EAI SELECT MANAGERS EQUITY FUND
NSAR-B, 1999-08-25
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<PAGE>      PAGE  1
000 B000000 06/30/99
000 C000000 0001002403
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 EAI SELECT MANAGERS EQUITY FUND
001 B000000 811-09112
001 C000000 2126875200
002 A000000 99 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10016
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
019 B000000    0
020 A000001 PRUDENTIAL BACH
020 C000001      4
020 A000002 PAINE WEBBER
020 C000002      4
020 A000003 DONALDSON LUFKIN
020 C000003      3
020 A000004 J.P. MORGAN
020 C000004      3
020 A000005 OPPENHIEMER
020 C000005      3
020 A000006 BEAR STERNS
020 C000006      2
020 A000007 BRIDGE TRADING
020 C000007      2
020 A000008 MORGAN STANLEY
020 C000008      1
020 A000009 SALOMON SMITH BARNEY
020 C000009      1
<PAGE>      PAGE  2
020 A000010 SCHRODER SECURITIES
020 C000010      1
021  000000       50
022 A000001 BOSTON SAFE DEPOSIT
022 C000001    182890
022 D000001         0
022 A000002 MERRILL LYNCH PIERCE FENNER & SMITH
022 C000002       822
022 D000002       849
022 A000003 DONALDSON LUFKIN JENRETTE INC.
022 C000003       859
022 D000003       371
022 A000004 GOLDMAN SACHS
022 C000004       395
022 D000004       810
022 A000005 MORGAN STANLEY
022 C000005       444
022 D000005        63
022 A000006 FIRST BOSTON
022 C000006       451
022 D000006        37
022 A000007 LEHMAN BROTHERS
022 C000007       365
022 D000007        64
022 A000008 FURMAN SELZ
022 C000008       399
022 D000008         0
022 A000009 OPOC INC
022 C000009       293
022 D000009         0
022 A000010 BT ALEX BROWN
022 C000010       279
022 D000010         0
023 C000000     188189
023 D000000       2867
024  000000 N
025 D000001       0
025 D000002       0
025 D000003       0
025 D000004       0
025 D000005       0
025 D000006       0
025 D000007       0
025 D000008       0
027  000000 Y
028 A010000       173
028 A020000         0
028 A030000         0
028 A040000        76
028 B010000       138
028 B020000         0
<PAGE>      PAGE  3
028 B030000         0
028 B040000      4850
028 C010000       293
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028 C030000         0
028 C040000       981
028 D010000        68
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028 D030000         0
028 D040000       360
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028 E030000         0
028 E040000       684
028 F010000        30
028 F020000      6467
028 F030000         0
028 F040000       678
028 G010000       840
028 G020000      6467
028 G030000         0
028 G040000      7629
028 H000000         0
029  000000 N
030 A000000      0
030 B000000  0.00
030 C000000  0.00
031 A000000      0
031 B000000      0
032  000000      0
033  000000      0
035  000000      0
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038  000000      0
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042 H000000   0
043  000000      0
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048  000000  0.000
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
<PAGE>      PAGE  4
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
061  000000    50000
062 A000000 N
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
062 E000000   0.0
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   0.0
062 M000000   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000   0.0
062 Q000000   0.0
062 R000000   0.0
063 A000000   0
063 B000000  0.0
066 A000000 N
071 A000000     27137
071 B000000     31672
071 C000000     57311
071 D000000   48
072 A000000  6
072 B000000       30
072 C000000      264
072 D000000        0
072 E000000        0
072 F000000      261
072 G000000       57
072 H000000        0
072 I000000       16
<PAGE>      PAGE  5
072 J000000       22
072 K000000        0
072 L000000       15
072 M000000        7
072 N000000        7
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072 P000000        0
072 Q000000        0
072 R000000       13
072 S000000       16
072 T000000        0
072 U000000       20
072 V000000        0
072 W000000       30
072 X000000      464
072 Y000000      137
072 Z000000      -33
072AA000000     8640
072BB000000        0
072CC010000        0
072CC020000     1178
072DD010000        0
072DD020000        0
072EE000000        0
073 A010000   0.0000
073 A020000   0.0000
073 B000000   0.0000
073 C000000   0.0000
074 A000000       22
074 B000000     1483
074 C000000        0
074 D000000        0
074 E000000        0
074 F000000    57195
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000      421
074 K000000        0
074 L000000       38
074 M000000       62
074 N000000    59221
074 O000000       15
074 P000000       63
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000       67
074 S000000        0
074 T000000    59076
<PAGE>      PAGE  6
074 U010000     5051
074 U020000        0
074 V010000    11.69
074 V020000     0.00
074 W000000   0.0000
074 X000000       38
074 Y000000        0
075 A000000        0
075 B000000    57311
076  000000     0.00
077 A000000 Y
077 B000000 Y
080 A000000 NATIONAL UNION FIRE INSURANCE COMPANY
080 C000000     5000
081 A000000 N
081 B000000   0
082 A000000 Y
082 B000000       10
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
SIGNATURE   PETER GWIAZDOWSKI
TITLE       TREASURER

