<PAGE> PAGE 1
000 A000000 05/31/98
000 C000000 0000746703
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 2.2.a
000 J000000 A
001 A000000 PAINEWEBBER MANAGED INVESTMENT TRUST
001 B000000 811-4040
001 C000000 2127131074
002 A000000 1285 AVENUE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 PAINEWEBBER U.S. GOVERNMENT INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 PAINEWEBBER INVESTMENT GRADE INCOME FUND
007 C030200 N
007 C010300 3
007 C020300 PAINEWEBBER HIGH INCOME FUND
007 C030300 N
007 C010400 4
007 C020400 PW LOW DURATION U.S. GOV'T INCOME FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 PAINEWEBBER INC.
008 B00AA01 A
008 C00AA01 801-01763
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10019
008 A00AA02 MITCHELL HUTCHINS ASSET MANAGEMENT , INC.
008 B00AA02 S
008 C00AA02 801-13219
008 D01AA02 NEW YORK
008 D02AA02 NY
<PAGE> PAGE 2
008 D03AA02 10019
010 A00AA01 PAINEWEBBER, INC.
010 B00AA01 801-07163
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10019
011 A00AA01 PAINEWEBBER, INC.
011 B00AA01 8-16267
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10019
012 A00AA01 PNC BANK
012 B00AA01 85-0000000
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 ERNST & YOUNG
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 PAINEWEBBER INC.
014 B00AA01 8-16267
015 A00AA01 STATE STREET BANK AND TRUST CO.
015 B00AA01 C
015 C01AA01 NORTH QUINCY
015 C02AA01 MA
015 C03AA01 02171
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 31
019 C00AA00 PAINEWEBBR
020 A000001 SMITH BARNEY, HARRIS UPHAM & CO, INC
020 B000001 13-1912900
020 C000001 70
020 A000002 BEAR STERNS SECURITIES CORP
020 B000002 13-3299429
020 C000002 25
020 A000003 MILLER TABAK HIRCH
020 B000003 13-3086847
020 C000003 7
020 A000004 JEFFRIES & COMPANY
020 B000004 95-2622900
020 C000004 1
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 103
<PAGE> PAGE 3
022 A000001 SALOMON BROTHERS
022 B000001 13-3082694
022 C000001 2136830
022 D000001 239245
022 A000002 STATE STREET BANK
022 B000002 04-1867445
022 C000002 1360095
022 D000002 104170
022 A000003 DRESDNER GILTS
022 B000003 00-0000000
022 C000003 960966
022 D000003 0
022 A000004 CITICORP SECURITIES MARKET, INCORPORATED
022 B000004 00-0000000
022 C000004 718329
022 D000004 0
022 A000005 GOLDMAN SACHS
022 B000005 13-5108880
022 C000005 613725
022 D000005 83745
022 A000006 FIRST CHICAGO CAPITAL MARKETS, INCORPORATED
022 B000006 36-3595942
022 C000006 544313
022 D000006 3197
022 A000007 MERRILL LYNCH, PIERCE, FENNER & SMITH INC
022 B000007 13-5674085
022 C000007 189931
022 D000007 280522
022 A000008 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP
022 B000008 13-2741729
022 C000008 232763
022 D000008 217194
022 A000009 GREENWICH SECURITIES, INCORPORATED
022 B000009 13-2697091
022 C000009 186239
022 D000009 198051
022 A000010 DRESDNER
022 B000010 13-6172414
022 C000010 325278
022 D000010 0
023 C000000 8381031
023 D000000 1923130
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
<PAGE> PAGE 4
026 A000000 Y
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 Y
027 000000 Y
077 A000000 Y
077 B000000 N
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 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
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
028 A010100 5168
028 A020100 112
028 A030100 0
028 A040100 9472
<PAGE> PAGE 5
028 B010100 4124
028 B020100 112
028 B030100 0
028 B040100 9085
028 C010100 2181
028 C020100 104
028 C030100 0
028 C040100 6653
028 D010100 3139
028 D020100 110
028 D030100 0
028 D040100 9963
028 E010100 3069
028 E020100 101
028 E030100 0
028 E040100 9939
028 F010100 1895
028 F020100 98
028 F030100 0
028 F040100 7082
028 G010100 19576
028 G020100 637
028 G030100 0
028 G040100 52194
028 H000100 974
029 000100 Y
030 A000100 19
030 B000100 4.00
030 C000100 0.00
031 A000100 12
031 B000100 0
032 000100 0
033 000100 7
034 000100 Y
035 000100 35
036 A000100 N
036 B000100 0
037 000100 N
038 000100 0
039 000100 Y
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 100
043 000100 629
<PAGE> PAGE 6
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.500
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
