<DISPLAY>
[NAME] ADVISORS SERIES TRUST
[FILE-NUMBER] 33-17391
</DISPLAY>
<PAGE> PAGE 1
000 B000000 09/30/98
000 C000000 0001027596
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 ADVISORS SERIES TRUST
001 B000000 811-07959
001 C000000 6029521100
002 A000000 4455 E. CAMELBACK RD., SUITE 261-E
002 B000000 PHOENIX
002 C000000 AZ
002 D010000 85018
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 14
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C020500 THE ROCKHAVEN FUND
007 C030500 N
007 C010600 6
007 C020600 THE ROCKHAVEN PREMIER DIVIDEND FUND
007 C030600 N
007 C010700 7
007 C010800 8
007 C020800 CHASE GROWTH FUND
007 C030800 N
007 C010900 9
007 C011000 10
010 A00AA01 INVESTMENT COMPANY ADMINISTRATION CORPORATION
010 C01AA01 PHOENIX
010 C02AA01 AZ
010 C03AA01 85018
011 A00AA01 FIRST FUND DISTRIBUTORS, INC.
011 B00AA01 8-42809
011 C01AA01 PHOENIX
011 C02AA01 AZ
011 C03AA01 85018
012 A00AA01 AMERICAN DATA SERVICES
012 B00AA01 84-1964
012 C01AA01 HAUPPAUGE
012 C02AA01 NY
<PAGE> PAGE 2
012 C03AA01 11788
013 A00AA01 MCGLADREY & PULLEN LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
015 A00AA01 STAR BANK, N.A.
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 INTERSTATE SECURITIES
020 C000001 4
020 A000002 BRIDGE
020 C000002 4
020 A000003 JEFFERIES
020 C000003 1
020 A000004 FIRST BOSTON
020 C000004 1
020 A000005 PAINE WEBBER
020 C000005 1
020 A000006 FORUM
020 C000006 1
020 A000007 MERRILL LYNCH
020 C000007 1
020 A000008 BEAR STEARNS
020 C000008 1
020 C000009 0
020 C000010 0
021 000000 17
022 A000001 MERRILL LYNCH
022 C000001 353
022 D000001 25
022 A000002 SMITH BARNEY
022 C000002 33
022 D000002 101
022 A000003 CRESTAR
022 C000003 400
022 D000003 398
022 A000004 TRANSFER IN KIND
022 C000004 71
022 D000004 0
022 A000005 BEAR STEARNS
022 C000005 136
022 D000005 78
022 A000006 PRUDENTIAL
022 C000006 80
022 D000006 29
<PAGE> PAGE 3
022 A000007 FIRST BOSTON
022 C000007 153
022 D000007 37
022 A000008 MORGAN STANLEY
022 C000008 1554
022 D000008 369
022 A000009 FEDERATED SECURITIES CORP(STAR TREASURY FUND)
022 C000009 7690
022 D000009 6726
022 A000010 STAR BANK,N.A.
022 C000010 2996
022 D000010 2997
023 C000000 13752
023 D000000 10804
024 00AA00 N
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 Y
026 G020000 Y
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
<PAGE> PAGE 4
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
077 A000000 Y
077 B000000 Y
078 000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
008 A000501 ROCKHAVEN ASSET MANAGEMENT
008 B000501 A
008 C000501 801-54084
008 D010501 PITTSBURGH
008 D020501 PA
008 D030501 15222
028 A010500 565
028 A020500 0
028 A030500 0
028 A040500 0
028 B010500 13
<PAGE> PAGE 5
028 B020500 4
028 B030500 0
028 B040500 0
028 C010500 26
028 C020500 0
028 C030500 0
028 C040500 0
028 D010500 21
028 D020500 0
028 D030500 0
028 D040500 0
028 E010500 961
028 E020500 0
028 E030500 0
028 E040500 0
028 F010500 0
028 F020500 0
028 F030500 0
028 F040500 0
028 G010500 1586
028 G020500 4
028 G030500 0
028 G040500 0
028 H000500 0
037 000500 N
038 000500 0
039 000500 Y
040 000500 Y
041 000500 Y
042 A000500 46
042 B000500 37
042 C000500 0
042 D000500 0
042 E000500 9
042 F000500 0
042 G000500 8
042 H000500 0
043 000500 3
044 000500 15
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.750
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
<PAGE> PAGE 6
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
055 A000500 Y
055 B000500 N
056 000500 Y
057 000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 N
066 F000500 Y
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 Y
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
<PAGE> PAGE 7
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 N
070 M010500 N
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 N
070 R020500 N
071 A000500 3504
071 B000500 1256
