NSAR-A

      PAGE  1
000 A000000 12/31/95
000 C000000 0000865177
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 PUTNAM NEW OPPORTUNITIES FUND
001 B000000 811-6128
001 C000000 6172921562
002 A000000 ONE POST OFFICE SQUARE
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 PUTNAM INVESTMENT MANAGEMENT, INC.
008 B000001 A
008 C000001 801-7974
008 D010001 BOSTON
008 D020001 MA
008 D030001 02109
011 A000001 PUTNAM MUTUAL FUNDS CORP
011 B000001 8-5088
011 C010001 BOSTON
011 C020001 MA
011 C030001 02109
012 A000001 PUTNAM INVESTOR SERVICES
012 B000001 84-401299
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 COOPERS & LYBRAND L.L.P.
013 B010001 BOSTON
013 B020001 MA
      PAGE  2
013 B030001 02110
015 A000001 PUTNAM FIDUCIARY TRUST COMPANY
015 B000001 C
015 C010001 BOSTON
015 C020001 MA
015 C030001 02109
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000   93
019 C000000 PUTNAMFUND
020 A000001 PAINEWEBBER INC.
020 B000001 13-2638166
020 C000001    113
020 A000002 SALOMON BROTHERS INC.
020 B000002 13-3082694
020 C000002     76
020 A000003 MERRILL LYNCH, FENNER & SMITH, INC.
020 B000003 13-5674085
020 C000003     76
020 A000004 FIRST BOSTON CO.
020 B000004 13-5659485
020 C000004     67
020 A000005 JEFFERIES & CO.
020 B000005 95-2622900
020 C000005     66
020 A000006 EDWARDS (A.G.) & SONS INC.
020 B000006 43-0895477
020 C000006     54
020 A000007 LEHMAN BROTHERS
020 B000007 13-2518466
020 C000007     53
020 A000008 MORGAN STANLEY INC.
020 B000008 13-2655998
020 C000008     40
020 A000009 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000009 13-2741729
020 C000009     39
020 A000010 GOLDMAN SACHS & CO.
020 B000010 13-2625874
020 C000010     39
021  000000     1269
022 A000001 GOLDMAN SACHS & CO.
022 B000001 13-5108880
022 C000001     90735
022 D000001     36341
022 A000002 MORGAN STANLEY INC.
022 B000002 13-2655998
022 C000002    106552
022 D000002      5932
022 A000003 BROWN (ALEX) & SONS, INC.
      PAGE  3
022 B000003 52-0256630
022 C000003     81897
022 D000003      5617
022 A000004 STEPHENS INC.
022 B000004 71-0211822
022 C000004     77097
022 D000004      2267
022 A000005 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000005 13-5674085
022 C000005     60790
022 D000005         0
022 A000006 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000006 13-2741729
022 C000006     44869
022 D000006      7418
022 A000007 HAMBRECHT & QUIST, INC.
022 B000007 94-2856935
022 C000007     47741
022 D000007      3524
022 A000008 SMITH, BARNEY, HARRIS, UPHAM & CO.
022 B000008 13-1912900
022 C000008     47373
022 D000008      1974
022 A000009 MONTGOMERY SECURITIES
022 B000009 94-1701676
022 C000009     40048
022 D000009      8777
022 A000010 HERZOG, HEINE, GEDULD INC.
022 B000010 13-1955436
022 C000010     34662
022 D000010     10447
023 C000000    1132188
023 D000000     180606
024  000000 N
025 D000001       0
025 D000002       0
025 D000003       0
025 D000004       0
025 D000005       0
025 D000006       0
025 D000007       0
025 D000008       0
026 A000000 Y
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
026 H000000 N
      PAGE  4
027  000000 Y
028 A010000    255357
028 A020000         0
028 A030000         0
028 A040000    107943
028 B010000    346476
028 B020000         0
028 B030000         0
028 B040000    141902
028 C010000    340031
028 C020000         0
028 C030000         0
028 C040000    127681
028 D010000    374380
028 D020000         0
028 D030000         0
028 D040000    203195
028 E010000    442979
028 E020000         0
028 E030000         0
028 E040000    154020
028 F010000    492083
028 F020000         0
028 F030000         0
028 F040000    165897
028 G010000   2251306
028 G020000         0
028 G030000         0
028 G040000    900638
