GALAXY FUND II
NSAR-B, 1995-05-26
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<PAGE>      PAGE  1
000 B000000 03/31/95
000 C000000 0000861097
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 GALAXY II (FORMERLY IBM MUTUAL FUNDS)
001 B000000 811-06051
001 C000000 5086245944
002 A000000 440 LINCOLN STREET
002 B000000 WORCESTER
002 C000000 MA
002 D010000 01653
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 LARGE COMPANY INDEX FUND
007 C030100 N
007 C010200  2
007 C020200 SMALL COMPANY INDEX FUND
007 C030200 N
007 C010300  3
007 C020300 U.S. TREASURY INDEX FUND
007 C030300 N
007 C010400  4
007 C020400 UTILITY INDEX FUND
007 C030400 N
007 C010500  5
007 C020500 MUNICIPAL BOND FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 FLEET INVESTMENT ADVISORS INC.
008 B00AA01 A
008 C00AA01 801-00000
008 D01AA01 ROCHESTER
008 D02AA01 NY
008 D03AA01 14604
010 A00AA01 FLEET NATIONAL BANK
010 B00AA01 00000
010 C01AA01 PROVIDENCE
<PAGE>      PAGE  2
010 C02AA01 RI
010 C03AA01 02903
010 C04AA01 2305
010 A00AA02 440 FINANCIAL
010 B00AA02 00000
010 C01AA02 WORCESTER
010 C02AA02 MA
010 C03AA02 01653
011 A00AA01 440 FINANCIAL DISTRIBUTORS, INC.
011 B00AA01 8-00000
011 C01AA01 WORCESTER
011 C02AA01 MA
011 C03AA01 01653
012 A00AA01 440 FINANCIAL
012 B00AA01 84-00000
012 C01AA01 WORCESTER
012 C02AA01 MA
012 C03AA01 01653
013 A00AA01 COOPERS & LYBRAND LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02109
015 A00AA01 CHASE MANHATTAN BANK, N.A.
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10036
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00   29
019 C00AA00 GALAXYFUND
020 A000001 SALOMON BROTHERS
020 C000001     71
020 A000002 GOLDMAN SACHS
020 C000002     55
020 A000003 INVESTMENT TECHNOLOGIES SERVICES
020 C000003     19
020 A000004 JEFFERIES & CO.
020 C000004      7
020 A000005 INSTINET CORP
020 C000005      7
020 A000006 BRADFORD TRUST
020 C000006      3
020 A000007 FIRST BOSTON CORP
020 C000007      3
020 A000008 BEAR STEANS & CO.
020 C000008      2
020 A000009 HOEING & CO., INC.
020 C000009      2
020 A000010 MERRILL LYNCH, PIERCE, FENNER, SMITH
<PAGE>      PAGE  3
020 C000010      1
021  000000      170
022 A000001 CHASE MANHATTAN BANK
022 C000001    386200
022 D000001         0
022 A000002 GOLDMAN SACHS & CO
022 C000002     71082
022 D000002     72669
022 A000003 MERRILL LYNCH, PIERCE, FENNER, SMITH
022 C000003     18075
022 D000003     17320
022 A000004 TRINITY TRADING
022 C000004     19962
022 D000004     13667
022 A000005 CAPITAL INSTITUTIONAL SERVICES
022 C000005     15485
022 D000005     14882
022 A000006 SALOMON BROTHERS INC.
022 C000006      4297
022 D000006     14920
022 A000007 PAINE WEBBER
022 C000007      4368
022 D000007      8354
022 A000008 CLARK & CO.
022 C000008      6987
022 D000008      4675
022 A000009 FIRST BOSTON CORP.
022 C000009         0
022 D000009      9647
022 A000010 SHEARSON LEHMAN HUTTON
022 C000010      3643
022 D000010      3976
023 C000000     530099
023 D000000     160110
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<PAGE>      PAGE  4
032  00AA00      0
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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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<PAGE>      PAGE  19
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070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400      2704
071 B000400     16551
071 C000400     58307
071 D000400    5
072 A000400 12
072 B000400       26
072 C000400     2959
072 D000400        0
072 E000400        0
072 F000400       59
072 G000400      172
072 H000400        0
072 I000400        0
072 J000400        0
072 K000400        0
072 L000400        0
072 M000400        7
072 N000400        0
072 O000400        0
072 P000400        0
072 Q000400        0
072 R000400        0
072 S000400        0
072 T000400        0
072 U000400        0
072 V000400        0
072 W000400        0
072 X000400      238
072 Y000400        0
072 Z000400     2747
072AA000400        0
072BB000400     1051
072CC010400      753
072CC020400        0
<PAGE>      PAGE  20
072DD010400     3192
072DD020400        0
072EE000400        0
073 A010400   0.4600
073 A020400   0.0000
073 B000400   0.0900
073 C000400   0.0000
074 A000400       90
074 B000400      450
