<PAGE> PAGE 1
000 B000000 11/30/97
000 C000000 0000877151
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 MERRILL LYNCH LATIN AMERICA FUND, INC.
001 B000000 811-6349
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 MERRILL LYNCH ASSET MANAGEMENT, L.P.
008 B000001 A
008 C000001 801-11583
008 D010001 PRINCETON
008 D020001 NJ
008 D030001 08543
008 D040001 9011
008 A000002 MERRILL LYNCH ASSET MANAGEMENT U.K., LTD.
008 B000002 S
008 C000002 801-31780
008 D010002 LONDON
008 D050002 ENGLAND
008 D060002 EC24 9LY
011 A000001 MERRILL LYNCH FUNDS DISTRIBUTOR, INC.
011 B000001 8-14663
011 C010001 PRINCETON
011 C020001 NJ
011 C030001 08543
<PAGE> PAGE 2
011 C040001 9011
012 A000001 MERRILL LYNCH FINANCIAL DATA SERVICES, INC.
012 B000001 84-01339
012 C010001 JACKSONVILLE
012 C020001 FL
012 C030001 32246
012 C040001 6484
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 PRINCETON
013 B020001 NJ
013 B030001 08540
014 A000001 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
014 B000001 8-7221
015 A000001 BROWN BROTHERS HARRIMAN & CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
015 A000002 BANK OF BOSTON
015 B000002 S
015 C010002 SAO PAOLO
015 D010002 BRAZIL
015 E040002 X
015 A000003 CANADIAN IMPERIAL BANK OF COMMERCE
015 B000003 S
015 C010003 TORONTO
015 D010003 CANADA
015 E040003 X
015 A000004 CITIBANK N.A.
015 B000004 S
015 C010004 NEW YORK
015 C020004 NY
015 C030004 10005
015 E010004 X
015 A000005 ROYAL BANK OF SCOTLAND
015 B000005 S
015 C010005 UNITED KINGDOM
015 D010005 UNITED KINGDOM
015 E040005 X
015 A000006 BANCO DE MEXICO
015 B000006 S
015 C010006 MEXICO
015 D010006 MEXICO
015 E040006 X
015 A000007 CITITRUST COLOMBIA S.A.
015 B000007 S
015 C010007 BOGOTA
015 D010007 COLOMBIA
015 E040007 X
015 A000008 CLC
<PAGE> PAGE 3
015 B000008 S
015 C010008 BRAZIL
015 D010008 BRAZIL
015 E040008 X
015 A000009 CAJA DE VALORES
015 B000009 S
015 C010009 ARGENTINA
015 D010009 ARGENTINA
015 E040009 X
015 A000010 BOVESPA
015 B000010 S
015 C010010 BRAZIL
015 D010010 BRAZIL
015 E040010 X
015 A000011 CANADIAN DEPOSITORY FOR SECURITIES
015 B000011 S
015 C010011 CANADA
015 D010011 CANADA
015 E040011 X
015 A000012 CEDEL, S.A.
015 B000012 S
015 C010012 LUXEMBOURG
015 D010012 LUXEMBOURG
015 E040012 X
015 A000013 INDEVAL
015 B000013 S
015 C010013 MEXICO
015 D010013 MEXICO
015 E040013 X
015 A000014 THE BANK OF NEW YORK
015 B000014 S
015 C010014 NEW YORK
015 C020014 NY
015 C030014 10015
015 E010014 X
015 A000015 BANKERS TRUST COMPANY
015 B000015 S
015 C010015 NEW YORK
015 C020015 NY
015 C030015 10006
015 E010015 X
015 A000016 CAVALI
015 B000016 S
015 C010016 PERU
015 D010016 PERU
015 E040016 X
015 A000017 CUSTODIAL TRUST CO.
015 B000017 S
015 C010017 NEW YORK
015 C020017 NY
015 C030017 10167
<PAGE> PAGE 4
015 E010017 X
015 A000018 MORGAN GUARANTEE TRUST CO.
015 B000018 S
015 C010018 NEW YORK
015 C020018 NY
015 C030018 10260
015 E010018 X
015 A000019 CGO
015 B000019 S
015 C010019 UNITED KINGDOM
015 D010019 UNITED KINGDOM
015 E040019 X
015 A000020 CMO
015 B000020 S
015 C010020 UNITED KINGDOM
015 D010020 UNITED KINGDOM
015 E040020 X
015 A000021 EUROCLEAR
015 B000021 S
015 C010021 BELGIUM
015 D010021 BELGIUM
015 E040021 X
015 A000022 CVV
015 B000022 S
015 C010022 VENEZUELA
015 D010022 VENEZUELA
015 E040022 X
018 000000 Y
019 A000000 Y
019 B000000 200
019 C000000 MERRILLLYN
020 A000001 BEAR, STEARNS & CO. INC.
020 B000001 13-3299429
020 C000001 520
020 A000002 ROBERT FLEMING INC.
020 B000002 13-3298866
020 C000002 300
020 A000003 ING BARING (U.S.) SECURITIES, INC.
020 C000003 293
020 A000004 CREDIT SUISSE FIRST BOSTON CORPORATION
020 B000004 13-5659485
020 C000004 260
020 A000005 DEUTSCHE MORGAN GRENFELL INC.
020 B000005 13-2730828
020 C000005 171
020 A000006 MORGAN (J.P.) SECURITIES INC.
