WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE. <PERIOD TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1999 <PERIOD-END> DEC-31-1999 <INVESTMENTS-AT-COST> 16,653,130 <INVESTMENTS-AT-VALUE> 63,535,651 <RECEIVABLES> 76,852 <ASSETS-OTHER> 1,575,009 <OTHER-ITEMS-ASSETS> 0 <TOTAL-ASSETS> 65,320,768 <PAYABLE-FOR-SECURITIES> 0 <SENIOR-LONG-TERM-DEBT> 0 <OTHER-ITEMS-LIABILITIES> 11,685,963 <TOTAL-LIABILITIES> 11,685,963 <SENIOR-EQUITY> 0 <PAID-IN-CAPITAL-COMMON> 16,159,504 <SHARES-COMMON-STOCK> 9,240,831 <SHARES-COMMON-PRIOR> 10,591,232 <ACCUMULATED-NII-CURRENT> 0 <OVERDISTRIBUTION-NII> 0 <ACCUMULATED-NET-GAINS> (5,192,860) <OVERDISTRIBUTION-GAINS> 0 <ACCUM-APPREC-OR-DEPREC> 45,098,711 <NET-ASSETS> 53,634,805 <DIVIDEND-INCOME> 900 <INTEREST-INCOME> 282,873 <OTHER-INCOME> 3,911 <EXPENSES-NET> 9,924,020 <NET-INVESTMENT-INCOME> (9,636,336) <REALIZED-GAINS-CURRENT> 10,976,714 <APPREC-INCREASE-CURRENT> 36,474,973 <NET-CHANGE-FROM-OPS> 37,081,381 <EQUALIZATION> 0 <DISTRIBUTIONS-OF-INCOME> 0 <DISTRIBUTIONS-OF-GAINS> 3,647,017 <DISTRIBUTIONS-OTHER> 0 <NUMBER-OF-SHARES-SOLD> 0 <NUMBER-OF-SHARES-REDEEMED> 0 <SHARES-REINVESTED> 0 <NET-CHANGE-IN-ASSETS> 31,078,096 <ACCUMULATED-NII-PRIOR> 0 <ACCUMULATED-GAINS-PRIOR> (525,177) <OVERDISTRIB-NII-PRIOR> 0 <OVERDIST-NET-GAINS-PRIOR> 0 <GROSS-ADVISORY-FEES> 0 <INTEREST-EXPENSE> 0 <GROSS-EXPENSE> 0 <AVERAGE-NET-ASSETS> 38,095,757 <PER-SHARE-NAV-BEGIN> 2.13 <PER-SHARE-NII> (.11) <PER-SHARE-GAIN-APPREC> 4.12 <PER-SHARE-DIVIDEND> .35 <PER-SHARE-DISTRIBUTIONS> 0 <RETURNS-OF-CAPITAL> 0 <PER-SHARE-NAV-END> 5.80 <EXPENSE-RATIO> 34.08