<PAGE> PAGE 1
000 A000000 05/31/1999
000 C000000 0000867502
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 THE WACHOVIA MUNICIPAL FUNDS
001 B000000 811-6201
001 C000000 4122886331
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 WACHOVIA SOUTH CAROLINA MUNI BOND FUND
007 C030100 N
007 C010200 2
007 C020200 WACHOVIA NORTH CAROLINA MUNI BOND FUND
007 C030200 N
007 C010300 3
007 C020300 WACHOVIA GEORGIA MUNICIPAL BOND FUND
007 C030300 N
007 C010400 4
007 C020400 WACHOVIA VIRGINIA MUNICIPAL BOND FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 WACHOVIA ASSET MANAGEMENT
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 WINSTON-SALEM
008 D02AA01 NC
008 D03AA01 27101
010 A00AA01 FEDERATED SERVICES COMPANY
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
<PAGE> PAGE 2
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02116
013 B04AA01 5072
015 A00AA01 WACHOVIA BANK, N.A.
015 B00AA01 C
015 C01AA01 WINSTON-SALEM
015 C02AA01 NC
015 C03AA01 27101
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 C000001 0
020 C000002 0
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 0
022 A000001 FIDELITY BROKERAGE SERVICES, INC.
022 B000001 04-2653569
022 C000001 35292
022 D000001 25880
022 A000002 AIM MANANGEMENT CO.
022 C000002 26971
022 D000002 21530
022 A000003 DREYFUS CORPORATION
022 B000003 13-5673135
022 C000003 10171
022 D000003 8863
022 A000004 GOLDMAN SACHS & CO.
022 B000004 13-5108880
<PAGE> PAGE 3
022 C000004 0
022 D000004 13332
022 A000005 ROBINSON-HUMPHREY CO.
022 C000005 6344
022 D000005 396
022 A000006 SCOTT & STRINGFELLOW
022 C000006 0
022 D000006 5825
022 A000007 PRUDENTIAL SECURITIES INC.
022 B000007 22-2347336
022 C000007 4415
022 D000007 0
022 A000008 DAIN BOSWORTH INC.
022 C000008 4101
022 D000008 0
022 A000009 PIPER JAFFRAY INC.
022 C000009 3860
022 D000009 0
022 A000010 CRAIGE INCORPORATED
022 B000010 54-0294670
022 C000010 1863
022 D000010 974
023 C000000 112600
023 D000000 80546
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 Y
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
034 00AA00 N
035 00AA00 0
036 B00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 N
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
<PAGE> PAGE 4
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 N
060 B00AA00 N
061 00AA00 500
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 N
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
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
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
<PAGE> PAGE 5
086 E020000 0
086 F010000 0
086 F020000 0
024 000100 N
025 A000101 DELETE
025 D000101 0
025 A000102 DELETE
025 D000102 0
025 A000103 DELETE
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 1046
028 A020100 111
028 A030100 0
028 A040100 834
028 B010100 1465
028 B020100 177
028 B030100 0
028 B040100 1017
028 C010100 903
028 C020100 174
028 C030100 0
028 C040100 787
028 D010100 5652
028 D020100 174
028 D030100 0
028 D040100 1996
028 E010100 3844
028 E020100 170
028 E030100 0
028 E040100 1376
028 F010100 4660
028 F020100 172
028 F030100 0
028 F040100 556
028 G010100 17570
028 G020100 978
028 G030100 0
028 G040100 6566
028 H000100 3560
029 000100 Y
030 A000100 108
030 B000100 4.50
030 C000100 0.00
031 A000100 9
031 B000100 0
032 000100 99
<PAGE> PAGE 6
033 000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 N
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 0.750
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
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
<PAGE> PAGE 7
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 92.5
062 P000100 0.0
062 Q000100 0.0
062 R000100 6.4
063 A000100 0
063 B000100 9.7
064 A000100 Y