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
054 A000100 Y
054 B000100 Y
054 C000100 Y
054 D000100 N
054 E000100 N
054 F000100 N
054 G000100 Y
054 H000100 Y
054 I000100 N
054 J000100 Y
054 K000100 N
054 L000100 Y
054 M000100 Y
054 N000100 N
054 O000100 Y
055 A000100 N
055 B000100 N
056 000100 N
057 000100 N
<PAGE> PAGE 7
058 A000100 N
059 000100 Y
060 A000100 N
060 B000100 N
061 000100 1000
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 9.6
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 28.4
062 N000100 58.3
062 O000100 0.0
062 P000100 3.7
062 Q000100 0.0
062 R000100 0.0
063 A000100 0
063 B000100 18.2
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 Y
070 G020100 Y
070 H010100 N
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 Y
<PAGE> PAGE 8
070 K020100 Y
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 Y
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 N
070 Q010100 Y
070 Q020100 N
070 R010100 Y
070 R020100 Y
071 A000100 631436
071 B000100 701407
071 C000100 343584
071 D000100 184
072 A000100 6
072 B000100 12121
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 896
072 G000100 0
072 H000100 0
072 I000100 170
072 J000100 96
072 K000100 35
072 L000100 39
072 M000100 5
072 N000100 52
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 33
072 S000100 25
072 T000100 629
072 U000100 0
072 V000100 0
072 W000100 26
072 X000100 2006
072 Y000100 0
072 Z000100 10115
072AA000100 6105
072BB000100 0
072CC010100 3673
072CC020100 0
072DD010100 8307
072DD020100 1808
<PAGE> PAGE 9
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 32928
074 C000100 0
074 D000100 355650
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 66
074 I000100 0
074 J000100 4014
074 K000100 0
074 L000100 3803
074 M000100 45
074 N000100 396506
074 O000100 49886
074 P000100 246
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 64
074 R040100 0
074 S000100 2242
074 T000100 344068
074 U010100 31198
074 U020100 7025
074 V010100 9.00
074 V020100 9.00
074 W000100 0.0000
074 X000100 22
074 Y000100 0
075 A000100 0
075 B000100 359308
076 000100 0.00
028 A010200 4125
028 A020200 809
028 A030200 0
028 A040200 4093
028 B010200 4939
028 B020200 792
028 B030200 0
028 B040200 3911
028 C010200 2755
028 C020200 788
028 C030200 0
028 C040200 3697
028 D010200 6093
<PAGE> PAGE 10
028 D020200 856
028 D030200 0
028 D040200 5020
028 E010200 3602
028 E020200 827
028 E030200 0
028 E040200 6284
028 F010200 3547
028 F020200 821
028 F030200 0
028 F040200 5741
028 G010200 25061
028 G020200 4893
028 G030200 0
028 G040200 28746
028 H000200 8285
029 000200 Y
030 A000200 83
030 B000200 4.00
030 C000200 0.00
031 A000200 52
031 B000200 0
032 000200 0
033 000200 31
034 000200 Y
035 000200 55
036 A000200 N
036 B000200 0
037 000200 N
038 000200 0
039 000200 Y
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 100
043 000200 597
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.500
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
<PAGE> PAGE 11
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
054 A000200 Y
054 B000200 Y
054 C000200 Y
054 D000200 N
054 E000200 N
054 F000200 N
054 G000200 Y
054 H000200 Y
054 I000200 N
054 J000200 Y
054 K000200 N
054 L000200 N
054 M000200 Y
054 N000200 N
054 O000200 N
055 A000200 N
055 B000200 N
056 000200 N
057 000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 1000
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 3.8
<PAGE> PAGE 12
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 8.2
062 N000200 3.7
062 O000200 0.0
062 P000200 83.2
062 Q000200 1.5
062 R000200 0.0
063 A000200 0
063 B000200 18.0
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 Y
070 E020200 Y
070 F010200 N
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 Y
070 O010200 Y
070 O020200 N
<PAGE> PAGE 13
070 P010200 Y
070 P020200 N
070 Q010200 Y
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 207311
071 B000200 203697
071 C000200 280302
071 D000200 73
072 A000200 6
072 B000200 11046
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 725
072 G000200 0
072 H000200 0
072 I000200 112
072 J000200 74
072 K000200 11
072 L000200 26
072 M000200 5
072 N000200 40
