PAYDEN & RYGEL INVESTMENT GROUP
NSAR-A, 1999-06-28
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<PAGE>      PAGE  1
000 A000000 04/30/1999
000 C000000 0000885709
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 PAYDEN & RYGEL INVESTMENT GROUP
001 B000000 811-6625
001 C000000 2136251900
002 A000000 333 SOUTH GRAND AVENUE
002 B000000 LOS ANGELES
002 C000000 CA
002 D010000 90071
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000 22
007 C010100  1
007 C020100 PAYDEN & RYGEL GLOBAL FIXED INCOME FUND
007 C030100 N
007 C010200  2
007 C020200 PAYDEN & RYGEL TAX EXEMPT BOND FUND
007 C030200 N
007 C010300  3
007 C020300 PAYDEN & RYGEL SHORT BOND FUND
007 C030300 N
007 C010400  4
007 C020400 PAYDEN & RYGEL INTERMEDIATE BOND FUND
007 C030400 Y
007 C010500  5
007 C020500 PAYDEN & RYGEL INVESTMENT QUALITY BOND FUND
007 C030500 N
007 C010600  6
007 C020600 PAYDEN & RYGEL LIMITED MATURITY FUND
007 C030600 N
007 C010700  7
007 C020700 PAYDEN & RYGEL SHORT DURATION TAX EXEMPT FUND
007 C030700 N
007 C010800  8
007 C010900  9
007 C020900 PAYDEN & RYGEL U.S. GOVERNMENT FUND
007 C030900 N
007 C011000 10
007 C011100 11
007 C021100 PAYDEN & RYGEL MARKET RETURN FUND
007 C031100 N
<PAGE>      PAGE  2
007 C011200 12
007 C021200 PAYDEN & RYGEL GLOBAL SHORT BOND FUND
007 C031200 N
007 C011300 13
007 C021300 PAYDEN & RYGEL GROWTH & INCOME FUND
007 C031300 N
007 C011400 14
007 C021400 PAYDEN & RYGEL TOTAL RETURN FUND
007 C031400 N
007 C011500 15
007 C021500 PAYDEN & RYGEL GLOBAL BALANCED FUND
007 C031500 N
007 C011600 16
007 C021600 PAYDEN & RYGEL INTERNATIONAL EQUITY FUND
007 C031600 N
007 C011700 17
007 C021700 PAYDEN & RYGEL EUROPEAN GROWTH & INCOME FUND
007 C031700 N
007 C011800 18
007 C021800 BUNKER HILL MONEY MARKET FUND
007 C031800 N
007 C011900 19
007 C021900 PAYDEN & RYGEL SMALL CAP VALUE STOCK FUND
007 C031900 N
007 C012000 20
007 C022000 PAYDEN & RYGEL SMALL CAP GROWTH STOCK FUND
007 C032000 N
007 C012100 21
007 C022100 PAYDEN & RYGEL HIGH INCOME FUND
007 C032100 N
007 C012200 22
007 C022200 PAYDEN & RYGEL CALIFORNIA MUNICIPAL INCOME FD
007 C032200 N
007 C012300 23
007 C022300 PAYDEN & RYGEL EURODIRECT FUND
007 C032300 N
007 C012400 24
007 C022400 PAYDEN & RYGEL EMERGING MARKETS BOND FUND
007 C032400 N
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
<PAGE>      PAGE  3
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007 C013800 38
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007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
010 A00AA01 TREASURY PLUS, INC.
010 C01AA01 LOS ANGELES
010 C02AA01 CA
010 C03AA01 90071
011 A00AA01 PAYDEN & RYGEL DISTRIBUTORS
011 B00AA01 8-44622
011 C01AA01 LOS ANGELES
011 C02AA01 CA
011 C03AA01 90071
012 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
012 B00AA01 84-5634
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 DELOITTE & TOUCHE LLP
013 B01AA01 DAYTON
013 B02AA01 OH
013 B03AA01 45402
014 A00AA01 PAYDEN & RYGEL DISTRIBUTORS
014 B00AA01 8-44622
015 A00AA01 BOSTON SAFE DEPOSIT AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02109
015 E01AA01 X
018  00AA00 Y
019 A00AA00 N
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020 C000001     80
020 A000002 GOLDMAN SACHS
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020 A000003 MORGAN STANLEY
020 C000003     15
020 A000004 DONALDSON, LUFKIN, JENRETTE
020 C000004      7
<PAGE>      PAGE  4
020 A000005 STEPHANS
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020 A000006 CIBC-OPPENHEIMEIR
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022 A000003 HONG KONG AND SHANGHAI BANKING
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022 D000003    118397
022 A000004 MORGAN STANLEY
022 C000004    281420
022 D000004    251371
022 A000005 DONALDSON LUFKIN, JENRETTE
022 C000005    242752
022 D000005    272547
022 A000006 MERRILL LYNCH
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022 D000006    200205
022 A000007 GOLDMAN SACHS
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022 D000007    166374
022 A000008 J.P. MORGAN
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022 A000009 DEUTSCHE BANK
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<PAGE>      PAGE  5
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077 A000000 N
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<PAGE>      PAGE  6
080 A00AA00 GULF INSURANCE COMPANY
080 B00AA00 NATIONAL UNION FIRE INSURANCE COMPANY
080 C00AA00    40000
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008 A000101 PAYDEN & RYGEL
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008 D010101 LOS ANGELES
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<PAGE>      PAGE  7
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051  000100 N
052  000100 N
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055 A000100 N
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056  000100 Y
057  000100 N
058 A000100 N
059  000100 Y
060 A000100 N
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<PAGE>      PAGE  8
062 C000100   0.0
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062 M000100  20.4
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062 O000100   0.0
062 P000100   3.6
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063 B000100  8.6
064 A000100 N
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067  000100 N
068 A000100 N
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070 A020100 N
070 B010100 N
070 B020100 N
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070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 Y
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 Y
070 M010100 Y
070 M020100 Y
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<PAGE>      PAGE  9
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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050  000200 N
051  000200 N
052  000200 N
053 A000200 N
055 A000200 N
055 B000200 N
056  000200 Y
057  000200 N
<PAGE>      PAGE  12
058 A000200 N
059  000200 Y
060 A000200 N
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064 B000200 N
066 A000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 N
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 Y
070 F010200 N
070 F020200 N
070 G010200 Y
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070 H010200 N
070 H020200 N
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070 I020200 N
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<PAGE>      PAGE  13
070 J020200 N
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
050  000300 N
051  000300 N
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056  000300 Y
057  000300 N
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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<PAGE>      PAGE  20
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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<PAGE>      PAGE  23
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<PAGE>      PAGE  24
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<PAGE>      PAGE  25
