<ARTICLE> 6
       
                             
<PERIOD-TYPE>                   9-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               SEP-30-1998
<INVESTMENTS-AT-COST>                      196,372,016
<INVESTMENTS-AT-VALUE>                     234,505,036
<RECEIVABLES>                                  777,815
<ASSETS-OTHER>                                  16,424
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             235,300,075
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                  115,131,854
<TOTAL-LIABILITIES>                        115,131,854
<SENIOR-EQUITY>                                  4,828
<PAID-IN-CAPITAL-COMMON>                    77,034,495
<SHARES-COMMON-STOCK>                        4,828,492
<SHARES-COMMON-PRIOR>                        4,828,492
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      4,995,079
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    38,133,819
<NET-ASSETS>                               120,168,221
<DIVIDEND-INCOME>                            1,558,205
<INTEREST-INCOME>                            1,288,824
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               4,252,428
<NET-INVESTMENT-INCOME>                     (1,405,399)
<REALIZED-GAINS-CURRENT>                     4,995,079
<APPREC-INCREASE-CURRENT>                  (27,759,534)
<NET-CHANGE-FROM-OPS>                      (24,169,854)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                      (132,677)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                     (24,302,531)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                        2,125,550
<INTEREST-EXPENSE>                           1,269,206
<GROSS-EXPENSE>                              4,252,428
<AVERAGE-NET-ASSETS>                       132,319,487
<PER-SHARE-NAV-BEGIN>                            29.92
<PER-SHARE-NII>                                 (0.29)
<PER-SHARE-GAIN-APPREC>                         (4.71)
<PER-SHARE-DIVIDEND>                              0.03
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              24.89
<EXPENSE-RATIO>                                   3.21
<AVG-DEBT-OUTSTANDING>                      20,438,919
<AVG-DEBT-PER-SHARE>                              4.23