MERRILL LYNCH MIDDLE EAST AFRICA FUND
NSAR-B, 2000-01-28
Previous: PROJECT SOFTWARE & DEVELOPMENT INC, 10-K/A, 2000-01-28
Next: OWOSSO CORP, 10-K, 2000-01-28



<PAGE>      PAGE  1
000 B000000 11/30/1999
000 C000000 0000920599
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 MERRILL LYNCH MIDDLE EAST/AFRICA FUND, INC.
001 B000000 811-7155
001 C000000 6092822800
002 A000000 P.O. BOX 9011
002 B000000 PRINCETON
002 C000000 NJ
002 D010000 08543
002 D020000 9011
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 MERRILL LYNCH ASSET MANAGEMENT, L.P.
008 B000001 A
008 C000001 801-11583
008 D010001 PRINCETON
008 D020001 NJ
008 D030001 08543
008 D040001 9011
008 A000002 MERRILL LYNCH ASSET MANAGEMENT U.K., LTD.
008 B000002 S
008 C000002 801-31780
008 D010002 LONDON
008 D050002 ENGLAND
008 D060002 EC24 9LY
011 A000001 MERRILL LYNCH FUNDS DISTRIBUTOR, INC.
011 B000001 8-14663
011 C010001 PRINCETON
011 C020001 NJ
011 C030001 08543
<PAGE>      PAGE  2
011 C040001 9011
012 A000001 FINANCIAL DATA SERVICES, INC.
012 B000001 84-01339
012 C010001 JACKSONVILLE
012 C020001 FL
012 C030001 32246
012 C040001 6484
013 A000001 DELOITTE & TOUCHE LLP
013 B010001 PRINCETON
013 B020001 NJ
013 B030001 08540
014 A000001 MLPF&S AND OTHER ML BROKER/DEALER AFFILIATES
014 B000001 8-7221
015 A000001 BROWN BROTHERS HARRIMAN & CO.
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
015 A000002 THE BANK OF NEW YORK
015 B000002 S
015 C010002 NEW YORK
015 C020002 NY
015 C030002 10286
015 E010002 X
015 A000003 BANKERS TRUST COMPANY
015 B000003 S
015 C010003 NEW YORK
015 C020003 NY
015 C030003 10006
015 E010003 X
015 A000004 THE CHASE MANHATTAN BANK
015 B000004 S
015 C010004 NEW YORK
015 C020004 NY
015 C030004 10017
015 E010004 X
015 A000005 CUSTODIAL TRUST CO.
015 B000005 S
015 C010005 NEW YORK
015 C020005 NY
015 C030005 10167
015 E010005 X
015 A000006 MORGAN GUARANTY TRUST CO. OF NEW YORK
015 B000006 S
015 C010006 NEW YORK
015 C020006 NY
015 C030006 10260
015 E010006 X
015 A000007 MCSD
015 B000007 S
<PAGE>      PAGE  3
015 C010007 EGYPT
015 D010007 EGYPT
015 E040007 X
015 A000008 TASE CLEARINGHOUSE LTD.
015 B000008 S
015 C010008 ISRAEL
015 D010008 ISRAEL
015 E040008 X
015 A000009 ROYAL BANK OF SCOTLAND TRUST BANK
015 B000009 S
015 C010009 UNITED KINGDOM
015 D010009 UNITED KINGDOM
015 E040009 X
015 A000010 MAROCLEAR
015 B000010 S
015 C010010 MOROCCO
015 D010010 MOROCCO
015 E040010 X
015 A000011 CD
015 B000011 S
015 C010011 SOUTH AFRICA
015 D010011 SOUTH AFRICA
015 E040011 X
015 A000012 TAKASBANK
015 B000012 S
015 C010012 TURKEY
015 D010012 TURKEY
015 E040012 X
015 A000013 C.B.T.
015 B000013 S
015 C010013 TURKEY
015 D010013 TURKEY
015 E040013 X
015 A000014 STANBIC BANK BOTSWANA LTD. FOR SBSA
015 B000014 S
015 C010014 BOTSWANA
015 D010014 BOTSWANA
015 E040014 X
015 A000015 CITIBANK
015 B000015 S
015 C010015 CAIRO
015 D010015 EGYPT
015 E010015 X
015 A000016 MERCHANT BANK GHANA LIMITED
015 B000016 S
015 C010016 GHANA
015 D010016 GHANA
015 E040016 X
015 A000017 BANK HAPOALIM B.M.
015 B000017 S
015 C010017 ISRAEL
<PAGE>      PAGE  4
015 D010017 ISRAEL
015 E040017 X
015 A000018 CGO
015 B000018 S
015 C010018 UNITED KINGDOM
015 D010018 UNITED KINGDOM
015 E040018 X
015 A000019 CITIBANK N.A.
015 B000019 S
015 C010019 MAGHREB
015 D010019 MOROCCO
015 E010019 X
015 A000020 FIRST NATIONAL BANK OF SOUTH AFRICA
015 B000020 S
015 C010020 SOUTH AFRICA
015 D010020 SOUTH AFRICA
015 E040020 X
015 A000021 CITIBANK
015 B000021 S
015 C010021 ISTANBUL
015 D010021 TURKEY
015 E010021 X
015 A000022 STANIC BANK ZIMBABWE LTD. FOR SBSA
015 B000022 S
015 C010022 ZIMBABWE
015 D010022 ZIMBABWE
015 E040022 X
015 A000023 CMO
015 B000023 S
015 C010023 UNITED KINGDOM
015 D010023 UNITED KINGDOM
015 E040023 X
015 A000024 CRESTCO.
015 B000024 S
015 C010024 UNITED KINGDOM
015 D010024 UNITED KINGDOM
015 E040024 X
015 A000025 DRESDNER BANK
015 B000025 S
015 C010025 GERMANY
015 D010025 GERMANY
015 E040025 X
015 A000026 DBC
015 B000026 S
015 C010026 GERMANY
015 D010026 GERMANY
015 E040026 X
018  000000 Y
019 A000000 Y
019 B000000  231
019 C000000 MERRILLLYN
<PAGE>      PAGE  5
020 A000001 ROBERT FLEMING INC.
020 B000001 13-3298866
020 C000001      7
020 A000002 CREDIT SUISSE FIRST BOSTON CORPORATION
020 B000002 13-5659485
020 C000002      5
020 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000003 13-5674085
020 C000003      3
020 A000004 WARBURG DILLION READ LLC
020 B000004 13-3340045
020 C000004      2
020 A000005 DEUTSCHE BANK SECURITIES INC.
020 B000005 13-2730828
020 C000005      2
020 A000006 HSBC SECURITIES (U.S.A) INC.
020 B000006 13-2650272
020 C000006      1
020 A000007 GOLDMAN, SACHS & CO.
020 B000007 13-5108880
020 C000007      1
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       21
022 A000001 HSBC SECURITIES (U.S.A.) INC.
022 B000001 13-2650272
022 C000001     49962
022 D000001      1035
022 A000002 GENERAL MOTORS ACCEPTANCE CORP.
022 C000002      3622
