WINTHROP FOCUS FUNDS
NSAR-A, 1998-06-25
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<PAGE>      PAGE  1
000 A000000 04/30/98
000 C000000 0000790184
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 J000000 U
001 A000000 WINTHROP FOCUS FUNDS
001 B000000 811-04604
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002 A000000 277 PARK AVENUE
002 B000000 NEW YORK
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<PAGE>      PAGE  3
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<PAGE>      PAGE  4
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SIGNATURE   BRIAN KAMMERER                               
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 011
   <NAME> WINTHROP GROWTH FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                           69,467
<INVESTMENTS-AT-VALUE>                         114,670
<RECEIVABLES>                                      359
<ASSETS-OTHER>                                      22
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<TOTAL-ASSETS>                                  115051
<PAYABLE-FOR-SECURITIES>                             0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        66,775
<SHARES-COMMON-STOCK>                            5,918
<SHARES-COMMON-PRIOR>                            5,695
<ACCUMULATED-NII-CURRENT>                         (48)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          2,913
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        45,203
<NET-ASSETS>                                   114,843
<DIVIDEND-INCOME>                                  612
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<EXPENSES-NET>                                     724
<NET-INVESTMENT-INCOME>                           (38)
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<NET-CHANGE-FROM-OPS>                           20,231
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          102
<DISTRIBUTIONS-OF-GAINS>                         5,210
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<NUMBER-OF-SHARES-SOLD>                            207
<NUMBER-OF-SHARES-REDEEMED>                        286
<SHARES-REINVESTED>                                302
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<ACCUMULATED-NII-PRIOR>                             93
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<GROSS-ADVISORY-FEES>                              380
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    724
<AVERAGE-NET-ASSETS>                            91,040
<PER-SHARE-NAV-BEGIN>                            14.56
<PER-SHARE-NII>                                  0.018
<PER-SHARE-GAIN-APPREC>                          2.915
<PER-SHARE-DIVIDEND>                             0.017
<PER-SHARE-DISTRIBUTIONS>                        0.812
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.70
<EXPENSE-RATIO>                                   1.32
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 012
   <NAME> WINTHROP GROWTH FUND CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                           69,467
<INVESTMENTS-AT-VALUE>                         114,670
<RECEIVABLES>                                      359
<ASSETS-OTHER>                                      22
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 115,051
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        66,775
<SHARES-COMMON-STOCK>                              972
<SHARES-COMMON-PRIOR>                              720
<ACCUMULATED-NII-CURRENT>                         (48)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          2,913
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        45,203
<NET-ASSETS>                                   114,843
<DIVIDEND-INCOME>                                  612
<INTEREST-INCOME>                                   74
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     724
<NET-INVESTMENT-INCOME>                           (38)
<REALIZED-GAINS-CURRENT>                          2914
<APPREC-INCREASE-CURRENT>                       17,355
<NET-CHANGE-FROM-OPS>                           20,231
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          102
<DISTRIBUTIONS-OF-GAINS>                         5,210
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<ACCUMULATED-NII-PRIOR>                             93
<ACCUMULATED-GAINS-PRIOR>                        5,208
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<PER-SHARE-NAV-BEGIN>                            14.41
<PER-SHARE-NII>                                (0.047)
<PER-SHARE-GAIN-APPREC>                          2.939
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                      (0.812)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.49
<EXPENSE-RATIO>                                   2.02
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 021
   <NAME> WINTHROP GROWTH & INCOME FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                          118,757
<INVESTMENTS-AT-VALUE>                         199,839
<RECEIVABLES>                                    1,084
<ASSETS-OTHER>                                       4
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 200,927
<PAYABLE-FOR-SECURITIES>                             0
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<OTHER-ITEMS-LIABILITIES>                          344
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       114,507
<SHARES-COMMON-STOCK>                            7,413
<SHARES-COMMON-PRIOR>                            7,247
<ACCUMULATED-NII-CURRENT>                          406
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          4,588
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        81,082
<NET-ASSETS>                                   200,583
<DIVIDEND-INCOME>                                1,636
