<ARTICLE> 6 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ANNUAL REPORT FOR THE FISCAL YEAR ENDED JUNE 30, 1996 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <CURRENCY> U.S. DOLLARS <PERIOD-TYPE> YEAR <FISCAL-YEAR-END> JUN-30-1996 <PERIOD-START> JUL-03-1995 <PERIOD-END> JUN-30-1996 <EXCHANGE-RATE> 1.0 <INVESTMENTS-AT-COST> 0 <INVESTMENTS-AT-VALUE> 0 <RECEIVABLES> 2,432 <ASSETS-OTHER> 303 <OTHER-ITEMS-ASSETS> 15,395 <TOTAL-ASSETS> 18,130 <PAYABLE-FOR-SECURITIES> 2,124 <SENIOR-LONG-TERM-DEBT> 0 <OTHER-ITEMS-LIABILITIES> 4,646 <TOTAL-LIABILITIES> 6,770 <SENIOR-EQUITY> 0 <PAID-IN-CAPITAL-COMMON> 10,347 <SHARES-COMMON-STOCK> 2,889,399 <SHARES-COMMON-PRIOR> 2,888,824 <ACCUMULATED-NII-CURRENT> 261 <OVERDISTRIBUTION-NII> 0 <ACCUMULATED-NET-GAINS> 0 <OVERDISTRIBUTION-GAINS> 0 <ACCUM-APPREC-OR-DEPREC> 0 <NET-ASSETS> 11,360 <DIVIDEND-INCOME> 0 <INTEREST-INCOME> 0 <OTHER-INCOME> 0 <EXPENSES-NET> 16,995 <NET-INVESTMENT-INCOME> 0 <REALIZED-GAINS-CURRENT> 0 <APPREC-INCREASE-CURRENT> 0 <NET-CHANGE-FROM-OPS> 0 <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> 0 <ACCUMULATED-NII-PRIOR> 0 <ACCUMULATED-GAINS-PRIOR> 0 <OVERDISTRIB-NII-PRIOR> 0 <OVERDIST-NET-GAINS-PRIOR> 0 <GROSS-ADVISORY-FEES> 0 <INTEREST-EXPENSE> 301 <GROSS-EXPENSE> 43,335 <AVERAGE-NET-ASSETS> 11,234 <PER-SHARE-NAV-BEGIN> 0 <PER-SHARE-NII> 0 <PER-SHARE-GAIN-APPREC> 0 <PER-SHARE-DIVIDEND> 0 <PER-SHARE-DISTRIBUTIONS> 0 <RETURNS-OF-CAPITAL> 0 <PER-SHARE-NAV-END> 3.93 <EXPENSE-RATIO> 3.86 <AVG-DEBT-OUTSTANDING> 1,698 <AVG-DEBT-PER-SHARE> .59