<PAGE> PAGE 1
000 A000000 11/30/97
000 C000000 0000869760
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 VKAC WORLD PORTFOLIO SERIES TRUST
001 B000000 811-06220
001 C000000 6306846000
002 A000000 ONE PARKVIEW PLAZA
002 B000000 OAKBROOK TERRACE
002 C000000 IL
002 D010000 60181
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 VKAC GLOBAL EQUITY FUND
007 C030100 N
007 C010200 2
007 C020200 VKAC GLOBAL GOVERNMENT SEC. FUND
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
012 A00AA01 ACCESS INVESTOR SERVICES, INC.
012 B00AA01 84-01621
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64141
013 A00AA01 PRICE WATERHOUSE, LLP
013 B01AA01 HOUSTON
013 B02AA01 TX
013 B03AA01 77002
014 A00AA01 MORGAN STANLEY & CO., INCORPORATED
014 B00AA01 8-00733537
014 A00AA02 DEAN WITTER REYNOLDS, INC.
014 B00AA02 8-00728181
018 00AA00 Y
019 A00AA00 Y
<PAGE> PAGE 2
019 B00AA00 102
019 C00AA00 VANKAMPENA
020 A000001 LEHMAN BROTHERS
020 B000001 13-2518466
020 C000001 53
020 A000002 MERRILL LYNCH
020 B000002 13-5674085
020 C000002 37
020 A000003 SALOMON BROTHERS
020 B000003 13-3082694
020 C000003 28
020 A000004 GOLDMAN SACHS
020 B000004 13-5108880
020 C000004 22
020 A000005 BARCLAYS DE ZOETTE WEDD
020 B000005 13-3551367
020 C000005 18
020 A000006 NOMURA SECURITIES
020 B000006 13-2642206
020 C000006 15
020 A000007 JAMES CAPEL & CO.
020 B000007 52-1347824
020 C000007 13
020 A000008 CREDIT LYONNAIS SECURITIES
020 C000008 11
020 A000009 NATWEST SECURITIES
020 B000009 14-9980001
020 C000009 7
020 A000010 UBS SECURITIES
020 B000010 13-2932996
020 C000010 5
021 000000 216
022 A000001 STATE STREET BANK & TRUST
022 B000001 04-1867445
022 C000001 4399746
022 D000001 0
022 A000002 LEHMAN BROTHERS
022 B000002 13-2518466
022 C000002 67202
022 D000002 31994
022 A000003 MERRILL LYNCH
022 B000003 13-5674085
022 C000003 48317
022 D000003 802
022 A000004 SALOMON BROTHERS
022 B000004 13-3082694
022 C000004 15345
022 D000004 20041
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005 3346
<PAGE> PAGE 3
022 D000005 11540
022 A000006 NORMURA SECURITIES
022 B000006 13-2542206
022 C000006 4862
022 D000006 6696
022 A000007 BA SECURITIES
022 B000007 95-4035346
022 C000007 10408
022 D000007 0
022 A000008 BARCLAYS DE ZOETTE WEED
022 B000008 13-3551367
022 C000008 4802
022 D000008 4125
022 A000009 CREDIT LYONNAIS
022 C000009 0
022 D000009 6903
022 A000010 UBS SECURITIES
022 B000010 13-2932996
022 C000010 3737
022 D000010 2948
023 C000000 4557765
023 D000000 4379788
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 N
053 C00AA00 Y
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 N
054 I00AA00 Y
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
<PAGE> PAGE 4
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 Y
060 B00AA00 Y
061 00AA00 500
077 A000000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 B00AA00 N/A
080 C00AA00 65000
081 A00AA00 Y
081 B00AA00 101
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
008 A000101 VAN KAMPEN AMERICAN CAPITAL ASSET MGMT., INC.
008 B000101 A
008 C000101 801-8286
008 D010101 OAKBROOK TERRACE
008 D020101 IL
008 D030101 60181
008 A000102 MORGAN STANLEY ASSET MANAGEMENT, INC.
008 B000102 S
008 C000102 801-1234
008 D010102 NEW YORK
008 D020102 NY
008 D030102 10036
024 000100 Y
025 A000101 STATE STREET BANK AND TRUST CO.
025 B000101 04-1867445
025 C000101 D
025 D000101 39956
025 A000102 BANK OF NEW YORK, INC.
025 B000102 13-5160382
025 C000102 E
