIC OF KOREA
015 E04AA23 X
015 A00AA24 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B00AA24 S
015 C01AA24 KUALATUMPUI
015 D01AA24 MALAYSIA
015 E04AA24 X
015 A00AA25 THE HONGKONG AND SHANGHAI BANKING CORP
015 B00AA25 S
015 C01AA25 CUREPIPE
015 D01AA25 MAURITIUS
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<PAGE>      PAGE  5
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   54
019 C00AA00 ALLIANCECA
020 A000001 MERRILL LYNCH & CO., INC.
020 B000001 13-5674085
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020 A000007 NATWEST SECURITIES CORP.
020 B000007 13-3312778
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020 A000008 SMITH BARNEY, INC.
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022 A000002 AUBREY LANSTON
022 B000002 13-5552129
022 C000002   1435220
022 D000002      5882
022 A000003 GENERAL ELECTRIC CAPITAL CORP.
022 C000003    806342
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022 A000004 PRUDENTIAL SECURITIES, INC.
022 B000004 22-2347336
022 C000004    353060
022 D000004        28
022 A000005 GOLDMAN SACHS & CO.
022 B000005 13-5108880
022 C000005    201021
<PAGE>      PAGE  6
022 D000005     21169
022 A000006 MERRILL LYNCH
022 B000006 13-5674085
022 C000006    165648
022 D000006     15893
022 A000007 FORD MOTOR CREDIT CORP.
022 C000007    159398
022 D000007         0
022 A000008 JP MORGAN SEC, INC.
022 B000008 13-3224016
022 C000008     90632
022 D000008     19779
022 A000009 LEHMAN BROTHERS,INC.
022 B000009 13-2518466
022 C000009     90584
022 D000009     11774
022 A000010 AMERICAN EXPRESS, CO.
022 B000010 41-0884926
022 C000010     86376
022 D000010      2488
023 C000000    6325187
023 D000000     140887
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050  00AA00 N
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053 C00AA00 N
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054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
<PAGE>      PAGE  7
054 N00AA00 N
054 O00AA00 N
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008 A000101 ALLIANCE CAPITAL MANAGEMENT L.P.
008 B000101 A
008 C000101 801-32361
008 D010101 NEW YORK
008 D020101 NY
008 D030101 10105
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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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008 C000301 801-32361
008 D010301 NEW YORK
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008 D030301 10105
008 A000302 AIGAM INTERNATIONAL LTD
<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  17
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<PAGE>      PAGE  42
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048 J021800 0.000
048 K011800        0
048 K021800 0.000
062 A001800 N
062 B001800   0.0
062 C001800   0.0
062 D001800   0.0
062 E001800   0.0
062 F001800   0.0
<PAGE>      PAGE  54
062 G001800   0.0
062 H001800   0.0
062 I001800   0.0
062 J001800   0.0
062 K001800   0.0
062 L001800   0.0
062 M001800   0.0
062 N001800   0.0
062 O001800   0.0
062 P001800   0.0
062 Q001800   0.0
062 R001800   0.0
066 A001800 Y
066 B001800 N
066 C001800 N
066 D001800 N
066 E001800 N
066 F001800 N
066 G001800 Y
067  001800 N
068 A001800 N
068 B001800 N
069  001800 N
070 A011800 Y
070 A021800 N
070 B011800 Y
070 B021800 N
070 C011800 Y
070 C021800 N
070 D011800 N
070 D021800 N
070 E011800 N
070 E021800 N
070 F011800 N
070 F021800 N
070 G011800 N
070 G021800 N
070 H011800 N
070 H021800 N
070 I011800 N
070 I021800 N
070 J011800 Y
070 J021800 N
070 K011800 Y
070 K021800 N
070 L011800 Y
070 L021800 N
070 M011800 Y
070 M021800 N
070 N011800 Y
070 N021800 N
<PAGE>      PAGE  55
070 O011800 Y
070 O021800 N
070 P011800 N
070 P021800 N
070 Q011800 N
070 Q021800 N
070 R011800 Y
070 R021800 N
071 A001800      4485
071 B001800       101
071 C001800      2555
071 D001800    4
072 A001800  6
072 B001800        3
072 C001800       66
072 D001800        0
072 E001800        0
072 F001800       10
072 G001800        0
072 H001800        0
072 I001800        1
072 J001800       29
072 K001800        0
072 L001800        1
072 M001800        0
072 N001800        0
072 O001800        0
072 P001800        0
072 Q001800        0
072 R001800        0
072 S001800        0
072 T001800        0
072 U001800        1
072 V001800        0
072 W001800        1
072 X001800       42
072 Y001800       31
072 Z001800       58
072AA001800        2
072BB001800        5
072CC011800      202
072CC021800        0
072DD011800        0
072DD021800        0
072EE001800        0
073 A011800   0.0000
073 A021800   0.0000
073 B001800   0.0000
073 C001800   0.0000
074 A001800        1
074 B001800        0
<PAGE>      PAGE  56
074 C001800      211
074 D001800        0
074 E001800        0
074 F001800     4582
074 G001800        0
074 H001800        0
074 I001800        0
074 J001800        1
074 K001800        3
074 L001800       21
074 M001800       17
074 N001800     4836
074 O001800       73
074 P001800        0
074 Q001800        0
074 R011800        0
074 R021800        0
074 R031800        0
074 R041800       30
074 S001800        0
074 T001800     4733
074 U011800      444
074 U021800        0
074 V011800    10.65
074 V021800     0.00
074 W001800   0.0000
074 X001800        3
074 Y001800        0
075 A001800        0
075 B001800     2408
076  001800     0.00
SIGNATURE   STEVE YU                                     
TITLE       AVP                 
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> SHORT-TERM MULTI MARKET PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                        7,048,578
<INVESTMENTS-AT-VALUE>                       6,924,294
<RECEIVABLES>                                  109,038
<ASSETS-OTHER>                                  38,457
<OTHER-ITEMS-ASSETS>                            46,101
<TOTAL-ASSETS>                               7,117,890
