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<PAGE> PAGE 11
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<PAGE> PAGE 12
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028 G030500 0
028 G040500 648
028 H000500 0
029 000500 N
030 A000500 0
030 B000500 0.00
030 C000500 0.00
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
034 000500 N
035 000500 0
036 B000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.500
048 A010500 0
<PAGE> PAGE 22
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000000
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 Y
071 A000500 836
071 B000500 634
071 C000500 1313
071 D000500 48
072 A000500 12
072 B000500 2
072 C000500 1
072 D000500 0
072 E000500 0
072 F000500 0
072 G000500 0
072 H000500 0
072 I000500 0
<PAGE> PAGE 23
072 J000500 5
072 K000500 0
072 L000500 0
072 M000500 1
072 N000500 5
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 6
072 S000500 0
072 T000500 0
072 U000500 1
072 V000500 0
072 W000500 0
072 X000500 18
072 Y000500 8
072 Z000500 -7
072AA000500 76
072BB000500 410
072CC010500 182
072CC020500 0
072DD010500 0
072DD020500 0
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 27
074 D000500 0
074 E000500 0
074 F000500 1557
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 1
074 L000500 0
074 M000500 10
074 N000500 1595
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 9
074 S000500 0
074 T000500 1586
<PAGE> PAGE 24
074 U010500 319952
074 U020500 0
074 V010500 4.96
074 V020500 0.00
074 W000500 0.0000
074 X000500 136
074 Y000500 0
075 A000500 0
075 B000500 1351
076 000500 0.00
028 A010600 474
028 A020600 0
028 A030600 0
028 A040600 1020
028 B010600 180
028 B020600 0
028 B030600 0
028 B040600 584
028 C010600 155
028 C020600 0
028 C030600 0
028 C040600 885
028 D010600 387
028 D020600 0
028 D030600 0
028 D040600 560
028 E010600 1207
028 E020600 0
028 E030600 0
028 E040600 926
028 F010600 860
028 F020600 0
028 F030600 0
028 F040600 396
028 G010600 3263
028 G020600 0
028 G030600 0
028 G040600 4371
028 H000600 0
029 000600 N
030 A000600 0
030 B000600 0.00
030 C000600 0.00
031 A000600 0
031 B000600 0
032 000600 0
033 000600 0
034 000600 N
035 000600 0
036 B000600 0
045 000600 Y
<PAGE> PAGE 25
046 000600 N
047 000600 Y
048 000600 0.900
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048 A020600 0.000
048 B010600 0
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048 C010600 0
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048 E010600 0
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048 I010600 0
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048 J010600 0
048 J020600 0.000
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048 K020600 0.000
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 200
066 A000600 Y
066 B000600 N
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 N
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
<PAGE> PAGE 26
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 N
070 K020600 N
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 21461
071 B000600 11347
071 C000600 9702
071 D000600 117
072 A000600 12
072 B000600 28
072 C000600 9
072 D000600 0
072 E000600 0
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<PAGE> PAGE 27
072 Q000600 41
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<PAGE> PAGE 28
075 A000600 0
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076 000600 0.00
SIGNATURE GLEN W. FEAGINS
TITLE TREASURER
[TEXT]
To the Shareholders and
Board of Directors of Bridgeway Fund, Inc.:
In planning and performing our audit of the financial statements
and financial highlights of Bridgeway Fund, Inc for the year ended
June 30, 1999, we considered its internal control, including control
activities for safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our opinion on the
financial statements and financial highlights and to comply with the
requirements of Form N-SAR, not to provide assurance on internal control.
The management of Bridgeway Fund, Inc. is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required
to assess the expected benefits and related costs of controls.
Generally, controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements and financial highlights for
external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use or
disposition.
Because of inherent limitations in internal control, error or fraud
may occur and not be detected. Also, projection of any evaluation of
internal control to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute of
Certified Public Accountants. A material weakness is a condition in
which the design or operation of one or more of the internal control
components does not reduce to a relatively low level the risk that
misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements and financial highlights
being audited may occur and not be detected within a timely period
by employees in the normal course of performing their assigned
functions. However, we noted no matters involving internal control
and its operation, including controls over safeguarding securities, that
we consider to be material weaknesses as defined above as of June
30, 1999.
This report is intended solely for the information and use of
management, the Board of Directors of Bridgeway Fund Inc. and the
Securities and Exchange Commission.
