PAINEWEBBER MANAGED INVESTMENTS TRUST
NSAR-B, EX-27, 2000-10-30
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<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000746703
<NAME> PAINEWEBBER MANAGED EQUITY TRUST
<SERIES>
   <NUMBER> 1
   <NAME> TAX MANAGED EQUITY FUND CLASS B
<MULTIPLIER> 1000

<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-2000
<PERIOD-START>                             SEP-01-1999
<PERIOD-END>                               AUG-31-2000
<INVESTMENTS-AT-COST>                           18,091
<INVESTMENTS-AT-VALUE>                          22,477
<RECEIVABLES>                                       95
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                               788
<TOTAL-ASSETS>                                  23,360
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          898
<TOTAL-LIABILITIES>                                898
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        19,089
<SHARES-COMMON-STOCK>                            1,532
<SHARES-COMMON-PRIOR>                            1,730
<ACCUMULATED-NII-CURRENT>                         (40)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (973)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         4,386
<NET-ASSETS>                                    22,462
<DIVIDEND-INCOME>                                  290
<INTEREST-INCOME>                                  154
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     554
<NET-INVESTMENT-INCOME>                          (110)
<REALIZED-GAINS-CURRENT>                         (947)
<APPREC-INCREASE-CURRENT>                        2,256
<NET-CHANGE-FROM-OPS>                            1,199
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             6
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            320
<NUMBER-OF-SHARES-REDEEMED>                        512
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         (1,460)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                         (16)
<OVERDISTRIB-NII-PRIOR>                             10
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              187
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    562
<AVERAGE-NET-ASSETS>                            22,388
<PER-SHARE-NAV-BEGIN>                            13.86
<PER-SHARE-NII>                                 (0.07)
<PER-SHARE-GAIN-APPREC>                           0.88
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.67
<EXPENSE-RATIO>                                   2.29



</TABLE>


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