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Registration Nos. 333-17217
811-07953
AS FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON MARCH 5, 1998.
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM N-1A
REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933 /x/
Pre-Effective Amendment No. / /
Post-Effective Amendment No. 5 /x/
and/or
REGISTRATION STATEMENT UNDER THE
INVESTMENT COMPANY ACT OF 1940 /x/
Amendment No. 7 /x/
(Check appropriate box or boxes)
EQ ADVISORS TRUST
(formerly 787 Trust)
(Exact name of registrant as specified in charter)
1290 Avenue of the Americas
New York, New York 10104
(Address of principal executive offices)
Registrant's Telephone Number, including area code: (212) 554-1234
Peter D. Noris, Executive Vice President and
Chief Investment Officer
The Equitable Life Assurance Society of the United States
1290 Avenue of the Americas
New York, New York 10104
(Name and address of agent for service)
Please send copies of all communications to:
Jane A. Kanter Mary P. Breen
Dechert Price & Rhoads Vice President & Associate General Counsel
1775 Eye Street, N.W. The Equitable Life Assurance Society of
Washington, D.C. 20006-2401 the United States
1290 Avenue of the Americas
New York, New York 10104
It is proposed that this filing will become effective:
X immediately upon filing pursuant to paragraph (b)
____ on [date] pursuant to paragraph (b)
____ 60 days after filing pursuant to paragraph (a)
____ on [date] pursuant to paragraph (a) of Rule 485
____ 75 days after filing pursuant to paragraph (a)
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EQ ADVISORS TRUST
Contents of Registration Statement
This registration statement consists of the following papers and documents:
Cover Sheet
Contents of Registration Statement
Cross Reference Sheet
Part A - Prospectuses
Part B - Statement of Additional Information
Part C - Other Information
Signature Page
Exhibits
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EQ ADVISORS TRUST
CROSS REFERENCE SHEET
POST-EFFECTIVE AMENDMENT NO. 5
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PART A. ITEM NO. AND CAPTIONS CAPTION IN PROSPECTUS
1. Cover Page Cover Page
2. Synopsis Not Applicable
3. Condensed Financial Information Not Applicable
4. General Description of Registrant The Trust; Description of the Trust
and Trust's Shares -- The Trust
5. Management of the Fund Management of the Trust
5A. Management's Discussion of Fund Performance Not Applicable
6. Capital Stock and Other Securities Dividends, Distributions And Taxes
7. Purchase of Securities Being Offered Description of the Trust and Trust's Shares -
Purchase and Redemption of Shares
8. Redemption or Repurchase Description of the Trust and Trust's Shares -
Purchase and Redemption of Shares
9. Pending Legal Proceedings Not Applicable
PART B. ITEM NO. AND CAPTIONS CAPTION IN STATEMENT OF ADDITIONAL INFORMATION
10. Cover Page Cover Page
11. Table of Contents Table of Contents
12. General Information and History General Information and History
13. Investment Objectives and Policies Description of Certain Securities In Which the
Portfolios May Invest; Investment Restrictions
14. Management of the Fund Management of the Trust
15. Control Persons and Principal Holders of General Information and History
Securities
16. Investment Advisory and Other Services Investment Management and Other Services
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17. Brokerage Allocation and Other Practices Brokerage Allocation
18. Capital Stock and Other Securities General Information and History
19. Purchase, Redemption, and Pricing of Securities Purchase and Pricing of Securities; Redemption
Being Offered of Shares
20. Tax Status Certain Tax Considerations
21. Underwriters Investment Management and Other Services
22. Calculation of Performance Data Not Applicable
23. Financial Statements Financial Statements
PART C Information required to be included in Part C is set forth
under the appropriate item, so numbered, in Part C of this
Registration Statement.
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<PAGE>
PARTS A and B
Pursuant to Rule 411 under the Securities Act of 1933, as amended, and Rules
0-4 and 8b-23 under the Investment Company Act of 1940, as amended, the
information required to be included in Part A and Part B of this Registration
Statement is incorporated by reference to the Prospectuses dated December 31,
1997, the Prospectuses dated May 1, 1997 and related supplements dated August
28, 1997 and December 31, 1997, and the Statement of Additional Information
dated December 31, 1997 as filed in electronic format via EDGAR with the
Securities and Exchange Commission on January 28, 1998 (File Nos. 333-17217 and
811-07953). In addition, the Registrant's audited Annual Report is incorporated
herein by reference to the audited Annual Report for the fiscal year ending
December 31, 1997, as filed in electronic format via EDGAR with the Securities
and Exchange Commission (File No. 811-07953). This Amendment does not delete,
amend, or supersede any information contained in those documents, except to
the extent provided herein.
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EQ ADVISORS TRUST
SUPPLEMENT DATED FEBRUARY 28, 1998 TO THE PROSPECTUS DATED DECEMBER 31, 1997
AND TO THE PROSPECTUS DATED MAY 1, 1997 AND RELATED SUPPLEMENTS DATED
AUGUST 28, 1997 AND DECEMBER 31, 1997
This Supplement updates certain information contained in the above-dated
Prospectus of the EQ Advisors Trust ("Trust") with respect to the Morgan
Stanley Emerging Markets Equity Portfolio ("Portfolio"). You may obtain an
additional copy of the Prospectus, free of charge, by writing to the Trust at
1290 Avenue of the Americas, New York, New York 10104.
The following information with respect to the Portfolio should be considered to
be included in the Prospectus under the section entitled "Financial
Highlights."
FINANCIAL HIGHLIGHTS
The financial information in the table below for the period August 20, 1997**
to December 31, 1997 is audited by Price Waterhouse LLP. The Annual Report of
the Trust, which contains other financial information, is incorporated by
reference into the Trust's Statement of Additional Information and is
available without charge upon request.
MORGAN STANLEY EMERGING MARKETS EQUITY PORTFOLIO:
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CLASS IB
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Net asset value, beginning of period....................................................... $10.00
------
INCOME FROM INVESTMENT OPERATIONS:
Net investment income................................................................... 0.04
Net realized and unrealized gain (loss) on investments and
foreign currency transactions......................................................... (2.06)
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Total from investment operations........................................................ (2.02)
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LESS DISTRIBUTIONS:
Dividends from net investment income.................................................... (0.02)
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Net asset value, end of period............................................................. $7.96
=====
Total return (b)........................................................................... (20.16)%
=======
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000's).......................................................... $21,433
Ratio of expenses to average net assets after waivers (a).................................. 1.75%
Ratio of expenses to average net assets before waivers (c) (a)............................. 2.61%
Ratio of net investment income to average net assets after waivers (a)..................... 1.96%
Ratio of net investment income to average net assets before waivers (c) (a)................ 1.10%
Portfolio turnover rate.................................................................... .25%
Average commission rate paid............................................................... $0.0011
Effect of voluntary expense limitation during the period: (c)
Per share benefit to net investment income............................................ $0.02
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** Commencement of Operations
(a) Annualized
(b) Total return is not annualized
(c) For further information concerning fee waivers, see the section
entitled "Expenses Limitation Agreements" of the Prospectus.