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       17,373
<TOTAL-LIABILITIES>                             17,373
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     8,072,344
<SHARES-COMMON-STOCK>                          689,834
<SHARES-COMMON-PRIOR>                          662,827
<ACCUMULATED-NII-CURRENT>                      132,444
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,023,064)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      (81,207)
<NET-ASSETS>                                 7,100,517
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              233,014
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  34,572
<NET-INVESTMENT-INCOME>                        198,442
<REALIZED-GAINS-CURRENT>                        74,870
<APPREC-INCREASE-CURRENT>                    (138,777)
<NET-CHANGE-FROM-OPS>                          134,535
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (412,899)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        188,090
<NUMBER-OF-SHARES-REDEEMED>                  (201,248)
<SHARES-REINVESTED>                             40,165
<NET-CHANGE-IN-ASSETS>                        (11,787)
<ACCUMULATED-NII-PRIOR>                        346,901
<ACCUMULATED-GAINS-PRIOR>                  (1,097,934)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           20,015
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 56,251
<AVERAGE-NET-ASSETS>                         7,338,627
<PER-SHARE-NAV-BEGIN>                            10.73
<PER-SHARE-NII>                                    .29
<PER-SHARE-GAIN-APPREC>                          (.09)
<PER-SHARE-DIVIDEND>                             (.64)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.29
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 2
   <NAME> GROWTH AND INCOME PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                      161,757,911
<INVESTMENTS-AT-VALUE>                     187,030,261
<RECEIVABLES>                                  335,938
<ASSETS-OTHER>                                     814
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             187,367,013
<PAYABLE-FOR-SECURITIES>                     2,266,663
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      163,737
<TOTAL-LIABILITIES>                          2,430,400
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   151,050,505
<SHARES-COMMON-STOCK>                       10,446,707
<SHARES-COMMON-PRIOR>                        7,727,283
<ACCUMULATED-NII-CURRENT>                      981,454
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      7,632,273
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    25,272,381
<NET-ASSETS>                               184,936,613
<DIVIDEND-INCOME>                            1,350,730
<INTEREST-INCOME>                              197,066
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 563,344
<NET-INVESTMENT-INCOME>                        984,452
<REALIZED-GAINS-CURRENT>                     7,633,232
<APPREC-INCREASE-CURRENT>                   12,541,076
<NET-CHANGE-FROM-OPS>                       21,158,760
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,272,246)
<DISTRIBUTIONS-OF-GAINS>                   (9,150,387)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,325,876
<NUMBER-OF-SHARES-REDEEMED>                  (191,993)
<SHARES-REINVESTED>                            585,541
<NET-CHANGE-IN-ASSETS>                      58,207,208
<ACCUMULATED-NII-PRIOR>                      1,269,248
<ACCUMULATED-GAINS-PRIOR>                    9,149,428
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          477,820
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                563,344
<AVERAGE-NET-ASSETS>                       154,169,543
<PER-SHARE-NAV-BEGIN>                            16.40
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                           2.24
<PER-SHARE-DIVIDEND>                             (.13)
<PER-SHARE-DISTRIBUTIONS>                        (.94)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              17.70
<EXPENSE-RATIO>                                    .74
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> GLOBAL BOND PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       18,954,027
<INVESTMENTS-AT-VALUE>                      18,823,985
<RECEIVABLES>                                  450,841
<ASSETS-OTHER>                                     806
<OTHER-ITEMS-ASSETS>                            16,949
<TOTAL-ASSETS>                              19,292,581
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       26,244
<TOTAL-LIABILITIES>                             26,244
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    19,380,268
<SHARES-COMMON-STOCK>                        1,773,857
<SHARES-COMMON-PRIOR>                        1,542,961
<ACCUMULATED-NII-CURRENT>                      415,142
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (419,086)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (109,987)
<NET-ASSETS>                                19,266,337
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              525,267
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  84,757
<NET-INVESTMENT-INCOME>                        440,510
<REALIZED-GAINS-CURRENT>                     (398,362)
<APPREC-INCREASE-CURRENT>                    (306,214)
<NET-CHANGE-FROM-OPS>                        (264,066)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (945,935)
<DISTRIBUTIONS-OF-GAINS>                     (219,947)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        242,751
<NUMBER-OF-SHARES-REDEEMED>                  (118,915)
<SHARES-REINVESTED>                            107,060
<NET-CHANGE-IN-ASSETS>                       1,149,247
