[ARTICLE] 6
[CIK] 0000810271
[NAME] CONCERT INVESTMENT SERIES
[SERIES]
   [NUMBER] 2
   [NAME] GROWTH FUND. CLASS B
<TABLE>
<S>                             <C>
[PERIOD-TYPE]                   YEAR
[FISCAL-YEAR-END]                          OCT-31-1998
[PERIOD-END]                               OCT-31-1998
[INVESTMENTS-AT-COST]                    3,238,491,562
[INVESTMENTS-AT-VALUE]                   4,024,628,163
[RECEIVABLES]                                8,162,832
[ASSETS-OTHER]                             303,085,009
[OTHER-ITEMS-ASSETS]                                 0
[TOTAL-ASSETS]                           4,335,876,004
[PAYABLE-FOR-SECURITIES]                     6,553,009
[SENIOR-LONG-TERM-DEBT]                              0
[OTHER-ITEMS-LIABILITIES]                  310,764,135
[TOTAL-LIABILITIES]                        317,317,144
[SENIOR-EQUITY]                                      0
[PAID-IN-CAPITAL-COMMON]                 2,846,885,958
[SHARES-COMMON-STOCK]                        9,382,856
[SHARES-COMMON-PRIOR]                        6,083,077
[ACCUMULATED-NII-CURRENT]                   18,724,593
[OVERDISTRIBUTION-NII]                               0
[ACCUMULATED-NET-GAINS]                    352,711,708
[OVERDISTRIBUTION-GAINS]                             0
[ACCUM-APPREC-OR-DEPREC]                   800,236,601
[NET-ASSETS]                             4,018,558,860
[DIVIDEND-INCOME]                           37,539,577
[INTEREST-INCOME]                           20,159,296
[OTHER-INCOME]                               (234,468)
[EXPENSES-NET]                              33,672,559
[NET-INVESTMENT-INCOME]                     23,791,846
[REALIZED-GAINS-CURRENT]                   363,421,052
[APPREC-INCREASE-CURRENT]                   83,970,624
[NET-CHANGE-FROM-OPS]                      471,183,522
[EQUALIZATION]                                       0
[DISTRIBUTIONS-OF-INCOME]                            0
[DISTRIBUTIONS-OF-GAINS]                    21,415,897
[DISTRIBUTIONS-OTHER]                                0
[NUMBER-OF-SHARES-SOLD]                      3,470,083
[NUMBER-OF-SHARES-REDEEMED]                  1,381,729
[SHARES-REINVESTED]                          1,211,425
[NET-CHANGE-IN-ASSETS]                     236,689,746
[ACCUMULATED-NII-PRIOR]                     22,702,297
[ACCUMULATED-GAINS-PRIOR]                  603,678,844
[OVERDISTRIB-NII-PRIOR]                              0
[OVERDIST-NET-GAINS-PRIOR]                           0
[GROSS-ADVISORY-FEES]                       23,343,634
[INTEREST-EXPENSE]                                   0
[GROSS-EXPENSE]                             33,672,559
[AVERAGE-NET-ASSETS]                       159,528,059
[PER-SHARE-NAV-BEGIN]                            20.75
[PER-SHARE-NII]                                 (00.11)
[PER-SHARE-GAIN-APPREC]                          02.14
[PER-SHARE-DIVIDEND]                             00.00
[PER-SHARE-DISTRIBUTIONS]                        03.41
[RETURNS-OF-CAPITAL]                                 0
[PER-SHARE-NAV-END]                              19.37
[EXPENSE-RATIO]                                  01.75
[AVG-DEBT-OUTSTANDING]                               0
[AVG-DEBT-PER-SHARE]                                 0
</TABLE>