<PAGE> PAGE 1
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<PAGE> PAGE 3
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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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 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 18
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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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<PAGE> PAGE 38
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SIGNATURE WILLIAM M GREILICH
TITLE VICE PRESIDENT
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<NET-CHANGE-IN-ASSETS> 4,995,765
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<TABLE> <S> <C>
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<NAME> EQUITY
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<OVERDISTRIBUTION-NII> (1,184)
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 37,540,467
<NET-ASSETS> 119,798,886
<DIVIDEND-INCOME> 742,119
<INTEREST-INCOME> 130,445
<OTHER-INCOME> 0
<EXPENSES-NET> 983,200
<NET-INVESTMENT-INCOME> (110,636)
<REALIZED-GAINS-CURRENT> 11,475,406
<APPREC-INCREASE-CURRENT> 14,108,713
<NET-CHANGE-FROM-OPS> 25,473,483
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> (10,040,586)
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<NUMBER-OF-SHARES-SOLD> 529,795
<NUMBER-OF-SHARES-REDEEMED> (446,526)
<SHARES-REINVESTED> 487,786
<NET-CHANGE-IN-ASSETS> 27,178,980
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,168,187
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 765,471
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 983,200
<AVERAGE-NET-ASSETS> 102,062,830
<PER-SHARE-NAV-BEGIN> 19.20
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 5.05
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (2.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.21
<EXPENSE-RATIO> 0.96
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 040
<NAME> HIGH QUALITY BOND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 23,694,120
<INVESTMENTS-AT-VALUE> 22,536,200
<RECEIVABLES> 371,803
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 2,161
<TOTAL-ASSETS> 22,910,164
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 157,509
<TOTAL-LIABILITIES> 157,509
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,257,597
<SHARES-COMMON-STOCK> 2,342,807
<SHARES-COMMON-PRIOR> 2,175,866
<ACCUMULATED-NII-CURRENT> 12,474
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (359,496)
<ACCUM-APPREC-OR-DEPREC> (1,157,920)
<NET-ASSETS> 22,752,655
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,483,062
<OTHER-INCOME> 0
<EXPENSES-NET> 150,853
<NET-INVESTMENT-INCOME> 1,332,209
<REALIZED-GAINS-CURRENT> (333,729)
<APPREC-INCREASE-CURRENT> (1,922,292)
<NET-CHANGE-FROM-OPS> (923,812)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,332,289)
<DISTRIBUTIONS-OF-GAINS> (34,729)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 446,990
<NUMBER-OF-SHARES-REDEEMED> (403,290)
<SHARES-REINVESTED> 123,241
<NET-CHANGE-IN-ASSETS> (536,167)
<ACCUMULATED-NII-PRIOR> 5,159
<ACCUMULATED-GAINS-PRIOR> 16,357
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 128,753
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 240,559
<AVERAGE-NET-ASSETS> 23,409,683
<PER-SHARE-NAV-BEGIN> 10.70
<PER-SHARE-NII> 0.58
<PER-SHARE-GAIN-APPREC> (0.98)
<PER-SHARE-DIVIDEND> (0.58)
<PER-SHARE-DISTRIBUTIONS> (0.01)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.71
<EXPENSE-RATIO> 0.64
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 030
<NAME> ASSET ALLOCATION FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 89,707,624
<INVESTMENTS-AT-VALUE> 106,359,903
<RECEIVABLES> 698,338
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1,248
