<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger Berman Guardian Trust Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000906926
<NAME> NEUBERGER BERMAN EQUITY TRUST
<SERIES>
<NUMBER> 01
<NAME> NEUBERGER BERMAN GUARDIAN TRUST
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-2000
<PERIOD-END> AUG-31-2000
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 1,095,123
<RECEIVABLES> 215
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,095,338
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,714
<TOTAL-LIABILITIES> 1,714
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 786,446
<SHARES-COMMON-STOCK> 70,818
<SHARES-COMMON-PRIOR> 76,470
<ACCUMULATED-NII-CURRENT> 1,360
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 91,018
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 214,800
<NET-ASSETS> 1,093,624
<DIVIDEND-INCOME> 13,000
<INTEREST-INCOME> 3,793
<OTHER-INCOME> 0
<EXPENSES-NET> (10,263)
<NET-INVESTMENT-INCOME> 6,530
<REALIZED-GAINS-CURRENT> 90,784
<APPREC-INCREASE-CURRENT> 75,280
<NET-CHANGE-FROM-OPS> 172,594
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (7,444)
<DISTRIBUTIONS-OF-GAINS> (227,970)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14,007
<NUMBER-OF-SHARES-REDEEMED> (36,671)
<SHARES-REINVESTED> 17,012
<NET-CHANGE-IN-ASSETS> (157,527)
<ACCUMULATED-NII-PRIOR> 2,288
<ACCUMULATED-GAINS-PRIOR> 227,923
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 10,263
<AVERAGE-NET-ASSETS> 1,133,838
<PER-SHARE-NAV-BEGIN> 16.36
<PER-SHARE-NII> .09
<PER-SHARE-GAIN-APPREC> 2.23
<PER-SHARE-DIVIDEND> (.10)
<PER-SHARE-DISTRIBUTIONS> (3.14)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 15.44
<EXPENSE-RATIO> .91
</TABLE>
