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

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000810271
<NAME> CONCERT INVESTMENT SERIES
<SERIES>
   <NUMBER> 6
   <NAME> MUNICIPAL FUND. CLASS 1
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-END>                               OCT-31-1998
<INVESTMENTS-AT-COST>                      103,810,469
<INVESTMENTS-AT-VALUE>                     112,777,636
<RECEIVABLES>                                3,044,185
<ASSETS-OTHER>                                  78,792
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             115,900,613
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      467,427
<TOTAL-LIABILITIES>                            467,427
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   104,207,161
<SHARES-COMMON-STOCK>                        6,501,786
<SHARES-COMMON-PRIOR>                        7,328,426
<ACCUMULATED-NII-CURRENT>                      411,409
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,847,449
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     8,967,167
<NET-ASSETS>                               115,433,186
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            6,585,931
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               1,216,165
<NET-INVESTMENT-INCOME>                      5,369,766
<REALIZED-GAINS-CURRENT>                     1,959,166
<APPREC-INCREASE-CURRENT>                      601,222
<NET-CHANGE-FROM-OPS>                        7,930,154
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                    4,582,248
<DISTRIBUTIONS-OF-GAINS>                       973,361
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        571,369
<NUMBER-OF-SHARES-REDEEMED>                  1,792,999
<SHARES-REINVESTED>                            394,990
<NET-CHANGE-IN-ASSETS>                       (269,652)
<ACCUMULATED-NII-PRIOR>                        295,311
<ACCUMULATED-GAINS-PRIOR>                      948,278
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          687,628
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                              1,216,165
<AVERAGE-NET-ASSETS>                        98,015,016
<PER-SHARE-NAV-BEGIN>                            14.21
<PER-SHARE-NII>                                  00.68
<PER-SHARE-GAIN-APPREC>                          00.31
<PER-SHARE-DIVIDEND>                             00.66
<PER-SHARE-DISTRIBUTIONS>                        00.13
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.41
<EXPENSE-RATIO>                                  01.01
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>