WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

 

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the fund's
semi-annual financial statements, and is qualified in its entirety by reference
to such financial statements.

<CIK> 0000848103
<NAME> NORTH AMERICAN FUND

   <NUMBER> 111
   <NAME> MUNICIPAL BOND FUND

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-2000
<PERIOD-START>                             NOV-01-1999
<PERIOD-END>                               APR-30-2000
<INVESTMENTS-AT-COST>                          9762628
<INVESTMENTS-AT-VALUE>                         9683858
<RECEIVABLES>                                   260035
<ASSETS-OTHER>                                   65487
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                10009380
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        84822
<TOTAL-LIABILITIES>                              84822
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      10101322
<SHARES-COMMON-STOCK>                           395338
<SHARES-COMMON-PRIOR>                           467555
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (97994)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (78770)
<NET-ASSETS>                                   9924558
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               329995
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   86025
<NET-INVESTMENT-INCOME>                         243970
<REALIZED-GAINS-CURRENT>                          2121
<APPREC-INCREASE-CURRENT>                      (90818)
<NET-CHANGE-FROM-OPS>                           155273
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        97960
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          19200
<NUMBER-OF-SHARES-REDEEMED>                      96768
<SHARES-REINVESTED>                               5351
<NET-CHANGE-IN-ASSETS>                       (2637963)
<ACCUMULATED-NII-PRIOR>                          (263)
<ACCUMULATED-GAINS-PRIOR>                     (100115)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            33384
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 125906
<AVERAGE-NET-ASSETS>                          11138141
<PER-SHARE-NAV-BEGIN>                             9.48
<PER-SHARE-NII>                                   0.23
<PER-SHARE-GAIN-APPREC>                         (0.11)
<PER-SHARE-DIVIDEND>                              0.19
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.41
<EXPENSE-RATIO>                                   1.00