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EQ ADVISORS TRUST
SUPPLEMENT DATED FEBRUARY 28, 1998 TO THE STATEMENT OF ADDITIONAL INFORMATION
This Supplement updates certain financial information contained in the
above-dated Statement of Additional Information ("SAI") of the EQ Advisors
Trust ("Trust"). You may obtain an additional copy of the SAI, free of charge,
by writing to the Trust at 1290 Avenue of the Americas, New York, New York
10104.
The Annual Report of the Trust, which either has been provided to you or which
accompanies the SAI, should be considered to be part of the SAI for purposes of
including or updating the financial information concerning each of the
Portfolios in the SAI. Such information should be considered to be inserted
immediately following the section entitled "Financial Statements" in the SAI.
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PART C: OTHER INFORMATION
Item 24. Financial Statements and Exhibits
(a) Financial Statements: The information in response to Item 24 (b) is
incorporated herein by reference from the filing of the unaudited
Semi-Annual Report for the Trust for fiscal period ended June 30, 1997
and the audited Annual Report for the Trust for the fiscal year ended
December 31, 1997.
Part A - Prospectus:
Financial Highlights
Part B - Statement of Additional Information:
Audited Annual Report for the fiscal year ending December 31,
1997.
(b) Exhibits:
1(a). Agreement and Declaration of Trust.(1)
1(b). Amended and Restated Agreement and Declaration of Trust.(2)
1(c). Certificate of Trust.(1)
1(d). Certificate of Amendment.(2)
2. By-Laws of the Trust.(1)
3. Not applicable.
4. None other than Exhibit 1.
5(a)(1). Investment Management Agreement between EQ Advisors Trust and
EQ Financial Consultants, Inc. dated April 14, 1997 and
Appendices A and B dated April 14, 1997.(4)
5(a)(2). Amendment No. 1 dated December 9, 1997 to Investment
Management Agreement between EQ Advisors Trust and EQ
Financial Consultants, Inc. dated April 14, 1997 and
Appendices A and B dated April 14, 1997.(7)
5(b). Investment Advisory Agreement between EQ Financial
Consultants, Inc. and T. Rowe Price Associates, Inc. dated
April, 1997 and Appendix A dated April, 1997.(4)
5(c). Investment Advisory Agreement between EQ Financial
Consultants, Inc. and Rowe Price-Fleming International, Inc.
dated April, 1997 and Appendix A dated April, 1997.(4)
5(d). Investment Advisory Agreement between, EQ Financial
Consultants, Inc. and Putnam Investment Management, Inc.
dated April, 1997 and Appendix A dated April, 1997.(4)
5(e). Investment Advisory Agreement between, EQ Financial
Consultants, Inc. and Massachusetts Financial Services
Company dated April, 1997 and Appendix A dated April, 1997.(4)
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5(f). Investment Advisory Agreement between EQ Financial
Consultants, Inc. and Morgan Stanley Asset Management Inc.
dated April, 1997 and Appendix A dated April, 1997.(4)
5(g). Investment Advisory Agreement between EQ Financial
Consultants, Inc. and Warburg, Pincus Counsellors, Inc. dated
April, 1997 and Appendix A dated April, 1997.(4)
5(h). Investment Advisory Agreement between EQ Financial
Consultants, Inc. and Merrill Lynch Asset Management, L.P.
dated April, 1997 and Appendix A dated April, 1997.(4)
5(i) Investment Advisory Agreement between EQ Financial
Consultants, Inc. and Lazard Freres & Co. LLC dated December
9, 1997.(7)
5(j) Investment Advisory Agreement between EQ Financial
Consultants, Inc. and J.P. Morgan Investment Management, Inc.
dated December 9, 1997 and Appendix A dated December 9,
1997.(7)
5(k) Investment Advisory Agreement between EQ Financial
Consultants, Inc. and Bankers Trust Global Investment
Management, a unit of Bankers Trust Company, dated December
9, 1997.(7)
6(a)(1). Distribution Agreement between EQ Advisors Trust and EQ
Financial Consultants, Inc. with respect to the Class IA
shares dated April 14, 1997 and Schedule A dated April 14,
1997.(4)
6(a)(2). Amendment No. 1 dated December 9, 1997 to the Distribution
Agreement between EQ Advisors Trust and EQ Financial
Consultants, Inc. with respect to the Class IA shares dated
April 14, 1997 and Schedule A dated April 14, 1997.(7)
6(b)(1). Distribution Agreement between EQ Advisors Trust and EQ
Financial Consultants, Inc. with respect to the Class IB
shares dated April 14, 1997 and Schedule A dated April 14,
1997.(4)
6(b)(2). Amendment No. 1 dated December 9, 1997 to the Distribution
Agreement between EQ Advisors Trust and EQ Financial
Consultants, Inc. with respect to the Class IB shares dated
April 14, 1997 and Schedule A dated April 14, 1997.(7)
6(c)(1). Distribution Agreement between EQ Advisors Trust and
Equitable Distributors, Inc. with respect to the Class IA
shares dated April 14, 1997 and Schedule A dated April 14,
1997.(4)
6(c)(2). Amendment No. 1 dated December 9, 1997 to the Distribution
Agreement between EQ Advisors Trust and Equitable
Distributors, Inc. with respect to the Class IA shares dated
April 14, 1997 and Schedule A dated April 14, 1997.(7)
6(d)(1). Distribution Agreement between EQ Advisors Trust and
Equitable Distributors, Inc. with respect to the Class IB
shares dated April 14, 1997 and Schedule A dated April 14,
1997.(4)
6(d)(2). Amendment No. 1 dated December 9, 1997 to the Distribution
Agreement between EQ Advisors Trust and Equitable
Distributors, Inc. with respect to the Class IB shares dated
April 14, 1997 and Schedule A dated April 14, 1997.(7)
7. Form of Deferred Compensation Plan.(3)
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8(a)(1). Custody Agreement between EQ Advisors Trust and North
American Insurance Securities Division of the Chase Manhattan
Bank dated April 17, 1997 and Appendix A dated April 17,
1997.(4)
8(a)(2). Amendment No. 1 dated December 9, 1997 to the Custody
Agreement between EQ Advisors Trust and North American
Insurance Securities Division of the Chase Manhattan Bank
dated April 17, 1997 and Appendix A dated April 17, 1997.(7)
9(a). Mutual Fund Services Agreement between EQ Advisors Trust and
Chase Global Funds Services Company dated April 25, 1997 and
Schedule A dated April 25, 1997.(4)
9(b)(1). Expense Limitation Agreement between EQ Advisors Trust and EQ
Financial Consultants, Inc. dated April 14, 1997 and Schedule
A dated April 14, 1997.(4)
9(b)(2). Amendment No. 1 dated December 9, 1997 to the Expense
Limitation Agreement between EQ Advisors Trust and EQ
Financial Consultants, Inc. dated April 14, 1997 and Schedule
A dated April 14, 1997.(7)
9(c)(1). Organizational Expense Reimbursement Agreement between EQ
Advisors Trust, on behalf of each series of the Trust except
