<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> BELAIR CAPITAL FUND
<S> <C>
<PERIOD-TYPE> 9-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 2,272,347,422
<INVESTMENTS-AT-VALUE> 2,479,188,542
<RECEIVABLES> 14,739,550
<ASSETS-OTHER> 366,343
<OTHER-ITEMS-ASSETS> 25,914,000
<TOTAL-ASSETS> 2,520,208,495
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 645,000,000
<OTHER-ITEMS-LIABILITIES> 6,021,948
<TOTAL-LIABILITIES> 651,021,948
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,716,881,706
<SHARES-COMMON-STOCK> 16,053,481
<SHARES-COMMON-PRIOR> 16,568,833
<ACCUMULATED-NII-CURRENT> 19,902
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (63,089,652)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 215,374,591
<NET-ASSETS> 1,869,186,547
<DIVIDEND-INCOME> 48,433,889
<INTEREST-INCOME> 4,176,136
<OTHER-INCOME> 0
<EXPENSES-NET> 47,286,935
<NET-INVESTMENT-INCOME> 5,323,090
<REALIZED-GAINS-CURRENT> (8,001,500)
<APPREC-INCREASE-CURRENT> 2,014,396
<NET-CHANGE-FROM-OPS> (664,014)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (515,352)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (63,661,825)
<ACCUMULATED-NII-PRIOR> (5,303,188)
<ACCUMULATED-GAINS-PRIOR> (55,088,152)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,847,333
<INTEREST-EXPENSE> 31,540,823
<GROSS-EXPENSE> 47,286,935
<AVERAGE-NET-ASSETS> 1,997,919,000
<PER-SHARE-NAV-BEGIN> 116.66
<PER-SHARE-NII> 0.334
<PER-SHARE-GAIN-APPREC> (0.564)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 116.43
<EXPENSE-RATIO> 3.16
</TABLE>