074 C000400        0
074 D000400        0
074 E000400        0
074 F000400    52011
074 G000400        0
074 H000400        0
074 I000400        0
074 J000400       55
074 K000400        0
074 L000400      265
074 M000400        0
074 N000400    52871
074 O000400       22
074 P000400       18
074 Q000400        0
074 R010400        0
074 R020400        0
074 R030400        0
074 R040400        0
074 S000400        0
074 T000400    52831
074 U010400     5349
074 U020400        0
074 V010400     9.88
074 V020400     0.00
074 W000400   0.0000
074 X000400     7464
074 Y000400        0
075 A000400        0
075 B000400    59453
076  000400     0.00
028 A010500       139
028 A020500         0
028 A030500         0
028 A040500      1455
028 B010500       153
028 B020500       101
028 B030500         0
028 B040500      1371
028 C010500       150
028 C020500        94
028 C030500         0
<PAGE>      PAGE  21
028 C040500       840
028 D010500       145
028 D020500        97
028 D030500         0
028 D040500       764
028 E010500       162
028 E020500        93
028 E030500         0
028 E040500       581
028 F010500       161
028 F020500       173
028 F030500         0
028 F040500       829
028 G010500       910
028 G020500       558
028 G030500         0
028 G040500      5840
028 H000500         0
045  000500 Y
046  000500 Y
047  000500 Y
048  000500  0.250
048 A010500        0
048 A020500 0.000
048 B010500        0
048 B020500 0.000
048 C010500        0
048 C020500 0.000
048 D010500        0
048 D020500 0.000
048 E010500        0
048 E020500 0.000
048 F010500        0
048 F020500 0.000
048 G010500        0
048 G020500 0.000
048 H010500        0
048 H020500 0.000
048 I010500        0
048 I020500 0.000
048 J010500        0
048 J020500 0.000
048 K010500        0
048 K020500 0.000
055 A000500 Y
055 B000500 N
056  000500 Y
057  000500 N
062 A000500 Y
062 B000500   0.0
062 C000500   0.0
<PAGE>      PAGE  22
062 D000500   0.0
062 E000500   0.0
062 F000500   0.0
062 G000500   0.0
062 H000500   0.0
062 I000500   0.0
062 J000500   0.0
062 K000500   0.0
062 L000500   0.0
062 M000500   0.0
062 N000500   0.0
062 O000500  97.0
062 P000500   0.0
062 Q000500   0.0
062 R000500   3.0
063 A000500   0
063 B000500  9.1
064 A000500 N
066 A000500 N
067  000500 N
068 A000500 N
068 B000500 N
069  000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 Y
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
<PAGE>      PAGE  23
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500     12922
071 B000500     22950
071 C000500     27750
071 D000500   47
072 A000500 12
072 B000500     1506
072 C000500        0
072 D000500        0
072 E000500        0
072 F000500       71
072 G000500       92
072 H000500        0
072 I000500        0
072 J000500        0
072 K000500        0
072 L000500        0
072 M000500        7
072 N000500        0
072 O000500        0
072 P000500        0
072 Q000500        0
072 R000500        0
072 S000500        0
072 T000500        0
072 U000500        0
072 V000500        0
072 W000500        0
072 X000500      170
072 Y000500        0
072 Z000500     1336
072AA000500        0
072BB000500     1072
072CC010500     1014
072CC020500        0
072DD010500     1327
072DD020500        0
072EE000500        0
073 A010500   0.4600
073 A020500   0.0000
073 B000500   0.0000
073 C000500   0.0000
074 A000500      307
074 B000500        0
<PAGE>      PAGE  24
074 C000500        0
074 D000500    23847
074 E000500        0
074 F000500        0
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500       60
074 K000500        0
074 L000500      372
074 M000500        0
074 N000500    24586
074 O000500        0
074 P000500       11
074 Q000500        0
074 R010500       15
074 R020500        0
074 R030500        0
074 R040500        0
074 S000500        0
074 T000500    24560
074 U010500     2470
074 U020500        0
074 V010500     9.94
074 V020500     0.00
074 W000500   0.0000
074 X000500     1497
074 Y000500        0
075 A000500        0
075 B000500    28291
076  000500     0.00
SIGNATURE   LOUIS J. RUSSO                               
TITLE       ASSISTANT TREASURER 
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 2
   <NAME> SMALL COMPANY INDEX
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1995