<TOTAL-ASSETS> 107,059,489
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 190,441
<TOTAL-LIABILITIES> 190,441
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 90,540,972
<SHARES-COMMON-STOCK> 6,302,998
<SHARES-COMMON-PRIOR> 4,799,857
<ACCUMULATED-NII-CURRENT> 56
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (324,259)
<ACCUM-APPREC-OR-DEPREC> 16,652,279
<NET-ASSETS> 106,869,048
<DIVIDEND-INCOME> 392,444
<INTEREST-INCOME> 2,881,285
<OTHER-INCOME> 0
<EXPENSES-NET> 962,087
<NET-INVESTMENT-INCOME> 2,311,642
<REALIZED-GAINS-CURRENT> 865,351
<APPREC-INCREASE-CURRENT> 3,331,615
<NET-CHANGE-FROM-OPS> 4,196,966
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,319,007)
<DISTRIBUTIONS-OF-GAINS> (928,788)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,550,356
<NUMBER-OF-SHARES-REDEEMED> (243,190)
<SHARES-REINVESTED> 195,975
<NET-CHANGE-IN-ASSETS> 28,283,044
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (253,401)
<GROSS-ADVISORY-FEES> 707,718
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 962,087
<AVERAGE-NET-ASSETS> 94,362,387
<PER-SHARE-NAV-BEGIN> 16.37
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> 0.74
<PER-SHARE-DIVIDEND> (0.40)
<PER-SHARE-DISTRIBUTIONS> (0.15)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.96
<EXPENSE-RATIO> 1.02
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 05
<NAME> GROWTH & INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 11,549,081
<INVESTMENTS-AT-VALUE> 12,441,731
<RECEIVABLES> 18,665
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,635
<TOTAL-ASSETS> 12,468,031
<PAYABLE-FOR-SECURITIES> 11,183
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 33,043
<TOTAL-LIABILITIES> 44,226
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11,647,650
<SHARES-COMMON-STOCK> 1,143,071
<SHARES-COMMON-PRIOR> 738,837
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (117)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (116,378)
<ACCUM-APPREC-OR-DEPREC> 892,650
<NET-ASSETS> 12,423,805
<DIVIDEND-INCOME> 137,074
<INTEREST-INCOME> 55,104
<OTHER-INCOME> 0
<EXPENSES-NET> 150,210
<NET-INVESTMENT-INCOME> 41,968
<REALIZED-GAINS-CURRENT> 79,800
<APPREC-INCREASE-CURRENT> 481,482
<NET-CHANGE-FROM-OPS> 603,250
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 45,299
<DISTRIBUTIONS-OF-GAINS> 168,302
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 471,583
<NUMBER-OF-SHARES-REDEEMED> 87,665
<SHARES-REINVESTED> 20,316
<NET-CHANGE-IN-ASSETS> 4,787,055
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 27,996
<GROSS-ADVISORY-FEES> 75,455
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 150,282
<AVERAGE-NET-ASSETS> 10,073,700
<PER-SHARE-NAV-BEGIN> 10.34
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.68
<PER-SHARE-DIVIDEND> (0.05)
<PER-SHARE-DISTRIBUTIONS> (0.15)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.87
<EXPENSE-RATIO> 1.49
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 060
<NAME> SMALL COMPANY GROWTH FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 1,624,230
<INVESTMENTS-AT-VALUE> 2,300,340
<RECEIVABLES> 13,997
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 7,956
<TOTAL-ASSETS> 2,322,293
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,384
<TOTAL-LIABILITIES> 17,384
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,445,199
<SHARES-COMMON-STOCK> 161,307
<SHARES-COMMON-PRIOR> 128,033
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (19)
<ACCUMULATED-NET-GAINS> 183,619
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 676,110
<NET-ASSETS> 2,304,909
<DIVIDEND-INCOME> 1,173
<INTEREST-INCOME> 5,787
<OTHER-INCOME> 0
<EXPENSES-NET> 23,997
<NET-INVESTMENT-INCOME> (17,037)
<REALIZED-GAINS-CURRENT> 361,486
<APPREC-INCREASE-CURRENT> 614,996
