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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810271
<NAME> CONCERT INVESTMENT SERIES
<SERIES>
   <NUMBER> 2
   <NAME> GROWTH FUND. CLASS 1
       
<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>                      186,668,072
<SHARES-COMMON-PRIOR>                      169,366,980
<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>                   28,824,504
<DISTRIBUTIONS-OF-GAINS>                   572,931,728
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     10,240,715
<NUMBER-OF-SHARES-REDEEMED>                 26,781,677
<SHARES-REINVESTED>                         33,842,054
<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>                     3,786,498,612
<PER-SHARE-NAV-BEGIN>                            20.94
<PER-SHARE-NII>                                 (00.13)
<PER-SHARE-GAIN-APPREC>                          02.10
<PER-SHARE-DIVIDEND>                             00.17
<PER-SHARE-DISTRIBUTIONS>                        03.41
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.59
<EXPENSE-RATIO>                                  00.78
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>