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<PAGE> PAGE 2
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<PAGE> PAGE 10
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<PAGE> PAGE 12
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SIGNATURE TAMARA L. FAGELY
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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CHANGES IN NET ASSETS FOUND ON PAGES 26 - 44 OF THE SEMI-ANNUAL SHAREHOLDER
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 26 - 44 OF THE SEMI-ANNUAL SHAREHOLDER
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<NAME> FORTIS ADVANTAGE PORTFOLIOS INC.
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<NET-CHANGE-IN-ASSETS> 11,370,286
<ACCUMULATED-NII-PRIOR> 772,587
<ACCUMULATED-GAINS-PRIOR> 2,811,049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 679,625
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,098,112
<AVERAGE-NET-ASSETS> 145,732,000
<PER-SHARE-NAV-BEGIN> 16.46
<PER-SHARE-NII> .17
<PER-SHARE-GAIN-APPREC> .45
<PER-SHARE-DIVIDEND> (.21)
<PER-SHARE-DISTRIBUTIONS> (.32)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.55
<EXPENSE-RATIO> 2.04<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $19,057,632 WERE ON LOAN TO BROKERS, AND THE FUND RECEIVED
$23,938,207 IN COLLATERAL.
<F2>INCOME RECEIVED FROM THE SECURITY LENDING PROGRAM.
<F3>ANNUALIZED
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 26 - 44 OF THE SEMI-ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS INC.
<SERIES>
<NUMBER> 1
<NAME> ASSET ALLOCATION PORTFOLIO (CLASS C)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 118,006,191
<INVESTMENTS-AT-VALUE> 148,592,949
<RECEIVABLES> 5,700,968
<ASSETS-OTHER> 23,938,207<F1>
<OTHER-ITEMS-ASSETS> 58,636
<TOTAL-ASSETS> 178,290,760
<PAYABLE-FOR-SECURITIES> 3,708,156
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 24,128,399<F1>
<TOTAL-LIABILITIES> 27,836,555
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 116,203,123
<SHARES-COMMON-STOCK> 111,776
<SHARES-COMMON-PRIOR> 47,355
<ACCUMULATED-NII-CURRENT> 576,857
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,087,467
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 30,586,758
<NET-ASSETS> 150,454,205
<DIVIDEND-INCOME> 123,355
<INTEREST-INCOME> 2,892,384
<OTHER-INCOME> 10,188<F2>
<EXPENSES-NET> (1,098,112)
<NET-INVESTMENT-INCOME> 1,927,815
<REALIZED-GAINS-CURRENT> 3,094,946
<APPREC-INCREASE-CURRENT> 1,021,808
<NET-CHANGE-FROM-OPS> 6,044,569
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,260)
<DISTRIBUTIONS-OF-GAINS> (27,342)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 71,139
<NUMBER-OF-SHARES-REDEEMED> (9,302)
<SHARES-REINVESTED> 2,584
<NET-CHANGE-IN-ASSETS> 11,370,286
<ACCUMULATED-NII-PRIOR> 772,587
<ACCUMULATED-GAINS-PRIOR> 2,811,049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 679,625
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,098,112
<AVERAGE-NET-ASSETS> 145,732,000
<PER-SHARE-NAV-BEGIN> 16.41
<PER-SHARE-NII> .17
<PER-SHARE-GAIN-APPREC> .45
<PER-SHARE-DIVIDEND> (.21)
<PER-SHARE-DISTRIBUTIONS> (.32)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.50
<EXPENSE-RATIO> 2.04<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $19,057,632 WERE ON LOAN TO BROKERS, AND THE FUND RECEIVED
$23,938,207 IN COLLATERAL.
<F2>INCOME RECEIVED FROM THE SECURITY LENDING PROGRAM.
<F3>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 26 - 44 OF THE SEMI-ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS INC.
<SERIES>
<NUMBER> 1
<NAME> ASSET ALLOCATION PORTFOLIO (CLASS H)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 118,006,191
<INVESTMENTS-AT-VALUE> 148,592,949
<RECEIVABLES> 5,700,968
<ASSETS-OTHER> 23,938,207<F1>
<OTHER-ITEMS-ASSETS> 58,636
<TOTAL-ASSETS> 178,290,760
<PAYABLE-FOR-SECURITIES> 3,708,156
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 24,128,399<F1>
<TOTAL-LIABILITIES> 27,836,555
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 116,203,123
<SHARES-COMMON-STOCK> 511,251
<SHARES-COMMON-PRIOR> 284,416
<ACCUMULATED-NII-CURRENT> 576,857
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,087,467
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 30,586,758
<NET-ASSETS> 150,454,205
<DIVIDEND-INCOME> 123,355
<INTEREST-INCOME> 2,892,384
<OTHER-INCOME> 10,188<F2>
<EXPENSES-NET> (1,098,112)
<NET-INVESTMENT-INCOME> 1,927,815
<REALIZED-GAINS-CURRENT> 3,094,946
<APPREC-INCREASE-CURRENT> 1,021,808
<NET-CHANGE-FROM-OPS> 6,044,569
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (75,714)
<DISTRIBUTIONS-OF-GAINS> (136,849)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 237,346
<NUMBER-OF-SHARES-REDEEMED> (22,778)
<SHARES-REINVESTED> 12,267
<NET-CHANGE-IN-ASSETS> 11,370,286
<ACCUMULATED-NII-PRIOR> 772,587
<ACCUMULATED-GAINS-PRIOR> 2,811,049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 679,625
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,098,112
<AVERAGE-NET-ASSETS> 145,732,000
<PER-SHARE-NAV-BEGIN> 16.44
<PER-SHARE-NII> .17
<PER-SHARE-GAIN-APPREC> .46
<PER-SHARE-DIVIDEND> (.21)
<PER-SHARE-DISTRIBUTIONS> (.32)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 16.54
<EXPENSE-RATIO> 2.04<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $19,057,632 WERE ON LOAN TO BROKERS, AND THE FUND RECEIVED
$23,938,207 IN COLLATERAL.