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 20
072 S000200 9
072 T000200 596
072 U000200 0
072 V000200 0
072 W000200 4
072 X000200 1622
072 Y000200 0
072 Z000200 9424
072AA000200 2942
072BB000200 0
072CC010200 284
072CC020200 0
072DD010200 7273
072DD020200 2198
072EE000200 0
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 20
074 B000200 11187
074 C000200 0
074 D000200 242039
<PAGE> PAGE 14
074 E000200 4360
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 39693
074 J000200 5020
074 K000200 0
074 L000200 6379
074 M000200 68
074 N000200 308766
074 O000200 9944
074 P000200 223
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 7708
074 S000200 0
074 T000200 290891
074 U010200 19955
074 U020200 6565
074 V010200 10.97
074 V020200 10.97
074 W000200 0.0000
074 X000200 15900
074 Y000200 0
075 A000200 0
075 B000200 290923
076 000200 0.00
028 A010300 13223
028 A020300 1901
028 A030300 0
028 A040300 11058
028 B010300 14610
028 B020300 1898
028 B030300 0
028 B040300 11643
028 C010300 15665
028 C020300 1868
028 C030300 0
028 C040300 9930
028 D010300 16411
028 D020300 2008
028 D030300 0
028 D040300 12505
028 E010300 12619
028 E020300 1893
028 E030300 0
028 E040300 36645
028 F010300 12564
028 F020300 1803
<PAGE> PAGE 15
028 F030300 0
028 F040300 12825
028 G010300 85092
028 G020300 11371
028 G030300 0
028 G040300 94606
028 H000300 19537
029 000300 Y
030 A000300 268
030 B000300 4.00
030 C000300 0.00
031 A000300 246
031 B000300 0
032 000300 0
033 000300 22
034 000300 Y
035 000300 313
036 A000300 N
036 B000300 0
037 000300 N
038 000300 0
039 000300 Y
040 000300 Y
041 000300 Y
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 100
043 000300 2000
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.500
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
<PAGE> PAGE 16
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
054 A000300 Y
054 B000300 Y
054 C000300 N
054 D000300 N
054 E000300 N
054 F000300 N
054 G000300 Y
054 H000300 Y
054 I000300 N
054 J000300 Y
054 K000300 N
054 L000300 N
054 M000300 Y
054 N000300 N
054 O000300 N
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 1000
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.2
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
<PAGE> PAGE 17
062 N000300 0.0
062 O000300 0.0
062 P000300 80.6
062 Q000300 2.9
062 R000300 14.2
063 A000300 0
063 B000300 9.5
064 A000300 N
064 B000300 Y
065 000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 N
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 Y
070 K010300 Y
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 Y
070 Q020300 N
070 R010300 Y
070 R020300 N
<PAGE> PAGE 18
071 A000300 564912
071 B000300 556450
071 C000300 626628
071 D000300 89
072 A000300 6
072 B000300 30787
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 1613
072 G000300 0
072 H000300 0
072 I000300 217
072 J000300 108
072 K000300 28
072 L000300 41
072 M000300 5
072 N000300 68
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 29
072 S000300 29
072 T000300 2000
072 U000300 0
072 V000300 0
072 W000300 36
072 X000300 4174
072 Y000300 0
072 Z000300 26613
072AA000300 0
072BB000300 9321
072CC010300 3461
072CC020300 0
072DD010300 11768
072DD020300 13578
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 1447
074 C000300 0
074 D000300 534746
074 E000300 54756
074 F000300 27842
074 G000300 0
074 H000300 0
074 I000300 8480
074 J000300 6108
<PAGE> PAGE 19
074 K000300 0
074 L000300 13124
074 M000300 41
074 N000300 646544
074 O000300 713
074 P000300 612
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 4575
074 S000300 0
074 T000300 640644
074 U010300 35793
074 U020300 46323
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 30524
074 Y000300 68724
075 A000300 0
075 B000300 647581
076 000300 0.00
028 A010400 31624
028 A020400 340
028 A030400 0
028 A040400 30912
028 B010400 18863
028 B020400 359
028 B030400 0
028 B040400 21153
028 C010400 19771
028 C020400 374
028 C030400 0
028 C040400 20730
028 D010400 25870
028 D020400 409
028 D030400 0
028 D040400 28939
028 E010400 3669
028 E020400 333
028 E030400 0
028 E040400 2945
028 F010400 19692
028 F020400 327
028 F030400 0
028 F040400 4270
