<PAGE> PAGE 1
000 B000000 03/31/99
000 C000000 863520
000 D000000 Y
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 LM INSTITUTIONAL FUND ADVISORS I, INC.
001 B000000 811-06110
001 C000000 4105390000
002 A000000 100 LIGHT STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C020100 LMIFA I WESTERN ASSET CORE PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 LMIFA I WESTERN ASSET NON US PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 LMIFA I WESTERN ASSET INTERMEDIATE PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 LMIFA I WESTERN ASSET LIMITED DURATION PORT.
007 C030400 N
007 C010500 5
007 C020500 LMIFA I WESTERN ASSET CORE PLUS PORTFOLIO
007 C030500 N
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 WESTERN ASSET MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-08162
008 D01AA01 PASADENA
008 D02AA01 CA
008 D03AA01 91105
008 A00AA02 WESTERN ASSET GLOBAL MANAGEMENT LIMITED
008 B00AA02 A
008 C00AA02 801-21068
<PAGE> PAGE 2
008 D01AA02 LONDON
008 D05AA02 UNITED KINGDOM
008 D06AA02 EC2M3TY
011 A00AA01 LEGG MASON WOOD WALKER, INCORPORATED
011 B00AA01 8-01-6767
011 C01AA01 BALTIMORE
011 C02AA01 MD
011 C03AA01 21202
012 A00AA01 BOSTON FINANCIAL DATA SERVICES
012 B00AA01 84-00896
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02105
013 A00AA01 PRICEWATERHOUSECOOPERS, LLP.
013 B01AA01 BALTIMORE
013 B02AA01 MD
013 B03AA01 21202
014 A00AA01 LEGG MASON WOOD WALKER, INCORPORATED
014 B00AA01 8-01-6767
014 A00AA02 ARROYO SECO, INC.
014 B00AA02 8-48-671
015 A00AA01 STATE STREET BANK AND TRUST COMPANY N.A.
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02105
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 17
019 C00AA00 LMINSTITUT
020 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000001 13-5674085
020 C000001 514
020 A000002 MORGAN (J.P.) SECURITIES INC.
020 B000002 13-3224016
020 C000002 2
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 516
022 A000001 MORGAN (J.P.) SECURITIES INC.
022 B000001 13-3224016
022 C000001 16318871
022 D000001 421422
022 A000002 LEHMAN GOVERNMENT SECURITIES INC.
<PAGE> PAGE 3
022 B000002 13-2518466
022 C000002 11094091
022 D000002 14673
022 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
022 B000003 13-5674085
022 C000003 5614276
022 D000003 286425
022 A000004 LEHMAN BROTHERS
022 B000004 13-2518466
022 C000004 3497172
022 D000004 422581
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005 1513222
022 D000005 577856
022 A000006 FIRST BOSTON CORP.
022 B000006 13-5659485
022 C000006 928729
022 D000006 837484
022 A000007 NOMURA SECURITIES
022 B000007 13-2642206
022 C000007 653926
022 D000007 578475
022 A000008 DONALDSON, LUFKIN, & JENRETTE SECURITIES CORP
022 B000008 13-2741729
022 C000008 560777
022 D000008 494560
022 A000009 STATE STREET BANK AND TRUST
022 B000009 04-1867445
022 C000009 997209
022 D000009 0
022 A000010 DEUSTSCHE BANK
022 B000010 13-2730828
022 C000010 247728
022 D000010 221804
023 C000000 42967928
023 D000000 4953119
026 A000000 N
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
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
<PAGE> PAGE 4
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 Y
055 B00AA00 N
056 00AA00 Y
057 00AA00 Y
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
<PAGE> PAGE 5
077 O000000 N
077 P000000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE CO.
080 C00AA00 20000
081 A00AA00 Y
081 B00AA00 40
082 A00AA00 N
082 B00AA00 0
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 N
085 B00AA00 N
024 000100 Y
025 A000101 JP MORGAN
025 B000101 13-3224016
025 C000101 D
025 D000101 1771
025 A000102 DELETE
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 27008