/s/ PricewaterhouseCoopers, LLP
Houston, Texas
August 23, 1999
[ARTICLE] 6
[SERIES]
[NUMBER] 1
[NAME] ULTRA-SMALL COMPANY PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] 12-MOS
[FISCAL-YEAR-END] JUN-30-1999
[PERIOD-END] JUN-30-1999
[INVESTMENTS-AT-COST] 32693735
[INVESTMENTS-AT-VALUE] 32534988
[RECEIVABLES] 7127
[ASSETS-OTHER] 16315
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 32798929
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 151393
[TOTAL-LIABILITIES] 151393
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 32647536
[SHARES-COMMON-STOCK] 2189000
[SHARES-COMMON-PRIOR] 2053642
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (5288748)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] (158747)
[NET-ASSETS] 32647536
[DIVIDEND-INCOME] 30396
[INTEREST-INCOME] 31049
[OTHER-INCOME] 0
[EXPENSES-NET] 676135
[NET-INVESTMENT-INCOME] (614690)
[REALIZED-GAINS-CURRENT] (5288,748)
[APPREC-INCREASE-CURRENT] (1363335)
[NET-CHANGE-FROM-OPS] (7266773)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 6854952
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 498055
[NUMBER-OF-SHARES-REDEEMED] 916868
[SHARES-REINVESTED] 554171
[NET-CHANGE-IN-ASSETS] (13609159)
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 6797772
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 495000
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 762810
[AVERAGE-NET-ASSETS] 33803669
[PER-SHARE-NAV-BEGIN] 22.52
[PER-SHARE-NII] (.28)
[PER-SHARE-GAIN-APPREC] (3.77)
[PER-SHARE-DIVIDEND] 0.00
[PER-SHARE-DISTRIBUTIONS] 3.56
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.91
[EXPENSE-RATIO] 2.0
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>[ARTICLE] 6
[SERIES]
[NUMBER] 2
[NAME] AGGRESSIVE GROWTH PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] JUN-30-1999
[PERIOD-END] JUN-30-1999
[INVESTMENTS-AT-COST] 6636257
[INVESTMENTS-AT-VALUE] 9264362
[RECEIVABLES] 168745
[ASSETS-OTHER] 95793
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 9528900
[PAYABLE-FOR-SECURITIES] 9927
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 9350
[TOTAL-LIABILITIES] 19277
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 6151083
[SHARES-COMMON-STOCK] 365420
[SHARES-COMMON-PRIOR] 337146
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 730435
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 2628105
[NET-ASSETS] 9509623
[DIVIDEND-INCOME] 10766
[INTEREST-INCOME] 17124
[OTHER-INCOME] 0
[EXPENSES-NET] 75444
[NET-INVESTMENT-INCOME] (47554)
[REALIZED-GAINS-CURRENT] 777843
[APPREC-INCREASE-CURRENT] 1914535
[NET-CHANGE-FROM-OPS] 2644824
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 196285
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 313043
[NUMBER-OF-SHARES-REDEEMED] 298404
[SHARES-REINVESTED] 13635
[NET-CHANGE-IN-ASSETS] 2657803
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 195755
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 14577
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 75444
[AVERAGE-NET-ASSETS] 7289559
[PER-SHARE-NAV-BEGIN] 20.32
[PER-SHARE-NII] (.13)
[PER-SHARE-GAIN-APPREC] 6.43
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] .6
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 26.02
[EXPENSE-RATIO] 1.04
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>[ARTICLE] 6
[SERIES]
[NUMBER] 3
[NAME] SOCIAL RESPONSIBILITY PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] JUN-30-1999
[PERIOD-END] JUN-30-1999
[INVESTMENTS-AT-COST] 1950345
[INVESTMENTS-AT-VALUE] 2757917
[RECEIVABLES] 1215
[ASSETS-OTHER] 65899
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 2825031
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 5445
[TOTAL-LIABILITIES] 5445
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1981013
[SHARES-COMMON-STOCK] 106590
[SHARES-COMMON-PRIOR] 69692
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 31001
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 807572
[NET-ASSETS] 2819586
[DIVIDEND-INCOME] 8802
[INTEREST-INCOME] 8975
[OTHER-INCOME] 0
[EXPENSES-NET] 29695
[NET-INVESTMENT-INCOME] (11918)
[REALIZED-GAINS-CURRENT] 31002
[APPREC-INCREASE-CURRENT] 443829
[NET-CHANGE-FROM-OPS] 462913
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 12184
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 65562
[NUMBER-OF-SHARES-REDEEMED] 29256
[SHARES-REINVESTED] 592
[NET-CHANGE-IN-ASSETS] 1346363
[ACCUMULATED-NII-PRIOR] 724
[ACCUMULATED-GAINS-PRIOR] 8648
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 3966
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 42213
[AVERAGE-NET-ASSETS] 1983358
[PER-SHARE-NAV-BEGIN] 21.14
[PER-SHARE-NII] (.14)
[PER-SHARE-GAIN-APPREC] 5.62
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] .17
