<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000808490
<NAME> VARIABLE INVESTORS SERIES TRUST
<SERIES>
   <NUMBER> 8
   <NAME> SMALL CAP GROWTH PORTFOLIO
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                         14863777
<INVESTMENTS-AT-VALUE>                        17715664
<RECEIVABLES>                                   152073
<ASSETS-OTHER>                                    2668
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                17870405
<PAYABLE-FOR-SECURITIES>                        181129
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       133461
<TOTAL-LIABILITIES>                             314590
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      15202432
<SHARES-COMMON-STOCK>                          1096625
<SHARES-COMMON-PRIOR>                           860011
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         (70829)
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                      (427675)
<ACCUM-APPREC-OR-DEPREC>                       2851887
<NET-ASSETS>                                  17555815
<DIVIDEND-INCOME>                                 7773
<INTEREST-INCOME>                                18869
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   97471
<NET-INVESTMENT-INCOME>                        (70829)
<REALIZED-GAINS-CURRENT>                      (422377)
<APPREC-INCREASE-CURRENT>                       846662
<NET-CHANGE-FROM-OPS>                           353456
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         482789
<NUMBER-OF-SHARES-REDEEMED>                     246175
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         3752706
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                      (5298)
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 130003
<AVERAGE-NET-ASSETS>                          14562639
<PER-SHARE-NAV-BEGIN>                           16.050
<PER-SHARE-NII>                                (0.065)
<PER-SHARE-GAIN-APPREC>                          0.024
<PER-SHARE-DIVIDEND>                             0.000
<PER-SHARE-DISTRIBUTIONS>                        0.000
<RETURNS-OF-CAPITAL>                             0.000
<PER-SHARE-NAV-END>                             16.009
<EXPENSE-RATIO>                                   1.35
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>