<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808490
<NAME> VARIABLE INVESTORS SERIES TRUST
<SERIES>
   <NUMBER> 8
   <NAME> SMALL CAP PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   8-MOS
<FISCAL-YEAR-END>                          DEC-31-1995
<PERIOD-END>                               DEC-31-1995
<INVESTMENTS-AT-COST>                          3189571
<INVESTMENTS-AT-VALUE>                         3604456
<RECEIVABLES>                                   318306
<ASSETS-OTHER>                                      32
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 3922794
<PAYABLE-FOR-SECURITIES>                         36535
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        73157
<TOTAL-LIABILITIES>                             109692
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       3361669
<SHARES-COMMON-STOCK>                           301724
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          36548
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        414885
<NET-ASSETS>                                   3813102
<DIVIDEND-INCOME>                                  598
<INTEREST-INCOME>                                 8333
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   21610
<NET-INVESTMENT-INCOME>                        (12679)
<REALIZED-GAINS-CURRENT>                        148029
<APPREC-INCREASE-CURRENT>                       414885
<NET-CHANGE-FROM-OPS>                           550235
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                         98802
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         504211
<NUMBER-OF-SHARES-REDEEMED>                   (210400)
<SHARES-REINVESTED>                               7913
<NET-CHANGE-IN-ASSETS>                         3813102
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            13610
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 144046
<AVERAGE-NET-ASSETS>                           2414972
<PER-SHARE-NAV-BEGIN>                           10.000
<PER-SHARE-NII>                                (0.042)
<PER-SHARE-GAIN-APPREC>                          3.047
<PER-SHARE-DIVIDEND>                             0.000
<PER-SHARE-DISTRIBUTIONS>                      (0.367)
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             12.638
<EXPENSE-RATIO>                                   1.35
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>