<ACCUMULATED-NII-PRIOR>                        920,567
<ACCUMULATED-GAINS-PRIOR>                      199,223
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           57,991
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 96,908
<AVERAGE-NET-ASSETS>                        17,991,386
<PER-SHARE-NAV-BEGIN>                            11.74
<PER-SHARE-NII>                                    .28
<PER-SHARE-GAIN-APPREC>                          (.46)
<PER-SHARE-DIVIDEND>                             (.57)
<PER-SHARE-DISTRIBUTIONS>                        (.13)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.86
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 4
   <NAME> PREMIER GROWTH PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                      223,840,838
<INVESTMENTS-AT-VALUE>                     274,766,464
<RECEIVABLES>                                  519,947
<ASSETS-OTHER>                                     672
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             275,287,083
<PAYABLE-FOR-SECURITIES>                     5,084,380
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      240,539
<TOTAL-LIABILITIES>                          5,324,919
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   220,050,235
<SHARES-COMMON-STOCK>                       14,390,859
<SHARES-COMMON-PRIOR>                        6,143,896
<ACCUMULATED-NII-CURRENT>                      338,023
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,351,720)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    50,925,626
<NET-ASSETS>                               269,962,164
<DIVIDEND-INCOME>                              941,385
<INTEREST-INCOME>                              264,610
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 866,714
<NET-INVESTMENT-INCOME>                        339,281
<REALIZED-GAINS-CURRENT>                     (404,323)
<APPREC-INCREASE-CURRENT>                   33,482,134
<NET-CHANGE-FROM-OPS>                       33,417,092
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (324,685)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      9,005,357
<NUMBER-OF-SHARES-REDEEMED>                  (775,738)
<SHARES-REINVESTED>                             17,344
<NET-CHANGE-IN-ASSETS>                     173,527,856
<ACCUMULATED-NII-PRIOR>                        323,427
<ACCUMULATED-GAINS-PRIOR>                    (947,397)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          912,330
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                997,782
<AVERAGE-NET-ASSETS>                       183,978,198
<PER-SHARE-NAV-BEGIN>                            15.70
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                           3.05
<PER-SHARE-DIVIDEND>                             (.02)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              18.76
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 5
   <NAME> US GOVERNMENT/HIGH GRADE SECURITIES PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       30,430,091
<INVESTMENTS-AT-VALUE>                      30,424,349
<RECEIVABLES>                                  430,762
<ASSETS-OTHER>                                     610
<OTHER-ITEMS-ASSETS>                             1,060
<TOTAL-ASSETS>                              30,856,781
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       26,111
<TOTAL-LIABILITIES>                             26,111
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    29,890,354
<SHARES-COMMON-STOCK>                        2,728,984
<SHARES-COMMON-PRIOR>                        2,531,426
<ACCUMULATED-NII-CURRENT>                      873,676
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         72,382
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (5,742)
<NET-ASSETS>                                30,830,670
<DIVIDEND-INCOME>                                1,181
<INTEREST-INCOME>                            1,032,386
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 121,391
<NET-INVESTMENT-INCOME>                        912,176
<REALIZED-GAINS-CURRENT>                        72,245
<APPREC-INCREASE-CURRENT>                    (108,568)
<NET-CHANGE-FROM-OPS>                          875,853
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,409,036)
<DISTRIBUTIONS-OF-GAINS>                      (54,796)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        363,288
<NUMBER-OF-SHARES-REDEEMED>                  (294,816)
<SHARES-REINVESTED>                            129,086
<NET-CHANGE-IN-ASSETS>                       1,680,766
<ACCUMULATED-NII-PRIOR>                      1,370,536
<ACCUMULATED-GAINS-PRIOR>                       54,933
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           90,051
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                121,391
<AVERAGE-NET-ASSETS>                        30,265,799
<PER-SHARE-NAV-BEGIN>                            11.52
<PER-SHARE-NII>                                    .35
<PER-SHARE-GAIN-APPREC>                          (.01)
<PER-SHARE-DIVIDEND>                             (.54)
<PER-SHARE-DISTRIBUTIONS>                        (.02)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.30
<EXPENSE-RATIO>                                    .81
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 6
   <NAME> TOTAL RETURN PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       30,166,310
<INVESTMENTS-AT-VALUE>                      33,212,862
<RECEIVABLES>                                  227,199
<ASSETS-OTHER>                                     818
<OTHER-ITEMS-ASSETS>                             2,410
<TOTAL-ASSETS>                              33,443,289
<PAYABLE-FOR-SECURITIES>                       131,670
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       41,563
