<PAGE> PAGE 1
000 B000000 08/31/95
000 C000000 899090
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 THE VALIANT FUND
001 B000000 811-7582
001 C000000 6179850987
002 A000000 1776 HERITAGE DRIVE
002 B000000 NORTH QUINCY
002 C000000 MA
002 D010000 02171
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
008 A00AA01 INTEGRITY MANAGEMENT & RESEARCH, INC.
008 B00AA01 A
008 C00AA01 801-42708
008 D01AA01 SARASOTA
008 D02AA01 FL
008 D03AA01 34236
008 A00AA02 DAVID L. BABSON & CO., INC
008 B00AA02 S
008 C00AA02 801-241
008 D01AA02 CAMBRIDGE
008 D02AA02 MA
008 D03AA02 02142
011 A00AA01 INTEGRITY INVESTMENTS, INC
011 B00AA01 8-45302
011 C01AA01 SARASOTA
011 C02AA01 FL
011 C03AA01 34236
012 A00AA01 STATE STREET BANK & TRUST CO
012 B00AA01 85-05003
012 C01AA01 NORTH QUINCY
012 C02AA01 MA
012 C03AA01 02171
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 100
042 G00AA00 0
<PAGE> PAGE 2
042 H00AA00 0
043 00AA00 138
044 00AA00 0
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 Y
077 Q010000 N
080 A00AA00 FEDERAL INSURANCE COMPANY
080 C00AA00 1250
081 A00AA00 N
081 B00AA00 0
082 A00AA00 Y
082 B00AA00 25
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
062 A000100 Y
062 B000100 35.0
062 C000100 0.0
062 D000100 65.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
<PAGE> PAGE 3
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 12
074 N000100 109753
074 T000100 106297
075 A000100 57061
075 B000100 0
076 000100 0.00
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 1
074 N000200 44
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
<PAGE> PAGE 4
074 R040200 19
074 S000200 0
074 T000200 25
074 U010200 25
074 U020200 0
074 V010200 1.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 1
074 Y000200 0
075 A000200 7162
075 B000200 0
062 A000300 Y
062 B000300 0.0
062 C000300 7.6
062 D000300 31.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 6.1
062 I000300 55.3
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
<PAGE> PAGE 5
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 12
074 N000300 400025
074 T000300 385427
075 A000300 388702
075 B000300 0
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 100.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
071 A000400 0
071 B000400 0
071 C000400 0
071 D000400 0
072 A000400 12
074 N000400 304065
074 O000400 19476
074 P000400 49
074 Q000400 0
<PAGE> PAGE 6
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 886
074 S000400 0
074 T000400 283654
074 U010400 283762
074 U020400 0
074 V010400 1.00
074 V020400 0.00
074 W000400 0.9993
074 X000400 3
074 Y000400 0
075 A000400 257373
075 B000400 0
SIGNATURE SHEILA TWIBLE
TITLE ASST. VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000899090
<NAME> VALIANT U.S. TREASURY MONEY MARKET PORTFOLIO
<SERIES>
<NUMBER> 1
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST> 109722496
<INVESTMENTS-AT-VALUE> 109722496
<RECEIVABLES> 11450
<ASSETS-OTHER> 18805
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 109752751
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3456214
<TOTAL-LIABILITIES> 3456214
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106298124
<SHARES-COMMON-STOCK> 106298124
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1587)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 106296537
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3359996
<OTHER-INCOME> 0
<EXPENSES-NET> 226591
<NET-INVESTMENT-INCOME> 3133405
<REALIZED-GAINS-CURRENT> (1015)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3132390
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 698636
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 140567044
<NUMBER-OF-SHARES-REDEEMED> (110410948)
<SHARES-REINVESTED> 1392
<NET-CHANGE-IN-ASSETS> 92916766
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (114123)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000899090
<NAME> VALIANT U.S. TREASURY MONEY MARKET PORTFOLIO
<SERIES>
<NUMBER> 1
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST> 109722496
<INVESTMENTS-AT-VALUE> 109722496
<RECEIVABLES> 11450
<ASSETS-OTHER> 18805
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 109752751
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3456214
<TOTAL-LIABILITIES> 3456214
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 106298124
<SHARES-COMMON-STOCK> 106298124
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1587)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 106296537
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3359996
<OTHER-INCOME> 0
<EXPENSES-NET> 226591
<NET-INVESTMENT-INCOME> 3133405
<REALIZED-GAINS-CURRENT> (1015)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3132390
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2434769
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 256091467
<NUMBER-OF-SHARES-REDEEMED> (193331174)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 92916766