025 D000102 290
025 A000103 CHASE MANHANTTAN CORP
025 B000103 13-2633612
025 C000103 E
<PAGE> PAGE 5
025 D000103 717
025 A000104 MERRILL LYNCH
025 B000104 13-5674085
025 C000104 E
025 D000104 519
025 A000105 NATIONSBANK
025 B000105 68-0193243
025 C000105 E
025 D000105 535
025 A000106 BANKAMERICA
025 B000106 95-4035346
025 C000106 E
025 D000106 759
025 A000107 BANK ONE CORP
025 B000107 33-4148768
025 C000107 E
025 D000107 308
025 A000108 BANKERS TRUST NEW YORK CORP
025 B000108 13-4941247
025 C000108 E
025 D000108 154
025 A000109 CITICORP
025 B000109 33-2771535
025 C000109 E
025 D000109 744
025 A000110 H & R BLOCK, INC
025 C000110 E
025 D000110 66
025 A000111 J.P. MORGAN & CO., INC.
025 B000111 13-3224016
025 C000111 E
025 D000111 183
025 D000112 0
025 D000113 0
025 D000114 0
025 D000115 0
025 D000116 0
028 A010100 15429
028 A020100 0
028 A030100 0
028 A040100 9407
028 B010100 13195
028 B020100 0
028 B030100 0
028 B040100 9948
028 C010100 10048
028 C020100 0
028 C030100 0
028 C040100 9463
028 D010100 15719
028 D020100 0
<PAGE> PAGE 6
028 D030100 0
028 D040100 8320
028 E010100 11135
028 E020100 0
028 E030100 0
028 E040100 10163
028 F010100 9312
028 F020100 0
028 F030100 0
028 F040100 8275
028 G010100 74838
028 G020100 0
028 G030100 0
028 G040100 55576
028 H000100 13520
029 000100 Y
030 A000100 382
030 B000100 5.75
030 C000100 0.00
031 A000100 49
031 B000100 0
032 000100 333
033 000100 0
034 000100 Y
035 000100 87
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 62
042 C000100 38
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 1453
044 000100 0
045 000100 Y
046 000100 Y
047 000100 Y
048 000100 2.000
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
<PAGE> PAGE 7
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 13.4
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 85.3
062 R000100 0.0
063 A000100 0
063 B000100 0.0
064 A000100 N
064 B000100 N
066 A000100 Y
066 C000100 Y
067 000100 N
068 A000100 N
068 B000100 Y
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 N
070 C020100 N
<PAGE> PAGE 8
070 D010100 Y
070 D020100 N
070 E010100 N
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 N
070 K010100 N
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 Y
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 128590
071 B000100 136605
071 C000100 258971
071 D000100 50
072 A000100 6
072 B000100 870
072 C000100 2334
072 D000100 0
072 E000100 0
072 F000100 1495
072 G000100 0
072 H000100 0
072 I000100 764
072 J000100 214
072 K000100 0
072 L000100 63
072 M000100 7
072 N000100 47
072 O000100 0
072 P000100 0
072 Q000100 11
<PAGE> PAGE 9
072 R000100 26
072 S000100 10
072 T000100 930
072 U000100 0
072 V000100 0
072 W000100 15
072 X000100 3582
072 Y000100 0
072 Z000100 -378
072AA000100 12649
072BB000100 0
072CC010100 0
072CC020100 7131
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 1
074 B000100 0
074 C000100 39956
074 D000100 36
074 E000100 994
074 F000100 253467
074 G000100 0
074 H000100 0
074 I000100 809
074 J000100 391
074 K000100 0
074 L000100 3098
074 M000100 1686
074 N000100 300438
074 O000100 697
074 P000100 492
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 783
074 S000100 0
074 T000100 298466
074 U010100 9322
074 U020100 8547
074 V010100 16.20
074 V020100 15.60
074 W000100 0.0000
074 X000100 47927
074 Y000100 0
075 A000100 0
<PAGE> PAGE 10
075 B000100 298911
076 000100 0.00
008 A000201 VKAC GLOBAL GOVERNMENT SEC. FUND