for the Lazard Large Cap Value Portfolio, Lazard Small Cap
Value Portfolio, the JPM Core Bond Portfolio, BT Small
Company Index Portfolio, BT International Equity Index
Portfolio and BT Equity 500 Index Portfolio and EQ Financial
Consultants, Inc. dated April 14, 1997.(4)
9(c)(2). Organizational Expense Reimbursement Agreement between EQ
Advisors Trust, on behalf of the Lazard Large Cap Value
Portfolio, Lazard Small Cap Value Portfolio, and JPM Core
Bond Portfolio, BT Small Company Index Portfolio, BT
International Equity Index Portfolio, and BT Equity 500 Index
Portfolio and EQ Financial Consultants, Inc. dated December
9, 1997.(7)
9(d)(1). Participation Agreement dated April 14, 1997 and Schedule B
dated April 14, 1997.(4)
9(d)(2) Amendment No. 1 dated December 9, 1997 to the Participation
Agreement dated April 14, 1997 and Schedule B dated April 14,
1997.(7)
9(e). License Agreement Relating to Use of Name between Merrill
Lynch & Co., Inc., and EQ Advisors Trust dated April 28,
1997.(4)
10(a). Opinion and Consent of Katten Muchin & Zavis regarding the
legality of the securities being registered.(1)
10(b) Opinion and Consent of Dechert, Price & Rhoads regarding the
legality of the securities being registered with respect to
the Lazard Large Cap Value Portfolio, Lazard Small Cap Value
Portfolio, and JPM Core Bond Portfolio.(5)
10(c) Opinion and Consent of Dechert, Price & Rhoads regarding the
legality of the securities being registered with respect to
the BT Small Company Index Portfolio, BT International Equity
Index Portfolio, and BT Equity 500 Index Portfolio.(6)
11. Consent of Price Waterhouse, LLP, Independent Public
Accountants.
12. Not applicable.
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13. Stock Subscription Agreement between the Trust, on behalf of
the T. Rowe Price Equity Income Portfolio, and Separate
Account FP.(3)
14. Not Applicable.
15. Distribution Plan Pursuant to Rule 12b-1 for the Trust's
Class IB shares.(4)
16. Not Applicable.
18. Plan Pursuant to Rule 18f-3 under the 1940 Act.(4)
19. Not Applicable.
20. Power of Attorney.(3)
27. Financial Data Schedule.
- ---------------
1 Incorporated herein by reference to Registrant's Registration
Statement on Form N-1A filed on December 3, 1996 (File No.333-17217).
2 Incorporated herein by reference to Registrant's Registration
Statement on Form N-1A filed on January 23, 1997 (File No. 333-17217).
3 Incorporated herein by reference to Registrant's Registration
Statement on Form N-1A filed on April 7, 1997 (File No. 333-17217).
4 Incorporated herein by reference to Registrant's Registration
Statement on Form N-1A filed on August 28, 1997 (File No. 333-17217).
5 Incorporated herein by reference to Registrant's Registration
Statement on Form N-1A filed on October 15, 1997 (File No. 333-17217).
6 Incorporated herein by reference to Registrant's Registration
Statement on Form N-1A filed on October 31, 1997 (File No. 333-17217).
7 Incorporated herein by reference to Registrant's Registration
Statement on Form N-1A filed on December 29, 1997 (File No.
333-17217).
Item 25. Persons Controlled by or under Common Control with Registrant
The Equitable Life Assurance Society of the United States
("Equitable") controls the Trust by virtue of its ownership of 100% of the
Trust's shares as of September 30, 1997. All EQ Advisors Trust shareholders are
required to solicit instructions from their respective contract owners as to
certain matters. EQ Advisors Trust may in the future offer its shares to
insurance companies unaffiliated with Equitable Life.
On July 22, 1992, Equitable converted from a New York mutual life
insurance company to a publicly-owned New York stock life insurance company. At
that time Equitable became a wholly-owned subsidiary of The Equitable Companies
Incorporated ("Holding Company"). The Holding Company
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continues to own 100% of Equitable's common stock as well as approximately
80.2% of the common stock of Donaldson, Lufkin & Jenrette, Inc., a registered
broker-dealer.
AXA, a French insurance holding company, currently owns approximately
63.9% of the outstanding voting shares of common stock of The Equitable
Companies. As majority shareholder of the Equitable Companies, AXA is able to
exercise significant influence over the operations and capital structure of The
Equitable Companies, Equitable and their subsidiaries. AXA is the holding
company for an international group of insurance and related financial services
companies. AXA is the second largest insurance group in the world based on
worldwide revenues in 1996 and also the world's largest insurer-based
investment manager with over $500 billion in assets under management. AXA is
also engaged in asset management, investment banking, securities trading and
other financial services activities principally in the United States, as well
as in Western Europe and the Asia Pacific area.
Item 26. Number of Holders of Securities
NUMBER OF RECORD HOLDERS
TITLE OF CLASS AS OF FEBRUARY 1, 1998
- ------------------------------ -------------------------
Class IA Shares of beneficial interest None
Class IB Shares of beneficial interest 1
Item 27. Indemnification
Amended and Restated Agreement and Declaration of Trust ("Declaration
of Trust") and By-Laws.
Article VII, Section 2 of the Trust's Declaration of Trust of EQ
Advisors Trust ("Trust") states, in relevant part, that a "Trustee, when acting
in such capacity, shall not be personally liable to any Person, other than the
Trust or a Shareholder to the extent provided in this Article VII, for any act,
omission or obligation of the Trust, of such Trustee or of any other Trustee.
The Trustees shall not be responsible or liable in any event for any neglect or
wrongdoing of any officer, agent, employee, Manager, or Principal Underwriter
of the Trust. The Trust shall indemnify each Person who is serving or has
served at the Trust's request as a director, officer, trustee, employee, or
agent of another organization in which the Trust has any interest as a
shareholder, creditor, or otherwise to the extent and in the manner provided in
the By-Laws." Article VII, Section 4 of the Trust's Declaration of Trust
further states, in relevant part, that the "Trustees shall be entitled and
empowered to the fullest extent permitted by law to purchase with Trust assets
insurance for liability and for all expenses reasonably incurred or paid or
expected to be paid by a Trustee, officer, employee, or agent of the Trust in
connection with any claim, action, suit, or proceeding in which he or she may
become involved by virtue of his or her capacity or former capacity as a
Trustee of the Trust."
