ZWEIG SERIES TRUST
NSAR-B, 1997-02-24
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<PAGE>      PAGE  1
000 B000000 12/31/96
000 C000000 0000754363
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 ZWEIG SERIES TRUST
001 B000000 811-8114
001 C000000 2126359800
002 A000000 5 HANOVER SQUARE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10004
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  6
007 C010100  1
007 C020100 ZWEIG SERIES TRUST ZWEIG STRATEGY FUND
007 C030100 N
007 C010200  2
007 C020200 ZWEIG SERIES TRUST ZWEIG APPRECIATION FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C020400 ZWEIG SERIES TRUST ZWEIG GOVERNMENT FUND
007 C030400 N
007 C010500  5
007 C020500 ZWEIG SERIES TRUST ZWEIG CASH FUND
007 C030500 N
007 C010600  6
007 C020600 ZWEIG SERIES TRUST ZWEIG MANAGED ASSETS
007 C030600 N
007 C010700  7
007 C020700 ZWEIG SERIES TRUST ZWEIG GROWTH & INCOME FUND
007 C030700 N
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 ZWEIG/GLASER ADVISERS
008 B00AA01 A
008 C00AA01 801-35094
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10004
008 A00AA04 ZWEIG/GLASER ADVISERS
<PAGE>      PAGE  2
008 B00AA04 A
008 C00AA04 801-35094
008 D01AA04 NEW YORK
008 D02AA04 NY
008 D03AA04 10004
011 A00AA01 ZWEIG SECURITIES CORP.
011 B00AA01 8-40035
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10004
012 A00AA01 STATE STREET BANK AND TRUST COMPANY
012 B00AA01 85-5003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02110
013 A00AA01 COOPERS & LYBRAND L.L.P.
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 ZWEIG SECURITIES CORP.
014 B00AA01 8-0059
015 A00AA01 THE BANK OF NEW YORK
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10015
015 E01AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    6
019 C00AA00 ZWEIGTRUST
020 A000001 MORGAN STANLEY & CO., INC.
020 B000001 13-2655998
020 C000001   3404
020 A000002 INSTINET CORP.
020 B000002 13-3443395
020 C000002    820
020 A000003 ZWEIG SECURITIES CORP.
020 B000003 13-3472421
020 C000003    634
020 A000004 SMITH BARNEY, INC.
020 B000004 13-1912900
020 C000004    536
020 A000005 C.S.FIRST BOSTON CORP.
020 B000005 13-5659485
020 C000005    401
020 A000006 ROCHDALE SECURITIES CORP.
020 B000006 13-3360814
020 C000006    228
020 A000007 BEAR STEARNS & CO., INC.
020 B000007 13-3299429
<PAGE>      PAGE  3
020 C000007    159
020 A000008 MERRILL LYNCH,PIERCE,FENNER & SMITH,INC.
020 B000008 13-5674085
020 C000008    126
020 A000009 GOLDMAN SACHS & CO.
020 B000009 13-5108880
020 C000009     76
020 A000010 MORGAN (J.P.) SECURITIES, INC.
020 B000010 13-3224016
020 C000010     69
021  000000     6809
022 A000001 PRUDENTIAL SECURITIES, INC.
022 B000001 22-2347336
022 C000001  25081123
022 D000001     16982
022 A000002 MORGAN STANLEY & CO., INC.
022 B000002 13-2655998
022 C000002  24785588
022 D000002     38060
022 A000003 MERRILL LYNCH,PIERCE,FENNER & SMITH, INC.
022 B000003 13-5674085
022 C000003    216739
022 D000003         0
022 A000004 CS FIRST BOSTON CORPORATION
022 B000004 13-5659485
022 C000004     95093
022 D000004     89214
022 A000005 DEUTSCHE MORGAN GRENFEL/C.J. LAWRENCE INC.
022 B000005 13-2730828
022 C000005     47371
022 D000005     55222
022 A000006 ARBOR TRADING GROUP, INC.
022 B000006 36-3540782
022 C000006     46669
022 D000006     23296
022 A000007 DAIWA SECURITIES AMERICA, INC.
022 B000007 13-5680329
022 C000007     11410
022 D000007     22481
022 A000008 GREENWICH CAPITAL MARKETS, INC.
022 B000008 13-3172275
022 C000008      6920
022 D000008     22527
022 A000009 MORGAN (J.P.) SECURITIES, INC.
022 B000009 13-3224016
022 C000009      2492
022 D000009     24824
022 A000010 CHEMICAL BANKING CORP.
022 B000010 13-5227302
022 C000010     19863
022 D000010         0
<PAGE>      PAGE  4
023 C000000   50341377
023 D000000     315132
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
026 A000000 N
026 B000000 N
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026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027  000000 Y
037  00AA00 N
038  00AA00      0
039  00AA00 N
040  00AA00 Y
041  00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056  00AA00 N
057  00AA00 N
077 A000000 Y
077 B000000 Y
078  000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00     1900
081 A00AA00 Y
<PAGE>      PAGE  5
081 B00AA00   6
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083 A00AA00 N
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<PAGE>      PAGE  6
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042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100   7992
044  000100      0
045  000100 Y
046  000100 N
047  000100 Y
048  000100  0.750
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048 D010100        0
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048 E010100        0
048 E020100 0.000
048 F010100        0
048 F020100 0.000
048 G010100        0
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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
<PAGE>      PAGE  7
053 A000100 N
058 A000100 N
059  000100 Y
060 A000100 Y
060 B000100 Y
061  000100     1000
062 A000100 N
062 B000100   0.0
062 C000100   0.0
062 D000100   0.0
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   0.0
062 N000100   0.0
062 O000100   0.0
062 P000100   0.0
062 Q000100   0.0
062 R000100   0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 Y
066 E000100 N
066 F000100 N
066 G000100 N
067  000100 N
068 A000100 N
068 B000100 N
069  000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 Y
070 F020100 Y
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
<PAGE>      PAGE  8
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 Y
070 R020100 Y
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072 J000100      154
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072 N000100      105
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072 R000100       63
072 S000100      177
072 T000100     7992
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072 X000100    19916
072 Y000100        0
072 Z000100    11919
072AA000100   253635
<PAGE>      PAGE  9
072BB000100   172776
072CC010100    48334
072CC020100        0
072DD010100     7570
072DD020100     4496
072EE000100    91354
073 A010100   0.1940
073 A020100   0.2040
073 B000100   1.1820
073 C000100   0.0000
074 A000100      233
