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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 14
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<PAGE> PAGE 16
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064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 Y
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 Y
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
<PAGE> PAGE 21
070 J010400 Y
070 J020400 Y
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 Y
070 R020400 N
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<PAGE> PAGE 22
072CC020400 3865
072DD010400 0
072DD020400 0
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008 A000501 STANDISH, AYER & WOOD INC.
008 B000501 A
008 C000501 801-584
008 D010501 BOSTON
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008 D030501 02111
015 A000501 INVESTORS BANK & TRUST COMPANY
015 B000501 C
015 C010501 BOSTON
015 C020501 MA
<PAGE> PAGE 23
015 C030501 02110
015 E010501 X
024 000500 N
028 A010500 17
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045 000500 Y
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<PAGE> PAGE 24
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
062 A000500 N
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062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
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062 H000500 0.0
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062 J000500 0.0
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062 M000500 0.0
062 N000500 0.0
062 O000500 0.0
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
066 A000500 Y
066 B000500 N
066 C000500 Y
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 N
<PAGE> PAGE 25
070 C020500 N
070 D010500 Y
070 D020500 Y
070 E010500 N
070 E020500 N
070 F010500 Y
070 F020500 Y
070 G010500 Y
070 G020500 N
070 H010500 Y
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 Y
070 R020500 N
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<PAGE> PAGE 26
072 Q000500 0
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<PAGE> PAGE 27
075 A000500 0
075 B000500 1068
076 000500 0.00
008 A000601 STANDISH INTERNATIONAL MGMT CO,L.P.
008 B000601 A
008 C000601 801-584
008 D010601 BOSTON
008 D020601 MA
008 D030601 02111
015 A000601 INVESTORS BANK AND TRUST CO
015 B000601 C
015 C010601 BOSTON
015 C020601 MA
015 C030601 02111
015 E040601 X
024 000600 N
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045 000600 Y
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<PAGE> PAGE 28
048 B020600 0.000
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<PAGE> PAGE 29
066 C000600 N
066 D000600 N
066 E000600 N
066 F000600 N
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067 000600 N
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070 B020600 N
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070 C020600 Y
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070 E020600 Y
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070 F020600 N
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070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 Y
070 I020600 N
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070 J020600 Y
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070 L020600 Y
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070 R020600 N
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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063 A001700 0
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SIGNATURE KEVIN CONNERTY
TITLE FUND ADMINISTRATOR
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Investment Trust
form N-SAR for the period ended June 30, 1997
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Standish Equity Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 110,342,004
<INVESTMENTS-AT-VALUE> 134,698,499
<RECEIVABLES> 910,005
<ASSETS-OTHER> 77,029
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 135,685,533
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<SENIOR-EQUITY> 0
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<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 20,922,731
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<INTEREST-INCOME> 125,269
<OTHER-INCOME> 0
<EXPENSES-NET> 392,876
<NET-INVESTMENT-INCOME> 655,702
<REALIZED-GAINS-CURRENT> 13,008,478
<APPREC-INCREASE-CURRENT> 7,252,834
<NET-CHANGE-FROM-OPS> 20,917,014
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<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> 26,190,268
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 298,974
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 392,876
<AVERAGE-NET-ASSETS> 120,575,920
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Investment Trust
form N-SAR for the period ended June 30, 1997
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Standish Small Capitalization Equity Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 180,647,901
<INVESTMENTS-AT-VALUE> 222,407,433
<RECEIVABLES> 10,743,384
<ASSETS-OTHER> 74,043
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 233,224,860
<PAYABLE-FOR-SECURITIES> 3,657,425
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 295,834
<TOTAL-LIABILITIES> 3,953,259
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 164,473,594
