<PAGE> PAGE 1
000 A000000 04/30/96
000 C000000 863334
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 PIONEER GROWTH TRUST
001 B000000 811-6106
001 C000000 6177427825
002 A000000 60 STATE STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
002 D020000 1820
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 PIONEER CAPITAL GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 PIONEER EQUITY-INCOME FUND
007 C030200 N
007 C010300 3
007 C020300 PIONEER GOLD SHARES
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 PIONEERING MANAGEMENT CORPORATION
008 B00AA01 A
008 C00AA01 801-8255
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02109
008 D04AA01 1820
011 A00AA01 PIONEER FUNDS DISTRIBUTOR, INC.
011 B00AA01 8-41256
011 C01AA01 BOSTON
011 C02AA01 MA
011 C03AA01 02109
<PAGE> PAGE 2
011 C04AA01 1820
012 A00AA01 PIONEERING SERVICES CORPORATION
012 B00AA01 84-1359
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02109
012 C04AA01 1820
013 A00AA01 ARTHUR ANDERSEN LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
013 B04AA01 2604
015 B00AA01 C
015 A00AA02 BROWN BROTHERS HARRIMAN & CO.
015 B00AA02 C
015 C01AA02 BOSTON
015 C02AA02 MA
015 C03AA02 02109
015 C04AA02 1975
015 E01AA02 X
015 A00AA03 NATIONAL AUSTRALIA BANK LTD.
015 B00AA03 S
015 C01AA03 MELBOURNE 3000
015 D01AA03 AUSTRALIA
015 D02AA03 3000
015 E04AA03 X
015 A00AA04 CREDITANSTALT BANK VEREIN
015 B00AA04 S
015 C01AA04 VIENNA A-1090
015 D01AA04 AUSTRIA
015 D02AA04 A-1090
015 E04AA04 X
015 A00AA05 BANQUES BRUXELLES LAMBERT SA
015 B00AA05 S
015 C01AA05 BRUSSELS 1040
015 D01AA05 BELGUIM
015 D02AA05 1040
015 E04AA05 X
015 A00AA06 DEN DANSKE BANK, COPENHAGEN
015 B00AA06 S
015 C01AA06 COPENHAGEN
015 D01AA06 DENMARK
015 E04AA06 X
015 A00AA07 UNION BANK OF FINLAND
015 B00AA07 S
015 C01AA07 HELSINKI
015 D01AA07 FINLAND
015 E04AA07 X
015 A00AA08 MORGAN GUARANTY TRUST CO. PARIS
015 B00AA08 S
015 C01AA08 PARIS 75001
<PAGE> PAGE 3
015 D01AA08 FRANCE
015 D02AA08 75001
015 E04AA08 X
015 A00AA09 DRESDNER BANK FRANKFURT
015 B00AA09 S
015 C01AA09 FRANKFORT 17
015 D01AA09 GERMANY
015 D02AA09 60325
015 E04AA09 X
015 A00AA10 CHASE MANHATTAN BANK, N.A.
015 B00AA10 S
015 C01AA10 HONG KONG
015 D01AA10 HONG KONG
015 E04AA10 X
015 A00AA11 BANCA COMMERCIALE ITALIANA, MILAN
015 B00AA11 S
015 C01AA11 20121 MILAN
015 D01AA11 ITALY
015 D02AA11 20121
015 E04AA11 X
015 A00AA12 THE SUMITOMO TRUST & BANKING CO. LTD.
015 B00AA12 S
015 C01AA12 TOKYO 100
015 D01AA12 JAPAN
015 D02AA12 100
015 E04AA12 X
015 A00AA13 HONG KONG & SHANGHAI BANKING CORP.
015 B00AA13 S
015 C01AA13 KUALA LAMPUR 50100
015 D01AA13 MALAYSIA
015 D02AA13 50100
015 E04AA13 X
015 A00AA14 ABN/AMRO BANK
015 B00AA14 S
015 C01AA14 BREDA
015 D01AA14 THE NETHERLANDS
015 E04AA14 X
015 A00AA15 DEN NORSKE CREDITBANK, OSLO
015 B00AA15 S
015 C01AA15 N-0107
015 D01AA15 NORWAY
015 E04AA15 X
015 A00AA16 CITIBANK N.A.
015 B00AA16 S
015 C01AA16 MAKATI, MANILA
015 D01AA16 PHILLIPINES
015 E04AA16 X
015 A00AA17 BANCO ESPIRITO SANTO COMMERCIAL DE LISBOA
015 B00AA17 S
015 C01AA17 1200 LISBON
015 D01AA17 PORTUGAL
<PAGE> PAGE 4
015 E04AA17 X
015 A00AA18 BANCO DE SANTANDER, MADRID
015 B00AA18 S
015 C01AA18 MADRID 28022
015 D01AA18 SPAIN
015 D02AA18 28022
015 E04AA18 X
015 A00AA19 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA19 S
015 C01AA19 STOCKHOLM,S-10640
015 D01AA19 SWEDEN
015 D02AA19 S-10640
015 E04AA19 X
015 A00AA20 SWISS BANK CORP.
015 B00AA20 S
015 C01AA20 ZURICH
015 D01AA20 SWITZERLAND
015 D02AA20 CH-8022
015 E04AA20 X
015 A00AA21 MORGAN GUARANTY TRUST CO. LONDON
015 B00AA21 S
015 C01AA21 LONDON
015 D01AA21 U.K.
015 D02AA21 EC4YOJT
015 E04AA21 X
015 A00AA22 CITIBANK, N.A.
015 B00AA22 S
015 C01AA22 MEXICO CITY
015 D01AA22 MEXICO
015 D02AA22 06695
015 E04AA22 X
015 A00AA23 CHASE MANHATTAN BANK