<TOTAL-LIABILITIES>                            173,233
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    28,723,636
<SHARES-COMMON-STOCK>                        2,168,878
<SHARES-COMMON-PRIOR>                        1,768,899
<ACCUMULATED-NII-CURRENT>                      363,203
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,136,665
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     3,046,552
<NET-ASSETS>                                33,270,056
<DIVIDEND-INCOME>                              162,465
<INTEREST-INCOME>                              335,061
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 134,540
<NET-INVESTMENT-INCOME>                        362,986
<REALIZED-GAINS-CURRENT>                     1,136,341
<APPREC-INCREASE-CURRENT>                    1,292,049
<NET-CHANGE-FROM-OPS>                        2,791,376
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (480,826)
<DISTRIBUTIONS-OF-GAINS>                   (1,019,433)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        386,308
<NUMBER-OF-SHARES-REDEEMED>                   (83,685)
<SHARES-REINVESTED>                             97,356
<NET-CHANGE-IN-ASSETS>                       7,394,706
<ACCUMULATED-NII-PRIOR>                        481,043
<ACCUMULATED-GAINS-PRIOR>                    1,019,757
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           90,030
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                134,930
<AVERAGE-NET-ASSETS>                        29,048,297
<PER-SHARE-NAV-BEGIN>                            14.63
<PER-SHARE-NII>                                    .19
<PER-SHARE-GAIN-APPREC>                           1.24
<PER-SHARE-DIVIDEND>                             (.23)
<PER-SHARE-DISTRIBUTIONS>                        (.49)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.34
<EXPENSE-RATIO>                                    .93
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 7
   <NAME> INTERNATIONAL PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       53,862,631
<INVESTMENTS-AT-VALUE>                      59,842,011
<RECEIVABLES>                                  215,770
<ASSETS-OTHER>                                 848,127
<OTHER-ITEMS-ASSETS>                            36,219
<TOTAL-ASSETS>                              60,942,127
<PAYABLE-FOR-SECURITIES>                       992,169
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       90,420
<TOTAL-LIABILITIES>                          1,082,589
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    53,101,090
<SHARES-COMMON-STOCK>                        3,729,983
<SHARES-COMMON-PRIOR>                        2,976,776
<ACCUMULATED-NII-CURRENT>                      321,986
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        422,581
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     6,013,881
<NET-ASSETS>                                59,859,538
<DIVIDEND-INCOME>                              526,388
<INTEREST-INCOME>                               90,503
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 233,404
<NET-INVESTMENT-INCOME>                        383,487
<REALIZED-GAINS-CURRENT>                       482,470
<APPREC-INCREASE-CURRENT>                    4,589,646
<NET-CHANGE-FROM-OPS>                        5,455,603
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (523,610)
<DISTRIBUTIONS-OF-GAINS>                     (836,370)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,241,205
<NUMBER-OF-SHARES-REDEEMED>                (1,573,531)
<SHARES-REINVESTED>                             85,533
<NET-CHANGE-IN-ASSETS>                      15,535,442
<ACCUMULATED-NII-PRIOR>                        462,109
<ACCUMULATED-GAINS-PRIOR>                      776,481
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          245,688
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                370,015
<AVERAGE-NET-ASSETS>                        49,051,066
<PER-SHARE-NAV-BEGIN>                            14.89
<PER-SHARE-NII>                                    .12
<PER-SHARE-GAIN-APPREC>                           1.43
<PER-SHARE-DIVIDEND>                             (.15)
<PER-SHARE-DISTRIBUTIONS>                        (.24)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.05
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 8
   <NAME> MONEY MARKET PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       73,238,751
<INVESTMENTS-AT-VALUE>                      73,238,751
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                             2,493
<TOTAL-ASSETS>                              73,241,244
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      421,700
<TOTAL-LIABILITIES>                            421,700
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    72,819,107
<SHARES-COMMON-STOCK>                       72,819,910
<SHARES-COMMON-PRIOR>                       64,769,391
<ACCUMULATED-NII-CURRENT>                        1,046
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (609)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                72,819,544
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,821,326
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 212,487
<NET-INVESTMENT-INCOME>                      1,608,839
<REALIZED-GAINS-CURRENT>                         (266)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                        1,608,573
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,608,839)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                    106,969,959
<NUMBER-OF-SHARES-REDEEMED>              (100,241,241)
<SHARES-REINVESTED>                          1,321,801
<NET-CHANGE-IN-ASSETS>                       8,050,253
<ACCUMULATED-NII-PRIOR>                          1,046