071 C000500 1282
071 D000500 98
072 A000500 11
072 B000500 36
072 C000500 5
072 D000500 0
072 E000500 0
072 F000500 9
072 G000500 27
072 H000500 0
072 I000500 14
072 J000500 7
072 K000500 0
072 L000500 4
072 M000500 5
072 N000500 6
072 O000500 0
072 P000500 0
072 Q000500 12
072 R000500 10
072 S000500 4
072 T000500 3
072 U000500 0
072 V000500 0
072 W000500 5
072 X000500 106
072 Y000500 88
072 Z000500 23
072AA000500 123
072BB000500 6
<PAGE> PAGE 8
072CC010500 0
072CC020500 58
072DD010500 22
072DD020500 0
072EE000500 0
073 A010500 0.1400
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 152
074 E000500 406
074 F000500 1463
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 7
074 L000500 6
074 M000500 18
074 N000500 2052
074 O000500 0
074 P000500 2
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 59
074 S000500 0
074 T000500 1991
074 U010500 205
074 U020500 0
074 V010500 9.71
074 V020500 0.00
074 W000500 0.0000
074 X000500 76
074 Y000500 0
075 A000500 0
075 B000500 1377
076 000500 0.00
080 A000500 ICI MUTUAL INSURANCE COMPANY
080 C000500 450
081 A000500 Y
081 B000500 14
082 A000500 Y
082 B000500 25
083 A000500 N
083 B000500 0
084 A000500 N
<PAGE> PAGE 9
084 B000500 0
085 A000500 Y
085 B000500 N
008 A000601 ROCKHAVEN ASSET MANAGEMENT
008 B000601 A
008 C000601 801-54084
008 D010601 PITTSBURGH
008 D020601 PA
008 D030601 15222
028 A010600 558
028 A020600 0
028 A030600 0
028 A040600 0
028 B010600 185
028 B020600 8
028 B030600 0
028 B040600 0
028 C010600 11
028 C020600 0
028 C030600 0
028 C040600 0
028 D010600 24
028 D020600 0
028 D030600 0
028 D040600 0
028 E010600 71
028 E020600 0
028 E030600 0
028 E040600 0
028 F010600 0
028 F020600 0
028 F030600 0
028 F040600 0
028 G010600 849
028 G020600 8
028 G030600 0
028 G040600 0
028 H000600 0
037 000600 N
038 000600 0
039 000600 Y
040 000600 Y
041 000600 Y
042 A000600 46
042 B000600 37
042 C000600 0
042 D000600 0
042 E000600 9
042 F000600 0
042 G000600 8
042 H000600 0
<PAGE> PAGE 10
043 000600 2
044 000600 15
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.750
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 1000
066 A000600 Y
066 B000600 N
066 C000600 N
066 D000600 N
066 E000600 N
066 F000600 Y
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 N
070 B010600 Y
<PAGE> PAGE 11
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 3091
071 B000600 1368
071 C000600 927
071 D000600 148
072 A000600 11
072 B000600 5
072 C000600 33
072 D000600 0
072 E000600 0
072 F000600 7
072 G000600 27
072 H000600 0
072 I000600 14
072 J000600 7
072 K000600 0
072 L000600 4
072 M000600 5
072 N000600 6
<PAGE> PAGE 12
072 O000600 0
072 P000600 0
072 Q000600 12
072 R000600 10
072 S000600 4
072 T000600 2
072 U000600 0
072 V000600 0
072 W000600 5
072 X000600 103
072 Y000600 89
072 Z000600 24
072AA000600 89
072BB000600 50
072CC010600 0
072CC020600 58
072DD010600 23
072DD020600 0
072EE000600 0
073 A010600 0.2000
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 0
074 C000600 0
074 D000600 399
074 E000600 709
074 F000600 522
074 G000600 0
074 H000600 0
074 I000600 81
074 J000600 0
074 K000600 7
074 L000600 8
074 M000600 18
074 N000600 1744
074 O000600 39
074 P000600 2
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 24
074 S000600 0
074 T000600 1679
074 U010600 171
074 U020600 0
074 V010600 9.80
074 V020600 0.00
074 W000600 0.0000
<PAGE> PAGE 13
074 X000600 56
074 Y000600 0
075 A000600 0
075 B000600 1007
076 000600 0.00
080 A000600 ICI MUTUAL INSURANCE COMPANY
080 C000600 450
081 A000600 Y
081 B000600 14
082 A000600 Y
082 B000600 25
083 A000600 N
083 B000600 0
084 A000600 N
084 B000600 0
085 A000600 Y
085 B000600 N
008 A000801 CHASE INVESTMENT COUNSEL CORPORATION
008 B000801 A
008 C000801 801-3396
008 D010801 CHARLOTTESVILLE
008 D020801 VA
008 D030801 22902
008 D040801 5091
028 A010800 436
028 A020800 0
028 A030800 0
028 A040800 0
028 B010800 413
