<TABLE> <S> <C>


<ARTICLE> 6
<CIK> 0000811869
<NAME> THE AAL MUTUAL FUNDS
<SERIES>
   <NUMBER> 8
   <NAME> THE AAL EQUITY INCOME FUND CLASS I
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          APR-30-1998
<PERIOD-START>                             JAN-02-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                        169143915
<INVESTMENTS-AT-VALUE>                       207958344
<RECEIVABLES>                                   490046
<ASSETS-OTHER>                                  310576
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               208758966
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       199646
<TOTAL-LIABILITIES>                             199646
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     156109760
<SHARES-COMMON-STOCK>                           495048
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                       324789
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                       13310342
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      38814429
<NET-ASSETS>                                   7087176
<DIVIDEND-INCOME>                              4342834
<INTEREST-INCOME>                               953977
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 1802457
<NET-INVESTMENT-INCOME>                        3494354
<REALIZED-GAINS-CURRENT>                      19250254
<APPREC-INCREASE-CURRENT>                     24269617
<NET-CHANGE-FROM-OPS>                         47014225
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      (26918)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         494961
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                 87
<NET-CHANGE-IN-ASSETS>                        73867952
<ACCUMULATED-NII-PRIOR>                         447037
<ACCUMULATED-GAINS-PRIOR>                     (353182)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           809233
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1802457
<AVERAGE-NET-ASSETS>                           5077124
<PER-SHARE-NAV-BEGIN>                            13.14
<PER-SHARE-NII>                                   .077
<PER-SHARE-GAIN-APPREC>                          1.160
<PER-SHARE-DIVIDEND>                            (.057)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.32
<EXPENSE-RATIO>                                    .68
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>