<ACCUMULATED-GAINS-PRIOR>                        (343)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          163,230
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                212,487
<AVERAGE-NET-ASSETS>                        65,853,121
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                            .00
<PER-SHARE-DIVIDEND>                             (.02)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .65
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 9
   <NAME> NORTH AMERICAN GOVERNMENT PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       22,728,796
<INVESTMENTS-AT-VALUE>                      24,131,131
<RECEIVABLES>                                  220,775
<ASSETS-OTHER>                               1,073,375
<OTHER-ITEMS-ASSETS>                             9,412
<TOTAL-ASSETS>                              25,434,693
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       24,481
<TOTAL-LIABILITIES>                             24,481
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    23,083,485
<SHARES-COMMON-STOCK>                        2,029,675
<SHARES-COMMON-PRIOR>                        1,349,031
<ACCUMULATED-NII-CURRENT>                      880,389
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         42,490
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,403,848
<NET-ASSETS>                                25,410,212
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,006,324
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  99,967
<NET-INVESTMENT-INCOME>                        906,357
<REALIZED-GAINS-CURRENT>                        44,780
<APPREC-INCREASE-CURRENT>                      246,926
<NET-CHANGE-FROM-OPS>                        1,198,063
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (1,103,754)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        762,306
<NUMBER-OF-SHARES-REDEEMED>                  (169,681)
<SHARES-REINVESTED>                             88,019
<NET-CHANGE-IN-ASSETS>                       8,714,562
<ACCUMULATED-NII-PRIOR>                      1,077,786
<ACCUMULATED-GAINS-PRIOR>                      (2,290)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           68,399
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                109,157
<AVERAGE-NET-ASSETS>                        21,220,163
<PER-SHARE-NAV-BEGIN>                            12.38
<PER-SHARE-NII>                                    .54
<PER-SHARE-GAIN-APPREC>                            .18
<PER-SHARE-DIVIDEND>                             (.58)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.52
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 10
   <NAME> UTILITY INCOME PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       14,475,225
<INVESTMENTS-AT-VALUE>                      16,249,530
<RECEIVABLES>                                   50,873
<ASSETS-OTHER>                                 102,752
<OTHER-ITEMS-ASSETS>                             5,679
<TOTAL-ASSETS>                              16,408,834
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       23,523
<TOTAL-LIABILITIES>                             23,523
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    14,500,591
<SHARES-COMMON-STOCK>                        1,245,409
<SHARES-COMMON-PRIOR>                        1,170,361
<ACCUMULATED-NII-CURRENT>                      240,995
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (130,580)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,774,305
<NET-ASSETS>                                16,385,311
<DIVIDEND-INCOME>                              274,478
<INTEREST-INCOME>                               39,409
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  72,388
<NET-INVESTMENT-INCOME>                        241,499
<REALIZED-GAINS-CURRENT>                      (84,172)
<APPREC-INCREASE-CURRENT>                      675,082
<NET-CHANGE-FROM-OPS>                          832,409
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (289,532)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        170,203
<NUMBER-OF-SHARES-REDEEMED>                  (117,290)
<SHARES-REINVESTED>                             22,135
<NET-CHANGE-IN-ASSETS>                       1,528,518
<ACCUMULATED-NII-PRIOR>                        289,028
<ACCUMULATED-GAINS-PRIOR>                     (46,408)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           57,149
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 89,152
<AVERAGE-NET-ASSETS>                        15,365,909
<PER-SHARE-NAV-BEGIN>                            12.69
<PER-SHARE-NII>                                    .20
<PER-SHARE-GAIN-APPREC>                            .51
<PER-SHARE-DIVIDEND>                             (.24)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.16
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 11
   <NAME> GLOBAL DOLLAR GOVERNMENT PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       11,600,673
<INVESTMENTS-AT-VALUE>                      12,537,243
<RECEIVABLES>                                  959,083
<ASSETS-OTHER>                                     147
<OTHER-ITEMS-ASSETS>                             6,134
<TOTAL-ASSETS>                              13,502,607
<PAYABLE-FOR-SECURITIES>                       599,750
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       14,832
<TOTAL-LIABILITIES>                            614,582
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    11,415,950
<SHARES-COMMON-STOCK>                          898,406
<SHARES-COMMON-PRIOR>                          617,736
<ACCUMULATED-NII-CURRENT>                      371,703
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        163,802
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       936,570
