FBR FAMILY OF FUNDS
NSAR-B, EX-27, 2000-12-29
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001015712
<NAME> FBR FAMILY OF FUNDS
<SERIES>
   <NUMBER> 4
   <NAME> REALTY GROWTH
<MULTIPLIER> 1

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          OCT-31-2000
<PERIOD-START>                             NOV-01-1999
<PERIOD-END>                               OCT-31-2000
<INVESTMENTS-AT-COST>                        1,612,632
<INVESTMENTS-AT-VALUE>                       1,449,047
<RECEIVABLES>                                   33,328
<ASSETS-OTHER>                                   7,905
<OTHER-ITEMS-ASSETS>                               434
<TOTAL-ASSETS>                               1,490,714
<PAYABLE-FOR-SECURITIES>                         5,702
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       43,080
<TOTAL-LIABILITIES>                             48,782
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     2,383,861
<SHARES-COMMON-STOCK>                          173,105
<SHARES-COMMON-PRIOR>                          191,348
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                         (6,474)
<ACCUMULATED-NET-GAINS>                      (771,870)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     (163,585)
<NET-ASSETS>                                 1,441,932
<DIVIDEND-INCOME>                               85,098
<INTEREST-INCOME>                                2,849
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (30,952)
<NET-INVESTMENT-INCOME>                         56,995
<REALIZED-GAINS-CURRENT>                     (266,395)
<APPREC-INCREASE-CURRENT>                      187,244
<NET-CHANGE-FROM-OPS>                         (22,156)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       64,231
<DISTRIBUTIONS-OF-GAINS>                        03,096
<DISTRIBUTIONS-OTHER>                            9,629
<NUMBER-OF-SHARES-SOLD>                         33,096
<NUMBER-OF-SHARES-REDEEMED>                   (58,890)
<SHARES-REINVESTED>                             7,5510
<NET-CHANGE-IN-ASSETS>                       (252,710)
<ACCUMULATED-NII-PRIOR>                         17,450
<ACCUMULATED-GAINS-PRIOR>                    (524,561)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           15,738
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                205,884
<AVERAGE-NET-ASSETS>                         1,573,868
<PER-SHARE-NAV-BEGIN>                            8.860
<PER-SHARE-NII>                                  0.290
<PER-SHARE-GAIN-APPREC>                        (0.400)
<PER-SHARE-DIVIDEND>                           (0.630)
<PER-SHARE-DISTRIBUTIONS>                        0.000
<RETURNS-OF-CAPITAL>                           (0.060)
<PER-SHARE-NAV-END>                              8.330
<EXPENSE-RATIO>                                  1.970


</TABLE>


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