CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS
We consent to the references to our firm under the captions "Financial
Highlights" for Stein Roe Institutional Client High Yield Fund (one of the
series comprising Liberty-Stein Roe Funds Trust, formerly, Stein Roe Trust) in
the Stein Roe Institutional Client Funds Prospectus and "Independent Auditors"
and "Financial Statements" in the Liberty-Stein Roe Funds Trust Statement of
Additional Information and to the incorporation by reference in Post-Effective
Amendment Number 6 to the Registration Statement (Form N-1A, No. 333-19181) of
our report dated August 18, 2000 on the financial statements and financial
highlights of Stein Roe Institutional Client High Yield Fund (one of the series
comprising Liberty-Stein Roe Funds Trust) and SR&F High-Yield Portfolio (one of
the series comprising SR&F Base Trust) included in the Stein Roe Mutual Funds
Annual Report dated June 30, 2000.
ERNST & YOUNG LLP
Boston, Massachusetts
October 24, 2000