028 H000000   2251306
029  000000 Y
030 A000000  19914
030 B000000  5.75
030 C000000  3.50
031 A000000   3008
031 B000000      0
032  000000  16906
033  000000      0
034  000000 Y
035  000000    882
036 A000000 N
036 B000000      0
037  000000 N
038  000000      0
039  000000 N
040  000000 Y
041  000000 Y
042 A000000   0
042 B000000   0
042 C000000 100
042 D000000   0
      PAGE  5
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000   0
043  000000   9705
044  000000      0
045  000000 Y
046  000000 N
047  000000 Y
048  000000  0.000
048 A010000      500
048 A020000 0.700
048 B010000      500
048 B020000 0.600
048 C010000      500
048 C020000 0.550
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000     1500
048 K020000 0.500
049  000000 N
050  000000 N
051  000000 N
052  000000 N
053 A000000 N
054 A000000 Y
054 B000000 Y
054 C000000 Y
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 N
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 Y
054 M000000 Y
054 N000000 N
      PAGE  6
054 O000000 Y
055 A000000 N
055 B000000 N
056  000000 N
057  000000 N
058 A000000 N
059  000000 Y
060 A000000 Y
060 B000000 Y
061  000000      500
062 A000000 N
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
062 E000000   0.0
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   0.0
062 M000000   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000   0.0
062 Q000000   0.0
062 R000000   0.0
063 A000000   0
063 B000000  0.0
066 A000000 Y
066 B000000 N
066 C000000 Y
066 D000000 N
066 E000000 N
066 F000000 N
066 G000000 N
067  000000 N
068 A000000 N
068 B000000 N
069  000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 N
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 N
070 E020000 N
      PAGE  7
070 F010000 Y
070 F020000 N
070 G010000 N
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 N
070 J020000 N
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000   1612775
071 B000000    394275
071 C000000   3074801
071 D000000   13
072 A000000  6
072 B000000     7062
072 C000000     1941
072 D000000        0
072 E000000        0
072 F000000     9284
072 G000000       25
072 H000000        0
072 I000000     2850
072 J000000     1410
072 K000000      336
072 L000000      145
072 M000000       27
072 N000000      472
072 O000000        0
072 P000000        0
072 Q000000        0
072 R000000       42
072 S000000       24
072 T000000     9705
072 U000000        0
      PAGE  8
072 V000000        0
072 W000000      106
072 X000000    24426
072 Y000000        0
072 Z000000   -15423
072AA000000    17979
072BB000000        0
072CC010000   695612
072CC020000        0
072DD010000        0
072DD020000        0
072EE000000        0
073 A010000   0.0000
073 A020000   0.0000
073 B000000   0.0000
073 C000000   0.0100
074 A000000        0
074 B000000    17339
074 C000000   253995
074 D000000        0
074 E000000    18112
074 F000000  4136174
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000    64682
074 K000000        0
074 L000000     4207
074 M000000       12
074 N000000  4494521
074 O000000    30859
074 P000000    10072
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000     8274
074 S000000        0
074 T000000  4445316
074 U010000    64626
074 U020000    53334
074 V010000    36.95
074 V020000    36.20
074 W000000   0.0000
074 X000000   417615
074 Y000000        0
075 A000000        0
075 B000000  3337942
076  000000     0.00
077 A000000 N
078  000000 N
      PAGE  9
080 A000000 FEDERAL INSURANCE CO
080 B000000 NATIONAL FIRE UNION INSURANCE CO.
080 C000000       50
081 A000000 Y
081 B000000  92
082 A000000 N
082 B000000        0
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
SIGNATURE   PAUL BUCAVALAS                               
TITLE       VICE PRESIDENT      
 

