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001 C000000 6029521100
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002 B000000 PHOENIX
002 C000000 AZ
002 D010000 85018
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007 A000000 Y
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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 LLC
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 PRICEWATERHOUSECOOPERS
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
015 A00AA01 FIRSTAR BANK N.A.
015 B00AA01 C
015 C01AA01 CINCINNATI
015 C02AA01 OH
015 C03AA01 45202
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
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020 A000001 BRIDGE TRADING CO
020 B000001 43-1450530
020 C000001 5
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020 B000002 95-2622900
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020 A000003 MERRILL LYNCH
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020 C000003 4
020 A000004 FORUM SECURITIES
020 B000004 62-1287496
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020 A000005 PRUDENTIAL SECURITIES, INC
020 B000005 22-2347336
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<PAGE> PAGE 3
022 A000003 MORGAN STANLEY
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022 A000007 PRUDENTIAL SECURITIES INC
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022 D000007 520
022 A000008 JEFFERIES & CO INC
022 B000008 95-2622900
022 C000008 226
022 D000008 430
022 A000009 BEAR STEARNS & CO INC
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<PAGE> PAGE 4
027 000000 Y
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054 L00AA00 N
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054 O00AA00 N
055 A00AA00 N
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062 F00AA00 0.0
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<PAGE> PAGE 5
078 000000 N
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<PAGE> PAGE 6
030 C000500 0.00
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048 G020500 0.000
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048 H020500 0.000
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048 I020500 0.000
048 J010500 0
048 J020500 0.000
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<PAGE> PAGE 7
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 N
066 F000500 N
066 G000500 Y
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
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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
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 3898
071 B000500 3398
071 C000500 2997
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<PAGE> PAGE 8
072 A000500 12
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072 Y000500 96
072 Z000500 26
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074 D000500 554
074 E000500 647
074 F000500 1845
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074 L000500 7
074 M000500 21
074 N000500 3087
<PAGE> PAGE 9
074 O000500 0
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074 U010500 255
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075 B000500 3109
076 000500 0.00
080 A000500 ICI MUTUAL INSURANCE COMPANY
080 C000500 450
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081 B000500 21
082 A000500 Y
082 B000500 25
083 A000500 N
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084 A000500 N
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 1598
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<PAGE> PAGE 10
028 D030600 0
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030 C000600 0.00
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032 000600 0
033 000600 0
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039 000600 Y
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043 000600 14
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<PAGE> PAGE 11
048 E020600 0.000
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048 I020600 0.000
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058 A000600 N
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061 000600 1000
066 A000600 Y
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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
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070 J020600 N
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070 K020600 Y
<PAGE> PAGE 12
070 L010600 Y
070 L020600 N
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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 12059
071 B000600 6325
071 C000600 5263
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<PAGE> PAGE 13
073 A010600 0.1900
073 A020600 0.0000
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074 D000600 2419
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074 F000600 3545
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075 A000600 0
075 B000600 5428
076 000600 0.00
080 A000600 ICI MUTUAL INSURANCE COMPANY
080 C000600 450
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081 B000600 21
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
<PAGE> PAGE 14
008 C000801 801-3396
008 D010801 CHARLOTTESVILLE
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
074 Y000800 0
075 A000800 0
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080 A000800 ICI MUTUAL INSURANCE COMPANY
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082 B000800 25
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SIGNATURE TOM MARSCHEL
TITLE ASSISTANT TREASURER
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<ARTICLE> 6
<CIK> 1027596
<NAME> ADVISORS SERIES TRUST
<SERIES>
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<NAME> THE ROCKHAVEN FUND