028 G010400 119489
028 G020400 2142
028 G030400 0
028 G040400 108949
<PAGE> PAGE 20
028 H000400 25798
029 000400 Y
030 A000400 50
030 B000400 3.00
030 C000400 0.00
031 A000400 31
031 B000400 0
032 000400 0
033 000400 19
034 000400 Y
035 000400 9
036 A000400 N
036 B000400 0
037 000400 N
038 000400 0
039 000400 Y
040 000400 Y
041 000400 Y
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 100
043 000400 412
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.500
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
<PAGE> PAGE 21
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 N
054 A000400 Y
054 B000400 Y
054 C000400 N
054 D000400 N
054 E000400 N
054 F000400 N
054 G000400 Y
054 H000400 Y
054 I000400 N
054 J000400 Y
054 K000400 N
054 L000400 N
054 M000400 Y
054 N000400 N
054 O000400 N
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 100
062 A000400 Y
062 B000400 0.0
062 C000400 5.5
062 D000400 5.1
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 5.1
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 1.7
062 N000400 108.3
062 O000400 0.0
062 P000400 0.0
062 Q000400 5.6
062 R000400 0.0
063 A000400 0
<PAGE> PAGE 22
063 B000400 1.9
064 A000400 Y
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 N
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 Y
070 E020400 Y
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 Y
070 P010400 Y
070 P020400 N
070 Q010400 Y
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 294532
071 B000400 307893
071 C000400 187894
071 D000400 157
072 A000400 6
072 B000400 4494
072 C000400 0
<PAGE> PAGE 23
072 D000400 0
072 E000400 0
072 F000400 337
072 G000400 0
072 H000400 0
072 I000400 78
072 J000400 34
072 K000400 8
072 L000400 8
072 M000400 5
072 N000400 26
072 O000400 0
072 P000400 149
072 Q000400 0
072 R000400 20
072 S000400 15
072 T000400 412
072 U000400 20
072 V000400 0
072 W000400 4
072 X000400 1116
072 Y000400 0
072 Z000400 3378
072AA000400 642
072BB000400 0
072CC010400 114
072CC020400 0
072DD010400 1061
072DD020400 2316
072EE000400 0
073 A010400 0.0500
073 A020400 0.0500
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 7396
074 C000400 15484
074 D000400 168921
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 10273
074 K000400 0
074 L000400 1909
074 M000400 50
074 N000400 204033
074 O000400 56386
074 P000400 127
074 Q000400 0
<PAGE> PAGE 24
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 1432
074 S000400 0
074 T000400 146088
074 U010400 22425
074 U020400 38985
074 V010400 2.38
074 V020400 2.38
074 W000400 0.0000
074 X000400 11063
074 Y000400 119602
075 A000400 0
075 B000400 134997
076 000400 0.00
SIGNATURE PAUL SHUBERT
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUSTS
<SERIES>
<NUMBER> 3
<NAME> PAINEWEBBER HIGH INCOME FUND - CLASS A
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 263,083
<INVESTMENTS-AT-VALUE> 273,423
<RECEIVABLES> 8,383
<ASSETS-OTHER> 18
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 281,824
<PAYABLE-FOR-SECURITIES> 311
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,261
<TOTAL-LIABILITIES> 2,572
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 445,752
<SHARES-COMMON-STOCK> 35,793
<SHARES-COMMON-PRIOR> 35,676
<ACCUMULATED-NII-CURRENT> 755
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (192,890)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 25,635
<NET-ASSETS> 279,252
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13,660
<OTHER-INCOME> 0
<EXPENSES-NET> (1,321)
<NET-INVESTMENT-INCOME> 12,339
<REALIZED-GAINS-CURRENT> 4,182
<APPREC-INCREASE-CURRENT> 1,544
<NET-CHANGE-FROM-OPS> 18,065
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (11,768)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,237
<NUMBER-OF-SHARES-REDEEMED> (5,807)
<SHARES-REINVESTED> 687
<NET-CHANGE-IN-ASSETS> 6,966
<ACCUMULATED-NII-PRIOR> 185
<ACCUMULATED-GAINS-PRIOR> (197,031)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 716
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,321
<AVERAGE-NET-ASSETS> 286,967
<PER-SHARE-NAV-BEGIN> 7.63
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> 0.16
<PER-SHARE-DIVIDEND> (0.32)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.80
