<ARTICLE> 6 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <INVESTMENTS-AT-COST> 160,721,184 <INVESTMENTS-AT-VALUE> 226,614,537 <RECEIVABLES> 1,445,661 <ASSETS-OTHER> 34,741 <OTHER-ITEMS-ASSETS> 0 <TOTAL-ASSETS> 228,094,939 <PAYABLE-FOR-SECURITIES> 0 <SENIOR-LONG-TERM-DEBT> 0 <OTHER-ITEMS-LIABILITIES> 83,624,187 <TOTAL-LIABILITIES> 83,624,187 <SENIOR-EQUITY> 4,828 <PAID-IN-CAPITAL-COMMON> 78,537,258 <SHARES-COMMON-STOCK> 4,828,492 <SHARES-COMMON-PRIOR> 4,300,682 <ACCUMULATED-NII-CURRENT> 0 <OVERDISTRIBUTION-NII> 0 <ACCUMULATED-NET-GAINS> 35,313 <OVERDISTRIBUTION-GAINS> 0 <ACCUM-APPREC-OR-DEPREC> 65,893,353 <NET-ASSETS> 144,470,752 <DIVIDEND-INCOME> 2,094,177 <INTEREST-INCOME> 1,777,248 <OTHER-INCOME> 141,250 <EXPENSES-NET> 4,934,792 <NET-INVESTMENT-INCOME> (922,117) <REALIZED-GAINS-CURRENT> 7,565,699 <APPREC-INCREASE-CURRENT> 24,221,889 <NET-CHANGE-FROM-OPS> 30,865,471 <EQUALIZATION> 0 <DISTRIBUTIONS-OF-INCOME> 0 <DISTRIBUTIONS-OF-GAINS> 0 <DISTRIBUTIONS-OTHER> 2,380,327 <NUMBER-OF-SHARES-SOLD> 459,973 <NUMBER-OF-SHARES-REDEEMED> 0 <SHARES-REINVESTED> 67,837 <NET-CHANGE-IN-ASSETS> 41,247,444 <ACCUMULATED-NII-PRIOR> 0 <ACCUMULATED-GAINS-PRIOR> 0 <OVERDISTRIB-NII-PRIOR> 0 <OVERDIST-NET-GAINS-PRIOR> 0 <GROSS-ADVISORY-FEES> 3,277,121 <INTEREST-EXPENSE> 429,940 <GROSS-EXPENSE> 4,934,792 <AVERAGE-NET-ASSETS> 123,847,030 <PER-SHARE-NAV-BEGIN> 24.00 <PER-SHARE-NII> (0.19) <PER-SHARE-GAIN-APPREC> 6.71 <PER-SHARE-DIVIDEND> 0 <PER-SHARE-DISTRIBUTIONS> 0 <RETURNS-OF-CAPITAL> (0.50) <PER-SHARE-NAV-END> 29.92 <EXPENSE-RATIO> 3.98 <AVG-DEBT-OUTSTANDING> 4,284,027 <AVG-DEBT-PER-SHARE> 0.89