Article VI, Section 2 of the Trust's By-Laws states, in relevant part,
that "[s]ubject to the exceptions and limitations contained in Section 3 of
this Article VI, every [Trustee, officer, employee or other agent of the Trust]
shall be indemnified by the Trust to the fullest extent permitted by law
against all liabilities and against all expenses reasonably incurred or paid by
him or her in connection with any proceeding in which he or she becomes
involved as a party or otherwise by virtue of his or her being or having been
an agent." Article VI, Section 3 of the Trust's By-Laws further states, in
relevant part, that "[n]o indemnification shall be provided hereunder to [a
Trustee, officer, employee or other agent of the Trust]: (a) who shall have
been adjudicated, by the court or other body before which the proceeding was
brought, to be liable to the Trust or its Shareholders by reason of willful
misfeasance, bad faith, gross negligence or reckless disregard of the duties
involved in the conduct of his or her office (collectively, "disabling
conduct"); or (b) with respect to any proceeding disposed of (whether by
settlement, pursuant to
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a consent decree or otherwise) without an adjudication by the court or other
body before which the proceeding was brought that such [Trustee, officer,
employee or other agent of the Trust] was liable to the Trust or its
Shareholders by reason of disabling conduct, unless there has been a
determination that such [Trustee, officer, employee or other agent of the
Trust] did not engage in disabling conduct: (i) by the court or other body
before which the proceeding was brought; (ii) by at least a majority of those
Trustees who are neither Interested Persons of the Trust nor are parties to the
proceeding based upon a review of readily available facts (as opposed to a full
trial-type inquiry); or (iii) by written opinion of independent legal counsel
based upon a review of readily available facts (as opposed to a full trial-type
inquiry); provided, however, that indemnification shall be provided hereunder
to [a Trustee, officer, employee or other agent of the Trust] with respect to
any proceeding in the event of (1) a final decision on the merits by the court
or other body before which the proceeding was brought that the [Trustee,
officer, employee or other agent of the Trust] was not liable by reason of
disabling conduct, or (2) the dismissal of the proceeding by the court or other
body before which it was brought for insufficiency of evidence of any disabling
conduct with which such [Trustee, officer, employee or other agent of the
Trust] has been charged." Article VI, Section 4 of the Trust's By-Laws also
states that the "rights of indemnification herein provided (i) may be insured
against by policies maintained by the Trust on behalf of any [Trustee, officer,
employee or other agent of the Trust], (ii) shall be severable, (iii) shall not
be exclusive of or affect any other rights to which any [Trustee, officer,
employee or other agent of the Trust] may now or hereafter be entitled and (iv)
shall inure to the benefit of [such party's] heirs, executors and
administrators."
UNDERTAKING
Insofar as indemnification for liability arising under the Securities
Act of 1933 (the "Act") may be permitted to trustees, officers and controlling
persons of the Registrant pursuant to the foregoing provisions, or otherwise,
the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed
in the Act and is, therefore, unenforceable. In the event that a claim for
indemnification against such liabilities (other than the payment by the
Registrant of expenses incurred or paid by a trustee, officer or controlling
person of the Registrant in the successful defense of any action, suit or
proceeding) is asserted by such trustee, officer or controlling person in
connection with the securities being registered, the Registrant will, unless in
the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether
such indemnification by it is against public policy as expressed in the Act and
will be governed by the final adjudication of such issue.
Item 28. Business and Other Connections of the Manager and Advisers
The description of EQ Financial Consultants, Inc. under the caption of
"Management of the Trust" in the Prospectus and under the caption "Investment
Management and Other Services" in the Statement of Additional Information
constituting Parts A and B, respectively, of this Registration Statement are
incorporated by reference herein.
The information as to the directors and officers of EQ Financial Consultants,
Inc. is set forth in EQ Financial Consultants, Inc.'s Form ADV filed with the
Securities and Exchange Commission on July 1, 1996 (File No.
801-14065) and amended through the date hereof, is incorporated by reference.
The information as to the directors and officers of T. Rowe Price Associates,
Inc., is set forth in T. Rowe Price Associates, Inc.'s Form ADV filed with the
Securities and Exchange Commission on March 29, 1996 (File No.
801-00856) and amended through the date hereof, is incorporated by reference.
The information as to the directors and officers of Rowe Price-Fleming
International, Inc. is set forth in Rowe Price-Fleming International, Inc.'s
Form ADV filed with the Securities and Exchange Commission on March 29, 1996
(File No. 801-14713) and amended through the date hereof, is incorporated by
reference.
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The information as to the directors and officers of Putnam Investment
Management, Inc. is set forth in Putnam Investment Management, Inc.'s Form ADV
filed with the Securities and Exchange Commission on April 2, 1996 (File No.
801-07974) and amended through the date hereof, is incorporated by reference.
The information as to the directors and officers of Massachusetts Financial
Services Company is set forth in Massachusetts Financial Services Company's
Form ADV filed with the Securities and Exchange Commission on May 23, 1996
(File No. 801-17352) and amended through the date hereof, is incorporated by
reference.
The information as to the directors and officers of Morgan Stanley Asset
Management Inc. is set forth in Morgan Stanley Asset Management Inc.'s Form ADV
filed with the Securities and Exchange Commission on July 8, 1996 (File No.
801-15757) and amended through the date hereof, is incorporated by reference.
The information as to the directors and officers of Warburg, Pincus
Counsellors, Inc. is set forth in Warburg, Pincus Counsellors, Inc.'s Form ADV
filed with the Securities and Exchange Commission on April 4, 1996 (File No.
801-07321) and amended through the date hereof, is incorporated by reference.
The information as to the directors and officers of Merrill Lynch Asset
Management, L.P. is set forth in Merrill Lynch Asset Management, L.P.'s Form
ADV filed with the Securities and Exchange Commission on November 18, 1996
(File No. 801-11583) and amended through the date hereof, is incorporated by
reference. The information as to the directors and officers of Lazard Asset
Management (a division of Lazard Freres & Co. LLC) is set forth in Lazard
Freres & Co. LLC's Form ADV filed with the Securities and Exchange Commission
on June 9, 1997 (File No. 801-6568) and amended through the date hereof, is
incorporated by reference.
The information as to the directors and officers of the J. P. Morgan Investment
Management Inc. is set forth in the J.P. Morgan Investment Management Inc.'s
Form ADV filed with the Securities and Exchange Commission on January 24, 1997
(File No. 801-21011) and amended through the date hereof, is incorporated by
reference.
The information as to the directors and officers of Bankers Trust Company is
set forth below. To the knowledge of the Trust, none of the directors or
officers of Bankers Trust, except those set forth below, is or has been at
anytime during the past two fiscal years engaged in any other business,
profession, vocation or employment of a substantial nature, except that certain
directors and officers also hold various positions with and engage in business
for Bankers Trust New York Corporation. Set forth below are the names and
principal businesses of the directors and officers of Bankers Trust who are or
during the past two fiscal years have been engaged in any other business,
profession, vocation or employment of a substantial nature. These persons may
be contacted c/o Bankers Trust Company, 130 Liberty Street, New York, New York
10006.