<EXPENSE-RATIO> 0.92
<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
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 3
<NAME> PAINEWEBBER HIGH INCOME FUND - CLASS B
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 221,464
<INVESTMENTS-AT-VALUE> 230,168
<RECEIVABLES> 7,057
<ASSETS-OTHER> 15
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 237,240
<PAYABLE-FOR-SECURITIES> 261
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,904
<TOTAL-LIABILITIES> 2,165
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 211,466
<SHARES-COMMON-STOCK> 30,154
<SHARES-COMMON-PRIOR> 31,026
<ACCUMULATED-NII-CURRENT> 571
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 20,800
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,238
<NET-ASSETS> 235,075
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11,332
<OTHER-INCOME> 0
<EXPENSES-NET> (1,990)
<NET-INVESTMENT-INCOME> 9,342
<REALIZED-GAINS-CURRENT> 3,382
<APPREC-INCREASE-CURRENT> 1,339
<NET-CHANGE-FROM-OPS> 14,063
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,885)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,541
<NUMBER-OF-SHARES-REDEEMED> (5,864)
<SHARES-REINVESTED> 451
<NET-CHANGE-IN-ASSETS> (1,633)
<ACCUMULATED-NII-PRIOR> 113
<ACCUMULATED-GAINS-PRIOR> 17,358
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 594
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,990
<AVERAGE-NET-ASSETS> 238,319
<PER-SHARE-NAV-BEGIN> 7.63
<PER-SHARE-NII> 0.30
<PER-SHARE-GAIN-APPREC> 0.16
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.80
<EXPENSE-RATIO> 1.67
<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
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 3
<NAME> PAINEWEBBER HIGH INCOME FUND - CLASS C
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 117,248
<INVESTMENTS-AT-VALUE> 121,856
<RECEIVABLES> 3,736
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 125,600
<PAYABLE-FOR-SECURITIES> 138
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,008
<TOTAL-LIABILITIES> 1,146
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 120,534
<SHARES-COMMON-STOCK> 15,930
<SHARES-COMMON-PRIOR> 15,143
<ACCUMULATED-NII-CURRENT> 255
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7,796
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (4,130)
<NET-ASSETS> 124,454
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,770
<OTHER-INCOME> 0
<EXPENSES-NET> (861)
<NET-INVESTMENT-INCOME> 4,909
<REALIZED-GAINS-CURRENT> 1,747
<APPREC-INCREASE-CURRENT> 599
<NET-CHANGE-FROM-OPS> 7,255
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,671)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,919
<NUMBER-OF-SHARES-REDEEMED> (2,454)
<SHARES-REINVESTED> 321
<NET-CHANGE-IN-ASSETS> 8,711
<ACCUMULATED-NII-PRIOR> 17
<ACCUMULATED-GAINS-PRIOR> 6,068
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 302
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 861
<AVERAGE-NET-ASSETS> 121,321
<PER-SHARE-NAV-BEGIN> 7.64
<PER-SHARE-NII> 0.31
<PER-SHARE-GAIN-APPREC> 0.16
<PER-SHARE-DIVIDEND> (0.30)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.81
<EXPENSE-RATIO> 1.42
<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
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 3
<NAME> PAINEWEBBER HIGH INCOME FUND - CLASS Y
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 1,755
<INVESTMENTS-AT-VALUE> 1,824
<RECEIVABLES> 56
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,880
<PAYABLE-FOR-SECURITIES> 2
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15
<TOTAL-LIABILITIES> 17
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,874
<SHARES-COMMON-STOCK> 239
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (21)
<NET-ASSETS> 1,863
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 25
<OTHER-INCOME> 0
<EXPENSES-NET> (2)
<NET-INVESTMENT-INCOME> 23
<REALIZED-GAINS-CURRENT> 9
<APPREC-INCREASE-CURRENT> (20)
<NET-CHANGE-FROM-OPS> 12
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (22)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 244
<NUMBER-OF-SHARES-REDEEMED> (7)
<SHARES-REINVESTED> 2
<NET-CHANGE-IN-ASSETS> 1,863
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2
