WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001039826
<NAME> FLAG INVESTORS FUNDS, INC.
<SERIES>
<NUMBER> 4
<NAME> FLAG INVESTORS TOP 50 US
<S> <C> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS 12-MOS
<FISCAL-YEAR-END> AUG-31-2000 AUG-31-2000 AUG-31-2000
<PERIOD-END> AUG-31-2000 AUG-31-2000 AUG-31-2000
<INVESTMENTS-AT-COST> 15601366 0 0
<INVESTMENTS-AT-VALUE> 15601366 0 0
<RECEIVABLES> 90412 0 0
<ASSETS-OTHER> 0 0 0
<OTHER-ITEMS-ASSETS> 5240 0 0
<TOTAL-ASSETS> 15697018 0 0
<PAYABLE-FOR-SECURITIES> 0 0 0
<SENIOR-LONG-TERM-DEBT> 0 0 0
<OTHER-ITEMS-LIABILITIES> 57558 0 0
<TOTAL-LIABILITIES> 57558 0 0
<SENIOR-EQUITY> 0 0 0
<PAID-IN-CAPITAL-COMMON> 12940431 0 0
<SHARES-COMMON-STOCK> 482646 239404 13414
<SHARES-COMMON-PRIOR> 188359 179021 8050
<ACCUMULATED-NII-CURRENT> 0 0 0
<OVERDISTRIBUTION-NII> 0 0 0
<ACCUMULATED-NET-GAINS> (136688) 0 0
<OVERDISTRIBUTION-GAINS> 0 0 0
<ACCUM-APPREC-OR-DEPREC> 2835717 0 0
<NET-ASSETS> 15639460 0 0
<DIVIDEND-INCOME> 45889 0 0
<INTEREST-INCOME> 11314 0 0
<OTHER-INCOME> 0 0 0
<EXPENSES-NET> 140296 0 0
<NET-INVESTMENT-INCOME> (83093) 0 0
<REALIZED-GAINS-CURRENT> 389428 0 0
<APPREC-INCREASE-CURRENT> 1549421 0 0
<NET-CHANGE-FROM-OPS> 1855756 0 0
<EQUALIZATION> 0 0 0
<DISTRIBUTIONS-OF-INCOME> 0 0 0
<DISTRIBUTIONS-OF-GAINS> 0 0 0
<DISTRIBUTIONS-OTHER> 0 0 0
<NUMBER-OF-SHARES-SOLD> 385039 115380 5723
<NUMBER-OF-SHARES-REDEEMED> (90752) (54997) (358)
<SHARES-REINVESTED> 0 0 0
<NET-CHANGE-IN-ASSETS> 9370811 0 0
<ACCUMULATED-NII-PRIOR> 0 0 0
<ACCUMULATED-GAINS-PRIOR> (188523) 0 0
<OVERDISTRIB-NII-PRIOR> 0 0 0
<OVERDIST-NET-GAINS-PRIOR> 0 0 0
<GROSS-ADVISORY-FEES> 0 0 0
<INTEREST-EXPENSE> 0 0 0
<GROSS-EXPENSE> (439813) 0 0
<AVERAGE-NET-ASSETS> 5035835 3362361 199724
<PER-SHARE-NAV-BEGIN> 17.89 15.44 16.83
<PER-SHARE-NII> (0.10) (0.18) (0.17)
<PER-SHARE-GAIN-APPREC> 4.55 3.85 4.20
<PER-SHARE-DIVIDEND> 0 0 0
<PER-SHARE-DISTRIBUTIONS> 0 0 0
<RETURNS-OF-CAPITAL> 0 0 0
<PER-SHARE-NAV-END> 22.34 19.11 20.86
<EXPENSE-RATIO> 1.31 2.09 2.07
</TABLE>
