GOVERNMENT INCOME PORTFOLIO
NSAR-A, 1997-08-21
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<PAGE>      PAGE  1
000 A000000 06/30/97
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022 A000002 AUBREY LANSTON CO.
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<PAGE>      PAGE  3
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SIGNATURE   JOHN R. ELDER                                
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000920843
<NAME> GOVERNMENT INCOME PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       54,622,971
<INVESTMENTS-AT-VALUE>                      53,993,515
<RECEIVABLES>                                  547,832
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               694
<TOTAL-ASSETS>                              54,542,041
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                            0
<TOTAL-LIABILITIES>                                  0
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    54,526,059
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
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<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,704,750
<OTHER-INCOME>                                       0
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<NET-INVESTMENT-INCOME>                      1,605,196
<REALIZED-GAINS-CURRENT>                       (32,534)
<APPREC-INCREASE-CURRENT>                       (2,913)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
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</TABLE>


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