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 B
<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>                           161888
<INVESTMENTS-AT-VALUE>                          222947
<RECEIVABLES>                                     1243
<ASSETS-OTHER>                                      41
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  224231
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          815
<TOTAL-LIABILITIES>                                815
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        134225
<SHARES-COMMON-STOCK>                             6582
<SHARES-COMMON-PRIOR>                             9665
<ACCUMULATED-NII-CURRENT>                          200
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          27931
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         61060
<NET-ASSETS>                                    223416
<DIVIDEND-INCOME>                                 2369
<INTEREST-INCOME>                                 1445
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    4767
<NET-INVESTMENT-INCOME>                          (953)
<REALIZED-GAINS-CURRENT>                         27987
<APPREC-INCREASE-CURRENT>                        (990)
<NET-CHANGE-FROM-OPS>                            26044
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                         10630
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            339
<NUMBER-OF-SHARES-REDEEMED>                       2831
<SHARES-REINVESTED>                                302
<NET-CHANGE-IN-ASSETS>                         (54121)
<ACCUMULATED-NII-PRIOR>                             70
<ACCUMULATED-GAINS-PRIOR>                        11174
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             1696
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   4767
<AVERAGE-NET-ASSETS>                            255715
<PER-SHARE-NAV-BEGIN>                            31.72
<PER-SHARE-NII>                                 (0.12)
<PER-SHARE-GAIN-APPREC>                           3.62
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         1.27
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              33.95
<EXPENSE-RATIO>                                   1.95