<PERIOD-END>                               MAR-31-1995
<INVESTMENTS-AT-COST>                        200976119
<INVESTMENTS-AT-VALUE>                       233233446
<RECEIVABLES>                                  2371970
<ASSETS-OTHER>                                   56379
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               235661795
<PAYABLE-FOR-SECURITIES>                          1079
<SENIOR-LONG-TERM-DEBT>                         366002
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                             367081
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     201040783
<SHARES-COMMON-STOCK>                         13353848
<SHARES-COMMON-PRIOR>                         14598522
<ACCUMULATED-NII-CURRENT>                      1068291
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         833823
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      32351917
<NET-ASSETS>                                 235294714
<DIVIDEND-INCOME>                              4847479
<INTEREST-INCOME>                               255487
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  966384
<NET-INVESTMENT-INCOME>                        4136582
<REALIZED-GAINS-CURRENT>                       5469858
<APPREC-INCREASE-CURRENT>                      7352947
<NET-CHANGE-FROM-OPS>                         16959387
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      4172587
<DISTRIBUTIONS-OF-GAINS>                      10375944
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       31022102
<NUMBER-OF-SHARES-REDEEMED>                   67632588
<SHARES-REINVESTED>                           14147774
<NET-CHANGE-IN-ASSETS>                      (20051856)
<ACCUMULATED-NII-PRIOR>                        1104296
<ACCUMULATED-GAINS-PRIOR>                      5739809
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           240993
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 966384
<AVERAGE-NET-ASSETS>                         240992766
<PER-SHARE-NAV-BEGIN>                            17.49
<PER-SHARE-NII>                                   0.32
<PER-SHARE-GAIN-APPREC>                           0.91
<PER-SHARE-DIVIDEND>                              0.32
<PER-SHARE-DISTRIBUTIONS>                         0.78
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              17.62
<EXPENSE-RATIO>                                   0.40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> LARGE COMPANY INDEX
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1995
<PERIOD-END>                               MAR-31-1995
<INVESTMENTS-AT-COST>                        120471736
<INVESTMENTS-AT-VALUE>                       147478085
<RECEIVABLES>                                   525132
<ASSETS-OTHER>                                   85812
<OTHER-ITEMS-ASSETS>                           0
<TOTAL-ASSETS>                               148089029
<PAYABLE-FOR-SECURITIES>                        335774
<SENIOR-LONG-TERM-DEBT>                        0
<OTHER-ITEMS-LIABILITIES>                       156065
<TOTAL-LIABILITIES>                             491839
<SENIOR-EQUITY>                                0
<PAID-IN-CAPITAL-COMMON>                     118640173
<SHARES-COMMON-STOCK>                          9363692
<SHARES-COMMON-PRIOR>                         10012613
<ACCUMULATED-NII-CURRENT>                        69183
<OVERDISTRIBUTION-NII>                         0
<ACCUMULATED-NET-GAINS>                        1756775
<OVERDISTRIBUTION-GAINS>                       0
<ACCUM-APPREC-OR-DEPREC>                      27131059
<NET-ASSETS>                                 147597190
<DIVIDEND-INCOME>                              3964179
<INTEREST-INCOME>                               129026
<OTHER-INCOME>                                 0
<EXPENSES-NET>                                  568862
<NET-INVESTMENT-INCOME>                        3524343
<REALIZED-GAINS-CURRENT>                       3346885
<APPREC-INCREASE-CURRENT>                     13110963
<NET-CHANGE-FROM-OPS>                         19972191
<EQUALIZATION>                                 0
<DISTRIBUTIONS-OF-INCOME>                      3497258
<DISTRIBUTIONS-OF-GAINS>                       3053288
<DISTRIBUTIONS-OTHER>                          0