028 B020800 0
028 B030800 0
028 B040800 3
028 C010800 244
028 C020800 0
028 C030800 0
028 C040800 2
028 D010800 194
028 D020800 0
028 D030800 0
028 D040800 0
028 E010800 168
028 E020800 0
028 E030800 0
028 E040800 3
028 F010800 86
028 F020800 0
028 F030800 0
028 F040800 7
028 G010800 1541
028 G020800 0
028 G030800 0
<PAGE> PAGE 14
028 G040800 15
028 H000800 0
037 000800 N
038 000800 0
039 000800 Y
040 000800 N
042 A000800 0
042 B000800 0
042 C000800 0
042 D000800 0
042 E000800 0
042 F000800 0
042 G000800 0
042 H000800 0
043 000800 0
044 000800 0
045 000800 Y
046 000800 N
047 000800 Y
048 000800 1.000
048 A010800 0
048 A020800 0.000
048 B010800 0
048 B020800 0.000
048 C010800 0
048 C020800 0.000
048 D010800 0
048 D020800 0.000
048 E010800 0
048 E020800 0.000
048 F010800 0
048 F020800 0.000
048 G010800 0
048 G020800 0.000
048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 0
048 K020800 0.000
055 A000800 N
055 B000800 N
056 000800 Y
057 000800 N
058 A000800 N
059 000800 Y
060 A000800 Y
060 B000800 Y
061 000800 2000
<PAGE> PAGE 15
066 A000800 Y
066 B000800 N
066 C000800 N
066 D000800 Y
066 E000800 N
066 F000800 N
066 G000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
070 A020800 N
070 B010800 Y
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 N
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 N
070 F020800 N
070 G010800 N
070 G020800 N
070 H010800 N
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 N
070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 Y
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 N
070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 4493
071 B000800 1310
071 C000800 2404
071 D000800 54
<PAGE> PAGE 16
072 A000800 10
072 B000800 19
072 C000800 12
072 D000800 0
072 E000800 0
072 F000800 24
072 G000800 20
072 H000800 0
072 I000800 8
072 J000800 5
072 K000800 0
072 L000800 3
072 M000800 5
072 N000800 1
072 O000800 0
072 P000800 0
072 Q000800 13
072 R000800 9
072 S000800 5
072 T000800 0
072 U000800 0
072 V000800 0
072 W000800 3
072 X000800 96
072 Y000800 61
072 Z000800 -4
072AA000800 210
072BB000800 9
072CC010800 252
072CC020800 0
072DD010800 1
072DD020800 0
072EE000800 0
073 A010800 0.0100
073 A020800 0.0000
073 B000800 0.0000
073 C000800 0.0000
074 A000800 0
074 B000800 0
074 C000800 0
074 D000800 0
074 E000800 0
074 F000800 3214
074 G000800 0
074 H000800 0
074 I000800 883
074 J000800 0
074 K000800 2
074 L000800 5
074 M000800 3
074 N000800 4107
<PAGE> PAGE 17
074 O000800 78
074 P000800 0
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 19
074 S000800 0
074 T000800 4010
074 U010800 375
074 U020800 0
074 V010800 10.68
074 V020800 0.00
074 W000800 0.0000
074 X000800 107
074 Y000800 0
075 A000800 0
075 B000800 2921
076 000800 0.00
080 A000800 ICI MUTUAL INSURANCE COMPANY
080 C000800 450
081 A000800 Y
081 B000800 14
082 A000800 Y
082 B000800 25
083 A000800 N
083 B000800 0
084 A000800 N
084 B000800 0
085 A000800 Y
085 B000800 N
SIGNATURE TOM MARSCHEL
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001027596
<NAME> ADVISORS SERIES TRUST
<SERIES>
<NUMBER> 5
<NAME> THE ROCKHAVEN FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 11-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> NOV-03-1997
<PERIOD-END> SEP-30-1998
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 2,130,675
<INVESTMENTS-AT-VALUE> 2,021,713
<RECEIVABLES> 12,626
<ASSETS-OTHER> 18,098
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,052,437
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 61,130
<TOTAL-LIABILITIES> 61,130
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,216,108
<SHARES-COMMON-STOCK> 205,131
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 22,715
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (116,835)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (108,962)
<NET-ASSETS> 1,991,307
<DIVIDEND-INCOME> 36,630
