<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 5
<NAME> BELAIR CAPITAL FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 2,318,848,596
<INVESTMENTS-AT-VALUE> 2,697,580,106
<RECEIVABLES> 17,010,084
<ASSETS-OTHER> 526,935
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,715,117,125
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 631,074,438
<TOTAL-LIABILITIES> 631,074,438
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,752,925,594
<SHARES-COMMON-STOCK> 16,346,353
<SHARES-COMMON-PRIOR> 16,568,833
<ACCUMULATED-NII-CURRENT> (618,924)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (56,935,785)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 388,671,802
<NET-ASSETS> 2,084,042,687
<DIVIDEND-INCOME> 33,014,633
<INTEREST-INCOME> 2,585,098
<OTHER-INCOME> 0
<EXPENSES-NET> 30,915,467
<NET-INVESTMENT-INCOME> 4,684,264
<REALIZED-GAINS-CURRENT> (1,847,633)
<APPREC-INCREASE-CURRENT> 175,311,607
<NET-CHANGE-FROM-OPS> 178,148,238
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 222,480
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 151,194,315
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (55,088,152)
<OVERDISTRIB-NII-PRIOR> (5,303,188)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,174,777
<INTEREST-EXPENSE> 20,403,471
<GROSS-EXPENSE> 30,915,467
<AVERAGE-NET-ASSETS> 2,007,493,950
<PER-SHARE-NAV-BEGIN> 116.66
<PER-SHARE-NII> 0.285
<PER-SHARE-GAIN-APPREC> 10.545
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 127.49
<EXPENSE-RATIO> 3.11
</TABLE>
