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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE JACQUELINE L. PICKEN
TITLE CORPORATE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 29282934
<INVESTMENTS-AT-VALUE> 29675735
<RECEIVABLES> 393593
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 30069328
<PAYABLE-FOR-SECURITIES> 509374
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 142458
<TOTAL-LIABILITIES> 651832
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 2948447
<SHARES-COMMON-PRIOR> 2395706
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (162505)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 392801
<NET-ASSETS> 29417496
<DIVIDEND-INCOME> 26913
<INTEREST-INCOME> 750746
<OTHER-INCOME> 0
<EXPENSES-NET> 122381
<NET-INVESTMENT-INCOME> 655278
<REALIZED-GAINS-CURRENT> 610184
<APPREC-INCREASE-CURRENT> (735184)
<NET-CHANGE-FROM-OPS> 530278
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 655278
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 40721
<NUMBER-OF-SHARES-SOLD> 555839
<NUMBER-OF-SHARES-REDEEMED> 47051
<SHARES-REINVESTED> 43953
<NET-CHANGE-IN-ASSETS> 5362107
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 81443
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 183122
<AVERAGE-NET-ASSETS> 27177107
<PER-SHARE-NAV-BEGIN> 10.04
<PER-SHARE-NII> .24
<PER-SHARE-GAIN-APPREC> (.04)
<PER-SHARE-DIVIDEND> .24
<PER-SHARE-DISTRIBUTIONS> .00
<RETURNS-OF-CAPITAL> .02
<PER-SHARE-NAV-END> 9.98
<EXPENSE-RATIO> .90<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Ratio ofnet expenses to average net assets, annualized
</FN>
</TABLE>