<INTEREST-INCOME> 4,731
<OTHER-INCOME> 0
<EXPENSES-NET> 18,646
<NET-INVESTMENT-INCOME> 22,715
<REALIZED-GAINS-CURRENT> (116,835)
<APPREC-INCREASE-CURRENT> (108,962)
<NET-CHANGE-FROM-OPS> (203,082)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 21,719
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 205,027
<NUMBER-OF-SHARES-REDEEMED> 1,379
<SHARES-REINVESTED> 1,483
<NET-CHANGE-IN-ASSETS> 1,991,307
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 9,321
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 106,289
<AVERAGE-NET-ASSETS> 1,376,527
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.14
<PER-SHARE-GAIN-APPREC> (0.29)
<PER-SHARE-DIVIDEND> (0.14)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.71
<EXPENSE-RATIO> 01.49
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001027596
<NAME> ADVISORS SERIES TRUST
<SERIES>
<NUMBER> 6
<NAME> THE ROCKHAVEN PREMIER DIVIDEND FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 11-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> NOV-03-1997
<PERIOD-END> SEP-30-1998
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 1,764,080
<INVESTMENTS-AT-VALUE> 1,711,232
<RECEIVABLES> 14,822
<ASSETS-OTHER> 17,566
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,743,620
<PAYABLE-FOR-SECURITIES> 39,398
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 25,423
<TOTAL-LIABILITIES> 64,821
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,768,440
<SHARES-COMMON-STOCK> 171,257
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 23,887
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (38,109)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (52,848)
<NET-ASSETS> 1,678,799
<DIVIDEND-INCOME> 32,698
<INTEREST-INCOME> 4,818
<OTHER-INCOME> 0
<EXPENSES-NET> 13,629
<NET-INVESTMENT-INCOME> 23,887
<REALIZED-GAINS-CURRENT> (38,109)
<APPREC-INCREASE-CURRENT> (52,848)
<NET-CHANGE-FROM-OPS> (67,070)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 22,571
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 172,304
<NUMBER-OF-SHARES-REDEEMED> 3,138
<SHARES-REINVESTED> 2,091
<NET-CHANGE-IN-ASSETS> 1,678,799
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6,813
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 102,992
<AVERAGE-NET-ASSETS> 1,006,781
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> 0.21
<PER-SHARE-GAIN-APPREC> (0.21)
<PER-SHARE-DIVIDEND> (0.20)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.80
<EXPENSE-RATIO> 01.49
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001027596
<NAME> ADVISORS SERIES TRUST
<SERIES>
<NUMBER> 8
<NAME> CHASE GROWTH FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 10-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-START> DEC-02-1997
<PERIOD-END> SEP-30-1998
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 3,843,930
<INVESTMENTS-AT-VALUE> 4,096,593
<RECEIVABLES> 6,770
<ASSETS-OTHER> 3,775
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4,107,138
<PAYABLE-FOR-SECURITIES> 78,363
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18,793
<TOTAL-LIABILITIES> 97,156
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,954,535
<SHARES-COMMON-STOCK> 375,343
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (5,569)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (191,647)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 252,663
<NET-ASSETS> 4,009,982
<DIVIDEND-INCOME> 12,305
<INTEREST-INCOME> 19,154
<OTHER-INCOME> 0
<EXPENSES-NET> 35,673
<NET-INVESTMENT-INCOME> (4,214)
<REALIZED-GAINS-CURRENT> (191,647)
<APPREC-INCREASE-CURRENT> 222,098
<NET-CHANGE-FROM-OPS> 26,237
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,355
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 378,450
<NUMBER-OF-SHARES-REDEEMED> (3,241)
<SHARES-REINVESTED> 134
<NET-CHANGE-IN-ASSETS> 3,979,417
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 23,959
