<PAGE> PAGE 1
000 B000000 10/31/98
000 C000000 0000882381
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 MSDW DIVERSIFIED INCOME TRUST
001 B000000 811-6515
001 C000000 2123922550
002 A000000 TWO WORLD TRADE CENTER
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10048
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 MORGAN STANLEY DEAN WITTER ADVISORS INC.
008 B000001 A
008 C000001 801-42061
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10048
010 A00AA01 DELETE
011 A000001 MORGAN STANLEY DEAN WITTER DISTRIBUTORS INC.
011 B000001 8-45262
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10048
012 A000001 MORGAN STANLEY DEAN WITTER TRUST FSB
012 B000001 84-1785
012 C010001 JERSEY CITY
012 C020001 NJ
012 C030001 07311
013 A000001 PRICEWATERHOUSECOOPERS LLP
013 B010001 NEW YORK
<PAGE> PAGE 2
013 B020001 NY
013 B030001 10036
014 A000001 DEAN WITTER REYNOLDS INC.
014 B000001 8-14172
014 A000002 MORGAN STANLEY & CO. INCORPORATED
014 B000002 8-15869
014 A00AA01 DELETE
015 A000001 THE BANK OF NEW YORK
015 B000001 C
015 C010001 NEW YORK
015 C020001 NY
015 C030001 10286
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 121
019 C000000 MSDW-FUNDS
020 A000001 SMITH BARNEY SHEARSON INC.
020 B000001 13-1912900
020 C000001 14
020 A000002 NATWEST SECURITIES CORP.
020 B000002 13-3312778
020 C000002 8
020 A000003 BT ALEX BROWN INCORPORATED
020 B000003 13-3311934
020 C000003 2
020 A000004 MCMAHAN SECURITIES CO. L.P.
020 B000004 06-1229141
020 C000004 2
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 26
022 A000001 THE BANK OF NEW YORK
022 B000001 13-5160382
022 C000001 1521652
022 D000001 385967
022 A000002 BT ALEX BROWN INCORPORATED
022 B000002 13-3311934
022 C000002 897788
022 D000002 603000
022 A000003 GOLDMAN SACHS & CO.
022 B000003 13-5108880
022 C000003 1021982
022 D000003 26559
022 A000004 MERRILL LYNCH PIERCE FENNER & SMITH INC.
022 B000004 13-5674085
022 C000004 649560
<PAGE> PAGE 3
022 D000004 85306
022 A000005 BANCAMERICA ROBERTSON STEPHENS
022 B000005 95-4035346
022 C000005 562879
022 D000005 103499
022 A000006 AIG
022 B000006 N/A
022 C000006 322176
022 D000006 318146
022 A000007 WARBURG DILLION READ INC.
022 B000007 13-3873456
022 C000007 296241
022 D000007 186500
022 A000008 J.P. MORGAN SECURITIES INC.
022 B000008 13-3224016
022 C000008 291804
022 D000008 183165
022 A000009 AUTRANET, INC.
022 B000009 13-2961507
022 C000009 99365
022 D000009 189292
022 A000010 LEHMAN BROTHERS INC.
022 B000010 13-2518466
022 C000010 180298
022 D000010 33714
023 C000000 6921546
023 D000000 2859110
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
025 A00AA01 DELETE
025 D00AA01 0
025 A00AA02 DELETE
025 D00AA02 0
025 A00AA03 DELETE
025 D00AA03 0
025 A00AA04 DELETE
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 Y
026 C000000 N
<PAGE> PAGE 4
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 44832
028 A020000 2632
028 A030000 0
028 A040000 28623
028 B010000 64457
028 B020000 2708
028 B030000 0
028 B040000 56408
028 C010000 39204
028 C020000 2744
028 C030000 0
028 C040000 25942
028 D010000 54625
028 D020000 2832
028 D030000 0
028 D040000 36439
028 E010000 52704
028 E020000 2812
028 E030000 0
028 E040000 45509
028 F010000 51470
028 F020000 2877
028 F030000 0
028 F040000 43260
028 G010000 307292
028 G020000 16605
028 G030000 0
028 G040000 236181
028 H000000 4815
029 000000 Y
030 A000000 121
030 B000000 4.25
030 C000000 0.00
031 A000000 0
031 B000000 20
032 000000 0
033 000000 141
034 000000 Y
035 000000 1513
036 A000000 N
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
<PAGE> PAGE 5
040 000000 Y
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 8497
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.400
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 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 Y
054 H000000 Y
<PAGE> PAGE 6
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 1000
062 A000000 Y
062 B000000 0.0
062 C000000 3.1
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 8.8
062 N000000 33.0
062 O000000 0.0
062 P000000 46.5
062 Q000000 6.2
062 R000000 0.4
063 A000000 0
063 B000000 9.1
064 A000000 N
064 B000000 Y
065 000000 N
066 A000000 N
067 000000 N
068 A000000 N
068 B000000 N
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 N
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 N
<PAGE> PAGE 7
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 N
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 N