008 B000201 A
008 C000201 801-801826
008 D010201 OAKBROOK TERRACE
008 D020201 IL
008 D030201 60181
008 A000202 MORGAN STANLEY ASSET MANAGEMENT, INC.
008 B000202 S
008 C000202 801-1234
008 D010202 NEW YORK
008 D020202 NY
008 D030202 10036
028 A010200 358
028 A020200 268
028 A030200 0
028 A040200 3297
028 B010200 224
028 B020200 258
028 B030200 0
028 B040200 3191
028 C010200 360
028 C020200 252
028 C030200 0
028 C040200 2834
028 D010200 4586
028 D020200 240
028 D030200 0
028 D040200 2962
028 E010200 167
028 E020200 236
028 E030200 0
028 E040200 3778
028 F010200 404
028 F020200 224
028 F030200 0
028 F040200 3727
028 G010200 6099
028 G020200 1478
028 G030200 0
028 G040200 19789
028 H000200 501
029 000200 Y
030 A000200 10
030 B000200 4.75
030 C000200 0.00
031 A000200 1
031 B000200 0
032 000200 9
033 000200 0
<PAGE> PAGE 11
034 000200 Y
035 000200 87
036 A000200 N
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 48
042 C000200 52
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 987
044 000200 0
045 000200 Y
046 000200 Y
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
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 48.7
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
<PAGE> PAGE 12
062 G000200 0.0
062 H000200 0.0
062 I000200 0.7
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 49.9
062 N000200 0.9
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 4.8
064 A000200 N
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
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 N
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
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
<PAGE> PAGE 13
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 39090
071 B000200 54860
071 C000200 85094
071 D000200 46
072 A000200 6
072 B000200 2616
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 308
072 G000200 0
072 H000200 0
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072 J000200 68
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072 M000200 6
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072 S000200 8
072 T000200 322
072 U000200 0
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072 X000200 1022
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072CC020200 664
072DD010200 799
072DD020200 1571
072EE000200 0
073 A010200 0.0000
073 A020200 0.2550
073 B000200 0.2250
073 C000200 0.0000
074 A000200 1
074 B000200 0
074 C000200 37481
074 D000200 38584
<PAGE> PAGE 14
074 E000200 0
074 F000200 0
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074 R020200 0
074 R030200 0
074 R040200 618
074 S000200 0
074 T000200 75911
074 U010200 2839
074 U020200 6528
074 V010200 7.59
074 V020200 7.63
074 W000200 0.0000
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075 A000200 0
075 B000200 82175
076 000200 0.00
SIGNATURE NICHOLAS DALMASO
TITLE ASSISTANT SECRETARY
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> GLOBAL EQUITY FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-START> JUN-01-1997
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 274,565,119<F1>
<INVESTMENTS-AT-VALUE> 294,453,104<F1>
<RECEIVABLES> 3,489,193<F1>
<ASSETS-OTHER> 16<F1>
<OTHER-ITEMS-ASSETS> 2,495,925<F1>
<TOTAL-ASSETS> 300,438,238<F1>
<PAYABLE-FOR-SECURITIES> 697,304<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1,275,030<F1>
<TOTAL-LIABILITIES> 1,972,334<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 114,356,947
