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<PAGE> PAGE 6
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 17
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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029 000400 Y
030 A000400 0
030 B000400 2.00
030 C000400 0.25
031 A000400 0
031 B000400 0
032 000400 0
033 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.600
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
<PAGE> PAGE 21
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 4.3
062 M000400 0.0
062 N000400 0.0
062 O000400 94.5
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 12.7
064 A000400 Y
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
<PAGE> PAGE 22
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 3086
071 B000400 3573
071 C000400 40069
071 D000400 8
072 A000400 6
072 B000400 1152
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 127
072 G000400 26
072 H000400 0
072 I000400 14
072 J000400 11
072 K000400 0
072 L000400 5
072 M000400 1
072 N000400 6
072 O000400 0
072 P000400 0
072 Q000400 27
072 R000400 6
072 S000400 1
072 T000400 0
<PAGE> PAGE 23
072 U000400 0
072 V000400 0
072 W000400 5
072 X000400 229
072 Y000400 76
072 Z000400 999
072AA000400 0
072BB000400 125
072CC010400 1274
072CC020400 0
072DD010400 1001
072DD020400 0
072EE000400 0
073 A010400 0.2400
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 40973
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 1871
074 J000400 20
074 K000400 0
074 L000400 634
074 M000400 2
074 N000400 43500
074 O000400 0
074 P000400 117
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 23
074 S000400 0
074 T000400 43360
074 U010400 4159
074 U020400 0
074 V010400 10.43
074 V020400 0.00
074 W000400 0.0000
074 X000400 38
074 Y000400 0
075 A000400 0
075 B000400 42152
076 000400 0.00
008 A000501 DEPOSIT GUARANTY NATIONAL BANK
<PAGE> PAGE 24
008 B000501 A
008 C000501 801-0000
008 D010501 JACKSON
008 D020501 MS
008 D030501 39225
008 D040501 3100
015 A000501 STATE STREET BANK AND TRUST COMPANY
015 B000501 C
015 C010501 BOSTON
015 C020501 MA
015 C030501 02105
015 E010501 X
015 A000502 NATIONSBANC CAPITAL MARKETS, INC.
015 B000502 S
015 C010502 RICHMOND
015 C020502 VA
015 C030502 23261
015 E010502 X
015 A000503 BANK OF NEW YORK
015 B000503 S
015 C010503 NEW YORK
015 C020503 NY
015 C030503 10006
015 E010503 X
015 A000504 CHEMICAL BANK & TRUST CO.
015 B000504 S
015 C010504 NEW YORK
015 C020504 NY
015 C030504 10006
015 E010504 X
015 A000505 PNC BANK, NA
015 B000505 S
015 C010505 PITTSBURGH
015 C020505 PA
015 C030505 15265
015 E010505 X
015 A000506 MORGAN GUARANTY BANK & TRUST CO.
015 B000506 S
015 C010506 NEW YORK
015 C020506 NY
015 C030506 10015
015 E010506 X
015 A000507 BANKERS TRUST CO.
015 B000507 S
015 C010507 NEW YORK
015 C020507 NY
015 C030507 10015
015 E010507 X
015 A000508 NATIONSBANK OF NORTH CAROLINA
015 B000508 S
015 C010508 CHARLOTTE
<PAGE> PAGE 25
015 C020508 NC
015 C030508 28255
015 E010508 X
024 000500 Y
025 A000501 EASTBRIDGE CAPITAL
025 C000501 D
025 D000501 50
025 A000502 FIRST UNION
025 C000502 D
025 D000502 50
025 A000503 SANWA
025 C000503 D
025 D000503 7
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 32921
028 A020500 8
028 A030500 0
028 A040500 32491
028 B010500 25515
028 B020500 8
028 B030500 0
028 B040500 25935
028 C010500 47370
028 C020500 8
028 C030500 0
028 C040500 36261
028 D010500 76059
028 D020500 9
028 D030500 0
028 D040500 24685
028 E010500 32477
028 E020500 10
028 E030500 0
028 E040500 22748
028 F010500 30817
028 F020500 10
028 F030500 0
028 F040500 35559
028 G010500 245159
028 G020500 53
028 G030500 0
028 G040500 177679
028 H000500 0
029 000500 N
030 A000500 0
030 B000500 0.00
030 C000500 0.00
<PAGE> PAGE 26
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.500
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
062 A000500 Y
062 B000500 53.8
062 C000500 0.0