022 D000002         0
022 A000003 MORGAN STANLEY DEAN WITTER & CO.
022 B000003 13-2655998
022 C000003       837
022 D000003         0
022 A000004 GENERAL ELECTRIC CAPITAL CORP.
022 C000004       799
022 D000004         0
022 A000005 GOLDMAN, SACHS & CO.
022 B000005 13-5108880
022 C000005       172
022 D000005       129
022 A000006 ROBERT FLEMING INC.
022 B000006 13-3298866
022 C000006        53
022 D000006       139
022 A000007 ABN AMRO INCORPORATED
022 B000007 13-3227945
022 C000007        66
022 D000007       123
<PAGE>      PAGE  6
022 A000008 CREDIT SUISSE FIRST BOSTON CORPORATION
022 B000008 13-5659485
022 C000008         0
022 D000008       155
022 A000009 DRESDNER KLEINWORT BENSON NORTH AMERICA LLC
022 B000009 13-3894311
022 C000009        58
022 D000009         0
022 A000010 FREIMARK BLAIR & COMPANY, INC.
022 B000010 13-3134466
022 C000010        21
022 D000010         0
023 C000000      55590
023 D000000       1580
024  000000 N
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
028 A010000         1
028 A020000         0
028 A030000         0
028 A040000       130
028 B010000         3
028 B020000         0
028 B030000         0
028 B040000        46
028 C010000         1
028 C020000         0
028 C030000         0
028 C040000       140
028 D010000         1
028 D020000         0
028 D030000         0
028 D040000       122
028 E010000         3
028 E020000         0
028 E030000         0
028 E040000        74
028 F010000         1
028 F020000         0
028 F030000         0
028 F040000        63
028 G010000        10
028 G020000         0
<PAGE>      PAGE  7
028 G030000         0
028 G040000       575
028 H000000         0
029  000000 Y
030 A000000      0
030 B000000  5.25
030 C000000  0.00
031 A000000      0
031 B000000      0
032  000000      0
033  000000      0
034  000000 Y
035  000000     17
036 A000000 Y
036 B000000      0
037  000000 N
038  000000      0
039  000000 N
040  000000 Y
041  000000 Y
042 A000000   0
042 B000000   0
042 C000000 100
042 D000000   0
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000   0
043  000000     29
044  000000      0
045  000000 Y
046  000000 N
047  000000 Y
048  000000  1.000
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
<PAGE>      PAGE  8
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
049  000000 N
050  000000 N
051  000000 N
052  000000 N
053 A000000 Y
053 B000000 Y
053 C000000 N
054 A000000 Y
054 B000000 Y
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
055 A000000 N
055 B000000 N
056  000000 Y
057  000000 N
058 A000000 N
059  000000 Y
060 A000000 N
060 B000000 N
061  000000        0
062 A000000 N
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
062 E000000   0.0
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   0.0
062 M000000   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000   0.0
<PAGE>      PAGE  9
062 Q000000   0.0
062 R000000   0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067  000000 N
068 A000000 N
068 B000000 Y
069  000000 N
070 A010000 Y
070 A020000 N
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000      2765
071 B000000      3097
<PAGE>      PAGE  10
071 C000000      3300
071 D000000   84
072 A000000 12
072 B000000       13
072 C000000      134
072 D000000        0
072 E000000        0
072 F000000       37
072 G000000       78
072 H000000        0
072 I000000       10
072 J000000       30
072 K000000        0
072 L000000       44
072 M000000       45
072 N000000       57
072 O000000        0
072 P000000        0
072 Q000000        0
072 R000000       30
072 S000000       49
072 T000000       29
072 U000000       60
072 V000000        0
072 W000000        6
072 X000000      475
072 Y000000      428
072 Z000000      100
072AA000000      614
072BB000000      438
072CC010000      493
072CC020000        0
072DD010000        0
072DD020000        0
072EE000000        0
073 A010000   0.0000
073 A020000   0.0000
073 B000000   0.0000
073 C000000   0.0000
074 A000000       73
074 B000000        0
074 C000000        0
074 D000000        0
074 E000000        0
074 F000000     3285
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000        0
074 K000000        0
074 L000000        1
<PAGE>      PAGE  11
074 M000000      146
074 N000000     3505
074 O000000       66
074 P000000        2
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000       92
074 S000000        0
074 T000000     3345
074 U010000       91
074 U020000      244
074 V010000     0.00
074 V020000     0.00
074 W000000   0.0000
074 X000000      485
074 Y000000        0
075 A000000        0
075 B000000     3687
076  000000     0.00
077 A000000 Y
077 B000000 Y
078  000000 N
080 A000000 ICI MUTUAL INSURANCE CO.
080 C000000      125
081 A000000 Y
081 B000000 151
082 A000000 N
082 B000000        0
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
SIGNATURE   DONALD C. BURKE
TITLE       TREASURER