<SHARES-COMMON-STOCK> 9,321,820
<SHARES-COMMON-PRIOR> 8,645,220
<ACCUMULATED-NII-CURRENT> (1,257,381)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 51,292,931<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 19,800,963<F1>
<NET-ASSETS> 150,967,296
<DIVIDEND-INCOME> 2,334,418<F1>
<INTEREST-INCOME> 869,917<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (3,582,251)<F1>
<NET-INVESTMENT-INCOME> (377,916)<F1>
<REALIZED-GAINS-CURRENT> 12,648,540<F1>
<APPREC-INCREASE-CURRENT> (7,130,854)<F1>
<NET-CHANGE-FROM-OPS> 5,139,770<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,192,732
<NUMBER-OF-SHARES-REDEEMED> (2,516,132)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 14,042,691
<ACCUMULATED-NII-PRIOR> (879,465)<F1>
<ACCUMULATED-GAINS-PRIOR> 38,644,391<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1,494,556<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 3,582,251<F1>
<AVERAGE-NET-ASSETS> 150,591,945
<PER-SHARE-NAV-BEGIN> 15.838
<PER-SHARE-NII> 0.008
<PER-SHARE-GAIN-APPREC> 0.349
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 16.195
<EXPENSE-RATIO> 2.02
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not on a class basis
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<SERIES>
<NUMBER> 12
<NAME> GLOBAL EQUITY FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-START> JUN-01-1997
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 274,565,119<F1>
<INVESTMENTS-AT-VALUE> 294,453,104<F1>
<RECEIVABLES> 3,489,193<F1>
<ASSETS-OTHER> 16
<OTHER-ITEMS-ASSETS> 2,495,925<F1>
<TOTAL-ASSETS> 300,438,238<F1>
<PAYABLE-FOR-SECURITIES> 697,304<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1,275,030<F1>
<TOTAL-LIABILITIES> 1,972,334<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 103,089,702
<SHARES-COMMON-STOCK> 8,546,519
<SHARES-COMMON-PRIOR> 8,101,269
<ACCUMULATED-NII-CURRENT> (1,257,381)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 51,292,931<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 19,800,963<F1>
<NET-ASSETS> 133,364,977
<DIVIDEND-INCOME> 2,334,418<F1>
<INTEREST-INCOME> 869,917<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (3,582,251)<F1>
<NET-INVESTMENT-INCOME> (377,916)<F1>
<REALIZED-GAINS-CURRENT> 12,648,540<F1>
<APPREC-INCREASE-CURRENT> (7,130,854)<F1>
<NET-CHANGE-FROM-OPS> 5,139,770<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,191,878
<NUMBER-OF-SHARES-REDEEMED> (746,628)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 9,268,249
<ACCUMULATED-NII-PRIOR> (879,465)<F1>
<ACCUMULATED-GAINS-PRIOR> 38,644,391<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1,494,556<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 3,582,251<F1>
<AVERAGE-NET-ASSETS> 134,205,807
<PER-SHARE-NAV-BEGIN> 15.318
<PER-SHARE-NII> (0.043)
<PER-SHARE-GAIN-APPREC> 0.329
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 15.604
<EXPENSE-RATIO> 2.78
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not a class basis
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<SERIES>
<NUMBER> 13
<NAME> GLOBAL EQUITY FUND CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-START> JUN-01-1997
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 274,565,119<F1>
<INVESTMENTS-AT-VALUE> 294,453,104<F1>
<RECEIVABLES> 3,489,193<F1>
<ASSETS-OTHER> 16<F1>
<OTHER-ITEMS-ASSETS> 2,495,925<F1>
<TOTAL-ASSETS> 300,438,238<F1>
<PAYABLE-FOR-SECURITIES> 697,304<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 1,275,030<F1>