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
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<PAGE>      PAGE  28
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<PAGE>      PAGE  29
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<PAGE>      PAGE  30
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<PAGE>      PAGE  31
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<PAGE>      PAGE  32
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<PAGE>      PAGE  33
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<PAGE>      PAGE  34
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<PAGE>      PAGE  35
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<PAGE>      PAGE  36
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<PAGE>      PAGE  37
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062 P000900   7.8
062 Q000900  22.4
062 R000900   0.0
063 A000900   0
063 B000900  9.5
064 A000900 N
066 A000900 N
067  000900 N
068 A000900 N
068 B000900 N
069  000900 N
070 A010900 Y
070 A020900 N
070 B010900 N
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 Y
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
<PAGE>      PAGE  38
070 O010900 N
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900     43980
071 B000900     31149
071 C000900     70309
071 D000900   44
072 A000900  6
072 B000900     2064
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072 D000900        0
072 E000900        0
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072 G000900       22
072 H000900        0
072 I000900        9
072 J000900        6
072 K000900        0
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072 M000900        3
072 N000900        2
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072 P000900        0
072 Q000900       13
072 R000900       10
072 S000900        1
072 T000900        0
072 U000900        0
072 V000900        0
072 W000900      -30
072 X000900      144
072 Y000900        0
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072AA000900        0
072BB000900      110
072CC010900        0
072CC020900     1250
072DD010900     1918
072DD020900        0
072EE000900      378
073 A010900   0.2813
073 A020900   0.0000
073 B000900   0.0580
073 C000900   0.0000
074 A000900     1954
074 B000900        0
<PAGE>      PAGE  39
074 C000900     4977
074 D000900    85376
074 E000900        0
074 F000900        0
074 G000900        0
074 H000900        0
074 I000900        0
074 J000900        0
074 K000900        0
074 L000900        0
074 M000900    16124
074 N000900   108431
074 O000900    32256
074 P000900      322
074 Q000900        0
074 R010900        0
074 R020900        0
074 R030900        0
074 R040900       23
074 S000900        0
074 T000900    75830
074 U010900     7127
074 U020900        0
074 V010900    10.64
074 V020900     0.00
074 W000900   0.0000
074 X000900       55
074 Y000900      581
075 A000900        0
075 B000900    72924
076  000900     0.00
008 A001101 PAYDEN & RYGEL
008 B001101 A
008 C001101 801-19762
008 D011101 LOS ANGELES
008 D021101 CA
008 D031101 90071
028 A011100      3564
028 A021100       197
028 A031100         0
028 A041100       466
028 B011100      1751
028 B021100      2666
028 B031100         0
028 B041100      2914
028 C011100      3175
028 C021100       162
028 C031100         0
028 C041100       100
028 D011100       427
028 D021100       180
<PAGE>      PAGE  40
028 D031100         0
028 D041100      8270
028 E011100      9751
028 E021100       233
028 E031100         0
028 E041100       106
028 F011100      3948
028 F021100       247
028 F031100         0
028 F041100      1580
028 G011100     22616
028 G021100      3685
028 G031100         0
028 G041100     13436
028 H001100         0
045  001100 Y
046  001100 N
047  001100 Y
048  001100  0.000
048 A011100  1000000
048 A021100 0.280
048 B011100        0
048 B021100 0.000
048 C011100        0
048 C021100 0.000
048 D011100        0
048 D021100 0.000
048 E011100        0
048 E021100 0.000
048 F011100        0
048 F021100 0.000
048 G011100        0
048 G021100 0.000
048 H011100        0
048 H021100 0.000
048 I011100        0
048 I021100 0.000
048 J011100        0
048 J021100 0.000
048 K011100  1000000
048 K021100 0.250
049  001100 N
050  001100 N
051  001100 N
052  001100 N
053 A001100 N
055 A001100 Y
055 B001100 N
056  001100 Y
057  001100 N
058 A001100 N
<PAGE>      PAGE  41
059  001100 Y
060 A001100 N
060 B001100 N
061  001100     2000
062 A001100 Y
062 B001100   0.0
062 C001100   5.7
062 D001100   0.0
062 E001100   0.0
062 F001100   0.0
062 G001100   0.0
062 H001100   0.0
062 I001100   0.0
062 J001100   0.0
062 K001100   0.0
062 L001100   9.8
062 M001100   6.6
062 N001100  11.2
062 O001100   0.0
062 P001100  28.7
062 Q001100  35.8
062 R001100   0.0
063 A001100   0
063 B001100  8.8
064 A001100 N
066 A001100 N
067  001100 N
068 A001100 N
068 B001100 N
069  001100 N
070 A011100 Y
070 A021100 N
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 Y
070 F011100 Y
070 F021100 Y
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 Y
070 I021100 N
070 J011100 Y
070 J021100 Y
070 K011100 Y
<PAGE>      PAGE  42
070 K021100 Y
070 L011100 Y
070 L021100 Y
070 M011100 N
070 M021100 N
070 N011100 N
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100     41246
071 B001100     18147
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072 A001100  6
072 B001100     1490
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072 D001100        0
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072 G001100       16
072 H001100        0
072 I001100       10
072 J001100        7
072 K001100        0
072 L001100        5
072 M001100        2
072 N001100        7
072 O001100        0
072 P001100        0
072 Q001100       10
072 R001100        9
072 S001100        1
072 T001100        0
072 U001100        1
072 V001100        0
072 W001100      -24
072 X001100      116
072 Y001100        0
072 Z001100     1374
072AA001100    10212
072BB001100        0
072CC011100        0
072CC021100     1477
072DD011100     1368
072DD021100        0
<PAGE>      PAGE  43
072EE001100     2497
073 A011100   0.3685
073 A021100   0.0000
073 B001100   0.7312
073 C001100   0.0000
074 A001100     1594
074 B001100        0
074 C001100     9485
074 D001100    50242
074 E001100        0
074 F001100     1265
074 G001100        0
074 H001100        0
074 I001100        0
074 J001100        0
074 K001100        0
074 L001100        0
074 M001100      746
074 N001100    63332
074 O001100      508
074 P001100      303
074 Q001100        0
074 R011100        0
074 R021100        0
074 R031100        0
074 R041100       22
074 S001100        0
074 T001100    62499
074 U011100     4161
074 U021100        0
074 V011100    15.02
074 V021100     0.00
074 W001100   0.0000
074 X001100      271
074 Y001100     4000
075 A001100        0
075 B001100    52282
076  001100     0.00
008 A001201 PAYDEN & RYGEL
008 B001201 A
008 C001201 801-19762
