WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808490
<NAME> HIGH INCOME BOND PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                         12297768
<INVESTMENTS-AT-VALUE>                        12724942
<RECEIVABLES>                                   360261
<ASSETS-OTHER>                                     369
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                13085572
<PAYABLE-FOR-SECURITIES>                        166718     
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        84343
<TOTAL-LIABILITIES>                             251061
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      12804330
<SHARES-COMMON-STOCK>                          1399203
<SHARES-COMMON-PRIOR>                          1020302
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         (44464)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                      (352529)
<ACCUM-APPREC-OR-DEPREC>                        427174
<NET-ASSETS>                                  12834511
<DIVIDEND-INCOME>                                 3756
<INTEREST-INCOME>                               872619
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  113106
<NET-INVESTMENT-INCOME>                         763269
<REALIZED-GAINS-CURRENT>                        284309
<APPREC-INCREASE-CURRENT>                       287545
<NET-CHANGE-FROM-OPS>                          1335123
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                     (823554)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         980079
<NUMBER-OF-SHARES-REDEEMED>                     690441
<SHARES-REINVESTED>                              89263
<NET-CHANGE-IN-ASSETS>                         4070671
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                        (14589)
<OVERDIST-NET-GAINS-PRIOR>                    (606546)
<GROSS-ADVISORY-FEES>                            67009
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 190823
<AVERAGE-NET-ASSETS>                           9572850
<PER-SHARE-NAV-BEGIN>                            8.589
<PER-SHARE-NII>                                   .596
<PER-SHARE-GAIN-APPREC>                           .624
<PER-SHARE-DIVIDEND>                            (.636)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              9.173
<EXPENSE-RATIO>                                   1.18
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>