015 B00AA23 S
015 C01AA23 0104 SINGAPORE
015 D01AA23 SINGAPORE
015 E04AA23 X
015 A00AA24 CITIBANK, N.A.
015 B00AA24 S
015 C01AA24 SEOUL 110
015 D01AA24 SOUTH KOREA
015 E04AA24 X
015 A00AA25 HONGKONG & SHAGHAI BANKING CORP
015 B00AA25 S
015 C01AA25 BANGKOK 10500
015 D01AA25 THAILAND
015 E04AA25 X
015 A00AA26 STANDARD CHARTERED BANK TAIPEI BRANCH
015 B00AA26 S
015 C01AA26 TAIPEI
015 D01AA26 TAIWAN,R.O.C.
015 E04AA26 X
<PAGE> PAGE 5
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 30
019 C00AA00 PIONEERFDS
020 A000001 MORGAN STANLEY
020 B000001 13-2655998
020 C000001 148
020 A000002 EQUITABLE SECURITIES
020 B000002 62-0871146
020 C000002 114
020 A000003 PRUDENTIAL SECURITIES
020 B000003 22-2347336
020 C000003 95
020 A000004 EDWARDS (A.G.)
020 B000004 43-0895447
020 C000004 76
020 A000005 LEHMAN BROTHERS
020 B000005 13-2518466
020 C000005 67
020 A000006 SALOMON BROTHERS
020 B000006 13-3082694
020 C000006 64
020 A000007 BEAR STEARNS
020 B000007 13-3299429
020 C000007 64
020 A000008 CHICAGO CORP.
020 B000008 36-2549961
020 C000008 63
020 A000009 DONALDSON & CORP. S/D
020 B000009 13-2741729
020 C000009 59
020 A000010 JEFFRIES & CO.
020 B000010 95-2622900
020 C000010 56
021 000000 2137
022 A000001 HOUSEHOLD FINANCE
022 B000001 36-1239445
022 C000001 613683
022 D000001 33910
022 A000002 PRUDENTIAL FUNDING
022 B000002 22-2347336
022 C000002 479959
022 D000002 0
022 A000003 FORD MOTOR CREDIT
022 B000003 52-0883351
022 C000003 448673
022 D000003 28792
022 A000004 NORWEST FINANCIAL
022 B000004 41-1507298
022 C000004 352665
022 D000004 39570
<PAGE> PAGE 6
022 A000005 CHEVRON OIL FINANCE
022 B000005 25-1215010
022 C000005 388284
022 D000005 0
022 A000006 COMMERCIAL CREDIT
022 C000006 374084
022 D000006 0
022 A000007 EXXON CREDIT CORP.
022 B000007 13-3072652
022 C000007 332504
022 D000007 0
022 A000008 AMERICAN EXPRESS
022 B000008 11-1988350
022 C000008 276425
022 D000008 0
022 A000009 GE CAPITAL CORP.
022 B000009 13-1500700
022 C000009 234982
022 D000009 0
022 A000010 TEXACO, INC.NCIAL
022 B000010 74-1383447
022 C000010 204248
022 D000010 0
023 C000000 4487257
023 D000000 258421
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
045 00AA00 Y
046 00AA00 N
047 00AA00 Y
048 00AA00 0.000
048 A01AA00 300000
048 A02AA00 0.650
048 B01AA00 200000
<PAGE> PAGE 7
048 B02AA00 0.600
048 C01AA00 500000
048 C02AA00 0.500
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 1000000
048 K02AA00 0.450
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 Y
054 O00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
<PAGE> PAGE 8
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
077 A000000 N
078 000000 N
080 C00AA00 0
081 A00AA00 N
081 B00AA00 0
082 A00AA00 N
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 63032
028 A020100 0
028 A030100 0
028 A040100 14773
028 B010100 80442
028 B020100 108676
028 B030100 0
028 B040100 28957
028 C010100 96532
028 C020100 156
028 C030100 0
028 C040100 29034
028 D010100 81090
028 D020100 0
028 D030100 0
028 D040100 35980
028 E010100 97735
028 E020100 1
028 E030100 0
028 E040100 40675
028 F010100 106690
028 F020100 3
<PAGE> PAGE 9
028 F030100 0
028 F040100 50014
028 G010100 525521
028 G020100 108836
028 G030100 0
028 G040100 199433
028 H000100 152877
029 000100 Y
030 A000100 7568
030 B000100 5.75
030 C000100 0.00
031 A000100 990
031 B000100 0
032 000100 6578
033 000100 0
034 000100 Y
035 000100 285
036 A000100 N
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 100
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 3196
044 000100 73
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
066 A000100 Y
066 B000100 N
066 C000100 Y
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
<PAGE> PAGE 10
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 649175
071 B000100 271052
