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> 2
   <NAME> SMALL CAP FINANCIAL
<MULTIPLIER> 1

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          OCT-31-2000
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<PERIOD-END>                               OCT-31-2000
<INVESTMENTS-AT-COST>                       44,490,005
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<SENIOR-LONG-TERM-DEBT>                              0
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       34,344
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<ACCUMULATED-GAINS-PRIOR>                  (3,209,187)
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<EXPENSE-RATIO>                                  1.900


</TABLE>


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