WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

<ARTICLE>       6
<SERIES>
   <NUMBER> 5
   <NAME> BELAIR CAPITAL FUND


                             
<PERIOD-TYPE>                              9-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-END>                               SEP-30-1999
<INVESTMENTS-AT-COST>                      2,272,347,422
<INVESTMENTS-AT-VALUE>                     2,479,188,542
<RECEIVABLES>                              14,739,550
<ASSETS-OTHER>                             366,343
<OTHER-ITEMS-ASSETS>                       25,914,000
<TOTAL-ASSETS>                             2,520,208,495
<PAYABLE-FOR-SECURITIES>                   0
<SENIOR-LONG-TERM-DEBT>                    645,000,000
<OTHER-ITEMS-LIABILITIES>                  6,021,948
<TOTAL-LIABILITIES>                        651,021,948
<SENIOR-EQUITY>                            0
<PAID-IN-CAPITAL-COMMON>                   1,716,881,706
<SHARES-COMMON-STOCK>                      16,053,481
<SHARES-COMMON-PRIOR>                      16,568,833
<ACCUMULATED-NII-CURRENT>                  19,902
<OVERDISTRIBUTION-NII>                     0
<ACCUMULATED-NET-GAINS>                    (63,089,652)
<OVERDISTRIBUTION-GAINS>                   0
<ACCUM-APPREC-OR-DEPREC>                   215,374,591
<NET-ASSETS>                               1,869,186,547
<DIVIDEND-INCOME>                          48,433,889
<INTEREST-INCOME>                          4,176,136
<OTHER-INCOME>                             0
<EXPENSES-NET>                             47,286,935
<NET-INVESTMENT-INCOME>                    5,323,090
<REALIZED-GAINS-CURRENT>                   (8,001,500)
<APPREC-INCREASE-CURRENT>                  2,014,396
<NET-CHANGE-FROM-OPS>                      (664,014)
<EQUALIZATION>                             0
<DISTRIBUTIONS-OF-INCOME>                  0
<DISTRIBUTIONS-OF-GAINS>                   0
<DISTRIBUTIONS-OTHER>                      0
<NUMBER-OF-SHARES-SOLD>                    0
<NUMBER-OF-SHARES-REDEEMED>                (515,352)
<SHARES-REINVESTED>                        0
<NET-CHANGE-IN-ASSETS>                     (63,661,825)
<ACCUMULATED-NII-PRIOR>                    (5,303,188)
<ACCUMULATED-GAINS-PRIOR>                  (55,088,152)
<OVERDISTRIB-NII-PRIOR>                    0
<OVERDIST-NET-GAINS-PRIOR>                 0
<GROSS-ADVISORY-FEES>                      4,847,333
<INTEREST-EXPENSE>                         31,540,823
<GROSS-EXPENSE>                            47,286,935
<AVERAGE-NET-ASSETS>                       1,997,919,000
<PER-SHARE-NAV-BEGIN>                      116.66
<PER-SHARE-NII>                            0.334
<PER-SHARE-GAIN-APPREC>                    (0.564)
<PER-SHARE-DIVIDEND>                       0
<PER-SHARE-DISTRIBUTIONS>                  0
<RETURNS-OF-CAPITAL>                       0
<PER-SHARE-NAV-END>                        116.43
<EXPENSE-RATIO>                            3.16
[AVG-DEBT-OUTSTANDING]                     0
[AVG-DEBT-PER-SHARE]                       0