<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Investors Michigan Municipal Cash Fund Semi-Annual Report for the six months
ended September 30, 2000 and is qualified in its entirety by reference to such
financial statements.
</LEGEND>
<CIK> 0000863420
<NAME> INVESTORS MUNICIPAL CASH FUND
<SERIES>
<NUMBER> 05
<NAME> INVESTORS MICHIGAN MUNICIPAL CASH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2001
<PERIOD-START> APR-01-2000
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 26,370,000
<INVESTMENTS-AT-VALUE> 26,370,000
<RECEIVABLES> 1,106,697
<ASSETS-OTHER> 10,558
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,487,255
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 825,318
<TOTAL-LIABILITIES> 825,318
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26,661,937
<SHARES-COMMON-STOCK> 26,661,937
<SHARES-COMMON-PRIOR> 23,213,326
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 26,661,937
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 545,575
<OTHER-INCOME> 0
<EXPENSES-NET> 94,985
<NET-INVESTMENT-INCOME> 450,590
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 450,590
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (490,590)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 76,016,579
<NUMBER-OF-SHARES-REDEEMED> (73,016,696)
<SHARES-REINVESTED> 448,728
<NET-CHANGE-IN-ASSETS> 3,448,611
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 27,862
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 110,713
<AVERAGE-NET-ASSETS> 25,328,123
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.02)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .75
</TABLE>