EX-27.CLASSA

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

 

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 
Putnam New Opportunities Fund Class A AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

       
                                   
<PERIOD-TYPE>                         SEMI
<FISCAL-YEAR-END>	JUN-30-1995
<PERIOD-END>	DEC-31-1995
<INVESTMENTS-AT-COST> 3,179,374,126  
<INVESTMENTS-AT-VALUE>	4,425,620,657
<RECEIVABLES>	68,899,910
<ASSETS-OTHER>	114
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	4,494,520,681
<PAYABLE-FOR-SECURITIES>	30,858,898
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	18,345,896
<TOTAL-LIABILITIES>	49,204,794
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	3,211,188,029
<SHARES-COMMON-STOCK>	64,626,150
<SHARES-COMMON-PRIOR>	45,358,780
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(15,425,270)
<ACCUMULATED-NET-GAINS>	3,306,951
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	1,246,246,177
<NET-ASSETS>	4,445,315,887
<DIVIDEND-INCOME>	1,940,841
<INTEREST-INCOME>	7,062,234
<OTHER-INCOME>	0
<EXPENSES-NET>	24,425,685
<NET-INVESTMENT-INCOME>	(15,422,610)
<REALIZED-GAINS-CURRENT>	17,979,235
<APPREC-INCREASE-CURRENT>	695,612,242
<NET-CHANGE-FROM-OPS>	698,168,867
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	39,772,714
<NUMBER-OF-SHARES-REDEEMED>	(20,505,346)
<SHARES-REINVESTED>	2
<NET-CHANGE-IN-ASSETS>	2,049,510,925
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(2,660)
<OVERDIST-NET-GAINS-PRIOR>	(14,672,284)
<GROSS-ADVISORY-FEES>	9,284,375
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	24,425,685
<AVERAGE-NET-ASSETS>	1,817,532,849
<PER-SHARE-NAV-BEGIN>	29.58
<PER-SHARE-NII>	(.10)
<PER-SHARE-GAIN-APPREC>	7.47
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	0
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	36.95
<EXPENSE-RATIO>	.57
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0
        	


 

EX-27.CLASSB

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

 

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 
Putnam New Opportunities Fund Class B AND IS QUALIFIED IN ITS ENTIRETY 
BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

       
                                   
<PERIOD-TYPE>                         SEMI
<FISCAL-YEAR-END>	JUN-30-1995
<PERIOD-END>	DEC-31-1995
<INVESTMENTS-AT-COST>        3,179,374,126
<INVESTMENTS-AT-VALUE>	4,425,620,657
<RECEIVABLES>	68,899,910
<ASSETS-OTHER>	114
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	4,494,520,681
<PAYABLE-FOR-SECURITIES>	30,858,898
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	18,345,896
<TOTAL-LIABILITIES>	49,204,794
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	3,211,188,029
<SHARES-COMMON-STOCK>	53,333,705
<SHARES-COMMON-PRIOR>	34,831,155
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(15,425,270)
<ACCUMULATED-NET-GAINS>	3,306,951
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	1,246,246,177
<NET-ASSETS>	4,445,315,887
<DIVIDEND-INCOME>	1,940,841
<INTEREST-INCOME>	7,062,234
<OTHER-INCOME>	0
<EXPENSES-NET>	24,425,685
<NET-INVESTMENT-INCOME>	(15,422,610)
<REALIZED-GAINS-CURRENT>	17,979,235
<APPREC-INCREASE-CURRENT>	695,612,242
<NET-CHANGE-FROM-OPS>	698,168,867
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	24,234,811
<NUMBER-OF-SHARES-REDEEMED>	(5,732,292)
<SHARES-REINVESTED>	31
<NET-CHANGE-IN-ASSETS>	2,049,510,925
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(2,660)
<OVERDIST-NET-GAINS-PRIOR>	(14,672,284)
<GROSS-ADVISORY-FEES>	9,284,375
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	24,425,685
<AVERAGE-NET-ASSETS>	1,443,100,072
<PER-SHARE-NAV-BEGIN>	29.09
<PER-SHARE-NII>	(.16)
<PER-SHARE-GAIN-APPREC>	7.27
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	0
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	36.20
<EXPENSE-RATIO>	.95
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0
        	


 

EX-27.CLASSM

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

 

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 
Putnam New Opportunities Fund Class M 
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

       
                                   
