<PAGE> PAGE 1
000 A000000 06/30/95
000 C000000 878087
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 TEMPLETON DEVELOPING MARKETS TRUST
001 B000000 811-6378
001 C000000 3055277591
002 A000000 500 E BROWARD BLVD SUITE 2100
002 B000000 FT LAUDERDALE
002 C000000 FL
002 D010000 33394
002 D020000 3091
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 TEMPLETON INVESTMENT MANAGEMENT (HK) LTD
008 B000001 A
008 C000001 801-42353
008 D010001 HONG KONG
008 D050001 HONG KONG
010 A000001 TEMPLETON GLOBAL INVESTORS INC
010 B000001 8-31192
010 C010001 FT LAUDERDALE
010 C020001 FL
010 C030001 33394
010 C040001 3091
011 A000001 FRANKLIN TEMPLETON DISTRIBUTORS INC
011 B000001 8-00000
011 C010001 ST PETERSBURG
011 C020001 FL
011 C030001 33701
011 C040001 3628
012 A000001 FRANKLIN TEMPLETON INVESTOR SERVICES INC
<PAGE> PAGE 2
012 B000001 84-00000
012 C010001 ST PETERSBURG
012 C020001 FL
012 C030001 33701
012 C040001 3628
013 A000001 MC GLADREY & PULLEN, LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
013 B040001 2416
015 A000001 THE CHASE MANHATTAN BANK NA
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10036
015 E010001 X
015 A000002 CHASE MANHATTAN BANK NA
015 B000002 S
015 C010002 BUENOS AIRES
015 D010002 ARGENTINA
015 E040002 X
015 A000003 CHASE MANHATTAN BANK AUSTRALIA LTD
015 B000003 S
015 C010003 NEW SOUTH WALES
015 D010003 AUSTRALIA
015 D020003 2000
015 E040003 X
015 A000004 CREDITANSTALT BANKVEREIN
015 B000004 S
015 C010004 VIENNA
015 D010004 AUSTRIA
015 E040004 X
015 A000005 GENERALE BANK
015 B000005 S
015 C010005 BRUXELLES
015 D010005 BELGIUM
015 E040005 X
015 A000006 BANCO CHASE MANHATTAN SA
015 B000006 S
015 C010006 BAO PAULO
015 D010006 BRAZIL
015 D020006 04719-002
015 E040006 X
015 A000007 THE ROYAL BANK OF CANADA
015 B000007 S
015 C010007 TORONTO
015 D010007 CANADA
015 D020007 M5J 2J5
015 E040007 X
015 A000008 CANADA TRUST COMPANY
015 B000008 S
<PAGE> PAGE 3
015 C010008 TORONTO
015 D010008 CANADA
015 D020008 M5J 2T2
015 E040008 X
015 A000009 DEN DANSKE BANK
015 B000009 S
015 C010009 COPENHAGEN
015 D010009 DENMARK
015 E040009 X
015 A000010 KANSALLIS OSAKE PANKKI
015 B000010 S
015 C010010 HELSINKI
015 D010010 FINLAND
015 E040010 X
015 A000011 BANQUE PARIBAS
015 B000011 S
015 C010011 PARIS
015 D010011 FRANCE
015 D020011 75078
015 E040011 X
015 A000012 CHASE BANK AG
015 B000012 S
015 C010012 FRANKFORT
015 D010012 GERMANY
015 E040012 X
015 A000013 BARCLAYS BANK PLC
015 B000013 S
