<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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SIGNATURE PAUL BUCAVALAS
TITLE MANAGING DIRECTOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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Putnam Global Growth and Income Fund
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<NAME> CLASS A
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<NET-CHANGE-FROM-OPS> 8,409,333
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (130,168)
<DISTRIBUTIONS-OF-GAINS> (572,711)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 535,910
<NUMBER-OF-SHARES-REDEEMED> (345,340)
<SHARES-REINVESTED> 54,310
<NET-CHANGE-IN-ASSETS> 13,315,602
<ACCUMULATED-NII-PRIOR> 129,481
<ACCUMULATED-GAINS-PRIOR> 897,492
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 190,458
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 463,161
<AVERAGE-NET-ASSETS> 25,908,089
<PER-SHARE-NAV-BEGIN> 11.39
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 2.30
<PER-SHARE-DIVIDEND> (.07)
<PER-SHARE-DISTRIBUTIONS> (.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.36
<EXPENSE-RATIO> .80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Global Growth and Income Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 50,443,864
<INVESTMENTS-AT-VALUE> 53,250,583
<RECEIVABLES> 988,109
<ASSETS-OTHER> 55,412
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 54,294,104
<PAYABLE-FOR-SECURITIES> 445,256
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 344,548
<TOTAL-LIABILITIES> 789,804
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49,710,597
<SHARES-COMMON-STOCK> 1,648,775
<SHARES-COMMON-PRIOR> 1,438,991
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 44,554
<ACCUMULATED-NET-GAINS> 1,026,972
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,811,285
<NET-ASSETS> 53,504,300
<DIVIDEND-INCOME> 423,164
<INTEREST-INCOME> 50,816
<OTHER-INCOME> 0
<EXPENSES-NET> 459,137
<NET-INVESTMENT-INCOME> 14,843
<REALIZED-GAINS-CURRENT> 1,193,059
<APPREC-INCREASE-CURRENT> 7,201,431
<NET-CHANGE-FROM-OPS> 8,409,333
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 51,905
<DISTRIBUTIONS-OF-GAINS> 442,734
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 399,976
<NUMBER-OF-SHARES-REDEEMED> (227,455)
<SHARES-REINVESTED> 37,263
<NET-CHANGE-IN-ASSETS> 13,315,602
<ACCUMULATED-NII-PRIOR> 129,481
<ACCUMULATED-GAINS-PRIOR> 897,492
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 190,458
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 463,161
<AVERAGE-NET-ASSETS> 19,704,587
<PER-SHARE-NAV-BEGIN> 11.34
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 2.27
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> (.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.27
<EXPENSE-RATIO> 1.18
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Global Growth and Income Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 50,443,864
<INVESTMENTS-AT-VALUE> 53,250,583
<RECEIVABLES> 988,109
<ASSETS-OTHER> 55,412
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 54,294,104
<PAYABLE-FOR-SECURITIES> 445,256
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 344,548
<TOTAL-LIABILITIES> 789,804
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 49,710,597
<SHARES-COMMON-STOCK> 183,004
<SHARES-COMMON-PRIOR> 157,027
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 44,554
<ACCUMULATED-NET-GAINS> 1,026,972
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,811,285
<NET-ASSETS> 53,504,300
<DIVIDEND-INCOME> 423,164
<INTEREST-INCOME> 50,816
<OTHER-INCOME> 0
<EXPENSES-NET> 459,137
<NET-INVESTMENT-INCOME> 14,843
<REALIZED-GAINS-CURRENT> 1,193,059
<APPREC-INCREASE-CURRENT> 7,201,431
<NET-CHANGE-FROM-OPS> 8,409,333
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6,805
<DISTRIBUTIONS-OF-GAINS> 48,134
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 53,668
<NUMBER-OF-SHARES-REDEEMED> (32,002)
<SHARES-REINVESTED> 4,311
<NET-CHANGE-IN-ASSETS> 13,315,602
<ACCUMULATED-NII-PRIOR> 129,481
<ACCUMULATED-GAINS-PRIOR> 897,492