064 B000100 N
070 A010100 Y
070 A020100 N
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
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 10392
071 B000100 5446
071 C000100 118804
<PAGE> PAGE 8
071 D000100 5
072 A000100 6
072 B000100 3277
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 468
072 G000100 56
072 H000100 0
072 I000100 8
072 J000100 12
072 K000100 0
072 L000100 6
072 M000100 1
072 N000100 11
072 O000100 0
072 P000100 0
072 Q000100 4
072 R000100 8
072 S000100 3
072 T000100 84
072 U000100 0
072 V000100 0
072 W000100 5
072 X000100 666
072 Y000100 221
072 Z000100 2832
072AA000100 73
072BB000100 0
072CC010100 0
072CC020100 2721
072DD010100 1490
072DD020100 1344
072EE000100 212
073 A010100 0.2500
073 A020100 0.2600
073 B000100 0.0200
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 0
074 D000100 121494
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 8342
074 J000100 0
074 K000100 0
074 L000100 2095
074 M000100 0
<PAGE> PAGE 9
074 N000100 131931
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 584
074 S000100 0
074 T000100 131347
074 U010100 5986
074 U020100 5844
074 V010100 11.10
074 V020100 11.10
074 W000100 0.0000
074 X000100 1707
074 Y000100 0
075 A000100 0
075 B000100 125181
076 000100 0.00
024 000200 N
025 A000201 DELETE
025 D000201 0
025 A000202 DELETE
025 D000202 0
025 A000203 DELETE
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 962
028 A020200 189
028 A030200 0
028 A040200 200
028 B010200 2146
028 B020200 43
028 B030200 0
028 B040200 747
028 C010200 1444
028 C020200 44
028 C030200 0
028 C040200 765
028 D010200 2630
028 D020200 42
028 D030200 0
028 D040200 404
028 E010200 1987
028 E020200 42
028 E030200 0
<PAGE> PAGE 10
028 E040200 832
028 F010200 8550
028 F020200 42
028 F030200 0
028 F040200 495
028 G010200 17719
028 G020200 402
028 G030200 0
028 G040200 3443
028 H000200 688
029 000200 Y
030 A000200 13
030 B000200 4.50
030 C000200 0.00
031 A000200 1
031 B000200 0
032 000200 12
033 000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 N
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 0.750
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
<PAGE> PAGE 11
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
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 94.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 9.8
063 A000200 0
063 B000200 8.6
064 A000200 Y
064 B000200 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
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
<PAGE> PAGE 12
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 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 12680
071 B000200 2763
071 C000200 65328
071 D000200 4
072 A000200 6
072 B000200 1667
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 263
072 G000200 31
072 H000200 0
072 I000200 5
072 J000200 7
072 K000200 0
072 L000200 6
072 M000200 1
072 N000200 11
072 O000200 0
072 P000200 0
072 Q000200 7
072 R000200 7
072 S000200 3
072 T000200 12
072 U000200 0
072 V000200 0
072 W000200 8
072 X000200 361
072 Y000200 51
072 Z000200 1357
072AA000200 32
072BB000200 0
072CC010200 0
072CC020200 1463
072DD010200 177
072DD020200 1180
072EE000200 336
<PAGE> PAGE 13
073 A010200 0.2100
073 A020200 0.2200
073 B000200 0.0600
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 0
074 D000200 74442
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 7794
074 J000200 0
074 K000200 0
074 L000200 556
074 M000200 14
074 N000200 82806
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 3602
074 S000200 0
074 T000200 79204
074 U010200 867
074 U020200 6216
074 V010200 11.18
074 V020200 11.18
074 W000200 0.0000
074 X000200 666
074 Y000200 0
075 A000200 0
075 B000200 70306
076 000200 0.00
024 000300 N