015 C010013 ATHENS
015 D010013 GREECE
015 E040013 X
015 A000014 CHASE MANHATTAN BANK NA
015 B000014 S
015 C010014 HONG KONG
015 D010014 HONG KONG
015 E040014 X
015 A000015 THE HONGKONG AND SHANGHAI BANKING CORP
015 B000015 S
015 C010015 JAKARTA
015 D010015 INDONESIA
015 D020015 10023
015 E040015 X
015 A000016 BANK OF IRELAND
015 B000016 S
015 C010016 DUBLIN
015 D010016 IRELAND
015 E040016 X
015 A000017 CHASE MANHATTAN BANK NA
015 B000017 S
015 C010017 MILAN
015 D010017 ITALY
015 E040017 X
<PAGE> PAGE 4
015 A000018 CHASE MANHATTAN BANK NA
015 B000018 S
015 C010018 TOKYO
015 D010018 JAPAN
015 D020018 100
015 E040018 X
015 A000019 CHASE MANHATTAN BANK NA
015 B000019 S
015 C010019 KUALA LUMPUR
015 D010019 MALAYSIA
015 D020019 50250
015 E040019 X
015 A000020 CHASE MANHATTAN BANK NA
015 B000020 S
015 C010020 MEXICO CITY
015 D010020 MEXICO
015 D020020 06660
015 E040020 X
015 A000021 ABN AMRO NV
015 B000021 S
015 C010021 ROTTERDAM
015 D010021 NETHERLANDS
015 E040021 X
015 A000022 NATIONAL AUSTRALIA BANK LTD
015 B000022 S
015 C010022 AUCKLAND
015 D010022 NEW ZEALAND
015 E040022 X
015 A000023 DEN NORSKE BANK
015 B000023 S
015 C010023 OLSO
015 D010023 NORWAY
015 E040023 X
015 A000024 THE HONGKONG AND SHANGHAI BANKING CORP
015 B000024 S
015 C010024 MANILA
015 D010024 PHILIPPINES
015 E040024 X
015 A000025 BANK HANDLOWY W WARSAWIE SA
015 B000025 S
015 C010025 WARSAW
015 D010025 POLAND
015 E040025 X
015 A000026 THE HONGKONG AND SHANGHAI BANKING CORP
015 B000026 S
015 C010026 SHANGHAI
015 D010026 CHINA
015 E040026 X
015 A000027 THE HONGKONG AND SHANGHAI BANKING CORP
015 B000027 S
015 C010027 SHENZHEN
<PAGE> PAGE 5
015 D010027 CHINA
015 E040027 X
015 A000028 CITIBANK NA
015 B000028 S
015 C010028 LIMA
015 D010028 PERU
015 E040028 X
015 A000029 BANCO ESPIRITO SANTO E COMMERCIAL DE LISBOA
015 B000029 S
015 C010029 LISBON
015 D010029 PORTUGAL
015 E040029 X
015 A000030 CHASE MANHATTAN BANK NA
015 B000030 S
015 C010030 SINGAPORE
015 D010030 SINGAPORE
015 D020030 0104
015 E040030 X
015 A000031 CHASE MANHATTAN BANK
015 B000031 S
015 C010031 MADRID
015 D010031 SPAIN
015 D020031 28042
015 E040031 X
015 A000032 THE HONGKONG AND SHANGHAI BANKING CORP
015 B000032 S
015 C010032 COLOMBO
015 D010032 SRI LANKA
015 E040032 X
015 A000033 SKANDINAVISKA ENSKILDA BANKEN
015 B000033 S
015 C010033 STOCKHOLM
015 D010033 SWEDEN
015 E040033 X
015 A000034 UNION BANK OF SWITZERLAND
015 B000034 S
015 C010034 ZURICH
015 D010034 SWITZERLAND