028 A020100 10106
028 A030100 0
028 A040100 57266
028 B010100 4687
028 B020100 0
028 B030100 0
028 B040100 3826
028 C010100 59165
028 C020100 28019
028 C030100 0
028 C040100 15310
028 D010100 5574
028 D020100 0
028 D030100 0
028 D040100 4296
028 E010100 2027
028 E020100 0
028 E030100 0
028 E040100 15722
028 F010100 7393
028 F020100 0
028 F030100 0
<PAGE> PAGE 6
028 F040100 14757
028 G010100 105854
028 G020100 38125
028 G030100 0
028 G040100 111177
028 H000100 0
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 0
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.450
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000000
062 A000100 Y
062 B000100 0.0
062 C000100 0.4
062 D000100 15.5
<PAGE> PAGE 7
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 2.8
062 M000100 23.5
062 N000100 44.0
062 O000100 0.0
062 P000100 17.8
062 Q000100 10.0
062 R000100 0.7
063 A000100 0
063 B000100 9.7
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 Y
070 C020100 Y
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 Y
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 Y
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 Y
<PAGE> PAGE 8
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 3188603
071 B000100 3147154
071 C000100 672441
071 D000100 484
072 A000100 12
072 B000100 41414
072 C000100 1467
072 D000100 0
072 E000100 0
072 F000100 3113
072 G000100 0
072 H000100 0
072 I000100 29
072 J000100 196
072 K000100 3
072 L000100 35
072 M000100 16
072 N000100 44
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 25
072 S000100 3
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 0
072 X000100 3464
072 Y000100 0
072 Z000100 39417
072AA000100 11754
072BB000100 0
072CC010100 0
072CC020100 13322
072DD010100 39129
072DD020100 0
072EE000100 32711
073 A010100 0.6500
073 A020100 0.0000
073 B000100 0.5600
073 C000100 0.0000
074 A000100 1
074 B000100 106281
<PAGE> PAGE 9
074 C000100 21792
074 D000100 653613
074 E000100 0
074 F000100 4769
074 G000100 0
074 H000100 57
074 I000100 0
074 J000100 10981
074 K000100 0
074 L000100 5750
074 M000100 0
074 N000100 803244
074 O000100 116356
074 P000100 263
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 239
074 R040100 897
074 S000100 0
074 T000100 685489
074 U010100 62268
074 U020100 0
074 V010100 11.01
074 V020100 0.00
074 W000100 0.0000
074 X000100 73
074 Y000100 0
075 A000100 0
075 B000100 691774
076 000100 0.00
024 000200 Y
025 A000201 LEHMAN BROTHERS PLC
025 B000201 13-2518466
025 C000201 D
025 D000201 1310
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 525
028 A020200 560
028 A030200 0
028 A040200 0
028 B010200 0
028 B020200 0
028 B030200 0
028 B040200 0
<PAGE> PAGE 10
028 C010200 0
028 C020200 1712
028 C030200 0
028 C040200 0
028 D010200 5500
028 D020200 0
028 D030200 0
028 D040200 0
028 E010200 0
028 E020200 0
028 E030200 0
028 E040200 0
028 F010200 0
028 F020200 0
028 F030200 0
028 F040200 0
028 G010200 6025
028 G020200 2272
028 G030200 0
028 G040200 0
028 H000200 0
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 0
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.450
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
<PAGE> PAGE 11
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
058 A000200 N
059 000200 Y
060 A000200 N
060 B000200 N
061 000200 1000000
062 A000200 Y
062 B000200 10.7
062 C000200 0.0
062 D000200 12.6
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 84.2
062 R000200 0.0
063 A000200 0
063 B000200 7.1
064 A000200 N
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 Y
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 Y
070 F010200 N
070 F020200 N
070 G010200 Y
<PAGE> PAGE 12