<INTEREST-INCOME>                                  336
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   1,146
<NET-INVESTMENT-INCOME>                            826
<REALIZED-GAINS-CURRENT>                         4,610
<APPREC-INCREASE-CURRENT>                       26,584
<NET-CHANGE-FROM-OPS>                           32,020
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          702
<DISTRIBUTIONS-OF-GAINS>                         6,452
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            363
<NUMBER-OF-SHARES-REDEEMED>                        471
<SHARES-REINVESTED>                                274
<NET-CHANGE-IN-ASSETS>                          35,333
<ACCUMULATED-NII-PRIOR>                            282
<ACCUMULATED-GAINS-PRIOR>                        6,430
<OVERDISTRIB-NII-PRIOR>                              0
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<GROSS-ADVISORY-FEES>                              551
<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                               160
<PER-SHARE-NAV-BEGIN>                              384
<PER-SHARE-NII>                                  20.09
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<PER-SHARE-DISTRIBUTIONS>                        0.090
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<PER-SHARE-NAV-END>                                  0
<EXPENSE-RATIO>                                  22.95
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 022
   <NAME> WINTHROP GROWTH & INCOME FUND CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                          118,757
<INVESTMENTS-AT-VALUE>                         199,839
<RECEIVABLES>                                    1,084
<ASSETS-OTHER>                                       4
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 200,927
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          344
<TOTAL-LIABILITIES>                                344
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       114,507
<SHARES-COMMON-STOCK>                            1,330
<SHARES-COMMON-PRIOR>                              980
<ACCUMULATED-NII-CURRENT>                          406
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          4,588
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        81,082
<NET-ASSETS>                                   200,583
<DIVIDEND-INCOME>                                1,636
<INTEREST-INCOME>                                  336
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   1,146
<NET-INVESTMENT-INCOME>                            826
<REALIZED-GAINS-CURRENT>                          4610
<APPREC-INCREASE-CURRENT>                       26,584
<NET-CHANGE-FROM-OPS>                           32,020
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          702
<DISTRIBUTIONS-OF-GAINS>                          6452
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            357
<NUMBER-OF-SHARES-REDEEMED>                         47
<SHARES-REINVESTED>                                 40
<NET-CHANGE-IN-ASSETS>                          35,333
<ACCUMULATED-NII-PRIOR>                            282
<ACCUMULATED-GAINS-PRIOR>                         6430
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              551
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   1146
<AVERAGE-NET-ASSETS>                            24,501
<PER-SHARE-NAV-BEGIN>                            20.06
<PER-SHARE-NII>                                  0.050
<PER-SHARE-GAIN-APPREC>                          3.595
<PER-SHARE-DIVIDEND>                             0.024
<PER-SHARE-DISTRIBUTIONS>                        0.781
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              22.90
<EXPENSE-RATIO>                                   1.86
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 031
   <NAME> WINTHROP SMALL COMPANY VALUE FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                          225,460
<INVESTMENTS-AT-VALUE>                         337,670
<RECEIVABLES>                                    1,759
<ASSETS-OTHER>                                     101
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 339,530
<PAYABLE-FOR-SECURITIES>                           106
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          714
<TOTAL-LIABILITIES>                                820
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       225,242
<SHARES-COMMON-STOCK>                           12,789
<SHARES-COMMON-PRIOR>                           12,127
<ACCUMULATED-NII-CURRENT>                          458
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            793
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       112,217
<NET-ASSETS>                                   338,710
<DIVIDEND-INCOME>                                 1980
<INTEREST-INCOME>                                  548
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    2094
<NET-INVESTMENT-INCOME>                            434
<REALIZED-GAINS-CURRENT>                        16,051
<APPREC-INCREASE-CURRENT>                       16,359
<NET-CHANGE-FROM-OPS>                           32,844
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          809
<DISTRIBUTIONS-OF-GAINS>                        16,188
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            761
<NUMBER-OF-SHARES-REDEEMED>                        785
<SHARES-REINVESTED>                                687
<NET-CHANGE-IN-ASSETS>                          37,314
<ACCUMULATED-NII-PRIOR>                            833
<ACCUMULATED-GAINS-PRIOR>                          930
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                             1168
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   2094