015 D020034 8021
015 E040034 X
015 A000035 CHASE MANHATTAN BANK
015 B000035 S
015 C010035 BANGKOK
015 D010035 THAILAND
015 D020035 10500
015 E040035 X
015 A000036 CHASE MANHATTAN BANK
015 B000036 S
015 C010036 LONDON
015 D010036 UNITED KINGDOM
015 D020036 EC2P 2HD
<PAGE> PAGE 6
015 E040036 X
015 A000037 STANDARD CHARTERED BANK
015 B000037 S
015 C010037 DHAKA
015 D010037 BANGLADESH
015 E040037 X
015 A000038 CHASE MANHATTAN BANK NA
015 B000038 S
015 C010038 ISTANBUL
015 D010038 TURKEY
015 E040038 X
015 A000039 BANK LEUMI LE- ISRAEL BM
015 B000039 S
015 C010039 TEL AVIV
015 D010039 ISRAEL
015 E040039 X
015 A000040 CITIBANK NA
015 B000040 S
015 C010040 KARACHI
015 D010040 PAKISTAN
015 E040040 X
015 A000041 HONGKONG AND SHANGHAI BANKING CORP
015 B000041 S
015 C010041 SEOUL
015 D010041 SOUTH KOREA
015 E040041 X
015 A000042 CITIBANK NA
015 B000042 S
015 C010042 CARACAS
015 D010042 VENEZUELA
015 E040042 X
015 A000043 CEDEL SA
015 B000043 S
015 C010043 LONDON
015 D010043 LUXEMBOURG
015 E040043 X
015 A000044 FIRST CHICAGO CLEARING CENTRE
015 B000044 S
015 C010044 LONDON
015 D010044 UNITED KINGDOM
015 E040044 X
015 A000045 CITIBANK BUDAPEST RT
015 B000045 S
015 C010045 BUDAPEST
015 D010045 HUNGARY
015 E040045 X
015 A000046 RESERVE BANK (AUST)
015 B000046 S
015 C010046 SYDNEY
015 D010046 AUSTRALIA
015 E040046 X
<PAGE> PAGE 7
015 A000047 THE FIRST NATIONAL BANK OF BOSTON
015 B000047 S
015 C010047 MONTEVIDEO
015 D010047 URUGUAY
015 E040047 X
015 A000048 CITITRUST COLOMBIA SA
015 B000048 S
015 C010048 SANTAFE DE BOGOTA
015 D010048 COLOMBIA
015 E040048 X
015 A000049 BANQUE COMMERCIALE DU MAROC
015 B000049 S
015 C010049 CASABLANCA
015 D010049 MOROCCO
015 E040049 X
015 A000050 HONGKONG AND SHANGHAI BANKING CORP
015 B000050 S
015 C010050 BOMBAY
015 D010050 INDIA
015 D020050 400011
015 E040050 X
015 A000051 BARCLAYS BANK OF ZIMBABWE
015 B000051 S
015 C010051 HARARE
015 D010051 ZIMBABWE
015 E040051 X
015 A000052 STANDARD BANK OF SOUTH AFRICA
015 B000052 S
015 C010052 JOHANNESBURG
015 D010052 SOUTH AFRICA
015 E040052 X
"015 A000053 CESKOSLOVENSKA OBEHODNI BANKA, AS"
015 B000053 S
015 C010053 PRAHA
015 D010053 CZECH REPUBLIC
015 E040053 X
015 A000054 NATIONAL BANK OF EGYPT
015 B000054 S
015 C010054 CAIRO
015 D010054 EGYPT
015 E040054 X
015 A000055 THE HONGKONG AND SHANGHAI BANK
015 B000055 S
015 C010055 PORT LOUIS
015 D010055 MAURITIUS
015 E040055 X
"015 A000056 CESKOSLOVENSKA OBCHODNI BANKA, S.A. (CSOB)"