008 D011201 LOS ANGELES
008 D021201 CA
008 D031201 90071
028 A011200      1009
028 A021200      2047
028 A031200         0
028 A041200      1501
028 B011200      1076
028 B021200      8393
028 B031200         0
<PAGE>      PAGE  44
028 B041200     19546
028 C011200         3
028 C021200       668
028 C031200         0
028 C041200       111
028 D011200      3848
028 D021200       254
028 D031200         0
028 D041200      1277
028 E011200      4430
028 E021200      1180
028 E031200         0
028 E041200     12026
028 F011200     23808
028 F021200      1681
028 F031200         0
028 F041200       465
028 G011200     34174
028 G021200     14223
028 G031200         0
028 G041200     34926
028 H001200         0
045  001200 Y
046  001200 N
047  001200 Y
048  001200  0.000
048 A011200  2000000
048 A021200 0.300
048 B011200        0
048 B021200 0.000
048 C011200        0
048 C021200 0.000
048 D011200        0
048 D021200 0.000
048 E011200        0
048 E021200 0.000
048 F011200        0
048 F021200 0.000
048 G011200        0
048 G021200 0.000
048 H011200        0
048 H021200 0.000
048 I011200        0
048 I021200 0.000
048 J011200        0
048 J021200 0.000
048 K011200  2000000
048 K021200 0.250
049  001200 N
050  001200 N
051  001200 N
<PAGE>      PAGE  45
052  001200 N
053 A001200 N
055 A001200 N
055 B001200 N
056  001200 Y
057  001200 N
058 A001200 N
059  001200 Y
060 A001200 N
060 B001200 N
061  001200   100000
062 A001200 Y
062 B001200   0.0
062 C001200   2.7
062 D001200   0.0
062 E001200   0.0
062 F001200   0.0
062 G001200   0.0
062 H001200   0.0
062 I001200   0.0
062 J001200   0.0
062 K001200   0.0
062 L001200   2.1
062 M001200   7.4
062 N001200   9.3
062 O001200   0.0
062 P001200   0.0
062 Q001200  78.2
062 R001200   0.0
063 A001200   0
063 B001200  2.6
064 A001200 N
066 A001200 N
067  001200 N
068 A001200 N
068 B001200 Y
069  001200 N
070 A011200 Y
070 A021200 N
070 B011200 N
070 B021200 N
070 C011200 Y
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 Y
070 E021200 Y
070 F011200 N
070 F021200 N
070 G011200 Y
070 G021200 N
<PAGE>      PAGE  46
070 H011200 N
070 H021200 N
070 I011200 Y
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 Y
070 K021200 Y
070 L011200 Y
070 L021200 Y
070 M011200 Y
070 M021200 Y
070 N011200 N
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 N
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200    273014
071 B001200    262593
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072 A001200  6
072 B001200     5297
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072 D001200        0
072 E001200        0
072 F001200      359
072 G001200       72
072 H001200        0
072 I001200       17
072 J001200       49
072 K001200        0
072 L001200       23
072 M001200        8
072 N001200      -10
072 O001200        0
072 P001200        0
072 Q001200       36
072 R001200       15
072 S001200        3
072 T001200        0
072 U001200        0
072 V001200        0
072 W001200       25
072 X001200      597
072 Y001200        0
<PAGE>      PAGE  47
072 Z001200     4700
072AA001200     4956
072BB001200        0
072CC011200        0
072CC021200     4187
072DD011200    15398
072DD021200        0
072EE001200        0
073 A011200   0.6517
073 A021200   0.0000
073 B001200   0.0000
073 C001200   0.0000
074 A001200     1070
074 B001200        0
074 C001200     6854
074 D001200   242035
074 E001200        0
074 F001200        0
074 G001200        0
074 H001200        0
074 I001200        0
074 J001200        0
074 K001200        0
074 L001200        0
074 M001200     7426
074 N001200   257385
074 O001200     1753
074 P001200      410
074 Q001200        0
074 R011200        0
074 R021200        0
074 R031200        0
074 R041200       69
074 S001200        0
074 T001200   255153
074 U011200    25810
074 U021200        0
074 V011200     9.89
074 V021200     0.00
074 W001200   0.0000
074 X001200       38
074 Y001200        0
075 A001200        0
075 B001200   242624
076  001200     0.00
008 A001301 PAYDEN & RYGEL
008 B001301 A
008 C001301 801-19762
008 D011301 LOS ANGELES
008 D021301 CA
008 D031301 90071
<PAGE>      PAGE  48
028 A011300      3536
028 A021300         0
028 A031300         0
028 A041300      2922
028 B011300      4554
028 B021300      6363
028 B031300         0
028 B041300      7511
028 C011300     10539
028 C021300         1
028 C031300         0
028 C041300      6906
028 D011300      4369
028 D021300         0
028 D031300         0
028 D041300      8819
028 E011300      3776
028 E021300       668
028 E031300         0
028 E041300     10017
028 F011300      8278
028 F021300         0
028 F031300         0
028 F041300      8532
028 G011300     35052
028 G021300      7032
028 G031300         0
028 G041300     44707
028 H001300         0
045  001300 Y
046  001300 N
047  001300 Y
048  001300  0.000
048 A011300  2000000
048 A021300 0.500
048 B011300        0
048 B021300 0.000
048 C011300        0
048 C021300 0.000
048 D011300        0
048 D021300 0.000
048 E011300        0
048 E021300 0.000
048 F011300        0
048 F021300 0.000
048 G011300        0
048 G021300 0.000
048 H011300        0
048 H021300 0.000
048 I011300        0
048 I021300 0.000
<PAGE>      PAGE  49
048 J011300        0
048 J021300 0.000
048 K011300  2000000
048 K021300 0.300
049  001300 N
050  001300 N
051  001300 N
052  001300 N
053 A001300 N
055 A001300 N
055 B001300 N
056  001300 Y
057  001300 N
058 A001300 N
059  001300 Y
060 A001300 N
060 B001300 N
061  001300     2000
062 A001300 N
062 B001300   0.0
062 C001300   0.0
062 D001300   0.0
062 E001300   0.0
062 F001300   0.0
062 G001300   0.0
062 H001300   0.0
062 I001300   0.0
062 J001300   0.0
062 K001300   0.0
062 L001300   0.0
062 M001300   0.0
062 N001300   0.0
062 O001300   0.0
062 P001300   0.0
062 Q001300   0.0
062 R001300   0.0
063 A001300   0
063 B001300  0.0
066 A001300 Y
066 E001300 Y
067  001300 N
068 A001300 N
068 B001300 N
069  001300 N
070 A011300 Y
070 A021300 N
070 B011300 Y
070 B021300 N
070 C011300 Y
070 C021300 N
070 D011300 Y
<PAGE>      PAGE  50
070 D021300 N
070 E011300 N
070 E021300 N
070 F011300 Y
070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 Y
070 H021300 N
070 I011300 Y
070 I021300 N
070 J011300 Y
070 J021300 N
070 K011300 Y
070 K021300 Y
070 L011300 N
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 N
070 N021300 N
070 O011300 Y
070 O021300 N
070 P011300 N
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300     13894
071 B001300     11642
071 C001300    256270
071 D001300    5
072 A001300  6
072 B001300      222
072 C001300     2455
072 D001300        0
072 E001300        0
072 F001300      665
072 G001300       80
072 H001300        0
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072 J001300       12
072 K001300        0
072 L001300       11
072 M001300        2
072 N001300        3
072 O001300        0
072 P001300        0
072 Q001300       43
072 R001300       13
<PAGE>      PAGE  51
072 S001300        4
072 T001300        0
072 U001300        2
072 V001300        0
