<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                      178,518,474
<INVESTMENTS-AT-VALUE>                     262,982,625
<RECEIVABLES>                                  456,730
<ASSETS-OTHER>                                  57,576
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             263,496,931
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                  108,978,324
<TOTAL-LIABILITIES>                        108,978,324
<SENIOR-EQUITY>                                  4,761
<PAID-IN-CAPITAL-COMMON>                    67,912,124
<SHARES-COMMON-STOCK>                        4,760,655
<SHARES-COMMON-PRIOR>                        4,300,682
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      2,137,571
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    84,464,151
<NET-ASSETS>                               154,518,607
<DIVIDEND-INCOME>                              540,776
<INTEREST-INCOME>                              814,088
<OTHER-INCOME>                                 101,250
<EXPENSES-NET>                               2,688,365
<NET-INVESTMENT-INCOME>                    (1,232,251)
<REALIZED-GAINS-CURRENT>                   (1,475,666)
<APPREC-INCREASE-CURRENT>                   42,792,687
<NET-CHANGE-FROM-OPS>                       40,084,770
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        459,973
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      40,084,770
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,779,002
<INTEREST-EXPENSE>                             225,773
<GROSS-EXPENSE>                              2,688,365
<AVERAGE-NET-ASSETS>                       128,870,957
<PER-SHARE-NAV-BEGIN>                            24.00
<PER-SHARE-NII>                                 (0.26)
<PER-SHARE-GAIN-APPREC>                           8.72
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              32.46
<EXPENSE-RATIO>                                   2.09
<AVG-DEBT-OUTSTANDING>                       4,443,204
<AVG-DEBT-PER-SHARE>                              0.93
        

</TABLE>