LIQUID INSTITUTIONAL RESERVES
NSAR-B, EX-27, 2000-06-29
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000872475
<NAME> LIQUID INSTITUTIONAL RESERVES
<SERIES>
   <NUMBER> 02
   <NAME> GOVERNMENT SECURITIES FUND
<MULTIPLIER> 1,000

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          APR-30-2000
<PERIOD-START>                             MAY-01-1999
<PERIOD-END>                               APR-30-2000
<INVESTMENTS-AT-COST>                          122,349
<INVESTMENTS-AT-VALUE>                         122,349
<RECEIVABLES>                                      137
<ASSETS-OTHER>                                     100
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 122,586
<PAYABLE-FOR-SECURITIES>                         0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          689
<TOTAL-LIABILITIES>                               689
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        121,888
<SHARES-COMMON-STOCK>                           121,888
<SHARES-COMMON-PRIOR>                          134,744
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           0
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                   121,897
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                7,932
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     425
<NET-INVESTMENT-INCOME>                          7,507
<REALIZED-GAINS-CURRENT>                            10
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            7,517
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (7,507)
<DISTRIBUTIONS-OF-GAINS>                           (11)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        348,454
<NUMBER-OF-SHARES-REDEEMED>                  (372,397)
<SHARES-REINVESTED>                              7,058
<NET-CHANGE-IN-ASSETS>                        (16,885)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              368
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    484
<AVERAGE-NET-ASSETS>                           147,061
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                  0.051
<PER-SHARE-GAIN-APPREC>                           0.00
<PER-SHARE-DIVIDEND>                           (0.051)
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   0.29



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