<AVERAGE-NET-ASSETS> 974
<PER-SHARE-NAV-BEGIN> 7.79
<PER-SHARE-NII> 0.19
<PER-SHARE-GAIN-APPREC> (0.01)
<PER-SHARE-DIVIDEND> (0.18)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 7.79
<EXPENSE-RATIO> 0.64
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
^^^^^^
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
^^^^^^
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
^^^^^^
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
^^^^^^
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 1
<NAME> LOW DURATION U.S. GOVERMENT INCOME FUND CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 69546
<INVESTMENTS-AT-VALUE> 70080
<RECEIVABLES> 4451
<ASSETS-OTHER> 18
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 74549
<PAYABLE-FOR-SECURITIES> 20602
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 570
<TOTAL-LIABILITIES> 21172
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 95894
<SHARES-COMMON-STOCK> 22425
<SHARES-COMMON-PRIOR> 14210
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 107
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (42944)
<ACCUM-APPREC-OR-DEPREC> 534
<NET-ASSETS> 53377
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1642
<OTHER-INCOME> 0
<EXPENSES-NET> 290
<NET-INVESTMENT-INCOME> 1352
<REALIZED-GAINS-CURRENT> 235
<APPREC-INCREASE-CURRENT> 41
<NET-CHANGE-FROM-OPS> 1628
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1061
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46303
<NUMBER-OF-SHARES-REDEEMED> 38540
<SHARES-REINVESTED> 213
<NET-CHANGE-IN-ASSETS> 5084
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (29977)
<OVERDISTRIB-NII-PRIOR> (74)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 123
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 290
<AVERAGE-NET-ASSETS> 39164
<PER-SHARE-NAV-BEGIN> 2.37
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> 0.05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 2.38
<EXPENSE-RATIO> 1.22
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 2
<NAME> LOW DURATION U.S. GOVERNMENT INCOME FUND CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 9587
<INVESTMENTS-AT-VALUE> 9661
<RECEIVABLES> 614
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10277
<PAYABLE-FOR-SECURITIES> 2840
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 79
<TOTAL-LIABILITIES> 2919
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 13219
<SHARES-COMMON-STOCK> 3095
<SHARES-COMMON-PRIOR> 2938
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 15
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (5920)
<ACCUM-APPREC-OR-DEPREC> 74
<NET-ASSETS> 7358
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 226
<OTHER-INCOME> 0
<EXPENSES-NET> (84)
<NET-INVESTMENT-INCOME> 142
<REALIZED-GAINS-CURRENT> 32
<APPREC-INCREASE-CURRENT> 6
<NET-CHANGE-FROM-OPS> 181
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (168)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1052
<NUMBER-OF-SHARES-REDEEMED> 709
<SHARES-REINVESTED> 52
<NET-CHANGE-IN-ASSETS> 679
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (6191)
<OVERDISTRIB-NII-PRIOR> (15)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 17
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 84
<AVERAGE-NET-ASSETS> 7272
<PER-SHARE-NAV-BEGIN> 2.37
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> 0.06
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 2.38
<EXPENSE-RATIO> 2.03
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 3
<NAME> LOW DURATION U.S. GOVERNMENT INCOME FUND CLASS C
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 107876
<INVESTMENTS-AT-VALUE> 108704
<RECEIVABLES> 6904
<ASSETS-OTHER> 28
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115636
<PAYABLE-FOR-SECURITIES> 31957
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 884
<TOTAL-LIABILITIES> 32841
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 148746
<SHARES-COMMON-STOCK> 34817
<SHARES-COMMON-PRIOR> 38768
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 166
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (66613)
<ACCUM-APPREC-OR-DEPREC> 829
<NET-ASSETS> 82795
