<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from Fechtor,
Detwiler, Mitchell & Co.'s Form 10-Q and is qualified in its entirety by
reference to such Form 10-Q filing.
</LEGEND>

                             
<PERIOD-TYPE>                   3-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-END>                               SEP-30-2000
<INVESTMENTS-AT-COST>                        1,432,135
<INVESTMENTS-AT-VALUE>                         607,135
<RECEIVABLES>                                6,784,339
<ASSETS-OTHER>                               5,151,126
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              16,773,265
<PAYABLE-FOR-SECURITIES>                     7,813,123
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    2,478,316
<TOTAL-LIABILITIES>                         10,291,439
<SENIOR-EQUITY>                                103,883
<PAID-IN-CAPITAL-COMMON>                     4,597,927
<SHARES-COMMON-STOCK>                       10,388,251
<SHARES-COMMON-PRIOR>                       11,388,251
<ACCUMULATED-NII-CURRENT>                      151,423
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                 6,481,826
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              205,918
<OTHER-INCOME>                                 111,386
<EXPENSES-NET>                               4,270,133
<NET-INVESTMENT-INCOME>                              0
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                                0
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              0
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (853,178)
<ACCUMULATED-NII-PRIOR>                      7,335,004
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                              37,191
<GROSS-EXPENSE>                              4,270,133
<AVERAGE-NET-ASSETS>                         7,667,856
<PER-SHARE-NAV-BEGIN>                              .67
<PER-SHARE-NII>                                   0.01
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                                .62
<EXPENSE-RATIO>                                      0