020 B000006 13-3224016
020 C000006 169
020 A000007 GARANTIA INC.
020 C000007 144
020 A000008 SBC WARBURG INC.
<PAGE> PAGE 5
020 B000008 13-3340045
020 C000008 142
020 A000009 MORGAN STANLEY & CO. INCORPORATED
020 B000009 13-2655998
020 C000009 140
020 A000010 SALOMON BROTHERS INC
020 B000010 13-3082694
020 C000010 119
021 000000 3466
022 A000001 GENERAL MOTORS ACCEPTANCE CORP.
022 C000001 3216893
022 D000001 0
022 A000002 GENERAL ELECTRIC CAPITAL CORP.
022 C000002 763560
022 D000002 0
022 A000003 ASSOCIATE CORP. OF NORTH AMERICA
022 C000003 561374
022 D000003 0
022 A000004 FORD MOTOR CREDIT CORP.
022 C000004 59387
022 D000004 0
022 A000005 LEHMAN BROTHERS INC.
022 B000005 13-2518466
022 C000005 57310
022 D000005 0
022 A000006 GOLDMAN, SACHS & CO.
022 B000006 13-5108880
022 C000006 50243
022 D000006 0
022 A000007 MORGAN (J.P.) SECURITIES INC.
022 B000007 13-3224016
022 C000007 42762
022 D000007 2788
022 A000008 MORGAN STANLEY & CO. INCORPORATED
022 B000008 13-2655998
022 C000008 44532
022 D000008 0
022 A000009 OPPENHEIMER & CO., INC.
022 B000009 13-2798343
022 C000009 23016
022 D000009 0
022 A000010 BT SECURITIES CORPORATION
022 C000010 10171
022 D000010 12243
023 C000000 4944098
023 D000000 63485
024 000000 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
<PAGE> PAGE 6
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 26176
028 A020000 0
028 A030000 0
028 A040000 21239
028 B010000 55640
028 B020000 0
028 B030000 0
028 B040000 45092
028 C010000 32627
028 C020000 0
028 C030000 0
028 C040000 34091
028 D010000 33781
028 D020000 0
028 D030000 0
028 D040000 39786
028 E010000 31706
028 E020000 0
028 E030000 0
028 E040000 67974
028 F010000 35891
028 F020000 0
028 F030000 0
028 F040000 49722
028 G010000 215821
028 G020000 0
028 G030000 0
028 G040000 257904
028 H000000 30882
029 000000 Y
030 A000000 354
030 B000000 5.25
030 C000000 0.00
031 A000000 24
031 B000000 0
032 000000 0
033 000000 330
034 000000 Y
035 000000 1774
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
<PAGE> PAGE 7
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 6785
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.000
048 A010000 0
048 A020000 0.000
048 B010000 0
048 B020000 0.000
048 C010000 0
048 C020000 0.000
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 0
048 K020000 0.000
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
<PAGE> PAGE 8
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
055 A000000 Y
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 N
060 B000000 N
061 000000 0
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
<PAGE> PAGE 9
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 Y
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 677315
071 B000000 777149
071 C000000 797726
071 D000000 85
072 A000000 12
072 B000000 1504
072 C000000 19610
072 D000000 0
072 E000000 0
072 F000000 8579
072 G000000 174
072 H000000 0
072 I000000 1792
072 J000000 1745
072 K000000 0
072 L000000 188
072 M000000 37
072 N000000 103
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 44
072 S000000 38
<PAGE> PAGE 10
072 T000000 6785
072 U000000 0
072 V000000 0
072 W000000 75
072 X000000 19560
072 Y000000 0
072 Z000000 1554
072AA000000 243375
072BB000000 77885
072CC010000 0
072CC020000 26565
072DD010000 4926
072DD020000 12698
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 30804
074 B000000 0
074 C000000 103768
074 D000000 77917
074 E000000 134316
074 F000000 507748
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 727
074 K000000 0
074 L000000 2019
074 M000000 45
074 N000000 857344
074 O000000 81540
074 P000000 1034
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 4704
074 S000000 0
074 T000000 770066
074 U010000 13656
074 U020000 38507