074 B000100    84915
074 C000100    35874
074 D000100        0
074 E000100        0
074 F000100  1060071
074 G000100        0
074 H000100        0
074 I000100        0
074 J000100    59492
074 K000100        0
074 L000100     8482
074 M000100        0
074 N000100  1249067
074 O000100        0
074 P000100      758
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100     2606
074 S000100        0
074 T000100  1245703
074 U010100    38727
074 U020100    41325
074 V010100    15.01
074 V020100    15.04
074 W000100   0.0000
074 X000100    75698
074 Y000100    15918
075 A000100        0
075 B000100  1217290
076  000100     0.00
028 A010200      3932
028 A020200         0
028 A030200         0
028 A040200      6862
028 B010200      4062
028 B020200         0
028 B030200         0
028 B040200      7041
<PAGE>      PAGE  10
028 C010200      4402
028 C020200         0
028 C030200         0
028 C040200      8355
028 D010200      3122
028 D020200         0
028 D030200         0
028 D040200     10226
028 E010200      8140
028 E020200         0
028 E030200         0
028 E040200     12102
028 F010200      6543
028 F020200     60141
028 F030200         0
028 F040200      9960
028 G010200     30201
028 G020200     60141
028 G030200         0
028 G040200     54546
028 H000200     10995
029  000200 Y
030 A000200     44
030 B000200  5.50
030 C000200  0.00
031 A000200     23
031 B000200      0
032  000200     21
033  000200      0
034  000200 Y
035  000200     36
036 A000200 N
036 B000200      0
042 A000200   0
042 B000200   0
042 C000200 100
042 D000200   0
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200   2959
044  000200      0
045  000200 Y
046  000200 N
047  000200 Y
048  000200  1.000
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
058 A000200 N
059  000200 Y
060 A000200 Y
060 B000200 Y
061  000200     1000
062 A000200 N
062 B000200   0.0
062 C000200   0.0
062 D000200   0.0
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   0.0
062 N000200   0.0
062 O000200   0.0
062 P000200   0.0
062 Q000200   0.0
062 R000200   0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 Y
066 E000200 N
<PAGE>      PAGE  12
066 F000200 N
066 G000200 N
067  000200 N
068 A000200 N
068 B000200 N
069  000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 Y
070 F020200 Y
070 G010200 N
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200    362061
071 B000200    414406
071 C000200    413397
071 D000200   88
072 A000200 12
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<PAGE>      PAGE  13
072 F000200     4876
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072 I000200      679
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072 M000200       14
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072 X000200     9408
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072 Z000200     3596
072AA000200    95934
072BB000200    36836
072CC010200     5819
072CC020200        0
072DD010200     2921
072DD020200      796
072EE000200    63707
073 A010200   0.1700
073 A020200   0.1260
073 B000200   2.2650
073 C000200   0.0000
074 A000200      133
074 B000200    71071
074 C000200     4979
074 D000200        0
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074 F000200   427164
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<PAGE>      PAGE  14
074 R030200        0
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074 Y000200     4979
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076  000200     0.00
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028 D030400         0
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029  000400 Y
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<PAGE>      PAGE  15
034  000400 Y
035  000400      2
036 A000400 N
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042 A000400   0
042 B000400   0
042 C000400 100
042 D000400   0
042 E000400   0
042 F000400   0
042 G000400   0
042 H000400   0
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045  000400 Y
046  000400 N
047  000400 Y
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048 B010400        0
048 B020400 0.000
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048 E010400        0
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048 G010400        0
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048 I010400        0
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049  000400 N
050  000400 N
051  000400 N
052  000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
058 A000400 N
059  000400 Y
060 A000400 Y
060 B000400 Y
<PAGE>      PAGE  16
061  000400     1000
062 A000400 Y
062 B000400   0.0
062 C000400  12.3
062 D000400  16.3
062 E000400   0.0
062 F000400   0.0
062 G000400   0.0
062 H000400   0.0
062 I000400   0.0
062 J000400   0.0
062 K000400   0.0
062 L000400   0.0
062 M000400  62.9
062 N000400   7.6
062 O000400   0.0
062 P000400   0.0
062 Q000400   0.0
062 R000400   0.0
063 A000400   0
063 B000400  4.1
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
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070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 N
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 N
<PAGE>      PAGE  17
070 L020400 N
070 M010400 N
070 M020400 N
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070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
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<PAGE>      PAGE  18
073 A020400   0.7750
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<PAGE>      PAGE  19
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<PAGE>      PAGE  20
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050  000500 N
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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<PAGE>      PAGE  23
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<PAGE>      PAGE  24
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
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<PAGE>      PAGE  28
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<PAGE>      PAGE  29
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<PAGE>      PAGE  31
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<PAGE>      PAGE  32
076  000700     0.00
SIGNATURE   ALFRED J. RATCLIFFE                          
TITLE       FIRST VICE PRESIDENT
 


