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TITLE ANALYST
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<NET-CHANGE-IN-ASSETS> 45153940
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 217095
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1170942
<AVERAGE-NET-ASSETS> 113670502
<PER-SHARE-NAV-BEGIN> 10.63
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 2.93
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0.06
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.44
<EXPENSE-RATIO> 1.02
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
The Board of Trustees
Republic Advisor Funds Trust
In planning and performing our audit
of the financial statements of Republic
Advisor Funds Trust, for the year ended
October 31, 1997, we considered its
internal control,including control
activities for safeguarding securities, in
order to determine our auditing procedures
for the purpose of expressing our
opinion on the financial statements and to
comply with the requirements of Form
N-SAR, not to provide assurance on internal
control.
The management of the Republic Advisor
Funds Trust is responsible for
establishing and maintaining internal
control. In fulfilling this
responsibility, estimates and judgements
by management are required to assess
the expected benefits and related costs of
controls. Generally, controls that
are relevant to an audit pertain to the
entitity's objective of preparing
financial statements for external purposes
that are fairly presented in
conformity with generally accepted
accounting principles. Those controls
include the safeguarding of assets
against unauthorized acquisitions, use or
disposition.
Because of inherent limitations in
internal control, errors or irregularities
may occur and not be detected. Also,
projection of any evaluation of internal
control to future periods is subject to
the risks that it may become inadequate
because of changes in conditions or that
the effectiveness of the design and
operation may deteriorate.
Our consideration of the internal control
would not necessarily disclose all
matters in the internal control that
might be material weaknesses under
standards established by the American
Institute of Certified Public
Accountants. A material weakness is a
condition in which the design or
operation of one or more of the internal
control components does not reduce
to a relatively low level the risk that
errors or irregularities in amounts
that would be material in relation to
the financial statements being audited
may occur and not be detected within a
timely period by employees in the
normal course of performing their
assigned functions. However, we noted no
matters involving the internal control
and its operation, including controls
for safeguarding securities, that we
consider to be material weaknesses
as defined above as of October 31, 1997.
This report is intended solely for the
information and use of management, the
Board of Trustees of Republic Advisor
Funds Trust and the Securities and
Exchange Commission.
KPMG Peat Marwick LLP
Boston, Massachusett
December 29, 1997