071 C000100 1147262
071 D000100 24
072 A000100 6
072 B000100 7121
072 C000100 3632
072 D000100 0
072 E000100 0
072 F000100 3686
072 G000100 0
072 H000100 0
<PAGE> PAGE 11
072 I000100 1458
072 J000100 61
072 K000100 0
072 L000100 30
072 M000100 14
072 N000100 323
072 O000100 0
072 P000100 0
072 Q000100 41
072 R000100 15
072 S000100 8
072 T000100 3196
072 U000100 0
072 V000100 0
072 W000100 32
072 X000100 8864
072 Y000100 0
072 Z000100 1889
072AA000100 47532
072BB000100 0
072CC010100 185382
072CC020100 0
072DD010100 4039
072DD020100 281
072EE000100 118488
073 A010100 0.0883
073 A020100 0.0156
073 B000100 1.8743
073 C000100 0.0000
074 A000100 91
074 B000100 0
074 C000100 175814
074 D000100 0
074 E000100 0
074 F000100 1506358
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 14525
074 K000100 0
074 L000100 16077
074 M000100 29
074 N000100 1712894
074 O000100 6397
074 P000100 1032
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1459
074 S000100 0
<PAGE> PAGE 12
074 T000100 1704006
074 U010100 57712
074 U020100 24578
074 V010100 20.70
074 V020100 20.44
074 W000100 0.0000
074 X000100 121625
074 Y000100 0
075 A000100 0
075 B000100 1400959
076 000100 0.00
028 A010200 17615
028 A020200 1
028 A030200 0
028 A040200 5944
028 B010200 20237
028 B020200 4478
028 B030200 0
028 B040200 6860
028 C010200 21447
028 C020200 9
028 C030200 0
028 C040200 7896
028 D010200 19182
028 D020200 0
028 D030200 0
028 D040200 8180
028 E010200 20173
028 E020200 2087
028 E030200 0
028 E040200 5464
028 F010200 21093
028 F020200 0
028 F030200 0
028 F040200 9927
028 G010200 119747
028 G020200 6575
028 G030200 0
028 G040200 44271
028 H000200 36614
029 000200 Y
030 A000200 1697
030 B000200 5.75
030 C000200 0.00
031 A000200 223
031 B000200 0
032 000200 1474
033 000200 0
034 000200 Y
035 000200 38
036 A000200 N
<PAGE> PAGE 13
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 100
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 779
044 000200 11
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 Y
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
<PAGE> PAGE 14
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 152854
071 B000200 73297
071 C000200 367094
071 D000200 20
072 A000200 6
072 B000200 155
072 C000200 7539
072 D000200 0
072 E000200 0
072 F000200 1183
072 G000200 0
072 H000200 0
072 I000200 338
072 J000200 37
072 K000200 0
072 L000200 25
072 M000200 9
072 N000200 125
072 O000200 0
072 P000200 0
072 Q000200 35
072 R000200 16
072 S000200 8
072 T000200 779
072 U000200 0
072 V000200 0
072 W000200 15
072 X000200 2570
072 Y000200 0
072 Z000200 5124
<PAGE> PAGE 15
072AA000200 4973
072BB000200 0
072CC010200 24569
072CC020200 0
072DD010200 3653
072DD020200 903
072EE000200 2581
073 A010200 0.2473
073 A020200 0.2045
073 B000200 0.1418
073 C000200 0.0000
074 A000200 204
074 B000200 0
074 C000200 0
074 D000200 2404
074 E000200 15439
074 F000200 399664
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 269
074 K000200 0
074 L000200 4063
074 M000200 3
074 N000200 422046
074 O000200 751
074 P000200 259
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 1045
074 S000200 0
074 T000200 419991
074 U010200 15772
074 U020200 5446
074 V010200 19.75
074 V020200 19.65
074 W000200 0.0000
074 X000200 28210
074 Y000200 0
075 A000200 0
075 B000200 370607
076 000200 0.00
028 A010300 2553
028 A020300 0
028 A030300 0
028 A040300 2183
028 B010300 1158
028 B020300 0
028 B030300 0
<PAGE> PAGE 16
028 B040300 1114
028 C010300 6032
028 C020300 0
028 C030300 0
028 C040300 3285
028 D010300 7393
028 D020300 0
028 D030300 0
028 D040300 2747
028 E010300 3608
028 E020300 0
028 E030300 0
028 E040300 1552
028 F010300 3126
028 F020300 0
028 F030300 0
028 F040300 3986
028 G010300 23870
028 G020300 0
028 G030300 0
028 G040300 14867
028 H000300 7122
