<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001026298
<NAME> WARBURG PINCUS SMALL COMPANY GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 37758233
<INVESTMENTS-AT-VALUE> 36056644
<RECEIVABLES> 276818
<ASSETS-OTHER> 19650
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 36353112
<PAYABLE-FOR-SECURITIES> 232911
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 70987
<TOTAL-LIABILITIES> 303898
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35582598
<SHARES-COMMON-STOCK> 1524660
<SHARES-COMMON-PRIOR> 543516
<ACCUMULATED-NII-CURRENT> (96528)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2264732
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1701588)
<NET-ASSETS> 36049214
<DIVIDEND-INCOME> 1636
<INTEREST-INCOME> 71800
<OTHER-INCOME> 0
<EXPENSES-NET> (169964)
<NET-INVESTMENT-INCOME> (96528)
<REALIZED-GAINS-CURRENT> 2348411
<APPREC-INCREASE-CURRENT> (3698987)
<NET-CHANGE-FROM-OPS> (1447104)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (393861)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 69430718
<NUMBER-OF-SHARES-REDEEMED> (40911375)
<SHARES-REINVESTED> 350461
<NET-CHANGE-IN-ASSETS> 27028839
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 310182
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 121403
<INTEREST-EXPENSE> 669
<GROSS-EXPENSE> 250258
<AVERAGE-NET-ASSETS> 24413894
<PER-SHARE-NAV-BEGIN> 16.60
<PER-SHARE-NII> (.06)
<PER-SHARE-GAIN-APPREC> 7.74
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.64)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.64
<EXPENSE-RATIO> 1.43
</TABLE>
