ORBITEX GROUP OF FUNDS
NSAR-A, 1998-12-30
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<PAGE>      PAGE  1
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<PAGE>      PAGE  3
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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SIGNATURE   MARGARET BENKART                             
TITLE       ASST VICE PRESIDENT 
 


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<NUMBER-OF-SHARES-REDEEMED>                      (267)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                        10465710
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (30284)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            45251
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 204329
<AVERAGE-NET-ASSETS>                            343478
<PER-SHARE-NAV-BEGIN>                            18.23
<PER-SHARE-NII>                                 (0.01)
<PER-SHARE-GAIN-APPREC>                           1.24
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.46
<EXPENSE-RATIO>                                   2.40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001029068
<NAME> ORBITEX GROUP OF FUNDS
<SERIES>
   <NUMBER> 041
   <NAME> ASIAN HIGH YIELD CLASS A SHARES
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1999
<PERIOD-END>                               OCT-31-1998
<INVESTMENTS-AT-COST>                           903000
<INVESTMENTS-AT-VALUE>                          903000
<RECEIVABLES>                                   142660
<ASSETS-OTHER>                                    8563
<OTHER-ITEMS-ASSETS>                             16045
<TOTAL-ASSETS>                                 1070268
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        92969
<TOTAL-LIABILITIES>                              92969
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       2045301
<SHARES-COMMON-STOCK>                           122525
<SHARES-COMMON-PRIOR>                           344640
<ACCUMULATED-NII-CURRENT>                         2780
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1070782)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    977299
<DIVIDEND-INCOME>                               130146
<INTEREST-INCOME>                                 1283
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   21399
<NET-INVESTMENT-INCOME>                         110030
<REALIZED-GAINS-CURRENT>                      (893632)
<APPREC-INCREASE-CURRENT>                        14270
<NET-CHANGE-FROM-OPS>                         (769332)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       133603
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          12879
<NUMBER-OF-SHARES-REDEEMED>                   (245560)
<SHARES-REINVESTED>                              10566
<NET-CHANGE-IN-ASSETS>                         5677834
<ACCUMULATED-NII-PRIOR>                          26364
<ACCUMULATED-GAINS-PRIOR>                     (177150)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            17019
<INTEREST-EXPENSE>                               11796
<GROSS-EXPENSE>                                 178124
<AVERAGE-NET-ASSETS>                           2713066
<PER-SHARE-NAV-BEGIN>                            10.93
<PER-SHARE-NII>                                   0.51
<PER-SHARE-GAIN-APPREC>                         (2.90)
<PER-SHARE-DIVIDEND>                            (0.57)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               7.97
<EXPENSE-RATIO>                                   1.57
<AVG-DEBT-OUTSTANDING>                          337912
<AVG-DEBT-PER-SHARE>                              0.12
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001029068
<NAME> ORBITEX GROUP OF FUNDS
<SERIES>
   <NUMBER> 042
   <NAME> ASIAN HIGH YIELD CLASS B SHARES
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1999
<PERIOD-END>                               OCT-31-1998
<INVESTMENTS-AT-COST>                           903000
<INVESTMENTS-AT-VALUE>                          903000
<RECEIVABLES>                                   142660
<ASSETS-OTHER>                                    8563
<OTHER-ITEMS-ASSETS>                             16045
<TOTAL-ASSETS>                                 1070268
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        92969
<TOTAL-LIABILITIES>                              92969
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       2045301
<SHARES-COMMON-STOCK>                               37
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                         2780
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      (1070782)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    977299
<DIVIDEND-INCOME>                               130146
<INTEREST-INCOME>                                 1283
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   21399
<NET-INVESTMENT-INCOME>                         110030
<REALIZED-GAINS-CURRENT>                      (893632)
<APPREC-INCREASE-CURRENT>                        14270
<NET-CHANGE-FROM-OPS>                         (769332)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           11
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             37
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         5677834
<ACCUMULATED-NII-PRIOR>                          26364