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 Y
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 194247
071 B000200 141009
071 C000200 55018
071 D000200 388
072 A000200 9
072 B000200 1980
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 191
072 G000200 0
072 H000200 0
072 I000200 10
072 J000200 94
072 K000200 0
072 L000200 2
072 M000200 11
072 N000200 20
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 12
072 S000200 0
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 20
072 X000200 360
<PAGE> PAGE 13
072 Y000200 127
072 Z000200 1747
072AA000200 1751
072BB000200 0
072CC010200 0
072CC020200 180
072DD010200 1131
072DD020200 0
072EE000200 1141
073 A010200 0.2000
073 A020200 0.0000
073 B000200 0.2000
073 C000200 0.0000
074 A000200 0
074 B000200 8248
074 C000200 6987
074 D000200 55017
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 652
074 K000200 0
074 L000200 2755
074 M000200 25
074 N000200 73684
074 O000200 8251
074 P000200 8
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 67
074 S000200 0
074 T000200 65358
074 U010200 6404
074 U020200 0
074 V010200 10.21
074 V020200 0.00
074 W000200 0.0000
074 X000200 3
074 Y000200 0
075 A000200 0
075 B000200 59753
076 000200 0.00
024 000300 Y
025 A000301 LEHMAN BROTHERS, INC.
025 B000301 13-2518466
025 C000301 D
025 D000301 3083
<PAGE> PAGE 14
025 A000302 JP MORGAN
025 B000302 13-3224016
025 C000302 D
025 D000302 4023
025 A000303 SOLOMON SMITH BARNEY
025 B000303 13-1912900
025 C000303 D
025 D000303 1292
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 2438
028 A020300 5001
028 A030300 0
028 A040300 14429
028 B010300 19080
028 B020300 0
028 B030300 0
028 B040300 2435
028 C010300 1466
028 C020300 10705
028 C030300 0
028 C040300 6624
028 D010300 4761
028 D020300 0
028 D030300 0
028 D040300 20967
028 E010300 6147
028 E020300 0
028 E030300 0
028 E040300 780
028 F010300 2559
028 F020300 0
028 F030300 0
028 F040300 22537
028 G010300 36451
028 G020300 15706
028 G030300 0
028 G040300 67772
028 H000300 0
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 2
<PAGE> PAGE 15
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.400
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 1000000
062 A000300 Y
062 B000300 0.0
062 C000300 0.8
062 D000300 0.6
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.1
062 M000300 35.6
062 N000300 22.7
062 O000300 0.0
062 P000300 24.0
062 Q000300 19.0
062 R000300 0.1
063 A000300 0
<PAGE> PAGE 16
063 B000300 5.8
064 A000300 N
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 Y
070 C020300 Y
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 Y
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 Y
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 Y
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 1339894
071 B000300 1317038
071 C000300 323364
071 D000300 390
072 A000300 12
072 B000300 19846
072 C000300 455
<PAGE> PAGE 17
072 D000300 0
072 E000300 0
072 F000300 1355
072 G000300 0
072 H000300 0
072 I000300 11
072 J000300 117
072 K000300 1
072 L000300 15
072 M000300 16
072 N000300 28
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 24
072 S000300 4
072 T000300 2
072 U000300 12
072 V000300 0
072 W000300 48
072 X000300 1633
072 Y000300 101
072 Z000300 18769
072AA000300 5041
072BB000300 0
072CC010300 0
072CC020300 3703
072DD010300 18139
072DD020300 0
072EE000300 9265
073 A010300 0.5700
073 A020300 0.0000
073 B000300 0.3000
073 C000300 0.0000
074 A000300 1
074 B000300 1756
074 C000300 2925
074 D000300 322626
074 E000300 0
074 F000300 282
074 G000300 0
074 H000300 43
074 I000300 0
074 J000300 3013
074 K000300 4427
074 L000300 0
074 M000300 6
074 N000300 335079
074 O000300 16228