015 B000056 S
015 C010056 BRATISLAVA
015 D010056 SLAOVAK REPUBLIC
015 D020056 815 63
<PAGE> PAGE 8
015 E040056 X
018 000000 Y
019 A000000 Y
019 B000000 190
019 C000000 FRNKTEMGRP
020 A000001 MORGAN GRENFELL
020 B000001 HONG KONG
020 C000001 222
020 A000002 CARNEGIE INTERNATIONAL
020 B000002 PORTUGAL
020 C000002 158
020 A000003 MILDESA SERVICIOS BURSAT
020 B000003 ARGENTINA
020 C000003 136
020 A000004 P T MAKINDO
020 B000004 INDONESIA
020 C000004 103
020 A000005 SMITH NEWCOURT
020 B000005 HONG KONG
020 C000005 102
020 A000006 GLOBAL SECURITIES INC.
020 B000006 TURKEY
020 C000006 95
020 A000007 BARING SECURITIES
020 B000007 ARGENTINA
020 C000007 84
020 A000008 INTERACCIONES NY
020 B000008 13-3663176
020 C000008 57
020 A000009 ICATU
020 B000009 BRAZIL
020 C000009 54
020 A000010 MAXWELL Y ESPINOSA
020 B000010 SPAIN
020 C000010 52
021 000000 1063
022 A000001 CHASE MANHATTAN BANK
022 B000001 13-2633612
022 C000001 1948339
022 D000001 184588
022 A000002 MORGAN GRENFELL
022 B000002 HONG KONG
022 C000002 3522
022 D000002 0
022 A000003 PT ASIAN DEVELOPEMENT
022 B000003 INDONESIA
022 C000003 791
022 D000003 0
022 A000004 GIROVREDIT BUDAPEST
022 B000004 HUNGARY
022 C000004 423
<PAGE> PAGE 9
022 D000004 0
022 A000005 MILDESA SERVICEOS BERSAT
022 B000005 ARGENTINA
022 C000005 117
022 D000005 0
022 A000006 JARDINE FLEMMING
022 B000006 HONG KONG
022 C000006 98
022 D000006 116
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 1958769
023 D000000 184704
024 000000 Y
025 A000001 KHADIM ALI SHAM BUKHARI & CO LTD
025 B000001 PAKISTAN
025 C000001 E
025 D000001 234
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
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 Y
027 000000 Y
028 A010000 42895
028 A020000 93
028 A030000 0
028 A040000 39049
028 B010000 41547
028 B020000 8767
028 B030000 0
028 B040000 31257
028 C010000 48699
028 C020000 222
<PAGE> PAGE 10
028 C030000 0
028 C040000 40801
028 D010000 -41351
028 D020000 101352
028 D030000 0
028 D040000 26963
028 E010000 59724
028 E020000 -46
028 E030000 0
028 E040000 27467
028 F010000 44696
028 F020000 0
028 F030000 0
028 F040000 41002
028 G010000 196210
028 G020000 110388
028 G030000 0
028 G040000 206539
028 H000000 69035
029 000000 Y
030 A000000 8178
030 B000000 5.75
030 C000000 0.00
031 A000000 1189
031 B000000 0
032 000000 6989
033 000000 0
034 000000 Y
035 000000 13
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 0
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 100
043 000000 3467
044 000000 746
045 000000 Y
046 000000 N
047 000000 Y
048 000000 1.250
048 A010000 0
<PAGE> PAGE 11
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 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
054 O000000 Y
055 A000000 N
055 B000000 N
056 000000 Y
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
061 000000 100
062 A000000 N
<PAGE> PAGE 12
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
063 A000000 0
063 B000000 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
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 N
070 K010000 N
<PAGE> PAGE 13
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 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000 317428
071 B000000 68992
071 C000000 1356404
071 D000000 5
072 A000000 6
072 B000000 18517
072 C000000 28326
072 D000000 0
072 E000000 0
072 F000000 12364
072 G000000 1027
072 H000000 0
072 I000000 1720
072 J000000 1450
072 K000000 310
072 L000000 420
072 M000000 68
072 N000000 190
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 24
072 S000000 5
072 T000000 3467
072 U000000 0
072 V000000 0
072 W000000 22
072 X000000 21067
072 Y000000 0
072 Z000000 25776
072AA000000 25458
072BB000000 6711
072CC010000 0
072CC020000 3300
072DD010000 754
072DD020000 0
<PAGE> PAGE 14
072EE000000 9802
073 A010000 0.0100
073 A020000 0.0000
073 B000000 0.0600
073 C000000 0.0000
074 A000000 1104
074 B000000 0
074 C000000 598521
074 D000000 12257
074 E000000 109585
074 F000000 1431229
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 1503
074 K000000 0
074 L000000 12212
074 M000000 0
074 N000000 2166411
074 O000000 16776
074 P000000 0
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 9754
074 S000000 0
074 T000000 2139881
074 U010000 156872
074 U020000 471
074 V010000 13.60
074 V020000 13.58
074 W000000 0.0000
074 X000000 255738
074 Y000000 0
075 A000000 0
