<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000925737
<NAME> BISHOP STREET
<SERIES>
<NUMBER> 041
<NAME> HIGH GRADE INCOME CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-START> JAN-01-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 128455
<INVESTMENTS-AT-VALUE> 126389
<RECEIVABLES> 2342
<ASSETS-OTHER> 47
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 128778
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 690
<TOTAL-LIABILITIES> 690
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 133627
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (3472)
<ACCUM-APPREC-OR-DEPREC> (2066)
<NET-ASSETS> 128088
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3905
<OTHER-INCOME> 0
<EXPENSES-NET> (498)
<NET-INVESTMENT-INCOME> 3407
<REALIZED-GAINS-CURRENT> (3402)
<APPREC-INCREASE-CURRENT> 5718
<NET-CHANGE-FROM-OPS> 5723
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4
<NUMBER-OF-SHARES-REDEEMED> (4)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1)
<OVERDISTRIB-NII-PRIOR> (70)
<OVERDIST-NET-GAINS-PRIOR> (7784)
<GROSS-ADVISORY-FEES> 348
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 707
<AVERAGE-NET-ASSETS> 127191
<PER-SHARE-NAV-BEGIN> 9.35
<PER-SHARE-NII> 0.27
<PER-SHARE-GAIN-APPREC> 0.13
<PER-SHARE-DIVIDEND> (0.24)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.51
<EXPENSE-RATIO> 1.03
</TABLE>