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

<ARTICLE>                                6
<SERIES>
<NUMBER>                                 131
<NAME>                                   Emerging Markets 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>                                       14,892,623
<INVESTMENTS-AT-VALUE>                                      13,628,134
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<OTHER-ITEMS-ASSETS>                                           300,064
<TOTAL-ASSETS>                                              14,043,260
<PAYABLE-FOR-SECURITIES>                                       398,034
<SENIOR-LONG-TERM-DEBT>                                              0
<OTHER-ITEMS-LIABILITIES>                                      165,605
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<SENIOR-EQUITY>                                                      0
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<SHARES-COMMON-STOCK>                                          182,118
<SHARES-COMMON-PRIOR>                                          160,832
<ACCUMULATED-NII-CURRENT>                                       61,491
<OVERDISTRIBUTION-NII>                                               0
<ACCUMULATED-NET-GAINS>                                              0
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<ACCUM-APPREC-OR-DEPREC>                                    (1,262,570)
<NET-ASSETS>                                                13,479,621
<DIVIDEND-INCOME>                                              337,138
<INTEREST-INCOME>                                               31,430
<OTHER-INCOME>                                                       0
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<REALIZED-GAINS-CURRENT>                                     1,513,064
<APPREC-INCREASE-CURRENT>                                   (2,211,719)
<NET-CHANGE-FROM-OPS>                                         (590,478)
<EQUALIZATION>                                                       0
<DISTRIBUTIONS-OF-INCOME>                                       (2,599)
<DISTRIBUTIONS-OF-GAINS>                                             0
<DISTRIBUTIONS-OTHER>                                                0
<NUMBER-OF-SHARES-SOLD>                                        267,933
<NUMBER-OF-SHARES-REDEEMED>                                    246,832
<SHARES-REINVESTED>                                                185
<NET-CHANGE-IN-ASSETS>                                      (4,828,551)
<ACCUMULATED-NII-PRIOR>                                         45,132
<ACCUMULATED-GAINS-PRIOR>                                            0
<OVERDISTRIB-NII-PRIOR>                                              0
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<GROSS-ADVISORY-FEES>                                          157,847
<INTEREST-EXPENSE>                                                   0
<GROSS-EXPENSE>                                                326,049
<AVERAGE-NET-ASSETS>                                         2,253,983
<PER-SHARE-NAV-BEGIN>                                            10.75
<PER-SHARE-NII>                                                   0.05
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<PER-SHARE-DIVIDEND>                                             (0.02)
<PER-SHARE-DISTRIBUTIONS>                                         0.00
<RETURNS-OF-CAPITAL>                                              0.00
<PER-SHARE-NAV-END>                                               9.86
<EXPENSE-RATIO>                                                   1.60



</TABLE>


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