<ACCUMULATED-GAINS-PRIOR>                     (177150)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            17019
<INTEREST-EXPENSE>                               11796
<GROSS-EXPENSE>                                 178124
<AVERAGE-NET-ASSETS>                               293
<PER-SHARE-NAV-BEGIN>                             8.22
<PER-SHARE-NII>                                   0.03
<PER-SHARE-GAIN-APPREC>                           0.02
<PER-SHARE-DIVIDEND>                            (0.31)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               7.96
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                          337912
<AVG-DEBT-PER-SHARE>                              0.12
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001029068
<NAME> ORBITEX GROUP OF FUNDS
<SERIES>
   <NUMBER> 051
   <NAME> GROWTH CLASS A SHARES
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1999
<PERIOD-END>                               OCT-31-1998
<INVESTMENTS-AT-COST>                           886119
<INVESTMENTS-AT-VALUE>                          944974
<RECEIVABLES>                                   213586
<ASSETS-OTHER>                                    6017
<OTHER-ITEMS-ASSETS>                             61190
<TOTAL-ASSETS>                                 1225767
<PAYABLE-FOR-SECURITIES>                         69868
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        85628
<TOTAL-LIABILITIES>                             155496
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        998643
<SHARES-COMMON-STOCK>                            63312
<SHARES-COMMON-PRIOR>                            49674
<ACCUMULATED-NII-CURRENT>                        10942
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           1831
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         58855
<NET-ASSETS>                                   1070271
<DIVIDEND-INCOME>                                 2828
<INTEREST-INCOME>                                 2641
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    7601
<NET-INVESTMENT-INCOME>                         (2132)
<REALIZED-GAINS-CURRENT>                       (40793)
<APPREC-INCREASE-CURRENT>                          269
<NET-CHANGE-FROM-OPS>                          (42656)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          29624
<NUMBER-OF-SHARES-REDEEMED>                    (15986)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          179631
<ACCUMULATED-NII-PRIOR>                          13074
<ACCUMULATED-GAINS-PRIOR>                        42624
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             3350
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 154350
<AVERAGE-NET-ASSETS>                            880267
<PER-SHARE-NAV-BEGIN>                            17.93
<PER-SHARE-NII>                                 (0.09)
<PER-SHARE-GAIN-APPREC>                         (1.18)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.66
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001029068
<NAME> ORBITEX GROUP OF FUNDS
<SERIES>
   <NUMBER> 052
   <NAME> GROWTH CLASS B SHARES
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          APR-30-1999
<PERIOD-END>                               OCT-31-1998
<INVESTMENTS-AT-COST>                           886119
<INVESTMENTS-AT-VALUE>                          944974
<RECEIVABLES>                                   213586
<ASSETS-OTHER>                                    6017
<OTHER-ITEMS-ASSETS>                             61190
<TOTAL-ASSETS>                                 1225767
<PAYABLE-FOR-SECURITIES>                         69868
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        85628
<TOTAL-LIABILITIES>                             155496
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        998643
<SHARES-COMMON-STOCK>                              937
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        10942
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           1831
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         58855
<NET-ASSETS>                                   1070271
<DIVIDEND-INCOME>                                 2828
<INTEREST-INCOME>                                 2641
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    7601
<NET-INVESTMENT-INCOME>                         (2132)
<REALIZED-GAINS-CURRENT>                       (40793)
<APPREC-INCREASE-CURRENT>                          269
<NET-CHANGE-FROM-OPS>                          (42656)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            937
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          179631
<ACCUMULATED-NII-PRIOR>                          13074
<ACCUMULATED-GAINS-PRIOR>                        42624
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             3350
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 154350
<AVERAGE-NET-ASSETS>                             14678
<PER-SHARE-NAV-BEGIN>                            16.46
<PER-SHARE-NII>                                 (0.01)
<PER-SHARE-GAIN-APPREC>                           0.21
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.66
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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