KEYSTONE DIVERSIFIED BOND FUND B-2
NSAR-B, 1996-10-30
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SIGNATURE   J. KEVIN KENELY                              
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM ACCOUNTING
RECORDS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH ACCOUNTING
RECORDS.
</LEGEND>
<SERIES>
<NUMBER>	101
<NAME>	KEYSTONE DIVERSIFIED BOND FUND (B-2) CLASS A
<PERIOD-TYPE>	12-MOS
<FISCAL-YEAR-END>	AUG-31-1996
<PERIOD-START>	SEP-01-1995
<PERIOD-END>	AUG-31-1996
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</TABLE>

The Trustees and Shareholders
Keystone Diversified Bond Fund (B-2)

In planning and  performing  our audit of the  financial  statements of Keystone
Diversified  Bond Fund (B-2) for the year ended August 31, 1996,  we  considered
their  internal  control  structure,   including   procedures  for  safeguarding
securities,  in order to determine  our auditing  procedures  for the purpose of
expressing  an  opinion  on the  financial  statements  and to  comply  with the
requirements  of Form N-SAR,  not to provide  assurance on the internal  control
structure.

The  management  of  Keystone  Diversified  Bond Fund (B-2) is  responsible  for
establishing and maintaining an internal control  structure.  In fulfilling this
responsibility,  estimates  and  judgments  made by  management  are required to
assess the expected  benefits and related  costs of internal  control  structure
policies and procedures.  Two of the objectives of an internal control structure
are to provide  management  with  reasonable,  but not absolute,  assurance that
assets are  safeguarded  against loss from  unauthorized  use or disposition and
that transactions are executed in accordance with management's authorization and
recorded  properly to permit  preparation of financial  statements in conformity
with generally accepted accounting principles.

Because of inherent  limitations in any internal control  structure,  errors and
irregularities may occur and not be detected. Also, projection of any evaluation
of the  structure  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  structure  would not  necessarily
disclose all matters in the internal  control  structure  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 the specific internal control structure elements does not reduce to
a relatively  low level the risk that errors or  irregularities  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 structure,  including procedures for safeguarding
securities,  that we consider to be material  weaknesses  as defined above as of
August 31, 1996.

This report is intended solely for the information and use of management and the
Securities and Exchange Commission.


KPMG Peat Marwick LLP

Boston, Massachusetts
September 27, 1996


<PAGE>





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