029 000300 Y
030 A000300 295
030 B000300 5.75
030 C000300 0.00
031 A000300 40
031 B000300 0
032 000300 255
033 000300 0
034 000300 Y
035 000300 8
036 A000300 N
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 100
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 54
044 000300 5
049 000300 N
050 000300 N
<PAGE> PAGE 17
051 000300 N
052 000300 N
053 A000300 Y
053 B000300 Y
053 C000300 N
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 Y
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
<PAGE> PAGE 18
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 11981
071 B000300 3544
071 C000300 32218
071 D000300 11
072 A000300 6
072 B000300 103
072 C000300 174
072 D000300 0
072 E000300 0
072 F000300 117
072 G000300 0
072 H000300 0
072 I000300 40
072 J000300 11
072 K000300 0
072 L000300 9
072 M000300 6
072 N000300 45
072 O000300 0
072 P000300 0
072 Q000300 34
072 R000300 7
072 S000300 6
072 T000300 54
072 U000300 0
072 V000300 0
072 W000300 9
072 X000300 338
072 Y000300 22
072 Z000300 -39
072AA000300 340
072BB000300 0
072CC010300 7557
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 1
074 B000300 0
074 C000300 3073
074 D000300 0
074 E000300 0
<PAGE> PAGE 19
074 F000300 39717
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 294
074 M000300 10
074 N000300 43095
074 O000300 0
074 P000300 49
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 12
074 S000300 0
074 T000300 43034
074 U010300 4311
074 U020300 525
074 V010300 8.85
074 V020300 8.71
074 W000300 0.0000
074 X000300 3580
074 Y000300 0
075 A000300 0
075 B000300 35747
076 000300 0.00
SIGNATURE ROBERT P. NAULT
TITLE ASSISTANT SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 011
<NAME> PIONEER CAPITAL GROWTH TRUST CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 1443687
<INVESTMENTS-AT-VALUE> 1682172
<RECEIVABLES> 30602
<ASSETS-OTHER> 91
<OTHER-ITEMS-ASSETS> 29
<TOTAL-ASSETS> 1712894
<PAYABLE-FOR-SECURITIES> 6397
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2491
<TOTAL-LIABILITIES> 8888
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1417923
<SHARES-COMMON-STOCK> 57712
<SHARES-COMMON-PRIOR> 43541
<ACCUMULATED-NII-CURRENT> 854
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 46744
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 238485
<NET-ASSETS> 1704006
<DIVIDEND-INCOME> 3632
<INTEREST-INCOME> 7121
<OTHER-INCOME> 0
<EXPENSES-NET> (8864)
<NET-INVESTMENT-INCOME> 1889
<REALIZED-GAINS-CURRENT> 47532
<APPREC-INCREASE-CURRENT> 185382
<NET-CHANGE-FROM-OPS> 234803
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4039)
<DISTRIBUTIONS-OF-GAINS> (85511)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18501
<NUMBER-OF-SHARES-REDEEMED> 8795
<SHARES-REINVESTED> 4464
<NET-CHANGE-IN-ASSETS> 546919
<ACCUMULATED-NII-PRIOR> 3285
<ACCUMULATED-GAINS-PRIOR> 117700
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3686
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8969
<AVERAGE-NET-ASSETS> 999883
<PER-SHARE-NAV-BEGIN> 19.42
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 3.20
<PER-SHARE-DIVIDEND> (0.09)
<PER-SHARE-DISTRIBUTIONS> (1.87)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.70
<EXPENSE-RATIO> 1.07
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 012
<NAME> PIONEER CAPITAL GROWTH TRUST CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 1443687
<INVESTMENTS-AT-VALUE> 1682172
<RECEIVABLES> 30602
<ASSETS-OTHER> 91
<OTHER-ITEMS-ASSETS> 29
<TOTAL-ASSETS> 1712894
<PAYABLE-FOR-SECURITIES> 6397
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2491
<TOTAL-LIABILITIES> 8888
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1417923
<SHARES-COMMON-STOCK> 24578
<SHARES-COMMON-PRIOR> 16233
<ACCUMULATED-NII-CURRENT> 854
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 46744