<NET-ASSETS>                                12,888,025
<DIVIDEND-INCOME>                                1,336
<INTEREST-INCOME>                              427,889
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  50,528
<NET-INVESTMENT-INCOME>                        378,697
<REALIZED-GAINS-CURRENT>                       164,768
<APPREC-INCREASE-CURRENT>                      545,383
<NET-CHANGE-FROM-OPS>                        1,088,848
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (489,947)
<DISTRIBUTIONS-OF-GAINS>                     (742,126)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        281,855
<NUMBER-OF-SHARES-REDEEMED>                   (86,686)
<SHARES-REINVESTED>                             85,501
<NET-CHANGE-IN-ASSETS>                       4,040,619
<ACCUMULATED-NII-PRIOR>                        482,953
<ACCUMULATED-GAINS-PRIOR>                      741,160
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           39,890
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 73,051
<AVERAGE-NET-ASSETS>                        10,724,958
<PER-SHARE-NAV-BEGIN>                            14.32
<PER-SHARE-NII>                                    .52
<PER-SHARE-GAIN-APPREC>                           1.05
<PER-SHARE-DIVIDEND>                             (.61)
<PER-SHARE-DISTRIBUTIONS>                        (.93)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.35
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 12
   <NAME> GROWTH PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                      143,946,871
<INVESTMENTS-AT-VALUE>                     181,644,175
<RECEIVABLES>                                  595,776
<ASSETS-OTHER>                                 336,320
<OTHER-ITEMS-ASSETS>                             4,410
<TOTAL-ASSETS>                             182,580,681
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      188,599
<TOTAL-LIABILITIES>                            188,599
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   145,653,631
<SHARES-COMMON-STOCK>                        9,580,112
<SHARES-COMMON-PRIOR>                        7,739,999
<ACCUMULATED-NII-CURRENT>                      139,412
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (1,098,265)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    37,697,304
<NET-ASSETS>                               182,392,082
<DIVIDEND-INCOME>                              600,865
<INTEREST-INCOME>                              209,738
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 667,836
<NET-INVESTMENT-INCOME>                        142,767
<REALIZED-GAINS-CURRENT>                   (1,018,414)
<APPREC-INCREASE-CURRENT>                   17,480,202
<NET-CHANGE-FROM-OPS>                       16,604,555
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (265,892)
<DISTRIBUTIONS-OF-GAINS>                   (6,564,799)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,793,343
<NUMBER-OF-SHARES-REDEEMED>                  (312,930)
<SHARES-REINVESTED>                            359,700
<NET-CHANGE-IN-ASSETS>                      43,704,191
<ACCUMULATED-NII-PRIOR>                        262,537
<ACCUMULATED-GAINS-PRIOR>                    6,484,948
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          581,216
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                667,836
<AVERAGE-NET-ASSETS>                       156,275,306
<PER-SHARE-NAV-BEGIN>                            17.92
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                           1.85
<PER-SHARE-DIVIDEND>                             (.03)
<PER-SHARE-DISTRIBUTIONS>                        (.72)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.04
<EXPENSE-RATIO>                                    .86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 13
   <NAME> WORLDWIDE PRIVATIZATION PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       29,397,225
<INVESTMENTS-AT-VALUE>                      32,533,084
<RECEIVABLES>                                  650,613
<ASSETS-OTHER>                                 496,956
<OTHER-ITEMS-ASSETS>                             4,454
<TOTAL-ASSETS>                              33,685,107
<PAYABLE-FOR-SECURITIES>                        84,807
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       33,067
<TOTAL-LIABILITIES>                            117,874
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    28,830,571
<SHARES-COMMON-STOCK>                        2,299,194
<SHARES-COMMON-PRIOR>                        1,432,879
<ACCUMULATED-NII-CURRENT>                      353,492
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,251,624
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     3,131,546
<NET-ASSETS>                                33,567,233
<DIVIDEND-INCOME>                              445,647
<INTEREST-INCOME>                               67,953
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 120,069
<NET-INVESTMENT-INCOME>                        393,531
<REALIZED-GAINS-CURRENT>                     1,257,516
<APPREC-INCREASE-CURRENT>                    1,798,147
<NET-CHANGE-FROM-OPS>                        3,449,194
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (348,486)
<DISTRIBUTIONS-OF-GAINS>                     (421,270)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        852,160
<NUMBER-OF-SHARES-REDEEMED>                   (38,859)
<SHARES-REINVESTED>                             53,014
<NET-CHANGE-IN-ASSETS>                      14,760,420
<ACCUMULATED-NII-PRIOR>                        308,447
<ACCUMULATED-GAINS-PRIOR>                      415,378
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          126,389
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                188,662
