<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808490
<NAME> VARIABLE INVESTORS SERIES TRUST
<SERIES>
   <NUMBER> 1
   <NAME> CASH MANAGEMENT PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                         10213661
<INVESTMENTS-AT-VALUE>                        10213661
<RECEIVABLES>                                    59399
<ASSETS-OTHER>                                     951
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                10274011
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       178288
<TOTAL-LIABILITIES>                             178288
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      10095723
<SHARES-COMMON-STOCK>                         10095723
<SHARES-COMMON-PRIOR>                          8198357
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                  10095723
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               596554
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   74019
<NET-INVESTMENT-INCOME>                         522535
<REALIZED-GAINS-CURRENT>                            65
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                           522600
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       522535
<DISTRIBUTIONS-OF-GAINS>                            53
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       20464576
<NUMBER-OF-SHARES-REDEEMED>                 (19089805)
<SHARES-REINVESTED>                             522595
<NET-CHANGE-IN-ASSETS>                         8198345
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                           (12)
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            49056
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 169475
<AVERAGE-NET-ASSETS>                           9869166
<PER-SHARE-NAV-BEGIN>                            1.000
<PER-SHARE-NII>                                  0.052
<PER-SHARE-GAIN-APPREC>                          0.000
<PER-SHARE-DIVIDEND>                           (0.052)
<PER-SHARE-DISTRIBUTIONS>                        0.000
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                              1.000
<EXPENSE-RATIO>                                   0.75
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>