<PAGE> PAGE 1
000 A000000 04/30/99
000 C000000 0000790184
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 WINTHROP FOCUS FUNDS
001 B000000 811-04604
001 C000000 2128924000
002 A000000 277 PARK AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10172
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C020100 WINTHROP GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 WINTHROP GROWTH & INCOME FUND
007 C030200 N
007 C010300 3
007 C020300 WINTHROP SMALL COMPANY VALUE FUND
007 C030300 N
007 C010400 4
007 C020400 WINTHROP FIXED INCOME FUND
007 C030400 N
007 C010500 5
007 C020500 WINTHROP MUNICIPAL TRUST FUND
007 C030500 N
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
020 A000001 AUTRANET, INC
020 C000001 50
020 A000002 LEHMAN
020 C000002 41
020 A000003 FIRST BOSTON CORP
020 C000003 25
020 A000004 BAIRD, ROBERT W. & CO.
020 C000004 24
020 A000005 PAINE WEBBER JACKSON & CURTIS
<PAGE> PAGE 2
020 C000005 24
020 A000006 LEGG MASON WOOD WALKER
020 C000006 19
020 A000007 DONALDSON LUFKIN & JENRETTE, INC.
020 C000007 17
020 A000008 WEEDEN & CO.
020 C000008 13
020 A000009 MERRILL LYNCH
020 C000009 10
020 A000010 KING C L
020 C000010 10
021 000000 426
022 A000001 FORD MOTORS CORP
022 C000001 81851
022 D000001 7183
022 A000002 GOLDMAN SACHS
022 C000002 72999
022 D000002 4000
022 A000003 GENERAL ELECTRIC
022 C000003 69807
022 D000003 3378
022 A000004 LEHMAN BROTHERS
022 C000004 48903
022 D000004 3850
022 A000005 MERRILL LYNCH
022 C000005 28386
022 D000005 8712
022 A000006 FIRST BOSTON
022 C000006 24827
022 D000006 880
022 A000007 J P MORGAN
022 C000007 10479
022 D000007 9043
022 A000008 MORGAN STANLEY
022 C000008 15923
022 D000008 700
022 A000009 HSBC SECURITIES
022 C000009 2492
022 D000009 8857
022 A000010 SMITH BARNEY
022 C000010 7416
022 D000010 3049
023 C000000 542629
023 D000000 49652
077 A000000 N
028 A010100 1588
028 A020100 1591
028 A030100 0
028 A040100 812
028 B010100 1207
028 B020100 0
<PAGE> PAGE 3
028 B030100 0
028 B040100 512
028 C010100 1817
028 C020100 0
028 C030100 0
028 C040100 1700
028 D010100 4030
028 D020100 0
028 D030100 0
028 D040100 1529
028 E010100 6852
028 E020100 0
028 E030100 0
028 E040100 1418
028 F010100 3949
028 F020100 0
028 F030100 0
028 F040100 1328
028 G010100 19443
028 G020100 1591
028 G030100 0
028 G040100 7299
028 H000100 2323
029 000100 Y
030 A000100 121
030 B000100 5.75
030 C000100 5.75
031 A000100 12
031 B000100 0
032 000100 109
033 000100 0
042 A000100 3
042 B000100 1
042 C000100 0
042 D000100 47
042 E000100 10
042 F000100 0
042 G000100 39
042 H000100 0
043 000100 221
044 000100 172
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
<PAGE> PAGE 4
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
071 A000100 46778
071 B000100 34649
071 C000100 131151
071 D000100 26
072 A000100 6
072 B000100 68
072 C000100 686
072 D000100 0
072 E000100 0
072 F000100 456
072 G000100 0
072 H000100 0
072 I000100 36
072 J000100 8
072 K000100 0
072 L000100 12
072 M000100 7
072 N000100 23
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 9
072 S000100 62
072 T000100 274
072 U000100 0
072 V000100 0
072 W000100 15
072 X000100 902
072 Y000100 0
072 Z000100 -148
072AA000100 11478
072BB000100 0
072CC010100 15093
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 1803
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.2600
073 C000100 0.0000
074 A000100 1
074 B000100 2762
<PAGE> PAGE 5
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 149964
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 473
074 M000100 0
074 N000100 153200
074 O000100 0
074 P000100 135
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 193
074 S000100 0
074 T000100 152872
074 U010100 6313
074 U020100 1373
074 V010100 19.96
074 V020100 19.56
074 W000100 0.0000
074 X000100 4936
074 Y000100 0
075 A000100 0
075 B000100 134066
076 000100 0.00
028 A010200 2235
028 A020200 15252
028 A030200 0
028 A040200 1903
028 B010200 1836
028 B020200 248
028 B030200 0
028 B040200 2030
028 C010200 1570
028 C020200 0
028 C030200 0
028 C040200 2556
028 D010200 4511
028 D020200 0
028 D030200 0
028 D040200 2706
028 E010200 2065
028 E020200 124
028 E030200 0
028 E040200 5932
<PAGE> PAGE 6
028 F010200 54165
028 F020200 0
028 F030200 0