062 D000500 46.3
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
<PAGE> PAGE 27
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 82
063 B000500 0.0
064 A000500 N
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
<PAGE> PAGE 28
070 R010500 N
070 R020500 N
071 A000500 0
071 B000500 0
071 C000500 0
071 D000500 0
072 A000500 6
072 B000500 5890
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 487
072 G000500 117
072 H000500 0
072 I000500 16
072 J000500 12
072 K000500 0
072 L000500 5
072 M000500 1
072 N000500 11
072 O000500 0
072 P000500 0
072 Q000500 19
072 R000500 6
072 S000500 1
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 6
072 X000500 681
072 Y000500 195
072 Z000500 5404
072AA000500 0
072BB000500 0
072CC010500 0
072CC020500 0
072DD010500 5404
072DD020500 0
072EE000500 0
073 A010500 0.0300
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 106528
074 C000500 123684
074 D000500 0
074 E000500 0
074 F000500 0
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<PAGE> PAGE 29
074 I000500 0
074 J000500 5
074 K000500 0
074 L000500 843
074 M000500 26
074 N000500 231086
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 1038
074 S000500 0
074 T000500 230048
074 U010500 230048
074 U020500 0
074 V010500 1.00
074 V020500 0.00
074 W000500 1.0000
074 X000500 45
074 Y000500 0
075 A000500 192738
075 B000500 0
076 000500 0.00
008 A000601 DEPOSIT GUARANTY NATIONAL BANK
008 B000601 A
008 C000601 801-0000
008 D010601 JACKSON
008 D020601 MS
008 D030601 39225
008 D040601 3100
008 A000602 COMMERCIAL NATIONAL BANK
008 B000602 S
008 C000602 801-0000
008 D010602 SHREVEPORT
008 D020602 LA
008 D030602 71152
015 A000601 STATE STREET BANK AND TRUST COMPANY
015 B000601 C
015 C010601 BOSTON
015 C020601 MA
015 C030601 02105
015 E010601 X
024 000600 Y
025 A000601 MORGAN KEEGAN
025 C000601 E
025 D000601 681
025 A000602 A.G. EDWARDS
025 C000602 E
025 D000602 1219
<PAGE> PAGE 30
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 1327
028 A020600 0
028 A030600 0
028 A040600 429
028 B010600 712
028 B020600 0
028 B030600 0
028 B040600 486
028 C010600 1436
028 C020600 0
028 C030600 0
028 C040600 362
028 D010600 2240
028 D020600 363
028 D030600 0
028 D040600 520
028 E010600 1148
028 E020600 0
028 E030600 0
028 E040600 448
028 F010600 1417
028 F020600 0
028 F030600 0
028 F040600 144
028 G010600 8280
028 G020600 363
028 G030600 0
028 G040600 2389
028 H000600 8238
029 000600 Y
030 A000600 20
030 B000600 3.50
030 C000600 0.25
031 A000600 0
031 B000600 0
032 000600 20
033 000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.950
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
<PAGE> PAGE 31
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 Y
053 B000600 Y
053 C000600 N
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 0.0
066 A000600 Y
066 B000600 N
<PAGE> PAGE 32
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 39054
071 B000600 39172
071 C000600 38520
071 D000600 101
072 A000600 6
072 B000600 165
<PAGE> PAGE 33
072 C000600 89
072 D000600 0
072 E000600 0
072 F000600 209
072 G000600 50
072 H000600 0
072 I000600 11
072 J000600 12
072 K000600 0
072 L000600 7
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072 N000600 10
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072 Z000600 18
072AA000600 5919
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072CC010600 4207
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072EE000600 481
073 A010600 0.0000
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074 B000600 5255
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074 F000600 45754
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074 J000600 1772
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074 M000600 2
074 N000600 52964
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<PAGE> PAGE 34
074 Q000600 0
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074 R030600 0
