<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
ADJUSTABLE RATE SECURITIES PORTFOLIOS OCTOBER 31, 2000 ANNUAL REPORT AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> U.S. GOVERNMENT ADJUSTABLE RATE MORTGAGE PORTFOLIO
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 234,689,401
<INVESTMENTS-AT-VALUE> 231,752,547
<RECEIVABLES> 2,176,569
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 233,929,116
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 980,096
<TOTAL-LIABILITIES> 980,096
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 328,617,301
<SHARES-COMMON-STOCK> 25,049,290
<SHARES-COMMON-PRIOR> 30,278,780
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (92,731,427)
<ACCUM-APPREC-OR-DEPREC> (2,936,854)
<NET-ASSETS> 232,949,020
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 16,163,151
<OTHER-INCOME> 0
<EXPENSES-NET> (1,091,365)
<NET-INVESTMENT-INCOME> 15,071,786
<REALIZED-GAINS-CURRENT> (210,331)
<APPREC-INCREASE-CURRENT> (250,160)
<NET-CHANGE-FROM-OPS> 14,611,295
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (15,071,786)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,344,642
<NUMBER-OF-SHARES-REDEEMED> (15,197,502)
<SHARES-REINVESTED> 1,623,370
<NET-CHANGE-IN-ASSETS> (49,024,921)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (136,995,890)
<GROSS-ADVISORY-FEES> (1,014,088)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (1,091,365)
<AVERAGE-NET-ASSETS> 252,772,134
<PER-SHARE-NAV-BEGIN> 9.310
<PER-SHARE-NII> .555<F1>
<PER-SHARE-GAIN-APPREC> (.010)
<PER-SHARE-DIVIDEND> (.555)
<PER-SHARE-DISTRIBUTIONS> .000
<RETURNS-OF-CAPITAL> .000
<PER-SHARE-NAV-END> 9.300
<EXPENSE-RATIO> .430
<FN>
<F1>BASED ON AVERAGE SHARES OUTSTANDING.
</FN>
</TABLE>
