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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN COUNCIL
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 1
<NAME> Fortress Municipal Income Fund
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Aug-31-1995
<PERIOD-END> Feb-28-1995
<INVESTMENTS-AT-COST> 421,315,980
<INVESTMENTS-AT-VALUE> 421,197,543
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<ASSETS-OTHER> 37,723
<OTHER-ITEMS-ASSETS> 0
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<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 994,054
<TOTAL-LIABILITIES> 994,054
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 436,951,621
<SHARES-COMMON-STOCK> 40,869,398
<SHARES-COMMON-PRIOR> 44,721,434
<ACCUMULATED-NII-CURRENT> 1,416,050
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9,761,742)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (118,437)
<NET-ASSETS> 428,487,492
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15,952,771
<OTHER-INCOME> 0
<EXPENSES-NET> 2,300,853
<NET-INVESTMENT-INCOME> 13,651,918
<REALIZED-GAINS-CURRENT> (4,632,110)
<APPREC-INCREASE-CURRENT> (928,000)
<NET-CHANGE-FROM-OPS> 8,091,808
<EQUALIZATION> (56,345)
<DISTRIBUTIONS-OF-INCOME> 13,121,174
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,127,304
<NUMBER-OF-SHARES-REDEEMED> 6,557,335
<SHARES-REINVESTED> 577,995
<NET-CHANGE-IN-ASSETS> (43,744,085)
<ACCUMULATED-NII-PRIOR> 941,652
<ACCUMULATED-GAINS-PRIOR> (5,129,632)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,282,977
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,300,853
<AVERAGE-NET-ASSETS> 434,508,018
<PER-SHARE-NAV-BEGIN> 10.560
<PER-SHARE-NII> 0.320
<PER-SHARE-GAIN-APPREC> (0.090)
<PER-SHARE-DIVIDEND> 0.310
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<PER-SHARE-NAV-END> 10.480
<EXPENSE-RATIO> 108
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