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 103334
074 Y000000 0
075 A000000 0
075 B000000 860250
076 000000 0.00
<PAGE> PAGE 11
077 A000000 Y
077 B000000 Y
077 O000000 Y
078 000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000 1250
081 A000000 Y
081 B000000 118
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
SIGNATURE GERALD M. RICHARD
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000877151
<NAME> MERRILL LYNCH LATIN AMERICA FUND, INC.
<SERIES>
<NUMBER> 001
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 791781969
<INVESTMENTS-AT-VALUE> 823749434
<RECEIVABLES> 2745897
<ASSETS-OTHER> 30848239
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 857343570
<PAYABLE-FOR-SECURITIES> 81539797
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5738180
<TOTAL-LIABILITIES> 87277977
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 835325323
<SHARES-COMMON-STOCK> 5106408
<SHARES-COMMON-PRIOR> 3614256
<ACCUMULATED-NII-CURRENT> (237280)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (96549936)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31527486
<NET-ASSETS> 77085775
<DIVIDEND-INCOME> 19610476
<INTEREST-INCOME> 1503658
<OTHER-INCOME> 0
<EXPENSES-NET> (19559873)
<NET-INVESTMENT-INCOME> 1554261
<REALIZED-GAINS-CURRENT> 165490154
<APPREC-INCREASE-CURRENT> (26565240)
<NET-CHANGE-FROM-OPS> 140479175
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1603289)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5567495
<NUMBER-OF-SHARES-REDEEMED> (4184228)
<SHARES-REINVESTED> 108885
<NET-CHANGE-IN-ASSETS> 68815684
<ACCUMULATED-NII-PRIOR> 17612088
<ACCUMULATED-GAINS-PRIOR> (263705203)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (601566)
<GROSS-ADVISORY-FEES> 8578935
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19559873
<AVERAGE-NET-ASSETS> 77334922
<PER-SHARE-NAV-BEGIN> 12.83
<PER-SHARE-NII> .17
<PER-SHARE-GAIN-APPREC> 2.54
<PER-SHARE-DIVIDEND> (.44)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.10
<EXPENSE-RATIO> 1.46
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000877151
<NAME> MERRILL LYNCH LATIN AMERICA FUND, INC.
<SERIES>
<NUMBER> 002
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 791781969
<INVESTMENTS-AT-VALUE> 823749434
<RECEIVABLES> 2745897
<ASSETS-OTHER> 30848239
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 857343570
<PAYABLE-FOR-SECURITIES> 81539797
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5738180
<TOTAL-LIABILITIES> 87277977
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 835325323
<SHARES-COMMON-STOCK> 35977136
<SHARES-COMMON-PRIOR> 41633526
<ACCUMULATED-NII-CURRENT> (237280)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (96549936)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31527486
<NET-ASSETS> 527520345
<DIVIDEND-INCOME> 19610476
<INTEREST-INCOME> 1503658
<OTHER-INCOME> 0
<EXPENSES-NET> (19559873)
<NET-INVESTMENT-INCOME> 1554261
<REALIZED-GAINS-CURRENT> 165490154
<APPREC-INCREASE-CURRENT> (26565240)
<NET-CHANGE-FROM-OPS> 140479175
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12117748)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8877378
<NUMBER-OF-SHARES-REDEEMED> (15395919)
<SHARES-REINVESTED> 862151
<NET-CHANGE-IN-ASSETS> 68815684
<ACCUMULATED-NII-PRIOR> 17612088
<ACCUMULATED-GAINS-PRIOR> (263705203)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (601566)
<GROSS-ADVISORY-FEES> 8578935
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19559873
<AVERAGE-NET-ASSETS> 610181682
<PER-SHARE-NAV-BEGIN> 12.46
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 2.50
<PER-SHARE-DIVIDEND> (.30)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.66
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000877151
<NAME> MERRILL LYNCH LATIN AMERICA FUND, INC.
