<ARTICLE>                                                        6
 
 <CIK>                                       0000721704
 
 <NAME>                                      FLAGSHIP UTILITY
                                             
                                             INCOME FUND

 <SERIES>
 
 <NUMBER>                                                       013
 
 <NAME>                                      CLASS C
 
 <MULTIPLIER>                                                     1

        
 
                                          
 <PERIOD-TYPE>                               YEAR
 
 <FISCAL-YEAR-END>                           JUN-30-1996
 
 <PERIOD-START>                              JUL-01-1995

 <PERIOD-END>                                JUN-30-1996
 
 <INVESTMENTS-AT-COST>                                   28,637,209
 
 <INVESTMENTS-AT-VALUE>                                  31,301,292
 
 <RECEIVABLES>                                            2,011,401
 
 <ASSETS-OTHER>                                              15,649

 <OTHER-ITEMS-ASSETS>                                             0
 
 <TOTAL-ASSETS>                                          33,328,342
 
 <PAYABLE-FOR-SECURITIES>                                   962,100
 
 <SENIOR-LONG-TERM-DEBT>                                          0

 <OTHER-ITEMS-LIABILITIES>                                1,054,852
 
 <TOTAL-LIABILITIES>                                      2,016,952
 
 <SENIOR-EQUITY>                                                  0
 
 <PAID-IN-CAPITAL-COMMON>                                48,661,604
 
 <SHARES-COMMON-STOCK>                                      568,579

 <SHARES-COMMON-PRIOR>                                      537,415
 
 <ACCUMULATED-NII-CURRENT>                                        0
 
 <OVERDISTRIBUTION-NII>                                           0
 
 <ACCUMULATED-NET-GAINS>                               (20,014,297)

 <OVERDISTRIBUTION-GAINS>                                         0
 
 <ACCUM-APPREC-OR-DEPREC>                                 2,664,083
 
 <NET-ASSETS>                                            31,311,390
 
 <DIVIDEND-INCOME>                                        2,004,164
 
 <INTEREST-INCOME>                                          126,983

 <OTHER-INCOME>                                                   0
 
 <EXPENSES-NET>                                           (316,609)
 
 <NET-INVESTMENT-INCOME>                                  1,814,538
 
 <REALIZED-GAINS-CURRENT>                                   777,426

 <APPREC-INCREASE-CURRENT>                                1,636,281
 
 <NET-CHANGE-FROM-OPS>                                    4,228,245
 
 <EQUALIZATION>                                                   0
 
 <DISTRIBUTIONS-OF-INCOME>                                (318,359)
 
 <DISTRIBUTIONS-OF-GAINS>                                         0

 <DISTRIBUTIONS-OTHER>                                            0
 
 <NUMBER-OF-SHARES-SOLD>                                    140,200
 
 <NUMBER-OF-SHARES-REDEEMED>                              (128,817)
 
 <SHARES-REINVESTED>                                         19,781

 <NET-CHANGE-IN-ASSETS>                                     800,428
 
 <ACCUMULATED-NII-PRIOR>                                          0
 
 <ACCUMULATED-GAINS-PRIOR>                             (44,163,229)
 
 <OVERDISTRIB-NII-PRIOR>                                          0
 
 <OVERDIST-NET-GAINS-PRIOR>                                       0 
 
 <GROSS-ADVISORY-FEES>                                      157,329
 
 <INTEREST-EXPENSE>                                               0
 
 <GROSS-EXPENSE>                                            509,863

 <AVERAGE-NET-ASSETS>                                    31,379,875
 
 <PER-SHARE-NAV-BEGIN>                                        10.24
 
 <PER-SHARE-NII>                                               0.58
 
 <PER-SHARE-GAIN-APPREC>                                       0.84
 
 <PER-SHARE-DIVIDEND>                                        (0.58)

 <PER-SHARE-DISTRIBUTIONS>                                     0.00
 
 <RETURNS-OF-CAPITAL>                                          0.00
 
 <PER-SHARE-NAV-END>                                          11.08
 
 <EXPENSE-RATIO>                                               1.52

 <AVG-DEBT-OUTSTANDING>                                      55,342
 
 <AVG-DEBT-PER-SHARE>                                          0.02