<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Master Portfolio
form N-SAR for the six months ended June 30, 2000
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 031
<NAME> Standish Fixed Income Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 2,991,114,170
<INVESTMENTS-AT-VALUE> 2,874,599,791
<RECEIVABLES> 153,249,850
<ASSETS-OTHER> 3,533,399
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,031,383,040
<PAYABLE-FOR-SECURITIES> 405,672,648
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,655,021
<TOTAL-LIABILITIES> 411,327,669
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,903,985,039
<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> 716,070,332
<NET-ASSETS> 2,620,055,371
<DIVIDEND-INCOME> 2,166,702
<INTEREST-INCOME> 106,852,645
<OTHER-INCOME> 0
<EXPENSES-NET> 4,877,284
<NET-INVESTMENT-INCOME> 104,142,063
<REALIZED-GAINS-CURRENT> (78,209,183)
<APPREC-INCREASE-CURRENT> 65,139,263
<NET-CHANGE-FROM-OPS> 91,072,143
<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> (291,650,041)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,360,966
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,877,284
<AVERAGE-NET-ASSETS> 2,796,696,432
<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
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.35
</TABLE>