<AVERAGE-NET-ASSETS>                        25,487,280
<PER-SHARE-NAV-BEGIN>                            13.13
<PER-SHARE-NII>                                    .21
<PER-SHARE-GAIN-APPREC>                           1.61
<PER-SHARE-DIVIDEND>                             (.16)
<PER-SHARE-DISTRIBUTIONS>                        (.19)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.60
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 14
   <NAME> CONSERVATIVE INVESTORS PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       23,687,418
<INVESTMENTS-AT-VALUE>                      25,275,551
<RECEIVABLES>                                  197,208
<ASSETS-OTHER>                                  64,760
<OTHER-ITEMS-ASSETS>                             4,646
<TOTAL-ASSETS>                              25,542,165
<PAYABLE-FOR-SECURITIES>                         3,781
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       30,250
<TOTAL-LIABILITIES>                             34,031
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    23,570,811
<SHARES-COMMON-STOCK>                        2,055,144
<SHARES-COMMON-PRIOR>                        1,800,117
<ACCUMULATED-NII-CURRENT>                      458,865
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (109,806)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,588,264
<NET-ASSETS>                                25,508,134
<DIVIDEND-INCOME>                               44,310
<INTEREST-INCOME>                              524,220
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 109,164
<NET-INVESTMENT-INCOME>                        459,366
<REALIZED-GAINS-CURRENT>                      (57,133)
<APPREC-INCREASE-CURRENT>                      865,169
<NET-CHANGE-FROM-OPS>                        1,267,402
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (608,411)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        339,803
<NUMBER-OF-SHARES-REDEEMED>                  (133,762)
<SHARES-REINVESTED>                             48,986
<NET-CHANGE-IN-ASSETS>                       3,778,941
<ACCUMULATED-NII-PRIOR>                        607,910
<ACCUMULATED-GAINS-PRIOR>                     (52,673)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           86,182
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                139,254
<AVERAGE-NET-ASSETS>                        23,172,288
<PER-SHARE-NAV-BEGIN>                            12.07
<PER-SHARE-NII>                                    .24
<PER-SHARE-GAIN-APPREC>                            .41
<PER-SHARE-DIVIDEND>                             (.31)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.41
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 15
   <NAME> GROWTH INVESTORS PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       11,141,122
<INVESTMENTS-AT-VALUE>                      12,792,217
<RECEIVABLES>                                  163,826
<ASSETS-OTHER>                                  53,624
<OTHER-ITEMS-ASSETS>                             4,646
<TOTAL-ASSETS>                              13,014,313
<PAYABLE-FOR-SECURITIES>                        82,509
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        7,060
<TOTAL-LIABILITIES>                             89,569
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    11,135,053
<SHARES-COMMON-STOCK>                          954,809
<SHARES-COMMON-PRIOR>                          840,388
<ACCUMULATED-NII-CURRENT>                      100,679
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         37,774
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,651,238
<NET-ASSETS>                                12,924,744
<DIVIDEND-INCOME>                               48,309
<INTEREST-INCOME>                              108,732
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  53,581
<NET-INVESTMENT-INCOME>                        103,460
<REALIZED-GAINS-CURRENT>                        63,103
<APPREC-INCREASE-CURRENT>                      910,085
<NET-CHANGE-FROM-OPS>                        1,076,648
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (180,481)
<DISTRIBUTIONS-OF-GAINS>                     (200,739)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        179,968
<NUMBER-OF-SHARES-REDEEMED>                   (93,806)
<SHARES-REINVESTED>                             28,259
<NET-CHANGE-IN-ASSETS>                       2,215,408
<ACCUMULATED-NII-PRIOR>                        177,700
<ACCUMULATED-GAINS-PRIOR>                      175,410
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           42,301
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 87,751
<AVERAGE-NET-ASSETS>                        11,373,727
<PER-SHARE-NAV-BEGIN>                            12.74
<PER-SHARE-NII>                                    .12
<PER-SHARE-GAIN-APPREC>                           1.10
<PER-SHARE-DIVIDEND>                             (.20)
<PER-SHARE-DISTRIBUTIONS>                        (.22)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.54
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 16
   <NAME> TECNOLOGY PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       41,720,894
<INVESTMENTS-AT-VALUE>                      48,521,404
<RECEIVABLES>                                  210,489
<ASSETS-OTHER>                                 182,025
<OTHER-ITEMS-ASSETS>                            15,344
<TOTAL-ASSETS>                              48,929,262
<PAYABLE-FOR-SECURITIES>                       249,834
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       55,306
<TOTAL-LIABILITIES>                            305,140
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    44,309,314
<SHARES-COMMON-STOCK>                        4,204,793
<SHARES-COMMON-PRIOR>                        2,543,479