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 238485
<NET-ASSETS> 1704006
<DIVIDEND-INCOME> 3632
<INTEREST-INCOME> 7121
<OTHER-INCOME> 0
<EXPENSES-NET> (8864)
<NET-INVESTMENT-INCOME> 1889
<REALIZED-GAINS-CURRENT> 47532
<APPREC-INCREASE-CURRENT> 185382
<NET-CHANGE-FROM-OPS> 234803
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (281)
<DISTRIBUTIONS-OF-GAINS> (32977)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8439
<NUMBER-OF-SHARES-REDEEMED> 1559
<SHARES-REINVESTED> 1465
<NET-CHANGE-IN-ASSETS> 546919
<ACCUMULATED-NII-PRIOR> 3285
<ACCUMULATED-GAINS-PRIOR> 117700
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3686
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8969
<AVERAGE-NET-ASSETS> 393475
<PER-SHARE-NAV-BEGIN> 19.20
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 3.15
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> (1.87)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.44
<EXPENSE-RATIO> 1.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 013
<NAME> PIONEER CAPITAL GROWTH TRUST CLASS C
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 1443687
<INVESTMENTS-AT-VALUE> 1682172
<RECEIVABLES> 30602
<ASSETS-OTHER> 91
<OTHER-ITEMS-ASSETS> 29
<TOTAL-ASSETS> 1712894
<PAYABLE-FOR-SECURITIES> 6397
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2491
<TOTAL-LIABILITIES> 8888
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1417923
<SHARES-COMMON-STOCK> 356
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 854
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 46744
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 238485
<NET-ASSETS> 1704006
<DIVIDEND-INCOME> 3632
<INTEREST-INCOME> 7121
<OTHER-INCOME> 0
<EXPENSES-NET> (8864)
<NET-INVESTMENT-INCOME> 1889
<REALIZED-GAINS-CURRENT> 47532
<APPREC-INCREASE-CURRENT> 185382
<NET-CHANGE-FROM-OPS> 234803
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 360
<NUMBER-OF-SHARES-REDEEMED> 3
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 546919
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3686
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8969
<AVERAGE-NET-ASSETS> 2808
<PER-SHARE-NAV-BEGIN> 18.69
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 1.75
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.43
<EXPENSE-RATIO> 1.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 021
<NAME> PIONEER EQUITY INCOME CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 354322881
<INVESTMENTS-AT-VALUE> 417506631
<RECEIVABLES> 4332254
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 3442
<TOTAL-ASSETS> 421842327
<PAYABLE-FOR-SECURITIES> 751175
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1304621
<TOTAL-LIABILITIES> 2055796
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 350918472
<SHARES-COMMON-STOCK> 15771862
<SHARES-COMMON-PRIOR> 13722376
<ACCUMULATED-NII-CURRENT> 1038785
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4849505
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 63183750
<NET-ASSETS> 419990512
<DIVIDEND-INCOME> 7538623
<INTEREST-INCOME> 155242
<OTHER-INCOME> 0
<EXPENSES-NET> (2569491)
<NET-INVESTMENT-INCOME> 5124374
<REALIZED-GAINS-CURRENT> 4973144
<APPREC-INCREASE-CURRENT> 24569307
<NET-CHANGE-FROM-OPS> 34666825
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3653277)
<DISTRIBUTIONS-OF-GAINS> (2023138)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3587727
<NUMBER-OF-SHARES-REDEEMED> 1811748
<SHARES-REINVESTED> 273507
<NET-CHANGE-IN-ASSETS> 109576362
<ACCUMULATED-NII-PRIOR> 474567
<ACCUMULATED-GAINS-PRIOR> 2457195
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1182628
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2597222
<AVERAGE-NET-ASSETS> 286597730
<PER-SHARE-NAV-BEGIN> 18.22
<PER-SHARE-NII> 0.28