<TABLE> <S> <C>

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<NAME> ZWEIG STRATEGY FUND
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</TABLE>

<TABLE> <S> <C>

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</TABLE>

<TABLE> <S> <C>

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<TOTAL-LIABILITIES>                              3,364
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     1,073,247
<SHARES-COMMON-STOCK>                           41,325
<SHARES-COMMON-PRIOR>                           36,430
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                             172
<ACCUMULATED-NET-GAINS>                         29,940
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       142,688
<NET-ASSETS>                                 1,245,703
<DIVIDEND-INCOME>                               27,406
<INTEREST-INCOME>                                4,429
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  19,916
<NET-INVESTMENT-INCOME>                         11,919
<REALIZED-GAINS-CURRENT>                        80,859
<APPREC-INCREASE-CURRENT>                       48,334
<NET-CHANGE-FROM-OPS>                          141,112
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        4,367
<DISTRIBUTIONS-OF-GAINS>                        45,605
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         11,002
<NUMBER-OF-SHARES-REDEEMED>                      9,152
<SHARES-REINVESTED>                              3,045
<NET-CHANGE-IN-ASSETS>                         157,117
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                       40,435
<OVERDISTRIB-NII-PRIOR>                             25
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            9,070
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 19,916
<AVERAGE-NET-ASSETS>                           606,085
<PER-SHARE-NAV-BEGIN>                            14.56
<PER-SHARE-NII>                                    .11
<PER-SHARE-GAIN-APPREC>                           1.66
<PER-SHARE-DIVIDEND>                               .11
<PER-SHARE-DISTRIBUTIONS>                         1.18
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.04
<EXPENSE-RATIO>                                   1.98
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG STRATEGY FUND
<SERIES>
   <NUMBER> 014
   <NAME> ZSFI1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                        1,034,497
<INVESTMENTS-AT-VALUE>                       1,177,185
<RECEIVABLES>                                   71,649
<ASSETS-OTHER>                                     233
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               1,249,067
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        3,364
<TOTAL-LIABILITIES>                              3,364
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     1,073,247
<SHARES-COMMON-STOCK>                               60
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                             172
<ACCUMULATED-NET-GAINS>                         29,940
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       142,688
<NET-ASSETS>                                 1,245,703
<DIVIDEND-INCOME>                               27,406
<INTEREST-INCOME>                                4,429
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  19,916
<NET-INVESTMENT-INCOME>                         11,919
<REALIZED-GAINS-CURRENT>                        80,859
<APPREC-INCREASE-CURRENT>                       48,334
<NET-CHANGE-FROM-OPS>                          141,112
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            3
<DISTRIBUTIONS-OF-GAINS>                            65
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             55
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  5
<NET-CHANGE-IN-ASSETS>                         157,117
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                       40,435
<OVERDISTRIB-NII-PRIOR>                             25
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            9,070
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 19,916
<AVERAGE-NET-ASSETS>                               887
<PER-SHARE-NAV-BEGIN>                            15.42
<PER-SHARE-NII>                                    .04
<PER-SHARE-GAIN-APPREC>                            .83
<PER-SHARE-DIVIDEND>                               .04
<PER-SHARE-DISTRIBUTIONS>                         1.18
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.07
<EXPENSE-RATIO>                                    .98
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG APPRECIATION FUND
<SERIES>
   <NUMBER> 021
   <NAME> ZAFA1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                          407,605
<INVESTMENTS-AT-VALUE>                         502,679
<RECEIVABLES>                                    3,693
<ASSETS-OTHER>                                     133
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 506,505
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,304
<TOTAL-LIABILITIES>                              1,304
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       406,483
<SHARES-COMMON-STOCK>                           17,354
<SHARES-COMMON-PRIOR>                           17,131
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                             335
<ACCUMULATED-NET-GAINS>                          3,979
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        95,074
<NET-ASSETS>                                   505,201
<DIVIDEND-INCOME>                                8,936
<INTEREST-INCOME>                                4,068
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   9,408
<NET-INVESTMENT-INCOME>                          3,596
<REALIZED-GAINS-CURRENT>                        59,098
<APPREC-INCREASE-CURRENT>                        5,819
<NET-CHANGE-FROM-OPS>                           68,513
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        2,921
<DISTRIBUTIONS-OF-GAINS>                        34,739
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,367
<NUMBER-OF-SHARES-REDEEMED>                      3,224
<SHARES-REINVESTED>                              2,080
<NET-CHANGE-IN-ASSETS>                          37,407
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        8,588
<OVERDISTRIB-NII-PRIOR>                            214
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            4,876
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  9,408
<AVERAGE-NET-ASSETS>                           273,394
<PER-SHARE-NAV-BEGIN>                            15.91
<PER-SHARE-NII>                                    .17
<PER-SHARE-GAIN-APPREC>                           2.25
<PER-SHARE-DIVIDEND>                               .17
<PER-SHARE-DISTRIBUTIONS>                         2.26
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.90
<EXPENSE-RATIO>                                   1.62
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG APPRECIATION FUND
<SERIES>
   <NUMBER> 022
   <NAME> ZAFB1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                          407,605
<INVESTMENTS-AT-VALUE>                         502,679
<RECEIVABLES>                                    3,693
<ASSETS-OTHER>                                     133
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 506,505
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,304
<TOTAL-LIABILITIES>                              1,304
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       406,483
<SHARES-COMMON-STOCK>                              528
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                             335
<ACCUMULATED-NET-GAINS>                          3,979
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        95,074