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 96,406
<AVERAGE-NET-ASSETS> 2,920,653
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 0.70
<PER-SHARE-DIVIDEND> (0.01)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.68
<EXPENSE-RATIO> 01.47
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
INDEPENDENT AUDITOR'S REPORT
The Board of Trustees and Shareholders
The Rockhaven Fund and The Rockhaven Premier Dividend Fund
We have audited the accompanying statements of assets and liabilities, including
the schedules of investments of The Rockhaven Fund and The Rockhaven Premier
Dividend Fund, series of Advisors Series Trust, as of September 30, 1998, and
the related statements of operations, the statements of changes in net assets,
and the financial highlights for the period indicated in the accompanying
financial statements. These financial statements and financial highlights are
the responsibility of the Fund's management. Our responsibility is to express an
opinion on these financial statements and financial highlights based on our
audits.
We conducted our audits in accordance with the generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements and financial
highlights are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. Our procedures included confirmation of securities owned as of
September 30, 1998, by correspondence with the custodian and brokers. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audits provide a reasonable basis for our
opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly in all material respects, the financial position of The
Rockhaven Fund and The Rockhaven Premier Dividend Fund, series of Advisors
Series Trust, as of September 30, 1998, the results of their operations, the
changes in their net assets and their financial highlights for the period
indicated, in conformity with generally accepted accounting principles.
MCGLADREY & PULLEN, LLP
New York, New York
October 23, 1998
INDEPENDENT AUDITOR'S REPORT
The Board of Trustees and Shareholders
Chase Growth Fund
We have audited the accompanying statement of assets and liabilities, including
the schedule of investments of Chase Growth Fund, series of Advisors Series
Trust, as of September 30, 1998, and the related statements of operations, the
statement of changes in net assets, and the financial highlights for the period
indicated in the accompanying financial statements. These financial statements
and financial highlights are the responsibility of the Fund's management. Our
responsibility is to express an opinion on these financial statements and
financial highlights based on our audit.
We conducted our audit in accordance with the generally accepted auditing
standards. Those standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements and financial
highlights are free of material misstatement. An audit includes examining, on a
test basis, evidence supporting the amounts and disclosures in the financial
statements. Our procedures included confirmation of securities owned as of
September 30, 1998, by correspondence with the custodian and brokers. An audit
also includes assessing the accounting principles used and significant estimates
made by management, as well as evaluating the overall financial statement
presentation. We believe that our audit provides a reasonable basis for our
opinion.
In our opinion, the financial statements and financial highlights referred to
above present fairly in all material respects, the financial position of Chase
Growth Fund, series of Advisors Series Trust, as of September 30, 1998, the
results of its operations, the changes in its net assets and the financial
highlights for the period indicated, in conformity with generally accepted
accounting principles.
MCGLADREY & PULLEN, LLP
New York, New York
October 23, 1998