George B. Beitzel, International Business Machines Corporation, Old Orchard
Road, Armonk, NY 10504. Director, Bankers Trust Company; Retired senior vice
president and Director, International Business Machines Corporation; Director,
Computer Task Group; Director, Phillips Petroleum Company; Director, Caliber
Systems, Inc. (formerly, Roadway Services Inc.); Director, Rohm and Haas
Company; Director, TIG Holdings; Chairman emeritus of Amherst College; and
Chairman of the Colonial Williamsburg Foundation.
Richard H. Daniel, Bankers Trust Company, 130 Liberty Street, New York, New
York 10006. Vice chairman and chief financial officer, Bankers Trust Company
and Bankers Trust New York Corporation;
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Beneficial owner, general partner, Daniel Brothers, Daniel Lingo & Assoc.,
Daniel Pelt & Assoc.; and Beneficial owner, Rhea C. Daniel Trust.
Philip A. Griffiths, Bankers Trust Company, 130 Liberty Street, New York, New
York 10006. Director, Institute for Advanced Study; Director, Bankers Trust
Company; Chairman, Committee on Science, Engineering and Public Policy of the
National Academies of Sciences and Engineering & the Institute of Medicine; and
Chairman and member, Nominations Committee and Committee on Science and
Engineering Indicators, National Science Board; and Trustee, North Carolina
School of Science and Mathematics and the Woodward Academy.
William R. Howell, J.C. Penney Company, Inc., P.O. Box 10001, Plano, TX
75301-0001. Chairman Emeritus, J.C. Penney Company, Inc.; Director, Bankers
Trust Company; Director, Exxon Corporation; Director, Halliburton Company;
Director, Warner-Lambert Corporation; Director, The Williams Companies, Inc.;
and Director, National Retail Federation.
Vernon E. Jordan, Jr., Akin, Gump, Strauss, Hauer & Feld, LLP, 1333 New
Hampshire Ave., N.W., Washington, DC 20036. Senior Partner, Akin, Gump,
Strauss, Hauer & Feld, LLP; Director, Bankers Trust Company; Director, American
Express Company; Director, Dow-Jones, Inc.; Director, J.C. Penney Company,
Inc.; Director, Revlon Group Incorporated; Director, Ryder System, Inc.;
Director, Sara Lee Corporation; Director, Union Carbide Corporation; Director,
Xerox Corporation; Trustee, Brookings Institution; Trustee, The Ford
Foundation; and Trustee, Howard University.
David Marshall, 130 Liberty Street, New York, New York 10006. Chief Information
Officer and Executive Vice President, Bankers Trust New York Corporation; and
Senior Managing Director, Bankers Trust Company.
Hamish Maxwell, Philip Morris Companies Inc., 120 Park Avenue, New York, NY
10006. Retired Chairman and Chief Executive Officer, Philip Morris Companies
Inc.; Director, Bankers Trust Company; Director, The News Corporation Limited;
Director, Sola International Inc.; and Chairman, WWP Group pic.
Frank N. Newman, Bankers Trust Company, 130 Liberty Street, New York, New York
10006. Chairman of the Board, Chief Executive Officer and President, Bankers
Trust New York Corporation and Bankers Trust Company; Director, Bankers Trust
Company; Director, Dow-Jones, Inc.; and Director, Carnegie Hall.
N.J. Nicholas Jr., 745 Fifth Avenue, New York, NY 10020. Director, Bankers
Trust Company; Director, Boston Scientific Corporation; and Director, Xerox
Corporation.
Russell E. Palmer, The Palmer Group, 3600 Market Street, Suite 530,
Philadelphia, PA 19104. Chairman and Chief Executive Officer of The Palmer
Group; Director, Bankers Trust Company; Director, Allied-Signal Inc.; Director,
Federal Home Loan Mortgage Corporation; Director, GTE Corporation; Director,
The May Department Stores Company; Director, Safeguard Scientifics, Inc.; and
Trustee, University of Pennsylvania.
Donald L. Staheli, Bankers Trust Company, 130 Liberty Street, New York, New
York 10006. Chairman of the Board and Chief Executive Officer, Continental
Grain Company; Director, Bankers Trust Company; Director, ContiFinancial
Corporation; Director, Prudential Life Insurance Company of America; Director,
Fresenius Medical Care, A.g.; Director, America-China Society; Director,
National Committee on United States-China Relations; Director, New York City
Partnership; Chairman, U.S.-China Business Council; Chairman, Council on
Foreign Relations; Chairman, National Advisor Council of Brigham Young
C-8
<PAGE>
University's Marriott School of Management; Vice Chairman, The Points of Light
Foundation; and Trustee, American Graduate School of International Management.
Patricia Carry Stewart, c/o Office of the Secretary, 130 Liberty Street, New
York, NY 10006. Director, Bankers Trust Company; Director, CVS Corporation;
Director, Community Foundation for Palm Beach and Martin Counties; and Trustee
Emerita, Cornell University.
George J. Vojta, Bankers Trust Company, 130 Liberty Street, New York, NY 10006.
Vice Chairman, Bankers Trust New York Corporation and Bankers Trust Company;
Director, Bankers Trust Company; Director; Alicorp S.A.; Director, Northwest
Airlines; Director, Private Export Funding Corp.; Director, New York State
Banking Board; Director, St. Lukes-Roosevelt Hospital Center; Partner, New York
City Partnership; and Chairman, Wharton Financial Services Center.
Paul A. Volcker, Bankers Trust Company, 130 Liberty Street, New York, New York
10006. Director, Bankers Trust Company; Director, American Stock Exchange;
Director, Nestle S.A.; Director, Prudential Insurance Company; Director, UAL
Corporation; Chairman, Group of 30; North American Chairman, Trilateral
Commission; Co-Chairman, Bretton Woods Committee; Co-Chairman, U.S./Hong Kong
Economic Cooperation Committee; Director, American Council on Germany;
Director, Aspen Institute; Director, Council on Foreign Relations; Director,
The Japan Society; and Trustee, The American Assembly.
Melvin A. Yellin, Bankers Trust Company, 130 Liberty Street, New York, New York
10006. Senior Managing Director and General Counsel of Bankers Trust New York
Corporation and Bankers Trust Company; Director, 1136 Tenants Corporation; and
Director, ABA Securities Association.
Item 29. Principal Underwriters
(a) EQ Financial Consultants, Inc. is a principal underwriter of the
Trust's Class IA shares and Class IB shares, and Equitable Distributors, Inc.
is also a principal underwriter of the Trust's Class IA shares and Class IB
shares. EQ Financial Consultants Inc. also serves as the principal underwriter
for the following entities: the Class IA shares of The Hudson River Trust;
Separate Accounts A and No. 301 of Equitable; and Separate Accounts I and FP of
Equitable. Equitable Distributors, Inc. serves as the principal underwriter for
the Class IB shares of The Hudson River Trust and Separate Account Nos. 45 and
49 of Equitable.
(b) Set forth below is certain information regarding the directors and
officers of EQ Financial Consultants, Inc., and of Equitable Distributors,
Inc., the principal underwriters of the Trust's Class IA and Class IB shares.