<NET-ASSETS>                                   505,201
<DIVIDEND-INCOME>                                8,936
<INTEREST-INCOME>                                4,068
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   9,408
<NET-INVESTMENT-INCOME>                          3,596
<REALIZED-GAINS-CURRENT>                        59,098
<APPREC-INCREASE-CURRENT>                        5,819
<NET-CHANGE-FROM-OPS>                           68,513
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           16
<DISTRIBUTIONS-OF-GAINS>                           984
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            479
<NUMBER-OF-SHARES-REDEEMED>                         12
<SHARES-REINVESTED>                                 60
<NET-CHANGE-IN-ASSETS>                          37,407
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        8,588
<OVERDISTRIB-NII-PRIOR>                            214
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            4,876
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  9,408
<AVERAGE-NET-ASSETS>                             4,541
<PER-SHARE-NAV-BEGIN>                            16.34
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                           1.74
<PER-SHARE-DIVIDEND>                               .03
<PER-SHARE-DISTRIBUTIONS>                         2.26
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.82
<EXPENSE-RATIO>                                   2.32
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG APPRECIATION FUND
<SERIES>
   <NUMBER> 023
   <NAME> ZAFC1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                          407,605
<INVESTMENTS-AT-VALUE>                         502,679
<RECEIVABLES>                                    3,693
<ASSETS-OTHER>                                     133
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 506,505
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,304
<TOTAL-LIABILITIES>                              1,304
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       406,483
<SHARES-COMMON-STOCK>                           13,849
<SHARES-COMMON-PRIOR>                           12,330
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                             335
<ACCUMULATED-NET-GAINS>                          3,979
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        95,074
<NET-ASSETS>                                   505,201
<DIVIDEND-INCOME>                                8,936
<INTEREST-INCOME>                                4,068
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   9,408
<NET-INVESTMENT-INCOME>                          3,596
<REALIZED-GAINS-CURRENT>                        59,098
<APPREC-INCREASE-CURRENT>                        5,819
<NET-CHANGE-FROM-OPS>                           68,513
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          775
<DISTRIBUTIONS-OF-GAINS>                        27,713
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          2,349
<NUMBER-OF-SHARES-REDEEMED>                      2,476
<SHARES-REINVESTED>                              1,645
<NET-CHANGE-IN-ASSETS>                          37,407
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        8,588
<OVERDISTRIB-NII-PRIOR>                            214
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            4,876
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  9,408
<AVERAGE-NET-ASSETS>                           210,677
<PER-SHARE-NAV-BEGIN>                            15.83
<PER-SHARE-NII>                                    .06
<PER-SHARE-GAIN-APPREC>                           2.22
<PER-SHARE-DIVIDEND>                               .06
<PER-SHARE-DISTRIBUTIONS>                         2.26
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.79
<EXPENSE-RATIO>                                   2.32
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG APPRECIATION FUND
<SERIES>
   <NUMBER> 024
   <NAME> ZAFI1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                          407,605
<INVESTMENTS-AT-VALUE>                         502,679
<RECEIVABLES>                                    3,693
<ASSETS-OTHER>                                     133
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 506,505
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,304
<TOTAL-LIABILITIES>                              1,304
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       406,483
<SHARES-COMMON-STOCK>                              137
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                             335
<ACCUMULATED-NET-GAINS>                          3,979
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        95,074
<NET-ASSETS>                                   505,201
<DIVIDEND-INCOME>                                8,936
<INTEREST-INCOME>                                4,068
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   9,408
<NET-INVESTMENT-INCOME>                          3,596
<REALIZED-GAINS-CURRENT>                        59,098
<APPREC-INCREASE-CURRENT>                        5,819
<NET-CHANGE-FROM-OPS>                           68,513
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            5
<DISTRIBUTIONS-OF-GAINS>                           271
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            120
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                 17
<NET-CHANGE-IN-ASSETS>                          37,407
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        8,588
<OVERDISTRIB-NII-PRIOR>                            214
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            4,876
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  9,408
<AVERAGE-NET-ASSETS>                             2,142
<PER-SHARE-NAV-BEGIN>                            17.28
<PER-SHARE-NII>                                    .04
<PER-SHARE-GAIN-APPREC>                           1.02
<PER-SHARE-DIVIDEND>                               .04
<PER-SHARE-DISTRIBUTIONS>                         2.26
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.04
<EXPENSE-RATIO>                                   1.32
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG GOVERNMENT FUND
<SERIES>
   <NUMBER> 041
   <NAME> ZGFA1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           48,025
<INVESTMENTS-AT-VALUE>                          48,209
<RECEIVABLES>                                      726
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  48,945
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          253
<TOTAL-LIABILITIES>                                253
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        69,930
<SHARES-COMMON-STOCK>                            3,449
<SHARES-COMMON-PRIOR>                            4,063
<ACCUMULATED-NII-CURRENT>                           30
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (21,452)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           184
<NET-ASSETS>                                    48,692
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,445
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     687
<NET-INVESTMENT-INCOME>                          2,758
<REALIZED-GAINS-CURRENT>                        (1,290)
<APPREC-INCREASE-CURRENT>                       (2,075)
<NET-CHANGE-FROM-OPS>                             (607)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        1,935
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             72
<NUMBER-OF-SHARES-REDEEMED>                        800
<SHARES-REINVESTED>                                113
<NET-CHANGE-IN-ASSETS>                         (13,294)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (50,718)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              322