<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000920599
<NAME> MERRILL LYNCH MIDDLE EAST/AFRICA FUND, INC.
<SERIES>
   <NUMBER> 001
   <NAME> CLASS A

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          NOV-30-1999
<PERIOD-START>                             DEC-01-1998
<PERIOD-END>                               NOV-30-1999
<INVESTMENTS-AT-COST>                          2779345
<INVESTMENTS-AT-VALUE>                         3284876
<RECEIVABLES>                                      558
<ASSETS-OTHER>                                  219409
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 3504843
<PAYABLE-FOR-SECURITIES>                         65557
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        94538
<TOTAL-LIABILITIES>                             160095
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       3820413
<SHARES-COMMON-STOCK>                            53567
<SHARES-COMMON-PRIOR>                            68847
<ACCUMULATED-NII-CURRENT>                       376674
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1356274)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        503935
<NET-ASSETS>                                    542947
<DIVIDEND-INCOME>                               134291
<INTEREST-INCOME>                                12896
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (47139)
<NET-INVESTMENT-INCOME>                         100048
<REALIZED-GAINS-CURRENT>                        176069
<APPREC-INCREASE-CURRENT>                       492478
<NET-CHANGE-FROM-OPS>                           768595
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           1954
<NUMBER-OF-SHARES-REDEEMED>                    (17234)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (1181130)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (1553048)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            36873
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 475146
<AVERAGE-NET-ASSETS>                            523599
<PER-SHARE-NAV-BEGIN>                             8.18
<PER-SHARE-NII>                                    .32
<PER-SHARE-GAIN-APPREC>                           1.64
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.14
<EXPENSE-RATIO>                                  12.21


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000920599
<NAME> MERRILL LYNCH MIDDLE EAST/AFRICA FUND, INC.
<SERIES>
   <NUMBER> 002
   <NAME> CLASS B