074 R040600 20
074 S000600 0
074 T000600 52579
074 U010600 3790
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074 V010600 13.87
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074 X000600 162
074 Y000600 0
075 A000600 0
075 B000600 43995
076 000600 0.00
SIGNATURE ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> DG Investors Series
DG Equity Fund
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Feb-28-1996
<PERIOD-END> Aug-31-1995
<INVESTMENTS-AT-COST> 291,594,305
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<TOTAL-LIABILITIES> 4,793,788
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 291,617,044
<SHARES-COMMON-STOCK> 27,694,850
<SHARES-COMMON-PRIOR> 22,777,372
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 59,197,668
<NET-ASSETS> 355,839,136
<DIVIDEND-INCOME> 3,027,155
<INTEREST-INCOME> 769,565
<OTHER-INCOME> 0
<EXPENSES-NET> 1,517,616
<NET-INVESTMENT-INCOME> 2,279,104
<REALIZED-GAINS-CURRENT> 4,546,151
<APPREC-INCREASE-CURRENT> 32,862,664
<NET-CHANGE-FROM-OPS> 39,687,919
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,331,539
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,918,577
<NUMBER-OF-SHARES-REDEEMED> 2,116,834
<SHARES-REINVESTED> 115,735
<NET-CHANGE-IN-ASSETS> 95,841,212
<ACCUMULATED-NII-PRIOR> 617,738
<ACCUMULATED-GAINS-PRIOR> (87,030)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,216,252
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,517,616
<AVERAGE-NET-ASSETS> 318,733,040
<PER-SHARE-NAV-BEGIN> 11.410
<PER-SHARE-NII> 0.090
<PER-SHARE-GAIN-APPREC> 1.440
<PER-SHARE-DIVIDEND> 0.090
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 12.850
<EXPENSE-RATIO> 0.94
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 02
<NAME> DG Investors Series
DG Government Income Fund
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Feb-28-1996
<PERIOD-END> Aug-31-1995
<INVESTMENTS-AT-COST> 104,974,586
<INVESTMENTS-AT-VALUE> 106,582,134
<RECEIVABLES> 1,753,310
<ASSETS-OTHER> 14,878
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 108,350,322
<PAYABLE-FOR-SECURITIES> 2,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33,073
<TOTAL-LIABILITIES> 2,033,073
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 105,517,730
<SHARES-COMMON-STOCK> 10,805,923
<SHARES-COMMON-PRIOR> 17,772,717
<ACCUMULATED-NII-CURRENT> 243,258
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,051,287)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,607,548
<NET-ASSETS> 106,317,249
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,313,738
<OTHER-INCOME> 0
<EXPENSES-NET> 477,721
<NET-INVESTMENT-INCOME> 3,836,017
<REALIZED-GAINS-CURRENT> 1,311,871
<APPREC-INCREASE-CURRENT> 4,471,873
<NET-CHANGE-FROM-OPS> 9,619,761
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,765,835
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,275,017
<NUMBER-OF-SHARES-REDEEMED> 9,361,142
<SHARES-REINVESTED> 119,331
<NET-CHANGE-IN-ASSETS> (61,996,236)
<ACCUMULATED-NII-PRIOR> 173,076
<ACCUMULATED-GAINS-PRIOR> (2,363,158)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 379,464
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 540,965
<AVERAGE-NET-ASSETS> 130,942,431
<PER-SHARE-NAV-BEGIN> 9.470
<PER-SHARE-NII> 0.300
<PER-SHARE-GAIN-APPREC> 0.360
<PER-SHARE-DIVIDEND> 0.290
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.840
<EXPENSE-RATIO> 0.75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 03
<NAME> DG Investors Series
DG Limited Term Government Income Fund
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Feb-28-1996
<PERIOD-END> Aug-31-1995
<INVESTMENTS-AT-COST> 95,447,110
<INVESTMENTS-AT-VALUE> 94,998,103
<RECEIVABLES> 1,464,931
<ASSETS-OTHER> 12,036
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 96,475,070
<PAYABLE-FOR-SECURITIES> 2,000,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 51,900