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    804
<AVERAGE-NET-ASSETS>                            36,846
<PER-SHARE-NAV-BEGIN>                            10.39
<PER-SHARE-NII>                                    .53
<PER-SHARE-GAIN-APPREC>                           (.58)
<PER-SHARE-DIVIDEND>                               .53
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.81
<EXPENSE-RATIO>                                   1.14
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG GOVERNMENT FUND
<SERIES>
   <NUMBER> 042
   <NAME> ZGFB1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           48,025
<INVESTMENTS-AT-VALUE>                          48,209
<RECEIVABLES>                                      726
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  48,945
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          253
<TOTAL-LIABILITIES>                                253
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        69,930
<SHARES-COMMON-STOCK>                               52
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                           30
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (21,452)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           184
<NET-ASSETS>                                    48,692
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,445
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     687
<NET-INVESTMENT-INCOME>                          2,758
<REALIZED-GAINS-CURRENT>                        (1,290)
<APPREC-INCREASE-CURRENT>                       (2,075)
<NET-CHANGE-FROM-OPS>                             (607)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            9
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             61
<NUMBER-OF-SHARES-REDEEMED>                          9
<SHARES-REINVESTED>                                  1
<NET-CHANGE-IN-ASSETS>                         (13,294)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (50,718)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              322
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    804
<AVERAGE-NET-ASSETS>                               246
<PER-SHARE-NAV-BEGIN>                             9.76
<PER-SHARE-NII>                                    .29
<PER-SHARE-GAIN-APPREC>                            .11
<PER-SHARE-DIVIDEND>                               .30
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.86
<EXPENSE-RATIO>                                   1.84
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG GOVERNMENT FUND
<SERIES>
   <NUMBER> 043
   <NAME> ZGFC1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           48,025
<INVESTMENTS-AT-VALUE>                          48,209
<RECEIVABLES>                                      726
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  48,945
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          253
<TOTAL-LIABILITIES>                                253
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        69,930
<SHARES-COMMON-STOCK>                            1,460
<SHARES-COMMON-PRIOR>                            1,905
<ACCUMULATED-NII-CURRENT>                           30
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        (21,452)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           184
<NET-ASSETS>                                    48,692
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,445
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     687
<NET-INVESTMENT-INCOME>                          2,758
<REALIZED-GAINS-CURRENT>                        (1,290)
<APPREC-INCREASE-CURRENT>                       (2,075)
<NET-CHANGE-FROM-OPS>                             (607)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          784
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            212
<NUMBER-OF-SHARES-REDEEMED>                        706
<SHARES-REINVESTED>                                 50
<NET-CHANGE-IN-ASSETS>                         (13,294)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                      (50,718)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              322
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    804
<AVERAGE-NET-ASSETS>                            16,605
<PER-SHARE-NAV-BEGIN>                            10.38
<PER-SHARE-NII>                                    .49
<PER-SHARE-GAIN-APPREC>                           (.58)
<PER-SHARE-DIVIDEND>                               .48
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               9.81
<EXPENSE-RATIO>                                   1.59
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG CASH FUND
<SERIES>
   <NUMBER> 051
   <NAME> ZCFA1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           54,791
<INVESTMENTS-AT-VALUE>                          54,791
<RECEIVABLES>                                      101
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  54,902
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          302
<TOTAL-LIABILITIES>                                302
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        54,600
<SHARES-COMMON-STOCK>                            3,360
<SHARES-COMMON-PRIOR>                            3,661
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    54,600
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,499
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     280
<NET-INVESTMENT-INCOME>                          3,219
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            3,219
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          169
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          3,251
<NUMBER-OF-SHARES-REDEEMED>                      3,691
<SHARES-REINVESTED>                                140
<NET-CHANGE-IN-ASSETS>                          (2,034)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              325
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    527
<AVERAGE-NET-ASSETS>                             3,579
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .05
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .05
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .65
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG CASH FUND
<SERIES>
   <NUMBER> 052
   <NAME> ZCFB1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           54,791
<INVESTMENTS-AT-VALUE>                          54,791
<RECEIVABLES>                                      101
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  54,902
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          302
<TOTAL-LIABILITIES>                                302
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        54,600
<SHARES-COMMON-STOCK>                               33
<SHARES-COMMON-PRIOR>                                0 
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    54,600
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,499
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     280
<NET-INVESTMENT-INCOME>                          3,219
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            3,219
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            1
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            268
<NUMBER-OF-SHARES-REDEEMED>                        236
<SHARES-REINVESTED>                                  1
<NET-CHANGE-IN-ASSETS>                          (2,034)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              325
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    527
<AVERAGE-NET-ASSETS>                                48
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .03