<PERIOD-TYPE>                         SEMI
<FISCAL-YEAR-END>	JUN-30-1995
<PERIOD-END>	DEC-31-1995
<INVESTMENTS-AT-COST>        3,179,374,126  
<INVESTMENTS-AT-VALUE>	4,425,620,657
<RECEIVABLES>	68,899,910
<ASSETS-OTHER>	114
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	4,494,520,681
<PAYABLE-FOR-SECURITIES>	30,858,898
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	18,345,896
<TOTAL-LIABILITIES>	49,204,794
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	3,211,188,029
<SHARES-COMMON-STOCK>	1,770,021
<SHARES-COMMON-PRIOR>	542,592
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(15,425,270)
<ACCUMULATED-NET-GAINS>	3,306,951
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	1,246,246,177
<NET-ASSETS>	4,445,315,887
<DIVIDEND-INCOME>	1,940,841
<INTEREST-INCOME>	7,062,234
<OTHER-INCOME>	0
<EXPENSES-NET>	24,425,685
<NET-INVESTMENT-INCOME>	(15,422,610)
<REALIZED-GAINS-CURRENT>	17,979,235
<APPREC-INCREASE-CURRENT>	695,612,242
<NET-CHANGE-FROM-OPS>	698,168,867
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	1,424,839
<NUMBER-OF-SHARES-REDEEMED>	(197,410)
<SHARES-REINVESTED>	0
<NET-CHANGE-IN-ASSETS>	2,049,510,925
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(2,660)
<OVERDIST-NET-GAINS-PRIOR>	(14,672,284)
<GROSS-ADVISORY-FEES>	9,284,375
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	24,425,685
<AVERAGE-NET-ASSETS>	34,470,573
<PER-SHARE-NAV-BEGIN>	29.51
<PER-SHARE-NII>	(.12)
<PER-SHARE-GAIN-APPREC>	7.37
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	0
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	36.76
<EXPENSE-RATIO>	.84
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0
        	


 

EX-27.CLASSY

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

 

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM 
Putnam New Opportunities Fund Class Y 
AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.

       
                                   
<PERIOD-TYPE>                         SEMI
<FISCAL-YEAR-END>	JUN-30-1995
<PERIOD-END>	DEC-31-1995
<INVESTMENTS-AT-COST>     3,179,374,126  
<INVESTMENTS-AT-VALUE>	4,425,620,657
<RECEIVABLES>	68,899,910
<ASSETS-OTHER>	114
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	4,494,520,681
<PAYABLE-FOR-SECURITIES>	30,858,898
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	18,345,896
<TOTAL-LIABILITIES>	49,204,794
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	3,211,188,029
<SHARES-COMMON-STOCK>	1,662,246
<SHARES-COMMON-PRIOR>	827,326
<ACCUMULATED-NII-CURRENT>	0
<OVERDISTRIBUTION-NII>	(15,425,270)
<ACCUMULATED-NET-GAINS>	3,306,951
<OVERDISTRIBUTION-GAINS>	0
<ACCUM-APPREC-OR-DEPREC>	1,246,246,177
<NET-ASSETS>	4,445,315,887
<DIVIDEND-INCOME>	1,940,841
<INTEREST-INCOME>	7,062,234
<OTHER-INCOME>	0
<EXPENSES-NET>	24,425,685
<NET-INVESTMENT-INCOME>	(15,422,610)
<REALIZED-GAINS-CURRENT>	17,979,235
<APPREC-INCREASE-CURRENT>	695,612,242
<NET-CHANGE-FROM-OPS>	698,168,867
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	0
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	968,448
<NUMBER-OF-SHARES-REDEEMED>	(133,528)
<SHARES-REINVESTED>	0
<NET-CHANGE-IN-ASSETS>	2,049,510,925
<ACCUMULATED-NII-PRIOR>	0
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	(2,660)
<OVERDIST-NET-GAINS-PRIOR>	(14,672,284)
<GROSS-ADVISORY-FEES>	9,284,375
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	24,425,685
<AVERAGE-NET-ASSETS>	42,838,813
<PER-SHARE-NAV-BEGIN>	29.66
<PER-SHARE-NII>	(.08)
<PER-SHARE-GAIN-APPREC>	7.51
<PER-SHARE-DIVIDEND>	0
<PER-SHARE-DISTRIBUTIONS>	0
<RETURNS-OF-CAPITAL>	0
<PER-SHARE-NAV-END>	37.09
<EXPENSE-RATIO>	.45
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0