025 A000301 DELETE
025 D000301 0
025 A000302 DELETE
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 764
028 A020300 27
028 A030300 0
<PAGE> PAGE 14
028 A040300 0
028 B010300 775
028 B020300 23
028 B030300 0
028 B040300 151
028 C010300 1768
028 C020300 21
028 C030300 0
028 C040300 1260
028 D010300 1026
028 D020300 22
028 D030300 0
028 D040300 30
028 E010300 603
028 E020300 22
028 E030300 0
028 E040300 713
028 F010300 743
028 F020300 21
028 F030300 0
028 F040300 245
028 G010300 5679
028 G020300 136
028 G030300 0
028 G040300 2399
028 H000300 250
029 000300 Y
030 A000300 5
030 B000300 4.50
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 5
033 000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 N
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 0
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
<PAGE> PAGE 15
048 000300 0.750
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
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
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 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 96.9
062 P000300 0.0
062 Q000300 0.0
062 R000300 1.7
063 A000300 0
063 B000300 19.9
064 A000300 Y
064 B000300 N
070 A010300 Y
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
<PAGE> PAGE 16
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
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 5491
071 B000300 2396
071 C000300 24393
071 D000300 10
072 A000300 6
072 B000300 615
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 96
072 G000300 11
072 H000300 0
072 I000300 4
072 J000300 3
072 K000300 0
072 L000300 5
072 M000300 1
072 N000300 9
072 O000300 0
072 P000300 0
072 Q000300 4
<PAGE> PAGE 17
072 R000300 8
072 S000300 3
072 T000300 9
072 U000300 0
072 V000300 0
072 W000300 6
072 X000300 159
072 Y000300 34
072 Z000300 490
072AA000300 59
072BB000300 0
072CC010300 0
072CC020300 563
072DD010300 124
072DD020300 367
072EE000300 62
073 A010300 0.2055
073 A020300 0.2197
073 B000300 0.0288
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 0
074 D000300 26410
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
074 K000300 0
074 L000300 569
074 M000300 13
074 N000300 26992
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 212
074 S000300 0
074 T000300 26780
074 U010300 599
074 U020300 1807
074 V010300 11.13
074 V020300 11.13
074 W000300 0.0000
074 X000300 257
074 Y000300 0
075 A000300 0
<PAGE> PAGE 18
075 B000300 25769
076 000300 0.00
024 000400 N
025 A000401 DELETE
025 D000401 0
025 A000402 DELETE
025 D000402 0
025 A000403 DELETE
025 D000403 0
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 789
028 A020400 0
028 A030400 0
028 A040400 1898
028 B010400 1991
028 B020400 30
028 B030400 0
028 B040400 1152
028 C010400 653
028 C020400 30
028 C030400 0
028 C040400 904
028 D010400 1316
028 D020400 31
028 D030400 0
028 D040400 1738
028 E010400 1129
028 E020400 31
028 E030400 0
028 E040400 2190
028 F010400 897
028 F020400 31
028 F030400 0
028 F040400 759
028 G010400 6775
028 G020400 153
028 G030400 0
028 G040400 8641
028 H000400 309
029 000400 Y
030 A000400 11
030 B000400 4.50
030 C000400 0.00
031 A000400 1
031 B000400 0
032 000400 10
033 000400 0
<PAGE> PAGE 19
037 000400 N
038 000400 0
039 000400 N
040 000400 N
041 000400 N
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 0.740
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
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
<PAGE> PAGE 20
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 96.8
062 P000400 0.0
062 Q000400 0.0
062 R000400 3.8
063 A000400 0
063 B000400 10.2
064 A000400 Y
064 B000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
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 11930
