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<PAGE> PAGE 2
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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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
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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074 K000500 0
074 L000500 0
<PAGE> PAGE 22
074 M000500 0
074 N000500 147
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 0
074 S000500 0
074 T000500 147
074 U010500 7
074 U020500 10
074 V010500 12.80
074 V020500 12.79
074 W000500 0.0000
074 X000500 0
074 Y000500 0
075 A000500 0
075 B000500 0
076 000500 0.00
SIGNATURE JOHN MILLETTE
TITLE SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Income Portfolio- Composite Annual Report for the fiscal year ended 4/30/99 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Farmers Income Portfolio-Class A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 153,140
<INVESTMENTS-AT-VALUE> 154,166
<RECEIVABLES> 196
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 154,362
<PAYABLE-FOR-SECURITIES> 210
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 239
<TOTAL-LIABILITIES> 449
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 151,649
<SHARES-COMMON-STOCK> 8,439
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1,238
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,026
<NET-ASSETS> 153,913
<DIVIDEND-INCOME> 1,477
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 239
<NET-INVESTMENT-INCOME> 1,238
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 1,026
<NET-CHANGE-FROM-OPS> 2,264
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 91,574
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 133,913
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 239
<AVERAGE-NET-ASSETS> 79,206
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.11
<PER-SHARE-GAIN-APPREC> 0.10
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.21
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Income Portfolio- Composite Annual Report for the fiscal year ended 4/30/99 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 12
<NAME> Farmers Income Portfolio-Class B
<S> <C>
<PERIOD-TYPE> year
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 153,140
<INVESTMENTS-AT-VALUE> 154,166
<RECEIVABLES> 196
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 154,362
<PAYABLE-FOR-SECURITIES> 210
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 239
<TOTAL-LIABILITIES> 449
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 151,649
<SHARES-COMMON-STOCK> 4,173
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1,238
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,026
<NET-ASSETS> 153,913
<DIVIDEND-INCOME> 1,477
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 239
<NET-INVESTMENT-INCOME> 1,238
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 1,026
<NET-CHANGE-FROM-OPS> 2,264
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 40,075
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 133,913
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 239
<AVERAGE-NET-ASSETS> 49,013
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.12
<PER-SHARE-GAIN-APPREC> 0.07
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.19
<EXPENSE-RATIO> 1.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Income With Growth Portfolio- Composite Annual Report for the fiscal year ended
4/30/99 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Farmers Income with Growth Portfolio-Class A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 108,465
<INVESTMENTS-AT-VALUE> 110,560
<RECEIVABLES> 220
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 110,780
<PAYABLE-FOR-SECURITIES> 250
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 198
<TOTAL-LIABILITIES> 448
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 107,729
<SHARES-COMMON-STOCK> 4,223
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 493
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,095
<NET-ASSETS> 110,332
<DIVIDEND-INCOME> 691
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 198
<NET-INVESTMENT-INCOME> 493
<REALIZED-GAINS-CURRENT> 15
<APPREC-INCREASE-CURRENT> 2,095
<NET-CHANGE-FROM-OPS> 2,603
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 40,711
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 90,332
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 108
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 198
<AVERAGE-NET-ASSETS> 49,655
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.07
<PER-SHARE-GAIN-APPREC> 0.26
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.33
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Income With Growth Portfolio- Composite Annual Report for the fiscal year ended
4/30/99 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<SERIES>
<NUMBER> 22
<NAME> Farmers Income with Growth Portfolio-Class B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 108,465
<INVESTMENTS-AT-VALUE> 110,560
<RECEIVABLES> 220
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 110,780
<PAYABLE-FOR-SECURITIES> 250
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 198
<TOTAL-LIABILITIES> 448
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 107,729
<SHARES-COMMON-STOCK> 4,730
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 493
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,095
<NET-ASSETS> 110,332
<DIVIDEND-INCOME> 691
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 198
<NET-INVESTMENT-INCOME> 493
<REALIZED-GAINS-CURRENT> 15
<APPREC-INCREASE-CURRENT> 2,095
<NET-CHANGE-FROM-OPS> 2,603
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 47,018
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 90,332
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 108
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 198
<AVERAGE-NET-ASSETS> 49,984
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.27
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.32
<EXPENSE-RATIO> 1.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Balanced Portfolio-Composite Annual Report for the fiscal year ended 4/30/99 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> Farmers Balanced Portfolio- Class A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 129,080
<INVESTMENTS-AT-VALUE> 132,381
<RECEIVABLES> 118
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 132,499
<PAYABLE-FOR-SECURITIES> 125
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 210
<TOTAL-LIABILITIES> 335
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 128,349
<SHARES-COMMON-STOCK> 5,153
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 483
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 31
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,301
<NET-ASSETS> 132,164
<DIVIDEND-INCOME> 693
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 210
<NET-INVESTMENT-INCOME> 483
<REALIZED-GAINS-CURRENT> 31
<APPREC-INCREASE-CURRENT> 3,301
<NET-CHANGE-FROM-OPS> 3,815
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 52,062
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 112,164
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 114
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 210
<AVERAGE-NET-ASSETS> 52,321
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 0.39
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.45
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Balanced Portfolio-Composite Annual Report for the fiscal year ended 4/30/99 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 32
<NAME> Farmers Balanced Portfolio- Class B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 129,080
<INVESTMENTS-AT-VALUE> 132,381
<RECEIVABLES> 118