<F2>INCOME RECEIVED FROM THE SECURITY LENDING PROGRAM.
<F3>ANNUALIZED
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 26 - 44 OF THE SEMI-ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS INC.
<SERIES>
<NUMBER> 2
<NAME> CAPITAL APPRECIATION PORTFOLIO (CLASS A)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 64,236,753
<INVESTMENTS-AT-VALUE> 114,830,600
<RECEIVABLES> 114,154
<ASSETS-OTHER> 31,556,851<F1>
<OTHER-ITEMS-ASSETS> 147,657
<TOTAL-ASSETS> 146,649,262
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,680,413<F1>
<TOTAL-LIABILITIES> 31,680,413
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66,383,296
<SHARES-COMMON-STOCK> 3,311,718
<SHARES-COMMON-PRIOR> 2,964,190
<ACCUMULATED-NII-CURRENT> (541,628)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,466,666)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 50,593,847
<NET-ASSETS> 114,968,849
<DIVIDEND-INCOME> 8,801
<INTEREST-INCOME> 213,709
<OTHER-INCOME> 39,353<F2>
<EXPENSES-NET> (803,491)
<NET-INVESTMENT-INCOME> (541,628)
<REALIZED-GAINS-CURRENT> (1,464,849)
<APPREC-INCREASE-CURRENT> 9,074,501
<NET-CHANGE-FROM-OPS> 7,068,024
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (684,688)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 776,133
<NUMBER-OF-SHARES-REDEEMED> (451,294)
<SHARES-REINVESTED> 22,689
<NET-CHANGE-IN-ASSETS> 20,867,213
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 721,393
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 494,556
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 803,491
<AVERAGE-NET-ASSETS> 101,244,000
<PER-SHARE-NAV-BEGIN> 30.67
<PER-SHARE-NII> (.15)
<PER-SHARE-GAIN-APPREC> 2.18
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.47
<EXPENSE-RATIO> 1.58<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $30,227,007 WERE ON LOAN TO BROKERS AND THE FUND RECEIVED
$31,556,851 IN COLLATERAL.
<F2>INCOME RECEIVED FROM THE SECURITY LENDING PROGRAM.
<F3>ANNUALIZED
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 26 - 44 OF THE SEMI-ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS INC.
<SERIES>
<NUMBER> 2
<NAME> CAPITAL APPRECIATION PORTFOLIO (CLASS B)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 64,236,753
<INVESTMENTS-AT-VALUE> 114,830,600
<RECEIVABLES> 114,154
<ASSETS-OTHER> 31,556,851<F1>
<OTHER-ITEMS-ASSETS> 147,657
<TOTAL-ASSETS> 146,649,262
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,680,413<F1>
<TOTAL-LIABILITIES> 31,680,413
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66,383,296
<SHARES-COMMON-STOCK> 71,485
<SHARES-COMMON-PRIOR> 27,522
<ACCUMULATED-NII-CURRENT> (541,628)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,466,666)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 50,593,847
<NET-ASSETS> 114,968,849
<DIVIDEND-INCOME> 8,801
<INTEREST-INCOME> 213,709
<OTHER-INCOME> 39,353<F2>
<EXPENSES-NET> (803,491)
<NET-INVESTMENT-INCOME> (541,628)
<REALIZED-GAINS-CURRENT> (1,464,849)
<APPREC-INCREASE-CURRENT> 9,074,501
<NET-CHANGE-FROM-OPS> 7,068,024
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (11,074)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46,397
<NUMBER-OF-SHARES-REDEEMED> (2,805)
<SHARES-REINVESTED> 371
<NET-CHANGE-IN-ASSETS> 20,867,213
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 721,393
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 494,556
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 803,491
<AVERAGE-NET-ASSETS> 101,244,000
<PER-SHARE-NAV-BEGIN> 30.57
<PER-SHARE-NII> (.15)
<PER-SHARE-GAIN-APPREC> 2.09
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.28
<EXPENSE-RATIO> 2.13<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $30,227,007 WERE ON LOAN TO BROKERS AND THE FUND RECEIVED
$31,556,851 IN COLLATERAL.