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2547
<OTHER-INCOME> 0
<EXPENSES-NET> 730
<NET-INVESTMENT-INCOME> 1817
<REALIZED-GAINS-CURRENT> 364
<APPREC-INCREASE-CURRENT> 64
<NET-CHANGE-FROM-OPS> 2245
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2120
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1788
<NUMBER-OF-SHARES-REDEEMED> 6367
<SHARES-REINVESTED> 627
<NET-CHANGE-IN-ASSETS> 7411
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (81695)
<OVERDISTRIB-NII-PRIOR> (203)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 191
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 730
<AVERAGE-NET-ASSETS> 87540
<PER-SHARE-NAV-BEGIN> 2.37
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> 0.05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 2.38
<EXPENSE-RATIO> 1.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 4
<NAME> LOW DURATION U.S. GOVERNMENT INCOME FUND CLASS Y
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 3330
<INVESTMENTS-AT-VALUE> 3356
<RECEIVABLES> 213
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3570
<PAYABLE-FOR-SECURITIES> 987
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 27
<TOTAL-LIABILITIES> 1014
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4592
<SHARES-COMMON-STOCK> 1074
<SHARES-COMMON-PRIOR> 149
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 5
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (2057)
<ACCUM-APPREC-OR-DEPREC> 26
<NET-ASSETS> 2556
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 79
<OTHER-INCOME> 0
<EXPENSES-NET> 12
<NET-INVESTMENT-INCOME> 67
<REALIZED-GAINS-CURRENT> 11
<APPREC-INCREASE-CURRENT> 2
<NET-CHANGE-FROM-OPS> 80
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1138
<NUMBER-OF-SHARES-REDEEMED> 222
<SHARES-REINVESTED> 9
<NET-CHANGE-IN-ASSETS> 266
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (313)
<OVERDISTRIB-NII-PRIOR> (1)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 6
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 12
<AVERAGE-NET-ASSETS> 1021
<PER-SHARE-NAV-BEGIN> 2.37
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> 0.05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 2.38
<EXPENSE-RATIO> 0.97
<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
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 1
<NAME> US GOVERNMENT INCOME CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 313245
<INVESTMENTS-AT-VALUE> 317239
<RECEIVABLES> 6339
<ASSETS-OTHER> 79
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 323657
<PAYABLE-FOR-SECURITIES> 40720
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2084
<TOTAL-LIABILITIES> 42804
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 352687
<SHARES-COMMON-STOCK> 31198
<SHARES-COMMON-PRIOR> 32593
<ACCUMULATED-NII-CURRENT> (757)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 75131
<ACCUM-APPREC-OR-DEPREC> 4053
<NET-ASSETS> 280853
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9894
<OTHER-INCOME> 0
<EXPENSES-NET> (1485)
<NET-INVESTMENT-INCOME> 8409
<REALIZED-GAINS-CURRENT> 4983
<APPREC-INCREASE-CURRENT> (2998)
<NET-CHANGE-FROM-OPS> 10393
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8307)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12702
<NUMBER-OF-SHARES-REDEEMED> (29799)
<SHARES-REINVESTED> 4551
<NET-CHANGE-IN-ASSETS> (10611)
<ACCUMULATED-NII-PRIOR> (734)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 77627
<GROSS-ADVISORY-FEES> 731
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1485
<AVERAGE-NET-ASSETS> 282162
<PER-SHARE-NAV-BEGIN> 8.94
<PER-SHARE-NII> .26
<PER-SHARE-GAIN-APPREC> .06
<PER-SHARE-DIVIDEND> (.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.00
<EXPENSE-RATIO> 1.02
<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
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 1
<NAME> US GOVERNMENT INCOME CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 30894
<INVESTMENTS-AT-VALUE> 31288
<RECEIVABLES> 625
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 31921
<PAYABLE-FOR-SECURITIES> 4016
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 206
<TOTAL-LIABILITIES> 4222
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 34784
