KEYSTONE INSTITUTIONAL TRUST
NSAR-A, 1997-03-03
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<PAGE>      PAGE  1
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<PAGE>      PAGE  2
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<PAGE>      PAGE  3
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<PAGE>      PAGE  9
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SIGNATURE   J. KEVIN KENELY                              
TITLE       VP FUND ADMIN       
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER>	101
<NAME>	KEYSTONE INSTITUTIONAL SMALL CAP GROWTH FUND CLASS A
<PERIOD-TYPE>	6-MOS
<FISCAL-YEAR-END>	JUN-30-1997
<PERIOD-START>	JUL-01-1996
<PERIOD-END>	DEC-31-1996
<INVESTMENTS-AT-COST>	2,166,707
<INVESTMENTS-AT-VALUE>	2,544,649
<RECEIVABLES>	14,577
<ASSETS-OTHER>	16,794
<OTHER-ITEMS-ASSETS>	0
<TOTAL-ASSETS>	2,576,020
<PAYABLE-FOR-SECURITIES>	0
<SENIOR-LONG-TERM-DEBT>	0
<OTHER-ITEMS-LIABILITIES>	47,643
<TOTAL-LIABILITIES>	47,643
<SENIOR-EQUITY>	0
<PAID-IN-CAPITAL-COMMON>	2,134,000
<SHARES-COMMON-STOCK>	212,943
<SHARES-COMMON-PRIOR>	210,000
<ACCUMULATED-NII-CURRENT>	29,602
<OVERDISTRIBUTION-NII>	0
<ACCUMULATED-NET-GAINS>	0
<OVERDISTRIBUTION-GAINS>	(13,167)
<ACCUM-APPREC-OR-DEPREC>	377,942
<NET-ASSETS>	2,528,377
<DIVIDEND-INCOME>	1,587
<INTEREST-INCOME>	2,959
<OTHER-INCOME>	0
<EXPENSES-NET>	(11,865)
<NET-INVESTMENT-INCOME>	(7,319)
<REALIZED-GAINS-CURRENT>	29,845
<APPREC-INCREASE-CURRENT>	61,650
<NET-CHANGE-FROM-OPS>	84,176
<EQUALIZATION>	0
<DISTRIBUTIONS-OF-INCOME>	0
<DISTRIBUTIONS-OF-GAINS>	(35,700)
<DISTRIBUTIONS-OTHER>	0
<NUMBER-OF-SHARES-SOLD>	0
<NUMBER-OF-SHARES-REDEEMED>	0
<SHARES-REINVESTED>	0
<NET-CHANGE-IN-ASSETS>	82,476
<ACCUMULATED-NII-PRIOR>	36,922
<ACCUMULATED-GAINS-PRIOR>	0
<OVERDISTRIB-NII-PRIOR>	0
<OVERDIST-NET-GAINS-PRIOR>	(7,313)
<GROSS-ADVISORY-FEES>	9,479
<INTEREST-EXPENSE>	0
<GROSS-EXPENSE>	(11,865)
<AVERAGE-NET-ASSETS>	2,343,841
<PER-SHARE-NAV-BEGIN>	11.65
<PER-SHARE-NII>	(0.04)
<PER-SHARE-GAIN-APPREC>	0.43
<PER-SHARE-DIVIDEND>	0.00
<PER-SHARE-DISTRIBUTIONS>	(0.17)
<RETURNS-OF-CAPITAL>	0.00
<PER-SHARE-NAV-END>	11.87
<EXPENSE-RATIO>	1.00
<AVG-DEBT-OUTSTANDING>	0
<AVG-DEBT-PER-SHARE>	0

</TABLE>


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