<TABLE> <S> <C>

<ARTICLE> 6
       
<S>                             <C>       <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               DEC-31-1998
<INVESTMENTS-AT-COST>                       14,455,755
<INVESTMENTS-AT-VALUE>                      26,911,160
<RECEIVABLES>                                        0
<ASSETS-OTHER>                              27,482,147
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              50,455,526
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      513,998
<TOTAL-LIABILITIES>                            513,998
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    37,505,433
<SHARES-COMMON-STOCK>                        3,810,535
<SHARES-COMMON-PRIOR>                        3,810,535
<ACCUMULATED-NII-CURRENT>                     (69,014)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       (57,414)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     7,194,446
<NET-ASSETS>                                50,455,526
<DIVIDEND-INCOME>                            1,745,969
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,814,983
<NET-INVESTMENT-INCOME>                       (69,014)
<REALIZED-GAINS-CURRENT>                      (57,414)
<APPREC-INCREASE-CURRENT>                    7,194,446
<NET-CHANGE-FROM-OPS>                        7,068,018
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       38,105
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       7,029,913
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        1,325,320
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,814,983
<AVERAGE-NET-ASSETS>                        46,426,572
<PER-SHARE-NAV-BEGIN>                            11.26
<PER-SHARE-NII>                                  (.02)
<PER-SHARE-GAIN-APPREC>                           1.88
<PER-SHARE-DIVIDEND>                               .01
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.11
<EXPENSE-RATIO>                                  3.909
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>