071 B000400 13864
071 C000400 102324
<PAGE> PAGE 21
071 D000400 12
072 A000400 6
072 B000400 2776
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 393
072 G000400 47
072 H000400 0
072 I000400 8
072 J000400 11
072 K000400 0
072 L000400 8
072 M000400 2
072 N000400 16
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 4
072 S000400 6
072 T000400 11
072 U000400 0
072 V000400 0
072 W000400 6
072 X000400 512
072 Y000400 134
072 Z000400 2398
072AA000400 456
072BB000400 0
072CC010400 0
072CC020400 2472
072DD010400 188
072DD020400 2210
072EE000400 0
073 A010400 0.2200
073 A020400 0.2400
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 100931
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 3967
074 J000400 0
074 K000400 0
074 L000400 1856
074 M000400 0
<PAGE> PAGE 22
074 N000400 106754
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 2494
074 S000400 0
074 T000400 104260
074 U010400 831
074 U020400 9296
074 V010400 10.30
074 V020400 10.30
074 W000400 0.0000
074 X000400 374
074 Y000400 0
075 A000400 0
075 B000400 106533
076 000400 0.00
SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000867502
<NAME> The Wachovia Municipal Funds
<SERIES>
<NUMBER> 031
<NAME> Wachovia Georgia Municipal Bond Fund - Class A Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> May-31-1999
<INVESTMENTS-AT-COST> 25,787,945
<INVESTMENTS-AT-VALUE> 26,410,514
<RECEIVABLES> 569,207
<ASSETS-OTHER> 7,735
<OTHER-ITEMS-ASSETS> 4,822
<TOTAL-ASSETS> 26,992,278
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 212,464
<TOTAL-LIABILITIES> 212,464
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26,113,844
<SHARES-COMMON-STOCK> 599,069
<SHARES-COMMON-PRIOR> 606,561
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,217)
<ACCUMULATED-NET-GAINS> 44,618
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 622,569
<NET-ASSETS> 6,668,042
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 615,259
<OTHER-INCOME> 0
<EXPENSES-NET> (125,787)
<NET-INVESTMENT-INCOME> 489,472
<REALIZED-GAINS-CURRENT> 59,361
<APPREC-INCREASE-CURRENT> (562,932)
<NET-CHANGE-FROM-OPS> (14,099)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (124,453)
<DISTRIBUTIONS-OF-GAINS> (17,546)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 21,125
<NUMBER-OF-SHARES-REDEEMED> (37,672)
<SHARES-REINVESTED> 9,055
<NET-CHANGE-IN-ASSETS> 2,849,405
<ACCUMULATED-NII-PRIOR> 497
<ACCUMULATED-GAINS-PRIOR> 47,054
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 96,368
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 159,410
<AVERAGE-NET-ASSETS> 6,841,005
<PER-SHARE-NAV-BEGIN> 11.380
<PER-SHARE-NII> 0.210
<PER-SHARE-GAIN-APPREC> (0.220)
<PER-SHARE-DIVIDEND> (0.210)
<PER-SHARE-DISTRIBUTIONS> (0.030)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.130
<EXPENSE-RATIO> 1.160
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000867502
<NAME> The Wachovia Municipal Funds
<SERIES>
<NUMBER> 032
<NAME> Wachovia Georgia Municipal Bond Fund - Class Y Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> May-31-1999
<INVESTMENTS-AT-COST> 25,787,945
<INVESTMENTS-AT-VALUE> 26,410,514
<RECEIVABLES> 569,207
<ASSETS-OTHER> 7,735
<OTHER-ITEMS-ASSETS> 4,822
<TOTAL-ASSETS> 26,992,278
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 212,464
<TOTAL-LIABILITIES> 212,464
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26,113,844
<SHARES-COMMON-STOCK> 1,806,671
<SHARES-COMMON-PRIOR> 1,497,185
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,217)
<ACCUMULATED-NET-GAINS> 44,618
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 622,569
<NET-ASSETS> 20,111,772
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 615,259
<OTHER-INCOME> 0
<EXPENSES-NET> (125,787)
