<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S STATEMENT OF ASSETS & LIABILITIES AS OF SEPTEMBER 31, 1996
(UNAUDITED), AND STATEMENT OF OPERATIONS, STATEMENT OF CHANGES IN NET ASSETS, &
STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED SEPTEMBER 31, 1996 (UNAUDITED), AND
IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH STATEMENT OF ASSETS &
LIABILITIES, STATEMENT OF OPERATIONS, STATEMENT OF CHANGES IN NET ASSETS, AND
STATEMENT OF CASH FLOWS.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                        3,810,445
<INVESTMENTS-AT-VALUE>                       4,150,790
<RECEIVABLES>                                   28,210
<ASSETS-OTHER>                                   5,901
<OTHER-ITEMS-ASSETS>                         4,690,420
<TOTAL-ASSETS>                               8,875,321
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      326,886
<TOTAL-LIABILITIES>                            326,886
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     7,976,773
<SHARES-COMMON-STOCK>                          921,627
<SHARES-COMMON-PRIOR>                          921,627
<ACCUMULATED-NII-CURRENT>                    (143,973)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        375,290
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       340,345
<NET-ASSETS>                                 8,548,434
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               46,758
<OTHER-INCOME>                                  72,887
<EXPENSES-NET>                                 171,697
<NET-INVESTMENT-INCOME>                       (52,052)
<REALIZED-GAINS-CURRENT>                       316,573
<APPREC-INCREASE-CURRENT>                    (234,119)
<NET-CHANGE-FROM-OPS>                           30,402
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                        74,213
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         182,649
<ACCUMULATED-NII-PRIOR>                      (168,039)
<ACCUMULATED-GAINS-PRIOR>                      202,431
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           59,306
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                171,697
<AVERAGE-NET-ASSETS>                         8,570,340
<PER-SHARE-NAV-BEGIN>                             9.32
<PER-SHARE-NII>                                   9.28
<PER-SHARE-GAIN-APPREC>                           0.78
<PER-SHARE-DIVIDEND>                              0.00
<PER-SHARE-DISTRIBUTIONS>                         0.08
<RETURNS-OF-CAPITAL>                              0.00
<PER-SHARE-NAV-END>                               9.28
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>