<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> ALGER SMALL CAPITALIZATION PORTFOLIO CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 432743
<INVESTMENTS-AT-VALUE> 449626
<RECEIVABLES> 23560
<ASSETS-OTHER> 68
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 473254
<PAYABLE-FOR-SECURITIES> 23695
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1409
<TOTAL-LIABILITIES> 25104
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 341637
<SHARES-COMMON-STOCK> 12669
<SHARES-COMMON-PRIOR> 9499
<ACCUMULATED-NII-CURRENT> (7913)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 89304
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 25122
<NET-ASSETS> 448150
<DIVIDEND-INCOME> 243
<INTEREST-INCOME> 2847
<OTHER-INCOME> 0
<EXPENSES-NET> 11003
<NET-INVESTMENT-INCOME> (7913)
<REALIZED-GAINS-CURRENT> 92099
<APPREC-INCREASE-CURRENT> (83423)
<NET-CHANGE-FROM-OPS> 763
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (9118)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 66341
<NUMBER-OF-SHARES-REDEEMED> 61194
<SHARES-REINVESTED> 760
<NET-CHANGE-IN-ASSETS> (49337)
<ACCUMULATED-NII-PRIOR> (51039)
<ACCUMULATED-GAINS-PRIOR> 108128
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4627
<INTEREST-EXPENSE> 11
<GROSS-EXPENSE> 11003
<AVERAGE-NET-ASSETS> 91562
<PER-SHARE-NAV-BEGIN> 10.35
<PER-SHARE-NII> (.08)
<PER-SHARE-GAIN-APPREC> .35
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 1.81
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.81
<EXPENSE-RATIO> 1.41
</TABLE>