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (114123)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000899090
<NAME> VALIANT U.S. TREASURY INCOME PORTFOLIO
<SERIES>
<NUMBER> 2
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 43793
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 43793
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18660
<TOTAL-LIABILITIES> 18660
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25126
<SHARES-COMMON-STOCK> 25126
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 25133
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 334370
<OTHER-INCOME> 0
<EXPENSES-NET> 14278
<NET-INVESTMENT-INCOME> 320092
<REALIZED-GAINS-CURRENT> 12
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 320104
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (320092)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 117990836
<NUMBER-OF-SHARES-REDEEMED> (117990836)
<SHARES-REINVESTED> 94
<NET-CHANGE-IN-ASSETS> 25133
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (777404)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000899090
<NAME> VALIANT GENERAL MONEY MARKET PORTFOLIO
<SERIES>
<NUMBER> 3
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST> 399989136
<INVESTMENTS-AT-VALUE> 399989136
<RECEIVABLES> 19919
<ASSETS-OTHER> 16123
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 400025178
<PAYABLE-FOR-SECURITIES> 12677600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1920876
<TOTAL-LIABILITIES> 14598476
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 385517062
<SHARES-COMMON-STOCK> 385517062
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (90360)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 385426702
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 22901569
<OTHER-INCOME> 0
<EXPENSES-NET> 22098898
<NET-INVESTMENT-INCOME> 802671
<REALIZED-GAINS-CURRENT> (36946)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 22061952
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (21559888)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1526314105
<NUMBER-OF-SHARES-REDEEMED> (1317365165)
<SHARES-REINVESTED> 35794
<NET-CHANGE-IN-ASSETS> 208890630
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (777404)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.06)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000899090
<NAME> VALIANT GENERAL MONEY MARKET PORTFOLIO
<SERIES>
<NUMBER> 3
<NAME> CLASS B
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST> 399989136
<INVESTMENTS-AT-VALUE> 399989136
<RECEIVABLES> 19919
<ASSETS-OTHER> 16123
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 400025178
<PAYABLE-FOR-SECURITIES> 12677600
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1920876
<TOTAL-LIABILITIES> 14598476
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 385517062
<SHARES-COMMON-STOCK> 385517062
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (90360)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 385426702
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 22901569
<OTHER-INCOME> 0
<EXPENSES-NET> 22098898
<NET-INVESTMENT-INCOME> 802671
<REALIZED-GAINS-CURRENT> (36946)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 22061952
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (539010)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 16080852
<NUMBER-OF-SHARES-REDEEMED> (16138010)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 208890630
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (777404)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000899090
<NAME> VALIANT TAX-EXEMPT MONEY MARKET PORTFOLIO
<SERIES>
<NUMBER> 4
<NAME> CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1995
<PERIOD-END> AUG-31-1995
<INVESTMENTS-AT-COST> 302564960
<INVESTMENTS-AT-VALUE> 302564960
<RECEIVABLES> 1484079
<ASSETS-OTHER> 15571
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 304064610
<PAYABLE-FOR-SECURITIES> 19476398
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 934610
<TOTAL-LIABILITIES> 20411008
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 283761668
<SHARES-COMMON-STOCK> 283761668
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (108066)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 283653602
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9525553
<OTHER-INCOME> 0
<EXPENSES-NET> 514748
<NET-INVESTMENT-INCOME> 9010805
<REALIZED-GAINS-CURRENT> (58890)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 8951915
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9010805)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 521178341
<NUMBER-OF-SHARES-REDEEMED> (495547749)
<SHARES-REINVESTED> 831
<NET-CHANGE-IN-ASSETS> 25572533
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (514748)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.04)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