<PER-SHARE-GAIN-APPREC> 1.64
<PER-SHARE-DIVIDEND> (0.25)
<PER-SHARE-DISTRIBUTIONS> (0.14)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.75
<EXPENSE-RATIO> 1.23
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 022
<NAME> PIONEER EQUITY INCOME CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 354322881
<INVESTMENTS-AT-VALUE> 417506631
<RECEIVABLES> 4332254
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 3442
<TOTAL-ASSETS> 421842327
<PAYABLE-FOR-SECURITIES> 751175
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1304621
<TOTAL-LIABILITIES> 2055796
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 350918472
<SHARES-COMMON-STOCK> 5446381
<SHARES-COMMON-PRIOR> 3328803
<ACCUMULATED-NII-CURRENT> 1038785
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4849505
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 63183750
<NET-ASSETS> 419990512
<DIVIDEND-INCOME> 7538623
<INTEREST-INCOME> 155242
<OTHER-INCOME> 0
<EXPENSES-NET> (2569491)
<NET-INVESTMENT-INCOME> 5124374
<REALIZED-GAINS-CURRENT> 4973144
<APPREC-INCREASE-CURRENT> 24569307
<NET-CHANGE-FROM-OPS> 34666825
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (903357)
<DISTRIBUTIONS-OF-GAINS> (557696)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2524823
<NUMBER-OF-SHARES-REDEEMED> 475314
<SHARES-REINVESTED> 68069
<NET-CHANGE-IN-ASSETS> 109576362
<ACCUMULATED-NII-PRIOR> 474567
<ACCUMULATED-GAINS-PRIOR> 2457195
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1182628
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2597222
<AVERAGE-NET-ASSETS> 85087343
<PER-SHARE-NAV-BEGIN> 18.15
<PER-SHARE-NII> 0.21
<PER-SHARE-GAIN-APPREC> 1.63
<PER-SHARE-DIVIDEND> (0.20)
<PER-SHARE-DISTRIBUTIONS> (0.14)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.65
<EXPENSE-RATIO> 1.98
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 023
<NAME> PIONEER EQUITY INCOME CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 354322881
<INVESTMENTS-AT-VALUE> 417506631
<RECEIVABLES> 4332254
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 3442
<TOTAL-ASSETS> 421842327
<PAYABLE-FOR-SECURITIES> 751175
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1304621
<TOTAL-LIABILITIES> 2055796
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 350918472
<SHARES-COMMON-STOCK> 74575
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1038785
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4849505
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 63183750
<NET-ASSETS> 419990512
<DIVIDEND-INCOME> 7538623
<INTEREST-INCOME> 155242
<OTHER-INCOME> 0
<EXPENSES-NET> (2569491)
<NET-INVESTMENT-INCOME> 5124374
<REALIZED-GAINS-CURRENT> 4973144
<APPREC-INCREASE-CURRENT> 24569307
<NET-CHANGE-FROM-OPS> 34666825
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3522)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 75000
<NUMBER-OF-SHARES-REDEEMED> 531
<SHARES-REINVESTED> 106
<NET-CHANGE-IN-ASSETS> 109576362
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1182628
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2597222
<AVERAGE-NET-ASSETS> 645329
<PER-SHARE-NAV-BEGIN> 19.49
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 0.18
<PER-SHARE-DIVIDEND> (0.09)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.66
<EXPENSE-RATIO> 2.23
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 031
<NAME> PIONEER GOLD SHARES CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 36177373
<INVESTMENTS-AT-VALUE> 42790404
<RECEIVABLES> 294017
<ASSETS-OTHER> 10237
<OTHER-ITEMS-ASSETS> 452
<TOTAL-ASSETS> 43095110
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 60620
<TOTAL-LIABILITIES> 60620
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 36204994
<SHARES-COMMON-STOCK> 4310835
<SHARES-COMMON-PRIOR> 3588062