<NET-CHANGE-FROM-OPS> 959,445
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 90,900
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 42,846
<NUMBER-OF-SHARES-REDEEMED> 16,592
<SHARES-REINVESTED> 7,020
<NET-CHANGE-IN-ASSETS> 1,162,236
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 72,146
<GROSS-ADVISORY-FEES> 11,249
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 89,501
<AVERAGE-NET-ASSETS> 1,503,603
<PER-SHARE-NAV-BEGIN> 8.92
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> 6.07
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.59)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.29
<EXPENSE-RATIO> 1.60
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 070
<NAME> COLUMBIA REAL ESTATE EQUITY FUND II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 1,100,246
<INVESTMENTS-AT-VALUE> 986,897
<RECEIVABLES> 15,336
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 6,973
<TOTAL-ASSETS> 1,009,206
<PAYABLE-FOR-SECURITIES> 12,040
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14,261
<TOTAL-LIABILITIES> 26,301
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,134,273
<SHARES-COMMON-STOCK> 121,635
<SHARES-COMMON-PRIOR> 89,245
<ACCUMULATED-NII-CURRENT> 2,814
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 40,833
<ACCUM-APPREC-OR-DEPREC> (113,349)
<NET-ASSETS> 982,905
<DIVIDEND-INCOME> 59,060
<INTEREST-INCOME> 1,809
<OTHER-INCOME> 0
<EXPENSES-NET> 15,823
<NET-INVESTMENT-INCOME> 45,046
<REALIZED-GAINS-CURRENT> (48,332)
<APPREC-INCREASE-CURRENT> (33,881)
<NET-CHANGE-FROM-OPS> (37,167)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 38,564
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 41,231
<NUMBER-OF-SHARES-REDEEMED> 13,512
<SHARES-REINVESTED> 4,671
<NET-CHANGE-IN-ASSETS> 198,889
<ACCUMULATED-NII-PRIOR> 3,141
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 1,507
<GROSS-ADVISORY-FEES> 6,980
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 55,030
<AVERAGE-NET-ASSETS> 931,296
<PER-SHARE-NAV-BEGIN> 8.78
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> (0.74)
<PER-SHARE-DIVIDEND> (0.34)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.08
<EXPENSE-RATIO> 1.70
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 080
<NAME> COLUMBIA HIGH YIELD FUND II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 2,433,223
<INVESTMENTS-AT-VALUE> 2,381,068
<RECEIVABLES> 46,129
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 6,973
<TOTAL-ASSETS> 2,434,170
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,612
<TOTAL-LIABILITIES> 31,612
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,492,207
<SHARES-COMMON-STOCK> 247,638
<SHARES-COMMON-PRIOR> 236,838
<ACCUMULATED-NII-CURRENT> 4,176
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 41,670
<ACCUM-APPREC-OR-DEPREC> (52,155)
<NET-ASSETS> 2,402,558
<DIVIDEND-INCOME> 1,933
<INTEREST-INCOME> 202,583
<OTHER-INCOME> 0
<EXPENSES-NET> 38,059
<NET-INVESTMENT-INCOME> 166,457
<REALIZED-GAINS-CURRENT> (41,541)
<APPREC-INCREASE-CURRENT> (110,950)
<NET-CHANGE-FROM-OPS> 13,966
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 166,461
<DISTRIBUTIONS-OF-GAINS> 3,083
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 96,186
<NUMBER-OF-SHARES-REDEEMED> 100,707
<SHARES-REINVESTED> 15,321
<NET-CHANGE-IN-ASSETS> (51,136)
<ACCUMULATED-NII-PRIOR> 1,854
<ACCUMULATED-GAINS-PRIOR> 3,083
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14,268
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 68,691
<AVERAGE-NET-ASSETS> 2,378,642
<PER-SHARE-NAV-BEGIN> 10.36
<PER-SHARE-NII> 0.70
<PER-SHARE-GAIN-APPREC> (0.65)
<PER-SHARE-DIVIDEND> (0.70)
<PER-SHARE-DISTRIBUTIONS> (0.01)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.70
<EXPENSE-RATIO> 1.60
</TABLE>