074 P000300 102
074 Q000300 0
<PAGE> PAGE 18
074 R010300 0
074 R020300 0
074 R030300 193
074 R040300 230
074 S000300 0
074 T000300 318326
074 U010300 29622
074 U020300 357
074 V010300 10.62
074 V020300 10.61
074 W000300 0.0000
074 X000300 32
074 Y000300 0
075 A000300 0
075 B000300 338792
076 000300 0.00
024 000400 Y
025 A000401 DONALDSON, LUFKIN & JENRETTE
025 B000401 13-2741729
025 C000401 D
025 D000401 378
025 D000402 0
025 D000403 0
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 0
028 A020400 677
028 A030400 0
028 A040400 3250
028 B010400 0
028 B020400 0
028 B030400 0
028 B040400 6500
028 C010400 0
028 C020400 1068
028 C030400 0
028 C040400 12404
028 D010400 7194
028 D020400 0
028 D030400 0
028 D040400 0
028 E010400 150
028 E020400 0
028 E030400 0
028 E040400 0
028 F010400 0
028 F020400 0
028 F030400 0
<PAGE> PAGE 19
028 F040400 3107
028 G010400 7344
028 G020400 1745
028 G030400 0
028 G040400 25261
028 H000400 0
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 0
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.350
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 1000000
062 A000400 Y
062 B000400 0.0
062 C000400 0.8
062 D000400 2.7
<PAGE> PAGE 20
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 1.9
062 M000400 28.9
062 N000400 0.3
062 O000400 0.0
062 P000400 19.0
062 Q000400 45.6
062 R000400 0.1
063 A000400 0
063 B000400 4.0
064 A000400 N
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 N
070 B020400 N
070 C010400 Y
070 C020400 Y
070 D010400 N
070 D020400 N
070 E010400 Y
070 E020400 Y
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 Y
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
<PAGE> PAGE 21
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 118715
071 B000400 138400
071 C000400 25014
071 D000400 321
072 A000400 12
072 B000400 2480
072 C000400 73
072 D000400 0
072 E000400 0
072 F000400 137
072 G000400 0
072 H000400 0
072 I000400 7
072 J000400 70
072 K000400 0
072 L000400 3
072 M000400 16
072 N000400 18
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 24
072 S000400 3
072 T000400 0
072 U000400 16
072 V000400 0
072 W000400 0
072 X000400 294
072 Y000400 137
072 Z000400 2396
072AA000400 284
072BB000400 0
072CC010400 0
072CC020400 698
072DD010400 2498
072DD020400 0
072EE000400 610
073 A010400 0.6400
073 A020400 0.0000
073 B000400 0.1900
073 C000400 0.0000
074 A000400 1
074 B000400 713
<PAGE> PAGE 22
074 C000400 703
074 D000400 24487
074 E000400 0
074 F000400 23
074 G000400 0
074 H000400 3
074 I000400 0
074 J000400 1
074 K000400 0
074 L000400 208
074 M000400 38
074 N000400 26177
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 15
074 R040400 61
074 S000400 0
074 T000400 26101
074 U010400 2625
074 U020400 0
074 V010400 9.94
074 V020400 0.00
074 W000400 0.0000
074 X000400 4
074 Y000400 0
075 A000400 0
075 B000400 39222
076 000400 0.00
024 000500 Y
025 A000501 LEHMAN BROTHERS
025 B000501 13-2518466
025 C000501 D
025 D000501 1007
025 D000502 0
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 53242
028 A020500 519
028 A030500 0
028 A040500 60
028 B010500 3950
028 B020500 0
028 B030500 0
028 B040500 508
<PAGE> PAGE 23
028 C010500 5739
028 C020500 2214
028 C030500 0
028 C040500 3572
028 D010500 588
028 D020500 0
028 D030500 0
028 D040500 0
028 E010500 1039
028 E020500 0
028 E030500 0
028 E040500 76
028 F010500 592
028 F020500 0
028 F030500 0
028 F040500 4
028 G010500 65150
028 G020500 2733
028 G030500 0
028 G040500 4220
028 H000500 0
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 0
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.450
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
<PAGE> PAGE 24