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 190,458
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 463,161
<AVERAGE-NET-ASSETS> 2,133,444
<PER-SHARE-NAV-BEGIN> 11.35
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 2.31
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> (.29)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.32
<EXPENSE-RATIO> 1.05
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam Balanced Fund
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 3,288,862
<INVESTMENTS-AT-VALUE> 4,033,823
<RECEIVABLES> 89,858
<ASSETS-OTHER> 8,431
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,132,112
<PAYABLE-FOR-SECURITIES> 210,303
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 21,073
<TOTAL-LIABILITIES> 231,376
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,937,496
<SHARES-COMMON-STOCK> 311,976
<SHARES-COMMON-PRIOR> 264,044
<ACCUMULATED-NII-CURRENT> 18,383
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 199,826
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 745,031
<NET-ASSETS> 3,900,736
<DIVIDEND-INCOME> 5,193
<INTEREST-INCOME> 44,628
<OTHER-INCOME> 0
<EXPENSES-NET> 10,287
<NET-INVESTMENT-INCOME> 39,534
<REALIZED-GAINS-CURRENT> 203,132
<APPREC-INCREASE-CURRENT> 365,117
<NET-CHANGE-FROM-OPS> 607,783
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (58,593)
<DISTRIBUTIONS-OF-GAINS> (357,149)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,498
<NUMBER-OF-SHARES-REDEEMED> (499)
<SHARES-REINVESTED> 35,933
<NET-CHANGE-IN-ASSETS> 753,295
<ACCUMULATED-NII-PRIOR> 37,442
<ACCUMULATED-GAINS-PRIOR> 353,843
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 11,367
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12,772
<AVERAGE-NET-ASSETS> 3,507,076
<PER-SHARE-NAV-BEGIN> 11.92
<PER-SHARE-NII> .14
<PER-SHARE-GAIN-APPREC> 2.00
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> (1.34)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.50
<EXPENSE-RATIO> .36
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam International New Opportunities Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 1,369,401,384
<INVESTMENTS-AT-VALUE> 1,731,446,534
<RECEIVABLES> 20,964,805
<ASSETS-OTHER> 26,722,927
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,779,134,266
<PAYABLE-FOR-SECURITIES> 13,154,104
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 29,181,492
<TOTAL-LIABILITIES> 42,335,596
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,436,406,777
<SHARES-COMMON-STOCK> 53,134,260
<SHARES-COMMON-PRIOR> 58,327,849
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 6,906,680
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 55,371,485
<ACCUM-APPREC-OR-DEPREC> 362,670,058
<NET-ASSETS> 1,736,798,670
<DIVIDEND-INCOME> 9,450,071
<INTEREST-INCOME> 490,142
<OTHER-INCOME> 0
<EXPENSES-NET> 16,846,893
<NET-INVESTMENT-INCOME> (6,906,680)
<REALIZED-GAINS-CURRENT> 64,190,202
<APPREC-INCREASE-CURRENT> 349,669,157
<NET-CHANGE-FROM-OPS> 406,952,679
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 47,233,293
<NUMBER-OF-SHARES-REDEEMED> (52,416,882)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 238,624,274
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (119,561,687)
<GROSS-ADVISORY-FEES> 9,159,901
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,974,027
<AVERAGE-NET-ASSETS> 705,951,392
<PER-SHARE-NAV-BEGIN> 10.81
<PER-SHARE-NII> (.03)
<PER-SHARE-GAIN-APPREC> 3.07
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.85
<EXPENSE-RATIO> .81
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam International New Opportunities Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 1,369,401,384
<INVESTMENTS-AT-VALUE> 1,731,446,534
<RECEIVABLES> 20,964,805
<ASSETS-OTHER> 26,722,927
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,779,134,266
<PAYABLE-FOR-SECURITIES> 13,154,104
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 29,181,492
<TOTAL-LIABILITIES> 42,335,596
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,436,406,777
<SHARES-COMMON-STOCK> 68,459,628
<SHARES-COMMON-PRIOR> 75,789,214
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 6,906,680