<NUMBER-OF-SHARES-SOLD>                       21883550
<NUMBER-OF-SHARES-REDEEMED>                   37812470
<SHARES-REINVESTED>                            6276842
<NET-CHANGE-IN-ASSETS>                         3769567
<ACCUMULATED-NII-PRIOR>                          45022
<ACCUMULATED-GAINS-PRIOR>                      1459211
<OVERDISTRIB-NII-PRIOR>                        0
<OVERDIST-NET-GAINS-PRIOR>                     0
<GROSS-ADVISORY-FEES>                           141877
<INTEREST-EXPENSE>                             0
<GROSS-EXPENSE>                                 568862
<AVERAGE-NET-ASSETS>                         141876683
<PER-SHARE-NAV-BEGIN>                            14.36
<PER-SHARE-NII>                                   0.37
<PER-SHARE-GAIN-APPREC>                           1.73
<PER-SHARE-DIVIDEND>                              0.37
<PER-SHARE-DISTRIBUTIONS>                         0.33
<RETURNS-OF-CAPITAL>                           0
<PER-SHARE-NAV-END>                              15.76
<EXPENSE-RATIO>                                   0.40
<AVG-DEBT-OUTSTANDING>                         0
<AVG-DEBT-PER-SHARE>                           0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 5
   <NAME> MUNICIPAL BOND
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1995
<PERIOD-END>                               MAR-31-1995
<INVESTMENTS-AT-COST>                         23889546
<INVESTMENTS-AT-VALUE>                        23847238
<RECEIVABLES>                                   432493
<ASSETS-OTHER>                                  306750
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                24586481
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        26887
<TOTAL-LIABILITIES>                              26887
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      25715171
<SHARES-COMMON-STOCK>                          2470442
<SHARES-COMMON-PRIOR>                          3371157
<ACCUMULATED-NII-CURRENT>                        21592
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       1134861
<ACCUM-APPREC-OR-DEPREC>                       (42308)
<NET-ASSETS>                                  24559594
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              1505836
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  170244
<NET-INVESTMENT-INCOME>                        1335592
<REALIZED-GAINS-CURRENT>                     (1071810)
<APPREC-INCREASE-CURRENT>                      1013967
<NET-CHANGE-FROM-OPS>                          1277749
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      1326592
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        3245583
<NUMBER-OF-SHARES-REDEEMED>                   13198640
<SHARES-REINVESTED>                            1209050
<NET-CHANGE-IN-ASSETS>                       (8792850)
<ACCUMULATED-NII-PRIOR>                          12592
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                       63051
<GROSS-ADVISORY-FEES>                            70726
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 170244
<AVERAGE-NET-ASSETS>                          28290512
<PER-SHARE-NAV-BEGIN>                             9.89
<PER-SHARE-NII>                                   0.46
<PER-SHARE-GAIN-APPREC>                           0.05
<PER-SHARE-DIVIDEND>                              0.46
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.94
<EXPENSE-RATIO>                                   0.60
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 3
   <NAME> U.S. TREASURY INDEX
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1995
<PERIOD-END>                               MAR-31-1995
<INVESTMENTS-AT-COST>                        103806585
<INVESTMENTS-AT-VALUE>                       102595727
<RECEIVABLES>                                  1849596
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               104445323
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       194638
<TOTAL-LIABILITIES>                             194638
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     111199262
<SHARES-COMMON-STOCK>                         10517703
<SHARES-COMMON-PRIOR>                         13322915
