RYDEX SERIES FUNDS
NSAR-B, EX-27, 2000-05-30
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<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 1
   <NAME> U.S. GOVERNMENT MONEY MARKET - INVESTOR CLASS

<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-2000
<PERIOD-END>                               MAR-31-2000
<INVESTMENTS-AT-COST>                       1421821269
<INVESTMENTS-AT-VALUE>                      1421821269
<RECEIVABLES>                                 58516642
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              1480337911
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    581959038
<TOTAL-LIABILITIES>                          581959038
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     898952561
<SHARES-COMMON-STOCK>                        686612592
<SHARES-COMMON-PRIOR>                        949754120
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                          100750
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                        472938
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 898378873
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                             57583436
<OTHER-INCOME>                                    3194
<EXPENSES-NET>                                11256861
<NET-INVESTMENT-INCOME>                       46329769
<REALIZED-GAINS-CURRENT>                      (449126)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                         45880643
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     34870882
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                    26853492338
<NUMBER-OF-SHARES-REDEEMED>                27150956367
<SHARES-REINVESTED>                           34322501
<NET-CHANGE-IN-ASSETS>                     (373004186)
<ACCUMULATED-NII-PRIOR>                          44363
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                       23812
<GROSS-ADVISORY-FEES>                          5487437
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                               11319873
<AVERAGE-NET-ASSETS>                         797450035
<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>                                   0.88


</TABLE>


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