<NET-INVESTMENT-INCOME> 489,472
<REALIZED-GAINS-CURRENT> 59,361
<APPREC-INCREASE-CURRENT> (562,932)
<NET-CHANGE-FROM-OPS> (14,099)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (366,733)
<DISTRIBUTIONS-OF-GAINS> (44,251)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 480,638
<NUMBER-OF-SHARES-REDEEMED> (174,130)
<SHARES-REINVESTED> 2,978
<NET-CHANGE-IN-ASSETS> 2,849,405
<ACCUMULATED-NII-PRIOR> 497
<ACCUMULATED-GAINS-PRIOR> 47,054
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 96,368
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 159,410
<AVERAGE-NET-ASSETS> 18,927,853
<PER-SHARE-NAV-BEGIN> 11.380
<PER-SHARE-NII> 0.220
<PER-SHARE-GAIN-APPREC> (0.220)
<PER-SHARE-DIVIDEND> (0.220)
<PER-SHARE-DISTRIBUTIONS> (0.030)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.130
<EXPENSE-RATIO> 0.910
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000867502
<NAME> The Wachovia Municipal Funds
<SERIES>
<NUMBER> 022
<NAME> Wachovia North Carolina Municipal Bond Fund - Class A Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> May-31-1999
<INVESTMENTS-AT-COST> 80,147,797
<INVESTMENTS-AT-VALUE> 82,235,545
<RECEIVABLES> 556,242
<ASSETS-OTHER> 6,190
<OTHER-ITEMS-ASSETS> 8,168
<TOTAL-ASSETS> 82,806,145
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,601,868
<TOTAL-LIABILITIES> 3,601,868
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 77,104,020
<SHARES-COMMON-STOCK> 867,302
<SHARES-COMMON-PRIOR> 832,230
<ACCUMULATED-NII-CURRENT> 492
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,017
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,087,748
<NET-ASSETS> 9,698,377
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,666,583
<OTHER-INCOME> 0
<EXPENSES-NET> (309,780)
<NET-INVESTMENT-INCOME> 1,356,803
<REALIZED-GAINS-CURRENT> 32,152
<APPREC-INCREASE-CURRENT> (1,462,948)
<NET-CHANGE-FROM-OPS> (73,993)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (176,504)
<DISTRIBUTIONS-OF-GAINS> (48,350)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 57,845
<NUMBER-OF-SHARES-REDEEMED> (36,762)
<SHARES-REINVESTED> 13,989
<NET-CHANGE-IN-ASSETS> 12,910,518
<ACCUMULATED-NII-PRIOR> 48
<ACCUMULATED-GAINS-PRIOR> 316,064
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 262,929
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 360,843
<AVERAGE-NET-ASSETS> 9,683,115
<PER-SHARE-NAV-BEGIN> 11.460
<PER-SHARE-NII> 0.210
<PER-SHARE-GAIN-APPREC> (0.220)
<PER-SHARE-DIVIDEND> (0.210)
<PER-SHARE-DISTRIBUTIONS> (0.060)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.180
<EXPENSE-RATIO> 1.10
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000867502
<NAME> The Wachovia Municipal Funds
<SERIES>
<NUMBER> 021
<NAME> Wachovia North Carolina Municipal Bond Fund - Class Y Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Nov-30-1999
<PERIOD-END> May-31-1999
<INVESTMENTS-AT-COST> 80,147,797
<INVESTMENTS-AT-VALUE> 82,235,545
<RECEIVABLES> 556,242
<ASSETS-OTHER> 6,190
<OTHER-ITEMS-ASSETS> 8,168
<TOTAL-ASSETS> 82,806,145
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,601,868
<TOTAL-LIABILITIES> 3,601,868
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 77,104,020
<SHARES-COMMON-STOCK> 6,216,352
<SHARES-COMMON-PRIOR> 4,954,746
<ACCUMULATED-NII-CURRENT> 492
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 12,017
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,087,748
<NET-ASSETS> 69,505,900
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,666,583
<OTHER-INCOME> 0
<EXPENSES-NET> (309,780)
<NET-INVESTMENT-INCOME> 1,356,803
<REALIZED-GAINS-CURRENT> 32,152
<APPREC-INCREASE-CURRENT> (1,462,948)
<NET-CHANGE-FROM-OPS> (73,993)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,179,855)