072 W001300       58
072 X001300      998
072 Y001300        0
072 Z001300     1679
072AA001300     3987
072BB001300        0
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072CC021300        0
072DD011300     1660
072DD021300        0
072EE001300     5742
073 A011300   0.0954
073 A021300   0.0000
073 B001300   0.3341
073 C001300   0.0000
074 A001300     3481
074 B001300        0
074 C001300        0
074 D001300        0
074 E001300        0
074 F001300   284266
074 G001300        0
074 H001300        0
074 I001300        0
074 J001300        0
074 K001300        0
074 L001300        0
074 M001300      445
074 N001300   288192
074 O001300        0
074 P001300      303
074 Q001300        0
074 R011300        0
074 R021300        0
074 R031300        0
074 R041300       64
074 S001300        0
074 T001300   287825
074 U011300    17167
074 U021300        0
074 V011300    16.77
074 V021300     0.00
074 W001300   0.0000
074 X001300     7206
074 Y001300        0
075 A001300        0
075 B001300   266628
<PAGE>      PAGE  52
076  001300     0.00
008 A001401 PAYDEN & RYGEL
008 B001401 A
008 C001401 801-19762
008 D011401 LOS ANGELES
008 D021401 CA
008 D031401 90071
028 A011400         2
028 A021400       385
028 A031400         0
028 A041400       138
028 B011400      4227
028 B021400      2428
028 B031400         0
028 B041400      2166
028 C011400         1
028 C021400       671
028 C031400         0
028 C041400       332
028 D011400     19929
028 D021400       688
028 D031400         0
028 D041400      8919
028 E011400      8505
028 E021400       951
028 E031400         0
028 E041400     14400
028 F011400      4088
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028 F041400      5876
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028 G021400      5667
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028 H001400         0
045  001400 Y
046  001400 N
047  001400 Y
048  001400  0.000
048 A011400  1000000
048 A021400 0.280
048 B011400        0
048 B021400 0.000
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048 C021400 0.000
048 D011400        0
048 D021400 0.000
048 E011400        0
048 E021400 0.000
048 F011400        0
<PAGE>      PAGE  53
048 F021400 0.000
048 G011400        0
048 G021400 0.000
048 H011400        0
048 H021400 0.000
048 I011400        0
048 I021400 0.000
048 J011400        0
048 J021400 0.000
048 K011400  1000000
048 K021400 0.250
049  001400 N
050  001400 N
051  001400 N
052  001400 N
053 A001400 N
055 A001400 Y
055 B001400 N
056  001400 Y
057  001400 N
058 A001400 N
059  001400 Y
060 A001400 N
060 B001400 N
061  001400   100000
062 A001400 Y
062 B001400   9.3
062 C001400   0.0
062 D001400   0.0
062 E001400   0.0
062 F001400   0.0
062 G001400   0.0
062 H001400   0.0
062 I001400   0.0
062 J001400   0.0
062 K001400   0.0
062 L001400  27.2
062 M001400  16.8
062 N001400   4.2
062 O001400   0.0
062 P001400  18.8
062 Q001400  37.7
062 R001400   0.0
063 A001400   0
063 B001400 10.1
064 A001400 N
066 A001400 N
067  001400 N
068 A001400 N
068 B001400 N
069  001400 N
<PAGE>      PAGE  54
070 A011400 Y
070 A021400 N
070 B011400 Y
070 B021400 N
070 C011400 Y
070 C021400 Y
070 D011400 Y
070 D021400 N
070 E011400 Y
070 E021400 Y
070 F011400 Y
070 F021400 N
070 G011400 Y
070 G021400 N
070 H011400 Y
070 H021400 N
070 I011400 Y
070 I021400 N
070 J011400 Y
070 J021400 Y
070 K011400 Y
070 K021400 Y
070 L011400 Y
070 L021400 Y
070 M011400 Y
070 M021400 Y
070 N011400 N
070 N021400 N
070 O011400 Y
070 O021400 N
070 P011400 N
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
071 A001400     24409
071 B001400     13100
071 C001400    135678
071 D001400   10
072 A001400  6
072 B001400     5813
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072 D001400        0
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072 F001400      254
072 G001400       54
072 H001400        0
072 I001400       14
072 J001400       11
072 K001400        0
<PAGE>      PAGE  55
072 L001400       19
072 M001400        5
072 N001400        8
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072 P001400        0
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072 R001400       11
072 S001400        3
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072 U001400        1
072 V001400        0
072 W001400       43
072 X001400      451
072 Y001400        0
072 Z001400     5363
072AA001400      206
072BB001400        0
072CC011400        0
072CC021400      492
072DD011400     5080
072DD021400        0
072EE001400      811
073 A011400   0.2880
073 A021400   0.0000
073 B001400   0.0478
073 C001400   0.0000
074 A001400      907
074 B001400        0
074 C001400    65711
074 D001400   140870
074 E001400     2165
074 F001400        0
074 G001400        0
074 H001400        0
074 I001400        0
074 J001400        0
074 K001400        0
074 L001400        0
074 M001400     3165
074 N001400   212818
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<PAGE>      PAGE  56
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<PAGE>      PAGE  57
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<PAGE>      PAGE  59
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<PAGE>      PAGE  60
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<PAGE>      PAGE  62
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<PAGE>      PAGE  64
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<PAGE>      PAGE  72
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<PAGE>      PAGE  74
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<PAGE>      PAGE  75
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<PAGE>      PAGE  76
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<PAGE>      PAGE  77
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<PAGE>      PAGE  78
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<PAGE>      PAGE  79
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<PAGE>      PAGE  80
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<PAGE>      PAGE  81
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<PAGE>      PAGE  82
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<PAGE>      PAGE  83
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<PAGE>      PAGE  84
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<PAGE>      PAGE  85
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<PAGE>      PAGE  86
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<PAGE>      PAGE  87
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<PAGE>      PAGE  88
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<PAGE>      PAGE  89
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<PAGE>      PAGE  90
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<PAGE>      PAGE  91
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<PAGE>      PAGE  92
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<PAGE>      PAGE  93
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SIGNATURE   BRADLEY F. HERSH
TITLE       VICE PRESIDENT