<AVERAGE-NET-ASSETS>                           294,802
<PER-SHARE-NAV-BEGIN>                            23.34
<PER-SHARE-NII>                                  0.100
<PER-SHARE-GAIN-APPREC>                          2.258
<PER-SHARE-DIVIDEND>                             0.063
<PER-SHARE-DISTRIBUTIONS>                        1.255
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              24.38
<EXPENSE-RATIO>                                   1.28
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 032
   <NAME> WINTHROP SMALL COMPANY VALUE FUND CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                          225,460
<INVESTMENTS-AT-VALUE>                         337,670
<RECEIVABLES>                                     1759
<ASSETS-OTHER>                                     101
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                 339,530
<PAYABLE-FOR-SECURITIES>                           106
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          714
<TOTAL-LIABILITIES>                                820
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       225,242
<SHARES-COMMON-STOCK>                             1115
<SHARES-COMMON-PRIOR>                              796
<ACCUMULATED-NII-CURRENT>                          458
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            793
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       112,217
<NET-ASSETS>                                   338,710
<DIVIDEND-INCOME>                                 1980
<INTEREST-INCOME>                                  548
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    2094
<NET-INVESTMENT-INCOME>                            434
<REALIZED-GAINS-CURRENT>                        16,051
<APPREC-INCREASE-CURRENT>                       16,359
<NET-CHANGE-FROM-OPS>                           32,844
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          809
<DISTRIBUTIONS-OF-GAINS>                        16,188
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            310
<NUMBER-OF-SHARES-REDEEMED>                         36
<SHARES-REINVESTED>                                 36
<NET-CHANGE-IN-ASSETS>                              46
<ACCUMULATED-NII-PRIOR>                         37,314
<ACCUMULATED-GAINS-PRIOR>                          833
<OVERDISTRIB-NII-PRIOR>                            930
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                1168
<GROSS-EXPENSE>                                   2094
<AVERAGE-NET-ASSETS>                            22,228
<PER-SHARE-NAV-BEGIN>                            23.12
<PER-SHARE-NII>                                (0.038)
<PER-SHARE-GAIN-APPREC>                          2.293
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        1.255
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              24.12
<EXPENSE-RATIO>                                   1.98
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 041
   <NAME> WINTHROP FIXED INCOME FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                           53,875
<INVESTMENTS-AT-VALUE>                          54,647
<RECEIVABLES>                                    8,440
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  63,087
<PAYABLE-FOR-SECURITIES>                          7221
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          221
<TOTAL-LIABILITIES>                               7442
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        54,912
<SHARES-COMMON-STOCK>                             5065
<SHARES-COMMON-PRIOR>                             5388
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           (39)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           772
<NET-ASSETS>                                    55,645
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                1,784
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     294
<NET-INVESTMENT-INCOME>                          1,490
<REALIZED-GAINS-CURRENT>                           625
<APPREC-INCREASE-CURRENT>                        (523)
<NET-CHANGE-FROM-OPS>                            1,592
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         1490
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            394
<NUMBER-OF-SHARES-REDEEMED>                        822
<SHARES-REINVESTED>                                107
<NET-CHANGE-IN-ASSETS>                          (2485)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        (663)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              176
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    294
<AVERAGE-NET-ASSETS>                            52,848
<PER-SHARE-NAV-BEGIN>                            10.16
<PER-SHARE-NII>                                  0.271
<PER-SHARE-GAIN-APPREC>                          0.020
<PER-SHARE-DIVIDEND>                             0.271
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.18
<EXPENSE-RATIO>                                   1.77
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 042
   <NAME> WINTHROP FIXED INCOME FUND CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                           53,875
<INVESTMENTS-AT-VALUE>                          54,647
<RECEIVABLES>                                     8440
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  63,087
<PAYABLE-FOR-SECURITIES>                          7221
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          221
<TOTAL-LIABILITIES>                               7442
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        54,912
<SHARES-COMMON-STOCK>                              400
<SHARES-COMMON-PRIOR>                              332
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           (39)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           772