<F2>INCOME RECEIVED FROM THE SECURITY LENDING PROGRAM.
<F3>ANNUALIZED
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 26 - 44 OF THE SEMI-ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS INC.
<SERIES>
<NUMBER> 2
<NAME> CAPITAL APPRECIATION PORTFOLIO (CLASS C)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 64,236,753
<INVESTMENTS-AT-VALUE> 114,830,600
<RECEIVABLES> 114,154
<ASSETS-OTHER> 31,556,851<F1>
<OTHER-ITEMS-ASSETS> 147,657
<TOTAL-ASSETS> 146,649,262
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,680,413<F1>
<TOTAL-LIABILITIES> 31,680,413
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66,383,296
<SHARES-COMMON-STOCK> 14,960
<SHARES-COMMON-PRIOR> 7,431
<ACCUMULATED-NII-CURRENT> (541,628)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,466,666)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 50,593,847
<NET-ASSETS> 114,968,849
<DIVIDEND-INCOME> 8,801
<INTEREST-INCOME> 213,709
<OTHER-INCOME> 39,353<F2>
<EXPENSES-NET> (803,491)
<NET-INVESTMENT-INCOME> (541,628)
<REALIZED-GAINS-CURRENT> (1,464,849)
<APPREC-INCREASE-CURRENT> 9,074,501
<NET-CHANGE-FROM-OPS> 7,068,024
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (2,391)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8,448
<NUMBER-OF-SHARES-REDEEMED> (999)
<SHARES-REINVESTED> 80
<NET-CHANGE-IN-ASSETS> 20,867,213
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 721,393
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 494,556
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 803,491
<AVERAGE-NET-ASSETS> 101,244,000
<PER-SHARE-NAV-BEGIN> 30.58
<PER-SHARE-NII> (.15)
<PER-SHARE-GAIN-APPREC> 2.09
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.29
<EXPENSE-RATIO> 2.13<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $30,227,007 WERE ON LOAN TO BROKERS AND THE FUND RECEIVED
$31,556,851 IN COLLATERAL.
<F2>INCOME RECEIVED FROM THE SECURITY LENDING PROGRAM.
<F3>ANNUALIZED
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
STATEMENT OF ASSETS AND LIABILITIES, STATEMENT OF OPERATIONS, AND STATEMENT OF
CHANGES IN NET ASSETS FOUND ON PAGES 26 - 44 OF THE SEMI-ANNUAL SHAREHOLDER
REPORT.
</LEGEND>
<CIK> 0000823344
<NAME> FORTIS ADVANTAGE PORTFOLIOS INC.
<SERIES>
<NUMBER> 2
<NAME> CAPITAL APPRECIATION PORTFOLIO (CLASS H)
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 64,236,753
<INVESTMENTS-AT-VALUE> 114,830,600
<RECEIVABLES> 114,154
<ASSETS-OTHER> 31,556,851<F1>
<OTHER-ITEMS-ASSETS> 147,657
<TOTAL-ASSETS> 146,649,262
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 31,680,413<F1>
<TOTAL-LIABILITIES> 31,680,413
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66,383,296
<SHARES-COMMON-STOCK> 144,180
<SHARES-COMMON-PRIOR> 69,156
<ACCUMULATED-NII-CURRENT> (541,628)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,466,666)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 50,593,847
<NET-ASSETS> 114,968,849
<DIVIDEND-INCOME> 8,801
<INTEREST-INCOME> 213,709
<OTHER-INCOME> 39,353<F2>
<EXPENSES-NET> (803,491)
<NET-INVESTMENT-INCOME> (541,628)
<REALIZED-GAINS-CURRENT> (1,464,849)
<APPREC-INCREASE-CURRENT> 9,074,501
<NET-CHANGE-FROM-OPS> 7,068,024
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (25,057)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 78,498
<NUMBER-OF-SHARES-REDEEMED> (4,326)
<SHARES-REINVESTED> 852
<NET-CHANGE-IN-ASSETS> 20,867,213
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 721,393
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 494,556
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 803,491
<AVERAGE-NET-ASSETS> 101,244,000
<PER-SHARE-NAV-BEGIN> 30.58
<PER-SHARE-NII> (.16)
<PER-SHARE-GAIN-APPREC> 2.10
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.23)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.29
<EXPENSE-RATIO> 2.13<F3>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>SECURITIES VALUED AT $30,227,007 WERE ON LOAN TO BROKERS AND THE FUND RECEIVED
$31,556,851 IN COLLATERAL.
<F2>INCOME RECEIVED FROM THE SECURITY LENDING PROGRAM.
<F3>ANNUALIZED
</FN>
</TABLE>