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000000
062 A000500 Y
062 B000500 0.0
062 C000500 0.6
062 D000500 8.8
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 37.8
062 N000500 32.0
062 O000500 0.0
062 P000500 16.7
062 Q000500 12.1
062 R000500 0.0
063 A000500 0
063 B000500 13.3
064 A000500 N
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 Y
070 C020500 Y
070 D010500 N
070 D020500 N
070 E010500 Y
070 E020500 Y
070 F010500 N
070 F020500 N
070 G010500 Y
<PAGE> PAGE 25
070 G020500 Y
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 Y
070 N010500 Y
070 N020500 N
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 439611
071 B000500 321556
071 C000500 117903
071 D000500 566
072 A000500 9
072 B000500 3765
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 286
072 G000500 0
072 H000500 0
072 I000500 11
072 J000500 51
072 K000500 0
072 L000500 3
072 M000500 11
072 N000500 34
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 15
072 S000500 0
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 0
072 X000500 411
<PAGE> PAGE 26
072 Y000500 95
072 Z000500 3449
072AA000500 0
072BB000500 861
072CC010500 0
072CC020500 613
072DD010500 1958
072DD020500 0
072EE000500 775
073 A010500 0.2200
073 A020500 0.0000
073 B000500 0.0700
073 C000500 0.0000
074 A000500 0
074 B000500 10514
074 C000500 741
074 D000500 117902
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 9
074 I000500 1
074 J000500 10385
074 K000500 0
074 L000500 1531
074 M000500 0
074 N000500 141083
074 O000500 21201
074 P000500 30
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 41
074 R040500 165
074 S000500 0
074 T000500 119646
074 U010500 11998
074 U020500 0
074 V010500 9.97
074 V020500 0.00
074 W000500 0.0000
074 X000500 15
074 Y000500 0
075 A000500 0
075 B000500 86812
076 000500 0.00
075 A001000 0
075 B001000 0
076 001000 0.00
SIGNATURE MARIE K. KARPINSKI
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863520
<NAME> LM INSTITUTIONAL FUND ADVISORS I, INC.
<SERIES>
<NUMBER> 1
<NAME> WESTERN ASSET CORE PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-START> APR-01-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 789,925
<INVESTMENTS-AT-VALUE> 786,512
<RECEIVABLES> 16,731
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 803,244
<PAYABLE-FOR-SECURITIES> 116,356
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,399
<TOTAL-LIABILITIES> 117,755
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 688,945
<SHARES-COMMON-STOCK> 62,268
<SHARES-COMMON-PRIOR> 5,329
<ACCUMULATED-NII-CURRENT> 7,356
(OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (7,468)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3,344)
<NET-ASSETS> 685,489
<DIVIDEND-INCOME> 1,467
<INTEREST-INCOME> 41,414
<OTHER-INCOME> 0
<EXPENSES-NET> 3,464
<NET-INVESTMENT-INCOME> 39,417
<REALIZED-GAINS-CURRENT> 11,754
<APPREC-INCREASE-CURRENT> (13,322)
<NET-CHANGE-FROM-OPS> 37,849
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (39,129)
<DISTRIBUTIONS-OF-GAINS> (32,711)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 23,039
<NUMBER-OF-SHARES-REDEEMED> (20,160)
<SHARES-REINVESTED> 6,095
<NET-CHANGE-IN-ASSETS> 67,813
<ACCUMULATED-NII-PRIOR> 6,997
<ACCUMULATED-GAINS-PRIOR> 13,560
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,113
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,464
<AVERAGE-NET-ASSETS> 691,774
<PER-SHARE-NAV-BEGIN> 11.59
<PER-SHARE-NII> .64
<PER-SHARE-GAIN-APPREC> (.01)
<PER-SHARE-DIVIDEND> (.65)
<PER-SHARE-DISTRIBUTIONS> (.56)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.01
<EXPENSE-RATIO> .50
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863520
<NAME> LM INSTITUTIONAL FUND ADVISORS I, INC.
