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

 

<ARTICLE> 6
<CIK> 0000703887
<NAME> PAINEWEBBER AMERICA FUND

   <NUMBER> 1
   <NAME> GROWTH AND INCOME - CLASS A
<MULTIPLIER> 1000

                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-2000
<PERIOD-START>                             SEP-01-2000
<PERIOD-END>                               AUG-31-2000
<INVESTMENTS-AT-COST>                           550977
<INVESTMENTS-AT-VALUE>                          758791
<RECEIVABLES>                                     4230
<ASSETS-OTHER>                                     140
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  763161
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         2775
<TOTAL-LIABILITIES>                               2775
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        456828
<SHARES-COMMON-STOCK>                            22007
<SHARES-COMMON-PRIOR>                            26329
<ACCUMULATED-NII-CURRENT>                          681
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          95063
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        207814
<NET-ASSETS>                                    760386
<DIVIDEND-INCOME>                                 8063
<INTEREST-INCOME>                                 4917
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    9536
<NET-INVESTMENT-INCOME>                           3444
<REALIZED-GAINS-CURRENT>                         95253
<APPREC-INCREASE-CURRENT>                       (3369)
<NET-CHANGE-FROM-OPS>                            95328
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         1434
<DISTRIBUTIONS-OF-GAINS>                         31968
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           1799
<NUMBER-OF-SHARES-REDEEMED>                       7962
<SHARES-REINVESTED>                                961
<NET-CHANGE-IN-ASSETS>                        (112626)
<ACCUMULATED-NII-PRIOR>                            194
<ACCUMULATED-GAINS-PRIOR>                        30778
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             5774
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   9536
<AVERAGE-NET-ASSETS>                            806111
<PER-SHARE-NAV-BEGIN>                            32.07
<PER-SHARE-NII>                                   0.14
<PER-SHARE-GAIN-APPREC>                           3.67
<PER-SHARE-DIVIDEND>                              0.06
<PER-SHARE-DISTRIBUTIONS>                         1.27
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              34.55
<EXPENSE-RATIO>                                   1.15