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   1.35
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG CASH FUND
<SERIES>
   <NUMBER> 053
   <NAME> ZCFC1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           54,791
<INVESTMENTS-AT-VALUE>                          54,791
<RECEIVABLES>                                      101
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  54,902
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          302
<TOTAL-LIABILITIES>                                302
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        54,600
<SHARES-COMMON-STOCK>                            4,535
<SHARES-COMMON-PRIOR>                            4,458
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    54,600
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,499
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     280
<NET-INVESTMENT-INCOME>                          3,219
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            3,219
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          188
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          6,804
<NUMBER-OF-SHARES-REDEEMED>                      6,884
<SHARES-REINVESTED>                                157
<NET-CHANGE-IN-ASSETS>                          (2,034)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              325
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    527
<AVERAGE-NET-ASSETS>                             3,956
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .05
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .05
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .65
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG CASH FUND
<SERIES>
   <NUMBER> 054
   <NAME> ZCFI1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           54,791
<INVESTMENTS-AT-VALUE>                          54,791
<RECEIVABLES>                                      101
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  54,902
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          302
<TOTAL-LIABILITIES>                                302
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        54,600
<SHARES-COMMON-STOCK>                            1,401
<SHARES-COMMON-PRIOR>                                0 
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    54,600
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,499
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     280
<NET-INVESTMENT-INCOME>                          3,219
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            3,219
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            8
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           1,498
<NUMBER-OF-SHARES-REDEEMED>                        100
<SHARES-REINVESTED>                                  3
<NET-CHANGE-IN-ASSETS>                          (2,034)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              325
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    527
<AVERAGE-NET-ASSETS>                               955
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .01
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .35
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG CASH FUND
<SERIES>
   <NUMBER> 055
   <NAME> ZCFM1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                           54,791
<INVESTMENTS-AT-VALUE>                          54,791
<RECEIVABLES>                                      101
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  54,902
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          302
<TOTAL-LIABILITIES>                                302
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        54,600
<SHARES-COMMON-STOCK>                           45,271
<SHARES-COMMON-PRIOR>                           48,515
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    54,600
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                3,499
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     280
<NET-INVESTMENT-INCOME>                          3,219
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                            3,219
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        2,853
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        302,464
<NUMBER-OF-SHARES-REDEEMED>                    307,369
<SHARES-REINVESTED>                              1,662
<NET-CHANGE-IN-ASSETS>                          (2,034)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              325
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    527
<AVERAGE-NET-ASSETS>                            57,325
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .05
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                               .05
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG MANAGED ASSETS FUND
<SERIES>
   <NUMBER> 061
   <NAME> ZMAA1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                          513,442
<INVESTMENTS-AT-VALUE>                         546,335
<RECEIVABLES>                                    5,704
<ASSETS-OTHER>                                      57
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 552,096
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,832
<TOTAL-LIABILITIES>                              1,832
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       508,795
<SHARES-COMMON-STOCK>                            9,009
<SHARES-COMMON-PRIOR>                           11,306
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           2,677
<ACCUMULATED-NET-GAINS>                         11,278
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        32,868
<NET-ASSETS>                                   550,264
<DIVIDEND-INCOME>                                7,767
<INTEREST-INCOME>                               18,333
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  13,356
<NET-INVESTMENT-INCOME>                         12,744
<REALIZED-GAINS-CURRENT>                        31,187
<APPREC-INCREASE-CURRENT>                        6,798
<NET-CHANGE-FROM-OPS>                           50,729
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        4,262
<DISTRIBUTIONS-OF-GAINS>                         4,252
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            935
<NUMBER-OF-SHARES-REDEEMED>                      3,815
<SHARES-REINVESTED>                                582
<NET-CHANGE-IN-ASSETS>                        (118,278)
<ACCUMULATED-NII-PRIOR>                          1,508
<ACCUMULATED-GAINS-PRIOR>                          408
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            6,109
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 13,356
<AVERAGE-NET-ASSETS>                           129,322
<PER-SHARE-NAV-BEGIN>                            12.48
<PER-SHARE-NII>                                    .35
<PER-SHARE-GAIN-APPREC>                            .86
<PER-SHARE-DIVIDEND>                               .45
<PER-SHARE-DISTRIBUTIONS>                          .49
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.75
<EXPENSE-RATIO>                                   1.64
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG MANAGED ASSETS FUND
<SERIES>
   <NUMBER> 062
   <NAME> ZMAB1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                          513,442
<INVESTMENTS-AT-VALUE>                         546,335
<RECEIVABLES>                                    5,704
<ASSETS-OTHER>                                      57
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 552,096
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,832
<TOTAL-LIABILITIES>                              1,832
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       508,795