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<CIK> 0000885709
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<CIK> 0000885709
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</TABLE>

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<NAME> PAYDEN & RYGEL INVESTMENT GROUP
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</TABLE>

<TABLE> <S> <C>

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<CIK> 0000885709
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 1
   <NAME> PAYDEN & RYGEL GLOBAL FIXED INCOME FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                           518799
<INVESTMENTS-AT-VALUE>                          516860
<RECEIVABLES>                                    53010
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              3782
<TOTAL-ASSETS>                                  573652
<PAYABLE-FOR-SECURITIES>                         35478
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          311
<TOTAL-LIABILITIES>                              35789
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        530833
<SHARES-COMMON-STOCK>                            51934
<SHARES-COMMON-PRIOR>                            48100
<ACCUMULATED-NII-CURRENT>                       (9624)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          12595
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          4059
<NET-ASSETS>                                    537863
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                12988
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    1327
<NET-INVESTMENT-INCOME>                          11661
<REALIZED-GAINS-CURRENT>                          8632
<APPREC-INCREASE-CURRENT>                       (8426)
<NET-CHANGE-FROM-OPS>                            11867
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        22737
<DISTRIBUTIONS-OF-GAINS>                         16164
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           8976
<NUMBER-OF-SHARES-REDEEMED>                       8252
<SHARES-REINVESTED>                               3110
<NET-CHANGE-IN-ASSETS>                           13213
<ACCUMULATED-NII-PRIOR>                           1450
<ACCUMULATED-GAINS-PRIOR>                        20128
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              790
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   1327
<AVERAGE-NET-ASSETS>                            530822
<PER-SHARE-NAV-BEGIN>                            10.91
<PER-SHARE-NII>                                   0.57
<PER-SHARE-GAIN-APPREC>                         (0.33)
<PER-SHARE-DIVIDEND>                              0.46
<PER-SHARE-DISTRIBUTIONS>                         0.33
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.36
<EXPENSE-RATIO>                                   0.50



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 15
   <NAME> PAYDEN & RYGEL GLOBAL BALANCED FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                             5705
<INVESTMENTS-AT-VALUE>                            6812
<RECEIVABLES>                                       64
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              1386
<TOTAL-ASSETS>                                    8262
<PAYABLE-FOR-SECURITIES>                            13
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          201
<TOTAL-LIABILITIES>                                214
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          6538
<SHARES-COMMON-STOCK>                              701
<SHARES-COMMON-PRIOR>                              653
<ACCUMULATED-NII-CURRENT>                           73
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            230
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          1207
<NET-ASSETS>                                      8048
<DIVIDEND-INCOME>                                   21
<INTEREST-INCOME>                                   91
<OTHER-INCOME>                                     (2)
<EXPENSES-NET>                                      27
<NET-INVESTMENT-INCOME>                             83
<REALIZED-GAINS-CURRENT>                           115
<APPREC-INCREASE-CURRENT>                          717
<NET-CHANGE-FROM-OPS>                              915
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           26
<DISTRIBUTIONS-OF-GAINS>                           491
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             16
<NUMBER-OF-SHARES-REDEEMED>                         11
<SHARES-REINVESTED>                                 43
<NET-CHANGE-IN-ASSETS>                             971
<ACCUMULATED-NII-PRIOR>                             15
<ACCUMULATED-GAINS-PRIOR>                          566
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               19
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     67
<AVERAGE-NET-ASSETS>                              7653
<PER-SHARE-NAV-BEGIN>                            10.84
<PER-SHARE-NII>                                   0.04
<PER-SHARE-GAIN-APPREC>                           1.33
<PER-SHARE-DIVIDEND>                              0.04
<PER-SHARE-DISTRIBUTIONS>                         0.68
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.49
<EXPENSE-RATIO>                                   0.70


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 12
   <NAME> PAYDEN & RYGEL GLOBAL SHORT BOND FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                           251466
<INVESTMENTS-AT-VALUE>                          248889
<RECEIVABLES>                                     7057
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              1439
<TOTAL-ASSETS>                                  257385
<PAYABLE-FOR-SECURITIES>                          1753
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          479
<TOTAL-LIABILITIES>                               2232
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        260092
<SHARES-COMMON-STOCK>                            25810
<SHARES-COMMON-PRIOR>                            24413
<ACCUMULATED-NII-CURRENT>                       (3600)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            381
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        (1720)
<NET-ASSETS>                                    255153
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 5297
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     597
<NET-INVESTMENT-INCOME>                           4700
<REALIZED-GAINS-CURRENT>                          4956
<APPREC-INCREASE-CURRENT>                       (4187)
<NET-CHANGE-FROM-OPS>                             5469
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        15398
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           3422
<NUMBER-OF-SHARES-REDEEMED>                       3450
<SHARES-REINVESTED>                               1425
<NET-CHANGE-IN-ASSETS>                            3543
<ACCUMULATED-NII-PRIOR>                           7098
<ACCUMULATED-GAINS-PRIOR>                       (4576)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              359
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    597
<AVERAGE-NET-ASSETS>                            242624
<PER-SHARE-NAV-BEGIN>                            10.31
<PER-SHARE-NII>                                   0.75
<PER-SHARE-GAIN-APPREC>                         (0.52)
<PER-SHARE-DIVIDEND>                              0.65
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.89
<EXPENSE-RATIO>                                   0.50


