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<PAGE> PAGE 2
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<PAGE> PAGE 3
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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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<PAGE> PAGE 22
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070 C020400 Y
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070 F020400 N
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070 G020400 Y
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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SIGNATURE PAUL SHUBERT
TITLE TREASURER
For Period ending May 31, 1999____ Attachment 77D
File number 811-4040_________
PaineWebber Investment Grade Income Fund,
a series of PaineWebber Managed Investments Trust
At the joint meeting of the boards of trustees held on May 13, 1999, the
board approved an amendment to the Fund's investment policy to include
short-term money market instruments in the Fund's 65% basket for
investment grade debt.
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<PER-SHARE-NAV-END> 10.28
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> PAINEWEBBER MANAGED INVESTMENT TRUST
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<NAME> PAINEWEBBER INVESTMENT GRADE INCOME FUND CLASS Y
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[AVG-DEBT-OUTSTANDING] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
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<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
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<NAME> LOW DURATION U.S. GOVERNMENT INCOME FUND CLASS A
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
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<NAME> LOW DURATION U.S. GOVERNMENT INCOME FUND CLASS B
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<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
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<NAME> LOW DURATION U.S. GOVERNMENT INCOME FUND CLASS C
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[AVG-DEBT-OUTSTANDING] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
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<NAME> LOW DURATION U.S. GOVERNMENT INCOME FUND CLASS Y
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[AVG-DEBT-OUTSTANDING] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
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<NAME> US GOVERNMENT INCOME CLASS A
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
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<NAME> US GOVERNMENT INCOME CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED INVESTMENTS TRUST
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<SHARES-COMMON-STOCK> 1,343
<SHARES-COMMON-PRIOR> 1,257
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (14)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (3,390)
<ACCUM-APPREC-OR-DEPREC> (226)
<NET-ASSETS> 11,799
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 409
<OTHER-INCOME> 0
<EXPENSES-NET> (49)
<NET-INVESTMENT-INCOME> 360
<REALIZED-GAINS-CURRENT> (130)
<APPREC-INCREASE-CURRENT> (428)
<NET-CHANGE-FROM-OPS> (198)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (341)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,332
<NUMBER-OF-SHARES-REDEEMED> (1,282)
<SHARES-REINVESTED> 37
<NET-CHANGE-IN-ASSETS> 235
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (12)
<OVERDIST-NET-GAINS-PRIOR> (2,904)
<GROSS-ADVISORY-FEES> 31
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 49
<AVERAGE-NET-ASSETS> 11,626
<PER-SHARE-NAV-BEGIN> 9.19
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> (0.41)
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 8.78
<EXPENSE-RATIO> 0.71
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
