CYPRESSTREE SENIOR RATE FUND
NSAR-A, 1999-08-09
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<PAGE>      PAGE  1
000 A000000 06/30/1999
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<PAGE>      PAGE  2
011 C010001 BOSTON
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<PAGE>      PAGE  3
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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087 A020000 23280Q105
SIGNATURE   CHRISTINA ROWNTREE
TITLE       FUND ADMIN. MANAGER



<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial informtion extracted from the Fund's
Semi-annual Financial Statements, and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<CIK> 0001042805
<NAME> CYPRESSTREE SENIOR FLOATING RATE FUND

<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1999
<PERIOD-START>                             JAN-01-1999
<PERIOD-END>                               JUN-30-1999
<INVESTMENTS-AT-COST>                         33038631
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<EQUALIZATION>                                       0
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<PER-SHARE-NAV-BEGIN>                             9.93
<PER-SHARE-NII>                                   0.34
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<EXPENSE-RATIO>                                   0.34


</TABLE>


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