<PAGE>
000 A000000 04/30/98
000 C000000 0001003015
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 INTERNATIONAL EQUITY PORTFOLIO
001 B000000 811-8996
001 C000000 8099494719
002 A000000 BUTTERFIELD HOUSE, FORT STREET, BOX 2330
002 B000000 GEORGE TOWN
002 E010000 CAYMAN ISLANDS, BWI
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
018 000000 Y
019 A000000 N
019 B000000 0
020 A000001 MERRILL LYNCH
020 B000001 13-5674085
020 C000001 34
020 A000002 JAMES CAPEL
020 B000002 52-1348224
020 C000002 18
020 A000003 MORGAN JP
020 B000003 13-3224016
020 C000003 15
020 A000004 SCHRODER
020 B000004 13-2697272
020 C000004 11
020 A000005 HOARE GOVETT ABN
020 C000005 10
020 A000006 MORGAN STANLEY
020 B000006 13-2655998
020 C000006 9
<PAGE>
020 A000007 CASPIAN SECURITIES
020 B000007 13-3834734
020 C000007 9
020 A000008 SALAMON BROTHERS
020 B000008 13-3082694
020 C000008 4
020 A000009 UBS SECURITIES
020 B000009 13-3873456
020 C000009 4
020 A000010 NOMURA SECURITIES
020 B000010 13-2642206
020 C000010 4
021 000000 137
022 A000001 MERRILL LYNCH
022 B000001 13-5674085
022 C000001 6514
022 D000001 10738
022 A000002 JAMES CAPEL
022 B000002 52-1348224
022 C000002 6512
022 D000002 3166
022 A000003 HOARE GOVETT
022 C000003 6169
022 D000003 199
022 A000004 MORGAN JP
022 B000004 13-3224016
022 C000004 3489
022 D000004 1419
022 A000005 SCHRODER SECURITIES
022 B000005 13-2697272
022 C000005 3338
022 D000005 486
022 A000006 MORGAN STANLEY
022 B000006 13-2655998
022 C000006 2013
022 D000006 343
022 A000007 NOMURA SECURITIES
022 B000007 13-2642206
022 C000007 1587
022 D000007 615
022 A000008 UBS SECURITIES
022 B000008 13-3873456
022 C000008 1826
022 D000008 112
022 A000009 DRESDNER BANK
022 C000009 1417
022 D000009 0
022 A000010 SALAMON BROTHERS
022 B000010 13-3082694
022 C000010 750
022 D000010 1346
<PAGE>
023 C000000 36301
023 D000000 20845
024 000000 N
028 A010000 3838
028 A020000 0
028 A030000 0
028 A040000 2
028 B010000 5194
028 B020000 0
028 B030000 0
028 B040000 868
028 C010000 3217
028 C020000 0
028 C030000 0
028 C040000 493
028 D010000 6100
028 D020000 0
028 D030000 0
028 D040000 77
028 E010000 1314
028 E020000 0
028 E030000 0
028 E040000 238
028 F010000 882
028 F020000 0
028 F030000 0
028 F040000 133
028 G010000 20545
028 G020000 0
028 G030000 0
028 G040000 1811
028 H000000 0
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
071 A000000 36531
<PAGE>
071 B000000 21439
071 C000000 53892
071 D000000 39
072 A000000 6
072 B000000 0
072 C000000 331
072 D000000 0
072 E000000 0
072 F000000 197
072 G000000 11
072 H000000 0
072 I000000 0
072 J000000 0
072 K000000 0
072 L000000 0
072 M000000 0
072 N000000 0
072 O000000 0
072 P000000 0
072 Q000000 0
072 R000000 0
072 S000000 0
072 T000000 0
072 U000000 0
072 V000000 0
072 W000000 22
072 X000000 230
072 Y000000 0
072 Z000000 101
072AA000000 0
072BB000000 2358
072CC010000 13438
072CC020000 0
072DD010000 0
072DD020000 0
072EE000000 0
073 A010000 0.0000
073 A020000 0.0000
073 B000000 0.0000
073 C000000 0.0000
074 A000000 8558
074 B000000 0
074 C000000 0
074 D000000 0
074 E000000 0
074 F000000 69357
074 G000000 0
074 H000000 0
074 I000000 0
074 J000000 1269
074 K000000 0
<PAGE>
074 L000000 307
074 M000000 2
074 N000000 79493
074 O000000 3466
074 P000000 42
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 31
074 S000000 0
074 T000000 75954
074 U010000 0
074 U020000 0
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 3
074 Y000000 0
075 A000000 0
075 B000000 60393
076 000000 0.00
077 A000000 N
SIGNATURE SUSAN JAKUBOSKI
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
International Equity Portfolio Semi-Annual Report dated April 30, 1998, and is
qualified in its entirety by reference to such report.
</LEGEND>
<CIK> 0001003015
<NAME> INTERNATIONAL EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 55,689,724
<INVESTMENTS-AT-VALUE> 69,356,946
<RECEIVABLES> 1,576,154
<ASSETS-OTHER> 8,559,451
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 79,492,551
<PAYABLE-FOR-SECURITIES> 3,465,505
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,538,315
<TOTAL-LIABILITIES> 3,538,315
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 62,108,307
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 13,845,929
<NET-ASSETS> 75,954,236
<DIVIDEND-INCOME> 331,196
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 230,299
<NET-INVESTMENT-INCOME> 100,897
<REALIZED-GAINS-CURRENT> (2,358,363)
<APPREC-INCREASE-CURRENT> 13,437,502
<NET-CHANGE-FROM-OPS> 11,180,036
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 29,916,429
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 196,655
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 61,010,705
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 0.76
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