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 26.45
[EXPENSE-RATIO] 1.5
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>[ARTICLE] 6
[SERIES]
[NUMBER] 4
[NAME] ULTRA-LARGE 35 INDEX
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] JUN-30-1999
[PERIOD-END] JUN-30-1999
[INVESTMENTS-AT-COST] 3826412
[INVESTMENTS-AT-VALUE] 4524194
[RECEIVABLES] 2973
[ASSETS-OTHER] 26436
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 4553603
[PAYABLE-FOR-SECURITIES] 22366
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 2805
[TOTAL-LIABILITIES] 25171
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 3869621
[SHARES-COMMON-STOCK] 572436
[SHARES-COMMON-PRIOR] 63367
[ACCUMULATED-NII-CURRENT] 18653
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (57624)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 697782
[NET-ASSETS] 4528432
[DIVIDEND-INCOME] 26193
[INTEREST-INCOME] 348
[OTHER-INCOME] 0
[EXPENSES-NET] 3288
[NET-INVESTMENT-INCOME] 23253
[REALIZED-GAINS-CURRENT] (56739)
[APPREC-INCREASE-CURRENT] 655872
[NET-CHANGE-FROM-OPS] 622386
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 6541
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 663522
[NUMBER-OF-SHARES-REDEEMED] 155521
[SHARES-REINVESTED] 1068
[NET-CHANGE-IN-ASSETS] 4142061
[ACCUMULATED-NII-PRIOR] 1941
[ACCUMULATED-GAINS-PRIOR] (885)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1754
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 19646
[AVERAGE-NET-ASSETS] 2192483
[PER-SHARE-NAV-BEGIN] 6.1
[PER-SHARE-NII] .07
[PER-SHARE-GAIN-APPREC] 1.77
[PER-SHARE-DIVIDEND] .03
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0.00
[PER-SHARE-NAV-END] 7.91
[EXPENSE-RATIO] .15
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>[ARTICLE] 6
[SERIES]
[NUMBER] 5
[NAME] ULTRA-SMALL INDEX PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] JUN-30-1999
[PERIOD-END] JUN-30-1999
[INVESTMENTS-AT-COST] 1374152
[INVESTMENTS-AT-VALUE] 1584126
[RECEIVABLES] 719
[ASSETS-OTHER] 9943
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 1594788
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 8623
[TOTAL-LIABILITIES] 8623
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 1710546
[SHARES-COMMON-STOCK] 319952
[SHARES-COMMON-PRIOR] 268960
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (334355)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 209974
[NET-ASSETS] 1586165
[DIVIDEND-INCOME] 1431
[INTEREST-INCOME] 1828
[OTHER-INCOME] 0
[EXPENSES-NET] 10130
[NET-INVESTMENT-INCOME] (6871)
[REALIZED-GAINS-CURRENT] (334355)
[APPREC-INCREASE-CURRENT] 181969
[NET-CHANGE-FROM-OPS] (159257)
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 197735
[NUMBER-OF-SHARES-REDEEMED] 146743
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 56868
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 6753
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 10130
[AVERAGE-NET-ASSETS] 1350642
[PER-SHARE-NAV-BEGIN] 5.69
[PER-SHARE-NII] (.02)
[PER-SHARE-GAIN-APPREC] (.71)
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 4.96
[EXPENSE-RATIO] .75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>[ARTICLE] 6
[SERIES]
[NUMBER] 6
[NAME] MICRO-CAP LIMITED PORTFOLIO
<TABLE>
<S> <C>
[PERIOD-TYPE] YEAR
[FISCAL-YEAR-END] JUN-30-1999
[PERIOD-END] JUN-30-1999
[INVESTMENTS-AT-COST] 11092184
[INVESTMENTS-AT-VALUE] 13857940
[RECEIVABLES] 125809
[ASSETS-OTHER] 149983
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 14133732
[PAYABLE-FOR-SECURITIES] 84500
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 117216
[TOTAL-LIABILITIES] 201716
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 11167541
[SHARES-COMMON-STOCK] 2182232
[SHARES-COMMON-PRIOR] 1814321
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] (1281)
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 2765756
[NET-ASSETS] 13932016
[DIVIDEND-INCOME] 9450
[INTEREST-INCOME] 28217
[OTHER-INCOME] 0
[EXPENSES-NET] 169631
[NET-INVESTMENT-INCOME] (131964)
[REALIZED-GAINS-CURRENT] 130683
[APPREC-INCREASE-CURRENT] 2765756
[NET-CHANGE-FROM-OPS] 2764475
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 0
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 1938703
[NUMBER-OF-SHARES-REDEEMED] 1570792
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 4860411
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 0
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 99314
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 169631
[AVERAGE-NET-ASSETS] 11035386
[PER-SHARE-NAV-BEGIN] 5
[PER-SHARE-NII] (.06)
[PER-SHARE-GAIN-APPREC] 1.44
[PER-SHARE-DIVIDEND] 0
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 6.38
[EXPENSE-RATIO] 1.54
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
