<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