<PAGE> PAGE 1
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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 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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SIGNATURE JOHN MARSHALL
TITLE MANAGER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> FundManager Portfolios
Hudson Capital Appreciation Fund
Class A
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-END> Jun-30-1999
<INVESTMENTS-AT-COST> 24,376,840
<INVESTMENTS-AT-VALUE> 26,150,213
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<ASSETS-OTHER> 557
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26,161,581
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<OTHER-ITEMS-LIABILITIES> 768,108
<TOTAL-LIABILITIES> 768,108
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22,636,168
<SHARES-COMMON-STOCK> 1,405,125
<SHARES-COMMON-PRIOR> 1,792,907
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,117,895)
<ACCUMULATED-NET-GAINS> 2,101,827
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,773,373
<NET-ASSETS> 25,393,473
<DIVIDEND-INCOME> 53,433
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> (218,147)
<REALIZED-GAINS-CURRENT> 1,905,025
<APPREC-INCREASE-CURRENT> (25,455)
<NET-CHANGE-FROM-OPS> 1,661,423
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<NUMBER-OF-SHARES-REDEEMED> 419,137
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (6,055,865)
<ACCUMULATED-NII-PRIOR> (551,979)
<ACCUMULATED-GAINS-PRIOR> 714,676
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 133,868
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 387,771
<AVERAGE-NET-ASSETS> 22,727,455
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<PER-SHARE-NII> (0.110)
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<PER-SHARE-NAV-END> 15.140
<EXPENSE-RATIO> 2.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> FundManager Portfolios
Hudson Capital Appreciation Fund
Class B
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-END> Jun-30-1999
<INVESTMENTS-AT-COST> 24,376,840
<INVESTMENTS-AT-VALUE> 26,150,213
<RECEIVABLES> 10,811
<ASSETS-OTHER> 557
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26,161,581
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<OTHER-ITEMS-LIABILITIES> 768,108
<TOTAL-LIABILITIES> 768,108
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<SHARES-COMMON-PRIOR> 191,337
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,117,895)
<ACCUMULATED-NET-GAINS> 2,101,827
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,773,373
<NET-ASSETS> 25,393,473
<DIVIDEND-INCOME> 53,433
<INTEREST-INCOME> 9,365
<OTHER-INCOME> 0
<EXPENSES-NET> 280,945
<NET-INVESTMENT-INCOME> (218,147)
<REALIZED-GAINS-CURRENT> 1,905,025
<APPREC-INCREASE-CURRENT> (25,455)
<NET-CHANGE-FROM-OPS> 1,661,423
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,946
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (6,055,865)
<ACCUMULATED-NII-PRIOR> (551,979)
<ACCUMULATED-GAINS-PRIOR> 714,676
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 133,868
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 387,771
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<PER-SHARE-NII> (0.160)
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<EXPENSE-RATIO> 2.50
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 013
<NAME> FundManager Portfolios
Hudson Capital Appreciation Fund
Class N
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Dec-31-1999
<PERIOD-END> Jun-30-1999
<INVESTMENTS-AT-COST> 24,376,840
<INVESTMENTS-AT-VALUE> 26,150,213
<RECEIVABLES> 10,811
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<OTHER-ITEMS-ASSETS> 0
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<TOTAL-LIABILITIES> 768,108
<SENIOR-EQUITY> 0
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<SHARES-COMMON-PRIOR> 242,829
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,117,895)
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,773,373
<NET-ASSETS> 25,393,473
<DIVIDEND-INCOME> 53,433
<INTEREST-INCOME> 9,365
<OTHER-INCOME> 0
<EXPENSES-NET> 280,945
<NET-INVESTMENT-INCOME> (218,147)
<REALIZED-GAINS-CURRENT> 1,905,025
<APPREC-INCREASE-CURRENT> (25,455)
<NET-CHANGE-FROM-OPS> 1,661,423
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,102
<NUMBER-OF-SHARES-REDEEMED> 129,625
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (6,055,865)
<ACCUMULATED-NII-PRIOR> (551,979)
<ACCUMULATED-GAINS-PRIOR> 714,676
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 133,868
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 387,771
<AVERAGE-NET-ASSETS> 2,471,189
<PER-SHARE-NAV-BEGIN> 14.130
<PER-SHARE-NII> (0.110)
<PER-SHARE-GAIN-APPREC> 1.120
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
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<PER-SHARE-NAV-END> 15.140
<EXPENSE-RATIO> 2.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
