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<PAGE> PAGE 2
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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SIGNATURE LAURA FERGERSON
TITLE ASST. TREASURER
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE ADJUSTAB
LE RATE SECURITIES PORTFOLIOS APRIL 30, 1999 SEMI-ANNUAL REPORT AND IS QUALIFIED
IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
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<NAME> U.S. GOVERNMENT ADJUSTABLE RATE MORTGAGE PORTFOLIO
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