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 N
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 1487171
071 B000000 1267999
071 C000000 972182
071 D000000 130
072 A000000 12
072 B000000 87827
072 C000000 0
072 D000000 0
072 E000000 0
072 F000000 4031
072 G000000 0
072 H000000 0
072 I000000 652
072 J000000 228
072 K000000 0
072 L000000 87
072 M000000 19
072 N000000 195
072 O000000 1
072 P000000 0
072 Q000000 0
072 R000000 66
<PAGE> PAGE 8
072 S000000 11
072 T000000 8497
072 U000000 0
072 V000000 0
072 W000000 23
072 X000000 13810
072 Y000000 0
072 Z000000 74017
072AA000000 0
072BB000000 8649
072CC010000 0
072CC020000 43833
072DD010000 71888
072DD020000 784
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 158
074 B000000 0
074 C000000 32795
074 D000000 1029174
074 E000000 2155
074 F000000 2297
074 G000000 0
074 H000000 0
074 I000000 92
074 J000000 0
074 K000000 0
074 L000000 24517
074 M000000 484
074 N000000 1091672
074 O000000 26526
074 P000000 1152
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 8443
074 S000000 0
074 T000000 1055551
074 U010000 115381
074 U020000 1823
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 46018
074 Y000000 157836
075 A000000 0
075 B000000 1007874
<PAGE> PAGE 9
076 000000 0.00
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 ICI MUTUAL
080 B000000 GULF, VIGILANT, RELIANCE, CHUBB
080 C000000 110000
081 A000000 Y
081 B000000 120
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
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 BARRY FINK
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MORGAN STANLEY DEAN WITTER DIVERSIFIED INCOME TRUST
ANNUAL FDS 10-31-98
CLASS A
</LEGEND>
<CIK> 0000882381
<NAME> MORGAN STANLEY DEAN WITTER DIVERSIFIED INCOME TRUST-CLASS A
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 1,120,690,887
<INVESTMENTS-AT-VALUE> 1,066,512,804
<RECEIVABLES> 24,517,267
<ASSETS-OTHER> 642,427
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,091,672,498
<PAYABLE-FOR-SECURITIES> 26,526,089
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,595,731
<TOTAL-LIABILITIES> 36,121,820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,130,918,872
<SHARES-COMMON-STOCK> 1,679,965
<SHARES-COMMON-PRIOR> 521,437
<ACCUMULATED-NII-CURRENT> (1,230,297)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (19,300,307)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (54,837,590)
<NET-ASSETS> 15,130,255
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 87,827,194
<OTHER-INCOME> 0
<EXPENSES-NET> 13,810,288
<NET-INVESTMENT-INCOME> 74,016,906
<REALIZED-GAINS-CURRENT> (8,648,510)
<APPREC-INCREASE-CURRENT> (43,833,349)
<NET-CHANGE-FROM-OPS> 21,535,047
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (841,473)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (31,733)
<NUMBER-OF-SHARES-SOLD> 1,401,139
<NUMBER-OF-SHARES-REDEEMED> (270,021)
<SHARES-REINVESTED> 27,410
<NET-CHANGE-IN-ASSETS> 130,845,891
<ACCUMULATED-NII-PRIOR> 278,119
<ACCUMULATED-GAINS-PRIOR> (16,145,986)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,031,496
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,810,288
<AVERAGE-NET-ASSETS> 11,027,720
<PER-SHARE-NAV-BEGIN> 9.46
<PER-SHARE-NII> 0.74
<PER-SHARE-GAIN-APPREC> (0.46)
<PER-SHARE-DIVIDEND> (0.70)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.03)
<PER-SHARE-NAV-END> 9.01
<EXPENSE-RATIO> 0.77
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MORGAN STANLEY DEAN WITTER DIVERSIFIED INCOME TRUST
ANNUAL FDS 10-31-98
CLASS B
</LEGEND>
<CIK> 0000882381
<NAME> MORGAN STANLEY DEAN WITTER DIVERSIFIED INCOME TRUST-CLASS B
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 1,120,690,887
<INVESTMENTS-AT-VALUE> 1,066,512,804
<RECEIVABLES> 24,517,267
<ASSETS-OTHER> 642,427
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,091,672,498
<PAYABLE-FOR-SECURITIES> 26,526,089
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,595,731
<TOTAL-LIABILITIES> 36,121,820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,130,918,872
<SHARES-COMMON-STOCK> 113,700,790
<SHARES-COMMON-PRIOR> 96,807,771
<ACCUMULATED-NII-CURRENT> (1,230,297)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (19,300,307)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (54,837,590)
<NET-ASSETS> 1,024,021,371
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 87,827,194
<OTHER-INCOME> 0
<EXPENSES-NET> 13,810,288
<NET-INVESTMENT-INCOME> 74,016,906
<REALIZED-GAINS-CURRENT> (8,648,510)
<APPREC-INCREASE-CURRENT> (43,833,349)