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

<TABLE> <S> <C>


<ARTICLE>                                            6

<S>                                            <C>
<PERIOD-TYPE>                                  6-MOS
<FISCAL-YEAR-END>                              JUN-30-1999
<PERIOD-START>                                 JAN-01-1998
<PERIOD-END>                                   JUN-30-1999
<INVESTMENTS-AT-COST>                             43,950,430
<INVESTMENTS-AT-VALUE>                            58,677,783
<RECEIVABLES>                                        459,083
<ASSETS-OTHER>                                        84,319
<OTHER-ITEMS-ASSETS>                                       0
<TOTAL-ASSETS>                                    59,221,185
<PAYABLE-FOR-SECURITIES>                              15,000
<SENIOR-LONG-TERM-DEBT>                                    0
<OTHER-ITEMS-LIABILITIES>                            130,458
<TOTAL-LIABILITIES>                                  145,458
<SENIOR-EQUITY>                                            0
<PAID-IN-CAPITAL-COMMON>                          35,853,799
<SHARES-COMMON-STOCK>                              5,051,433
<SHARES-COMMON-PRIOR>                              5,387,357
<ACCUMULATED-NII-CURRENT>                                  0
<OVERDISTRIBUTION-NII>                               (32,981)
<ACCUMULATED-NET-GAINS>                            8,527,556
<OVERDISTRIBUTION-GAINS>                                   0
<ACCUM-APPREC-OR-DEPREC>                          14,727,353
<NET-ASSETS>                                      59,075,727
<DIVIDEND-INCOME>                                    263,724
<INTEREST-INCOME>                                     30,128
<OTHER-INCOME>                                             0
<EXPENSES-NET>                                       326,833
<NET-INVESTMENT-INCOME>                              (32,981)
<REALIZED-GAINS-CURRENT>                           8,640,260
<APPREC-INCREASE-CURRENT>                         (1,177,729)
<NET-CHANGE-FROM-OPS>                              7,429,550
<EQUALIZATION>                                             0
<DISTRIBUTIONS-OF-INCOME>                                  0
<DISTRIBUTIONS-OF-GAINS>                                   0
<DISTRIBUTIONS-OTHER>                                      0
<NUMBER-OF-SHARES-SOLD>                              366,850
<NUMBER-OF-SHARES-REDEEMED>                          702,774
<SHARES-REINVESTED>                                        0
<NET-CHANGE-IN-ASSETS>                             3,626,543
<ACCUMULATED-NII-PRIOR>                                    0
<ACCUMULATED-GAINS-PRIOR>                                  0
<OVERDISTRIB-NII-PRIOR>                                    0
<OVERDIST-NET-GAINS-PRIOR>                          (112,704)
<GROSS-ADVISORY-FEES>                                261,466
<INTEREST-EXPENSE>                                         0
<GROSS-EXPENSE>                                      463,784
<AVERAGE-NET-ASSETS>                              57,311,488
<PER-SHARE-NAV-BEGIN>                                  10.29
<PER-SHARE-NII>                                        (0.07)
<PER-SHARE-GAIN-APPREC>                                 1.47
<PER-SHARE-DIVIDEND>                                    0.00
<PER-SHARE-DISTRIBUTIONS>                               0.00
<RETURNS-OF-CAPITAL>                                    0.00
<PER-SHARE-NAV-END>                                    11.69
<EXPENSE-RATIO>                                         1.15
[AVG-DEBT-OUTSTANDING]                                     0
[AVG-DEBT-PER-SHARE]                                       0



</TABLE>


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