<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000912035
<NAME> MORGAN GRENFELL INVESTMENT FUNDS
<SERIES>
<NUMBER> 121
<NAME> MUNICIPAL BOND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 499761
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<SHARES-COMMON-STOCK> 44876
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<SHARES-REINVESTED> 9923
<NET-CHANGE-IN-ASSETS> (141724)
<ACCUMULATED-NII-PRIOR> 0
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<EXPENSE-RATIO> .55
</TABLE>