<SHARES-COMMON-STOCK>                              491
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           2,677
<ACCUMULATED-NET-GAINS>                         11,278
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        32,868
<NET-ASSETS>                                   550,264
<DIVIDEND-INCOME>                                7,767
<INTEREST-INCOME>                               18,333
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  13,356
<NET-INVESTMENT-INCOME>                         12,744
<REALIZED-GAINS-CURRENT>                        31,187
<APPREC-INCREASE-CURRENT>                        6,798
<NET-CHANGE-FROM-OPS>                           50,729
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           74
<DISTRIBUTIONS-OF-GAINS>                           218
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            489
<NUMBER-OF-SHARES-REDEEMED>                         17
<SHARES-REINVESTED>                                 19
<NET-CHANGE-IN-ASSETS>                        (118,278)
<ACCUMULATED-NII-PRIOR>                          1,508
<ACCUMULATED-GAINS-PRIOR>                          408
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            6,109
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 13,356
<AVERAGE-NET-ASSETS>                             3,969
<PER-SHARE-NAV-BEGIN>                            12.43
<PER-SHARE-NII>                                    .13
<PER-SHARE-GAIN-APPREC>                           1.00
<PER-SHARE-DIVIDEND>                               .17
<PER-SHARE-DISTRIBUTIONS>                          .49
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.90
<EXPENSE-RATIO>                                   2.34
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG MANAGED ASSETS FUND
<SERIES>
   <NUMBER> 063
   <NAME> ZMAC1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                          513,442
<INVESTMENTS-AT-VALUE>                         546,335
<RECEIVABLES>                                    5,704
<ASSETS-OTHER>                                      57
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 552,096
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,832
<TOTAL-LIABILITIES>                              1,832
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       508,795
<SHARES-COMMON-STOCK>                           33,408
<SHARES-COMMON-PRIOR>                           42,231
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           2,677
<ACCUMULATED-NET-GAINS>                         11,278
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        32,868
<NET-ASSETS>                                   550,264
<DIVIDEND-INCOME>                                7,767
<INTEREST-INCOME>                               18,333
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  13,356
<NET-INVESTMENT-INCOME>                         12,744
<REALIZED-GAINS-CURRENT>                        31,187
<APPREC-INCREASE-CURRENT>                        6,798
<NET-CHANGE-FROM-OPS>                           50,729
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       12,584
<DISTRIBUTIONS-OF-GAINS>                        15,742
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          3,156
<NUMBER-OF-SHARES-REDEEMED>                     13,854
<SHARES-REINVESTED>                              1,876
<NET-CHANGE-IN-ASSETS>                        (118,278)
<ACCUMULATED-NII-PRIOR>                          1,508
<ACCUMULATED-GAINS-PRIOR>                          408
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            6,109
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 13,356
<AVERAGE-NET-ASSETS>                           477,821
<PER-SHARE-NAV-BEGIN>                            12.49
<PER-SHARE-NII>                                    .27
<PER-SHARE-GAIN-APPREC>                            .85
<PER-SHARE-DIVIDEND>                               .36
<PER-SHARE-DISTRIBUTIONS>                          .49
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.76
<EXPENSE-RATIO>                                   2.34
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG MANAGED ASSETS FUND
<SERIES>
   <NUMBER> 064
   <NAME> ZMAI1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                          513,442
<INVESTMENTS-AT-VALUE>                         546,335
<RECEIVABLES>                                    5,704
<ASSETS-OTHER>                                      57
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 552,096
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,832
<TOTAL-LIABILITIES>                              1,832
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       508,795
<SHARES-COMMON-STOCK>                              223
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                           2,677
<ACCUMULATED-NET-GAINS>                         11,278
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        32,868
<NET-ASSETS>                                   550,264
<DIVIDEND-INCOME>                                7,767
<INTEREST-INCOME>                               18,333
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  13,356
<NET-INVESTMENT-INCOME>                         12,744
<REALIZED-GAINS-CURRENT>                        31,187
<APPREC-INCREASE-CURRENT>                        6,798
<NET-CHANGE-FROM-OPS>                           50,729
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            9
<DISTRIBUTIONS-OF-GAINS>                           105
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            214
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  9
<NET-CHANGE-IN-ASSETS>                        (118,278)
<ACCUMULATED-NII-PRIOR>                          1,508
<ACCUMULATED-GAINS-PRIOR>                          408
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            6,109
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 13,356
<AVERAGE-NET-ASSETS>                             2,870
<PER-SHARE-NAV-BEGIN>                            13.02
<PER-SHARE-NII>                                    .05
<PER-SHARE-GAIN-APPREC>                            .45
<PER-SHARE-DIVIDEND>                               .04
<PER-SHARE-DISTRIBUTIONS>                          .49
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.99
<EXPENSE-RATIO>                                   1.34
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG GROWTH & INCOME FUND
<SERIES>
   <NUMBER> 071
   <NAME> ZGIA1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                            9,342
<INVESTMENTS-AT-VALUE>                           9,395
<RECEIVABLES>                                      437
<ASSETS-OTHER>                                       3
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   9,835
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           23
<TOTAL-LIABILITIES>                                 23
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         9,763
<SHARES-COMMON-STOCK>                              221
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             (5)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                            53
<NET-ASSETS>                                     9,811
<DIVIDEND-INCOME>                                    7
<INTEREST-INCOME>                                   13
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      12
<NET-INVESTMENT-INCOME>                              8
<REALIZED-GAINS-CURRENT>                            (5)
<APPREC-INCREASE-CURRENT>                           53
<NET-CHANGE-FROM-OPS>                               56
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            3
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            222
<NUMBER-OF-SHARES-REDEEMED>                          2
