<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from
form N-SAR for the period ended May 31, 2000
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 01
<NAME> Hyperion 2002 Term Trust Fund
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> May-31-2000
<PERIOD-END> May-31-2000
<INVESTMENTS-AT-COST> 404,977,971
<INVESTMENTS-AT-VALUE> 390,716,209
<RECEIVABLES> 3,029,666
<ASSETS-OTHER> 87,172
<OTHER-ITEMS-ASSETS> 484
<TOTAL-ASSETS> 393,833,531
<PAYABLE-FOR-SECURITIES> 127,300,126
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 789,355
<TOTAL-LIABILITIES> 128,673,249
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 294,036,513
<SHARES-COMMON-STOCK> 30,446,839
<SHARES-COMMON-PRIOR> 30,446,839
<ACCUMULATED-NII-CURRENT> 11,521,512
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (28,656,436)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,741,307)
<NET-ASSETS> 265,160,282
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 25,043,971
<OTHER-INCOME> 0
<EXPENSES-NET> (12,204,721)
<NET-INVESTMENT-INCOME> 12,839,250
<REALIZED-GAINS-CURRENT> 626,417
<APPREC-INCREASE-CURRENT> (10,323,833)
<NET-CHANGE-FROM-OPS> 3,141,834
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (12,559,688)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (9,417,854)
<ACCUMULATED-NII-PRIOR> 9,548,882
<ACCUMULATED-GAINS-PRIOR> (28,687,379)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,348,264
<INTEREST-EXPENSE> 4,789,519
<GROSS-EXPENSE> 12,204,721
<AVERAGE-NET-ASSETS> 269,649,808
<PER-SHARE-NAV-BEGIN> 9.02
<PER-SHARE-NII> 0.41
<PER-SHARE-GAIN-APPREC> (0.31)
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.71
<EXPENSE-RATIO> 4.53
</TABLE>
