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<PAGE> PAGE 5
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SIGNATURE GEORGE HANSETH
TITLE SR. VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
AUDITED ANNUAL REPORT OF THE COLUMIBA FUNDS DATED DECEMBER 31, 1996, AND
THE AUDITED ANNUAL REPORT OF THE COLUMBIA FUNDS DATED DECEMBER 31, 1995,
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000908836
<NAME> COLUMBIA HIGH YIELD FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 26,223,231
<INVESTMENTS-AT-VALUE> 27,074,011
<RECEIVABLES> 792,207
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1,021,624
<TOTAL-ASSETS> 28,887,842
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 69,609
<TOTAL-LIABILITIES> 69,609
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 27,948,773
<SHARES-COMMON-STOCK> 2,900,034
<SHARES-COMMON-PRIOR> 2,375,540
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 18,680
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 850,780
<NET-ASSETS> 28,818,233
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,319,495
<OTHER-INCOME> 0
<EXPENSES-NET> 234,933
<NET-INVESTMENT-INCOME> 2,084,562
<REALIZED-GAINS-CURRENT> 237,862
<APPREC-INCREASE-CURRENT> (1,892)
<NET-CHANGE-FROM-OPS> 2,320,532
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,084,562
<DISTRIBUTIONS-OF-GAINS> 28,544
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,058,203
<NUMBER-OF-SHARES-REDEEMED> 730,964
<SHARES-REINVESTED> 197,255
<NET-CHANGE-IN-ASSETS> 5,347,266
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (190,638)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 150,432
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 250,409
<AVERAGE-NET-ASSETS> 25,135,250
<PER-SHARE-NAV-BEGIN> 9.88
<PER-SHARE-NII> .81
<PER-SHARE-GAIN-APPREC> .07
<PER-SHARE-DIVIDEND> .81
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<EXPENSE-RATIO> .93
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