028 F040200 3099
028 G010200 66382
028 G020200 15624
028 G030200 0
028 G040200 18226
028 H000200 1566
029 000200 Y
030 A000200 67
030 B000200 5.75
030 C000200 5.75
031 A000200 7
031 B000200 0
032 000200 60
033 000200 0
042 A000200 3
042 B000200 1
042 C000200 0
042 D000200 37
042 E000200 12
042 F000200 0
042 G000200 47
042 H000200 0
043 000200 363
044 000200 174
055 A000200 Y
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
063 A000200 0
063 B000200 0.0
071 A000200 59825
071 B000200 22934
071 C000200 208188
<PAGE> PAGE 7
071 D000200 9
072 A000200 6
072 B000200 132
072 C000200 1564
072 D000200 0
072 E000200 0
072 F000200 609
072 G000200 0
072 H000200 0
072 I000200 54
072 J000200 18
072 K000200 0
072 L000200 19
072 M000200 9
072 N000200 28
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 11
072 S000200 18
072 T000200 438
072 U000200 0
072 V000200 0
072 W000200 87
072 X000200 1291
072 Y000200 0
072 Z000200 405
072AA000200 3583
072BB000200 0
072CC010200 25800
072CC020200 0
072DD010200 433
072DD020200 17
072EE000200 17560
073 A010200 0.5600
073 A020200 0.0100
073 B000200 2.0100
073 C000200 0.0000
074 A000200 10014
074 B000200 0
074 C000200 3504
074 D000200 0
074 E000200 0
074 F000200 259544
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 314
074 M000200 0
<PAGE> PAGE 8
074 N000200 273376
074 O000200 0
074 P000200 179
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 379
074 S000200 0
074 T000200 272818
074 U010200 7580
074 U020200 1718
074 V010200 23.73
074 V020200 23.64
074 W000200 0.0000
074 X000200 6802
074 Y000200 0
075 A000200 0
075 B000200 208624
076 000200 0.00
028 A010300 1675
028 A020300 174
028 A030300 0
028 A040300 9062
028 B010300 1320
028 B020300 778
028 B030300 0
028 B040300 5462
028 C010300 1056
028 C020300 0
028 C030300 0
028 C040300 4762
028 D010300 1172
028 D020300 0
028 D030300 0
028 D040300 9875
028 E010300 1076
028 E020300 0
028 E030300 0
028 E040300 16938
028 F010300 2005
028 F020300 0
028 F030300 0
028 F040300 10249
028 G010300 8304
028 G020300 952
028 G030300 0
028 G040300 56348
028 H000300 680
029 000300 Y
030 A000300 38
<PAGE> PAGE 9
030 B000300 5.75
030 C000300 5.75
031 A000300 4
031 B000300 0
032 000300 34
033 000300 0
042 A000300 4
042 B000300 1
042 C000300 0
042 D000300 29
042 E000300 14
042 F000300 0
042 G000300 52
042 H000300 0
043 000300 374
044 000300 227
055 A000300 Y
062 A000300 N
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
071 A000300 43427
071 B000300 72387
071 C000300 239359
071 D000300 18
072 A000300 6
072 B000300 98
072 C000300 1970
072 D000300 0
072 E000300 0
072 F000300 940
072 G000300 0
072 H000300 0
072 I000300 65
072 J000300 13
072 K000300 0
072 L000300 20
<PAGE> PAGE 10
072 M000300 9
072 N000300 26
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 13
072 S000300 135
072 T000300 439
072 U000300 0
072 V000300 0
072 W000300 15
072 X000300 1675
072 Y000300 0
072 Z000300 393
072AA000300 17351
072BB000300 0
072CC010300 0
072CC020300 7402
072DD010300 852
072DD020300 0
072EE000300 185
073 A010300 0.0730
073 A020300 0.0000
073 B000300 0.0140
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 0
074 D000300 0
074 E000300 0
074 F000300 222150
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 1122
074 K000300 0
074 L000300 370
074 M000300 0
074 N000300 223642
074 O000300 0
074 P000300 206
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 1067
074 S000300 0
074 T000300 222369
074 U010300 9889
074 U020300 1022
074 V010300 20.41
<PAGE> PAGE 11
074 V020300 20.09
074 W000300 0.0000
074 X000300 9662
074 Y000300 0
075 A000300 0
075 B000300 243424
076 000300 0.00
028 A010400 597
028 A020400 595
028 A030400 0
028 A040400 1001
028 B010400 653
028 B020400 169
028 B030400 0
028 B040400 571
028 C010400 372
028 C020400 170
028 C030400 0
028 C040400 797
028 D010400 619
028 D020400 155
028 D030400 0
028 D040400 1803
028 E010400 269
028 E020400 168
028 E030400 0
028 E040400 858
028 F010400 128991
028 F020400 163
028 F030400 0
028 F040400 1427
028 G010400 131501
028 G020400 1420
028 G030400 0
028 G040400 6457
028 H000400 278
029 000400 Y
030 A000400 13
030 B000400 4.75
030 C000400 4.75
031 A000400 1
031 B000400 0
032 000400 12
033 000400 0
042 A000400 3
042 B000400 1
