WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
MSDW INCOME BUILDER FUND - CLASS B
</LEGEND>
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 310,699,021
<INVESTMENTS-AT-VALUE> 301,789,562
<RECEIVABLES> 6,287,087
<ASSETS-OTHER> 127,950
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 308,204,599
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> (2,990,218)
<TOTAL-LIABILITIES> (2,990,218)
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 331,407,053
<SHARES-COMMON-STOCK> 25,636,418
<SHARES-COMMON-PRIOR> 31,690,765
<ACCUMULATED-NII-CURRENT> 3,309,421
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (20,592,634)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (8,909,459)
<NET-ASSETS> 267,252,983
<DIVIDEND-INCOME> 5,771,661
<INTEREST-INCOME> 5,522,547
<OTHER-INCOME> 0
<EXPENSES-NET> (3,418,700)
<NET-INVESTMENT-INCOME> 7,875,508
<REALIZED-GAINS-CURRENT> (19,015,149)
<APPREC-INCREASE-CURRENT> 11,144,379
<NET-CHANGE-FROM-OPS> 4,738
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,050,626)
<DISTRIBUTIONS-OF-GAINS> (11,062,251)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,227,667
<NUMBER-OF-SHARES-REDEEMED> (8,630,671)
<SHARES-REINVESTED> 1,348,657
<NET-CHANGE-IN-ASSETS> (96,995,900)
<ACCUMULATED-NII-PRIOR> 2,449,140
<ACCUMULATED-GAINS-PRIOR> 11,264,613
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (1,345,023)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (3,418,700)
<AVERAGE-NET-ASSETS> 309,425,493
PER-SHARE-NAV-BEGIN> 10.98
<PER-SHARE-NII> 0.23
<PER-SHARE-GAIN-APPREC> (0.19)
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> (0.38)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.42
<EXPENSE-RATIO> 1.94
</TABLE>
