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SIGNATURE GUY NORDAHL
TITLE VICE-PRESIDENT
[ARTICLE] 6
[CIK] 0000779234
[NAME] NORTHSTAR BALANCE SHEET OPPORTUNITIES FUND
[SERIES]
[NUMBER] 1
[NAME] CLASS A
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-START] JAN-01-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 50980509
[INVESTMENTS-AT-VALUE] 55774385
[RECEIVABLES] 903037
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[EQUALIZATION] 0
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[NET-CHANGE-IN-ASSETS] (4415928)
[ACCUMULATED-NII-PRIOR] 4260
[ACCUMULATED-GAINS-PRIOR] 1523621
[OVERDISTRIB-NII-PRIOR] 0
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[GROSS-ADVISORY-FEES] 198541
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</TABLE>
[ARTICLE] 6
[CIK] 0000779234
[NAME] NORTHSTAR BALANCE SHEET OPPORTUNITIES FUND
[SERIES]
[NUMBER] 2
[NAME] CLASS B
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-START] JAN-01-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 50980509
[INVESTMENTS-AT-VALUE] 55774385
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[REALIZED-GAINS-CURRENT] 2082290
[APPREC-INCREASE-CURRENT] 2651840
[NET-CHANGE-FROM-OPS] 5919260
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (1116726)
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[NUMBER-OF-SHARES-SOLD] 881020
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</TABLE>
[ARTICLE] 6
[CIK] 0000779234
[NAME] NORTHSTAR BALANCE SHEET OPPORTUNITIES FUND
[SERIES]
[NUMBER] 3
[NAME] CLASS C
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-START] JAN-01-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 50980509
[INVESTMENTS-AT-VALUE] 55774385
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</TABLE>
[ARTICLE] 6
[CIK] 0000779234
[NAME] NORTHSTAR BALANCE SHEET OPPORTUNITIES FUND
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<TABLE>
<S> <C>
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</TABLE>