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<S> <C>
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<NET-ASSETS> 2,993,349
<DIVIDEND-INCOME> 72,257
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 46,553
<NET-INVESTMENT-INCOME> 25,704
<REALIZED-GAINS-CURRENT> 188,976
<APPREC-INCREASE-CURRENT> 342,499
<NET-CHANGE-FROM-OPS> 557,179
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 90,975
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<NET-CHANGE-IN-ASSETS> 1,002,042
<ACCUMULATED-NII-PRIOR> 22,715
<ACCUMULATED-GAINS-PRIOR> (116,835)
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<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1027596
<NAME> ADVISORS SERIES TRUST
<SERIES>
<NUMBER> 6
<NAME> THE ROCKHAVEN PREMIER DIVIDEND FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
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<INVESTMENTS-AT-COST> 7,896,282
<INVESTMENTS-AT-VALUE> 8,638,245
<RECEIVABLES> 110,953
<ASSETS-OTHER> 19,508
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,768,706
<PAYABLE-FOR-SECURITIES> 4,000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 27,355
<TOTAL-LIABILITIES> 31,355
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,760,581
<SHARES-COMMON-STOCK> 666,061
<SHARES-COMMON-PRIOR> 171,257
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 234,807
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 741,963
<NET-ASSETS> 8,737,351
<DIVIDEND-INCOME> 155,008
<INTEREST-INCOME> 7,847
<OTHER-INCOME> 0
<EXPENSES-NET> 81,044
<NET-INVESTMENT-INCOME> 81,811
<REALIZED-GAINS-CURRENT> 276,358
<APPREC-INCREASE-CURRENT> 794,811
<NET-CHANGE-FROM-OPS> 1,152,980
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 86,569
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 520,970
<NUMBER-OF-SHARES-REDEEMED> 32,319
<SHARES-REINVESTED> 6,153
<NET-CHANGE-IN-ASSETS> 7,058,552
<ACCUMULATED-NII-PRIOR> 23,887
<ACCUMULATED-GAINS-PRIOR> (38,109)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 40,522
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 166,206
<AVERAGE-NET-ASSETS> 5,428,053
<PER-SHARE-NAV-BEGIN> 9.80
<PER-SHARE-NII> 0.18
<PER-SHARE-GAIN-APPREC> 3.33
<PER-SHARE-DIVIDEND> (0.19)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.12
<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 1027596
<NAME> ADVISORS SERIES TRUST
<SERIES>
<NUMBER> 8
<NAME> CHASE GROWTH FUND
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 12-MOS
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<PERIOD-START> OCT-01-1998
<PERIOD-END> SEP-30-1999
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<INVESTMENTS-AT-VALUE> 9,146,331
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<TOTAL-LIABILITIES> 19,652
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<SHARES-COMMON-PRIOR> 375,343
<ACCUMULATED-NII-CURRENT> (39,492)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (284,797)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,529,460
<NET-ASSETS> 9,139,594
<DIVIDEND-INCOME> 26,635
<INTEREST-INCOME> 32,377
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<NET-CHANGE-FROM-OPS> 1,144,155
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<DISTRIBUTIONS-OF-GAINS> 0
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</TABLE>
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street
Washington D.C. 20549
We were previously the independent accountants for The Rockhaven Fund, series of
Advisors Series Trust. We have read their notification of change in independent
accountants made in Item 77K of Form N-SAR. We agree with the statements in the
filing.
McGLADREY & PULLEN, LLP
New York, New York
November 29, 1999
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street
Washington D.C. 20549
We were previously the independent accountants for The Rockhaven Premier
Dividend Fund, series of Advisors Series Trust. We have read their notification
of change in independent accountants made in Item 77K of Form N-SAR. We agree
with the statements in the filing.
McGLADREY & PULLEN, LLP
New York, New York
November 29, 1999
Securities and Exchange Commission
Judiciary Plaza
450 Fifth Street
Washington D.C. 20549
We were previously the independent accountants for the Chase Growth Fund, series
of Advisors Series Trust. We have read their notification of change in
independent accountants made in Item 77K of Form N-SAR. We agree with the
statements in the filing.
McGLADREY & PULLEN, LLP
New York, New York
November 29, 1999
REPORT OF INDEPENDENT ACCOUNTANTS
TO THE BOARD OF TRUSTEES
ADVISORS SERIES TRUST
In planning and performing our audit of the financial statements of The
Rockhaven Fund, The Rockhaven Premier Dividend Fund and Chase Growth Fund,
separate series of Advisors Series Trust, for the year ended September 30, 1999,
we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply with
the requirements of Form N-SAR, not to provide assurance on internal control.
The management of Advisors Series Trust is responsible for establishing and
maintaining internal control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of controls. Generally, controls that are relevant to an audit pertain to
the entity's objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that controls may become inadequate
because of changes in conditions or that the effectiveness of their design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
September 30, 1999.
This report is intended solely for the information and use of the Board of
Trustees, management and the Securities and Exchange Commission and is not
intended to be and should not be used by anyone other than these specified
parties.
New York, New York
November 5, 1999
