<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from FFTW
financial statements at June 30, 2000
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 008
<NAME> Mortgage-Backed Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 505,422,834
<INVESTMENTS-AT-VALUE> 503,309,057
<RECEIVABLES> 104,272,719
<ASSETS-OTHER> 512
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 607,582,288
<PAYABLE-FOR-SECURITIES> 272,707,716
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21,360,087
<TOTAL-LIABILITIES> 294,067,803
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 343,255,840
<SHARES-COMMON-STOCK> 32,567,615
<SHARES-COMMON-PRIOR> 30,939,935
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 224,949
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 27,437,744
<ACCUM-APPREC-OR-DEPREC> (2,078,662)
<NET-ASSETS> 313,514,485
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11,528,296
<OTHER-INCOME> 0
<EXPENSES-NET> 378,572
<NET-INVESTMENT-INCOME> 11,149,724
<REALIZED-GAINS-CURRENT> (3,148,892)
<APPREC-INCREASE-CURRENT> 4,838,173
<NET-CHANGE-FROM-OPS> 12,839,005
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 12,977,503
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,614,052
<NUMBER-OF-SHARES-REDEEMED> 2,343,817
<SHARES-REINVESTED> 1,357,445
<NET-CHANGE-IN-ASSETS> 15,249,287
<ACCUMULATED-NII-PRIOR> 1,602,830
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 24,288,852
<GROSS-ADVISORY-FEES> 452,385
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 682,864
<AVERAGE-NET-ASSETS> 303,335,571
<PER-SHARE-NAV-BEGIN> 9.64
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 0.06
<PER-SHARE-DIVIDEND> 0.42
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.63
<EXPENSE-RATIO> 0.25
</TABLE>