075 B000000 1996194
076 000000 0.00
077 A000000 N
080 A000000 ICI MUTUAL INSURANCE COMPANY
080 C000000 130000
081 A000000 Y
081 B000000 185
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
<PAGE> PAGE 15
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE JAMES R BAIO
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON DEVELOPING MARKETS TRUST JUNE 30, 1995 SEMI ANNUAL REPORT
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 001
<NAME> TEMPLETON DEVELOPING MARKETS TRUST
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 2104345846
<INVESTMENTS-AT-VALUE> 2151592033
<RECEIVABLES> 13714806
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1103784
<TOTAL-ASSETS> 2166410623
<PAYABLE-FOR-SECURITIES> 16776020
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9753806
<TOTAL-LIABILITIES> 26529826
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2049664705
<SHARES-COMMON-STOCK> 156871523<F1>
<SHARES-COMMON-PRIOR> 149707251<F1>
<ACCUMULATED-NII-CURRENT> 27870400
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15099505
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 47246187
<NET-ASSETS> 2139880797
<DIVIDEND-INCOME> 28325972
<INTEREST-INCOME> 18516892
<OTHER-INCOME> 0
<EXPENSES-NET> 21066928
<NET-INVESTMENT-INCOME> 25775936
<REALIZED-GAINS-CURRENT> 18746760
<APPREC-INCREASE-CURRENT> (3299550)
<NET-CHANGE-FROM-OPS> 41223146
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (754003)
<DISTRIBUTIONS-OF-GAINS> (9802047)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14348276<F1>
<NUMBER-OF-SHARES-REDEEMED> (15868041)<F1>
<SHARES-REINVESTED> 8684037<F1>
<NET-CHANGE-IN-ASSETS> 130726609
<ACCUMULATED-NII-PRIOR> 2848467
<ACCUMULATED-GAINS-PRIOR> 6154792
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 12363756
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 21066928
<AVERAGE-NET-ASSETS> 1994893000<F1>
<PER-SHARE-NAV-BEGIN> 13.42<F1>
<PER-SHARE-NII> .16<F1>
<PER-SHARE-GAIN-APPREC> .09<F1>
<PER-SHARE-DIVIDEND> (.01)<F1>
<PER-SHARE-DISTRIBUTIONS> (.06)<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.60<F1>
<EXPENSE-RATIO> 2.13<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>EFFECTIVE MAY 1, 1995 THE FUND OFFERED TWO CLASSES OF SHARES: CLASS I
SHARES AND CLASS II SHARES. INFORMATION IS FOR CLASS I SHARES ONLY.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THE SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
TEMPLETON DEVELOPING MARKETS TRUST JUNE 30, 1995 SEMI ANNUAL REPORT
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL
STATEMENTS.
</LEGEND>
<SERIES>
<NUMBER> 002
<NAME> TEMPLETON DEVELOPING MARKETS TRUST
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 2104345846
<INVESTMENTS-AT-VALUE> 2151592033
<RECEIVABLES> 13714806
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1103784
<TOTAL-ASSETS> 2166410623
<PAYABLE-FOR-SECURITIES> 16776020
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9753806
<TOTAL-LIABILITIES> 26529826
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2049664705
<SHARES-COMMON-STOCK> 470715<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 27870400
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15099505
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 47246187
<NET-ASSETS> 2139880797
<DIVIDEND-INCOME> 28325972
<INTEREST-INCOME> 18516892
<OTHER-INCOME> 0
<EXPENSES-NET> 21066928
<NET-INVESTMENT-INCOME> 25775936
<REALIZED-GAINS-CURRENT> 18746760
<APPREC-INCREASE-CURRENT> (3299550)
<NET-CHANGE-FROM-OPS> 41223146
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (754003)
<DISTRIBUTIONS-OF-GAINS> (9802047)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 560522<F1>
<NUMBER-OF-SHARES-REDEEMED> (89807)<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 130726609
<ACCUMULATED-NII-PRIOR> 2848467
<ACCUMULATED-GAINS-PRIOR> 6154792
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 12363756
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 21066928
<AVERAGE-NET-ASSETS> 3859072<F1>
<PER-SHARE-NAV-BEGIN> 13.10<F1>
<PER-SHARE-NII> .04<F1>
<PER-SHARE-GAIN-APPREC> .44<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.58<F1>
<EXPENSE-RATIO> 2.73<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>EFFECTIVE MAY 1, 1995 THE FUND OFFERED TWO CLASSES OF SHARES: CLASS I
SHARES AND CLASS II SHARES. INFORMATION IS FOR CLASS II SHARES ONLY.
</FN>
</TABLE>