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          NOV-30-1999
<PERIOD-START>                             DEC-01-1998
<PERIOD-END>                               NOV-30-1999
<INVESTMENTS-AT-COST>                          2779345
<INVESTMENTS-AT-VALUE>                         3284876
<RECEIVABLES>                                      558
<ASSETS-OTHER>                                  219409
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 3504843
<PAYABLE-FOR-SECURITIES>                         65557
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        94538
<TOTAL-LIABILITIES>                             160095
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       3820413
<SHARES-COMMON-STOCK>                           222014
<SHARES-COMMON-PRIOR>                           381876
<ACCUMULATED-NII-CURRENT>                       376674
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1356274)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        503935
<NET-ASSETS>                                   2206954
<DIVIDEND-INCOME>                               134291
<INTEREST-INCOME>                                12896
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (47139)
<NET-INVESTMENT-INCOME>                         100048
<REALIZED-GAINS-CURRENT>                        176069
<APPREC-INCREASE-CURRENT>                       492478
<NET-CHANGE-FROM-OPS>                           768595
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          21211
<NUMBER-OF-SHARES-REDEEMED>                   (181073)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (1181130)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (1553048)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            36873
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 475146
<AVERAGE-NET-ASSETS>                           2520746
<PER-SHARE-NAV-BEGIN>                             8.11
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                           1.61
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.94
<EXPENSE-RATIO>                                  13.09


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000920599
<NAME> MERRILL LYNCH MIDDLE EAST/AFRICA FUND, INC.
<SERIES>
   <NUMBER> 003
   <NAME> CLASS C

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          NOV-30-1999
<PERIOD-START>                             DEC-01-1998
<PERIOD-END>                               NOV-30-1999
<INVESTMENTS-AT-COST>                          2779345
<INVESTMENTS-AT-VALUE>                         3284876
<RECEIVABLES>                                      558
<ASSETS-OTHER>                                  219409
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 3504843
<PAYABLE-FOR-SECURITIES>                         65557
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        94538
<TOTAL-LIABILITIES>                             160095
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       3820413
<SHARES-COMMON-STOCK>                            21578
<SHARES-COMMON-PRIOR>                            39050
<ACCUMULATED-NII-CURRENT>                       376674
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1356274)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        503935
<NET-ASSETS>                                    214681
<DIVIDEND-INCOME>                               134291
<INTEREST-INCOME>                                12896
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (47139)
<NET-INVESTMENT-INCOME>                         100048
<REALIZED-GAINS-CURRENT>                        176069
<APPREC-INCREASE-CURRENT>                       492478
<NET-CHANGE-FROM-OPS>                           768595
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            871
<NUMBER-OF-SHARES-REDEEMED>                    (18343)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (1181130)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (1553048)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            36873
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 475146
<AVERAGE-NET-ASSETS>                            251613
<PER-SHARE-NAV-BEGIN>                             8.12
<PER-SHARE-NII>                                    .22
<PER-SHARE-GAIN-APPREC>                           1.61
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.95
<EXPENSE-RATIO>                                  13.13


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000920599
<NAME> MERRILL LYNCH MIDDLE EAST/AFRICA FUND, INC.
<SERIES>
   <NUMBER> 004
   <NAME> CLASS D

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          NOV-30-1999
<PERIOD-START>                             DEC-01-1998
<PERIOD-END>                               NOV-30-1999
<INVESTMENTS-AT-COST>                          2779345
<INVESTMENTS-AT-VALUE>                         3284876
<RECEIVABLES>                                      558
<ASSETS-OTHER>                                  219409
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 3504843
<PAYABLE-FOR-SECURITIES>                         65557
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        94538
<TOTAL-LIABILITIES>                             160095
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       3820413
<SHARES-COMMON-STOCK>                            37722
<SHARES-COMMON-PRIOR>                            67438
<ACCUMULATED-NII-CURRENT>                       376674
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1356274)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        503935
<NET-ASSETS>                                    380166
<DIVIDEND-INCOME>                               134291
<INTEREST-INCOME>                                12896
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (47139)
<NET-INVESTMENT-INCOME>                         100048
<REALIZED-GAINS-CURRENT>                        176069
<APPREC-INCREASE-CURRENT>                       492478
<NET-CHANGE-FROM-OPS>                           768595
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                    (29716)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (1181130)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                    (1553048)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            36873
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 475146
<AVERAGE-NET-ASSETS>                            391389
<PER-SHARE-NAV-BEGIN>                             8.15
<PER-SHARE-NII>                                    .29
<PER-SHARE-GAIN-APPREC>                           1.64
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.08
<EXPENSE-RATIO>                                  12.33


</TABLE>


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission