WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000810271
<NAME> SMALL CAP FUND
<SERIES>
<NUMBER> 001
<NAME> CONCERT INVESTMENT SERIES TRUST
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 355,363,485
<INVESTMENTS-AT-VALUE> 361,993,459
<RECEIVABLES> 514,262
<ASSETS-OTHER> 43,854,913
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 406,362,634
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 44,553,027
<TOTAL-LIABILITIES> 44,553,027
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 315,114,622
<SHARES-COMMON-STOCK> 546,232
<SHARES-COMMON-PRIOR> 364,678
<ACCUMULATED-NII-CURRENT> (1,710,418)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 42,160,540
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,244,863
<NET-ASSETS> 361,809,607
<DIVIDEND-INCOME> 526,542
<INTEREST-INCOME> 894,580
<OTHER-INCOME> 0
<EXPENSES-NET> 3,125,589
<NET-INVESTMENT-INCOME> (1,704,467)
<REALIZED-GAINS-CURRENT> 42,350,494
<APPREC-INCREASE-CURRENT> 6,734,657
<NET-CHANGE-FROM-OPS> 47,380,684
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 36,748,645
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 131,314
<NUMBER-OF-SHARES-REDEEMED> 50,626
<SHARES-REINVESTED> 100,866
<NET-CHANGE-IN-ASSETS> 85,889,464
<ACCUMULATED-NII-PRIOR> (5,951)
<ACCUMULATED-GAINS-PRIOR> 75,021,271
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,140,280
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,125,589
<AVERAGE-NET-ASSETS> 175,123,416
<PER-SHARE-NAV-BEGIN> 25.33
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 4.84
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 6.66
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 23.49
<EXPENSE-RATIO> 0.99
</TABLE>