<SERIES>
<NUMBER> 003
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 791781969
<INVESTMENTS-AT-VALUE> 823749434
<RECEIVABLES> 2745897
<ASSETS-OTHER> 30848239
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 857343570
<PAYABLE-FOR-SECURITIES> 81539797
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5738180
<TOTAL-LIABILITIES> 87277977
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 835325323
<SHARES-COMMON-STOCK> 2529568
<SHARES-COMMON-PRIOR> 1860500
<ACCUMULATED-NII-CURRENT> (237280)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (96549936)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31527486
<NET-ASSETS> 37026502
<DIVIDEND-INCOME> 19610476
<INTEREST-INCOME> 1503658
<OTHER-INCOME> 0
<EXPENSES-NET> (19559873)
<NET-INVESTMENT-INCOME> 1554261
<REALIZED-GAINS-CURRENT> 165490154
<APPREC-INCREASE-CURRENT> (26565240)
<NET-CHANGE-FROM-OPS> 140479175
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (579869)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2398269
<NUMBER-OF-SHARES-REDEEMED> (1771078)
<SHARES-REINVESTED> 41877
<NET-CHANGE-IN-ASSETS> 68815684
<ACCUMULATED-NII-PRIOR> 17612088
<ACCUMULATED-GAINS-PRIOR> (263705203)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (601566)
<GROSS-ADVISORY-FEES> 8578935
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19559873
<AVERAGE-NET-ASSETS> 35943947
<PER-SHARE-NAV-BEGIN> 12.46
<PER-SHARE-NII> (.02)
<PER-SHARE-GAIN-APPREC> 2.52
<PER-SHARE-DIVIDEND> (.32)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.64
<EXPENSE-RATIO> 2.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000877151
<NAME> MERRILL LYNCH LATIN AMERICA FUND, INC.
<SERIES>
<NUMBER> 004
<NAME> CLASS D
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> NOV-30-1997
<PERIOD-START> DEC-01-1996
<PERIOD-END> NOV-30-1997
<INVESTMENTS-AT-COST> 791781969
<INVESTMENTS-AT-VALUE> 823749434
<RECEIVABLES> 2745897
<ASSETS-OTHER> 30848239
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 857343570
<PAYABLE-FOR-SECURITIES> 81539797
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5738180
<TOTAL-LIABILITIES> 87277977
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 835325323
<SHARES-COMMON-STOCK> 8549978
<SHARES-COMMON-PRIOR> 8838830
<ACCUMULATED-NII-CURRENT> (237280)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (96549936)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 31527486
<NET-ASSETS> 128432971
<DIVIDEND-INCOME> 19610476
<INTEREST-INCOME> 1503658
<OTHER-INCOME> 0
<EXPENSES-NET> (19559873)
<NET-INVESTMENT-INCOME> 1554261
<REALIZED-GAINS-CURRENT> 165490154
<APPREC-INCREASE-CURRENT> (26565240)
<NET-CHANGE-FROM-OPS> 140479175
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3322519)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7291444
<NUMBER-OF-SHARES-REDEEMED> (7805127)
<SHARES-REINVESTED> 224831
<NET-CHANGE-IN-ASSETS> 68815684
<ACCUMULATED-NII-PRIOR> 17612088
<ACCUMULATED-GAINS-PRIOR> (263705203)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (601566)
<GROSS-ADVISORY-FEES> 8578935
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19559873
<AVERAGE-NET-ASSETS> 136789816
<PER-SHARE-NAV-BEGIN> 12.77
<PER-SHARE-NII> .11
<PER-SHARE-GAIN-APPREC> 2.54
<PER-SHARE-DIVIDEND> (.40)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.02
<EXPENSE-RATIO> 1.71
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