The business address of the persons whose names are preceded by a single
asterisk is EQ Advisors Trust, 1290 Avenue of the Americas, New York, New York
10104. The business address of the persons whose names are preceded by a double
asterisk is 1755 Broadway, 3rd Floor, New York, New York 10019. Ms. Laughlin's
business address is 1345 Avenue of the Americas, 39th Floor, New York, New York
10105. Mr. Kornweiss's business address is 4251 Crums Mill Road, Harrisburg, PA
17112. Mr. Witte's business address is 135 West Fiftieth Street, 4th Floor, New
York, New York 10020. The business address of Mr. Brakovich, Mr. Shepherdson
and Mr. Meserve is 660 Newport Center Drive, Suite 350, Newport Beach, CA
92660. The business address of Mr. Hayes and Mr. Bullen is 200 Plaza Drive,
Secaucus, New Jersey 07096.
C-9
<PAGE>
<TABLE>
<CAPTION>
<S> <C> <C>
============================================== ============================== =================================
NAME AND PRINCIPAL WITH POSITIONS AND OFFICES WITH EQ POSITIONS AND OFFICES
BUSINESS ADDRESS FINANCIAL CONSULTANTS, INC. REGISTRANT
(EQ ADVISORS TRUST)
- ---------------------------------------------- ------------------------------ ---------------------------------
DIRECTORS
* Derry E. Bishop Director
* Harvey Blitz Director Chief Financial Officer and
Vice President
Michael J. Laughlin Director Vice President
* Michael S. Martin Director
** Michael F. McNelis Director
* Richard V. Silver Director
* Mark R. Wut Director
- ---------------------------------------------- ------------------------------ ---------------------------------
OFFICERS
* Michael S. Martin Chairman of the Board and Chief Vice President
Executive Officer
** Michael F. McNelis President and Chief Operating
Officer
* Derry E. Bishop Executive Vice President
* Harvey Blitz Executive Vice President Chief Financial Officer and
Vice President
** Martin J. Telles Executive Vice President and Chief Vice President
Marketing Officer
* Fred A. Folco Executive Vice President
* Thomas J. Duddy, Jr. Executive Vice President
* William J. Green Executive Vice President
* A. Frank Beaz Executive Vice President
Edward J. Hayes Executive Vice President
* Peter D. Noris Executive Vice President President
Dennis D. Witte Executive Vice President
** Robert McKenna Senior Vice President and Chief
Financial Officer
** Theresa A. Nurge-Alws Senior Vice President
** Ronald Boswell First Vice President
** Donna M. Dazzo First Vice President
* Robin K. Murray First Vice President
* Michael Brzozowski Vice President and Compliance
Director
* Mary P. Breen Vice President and Counsel Vice President and Secretary
** Amy Franceschini Vice President
** Linda Funigiello Vice President
** James Furlong Vice President
Peter R. Kornweiss Vice President
** Frank Lupo Vice President
** Rosemary Magee Vice President
** T.S. Narayanan Vice President
** James R. Anderson Vice President
* Raymond T.Barry Vice President
** Laura A. Pellegrini Vice President
* Mary A. Cantwell Assistant Vice President Assistant Vice President
* Janet E. Hannon Secretary
* Linda J. Galasso Assistant Secretary
============================================== ==================================== =================================
C-10
<PAGE>
============================================== ==================================== =================================
POSITIONS AND OFFICES WITH
NAME AND PRINCIPAL BUSINESS ADDRESS POSITIONS AND OFFICES WITH REGISTRANT
EQUITABLE DISTRIBUTORS, INC. (EQ ADVISORS TRUST)
- ---------------------------------------------- ------------------------------------ ---------------------------------
DIRECTORS
Greg Brakovich Director
* Jerome S. Golden Director
* William T. McCaffrey Director Trustee
James A. Shepherdson, III Director
- ---------------------------------------------- ------------------------------------ ---------------------------------
OFFICERS
* Jerome S. Golden Chairman of the Board
Greg Brakovich Co-President and Co-Chief
Executive Officer and
Managing Director
James A. Shepherdson, III Co-President and Co-Chief
Executive Officer and Managing
Dennis D. Witte Director
Philip D. Meserve Senior Vice President
Thomas D. Bullen Managing Director
* Michael Brzozowski Chief Financial Officer
* Mary P. Breen Vice President and Counsel Vice President and Secretary
* Ronald R. Quist Treasurer
* Janet Hannon Secretary
* Linda J. Galasso Assistant Secretary
============================================== ==================================== =================================
</TABLE>
(c) Inapplicable.
Item 30. Location of Accounts and Records
Books or other documents required to be maintained by Section 31(a) of
the Investment Company Act of 1940, and the Rules promulgated thereunder, are
maintained as follows:
(a) With respect to Rules 31a-1(a); 31a-1(b)(1); (2)(a) and (b); (3); (6);
(8); (12); and 31a-1(d), the required books and records are maintained
at the offices of Registrant's Custodian:
1211 Avenue of the Americas
New York, New York 10036
(b) With respect to Rules 31a-1(a); 31a-1(b)(1), (4); (2)(C) and (D); (4);
(5); (6); (8); (9); (10); (11) and 31a-1(f), the required books and
records are currently maintained at the offices of the Registrant's
Administrator:
73 Tremont Street
Boston, Massachusetts 02108
C-11
<PAGE>
(c) With respect to Rules 31a-1(b)(5), (6), (9) and (10) and 31a-1(f), the
required books and records are maintained at the principal offices of
the Registrant's Manager or Advisers:
EQ Financial Consultants, Inc. T. Rowe Price Associates, Inc.
1755 Broadway, 3rd Floor 100 East Pratt St.
New York, New York 10019 Baltimore, MD 21202
Rowe Price-Fleming International, Inc. Putnam Investment Management, Inc.
100 East Pratt Street One Post Office Square
Baltimore, MD 21202 Boston, MA 02109
Massachusetts Financial Services Company Merrill Lynch Asset Management, L.P.
500 Boylston Street 800 Scudders Mill Road
Boston, MA 02116 Plainsboro, New Jersey 08543-9011
Warburg, Pincus Counsellors, Inc. Morgan Stanley Asset Management Inc.
466 Lexington Avenue 1221 Avenue of the Americas
New York, New York 10017-3147 New York, New York 10020
Lazard Asset Management J.P Morgan Investment Management Inc.
30 Rockefeller Plaza 522 Fifth Avenue
New York, New York 10020 New York, New York 10036
Bankers Trust Company
130 Liberty Street
One Bankers Trust Plaza
New York, New York 10006
Item 31. Management Services: None.
Item 32. Undertakings
(a) Inapplicable.
(b) The Registrant hereby undertakes to file a post-effective
amendment, including financial statements which need not be audited, within
four to six months from the later of the commencement of operations of the
Lazard Large Cap Value Portfolio, Lazard Small Cap Value Portfolio, and JPM
Core Bond Portfoolio or the effective date of Post-Effective Amendment No. 2 to
the Registrant's 1933 Act Registration Statement.