<DISTRIBUTIONS-OF-GAINS> (287,849)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,506,651
<NUMBER-OF-SHARES-REDEEMED> (266,329)
<SHARES-REINVESTED> 21,284
<NET-CHANGE-IN-ASSETS> 12,910,518
<ACCUMULATED-NII-PRIOR> 48
<ACCUMULATED-GAINS-PRIOR> 316,064
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 262,929
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 360,843
<AVERAGE-NET-ASSETS> 60,623,089
<PER-SHARE-NAV-BEGIN> 11.460
<PER-SHARE-NII> 0.220
<PER-SHARE-GAIN-APPREC> (0.220)
<PER-SHARE-DIVIDEND> (0.220)
<PER-SHARE-DISTRIBUTIONS> (0.060)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.180
<EXPENSE-RATIO> 0.85
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000867502
<NAME> The Wachovia Municipal Funds
<SERIES>
<NUMBER> 012
<NAME> Wachovia South Carolina Municipal Fund A Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 124,643,385
<INVESTMENTS-AT-VALUE> 129,835,408
<RECEIVABLES> 2,095,073
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 131,930,481
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 583,402
<TOTAL-LIABILITIES> 583,402
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 126,084,394
<SHARES-COMMON-STOCK> 5,985,805
<SHARES-COMMON-PRIOR> 5,940,020
<ACCUMULATED-NII-CURRENT> 315
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 70,347
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,192,023
<NET-ASSETS> 66,459,079
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,276,726
<OTHER-INCOME> 0
<EXPENSES-NET> (444,902)
<NET-INVESTMENT-INCOME> 2,831,824
<REALIZED-GAINS-CURRENT> 72,688
<APPREC-INCREASE-CURRENT> (2,721,024)
<NET-CHANGE-FROM-OPS> 183,488
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,490,253)
<DISTRIBUTIONS-OF-GAINS> (117,285)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 304,067
<NUMBER-OF-SHARES-REDEEMED> (336,946)
<SHARES-REINVESTED> 78,664
<NET-CHANGE-IN-ASSETS> 9,119,362
<ACCUMULATED-NII-PRIOR> 3,008
<ACCUMULATED-GAINS-PRIOR> 209,186
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 468,144
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 665,551
<AVERAGE-NET-ASSETS> 67,544,475
<PER-SHARE-NAV-BEGIN> 11.360
<PER-SHARE-NII> 0.250
<PER-SHARE-GAIN-APPREC> (0.240)
<PER-SHARE-DIVIDEND> (0.250)
<PER-SHARE-DISTRIBUTIONS> (0.020)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.100
<EXPENSE-RATIO> 0.83
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000867502
<NAME> The Wachovia Municipal Funds
<SERIES>
<NUMBER> 011
<NAME> Wachovia South Carolina Municipal Fund Y Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 124,643,385
<INVESTMENTS-AT-VALUE> 129,835,408
<RECEIVABLES> 2,095,073
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 131,930,481
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 583,402
<TOTAL-LIABILITIES> 583,402
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 126,084,394
<SHARES-COMMON-STOCK> 5,844,393
<SHARES-COMMON-PRIOR> 4,822,801
<ACCUMULATED-NII-CURRENT> 315
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 70,347
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,192,023
<NET-ASSETS> 64,887,390
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3,276,726
<OTHER-INCOME> 0
<EXPENSES-NET> (444,902)
<NET-INVESTMENT-INCOME> 2,831,824
<REALIZED-GAINS-CURRENT> 72,688
<APPREC-INCREASE-CURRENT> (2,721,024)
<NET-CHANGE-FROM-OPS> 183,488
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,344,264)
<DISTRIBUTIONS-OF-GAINS> (94,242)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,258,933
<NUMBER-OF-SHARES-REDEEMED> (245,267)
<SHARES-REINVESTED> 7,926
<NET-CHANGE-IN-ASSETS> 9,119,362
<ACCUMULATED-NII-PRIOR> 3,008
<ACCUMULATED-GAINS-PRIOR> 209,186
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 468,144