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 20
   <NAME> PAYDEN & RYGEL SMALL CAP GROWTH STOCK FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                             2269
<INVESTMENTS-AT-VALUE>                            2543
<RECEIVABLES>                                        1
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<OTHER-ITEMS-ASSETS>                               332
<TOTAL-ASSETS>                                    2876
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           79
<TOTAL-LIABILITIES>                                 79
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          2736
<SHARES-COMMON-STOCK>                              259
<SHARES-COMMON-PRIOR>                              262
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (213)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           274
<NET-ASSETS>                                      2797
<DIVIDEND-INCOME>                                    6
<INTEREST-INCOME>                                    4
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      10
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                          (57)
<APPREC-INCREASE-CURRENT>                          500
<NET-CHANGE-FROM-OPS>                              443
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             37
<NUMBER-OF-SHARES-REDEEMED>                         40
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                             413
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                        (156)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                8
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     36
<AVERAGE-NET-ASSETS>                              2618
<PER-SHARE-NAV-BEGIN>                             9.11
<PER-SHARE-NII>                                   0.00
<PER-SHARE-GAIN-APPREC>                           1.70
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.81
<EXPENSE-RATIO>                                   0.80


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 21
   <NAME> PAYDEN & RYGEL HIGH INCOME FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                           114829
<INVESTMENTS-AT-VALUE>                          114633
<RECEIVABLES>                                     4340
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              6594
<TOTAL-ASSETS>                                  125567
<PAYABLE-FOR-SECURITIES>                          1722
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           78
<TOTAL-LIABILITIES>                               1800
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        124464
<SHARES-COMMON-STOCK>                            12116
<SHARES-COMMON-PRIOR>                             9382
<ACCUMULATED-NII-CURRENT>                         1107
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (1609)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (195)
<NET-ASSETS>                                    123767
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 4326
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     297
<NET-INVESTMENT-INCOME>                           4028
<REALIZED-GAINS-CURRENT>                         (542)
<APPREC-INCREASE-CURRENT>                         4703
<NET-CHANGE-FROM-OPS>                             8189
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         3907
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           3966
<NUMBER-OF-SHARES-REDEEMED>                       1583
<SHARES-REINVESTED>                                351
<NET-CHANGE-IN-ASSETS>                           32099
<ACCUMULATED-NII-PRIOR>                            986
<ACCUMULATED-GAINS-PRIOR>                       (1067)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              177
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    297
<AVERAGE-NET-ASSETS>                            105524
<PER-SHARE-NAV-BEGIN>                             9.77
<PER-SHARE-NII>                                   0.48
<PER-SHARE-GAIN-APPREC>                           0.36
<PER-SHARE-DIVIDEND>                              0.39
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                              10.22
<EXPENSE-RATIO>                                   0.59


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 16
   <NAME> PAYDEN & RYGEL INTERNATIONAL EQUITY FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                             3700
<INVESTMENTS-AT-VALUE>                            3701
<RECEIVABLES>                                       52
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              2595
<TOTAL-ASSETS>                                    6348
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          178
<TOTAL-LIABILITIES>                                178
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          4593
<SHARES-COMMON-STOCK>                              526
<SHARES-COMMON-PRIOR>                             1702
<ACCUMULATED-NII-CURRENT>                           19
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           1393
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           165
<NET-ASSETS>                                      6170
<DIVIDEND-INCOME>                                   46
<INTEREST-INCOME>                                   59
<OTHER-INCOME>                                     (5)
<EXPENSES-NET>                                      63
<NET-INVESTMENT-INCOME>                             36
<REALIZED-GAINS-CURRENT>                          2515
<APPREC-INCREASE-CURRENT>                        (967)
<NET-CHANGE-FROM-OPS>                             1584
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          185
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             81
<NUMBER-OF-SHARES-REDEEMED>                       1270
<SHARES-REINVESTED>                                 13
<NET-CHANGE-IN-ASSETS>                         (12153)
<ACCUMULATED-NII-PRIOR>                            169
<ACCUMULATED-GAINS-PRIOR>                       (1122)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               42
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    108
<AVERAGE-NET-ASSETS>                             13670
<PER-SHARE-NAV-BEGIN>                            10.77
<PER-SHARE-NII>                                   0.13
<PER-SHARE-GAIN-APPREC>                           1.00
<PER-SHARE-DIVIDEND>                              0.16
<PER-SHARE-DISTRIBUTIONS>                         0.00
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.74
<EXPENSE-RATIO>                                   0.90



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 5
   <NAME> PAYDEN & RYGEL INVESTMENT QUALITY BOND FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                           292856
<INVESTMENTS-AT-VALUE>                          291148
<RECEIVABLES>                                     3763
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              1982
<TOTAL-ASSETS>                                  296893
<PAYABLE-FOR-SECURITIES>                         42419
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          564
<TOTAL-LIABILITIES>                              42983
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        255854
<SHARES-COMMON-STOCK>                            25686
<SHARES-COMMON-PRIOR>                            17111
<ACCUMULATED-NII-CURRENT>                          481
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (554)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        (1871)
<NET-ASSETS>                                    253910
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 7353
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     570
<NET-INVESTMENT-INCOME>                           6783
<REALIZED-GAINS-CURRENT>                         (660)
<APPREC-INCREASE-CURRENT>                       (4407)
<NET-CHANGE-FROM-OPS>                             1716
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         6505
<DISTRIBUTIONS-OF-GAINS>                          1978
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          13804
<NUMBER-OF-SHARES-REDEEMED>                       6036
<SHARES-REINVESTED>                                807
<NET-CHANGE-IN-ASSETS>                           79937
<ACCUMULATED-NII-PRIOR>                            203
<ACCUMULATED-GAINS-PRIOR>                         1077
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              320
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    570
<AVERAGE-NET-ASSETS>                            223110
<PER-SHARE-NAV-BEGIN>                            10.17
<PER-SHARE-NII>                                   0.30
<PER-SHARE-GAIN-APPREC>                         (0.21)
<PER-SHARE-DIVIDEND>                              0.29
<PER-SHARE-DISTRIBUTIONS>                         0.08
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.89
<EXPENSE-RATIO>                                   0.50


