<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
The following FDS has been rounded to the nearest thousand.
</LEGEND>
<CIK> 0000799196
<NAME> The Elite Group
<SERIES>
<NAME> The Elite Income Fund
<NUMBER> 2
<MULTIPLIER> 1,000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> Sep-30-1999
<PERIOD-START> Oct-1-1998
<PERIOD-END> Sep-30-1999
<EXCHANGE-RATE> 1.00
<INVESTMENTS-AT-COST> 25,405
<INVESTMENTS-AT-VALUE> 25,320
<RECEIVABLES> 461
<ASSETS-OTHER> 182
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 25,963
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 61
<TOTAL-LIABILITIES> 61
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 26,037
<SHARES-COMMON-STOCK> 2,602
<SHARES-COMMON-PRIOR> 2,876
<ACCUMULATED-NII-CURRENT> 2
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 52
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (85)
<NET-ASSETS> 25,902
<DIVIDEND-INCOME> 50
<INTEREST-INCOME> 1,778
<OTHER-INCOME> 0
<EXPENSES-NET> 243
<NET-INVESTMENT-INCOME> 1,585
<REALIZED-GAINS-CURRENT> (44)
<APPREC-INCREASE-CURRENT> (2,029)
<NET-CHANGE-FROM-OPS> (488)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,583
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 566
<NUMBER-OF-SHARES-REDEEMED> 982
<SHARES-REINVESTED> 142
<NET-CHANGE-IN-ASSETS> (4,938)
<ACCUMULATED-NII-PRIOR> 25
<ACCUMULATED-GAINS-PRIOR> 3,159
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 198
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 268
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 10.72
<PER-SHARE-NII> 0.59
<PER-SHARE-GAIN-APPREC> (0.76)
<PER-SHARE-DIVIDEND> 0.59
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 9.96
<EXPENSE-RATIO> 0.00
</TABLE>