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 55,371,485
<ACCUM-APPREC-OR-DEPREC> 362,670,058
<NET-ASSETS> 1,736,798,670
<DIVIDEND-INCOME> 9,450,071
<INTEREST-INCOME> 490,142
<OTHER-INCOME> 0
<EXPENSES-NET> 16,846,893
<NET-INVESTMENT-INCOME> (6,906,680)
<REALIZED-GAINS-CURRENT> 64,190,202
<APPREC-INCREASE-CURRENT> 349,669,157
<NET-CHANGE-FROM-OPS> 406,952,679
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,021,265
<NUMBER-OF-SHARES-REDEEMED> (12,350,851)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 238,624,274
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (119,561,687)
<GROSS-ADVISORY-FEES> 9,159,901
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,974,027
<AVERAGE-NET-ASSETS> 882,107,259
<PER-SHARE-NAV-BEGIN> 10.61
<PER-SHARE-NII> (.08)
<PER-SHARE-GAIN-APPREC> 3.00
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.53
<EXPENSE-RATIO> 1.19
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam International New Opportunities Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 1,369,401,384
<INVESTMENTS-AT-VALUE> 1,731,446,534
<RECEIVABLES> 20,964,805
<ASSETS-OTHER> 26,722,927
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,779,134,266
<PAYABLE-FOR-SECURITIES> 13,154,104
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 29,181,492
<TOTAL-LIABILITIES> 42,335,596
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,436,406,777
<SHARES-COMMON-STOCK> 83,465
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 6,906,680
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 55,371,485
<ACCUM-APPREC-OR-DEPREC> 362,670,058
<NET-ASSETS> 1,736,798,670
<DIVIDEND-INCOME> 9,450,071
<INTEREST-INCOME> 490,142
<OTHER-INCOME> 0
<EXPENSES-NET> 16,846,893
<NET-INVESTMENT-INCOME> (6,906,680)
<REALIZED-GAINS-CURRENT> 64,190,202
<APPREC-INCREASE-CURRENT> 349,669,157
<NET-CHANGE-FROM-OPS> 406,952,679
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 151,748
<NUMBER-OF-SHARES-REDEEMED> (68,283)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 238,624,274
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (119,561,687)
<GROSS-ADVISORY-FEES> 9,159,901
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,974,027
<AVERAGE-NET-ASSETS> 634,378
<PER-SHARE-NAV-BEGIN> 13.82
<PER-SHARE-NII> (.02)
<PER-SHARE-GAIN-APPREC> .04
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.84
<EXPENSE-RATIO> .39
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
Putnam International New Opportunities Fund
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> CLASS M
<S> <C>
<PERIOD-TYPE> SEMI
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 1,369,401,384
<INVESTMENTS-AT-VALUE> 1,731,446,534
<RECEIVABLES> 20,964,805
<ASSETS-OTHER> 26,722,927
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,779,134,266
<PAYABLE-FOR-SECURITIES> 13,154,104
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 29,181,492
<TOTAL-LIABILITIES> 42,335,596
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,436,406,777
<SHARES-COMMON-STOCK> 5,369,867
<SHARES-COMMON-PRIOR> 5,984,412
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 6,906,680
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 55,371,485
<ACCUM-APPREC-OR-DEPREC> 362,670,058
<NET-ASSETS> 1,736,798,670
<DIVIDEND-INCOME> 9,450,071
<INTEREST-INCOME> 490,142
<OTHER-INCOME> 0
<EXPENSES-NET> 16,846,893
<NET-INVESTMENT-INCOME> (6,906,680)
<REALIZED-GAINS-CURRENT> 64,190,202
<APPREC-INCREASE-CURRENT> 349,669,157
<NET-CHANGE-FROM-OPS> 406,952,679
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,220,577
<NUMBER-OF-SHARES-REDEEMED> (1,835,122)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 238,624,274
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (119,561,687)
<GROSS-ADVISORY-FEES> 9,159,901
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,974,027
<AVERAGE-NET-ASSETS> 69,943,766
<PER-SHARE-NAV-BEGIN> 10.69
<PER-SHARE-NII> (.07)
<PER-SHARE-GAIN-APPREC> 3.04
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.66
<EXPENSE-RATIO> 1.06
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