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 665,551
<AVERAGE-NET-ASSETS> 57,636,300
<PER-SHARE-NAV-BEGIN> 11.360
<PER-SHARE-NII> 0.260
<PER-SHARE-GAIN-APPREC> (0.240)
<PER-SHARE-DIVIDEND> (0.260)
<PER-SHARE-DISTRIBUTIONS> (0.020)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.100
<EXPENSE-RATIO> 0.58
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000867502
<NAME> THE WACHOVIA MUNICIPAL FUNDS
<SERIES>
<NUMBER> 042
<NAME> WACHOVIA VIRGINIA MUNICIPAL BOND FUND - CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 100,087,509
<INVESTMENTS-AT-VALUE> 104,897,588
<RECEIVABLES> 1,856,832
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 106,754,420
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,494,267
<TOTAL-LIABILITIES> 2,494,267
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100,605,502
<SHARES-COMMON-STOCK> 831,431
<SHARES-COMMON-PRIOR> 842,310
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (7,268)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,148,160)
<ACCUM-APPREC-OR-DEPREC> 4,810,079
<NET-ASSETS> 8,559,583
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,775,938
<OTHER-INCOME> 0
<EXPENSES-NET> (378,239)
<NET-INVESTMENT-INCOME> 2,397,699
<REALIZED-GAINS-CURRENT> 456,333
<APPREC-INCREASE-CURRENT> (2,472,485)
<NET-CHANGE-FROM-OPS> 381,547
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (187,772)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19,328
<NUMBER-OF-SHARES-REDEEMED> (41,747)
<SHARES-REINVESTED> 11,540
<NET-CHANGE-IN-ASSETS> (3,729,201)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (7,257)
<OVERDIST-NET-GAINS-PRIOR> (1,604,493)
<GROSS-ADVISORY-FEES> 393,098
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 511,786
<AVERAGE-NET-ASSETS> 8,789,055
<PER-SHARE-NAV-BEGIN> 10.490
<PER-SHARE-NII> 0.220
<PER-SHARE-GAIN-APPREC> (0.190)
<PER-SHARE-DIVIDEND> (0.220)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.300
<EXPENSE-RATIO> 0.93
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000867502
<NAME> THE WACHOVIA MUNICIPAL FUNDS
<SERIES>
<NUMBER> 041
<NAME> WACHOVIA VIRGINIA MUNICIPAL BOND FUND - CLASS Y
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1999
<PERIOD-END> MAY-31-1999
<INVESTMENTS-AT-COST> 100,087,509
<INVESTMENTS-AT-VALUE> 104,897,588
<RECEIVABLES> 1,856,832
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 106,754,420
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,494,267
<TOTAL-LIABILITIES> 2,494,267
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 100,605,502
<SHARES-COMMON-STOCK> 9,295,830
<SHARES-COMMON-PRIOR> 9,448,676
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (7,268)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,148,160)
<ACCUM-APPREC-OR-DEPREC> 4,810,079
<NET-ASSETS> 95,770,570
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,775,938
<OTHER-INCOME> 0
<EXPENSES-NET> (378,239)
<NET-INVESTMENT-INCOME> 2,397,699
<REALIZED-GAINS-CURRENT> 456,333
<APPREC-INCREASE-CURRENT> (2,472,485)
<NET-CHANGE-FROM-OPS> 381,547
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,209,938)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 628,848
<NUMBER-OF-SHARES-REDEEMED> (784,802)
<SHARES-REINVESTED> 3,108
<NET-CHANGE-IN-ASSETS> (3,729,201)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (7,257)
<OVERDIST-NET-GAINS-PRIOR> (1,604,493)
<GROSS-ADVISORY-FEES> 393,098
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 511,786
<AVERAGE-NET-ASSETS> 97,744,351
<PER-SHARE-NAV-BEGIN> 10.490
<PER-SHARE-NII> 0.240
<PER-SHARE-GAIN-APPREC> (0.190)
<PER-SHARE-DIVIDEND> (0.240)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.300
<EXPENSE-RATIO> 0.68
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