<SHARES-COMMON-STOCK> 3076
<SHARES-COMMON-PRIOR> 4707
<ACCUMULATED-NII-CURRENT> (75)
<OVERDISTRIBUTION-NII>
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 7410
<ACCUM-APPREC-OR-DEPREC> 400
<NET-ASSETS> 27699
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 976
<OTHER-INCOME> 0
<EXPENSES-NET> (279)
<NET-INVESTMENT-INCOME> 697
<REALIZED-GAINS-CURRENT> 491
<APPREC-INCREASE-CURRENT> (296)
<NET-CHANGE-FROM-OPS> 893
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (833)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2871
<NUMBER-OF-SHARES-REDEEMED> (18031)
<SHARES-REINVESTED> 485
<NET-CHANGE-IN-ASSETS> (14498)
<ACCUMULATED-NII-PRIOR> (106)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 11212
<GROSS-ADVISORY-FEES> 72
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 279
<AVERAGE-NET-ASSETS> 27772
<PER-SHARE-NAV-BEGIN> 8.94
<PER-SHARE-NII> .22
<PER-SHARE-GAIN-APPREC> .06
<PER-SHARE-DIVIDEND> (.22)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.00
<EXPENSE-RATIO> 1.80
<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
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 1
<NAME> US GOVERNMENT INCOME CLASS C
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 28076
<INVESTMENTS-AT-VALUE> 28434
<RECEIVABLES> 568
<ASSETS-OTHER> 7
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 29009
<PAYABLE-FOR-SECURITIES> 3650
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 187
<TOTAL-LIABILITIES> 3837
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 31611
<SHARES-COMMON-STOCK> 2799
<SHARES-COMMON-PRIOR> 3149
<ACCUMULATED-NII-CURRENT> (68)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 6734
<ACCUM-APPREC-OR-DEPREC> 363
<NET-ASSETS> 25172
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 887
<OTHER-INCOME> 0
<EXPENSES-NET> (200)
<NET-INVESTMENT-INCOME> 687
<REALIZED-GAINS-CURRENT> 447
<APPREC-INCREASE-CURRENT> (269)
<NET-CHANGE-FROM-OPS> 864
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (696)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2882
<NUMBER-OF-SHARES-REDEEMED> (6473)
<SHARES-REINVESTED> 443
<NET-CHANGE-IN-ASSETS> (2925)
<ACCUMULATED-NII-PRIOR> (71)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 7492
<GROSS-ADVISORY-FEES> 66
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 200
<AVERAGE-NET-ASSETS> 25282
<PER-SHARE-NAV-BEGIN> 8.93
<PER-SHARE-NII> .23
<PER-SHARE-GAIN-APPREC> .06
<PER-SHARE-DIVIDEND> (.23)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.99
<EXPENSE-RATIO> 1.52
<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
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
<SERIES>
<NUMBER> 1
<NAME> US GOVERNMENT INCOME CLASS Y
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> NOV-30-1998
<PERIOD-START> DEC-01-1997
<PERIOD-END> MAY-31-1998
<INVESTMENTS-AT-COST> 11536
<INVESTMENTS-AT-VALUE> 11683
<RECEIVABLES> 233
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11919
<PAYABLE-FOR-SECURITIES> 1500
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 77
<TOTAL-LIABILITIES> 1577
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12989
<SHARES-COMMON-STOCK> 1150
<SHARES-COMMON-PRIOR> 763
<ACCUMULATED-NII-CURRENT> (28)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2767
<ACCUM-APPREC-OR-DEPREC> 149
<NET-ASSETS> 10342
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 364
<OTHER-INCOME> 0
<EXPENSES-NET> (41)
<NET-INVESTMENT-INCOME> 323
<REALIZED-GAINS-CURRENT> 184
<APPREC-INCREASE-CURRENT> (110)
<NET-CHANGE-FROM-OPS> 396
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (279)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12517
<NUMBER-OF-SHARES-REDEEMED> (9288)
<SHARES-REINVESTED> 260
<NET-CHANGE-IN-ASSETS> 3587
<ACCUMULATED-NII-PRIOR> (17)
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR>
<OVERDIST-NET-GAINS-PRIOR> 1815
<GROSS-ADVISORY-FEES> 27
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 41
<AVERAGE-NET-ASSETS> 9985
<PER-SHARE-NAV-BEGIN> 8.93
<PER-SHARE-NII> .27
<PER-SHARE-GAIN-APPREC> .06
<PER-SHARE-DIVIDEND> (.27)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.99
<EXPENSE-RATIO> .71
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