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           9,811
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                5
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     27
<AVERAGE-NET-ASSETS>                             2,102
<PER-SHARE-NAV-BEGIN>                            11.34
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                            .03
<PER-SHARE-DIVIDEND>                               .01
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.37
<EXPENSE-RATIO>                                   1.30
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG GROWTH & INCOME FUND
<SERIES>
   <NUMBER> 072
   <NAME> ZGIB1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                            9,342
<INVESTMENTS-AT-VALUE>                           9,395
<RECEIVABLES>                                      437
<ASSETS-OTHER>                                       3
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   9,835
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           23
<TOTAL-LIABILITIES>                                 23
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         9,763
<SHARES-COMMON-STOCK>                              237
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             (5)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                            53
<NET-ASSETS>                                     9,811
<DIVIDEND-INCOME>                                    7
<INTEREST-INCOME>                                   13
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      12
<NET-INVESTMENT-INCOME>                              8
<REALIZED-GAINS-CURRENT>                            (5)
<APPREC-INCREASE-CURRENT>                           53
<NET-CHANGE-FROM-OPS>                               56
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            2
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            240
<NUMBER-OF-SHARES-REDEEMED>                          3
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           9,811
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                5
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     27
<AVERAGE-NET-ASSETS>                             1,860
<PER-SHARE-NAV-BEGIN>                            11.34
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                            .03
<PER-SHARE-DIVIDEND>                               .01
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.37
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG GROWTH & INCOME FUND
<SERIES>
   <NUMBER> 073
   <NAME> ZGIC1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                            9,342
<INVESTMENTS-AT-VALUE>                           9,395
<RECEIVABLES>                                      437
<ASSETS-OTHER>                                       3
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   9,835
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           23
<TOTAL-LIABILITIES>                                 23
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         9,763
<SHARES-COMMON-STOCK>                              396
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             (5)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                            53
<NET-ASSETS>                                     9,811
<DIVIDEND-INCOME>                                    7
<INTEREST-INCOME>                                   13
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      12
<NET-INVESTMENT-INCOME>                              8
<REALIZED-GAINS-CURRENT>                            (5)
<APPREC-INCREASE-CURRENT>                           53
<NET-CHANGE-FROM-OPS>                               56
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            3
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            458
<NUMBER-OF-SHARES-REDEEMED>                         62
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           9,811
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                5
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     27
<AVERAGE-NET-ASSETS>                             3,428
<PER-SHARE-NAV-BEGIN>                            11.34
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                            .04
<PER-SHARE-DIVIDEND>                               .01
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.38
<EXPENSE-RATIO>                                   2.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000754363
<NAME> ZWEIG GROWTH & INCOME FUND
<SERIES>
   <NUMBER> 074
   <NAME> ZGII1296
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          DEC-31-1996
<PERIOD-END>                               DEC-31-1996
<INVESTMENTS-AT-COST>                            9,342
<INVESTMENTS-AT-VALUE>                           9,395
<RECEIVABLES>                                      437
<ASSETS-OTHER>                                       3
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   9,835
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           23
<TOTAL-LIABILITIES>                                 23
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         9,763
<SHARES-COMMON-STOCK>                                9
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                             (5)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                            53
<NET-ASSETS>                                     9,811
<DIVIDEND-INCOME>                                    7
<INTEREST-INCOME>                                   13
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      12
<NET-INVESTMENT-INCOME>                              8
<REALIZED-GAINS-CURRENT>                            (5)
<APPREC-INCREASE-CURRENT>                           53
<NET-CHANGE-FROM-OPS>                               56
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              9
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                           9,811
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                5
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     27
<AVERAGE-NET-ASSETS>                                80
<PER-SHARE-NAV-BEGIN>                            11.34
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                            .03
<PER-SHARE-DIVIDEND>                               .02
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.37
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


			 [ Coopers & Lybrand Letterhead ]


 REPORT OF INDEPENDENT ACCOUNTANTS

To the Board of Trustees of 
Zweig Series Trust:

In planning and performing our audit of the financial statements and financial 
highlights of Zweig Series Trust for the year ended December 31, 1996, we 
considered its internal control structure, including procedures for 
safeguarding securities, in order to determine our auditing procedures for 
the purposes of expressing our opinion on the financial statements and 
financial highlights and to comply with the requirements of Form N-SAR, not 
to provide assurance on the internal control structure.

The management of Zweig Series Trust is responsible for establishing and 
maintaining an internal control structure. In fulfilling this responsibility, 
estimates and judgments 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 or 
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 and 
financial highlights 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 December 31, 1996.

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

						/s/Coopers & Lybrand L.L.P.

						   Coopers & Lybrand L.L.P.


New York, New York
January  23, 1997





							







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