<SERIES>
<NUMBER> 5
<NAME> WESTERN ASSET CORE PLUS PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-START> JUL-8-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 129865
<INVESTMENTS-AT-VALUE> 129167
<RECEIVABLES> 10385
<ASSETS-OTHER> 1531
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 141083
<PAYABLE-FOR-SECURITIES> 21201
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 236
<TOTAL-LIABILITIES> 21437
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 120404
<SHARES-COMMON-STOCK> 11998
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1513
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1658)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (613)
<NET-ASSETS> 119646
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3765
<OTHER-INCOME> 0
<EXPENSES-NET> 316
<NET-INVESTMENT-INCOME> 3449
<REALIZED-GAINS-CURRENT> (861)
<APPREC-INCREASE-CURRENT> (613)
<NET-CHANGE-FROM-OPS> 1975
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1958)
<DISTRIBUTIONS-OF-GAINS> (775)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12138
<NUMBER-OF-SHARES-REDEEMED> (412)
<SHARES-REINVESTED> 271
<NET-CHANGE-IN-ASSETS> 119631
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 286
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 411
<AVERAGE-NET-ASSETS> 86812
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> .34
<PER-SHARE-GAIN-APPREC> (.08)
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (.07)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.97
<EXPENSE-RATIO> .50
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863520
<NAME> LM INSTITUTIONAL FUND ADVISORS I, INC.
<SERIES>
<NUMBER> 32
<NAME> WESTERN ASSET INTERMEDIATE PORTFOLIO - FINANCIAL INTERMEDIAR
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-START> JAN-07-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 330,328
<INVESTMENTS-AT-VALUE> 327,632
<RECEIVABLES> 7,440
<ASSETS-OTHER> 7
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 335,079
<PAYABLE-FOR-SECURITIES> 16,228
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 525
<TOTAL-LIABILITIES> 16,753
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,794
<SHARES-COMMON-STOCK> 357
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 4,542
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,134)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,613)
<NET-ASSETS> 318,326
<DIVIDEND-INCOME> 455
<INTEREST-INCOME> 19,846
<OTHER-INCOME> 0
<EXPENSES-NET> 1,532
<NET-INVESTMENT-INCOME> 18,769
<REALIZED-GAINS-CURRENT> 5,041
<APPREC-INCREASE-CURRENT> (3,703)
<NET-CHANGE-FROM-OPS> 20,107
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 367
<NUMBER-OF-SHARES-REDEEMED> (10)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 24,795
<ACCUMULATED-NII-PRIOR> 3,956
<ACCUMULATED-GAINS-PRIOR> 3,047
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,355
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,633
<AVERAGE-NET-ASSETS> 3,728
<PER-SHARE-NAV-BEGIN> 10.60
<PER-SHARE-NII> .12
<PER-SHARE-GAIN-APPREC> (.11)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.61
<EXPENSE-RATIO> .70
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863520
<NAME> LM INSTITUTIONAL FUND ADVISORS I, INC.
<SERIES>
<NUMBER> 31
<NAME> WESTERN ASSET INTERMEDIATE PORTFOLIO - INSTITUTIONAL SHARES
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-START> APR-01-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 330,328
<INVESTMENTS-AT-VALUE> 327,632
<RECEIVABLES> 7,440
<ASSETS-OTHER> 7
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 335,079
<PAYABLE-FOR-SECURITIES> 16,228
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 525
<TOTAL-LIABILITIES> 16,573
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 313,737
<SHARES-COMMON-STOCK> 29,622
<SHARES-COMMON-PRIOR> 2,704
<ACCUMULATED-NII-CURRENT> 4,542
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,134)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,613)
<NET-ASSETS> 318,326
<DIVIDEND-INCOME> 455
<INTEREST-INCOME> 19,846
<OTHER-INCOME> 0
<EXPENSES-NET> 1,532
<NET-INVESTMENT-INCOME> 18,769
<REALIZED-GAINS-CURRENT> 5,041
<APPREC-INCREASE-CURRENT> (3,703)
<NET-CHANGE-FROM-OPS> 20,107
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (18,139)
<DISTRIBUTIONS-OF-GAINS> (9,265)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,411
<NUMBER-OF-SHARES-REDEEMED> (13,368)
<SHARES-REINVESTED> 2,531
<NET-CHANGE-IN-ASSETS> 24,795
<ACCUMULATED-NII-PRIOR> 3,956
<ACCUMULATED-GAINS-PRIOR> 3,047
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,355
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,633
<AVERAGE-NET-ASSETS> 337,944
<PER-SHARE-NAV-BEGIN> 10.85
<PER-SHARE-NII> .58
<PER-SHARE-GAIN-APPREC> .06
<PER-SHARE-DIVIDEND> (.57)
<PER-SHARE-DISTRIBUTIONS> (.30)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.62
<EXPENSE-RATIO> .45
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863520
<NAME> LM INSTITUTIONAL FUND ADVSIORS I, INC.