<NET-ASSETS>                                    55,645
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 1784
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     294
<NET-INVESTMENT-INCOME>                           1490
<REALIZED-GAINS-CURRENT>                           625
<APPREC-INCREASE-CURRENT>                        (523)
<NET-CHANGE-FROM-OPS>                             1592
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                         1490
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            137
<NUMBER-OF-SHARES-REDEEMED>                         75
<SHARES-REINVESTED>                                  6
<NET-CHANGE-IN-ASSETS>                          (2485)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        (663)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              176
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    294
<AVERAGE-NET-ASSETS>                            52,848
<PER-SHARE-NAV-BEGIN>                            10.16
<PER-SHARE-NII>                                  0.235
<PER-SHARE-GAIN-APPREC>                          0.020
<PER-SHARE-DIVIDEND>                             0.235
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.18
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 051
   <NAME> WINTHROP MUNICIPAL TRUST FUND CLASS A
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1998
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                           37,660
<INVESTMENTS-AT-VALUE>                          38,655
<RECEIVABLES>                                      969
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 5
<TOTAL-ASSETS>                                  39,629
<PAYABLE-FOR-SECURITIES>                         1,337
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          246
<TOTAL-LIABILITIES>                               1583
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        37,262
<SHARES-COMMON-STOCK>                             3602
<SHARES-COMMON-PRIOR>                             3486
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (210)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           994
<NET-ASSETS>                                    38,046
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  904
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     187
<NET-INVESTMENT-INCOME>                            717
<REALIZED-GAINS-CURRENT>                           237
<APPREC-INCREASE-CURRENT>                        (304)
<NET-CHANGE-FROM-OPS>                              650
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          717
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            476
<NUMBER-OF-SHARES-REDEEMED>                        415
<SHARES-REINVESTED>                                 55
<NET-CHANGE-IN-ASSETS>                               0
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        (447)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              115
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    265
<AVERAGE-NET-ASSETS>                            36,476
<PER-SHARE-NAV-BEGIN>                            10.29
<PER-SHARE-NII>                                  0.201
<PER-SHARE-GAIN-APPREC>                        (0.020)
<PER-SHARE-DIVIDEND>                             0.201
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.27
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<SERIES>
   <NUMBER> 052
   <NAME> WINTHROP MUNICIPAL TRUST FUND CLASS B
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          OCT-31-1998
<PERIOD-START>                             NOV-01-1997
<PERIOD-END>                               APR-30-1998
<INVESTMENTS-AT-COST>                           37,660
<INVESTMENTS-AT-VALUE>                          38,655
<RECEIVABLES>                                      969
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 5
<TOTAL-ASSETS>                                  39,629
<PAYABLE-FOR-SECURITIES>                         1,337
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          246
<TOTAL-LIABILITIES>                               1583
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        37,262
<SHARES-COMMON-STOCK>                             3602
<SHARES-COMMON-PRIOR>                               53
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (210)
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           994
<NET-ASSETS>                                    38,046
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  904
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     187
<NET-INVESTMENT-INCOME>                            717
<REALIZED-GAINS-CURRENT>                           237
<APPREC-INCREASE-CURRENT>                        (304)
<NET-CHANGE-FROM-OPS>                              650
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          717
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             48
<NUMBER-OF-SHARES-REDEEMED>                          1
<SHARES-REINVESTED>                                  1
<NET-CHANGE-IN-ASSETS>                               0
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                        (447)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              115
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    265
<AVERAGE-NET-ASSETS>                               741
<PER-SHARE-NAV-BEGIN>                            10.29
<PER-SHARE-NII>                                  0.164
<PER-SHARE-GAIN-APPREC>                        (0.020)
<PER-SHARE-DIVIDEND>                             0.164
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.27
<EXPENSE-RATIO>                                   1.70
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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