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 132,499
<PAYABLE-FOR-SECURITIES> 125
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 210
<TOTAL-LIABILITIES> 335
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 128,349
<SHARES-COMMON-STOCK> 5,471
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 483
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 31
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,301
<NET-ASSETS> 132,164
<DIVIDEND-INCOME> 693
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 210
<NET-INVESTMENT-INCOME> 483
<REALIZED-GAINS-CURRENT> 31
<APPREC-INCREASE-CURRENT> 3,301
<NET-CHANGE-FROM-OPS> 3,815
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 56,287
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 112,164
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 114
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 210
<AVERAGE-NET-ASSETS> 52,975
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.38
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.43
<EXPENSE-RATIO> 1.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Growth With Income Portfolio- Composite Annual Report for the fiscal year ended
4/30/99 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> Farmers Growth with Income Portfolio-Class A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 348,395
<INVESTMENTS-AT-VALUE> 352,666
<RECEIVABLES> 574
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 353,240
<PAYABLE-FOR-SECURITIES> 182
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 234
<TOTAL-LIABILITIES> 416
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 348,070
<SHARES-COMMON-STOCK> 23,615
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 429
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 54
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,271
<NET-ASSETS> 352,824
<DIVIDEND-INCOME> 663
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 234
<NET-INVESTMENT-INCOME> 429
<REALIZED-GAINS-CURRENT> 54
<APPREC-INCREASE-CURRENT> 4,271
<NET-CHANGE-FROM-OPS> 4,754
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 285,996
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 332,824
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 134
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 234
<AVERAGE-NET-ASSETS> 72,565
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0.59
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.63
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Growth With Income Portfolio- Composite Annual Report for the fiscal year ended
4/30/99 and is qualified in its entirety by reference to such financial
statements.
</LEGEND>
<SERIES>
<NUMBER> 41
<NAME> Farmers Growth with Income Portfolio-Class B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 348,395
<INVESTMENTS-AT-VALUE> 352,666
<RECEIVABLES> 574
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 353,240
<PAYABLE-FOR-SECURITIES> 182
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 234
<TOTAL-LIABILITIES> 416
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 348,070
<SHARES-COMMON-STOCK> 4,334
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 429
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 54
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4,271
<NET-ASSETS> 352,824
<DIVIDEND-INCOME> 663
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 234
<NET-INVESTMENT-INCOME> 429
<REALIZED-GAINS-CURRENT> 54
<APPREC-INCREASE-CURRENT> 4,271
<NET-CHANGE-FROM-OPS> 4,754
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 42,074
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 332,824
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 134
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 234
<AVERAGE-NET-ASSETS> 50,837
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0.57
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.61
<EXPENSE-RATIO> 1.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Growth Portfolio- Composite Annual Report for the fiscal year ended 4/30/99 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> Farmers Growth Portfolio-Class A
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 139,146
<INVESTMENTS-AT-VALUE> 146,206
<RECEIVABLES> 942
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 147,148
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 215
<TOTAL-LIABILITIES> 215
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 139,697
<SHARES-COMMON-STOCK> 7,200
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 99
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 77
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,060
<NET-ASSETS> 146,933
<DIVIDEND-INCOME> 314
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 215
<NET-INVESTMENT-INCOME> 99
<REALIZED-GAINS-CURRENT> 77
<APPREC-INCREASE-CURRENT> 7,060
<NET-CHANGE-FROM-OPS> 7,236
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 78,322
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 126,933
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 120
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 215
<AVERAGE-NET-ASSETS> 59,426
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0.79
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.80
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the Farmers
Growth Portfolio- Composite Annual Report for the fiscal year ended 4/30/99 and
is qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 52
<NAME> Farmers Growth Portfolio-Class B
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> APR-30-1999
<PERIOD-START> MAR-09-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 139,146
<INVESTMENTS-AT-VALUE> 146,206
<RECEIVABLES> 942
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 147,148
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 215
<TOTAL-LIABILITIES> 215
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 139,697
<SHARES-COMMON-STOCK> 4,281
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 99
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 77
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7,060
<NET-ASSETS> 146,933
<DIVIDEND-INCOME> 314
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 215
<NET-INVESTMENT-INCOME> 99
<REALIZED-GAINS-CURRENT> 77
<APPREC-INCREASE-CURRENT> 7,060
<NET-CHANGE-FROM-OPS> 7,236
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 41,375
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 126,933
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 120
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 215
<AVERAGE-NET-ASSETS> 50,781
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0.78
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.79
<EXPENSE-RATIO> 1.75
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
REPORT OF INDEPENDENT ACCOUNTANTS
To the Trustees and Shareholders of Farmers Investment Trust: Income, Income
with Growth, Balanced, Growth with Income, and Growth Portfolios:
In planning and performing our audit of the financial statements and financial
highlights (hereinafter referred to as "financial statements") of Farmers
Investment Trust: Income, Income with Growth, Balanced, Growth with Income, and
Growth Portfolios (the "Portfolios"), for the year ended April 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 the Portfolios 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, error 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 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
April 30, 1999.
This report is intended solely for the information and use of management, the
Trustees of Farmers Investment Trust and the Securities and Exchange Commission.
/s/PricewaterhouseCoopers LLP
PricewaterhouseCoopers LLP
Boston, Massachusetts
June 9, 1999
