VANGUARD TAX MANAGED FUND INC
NSAR-A, EX-27, 2000-08-28
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000923202
<NAME> VANGUARD TAX-MANAGED FUNDS
<SERIES>
   <NUMBER> 03
   <NAME> VANGUARD TAX-MANAGED BALANCED FUND
<MULTIPLIER> 1000
<CURRENCY> US

<S>                             <C>
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<PERIOD-START>                             JAN-01-2000
<PERIOD-END>                               JUN-30-2000
<EXCHANGE-RATE>                                      1
<INVESTMENTS-AT-COST>                           302215
<INVESTMENTS-AT-VALUE>                          387655
<RECEIVABLES>                                    11152
<ASSETS-OTHER>                                     176
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  398983
<PAYABLE-FOR-SECURITIES>                         10502
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1186
<TOTAL-LIABILITIES>                              11688
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        302767
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<EQUALIZATION>                                       0
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</TABLE>


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