<SERIES>
<NUMBER> 4
<NAME> WESTERN ASSET LIMITED DURATION PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-START> APR-01-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 26476
<INVESTMENTS-AT-VALUE> 25929
<RECEIVABLES> 210
<ASSETS-OTHER> 38
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26177
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 76
<TOTAL-LIABILITIES> 76
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26463
<SHARES-COMMON-STOCK> 2625
<SHARES-COMMON-PRIOR> 490
<ACCUMULATED-NII-CURRENT> 380
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (195)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (547)
<NET-ASSETS> 26101
<DIVIDEND-INCOME> 73
<INTEREST-INCOME> 2480
<OTHER-INCOME> 0
<EXPENSES-NET> 157
<NET-INVESTMENT-INCOME> 2396
<REALIZED-GAINS-CURRENT> 284
<APPREC-INCREASE-CURRENT> (698)
<NET-CHANGE-FROM-OPS> 1982
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2498)
<DISTRIBUTIONS-OF-GAINS> (610)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 936
<NUMBER-OF-SHARES-REDEEMED> (3523)
<SHARES-REINVESTED> 308
<NET-CHANGE-IN-ASSETS> (24270)
<ACCUMULATED-NII-PRIOR> 488
<ACCUMULATED-GAINS-PRIOR> 125
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 137
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 294
<AVERAGE-NET-ASSETS> 39222
<PER-SHARE-NAV-BEGIN> 10.27
<PER-SHARE-NII> .69
<PER-SHARE-GAIN-APPREC> (.19)
<PER-SHARE-DIVIDEND> (.64)
<PER-SHARE-DISTRIBUTIONS> (.19)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.94
<EXPENSE-RATIO> .40
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000863520
<NAME> LM INSTITUTIONAL FUND ADVISORS I, INC.
<SERIES>
<NUMBER> 2
<NAME> WESTERN ASSET NON-US FIXED INCOME PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> MAR-31-1999
<PERIOD-START> JUL-15-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 72,177
<INVESTMENTS-AT-VALUE> 70,252
<RECEIVABLES> 652
<ASSETS-OTHER> 25
<OTHER-ITEMS-ASSETS> 2,755
<TOTAL-ASSETS> 73,684
<PAYABLE-FOR-SECURITIES> 8,251
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 75
<TOTAL-LIABILITIES> 8,326
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64,312
<SHARES-COMMON-STOCK> 6,404
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 386
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 840
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (180)
<NET-ASSETS> 65,358
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,980
<OTHER-INCOME> 0
<EXPENSES-NET> 233
<NET-INVESTMENT-INCOME> 1,747
<REALIZED-GAINS-CURRENT> 1,751
<APPREC-INCREASE-CURRENT> (180)
<NET-CHANGE-FROM-OPS> 3,318
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,131)
<DISTRIBUTIONS-OF-GAINS> (1,141)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,181
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 222
<NET-CHANGE-IN-ASSETS> 65,343
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 191
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 360
<AVERAGE-NET-ASSETS> 59,753
<PER-SHARE-NAV-BEGIN> 10
<PER-SHARE-NII> .30
<PER-SHARE-GAIN-APPREC> .31
<PER-SHARE-DIVIDEND> (.20)
<PER-SHARE-DISTRIBUTIONS> (.20)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.21
<EXPENSE-RATIO> .55
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>