<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000092751
<NAME> SPECTRA FUND CLASS A
<SERIES>
<NUMBER> 1
<NAME> SPECTRA FUND CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-END> OCT-31-2000
<INVESTMENTS-AT-COST> 925811149
<INVESTMENTS-AT-VALUE> 976962171
<RECEIVABLES> 29648568
<ASSETS-OTHER> 329458
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1006940197
<PAYABLE-FOR-SECURITIES> 73093551
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43003661
<TOTAL-LIABILITIES> 116097212
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 816500991
<SHARES-COMMON-STOCK> 1384394
<SHARES-COMMON-PRIOR> 79026111
<ACCUMULATED-NII-CURRENT> (20915249)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 44106221
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 51151022
<NET-ASSETS> 890842985
<DIVIDEND-INCOME> 1239430
<INTEREST-INCOME> 3713859
<OTHER-INCOME> 0
<EXPENSES-NET> 17010417
<NET-INVESTMENT-INCOME> (12057128)
<REALIZED-GAINS-CURRENT> 40829147
<APPREC-INCREASE-CURRENT> (78674225)
<NET-CHANGE-FROM-OPS> (49902206)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1409453
<NUMBER-OF-SHARES-REDEEMED> 25061
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 342187427
<ACCUMULATED-NII-PRIOR> (8858121)
<ACCUMULATED-GAINS-PRIOR> 53199123
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 13986854
<INTEREST-EXPENSE> 4104
<GROSS-EXPENSE> 17010417
<AVERAGE-NET-ASSETS> 8904038
<PER-SHARE-NAV-BEGIN> 12.28
<PER-SHARE-NII> (.02)
<PER-SHARE-GAIN-APPREC> (1.63)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.63
<EXPENSE-RATIO> 1.82
</TABLE>
