ALLEGHANY FUNDS
NSAR-B, EX-27, 2000-12-29
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<TABLE> <S> <C>

<ARTICLE>                                6
<SERIES>
<NUMBER>                                 051
<NAME>                                   Talon Fund - Class N

<S>                                      <C>
<PERIOD-TYPE>                            YEAR
<FISCAL-YEAR-END>                        OCT-31-2000
<PERIOD-START>                           OCT-31-1999
<PERIOD-END>                             OCT-31-2000
<INVESTMENTS-AT-COST>                                       23,550,295
<INVESTMENTS-AT-VALUE>                                      26,221,750
<RECEIVABLES>                                                1,127,346
<ASSETS-OTHER>                                                     146
<OTHER-ITEMS-ASSETS>                                                 0
<TOTAL-ASSETS>                                              27,349,242
<PAYABLE-FOR-SECURITIES>                                       922,820
<SENIOR-LONG-TERM-DEBT>                                              0
<OTHER-ITEMS-LIABILITIES>                                       37,073
<TOTAL-LIABILITIES>                                            959,893
<SENIOR-EQUITY>                                                      0
<PAID-IN-CAPITAL-COMMON>                                    19,003,320
<SHARES-COMMON-STOCK>                                        1,426,835
<SHARES-COMMON-PRIOR>                                        1,307,041
<ACCUMULATED-NII-CURRENT>                                            0
<OVERDISTRIBUTION-NII>                                               0
<ACCUMULATED-NET-GAINS>                                      4,714,574
<OVERDISTRIBUTION-GAINS>                                             0
<ACCUM-APPREC-OR-DEPREC>                                     2,671,455
<NET-ASSETS>                                                26,389,349
<DIVIDEND-INCOME>                                              207,789
<INTEREST-INCOME>                                                4,523
<OTHER-INCOME>                                                       0
<EXPENSES-NET>                                                (285,844)
<NET-INVESTMENT-INCOME>                                        (73,532)
<REALIZED-GAINS-CURRENT>                                     4,788,271
<APPREC-INCREASE-CURRENT>                                    1,216,411
<NET-CHANGE-FROM-OPS>                                        5,931,150
<EQUALIZATION>                                                       0
<DISTRIBUTIONS-OF-INCOME>                                            0
<DISTRIBUTIONS-OF-GAINS>                                      (195,413)
<DISTRIBUTIONS-OTHER>                                                0
<NUMBER-OF-SHARES-SOLD>                                        959,918
<NUMBER-OF-SHARES-REDEEMED>                                    853,475
<SHARES-REINVESTED>                                             13,351
<NET-CHANGE-IN-ASSETS>                                       8,803,311
<ACCUMULATED-NII-PRIOR>                                              0
<ACCUMULATED-GAINS-PRIOR>                                      195,248
<OVERDISTRIB-NII-PRIOR>                                              0
<OVERDIST-NET-GAINS-PRIOR>                                           0
<GROSS-ADVISORY-FEES>                                          175,902
<INTEREST-EXPENSE>                                                   0
<GROSS-EXPENSE>                                                325,337
<AVERAGE-NET-ASSETS>                                        21,979,401
<PER-SHARE-NAV-BEGIN>                                            13.45
<PER-SHARE-NII>                                                  (0.05)
<PER-SHARE-GAIN-APPREC>                                           5.25
<PER-SHARE-DIVIDEND>                                              0.00
<PER-SHARE-DISTRIBUTIONS>                                        (0.15)
<RETURNS-OF-CAPITAL>                                              0.00
<PER-SHARE-NAV-END>                                              18.50
<EXPENSE-RATIO>                                                   1.30



</TABLE>


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