042 C000400 0
042 D000400 34
042 E000400 13
042 F000400 0
042 G000400 49
<PAGE> PAGE 12
042 H000400 0
043 000400 82
044 000400 51
055 A000400 Y
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 5.7
062 J000400 0.0
062 K000400 0.0
062 L000400 2.6
062 M000400 18.3
062 N000400 27.1
062 O000400 0.0
062 P000400 46.3
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 6.3
071 A000400 138813
071 B000400 26573
071 C000400 51214
071 D000400 52
072 A000400 6
072 B000400 1522
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 161
072 G000400 0
072 H000400 0
072 I000400 29
072 J000400 4
072 K000400 0
072 L000400 5
072 M000400 4
072 N000400 15
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 4
072 S000400 29
072 T000400 97
072 U000400 0
072 V000400 0
072 W000400 5
<PAGE> PAGE 13
072 X000400 353
072 Y000400 75
072 Z000400 1244
072AA000400 33
072BB000400 0
072CC010400 0
072CC020400 1392
072DD010400 1126
072DD020400 118
072EE000400 537
073 A010400 0.2480
073 A020400 0.2120
073 B000400 0.1050
073 C000400 0.0000
074 A000400 2475
074 B000400 0
074 C000400 10176
074 D000400 163538
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 93
074 L000400 2148
074 M000400 0
074 N000400 178430
074 O000400 0
074 P000400 16
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 140
074 S000400 0
074 T000400 178274
074 U010400 4377
074 U020400 544
074 V010400 10.09
074 V020400 10.09
074 W000400 0.0000
074 X000400 1357
074 Y000400 0
075 A000400 0
075 B000400 52112
076 000400 0.00
028 A010500 386
028 A020500 114
028 A030500 0
028 A040500 400
<PAGE> PAGE 14
028 B010500 174
028 B020500 114
028 B030500 0
028 B040500 2211
028 C010500 1104
028 C020500 114
028 C030500 0
028 C040500 828
028 D010500 66
028 D020500 99
028 D030500 0
028 D040500 1118
028 E010500 730
028 E020500 103
028 E030500 0
028 E040500 601
028 F010500 52
028 F020500 99
028 F030500 0
028 F040500 2802
028 G010500 2512
028 G020500 643
028 G030500 0
028 G040500 7960
028 H000500 7
029 000500 Y
030 A000500 0
030 B000500 4.75
030 C000500 4.75
031 A000500 1
031 B000500 0
032 000500 1
033 000500 0
042 A000500 4
042 B000500 2
042 C000500 0
042 D000500 13
042 E000500 17
042 F000500 0
042 G000500 64
042 H000500 0
043 000500 59
044 000500 27
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
<PAGE> PAGE 15
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.5
062 M000500 0.0
062 N000500 0.0
062 O000500 99.5
062 P000500 0.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 7.5
071 A000500 15111
071 B000500 21195
071 C000500 43797
071 D000500 34
072 A000500 6
072 B000500 994
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 136
072 G000500 0
072 H000500 0
072 I000500 28
072 J000500 4
072 K000500 0
072 L000500 5
072 M000500 5
072 N000500 18
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 5
072 S000500 25
072 T000500 75
072 U000500 0
072 V000500 0
072 W000500 3
072 X000500 304
072 Y000500 81
072 Z000500 772
072AA000500 404
072BB000500 0
072CC010500 0
072CC020500 698
072DD010500 751
072DD020500 21
072EE000500 0
073 A010500 0.1860
073 A020500 0.1500
<PAGE> PAGE 16
073 B000500 10.4600
073 C000500 0.0000
074 A000500 6
074 B000500 0
074 C000500 0
074 D000500 40445
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 559
074 M000500 17
074 N000500 41027
074 O000500 0
074 P000500 18
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 372
074 S000500 0
074 T000500 40637
074 U010500 3755
074 U020500 130
074 V010500 10.46
074 V020500 10.46
074 W000500 0.0000
074 X000500 395
074 Y000500 1631
075 A000500 0
075 B000500 43905
076 000500 0.00
SIGNATURE BRIAN KAMMERER
TITLE VICE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> DLJ WINTHROP GROWTH FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 92614
<INVESTMENTS-AT-VALUE> 152725
<RECEIVABLES> 474
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 153200
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 328
<TOTAL-LIABILITIES> 328
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 81486
<SHARES-COMMON-STOCK> 6313
<SHARES-COMMON-PRIOR> 5875
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 148
<ACCUMULATED-NET-GAINS> 11423
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 60111
<NET-ASSETS> 152872
<DIVIDEND-INCOME> 686
