<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from
form N-SAR for the period ended May 31, 2000
and is qualified in its entirety by reference to
such financial statements.


   <NUMBER> 01
   <NAME>  Hyperion 2002 Term Trust Fund

                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          May-31-2000
<PERIOD-END>                               May-31-2000
<INVESTMENTS-AT-COST>                     404,977,971
<INVESTMENTS-AT-VALUE>                    390,716,209
<RECEIVABLES>                               3,029,666
<ASSETS-OTHER>                                 87,172
<OTHER-ITEMS-ASSETS>                              484
<TOTAL-ASSETS>                            393,833,531
<PAYABLE-FOR-SECURITIES>                  127,300,126
<SENIOR-LONG-TERM-DEBT>                             0
<OTHER-ITEMS-LIABILITIES>                     789,355
<TOTAL-LIABILITIES>                       128,673,249
<SENIOR-EQUITY>                                     0
<PAID-IN-CAPITAL-COMMON>                  294,036,513
<SHARES-COMMON-STOCK>                      30,446,839
<SHARES-COMMON-PRIOR>                      30,446,839
<ACCUMULATED-NII-CURRENT>                  11,521,512
<OVERDISTRIBUTION-NII>                              0
<ACCUMULATED-NET-GAINS>                   (28,656,436)
<OVERDISTRIBUTION-GAINS>                            0
<ACCUM-APPREC-OR-DEPREC>                  (11,741,307)
<NET-ASSETS>                              265,160,282
<DIVIDEND-INCOME>                                   0
<INTEREST-INCOME>                          25,043,971
<OTHER-INCOME>                                      0
<EXPENSES-NET>                            (12,204,721)
<NET-INVESTMENT-INCOME>                    12,839,250
<REALIZED-GAINS-CURRENT>                      626,417
<APPREC-INCREASE-CURRENT>                 (10,323,833)
<NET-CHANGE-FROM-OPS>                       3,141,834
<EQUALIZATION>                                      0
<DISTRIBUTIONS-OF-INCOME>                 (12,559,688)
<DISTRIBUTIONS-OF-GAINS>                            0
<DISTRIBUTIONS-OTHER>                               0
<NUMBER-OF-SHARES-SOLD>                             0
<NUMBER-OF-SHARES-REDEEMED>                         0
<SHARES-REINVESTED>                                 0
<NET-CHANGE-IN-ASSETS>                     (9,417,854)
<ACCUMULATED-NII-PRIOR>                     9,548,882
<ACCUMULATED-GAINS-PRIOR>                 (28,687,379)
<OVERDISTRIB-NII-PRIOR>                             0
<OVERDIST-NET-GAINS-PRIOR>                          0
<GROSS-ADVISORY-FEES>                       1,348,264
<INTEREST-EXPENSE>                          4,789,519
<GROSS-EXPENSE>                            12,204,721
<AVERAGE-NET-ASSETS>                      269,649,808
<PER-SHARE-NAV-BEGIN>                            9.02
<PER-SHARE-NII>                                  0.41
<PER-SHARE-GAIN-APPREC>                         (0.31)
<PER-SHARE-DIVIDEND>                            (0.41)
<PER-SHARE-DISTRIBUTIONS>                        0.00
<RETURNS-OF-CAPITAL>                                0
<PER-SHARE-NAV-END>                              8.71
<EXPENSE-RATIO>                                  4.53