<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001102736
<NAME> MASTER INTERNET STRATEGIES TRUST
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JAN-31-2001
<PERIOD-START> MAR-22-2000
<PERIOD-END> JUL-31-2000
<INVESTMENTS-AT-COST> 1069143076
<INVESTMENTS-AT-VALUE> 864980993
<RECEIVABLES> 3817706
<ASSETS-OTHER> 106007
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 868904706
<PAYABLE-FOR-SECURITIES> 20226951
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3031813
<TOTAL-LIABILITIES> 23258764
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1049808025
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (204162083)
<NET-ASSETS> 845645942
<DIVIDEND-INCOME> 14564
<INTEREST-INCOME> 3145422
<OTHER-INCOME> 0
<EXPENSES-NET> (3247495)
<NET-INVESTMENT-INCOME> (87509)
<REALIZED-GAINS-CURRENT> (134687295)
<APPREC-INCREASE-CURRENT> (204162083)
<NET-CHANGE-FROM-OPS> (338936887)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 845445842
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3086558
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3247495
<AVERAGE-NET-ASSETS> 853479981
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 1.05
</TABLE>