The Registrant hereby undertakes to file a post-effective
amendment, including financial statements which need not be audited, within
four to six months from the later of the commencement of operations of the BT
Small Company Index Portfolio, BT International Equity Index Portfolio, and BT
Equity 500 Index Portfolio, or the effective date of Post-Effective Amendment
No. 3 to the Registrant's 1933 Act Registration Statement.
(c) The Registrant hereby undertakes to furnish each person to whom a
prospectus is delivered with a copy of the Registrant's latest annual report to
shareholders upon request and without charge.
C-12
<PAGE>
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, as amended, ("1933
Act") and the Investment Company Act of 1940, as amended, the Registrant
certifies that this filing meets all of the requirements for effectiveness
pursuant to Rule 485(b) under the 1933 Act and the Registrant has duly caused
this Post-Effective Amendment No. 5 to the Registration Statement to be signed
on its behalf by the undersigned, thereunto duly authorized, in the City of New
York, and the State of New York on the 3rd day of March, 1998.
EQ ADVISORS TRUST
By: /s/ Peter D. Noris
____________________
Peter D. Noris
President
Pursuant to the requirements of the Securities Act of 1933, as amended, this
Post-Effective Amendment No. 5 to the Registration Statement has been signed
below by the following persons in the capacities and on the dates indicated.
<TABLE>
<CAPTION>
<S> <C> <C>
Signature Title Date
--------- ----- ----
/s/ Peter D. Noris President and Trustee March 3, 1998
- ------------------------------
Peter D. Noris
* Trustee March 3, 1998
- ------------------------------
William T. McCaffrey
* Trustee March 3, 1998
- ------------------------------
Jettie M. Edwards
* Trustee March 3, 1998
- ------------------------------
William M. Kearns, Jr.
* Trustee March 3,1998
- ------------------------------
Christopher P.A. Komisarjevsky
* Trustee March 3, 1998
- ------------------------------
Harvey Rosenthal
* Chief Financial Officer March 3, 1998
- ------------------------------
Harvey Blitz
</TABLE>
* By: /s/ Peter D. Noris
_________________________
Peter D. Noris
(Attorney-in-Fact)
C-13
<PAGE>
EXHIBIT LIST
EXHIBIT
NUMBER DESCRIPTION
11. Consent of Price Waterhouse, LLP, Independent Public
Accountants.
27. Financial Data Schedule.
<PAGE>
Consent of Independent Accountants
We hereby consent to the incorporation by reference in the Statement of
Additional Information constituting part of this Post-Effective Amendment
No. 5 to the registration statement on Form N-1A (the "Registration
Statement") of our report dated February 23, 1998, relating to the financial
statements and financial highlights appearing in the December 31, 1997
Annual Report of EQ Advisors Trust, which is also incorporated by reference
into the Registration Statement. We also consent to the reference to us under
the heading "Financial Highlights" in the Prospectuses that also constitute
part of this Registration Statement.
/s/ Price Waterhouse LLP
PRICE WATERHOUSE LLP
1177 Avenue of the Americas
New York, New York 10036
February 23, 1998
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<PAGE>
<ARTICLE> 6
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<SERIES>
<NUMBER> 1
<NAME> T. ROWE PRICE EQUITY INCOME PORTFOLIO
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<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 96,071,224
<INVESTMENTS-AT-VALUE> 101,517,669
<RECEIVABLES> 1,582,865
<ASSETS-OTHER> 1,445
<OTHER-ITEMS-ASSETS> 25,262,801
<TOTAL-ASSETS> 128,364,780
<PAYABLE-FOR-SECURITIES> 2,539,086
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 25,878,384
<TOTAL-LIABILITIES> 28,417,470
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 94,408,169
<SHARES-COMMON-STOCK> 8,272,803
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,001
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 91,125
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,446,015
<NET-ASSETS> 99,947,310
<DIVIDEND-INCOME> 810,390
<INTEREST-INCOME> 200,609
<OTHER-INCOME> 2,160
<EXPENSES-NET> (257,165)
<NET-INVESTMENT-INCOME> 755,994
<REALIZED-GAINS-CURRENT> 350,530
<APPREC-INCREASE-CURRENT> 5,446,015
<NET-CHANGE-FROM-OPS> 6,552,539
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (742,913)
<DISTRIBUTIONS-OF-GAINS> (274,692)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,163,385
<NUMBER-OF-SHARES-REDEEMED> (985,808)
<SHARES-REINVESTED> 85,226
<NET-CHANGE-IN-ASSETS> 99,847,310
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 166,401
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 528,259
<AVERAGE-NET-ASSETS> 45,129,313
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 2.11
<PER-SHARE-DIVIDEND> (0.09)
<PER-SHARE-DISTRIBUTIONS> (0.04)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.08
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
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<ARTICLE> 6
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<SERIES>
<NUMBER> 2
<NAME> T. ROWE PRICE INTERNATIONAL STOCK PORTFOLIO
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 69,853,575
<INVESTMENTS-AT-VALUE> 66,240,263
<RECEIVABLES> 2,747,344
<ASSETS-OTHER> 1,436
<OTHER-ITEMS-ASSETS> 9,519,746
<TOTAL-ASSETS> 78,508,789
<PAYABLE-FOR-SECURITIES> 528,893
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,407,927
<TOTAL-LIABILITIES> 3,936,820
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 78,434,505
<SHARES-COMMON-STOCK> 7,571,312
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (20,377)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (255,339)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3,616,820)
<NET-ASSETS> 74,571,969
<DIVIDEND-INCOME> 288,519
<INTEREST-INCOME> 181,629
<OTHER-INCOME> 27
<EXPENSES-NET> (342,082)
<NET-INVESTMENT-INCOME> 128,093
<REALIZED-GAINS-CURRENT> (368,231)
<APPREC-INCREASE-CURRENT> (3,616,820)
<NET-CHANGE-FROM-OPS> (3,856,958)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (9,785)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,802,776
<NUMBER-OF-SHARES-REDEEMED> (2,232,461)
<SHARES-REINVESTED> 997
<NET-CHANGE-IN-ASSETS> 74,571,969
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 213,839
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 728,639
<AVERAGE-NET-ASSETS> 42,458,731
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> (0.17)
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.85
<EXPENSE-RATIO> 1.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
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<NUMBER> 3
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<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 150,432,226
<INVESTMENTS-AT-VALUE> 153,247,139
<RECEIVABLES> 4,919,975
<ASSETS-OTHER> 1,911
<OTHER-ITEMS-ASSETS> 27,612,049
<TOTAL-ASSETS> 185,781,074
<PAYABLE-FOR-SECURITIES> 7,647,905
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 27,873,447
<TOTAL-LIABILITIES> 35,521,352
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 147,858,014
<SHARES-COMMON-STOCK> 13,045,713
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (42)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (413,163)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,814,913
<NET-ASSETS> 150,259,722
<DIVIDEND-INCOME> 806,120
<INTEREST-INCOME> 235,099
<OTHER-INCOME> 2,377
<EXPENSES-NET> (352,188)
<NET-INVESTMENT-INCOME> 691,408
<REALIZED-GAINS-CURRENT> 157,072
<APPREC-INCREASE-CURRENT> 2,814,913
<NET-CHANGE-FROM-OPS> 3,663,393
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (696,908)