<ACCUMULATED-NII-CURRENT>                      109,512
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                    (2,595,214)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     6,800,510
<NET-ASSETS>                                48,624,122
<DIVIDEND-INCOME>                               17,967
<INTEREST-INCOME>                              268,680
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 178,434
<NET-INVESTMENT-INCOME>                        108,213
<REALIZED-GAINS-CURRENT>                   (2,240,054)
<APPREC-INCREASE-CURRENT>                    4,740,716
<NET-CHANGE-FROM-OPS>                        2,608,875
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    (141,660)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      1,902,576
<NUMBER-OF-SHARES-REDEEMED>                  (253,537)
<SHARES-REINVESTED>                             12,275
<NET-CHANGE-IN-ASSETS>                      20,540,691
<ACCUMULATED-NII-PRIOR>                        142,959
<ACCUMULATED-GAINS-PRIOR>                    (355,160)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          187,825
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                233,708
<AVERAGE-NET-ASSETS>                        37,876,334
<PER-SHARE-NAV-BEGIN>                            11.04
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                            .52
<PER-SHARE-DIVIDEND>                             (.03)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.56
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 17
   <NAME> QUASAR PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       30,622,817
<INVESTMENTS-AT-VALUE>                      32,879,905
<RECEIVABLES>                                1,002,225
<ASSETS-OTHER>                                 235,568
<OTHER-ITEMS-ASSETS>                            21,397
<TOTAL-ASSETS>                              34,139,095
<PAYABLE-FOR-SECURITIES>                       739,888
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       39,518
<TOTAL-LIABILITIES>                            779,406
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    30,965,712
<SHARES-COMMON-STOCK>                        2,882,120
<SHARES-COMMON-PRIOR>                          830,749
<ACCUMULATED-NII-CURRENT>                       16,130
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        120,759
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,257,088
<NET-ASSETS>                                33,359,689
<DIVIDEND-INCOME>                               31,120
<INTEREST-INCOME>                               91,088
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  95,136
<NET-INVESTMENT-INCOME>                         27,072
<REALIZED-GAINS-CURRENT>                        95,429
<APPREC-INCREASE-CURRENT>                    2,108,947
<NET-CHANGE-FROM-OPS>                        2,231,448
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (22,104)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      2,101,596
<NUMBER-OF-SHARES-REDEEMED>                   (52,184)
<SHARES-REINVESTED>                              1,959
<NET-CHANGE-IN-ASSETS>                      24,517,872
<ACCUMULATED-NII-PRIOR>                         11,162
<ACCUMULATED-GAINS-PRIOR>                       25,330
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          100,143
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                155,074
<AVERAGE-NET-ASSETS>                        20,194,593
<PER-SHARE-NAV-BEGIN>                            10.64
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                            .93
<PER-SHARE-DIVIDEND>                             (.01)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.57
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 18
   <NAME> REAL ESTATE INVESTMENT PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                        4,591,419
<INVESTMENTS-AT-VALUE>                       4,793,400
<RECEIVABLES>                                   23,715
<ASSETS-OTHER>                                     656
<OTHER-ITEMS-ASSETS>                            18,106
<TOTAL-ASSETS>                               4,835,877
<PAYABLE-FOR-SECURITIES>                        73,335
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       29,410
<TOTAL-LIABILITIES>                            102,745
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     4,475,955
<SHARES-COMMON-STOCK>                          444,274
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                       58,489
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (3,293)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       201,981
<NET-ASSETS>                                 4,733,132
<DIVIDEND-INCOME>                               65,818
<INTEREST-INCOME>                                3,450
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  10,779
<NET-INVESTMENT-INCOME>                         58,489
<REALIZED-GAINS-CURRENT>                       (3,293)
<APPREC-INCREASE-CURRENT>                      201,981
<NET-CHANGE-FROM-OPS>                          257,177
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        469,387
<NUMBER-OF-SHARES-REDEEMED>                   (25,113)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       4,733,132
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           10,212
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 42,432
<AVERAGE-NET-ASSETS>                         2,407,751
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                            .43
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.65
<EXPENSE-RATIO>                                    .95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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