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 6
   <NAME> PAYDEN & RYGEL LIMITED MATURITY FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            80650
<INVESTMENTS-AT-VALUE>                           80884
<RECEIVABLES>                                      576
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              1190
<TOTAL-ASSETS>                                   82650
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          892
<TOTAL-LIABILITIES>                                892
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         81710
<SHARES-COMMON-STOCK>                             8143
<SHARES-COMMON-PRIOR>                            11608
<ACCUMULATED-NII-CURRENT>                          178
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (365)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           235
<NET-ASSETS>                                     81758
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 3030
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     194
<NET-INVESTMENT-INCOME>                           2836
<REALIZED-GAINS-CURRENT>                         (201)
<APPREC-INCREASE-CURRENT>                        (128)
<NET-CHANGE-FROM-OPS>                             2507
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         2796
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           7047
<NUMBER-OF-SHARES-REDEEMED>                      10790
<SHARES-REINVESTED>                                278
<NET-CHANGE-IN-ASSETS>                         (35284)
<ACCUMULATED-NII-PRIOR>                            138
<ACCUMULATED-GAINS-PRIOR>                        (164)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              149
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    271
<AVERAGE-NET-ASSETS>                            102391
<PER-SHARE-NAV-BEGIN>                            10.08
<PER-SHARE-NII>                                   0.30
<PER-SHARE-GAIN-APPREC>                         (0.06)
<PER-SHARE-DIVIDEND>                              0.28
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.04
<EXPENSE-RATIO>                                   0.36



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 11
   <NAME> PAYDEN & RYGEL MARKET RETURN
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            60918
<INVESTMENTS-AT-VALUE>                           60992
<RECEIVABLES>                                      451
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              1889
<TOTAL-ASSETS>                                   63332
<PAYABLE-FOR-SECURITIES>                           508
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<TOTAL-LIABILITIES>                                833
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         54108
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<SHARES-COMMON-PRIOR>                             3261
<ACCUMULATED-NII-CURRENT>                           63
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           6205
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          2123
<NET-ASSETS>                                     62499
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 1490
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     116
<NET-INVESTMENT-INCOME>                           1374
<REALIZED-GAINS-CURRENT>                         10212
<APPREC-INCREASE-CURRENT>                       (1477)
<NET-CHANGE-FROM-OPS>                            10109
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         1368
<DISTRIBUTIONS-OF-GAINS>                          2497
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           1570
<NUMBER-OF-SHARES-REDEEMED>                        929
<SHARES-REINVESTED>                                259
<NET-CHANGE-IN-ASSETS>                           19109
<ACCUMULATED-NII-PRIOR>                             57
<ACCUMULATED-GAINS-PRIOR>                       (1510)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               72
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    144
<AVERAGE-NET-ASSETS>                             52282
<PER-SHARE-NAV-BEGIN>                            13.31
<PER-SHARE-NII>                                   0.38
<PER-SHARE-GAIN-APPREC>                           2.43
<PER-SHARE-DIVIDEND>                              0.37
<PER-SHARE-DISTRIBUTIONS>                         0.73
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.02
<EXPENSE-RATIO>                                   0.45



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 3
   <NAME> PAYDEN & RYGEL SHORT BOND FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                           114904
<INVESTMENTS-AT-VALUE>                          114949
<RECEIVABLES>                                     1691
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              2934
<TOTAL-ASSETS>                                  119574
<PAYABLE-FOR-SECURITIES>                         12216
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          589
<TOTAL-LIABILITIES>                              12805
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        107189
<SHARES-COMMON-STOCK>                            10830
<SHARES-COMMON-PRIOR>                            10928
<ACCUMULATED-NII-CURRENT>                          230
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (674)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                            24
<NET-ASSETS>                                    106769
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 2906
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     195
<NET-INVESTMENT-INCOME>                           2711
<REALIZED-GAINS-CURRENT>                         (255)
<APPREC-INCREASE-CURRENT>                        (758)
<NET-CHANGE-FROM-OPS>                             1698
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         2484
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           2814
<NUMBER-OF-SHARES-REDEEMED>                       3163
<SHARES-REINVESTED>                                251
<NET-CHANGE-IN-ASSETS>                          (1891)
<ACCUMULATED-NII-PRIOR>                              3
<ACCUMULATED-GAINS-PRIOR>                        (419)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              137
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    243
<AVERAGE-NET-ASSETS>                            100932
<PER-SHARE-NAV-BEGIN>                             9.94
<PER-SHARE-NII>                                   0.27
<PER-SHARE-GAIN-APPREC>                         (0.10)
<PER-SHARE-DIVIDEND>                              0.25
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.86
<EXPENSE-RATIO>                                   0.40



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 7
   <NAME> PAYDEN & RYGEL SHORT DURATION TAX EXEMPT FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            16262
<INVESTMENTS-AT-VALUE>                           16394
<RECEIVABLES>                                      237
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               423
<TOTAL-ASSETS>                                   17054
<PAYABLE-FOR-SECURITIES>                           530
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          348
<TOTAL-LIABILITIES>                                878
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         15989
<SHARES-COMMON-STOCK>                             1618
<SHARES-COMMON-PRIOR>                             1665
<ACCUMULATED-NII-CURRENT>                           12
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             44
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           131
<NET-ASSETS>                                     16176
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  337
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      40
<NET-INVESTMENT-INCOME>                            296
<REALIZED-GAINS-CURRENT>                            44
<APPREC-INCREASE-CURRENT>                         (74)
<NET-CHANGE-FROM-OPS>                              266
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          296
<DISTRIBUTIONS-OF-GAINS>                           140
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<NUMBER-OF-SHARES-REDEEMED>                        314
<SHARES-REINVESTED>                                 37
<NET-CHANGE-IN-ASSETS>                           (648)
<ACCUMULATED-NII-PRIOR>                             12
<ACCUMULATED-GAINS-PRIOR>                          140
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<AVERAGE-NET-ASSETS>                             16192
<PER-SHARE-NAV-BEGIN>                            10.11
<PER-SHARE-NII>                                   0.19
<PER-SHARE-GAIN-APPREC>                         (0.03)
<PER-SHARE-DIVIDEND>                              0.18
<PER-SHARE-DISTRIBUTIONS>                         0.09
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.00
<EXPENSE-RATIO>                                   0.50