<DISTRIBUTIONS-OF-GAINS> (570,242)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,247,726
<NUMBER-OF-SHARES-REDEEMED> (313,953)
<SHARES-REINVESTED> 111,940
<NET-CHANGE-IN-ASSETS> 150,259,722
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 227,936
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 726,304
<AVERAGE-NET-ASSETS> 61,786,888
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 1.56
<PER-SHARE-DIVIDEND> (0.06)
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.52
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
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<CIK> 0001027263
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<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 57,736,353
<INVESTMENTS-AT-VALUE> 57,559,806
<RECEIVABLES> 651,152
<ASSETS-OTHER> 897
<OTHER-ITEMS-ASSETS> 1,898,315
<TOTAL-ASSETS> 60,110,170
<PAYABLE-FOR-SECURITIES> 331,125
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,100,899
<TOTAL-LIABILITIES> 2,432,024
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 58,016,512
<SHARES-COMMON-STOCK> 5,296,019
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 62,965
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (179,261)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (222,070)
<NET-ASSETS> 57,678,146
<DIVIDEND-INCOME> 192,295
<INTEREST-INCOME> 167,495
<OTHER-INCOME> 307
<EXPENSES-NET> (223,253)
<NET-INVESTMENT-INCOME> 136,844
<REALIZED-GAINS-CURRENT> 91,742
<APPREC-INCREASE-CURRENT> (222,070)
<NET-CHANGE-FROM-OPS> 6,516
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (99,488)
<DISTRIBUTIONS-OF-GAINS> (249,601)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,297,238
<NUMBER-OF-SHARES-REDEEMED> (33,482)
<SHARES-REINVESTED> 32,263
<NET-CHANGE-IN-ASSETS> 57,678,146
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 130,202
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 469,521
<AVERAGE-NET-ASSETS> 27,711,097
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.93
<PER-SHARE-DIVIDEND> (0.02)
<PER-SHARE-DISTRIBUTIONS> (0.05)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.89
<EXPENSE-RATIO> 1.20
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001027263
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<SERIES>
<NUMBER> 5
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<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
<INVESTMENTS-AT-COST> 39,112,790
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<NAME> EQ ADVISORS TRUST
<SERIES>
<NUMBER> 6
<NAME> EQ/PUTNAM BALANCED PORTFOLIO
<S> <C>
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<REALIZED-GAINS-CURRENT> 281,700
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<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001027263
<NAME> EQ ADVISORS TRUST
<SERIES>
<NUMBER> 7
<NAME> MFS RESEARCH PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
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<NET-ASSETS> 116,754,464
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<REALIZED-GAINS-CURRENT> 104,995
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<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
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<PER-SHARE-DIVIDEND> (0.02)
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001027263
<NAME> EQ ADVISORS
<SERIES>
<NUMBER> 8
<NAME> MFS EMERGING GROWTH COMPANIES PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
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<ACCUMULATED-NET-GAINS> (865,006)
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<NET-ASSETS> 101,817,243
<DIVIDEND-INCOME> 298,852
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<OTHER-INCOME> 2,903
<EXPENSES-NET> (262,388)
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<REALIZED-GAINS-CURRENT> 1,472,642
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<NUMBER-OF-SHARES-SOLD> 12,281,631
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<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.02
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<PER-SHARE-DIVIDEND> (0.02)
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001027263
<NAME> EQ ADVISORS TRUST
<SERIES>
<NUMBER> 9
<NAME> MORGAN STANLEY EMERGING MARKETS EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> AUG-20-1997
<PERIOD-END> DEC-31-1997
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (380,622)
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<ACCUM-APPREC-OR-DEPREC> (2,983,874)
<NET-ASSETS> 21,432,631
<DIVIDEND-INCOME> 169,731
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<OTHER-INCOME> 0
<EXPENSES-NET> (102,027)
<NET-INVESTMENT-INCOME> 112,895
<REALIZED-GAINS-CURRENT> (403,302)
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<NET-CHANGE-FROM-OPS> (3,274,281)
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<NUMBER-OF-SHARES-SOLD> 3,928,086
<NUMBER-OF-SHARES-REDEEMED> (1,241,830)
<SHARES-REINVESTED> 7,554
<NET-CHANGE-IN-ASSETS> 21,432,631
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<GROSS-EXPENSE> 151,365
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<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> (2.06)
<PER-SHARE-DIVIDEND> (0.02)
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001027263
<NAME> EQ ADVISORS TRUST
<SERIES>
<NUMBER> 10
<NAME> WARBURG PINCUS SMALL COMPANY VALUE PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
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<ACCUMULATED-NET-GAINS> (1,465,958)
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<ACCUM-APPREC-OR-DEPREC> 439,483
<NET-ASSETS> 120,879,674
<DIVIDEND-INCOME> 260,345
<INTEREST-INCOME> 222,466
<OTHER-INCOME> 4,460
<EXPENSES-NET> (387,966)
<NET-INVESTMENT-INCOME> 99,305
<REALIZED-GAINS-CURRENT> (937,026)
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<NET-CHANGE-FROM-OPS> (398,238)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (103,744)
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<NUMBER-OF-SHARES-SOLD> 14,177,457
<NUMBER-OF-SHARES-REDEEMED> (4,027,352)
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<NET-CHANGE-IN-ASSETS> 120,879,674
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<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 1.90
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001027263
<NAME> EQ ADVISORS TRUST
<SERIES>
<NUMBER> 11
<NAME> MERRILL LYNCH WORLD STRATEGY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
<PERIOD-END> DEC-31-1997
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<ACCUM-APPREC-OR-DEPREC> (86,541)
<NET-ASSETS> 18,210,450
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<EXPENSES-NET> (84,729)
<NET-INVESTMENT-INCOME> 133,437
<REALIZED-GAINS-CURRENT> (294,596)
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<NUMBER-OF-SHARES-REDEEMED> (501,568)
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<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.08
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001027263
<NAME> EQ ADVISORS TRUST
<SERIES>
<NUMBER> 12
<NAME> MERRILL LYNCH BASIC VALUE EQUITY PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> MAY-01-1997
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<NUMBER-OF-SHARES-SOLD> 4,633,508
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<PER-SHARE-NAV-BEGIN> 10.00
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</TABLE>
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<CIK> 0001027263
<NAME> EQ ADVISORS TRUST
<SERIES>
<NUMBER> 13
<NAME> BT EQUITY 500 INDEX PORTFOLIO
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1997
<PERIOD-START> DEC-31-1997
<PERIOD-END> DEC-31-1997
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