<TOTAL-LIABILITIES> 1,972,334<F1>
<SENIOR-EQUITY> 0<F1>
<PAID-IN-CAPITAL-COMMON> 11,182,742
<SHARES-COMMON-STOCK> 897,284
<SHARES-COMMON-PRIOR> 843,377
<ACCUMULATED-NII-CURRENT> (1,257,381)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> 51,292,931<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 19,800,963<F1>
<NET-ASSETS> 14,133,631
<DIVIDEND-INCOME> 2,334,418<F1>
<INTEREST-INCOME> 869,917<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (3,582,251)<F1>
<NET-INVESTMENT-INCOME> (377,916)<F1>
<REALIZED-GAINS-CURRENT> 12,648,540<F1>
<APPREC-INCREASE-CURRENT> (7,130,854)<F1>
<NET-CHANGE-FROM-OPS> 5,139,770<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 153,134
<NUMBER-OF-SHARES-REDEEMED> (99,227)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 1,091,047
<ACCUMULATED-NII-PRIOR> (879,465)<F1>
<ACCUMULATED-GAINS-PRIOR> 38,644,391<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 1,494,556<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 3,582,251<F1>
<AVERAGE-NET-ASSETS> 14,113,503
<PER-SHARE-NAV-BEGIN> 15.464
<PER-SHARE-NII> (0.045)
<PER-SHARE-GAIN-APPREC> 0.333
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 15.752
<EXPENSE-RATIO> 2.79
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not a class basis
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<SERIES>
<NUMBER> 21
<NAME> GLOBAL GOVERNMENT CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-START> JUN-01-1997
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 76,365,906<F1>
<INVESTMENTS-AT-VALUE> 76,065,136<F1>
<RECEIVABLES> 347,934<F1>
<ASSETS-OTHER> 7,679<F1>
<OTHER-ITEMS-ASSETS> 240,008<F1>
<TOTAL-ASSETS> 76,660,757<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 749,402<F1>
<TOTAL-LIABILITIES> 749,402<F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 32,406,285
<SHARES-COMMON-STOCK> 2,838,905
<SHARES-COMMON-PRIOR> 3,374,330
<ACCUMULATED-NII-CURRENT> (835,939)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (37,531,071)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 949,455<F1>
<NET-ASSETS> 21,549,442
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 2,616,035<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1,022,101)<F1>
<NET-INVESTMENT-INCOME> 1,593,934<F1>
<REALIZED-GAINS-CURRENT> 1,514,554<F1>
<APPREC-INCREASE-CURRENT> (663,793)<F1>
<NET-CHANGE-FROM-OPS> 2,444,695<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (799,270)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 132,443
<NUMBER-OF-SHARES-REDEEMED> (734,447)
<SHARES-REINVESTED> 66,579
<NET-CHANGE-IN-ASSETS> (4,114,996)
<ACCUMULATED-NII-PRIOR> 94,388<F1>
<ACCUMULATED-GAINS-PRIOR> (30,045,625)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 308,155<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1,022,101<F1>
<AVERAGE-NET-ASSETS> 23,743,701
<PER-SHARE-NAV-BEGIN> 7.604
<PER-SHARE-NII> 0.167
<PER-SHARE-GAIN-APPREC> 0.073
<PER-SHARE-DIVIDEND> (0.255)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.589
<EXPENSE-RATIO> 1.95
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not on a class basis
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<SERIES>
<NUMBER> 22
<NAME> GLOBAL GOVERNMENT CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-START> JUN-01-1997
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 76,365,906<F1>
<INVESTMENTS-AT-VALUE> 76,065,136<F1>
<RECEIVABLES> 347,934<F1>
<ASSETS-OTHER> 7,679<F1>