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           67975
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       5669744
<ACCUM-APPREC-OR-DEPREC>                     (1210858)
<NET-ASSETS>                                 104250685
<DIVIDEND-INCOME>                                35333
<INTEREST-INCOME>                              7921950
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  467999
<NET-INVESTMENT-INCOME>                        7489284
<REALIZED-GAINS-CURRENT>                     (3631305)
<APPREC-INCREASE-CURRENT>                     (227559)
<NET-CHANGE-FROM-OPS>                          3630420
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      7656260
<DISTRIBUTIONS-OF-GAINS>                       1789194
<DISTRIBUTIONS-OTHER>                            55162
<NUMBER-OF-SHARES-SOLD>                       12236048
<NUMBER-OF-SHARES-REDEEMED>                   48812779
<SHARES-REINVESTED>                            8472368
<NET-CHANGE-IN-ASSETS>                      (33974559)
<ACCUMULATED-NII-PRIOR>                          93186
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                      243430
<GROSS-ADVISORY-FEES>                           116528
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 467999
<AVERAGE-NET-ASSETS>                         116528279
<PER-SHARE-NAV-BEGIN>                            10.38
<PER-SHARE-NII>                                   0.65
<PER-SHARE-GAIN-APPREC>                         (0.29)
<PER-SHARE-DIVIDEND>                              0.67
<PER-SHARE-DISTRIBUTIONS>                         0.16
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.91
<EXPENSE-RATIO>                                   0.40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 4
   <NAME> UTILITY INDEX
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1995
<PERIOD-END>                               MAR-31-1995
<INVESTMENTS-AT-COST>                         59111117
<INVESTMENTS-AT-VALUE>                        52461713
<RECEIVABLES>                                   320080
<ASSETS-OTHER>                                   89720
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                52871513
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        40401
<TOTAL-LIABILITIES>                              40401
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      60465477
<SHARES-COMMON-STOCK>                          5348862
<SHARES-COMMON-PRIOR>                          6848699
<ACCUMULATED-NII-CURRENT>                       109901
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                       1094862
<ACCUM-APPREC-OR-DEPREC>                     (6649404)
<NET-ASSETS>                                  52831112
<DIVIDEND-INCOME>                              2958954
<INTEREST-INCOME>                                26080
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  238485
<NET-INVESTMENT-INCOME>                        2746549
<REALIZED-GAINS-CURRENT>                     (1051438)
<APPREC-INCREASE-CURRENT>                       753302
<NET-CHANGE-FROM-OPS>                          2448413
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      2658065
<DISTRIBUTIONS-OF-GAINS>                        534123
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        7273913
<NUMBER-OF-SHARES-REDEEMED>                   25043953
<SHARES-REINVESTED>                            2900165
<NET-CHANGE-IN-ASSETS>                        52831112
<ACCUMULATED-NII-PRIOR>                          21417
<ACCUMULATED-GAINS-PRIOR>                       490699
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           238485
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  59453
<AVERAGE-NET-ASSETS>                          59453037
<PER-SHARE-NAV-BEGIN>                             9.99
<PER-SHARE-NII>                                   0.47
<PER-SHARE-GAIN-APPREC>                         (0.03)
<PER-SHARE-DIVIDEND>                              0.46
<PER-SHARE-DISTRIBUTIONS>                         0.09
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.88
<EXPENSE-RATIO>                                   0.40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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