<PAGE> PAGE 1
000 B000000 06/30/1999
000 C000000 0001054556
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 EII REALTY SECURITIES TRUST
001 B000000 811-08649
001 C000000 2126440794
002 A000000 667 MADISON AVENUE, 16TH FLOOR
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10021
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 EII REALTY SECURITIES FUND
007 C030100 N
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 JEFFERIES & COMPANY, INC.
020 B000001 95-2622900
020 C000001 23
020 A000002 GREEN STREET ADVISORS
020 B000002 56-1951478
020 C000002 22
020 A000003 PAINE WEBBER
020 B000003 13-2760086
020 C000003 11
020 A000004 LEGG MASON
020 B000004 52-1200960
020 C000004 9
020 A000005 ALEX BROWN & SONS
020 B000005 52-1434118
020 C000005 8
020 A000006 MERRILL LYNCH
020 B000006 13-5674085
<PAGE> PAGE 2
020 C000006 6
020 A000007 PRUDENTIAL SECURITIES, INC.
020 B000007 22-2347336
020 C000007 5
020 A000008 LEHMAN BROTHERS
020 B000008 13-2518406
020 C000008 5
020 A000009 DONALDSON LUFKIN & JENRETTE
020 B000009 13-2741729
020 C000009 5
020 A000010 GOLDMAN SACHS
020 B000010 13-4019460
020 C000010 5
021 000000 121
022 A000001 GOLDMAN SACHS
022 B000001 13-4019460
022 C000001 16670
022 D000001 15106
022 A000002 JEFFERIES & COMPANY, INC.
022 B000002 95-2622900
022 C000002 0
022 D000002 70
022 A000003 MERRILL LYNCH
022 B000003 13-5674085
022 C000003 62
022 D000003 0
022 A000004 MONTGOMERY SECURITIES
022 B000004 94-1701676
022 C000004 0
022 D000004 25
022 C000005 0
022 D000005 0
022 C000006 0
022 D000006 0
022 C000007 0
022 D000007 0
022 C000008 0
022 D000008 0
022 C000009 0
022 D000009 0
022 C000010 0
022 D000010 0
023 C000000 16732
023 D000000 15201
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
<PAGE> PAGE 3
026 G020000 N
026 H000000 N
027 000000 Y
077 A000000 Y
077 B000000 Y
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
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 A000101 EII REALTY SECURITIES, INC.
008 B000101 A
008 C000101 801-044099
008 D010101 NEW YORK
008 D020101 NY
008 D030101 10021
010 A000101 EII REALTY SECURITIES, INC.
010 C010101 NEW YORK
010 C020101 NY
010 C030101 10021
012 A000101 PFPC INC.
012 B000101 85-825
012 C010101 WILMINGTON
012 C020101 DE
012 C030101 19809
013 A000101 ERNST & YOUNG LLP
<PAGE> PAGE 4
013 B010101 NEW YORK
013 B020101 NY
013 B030101 10019
015 A000101 PFPC TRUST COMPANY
015 B000101 C
015 C010101 WILMINGTON
015 C020101 DE
015 C030101 19809
015 E010101 X
018 000100 Y
019 A000100 Y
019 B000100 1
019 C000100 EII REALTY
024 000100 N
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 9298
028 A020100 0
028 A030100 0
028 A040100 2007
028 B010100 1769
028 B020100 0
028 B030100 0
028 B040100 0
028 C010100 2016
028 C020100 0
028 C030100 0
028 C040100 0
028 D010100 1020
028 D020100 510
028 D030100 0
028 D040100 0
028 E010100 9551
028 E020100 0
028 E030100 0
028 E040100 0
028 F010100 1985
028 F020100 0
028 F030100 0
028 F040100 9
028 G010100 25639
028 G020100 510
028 G030100 0
028 G040100 2016
028 H000100 0
<PAGE> PAGE 5
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
031 A000100 0
031 B000100 0
032 000100 0
033 000100 0
034 000100 N
035 000100 0
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 N
041 000100 N
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 0
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.750
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
<PAGE> PAGE 6
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
054 A000100 Y
054 B000100 Y
054 C000100 N
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 N
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 N
054 M000100 Y
054 N000100 N
054 O000100 Y
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 N
060 B000100 N
061 000100 1000000
062 A000100 N
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
<PAGE> PAGE 7
063 B000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 N
066 F000100 N
066 G000100 Y
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 N
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 Y
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 53605
071 B000100 4473
071 C000100 25905
<PAGE> PAGE 8
071 D000100 17
072 A000100 12
072 B000100 1853
072 C000100 80
072 D000100 0
072 E000100 0