<OTHER-ITEMS-ASSETS> 240,008<F1>
<TOTAL-ASSETS> 76,660,757<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 749,402<F1>
<TOTAL-LIABILITIES> 749,402<F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 72,841,420
<SHARES-COMMON-STOCK> 6,528,279
<SHARES-COMMON-PRIOR> 7,441,320
<ACCUMULATED-NII-CURRENT> (835,939)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (37,531,071)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 949,455<F1>
<NET-ASSETS> 49,823,221
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 2,616,035<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1,022,101)<F1>
<NET-INVESTMENT-INCOME> 1,593,934<F1>
<REALIZED-GAINS-CURRENT> 1,514,554<F1>
<APPREC-INCREASE-CURRENT> (663,793)<F1>
<NET-CHANGE-FROM-OPS> 2,444,695<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (1,571,348)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 655,159
<NUMBER-OF-SHARES-REDEEMED> (1,685,147)
<SHARES-REINVESTED> 116,957
<NET-CHANGE-IN-ASSETS> (7,066,449)
<ACCUMULATED-NII-PRIOR> 94,388<F1>
<ACCUMULATED-GAINS-PRIOR> (30,045,625)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 308,155<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1,022,101<F1>
<AVERAGE-NET-ASSETS> 53,279,804
<PER-SHARE-NAV-BEGIN> 7.645
<PER-SHARE-NII> 0.135
<PER-SHARE-GAIN-APPREC> 0.077
<PER-SHARE-DIVIDEND> (0.225)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.632
<EXPENSE-RATIO> 2.71
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not on a class basis
</FN>
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<SERIES>
<NUMBER> 23
<NAME> GLOBAL GOVERNMENT CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAY-31-1998
<PERIOD-START> JUN-01-1997
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 76,365,906<F1>
<INVESTMENTS-AT-VALUE> 76,065,136<F1>
<RECEIVABLES> 347,934<F1>
<ASSETS-OTHER> 7,679<F1>
<OTHER-ITEMS-ASSETS> 240,008<F1>
<TOTAL-ASSETS> 76,660,757<F1>
<PAYABLE-FOR-SECURITIES> 0<F1>
<SENIOR-LONG-TERM-DEBT> 0<F1>
<OTHER-ITEMS-LIABILITIES> 749,402<F1>
<TOTAL-LIABILITIES> 749,402<F1>
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 8,081,205
<SHARES-COMMON-STOCK> 600,352
<SHARES-COMMON-PRIOR> 745,566
<ACCUMULATED-NII-CURRENT> (835,939)<F1>
<OVERDISTRIBUTION-NII> 0<F1>
<ACCUMULATED-NET-GAINS> (37,531,071)<F1>
<OVERDISTRIBUTION-GAINS> 0<F1>
<ACCUM-APPREC-OR-DEPREC> 949,455<F1>
<NET-ASSETS> 4,544,692
<DIVIDEND-INCOME> 0<F1>
<INTEREST-INCOME> 2,616,035<F1>
<OTHER-INCOME> 0<F1>
<EXPENSES-NET> (1,022,101)<F1>
<NET-INVESTMENT-INCOME> 1,593,934<F1>
<REALIZED-GAINS-CURRENT> 1,514,554<F1>
<APPREC-INCREASE-CURRENT> (663,793)<F1>
<NET-CHANGE-FROM-OPS> 2,444,695<F1>
<EQUALIZATION> 0<F1>
<DISTRIBUTIONS-OF-INCOME> (153,643)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19,046
<NUMBER-OF-SHARES-REDEEMED> (174,666)
<SHARES-REINVESTED> 10,406
<NET-CHANGE-IN-ASSETS> (1,110,558)
<ACCUMULATED-NII-PRIOR> 94,388<F1>
<ACCUMULATED-GAINS-PRIOR> (39,045,625)<F1>
<OVERDISTRIB-NII-PRIOR> 0<F1>
<OVERDIST-NET-GAINS-PRIOR> 0<F1>
<GROSS-ADVISORY-FEES> 308,155<F1>
<INTEREST-EXPENSE> 0<F1>
<GROSS-EXPENSE> 1,022,101<F1>
<AVERAGE-NET-ASSETS> 5,151,159
<PER-SHARE-NAV-BEGIN> 7.585
<PER-SHARE-NII> 0.089
<PER-SHARE-GAIN-APPREC> 0.121
<PER-SHARE-DIVIDEND> (0.225)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 7.570
<EXPENSE-RATIO> 2.71
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>This item relates to the Fund on a composite basis and not on a class basis
</FN>
</TABLE>