<NET-CHANGE-FROM-OPS> 21,535,047
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (68,434,466)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (2,580,756)
<NUMBER-OF-SHARES-SOLD> 62,883,534
<NUMBER-OF-SHARES-REDEEMED> (49,343,181)
<SHARES-REINVESTED> 3,352,666
<NET-CHANGE-IN-ASSETS> 130,845,891
<ACCUMULATED-NII-PRIOR> 278,119
<ACCUMULATED-GAINS-PRIOR> (16,145,986)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,031,496
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,810,288
<AVERAGE-NET-ASSETS> 986,264,305
<PER-SHARE-NAV-BEGIN> 9.46
<PER-SHARE-NII> 0.68
<PER-SHARE-GAIN-APPREC> (0.46)
<PER-SHARE-DIVIDEND> (0.65)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.02)
<PER-SHARE-NAV-END> 9.01
<EXPENSE-RATIO> 1.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MORGAN STANLEY DEAN WITTER DIVERSIFIED INCOME TRUST
ANNUAL FDS 10-31-98
CLASS C
</LEGEND>
<CIK> 0000882381
<NAME> MORGAN STANLEY DEAN WITTER DIVERSIFIED INCOME TRUST-CLASS C
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 1,120,690,887
<INVESTMENTS-AT-VALUE> 1,066,512,804
<RECEIVABLES> 24,517,267
<ASSETS-OTHER> 642,427
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,091,672,498
<PAYABLE-FOR-SECURITIES> 26,526,089
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,595,731
<TOTAL-LIABILITIES> 36,121,820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,130,918,872
<SHARES-COMMON-STOCK> 1,740,750
<SHARES-COMMON-PRIOR> 399,124
<ACCUMULATED-NII-CURRENT> (1,230,297)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (19,300,307)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (54,837,590)
<NET-ASSETS> 15,659,283
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 87,827,194
<OTHER-INCOME> 0
<EXPENSES-NET> 13,810,288
<NET-INVESTMENT-INCOME> 74,016,906
<REALIZED-GAINS-CURRENT> (8,648,510)
<APPREC-INCREASE-CURRENT> (43,833,349)
<NET-CHANGE-FROM-OPS> 21,535,047
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (726,141)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (27,384)
<NUMBER-OF-SHARES-SOLD> 1,498,137
<NUMBER-OF-SHARES-REDEEMED> (202,794)
<SHARES-REINVESTED> 46,283
<NET-CHANGE-IN-ASSETS> 130,845,891
<ACCUMULATED-NII-PRIOR> 278,119
<ACCUMULATED-GAINS-PRIOR> (16,145,986)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,031,496
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,810,288
<AVERAGE-NET-ASSETS> 10,219,875
<PER-SHARE-NAV-BEGIN> 9.45
<PER-SHARE-NII> 0.68
<PER-SHARE-GAIN-APPREC> (0.46)
<PER-SHARE-DIVIDEND> (0.65)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.02)
<PER-SHARE-NAV-END> 9.00
<EXPENSE-RATIO> 1.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MORGAN STANLEY DEAN WITTER DIVERSIFIED INCOME TRUST
ANNUAL FDS 10-31-98
CLASS D
</LEGEND>
<CIK> 0000882381
<NAME> MORGAN STANLEY DEAN WITTER DIVERSIFIED INCOME TRUST-CLASS D
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> OCT-31-1998
<INVESTMENTS-AT-COST> 1,120,690,887
<INVESTMENTS-AT-VALUE> 1,066,512,804
<RECEIVABLES> 24,517,267
<ASSETS-OTHER> 642,427
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,091,672,498
<PAYABLE-FOR-SECURITIES> 26,526,089
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 9,595,731
<TOTAL-LIABILITIES> 36,121,820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,130,918,872
<SHARES-COMMON-STOCK> 82,178
<SHARES-COMMON-PRIOR> 10,517
<ACCUMULATED-NII-CURRENT> (1,230,297)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (19,300,307)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (54,837,590)
<NET-ASSETS> 739,769
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 87,827,194
<OTHER-INCOME> 0
<EXPENSES-NET> 13,810,288
<NET-INVESTMENT-INCOME> 74,016,906
<REALIZED-GAINS-CURRENT> (8,648,510)
<APPREC-INCREASE-CURRENT> (43,833,349)
<NET-CHANGE-FROM-OPS> 21,535,047
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (29,053)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (1,096)
<NUMBER-OF-SHARES-SOLD> 76,565
<NUMBER-OF-SHARES-REDEEMED> (6,535)
<SHARES-REINVESTED> 1,631
<NET-CHANGE-IN-ASSETS> 130,845,891
<ACCUMULATED-NII-PRIOR> 278,119
<ACCUMULATED-GAINS-PRIOR> (16,145,986)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,031,496
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,810,288
<AVERAGE-NET-ASSETS> 362,063
<PER-SHARE-NAV-BEGIN> 9.45
<PER-SHARE-NII> 0.76
<PER-SHARE-GAIN-APPREC> (0.46)
<PER-SHARE-DIVIDEND> (0.72)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.03)
<PER-SHARE-NAV-END> 9.00
<EXPENSE-RATIO> .53
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