<TOTAL-LIABILITIES> 2,051,900
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 97,117,639
<SHARES-COMMON-STOCK> 9,635,941
<SHARES-COMMON-PRIOR> 9,975,150
<ACCUMULATED-NII-CURRENT> 164,345
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,409,807)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (449,007)
<NET-ASSETS> 94,423,170
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,974,436
<OTHER-INCOME> 0
<EXPENSES-NET> 332,556
<NET-INVESTMENT-INCOME> 2,641,880
<REALIZED-GAINS-CURRENT> (566,263)
<APPREC-INCREASE-CURRENT> 2,046,678
<NET-CHANGE-FROM-OPS> 4,122,295
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,571,471
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<NET-CHANGE-IN-ASSETS> (1,793,264)
<ACCUMULATED-NII-PRIOR> 93,936
<ACCUMULATED-GAINS-PRIOR> (1,843,544)
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 04
<NAME> DG Investors Series
DG Municipal Income Fund
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Feb-28-1996
<PERIOD-END> Aug-31-1995
<INVESTMENTS-AT-COST> 42,057,126
<INVESTMENTS-AT-VALUE> 42,843,717
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<NET-INVESTMENT-INCOME> 999,224
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<DISTRIBUTIONS-OTHER> 0
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<SHARES-REINVESTED> 1,096
<NET-CHANGE-IN-ASSETS> 1,818,450
<ACCUMULATED-NII-PRIOR> 25,860
<ACCUMULATED-GAINS-PRIOR> 11,477
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 10.150
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 05
<NAME> DG Investors Series
DG U.S. Government Money Market Fund
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Feb-28-1996
<PERIOD-END> Aug-31-1995
<INVESTMENTS-AT-COST> 230,212,369
<INVESTMENTS-AT-VALUE> 230,212,369
<RECEIVABLES> 847,977
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<TOTAL-ASSETS> 231,085,716
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,038,494
<TOTAL-LIABILITIES> 1,038,494
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 230,047,222
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<SHARES-COMMON-PRIOR> 162,514,706
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 230,047,222
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,890,467
<OTHER-INCOME> 0
<EXPENSES-NET> 486,090
<NET-INVESTMENT-INCOME> 5,404,377
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<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5,404,377
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<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 245,158,747
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<NET-CHANGE-IN-ASSETS> 67,532,516
<ACCUMULATED-NII-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.030
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<PER-SHARE-NAV-END> 1.000
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 06
<NAME> DG Investors Series
DG Opportunity Fund
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Feb-28-1996
<PERIOD-END> Aug-31-1995
<INVESTMENTS-AT-COST> 46,196,587
<INVESTMENTS-AT-VALUE> 51,138,488
<RECEIVABLES> 1,823,749
<ASSETS-OTHER> 2,034
<OTHER-ITEMS-ASSETS> 0
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<PAYABLE-FOR-SECURITIES> 365,250
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19,892
<TOTAL-LIABILITIES> 385,142
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 41,727,900
<SHARES-COMMON-STOCK> 3,789,995
<SHARES-COMMON-PRIOR> 3,287,942
<ACCUMULATED-NII-CURRENT> 18,218
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,891,110
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,941,901
<NET-ASSETS> 52,579,129
<DIVIDEND-INCOME> 88,674
<INTEREST-INCOME> 165,472
<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 18,120
<REALIZED-GAINS-CURRENT> 5,918,569
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<DISTRIBUTIONS-OTHER> 0
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</TABLE>