<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> 64,798,007
<NET-ASSETS> 229,271,601
<DIVIDEND-INCOME> 87,253
<INTEREST-INCOME> 105,849
<OTHER-INCOME> 58,396
<EXPENSES-NET> 792,852
<NET-INVESTMENT-INCOME> (541,354)
<REALIZED-GAINS-CURRENT> 3,544,449
<APPREC-INCREASE-CURRENT> 9,438,978
<NET-CHANGE-FROM-OPS> 12,442,073
<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> (17,380,819)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 679,150
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 792,852
<AVERAGE-NET-ASSETS> 228,255,135
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Investment Trust
form N-SAR for the period ended June 30, 1997
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> Standish Fixed Income Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 2,911,682,012
<INVESTMENTS-AT-VALUE> 2,932,432,989
<RECEIVABLES> 85,022,715
<ASSETS-OTHER> 6,255,434
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,023,711,138
<PAYABLE-FOR-SECURITIES> 136,784,180
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,860,780
<TOTAL-LIABILITIES> 140,644,960
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,946,742,071
<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> (63,675,893)
<NET-ASSETS> 2,883,066,178
<DIVIDEND-INCOME> 2,578,687
<INTEREST-INCOME> 97,127,181
<OTHER-INCOME> 0
<EXPENSES-NET> 4,779,216
<NET-INVESTMENT-INCOME> 94,926,652
<REALIZED-GAINS-CURRENT> 9,955,470
<APPREC-INCREASE-CURRENT> (8,498,564)
<NET-CHANGE-FROM-OPS> 96,383,558
<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> 266,954,589
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,227,888
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,779,216
<AVERAGE-NET-ASSETS> 2,716,950,031
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Investment Trust
form N-SAR for the period ended June 30, 1997
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> Standish Global Fixed Income Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 194,535,079
<INVESTMENTS-AT-VALUE> 195,194,056
<RECEIVABLES> 6,242,764
<ASSETS-OTHER> 2,643,256
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 204,080,076
<PAYABLE-FOR-SECURITIES> 3,140,221
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,188,840
<TOTAL-LIABILITIES> 4,329,061
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 203,882,239
<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> (4,131,224)
<NET-ASSETS> 199,751,015
<DIVIDEND-INCOME> 29,891
<INTEREST-INCOME> 6,676,463
<OTHER-INCOME> 4,655
<EXPENSES-NET> 532,046
<NET-INVESTMENT-INCOME> 6,178,963
<REALIZED-GAINS-CURRENT> 6,475,818
<APPREC-INCREASE-CURRENT> (3,864,648)
<NET-CHANGE-FROM-OPS> 8,790,133
<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> 39,936,517
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 363,462
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 532,046
<AVERAGE-NET-ASSETS> 183,236,891
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.59
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Investment Trust
form N-SAR for the period ended June 30, 1997
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> Standish Small Capitalization Equity II Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 1,752,544
<INVESTMENTS-AT-VALUE> 2,004,581
<RECEIVABLES> 4,006
<ASSETS-OTHER> 491,048
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,499,635
<PAYABLE-FOR-SECURITIES> 240,211
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,006
<TOTAL-LIABILITIES> 247,217
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,009,351
<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> 243,067
<NET-ASSETS> 2,252,418
<DIVIDEND-INCOME> 672
<INTEREST-INCOME> 2,618
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 3,290
<REALIZED-GAINS-CURRENT> 25,055
<APPREC-INCREASE-CURRENT> 243,067
<NET-CHANGE-FROM-OPS> 271,412
<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> 1,768,250
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,177
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 29,560
<AVERAGE-NET-ASSETS> 1,067,959
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 5.58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Investment Trust
form N-SAR for the period ended June 30, 1997
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> Standish Diversified Income Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-END> JUN-30-1997
<INVESTMENTS-AT-COST> 5,410,541
<INVESTMENTS-AT-VALUE> 5,436,893
<RECEIVABLES> 309,535
<ASSETS-OTHER> 396,106
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,142,534
<PAYABLE-FOR-SECURITIES> 324,907
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,490
<TOTAL-LIABILITIES> 330,397
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,775,239
<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> 36,898
<NET-ASSETS> 5,812,137
<DIVIDEND-INCOME> 3,716
<INTEREST-INCOME> 32,343
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 36,059
<REALIZED-GAINS-CURRENT> 13,443
<APPREC-INCREASE-CURRENT> 36,898
<NET-CHANGE-FROM-OPS> 86,400
<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> 5,812,137
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,137
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 11,209
<AVERAGE-NET-ASSETS> 5,830,581
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