<ACCUMULATED-NII-CURRENT> (38758)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 255102
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6613152
<NET-ASSETS> 43034490
<DIVIDEND-INCOME> 174006
<INTEREST-INCOME> 103473
<OTHER-INCOME> 0
<EXPENSES-NET> (316237)
<NET-INVESTMENT-INCOME> (38758)
<REALIZED-GAINS-CURRENT> 339500
<APPREC-INCREASE-CURRENT> 7557121
<NET-CHANGE-FROM-OPS> 7857863
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2055609
<NUMBER-OF-SHARES-REDEEMED> 1332836
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16860593
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (84398)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 116588
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 341549
<AVERAGE-NET-ASSETS> 32945917
<PER-SHARE-NAV-BEGIN> 6.80
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 2.06
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.85
<EXPENSE-RATIO> 1.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 032
<NAME> PIONEER GOLD SHARES CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 36177373
<INVESTMENTS-AT-VALUE> 42790404
<RECEIVABLES> 294017
<ASSETS-OTHER> 10237
<OTHER-ITEMS-ASSETS> 452
<TOTAL-ASSETS> 43095110
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 60620
<TOTAL-LIABILITIES> 60620
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 36204994
<SHARES-COMMON-STOCK> 525050
<SHARES-COMMON-PRIOR> 261928
<ACCUMULATED-NII-CURRENT> (38758)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 255102
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6613152
<NET-ASSETS> 43034490
<DIVIDEND-INCOME> 174006
<INTEREST-INCOME> 103473
<OTHER-INCOME> 0
<EXPENSES-NET> (316237)
<NET-INVESTMENT-INCOME> (38758)
<REALIZED-GAINS-CURRENT> 339500
<APPREC-INCREASE-CURRENT> 7557121
<NET-CHANGE-FROM-OPS> 7857863
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 712867
<NUMBER-OF-SHARES-REDEEMED> 449745
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16860593
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (84398)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 116588
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 341549
<AVERAGE-NET-ASSETS> 3120277
<PER-SHARE-NAV-BEGIN> 6.73
<PER-SHARE-NII> (0.03)
<PER-SHARE-GAIN-APPREC> 2.01
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.71
<EXPENSE-RATIO> 2.56
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863334
<NAME> PIONEER GROWTH TRUST
<SERIES>
<NUMBER> 033
<NAME> PIONEER GOLD SHARES CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 36177373
<INVESTMENTS-AT-VALUE> 42790404
<RECEIVABLES> 294017
<ASSETS-OTHER> 10237
<OTHER-ITEMS-ASSETS> 452
<TOTAL-ASSETS> 43095110
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 60620
<TOTAL-LIABILITIES> 60620
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 36204994
<SHARES-COMMON-STOCK> 35672
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (38758)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 255102
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6613152
<NET-ASSETS> 43034490
<DIVIDEND-INCOME> 174006
<INTEREST-INCOME> 103473
<OTHER-INCOME> 0
<EXPENSES-NET> (316237)
<NET-INVESTMENT-INCOME> (38758)
<REALIZED-GAINS-CURRENT> 339500
<APPREC-INCREASE-CURRENT> 7557121
<NET-CHANGE-FROM-OPS> 7857863
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2055609
<NUMBER-OF-SHARES-REDEEMED> 1332836
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 16860593
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 116588
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 341549
<AVERAGE-NET-ASSETS> 191176
<PER-SHARE-NAV-BEGIN> 8.70
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 0.02
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.70
<EXPENSE-RATIO> 3.12
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
