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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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<PAGE> PAGE 9
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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 13
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SIGNATURE JULIAN SLUYTERS
TITLE TREASURER
[ARTICLE] 6
[CIK] 0000908158
[NAME] GLOBAL SMALL CAP FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] JUL-31-1995
[PERIOD-END] JAN-31-1995
[INVESTMENTS-AT-COST] 50643
[INVESTMENTS-AT-VALUE] 44248
[RECEIVABLES] 199
[ASSETS-OTHER] 150
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 44597
[PAYABLE-FOR-SECURITIES] 450
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 346
[TOTAL-LIABILITIES] 796
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 54704
[SHARES-COMMON-STOCK] 3802
[SHARES-COMMON-PRIOR] 3802
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (718)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (2791)
[ACCUM-APPREC-OR-DEPREC] (6394)
[NET-ASSETS] 43801
[DIVIDEND-INCOME] 449
[INTEREST-INCOME] 52
[OTHER-INCOME] 0
[EXPENSES-NET] (483)
[NET-INVESTMENT-INCOME] 18
[REALIZED-GAINS-CURRENT] (2773)
[APPREC-INCREASE-CURRENT] (889)
[NET-CHANGE-FROM-OPS] (3644)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] (3029)
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] (6673)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 3011
[OVERDISTRIB-NII-PRIOR] (737)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] (260)
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] (483)
[AVERAGE-NET-ASSETS] 51560
[PER-SHARE-NAV-BEGIN] 13.28
[PER-SHARE-NII] 0
[PER-SHARE-GAIN-APPREC] (0.96)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] (0.80)
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 11.52
[EXPENSE-RATIO] 1.87
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
