<TABLE> <S> <C>

<PAGE>
 
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the 
Statement of Assets and Liabilities at March 31, 1998 and the Statement of
Operations from January 1, 1998 to March 31, 1998 and is qualified in its 
entirety by reference to such financial statements.
</LEGEND>
       
<S>                             <C>
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                        1,753,001
<INVESTMENTS-AT-VALUE>                       1,751,606
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                  14,440
<OTHER-ITEMS-ASSETS>                           302,676
<TOTAL-ASSETS>                               2,070,117
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       29,579
<TOTAL-LIABILITIES>                             29,579
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     2,083,290
<SHARES-COMMON-STOCK>                        2,210,434
<SHARES-COMMON-PRIOR>                        2,210,434
<ACCUMULATED-NII-CURRENT>                       24,979
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (1,395)
<NET-ASSETS>                                 2,040,538
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               24,979
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  19,420
<NET-INVESTMENT-INCOME>                          4,169
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                      (1,395)
<NET-CHANGE-FROM-OPS>                            4,169
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           4,169
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           10,000
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 19,420
<AVERAGE-NET-ASSETS>                         2,038,454
<PER-SHARE-NAV-BEGIN>                              .92
<PER-SHARE-NII>                                    .00
<PER-SHARE-GAIN-APPREC>                            .00
<PER-SHARE-DIVIDEND>                               .00
<PER-SHARE-DISTRIBUTIONS>                          .00
<RETURNS-OF-CAPITAL>                               .00
<PER-SHARE-NAV-END>                                .92
<EXPENSE-RATIO>                                    .01
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>