072 F000100 204
072 G000100 68
072 H000100 0
072 I000100 16
072 J000100 18
072 K000100 0
072 L000100 4
072 M000100 44
072 N000100 7
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 37
072 S000100 50
072 T000100 0
072 U000100 37
072 V000100 0
072 W000100 13
072 X000100 498
072 Y000100 227
072 Z000100 1662
072AA000100 0
072BB000100 690
072CC010100 0
072CC020100 268
072DD010100 1022
072DD020100 0
072EE000100 0
073 A010100 0.3210
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 2941
074 D000100 0
074 E000100 0
074 F000100 49089
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 25
074 K000100 0
074 L000100 406
074 M000100 167
<PAGE> PAGE 9
074 N000100 52628
074 O000100 171
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 109
074 S000100 0
074 T000100 52348
074 U010100 5581
074 U020100 0
074 V010100 9.38
074 V020100 0.00
074 W000100 0.0000
074 X000100 69
074 Y000100 0
075 A000100 0
075 B000100 27183
076 000100 0.00
080 A000100 RELIANCE INSURANCE COMPANY
080 B000100 GREAT AMERICAN INSURANCE COMPANY
080 C000100 1000
081 A000100 N
081 B000100 0
082 A000100 Y
082 B000100 5
083 A000100 N
083 B000100 0
084 A000100 N
084 B000100 0
085 A000100 N
085 B000100 N
SIGNATURE MARY JANE MALONEY
TITLE MANAGER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001054556
<NAME> EII REALTY SECURITIES TRUST
<SERIES>
<NUMBER> 01
<NAME> EII REALTY SECURITIES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 52302535
<INVESTMENTS-AT-VALUE> 52030404
<RECEIVABLES> 431240
<ASSETS-OTHER> 166010
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 52627654
<PAYABLE-FOR-SECURITIES> 171085
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 108116
<TOTAL-LIABILITIES> 279201
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 52671075
<SHARES-COMMON-STOCK> 5580669
<SHARES-COMMON-PRIOR> 50091
<ACCUMULATED-NII-CURRENT> 642098
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (692589)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (272131)
<NET-ASSETS> 52348453
<DIVIDEND-INCOME> 1853398
<INTEREST-INCOME> 79648
<OTHER-INCOME> 0
<EXPENSES-NET> (271152)
<NET-INVESTMENT-INCOME> 1661894
<REALIZED-GAINS-CURRENT> (690030)
<APPREC-INCREASE-CURRENT> (286028)
<NET-CHANGE-FROM-OPS> 685836
<EQUALIZATION> 52171075
<DISTRIBUTIONS-OF-INCOME> (1022314)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5642946
<NUMBER-OF-SHARES-REDEEMED> (220901)
<SHARES-REINVESTED> 108533
<NET-CHANGE-IN-ASSETS> 51834597
<ACCUMULATED-NII-PRIOR> 2518
<ACCUMULATED-GAINS-PRIOR> (2559)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 203743
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 498370
<AVERAGE-NET-ASSETS> 27183226
<PER-SHARE-NAV-BEGIN> 10.26
<PER-SHARE-NII> .39
<PER-SHARE-GAIN-APPREC> (.95)
<PER-SHARE-DIVIDEND> (.32)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.38
<EXPENSE-RATIO> 1.00
</TABLE>
EXHIBIT INDEX
Exhibit A: Attachment to item 77B:
Accountants report on internal control
- -------------------------------------------------------
Exhibit A:
Report of Independent Auditors
To the Shareholders and Board of Trustees of
E.I.I. Realty Securities Fund
In planning and performing our audit of the financial statements of
E.I.I. Realty Securities Fund ("the Fund"), a series of the E.I.I.
Realty Securities Trust, for the year ended June 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, and not to provide assurance on the internal control.
The management of E.I.I. Realty Securities Fund 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 it may become inadequate because of changes in conditions
or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control would not necessarily
disclose all matters in the 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 errors 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 the internal control and its operation,
including controls for safeguarding securities, that we consider to
be material weaknesses as defined above at June 30, 1999.
This report is intended solely for the information and use of the
board of trustees and management of E.I.I. Realty Securities Fund
and the Securities and Exchange Commission and is not intended to
be and should not be used by anyone other than these specified
parties.
ERNST & YOUNG LLP
August 2, 1999