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 2
   <NAME> PAYDEN & RYGEL TAX EXEMPT BOND FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            59537
<INVESTMENTS-AT-VALUE>                           61322
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         61095
<SHARES-COMMON-STOCK>                             6314
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<ACCUMULATED-NII-CURRENT>                           51
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<ACCUMULATED-NET-GAINS>                          (626)
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<NET-ASSETS>                                     62305
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<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     168
<NET-INVESTMENT-INCOME>                           1362
<REALIZED-GAINS-CURRENT>                           686
<APPREC-INCREASE-CURRENT>                       (1043)
<NET-CHANGE-FROM-OPS>                             1005
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         1363
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           1114
<NUMBER-OF-SHARES-REDEEMED>                       1759
<SHARES-REINVESTED>                                115
<NET-CHANGE-IN-ASSETS>                          (5584)
<ACCUMULATED-NII-PRIOR>                             52
<ACCUMULATED-GAINS-PRIOR>                       (1312)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    194
<AVERAGE-NET-ASSETS>                             66971
<PER-SHARE-NAV-BEGIN>                             9.92
<PER-SHARE-NII>                                   0.21
<PER-SHARE-GAIN-APPREC>                         (0.06)
<PER-SHARE-DIVIDEND>                              0.20
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.87
<EXPENSE-RATIO>                                   0.50



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 14
   <NAME> PAYDEN & RYGEL TOTAL RETURN FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                           210025
<INVESTMENTS-AT-VALUE>                          208746
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<ASSETS-OTHER>                                       0
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<PAYABLE-FOR-SECURITIES>                         28202
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        184232
<SHARES-COMMON-STOCK>                            18105
<SHARES-COMMON-PRIOR>                            17065
<ACCUMULATED-NII-CURRENT>                       (1070)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           1581
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (357)
<NET-ASSETS>                                    184386
<DIVIDEND-INCOME>                                    0
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<DISTRIBUTIONS-OF-INCOME>                         5080
<DISTRIBUTIONS-OF-GAINS>                           811
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<NUMBER-OF-SHARES-SOLD>                           3594
<NUMBER-OF-SHARES-REDEEMED>                       3107
<SHARES-REINVESTED>                                553
<NET-CHANGE-IN-ASSETS>                            9774
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                       (1353)
<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    451
<AVERAGE-NET-ASSETS>                            181699
<PER-SHARE-NAV-BEGIN>                            10.23
<PER-SHARE-NII>                                   0.36
<PER-SHARE-GAIN-APPREC>                         (0.07)
<PER-SHARE-DIVIDEND>                              0.29
<PER-SHARE-DISTRIBUTIONS>                         0.05
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.18
<EXPENSE-RATIO>                                   0.50


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 9
   <NAME> PAYDEN & RYGEL U.S. GOVERNMENT FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            90578
<INVESTMENTS-AT-VALUE>                           90353
<RECEIVABLES>                                    15805
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                              2273
<TOTAL-ASSETS>                                  108431
<PAYABLE-FOR-SECURITIES>                         32256
<SENIOR-LONG-TERM-DEBT>                              0
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<TOTAL-LIABILITIES>                              32601
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         76063
<SHARES-COMMON-STOCK>                             7127
<SHARES-COMMON-PRIOR>                             6592
<ACCUMULATED-NII-CURRENT>                           77
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           (85)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (225)
<NET-ASSETS>                                     75830
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 2064
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<EXPENSES-NET>                                     144
<NET-INVESTMENT-INCOME>                           1920
<REALIZED-GAINS-CURRENT>                         (110)
<APPREC-INCREASE-CURRENT>                       (1250)
<NET-CHANGE-FROM-OPS>                              560
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         1918
<DISTRIBUTIONS-OF-GAINS>                           378
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<NUMBER-OF-SHARES-SOLD>                           1021
<NUMBER-OF-SHARES-REDEEMED>                        701
<SHARES-REINVESTED>                                215
<NET-CHANGE-IN-ASSETS>                            3974
<ACCUMULATED-NII-PRIOR>                             74
<ACCUMULATED-GAINS-PRIOR>                          403
<OVERDISTRIB-NII-PRIOR>                              0
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<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                             72924
<PER-SHARE-NAV-BEGIN>                            10.90
<PER-SHARE-NII>                                   0.29
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<PER-SHARE-DIVIDEND>                              0.28
<PER-SHARE-DISTRIBUTIONS>                         0.06
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.64
<EXPENSE-RATIO>                                   0.40



</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000885709
<NAME> PAYDEN & RYGEL INVESTMENT GROUP
<SERIES>
   <NUMBER> 19
   <NAME> PAYDEN & RYGEL SMALL CAP VALUE STOCK FUND
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1999
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1999
<INVESTMENTS-AT-COST>                            19653
<INVESTMENTS-AT-VALUE>                           18650
<RECEIVABLES>                                        8
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<OTHER-ITEMS-ASSETS>                              3098
<TOTAL-ASSETS>                                   21756
<PAYABLE-FOR-SECURITIES>                            28
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           63
<TOTAL-LIABILITIES>                                 91
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         24747
<SHARES-COMMON-STOCK>                             2117
<SHARES-COMMON-PRIOR>                             2537
<ACCUMULATED-NII-CURRENT>                           50
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         (2249)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         (883)
<NET-ASSETS>                                     21665
<DIVIDEND-INCOME>                                   89
<INTEREST-INCOME>                                  113
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      92
<NET-INVESTMENT-INCOME>                            110
<REALIZED-GAINS-CURRENT>                          1066
<APPREC-INCREASE-CURRENT>                         1309
<NET-CHANGE-FROM-OPS>                             2485
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<DISTRIBUTIONS-OF-GAINS>                             0
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<NUMBER-OF-SHARES-SOLD>                            209
<NUMBER-OF-SHARES-REDEEMED>                        639
<SHARES-REINVESTED>                                 10
<NET-CHANGE-IN-ASSETS>                          (1879)
<ACCUMULATED-NII-PRIOR>                             74
<ACCUMULATED-GAINS-PRIOR>                       (3314)
<OVERDISTRIB-NII-PRIOR>                              0
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<AVERAGE-NET-ASSETS>                             23150
<PER-SHARE-NAV-BEGIN>                             9.28
<PER-SHARE-NII>                                   0.08
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.23
<EXPENSE-RATIO>                                   0.80


</TABLE>


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