<INTEREST-INCOME> 68
<OTHER-INCOME> 0
<EXPENSES-NET> 902
<NET-INVESTMENT-INCOME> (148)
<REALIZED-GAINS-CURRENT> 11478
<APPREC-INCREASE-CURRENT> 15093
<NET-CHANGE-FROM-OPS> 26423
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1523)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 671
<NUMBER-OF-SHARES-REDEEMED> (313)
<SHARES-REINVESTED> 80
<NET-CHANGE-IN-ASSETS> 38355
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1749
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 456
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 902
<AVERAGE-NET-ASSETS> 112548
<PER-SHARE-NAV-BEGIN> 16.52
<PER-SHARE-NII> (.010)
<PER-SHARE-GAIN-APPREC> 3710
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.26)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.96
<EXPENSE-RATIO> .012
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> DLJ WINTHROP GROWTH FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 92614
<INVESTMENTS-AT-VALUE> 152725
<RECEIVABLES> 474
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 153200
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 328
<TOTAL-LIABILITIES> 328
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 81486
<SHARES-COMMON-STOCK> 1373
<SHARES-COMMON-PRIOR> 1073
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 148
<ACCUMULATED-NET-GAINS> 11423
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 60111
<NET-ASSETS> 152872
<DIVIDEND-INCOME> 686
<INTEREST-INCOME> 68
<OTHER-INCOME> 0
<EXPENSES-NET> 902
<NET-INVESTMENT-INCOME> (148)
<REALIZED-GAINS-CURRENT> 11478
<APPREC-INCREASE-CURRENT> 15093
<NET-CHANGE-FROM-OPS> 26423
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (280)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 365
<NUMBER-OF-SHARES-REDEEMED> 82
<SHARES-REINVESTED> 17
<NET-CHANGE-IN-ASSETS> 38355
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1749
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 456
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 902
<AVERAGE-NET-ASSETS> 217517
<PER-SHARE-NAV-BEGIN> 16.25
<PER-SHARE-NII> (.074)
<PER-SHARE-GAIN-APPREC> 3.644
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.260)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.56
<EXPENSE-RATIO> .019
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> DLJ WINTHROP GROWTH AND INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 172587
<INVESTMENTS-AT-VALUE> 263047
<RECEIVABLES> 315
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 10014
<TOTAL-ASSETS> 273376
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 558
<TOTAL-LIABILITIES> 558
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 178437
<SHARES-COMMON-STOCK> 7580
<SHARES-COMMON-PRIOR> 7255
<ACCUMULATED-NII-CURRENT> 499
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3422
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 90460
<NET-ASSETS> 272818
<DIVIDEND-INCOME> 1564
<INTEREST-INCOME> 132
<OTHER-INCOME> 0
<EXPENSES-NET> 1291
<NET-INVESTMENT-INCOME> 405
<REALIZED-GAINS-CURRENT> 3583
<APPREC-INCREASE-CURRENT> 25800
<NET-CHANGE-FROM-OPS> 29788
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (433)
<DISTRIBUTIONS-OF-GAINS> (14557)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 424
<NUMBER-OF-SHARES-REDEEMED> (705)
<SHARES-REINVESTED> 606
<NET-CHANGE-IN-ASSETS> 75558
<ACCUMULATED-NII-PRIOR> 544
<ACCUMULATED-GAINS-PRIOR> 17398
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 609
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1291
<AVERAGE-NET-ASSETS> 171643
<PER-SHARE-NAV-BEGIN> 22.60
<PER-SHARE-NII> .113
<PER-SHARE-GAIN-APPREC> 3083
<PER-SHARE-DIVIDEND> (.056)
<PER-SHARE-DISTRIBUTIONS> (2.010)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.73
<EXPENSE-RATIO> .011
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> DLJ WINTHROP GROWTH AND INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 172587
<INVESTMENTS-AT-VALUE> 263047
<RECEIVABLES> 315
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 10014
<TOTAL-ASSETS> 273376
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 558
<TOTAL-LIABILITIES> 558
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 178437
<SHARES-COMMON-STOCK> 1718
<SHARES-COMMON-PRIOR> 1478
<ACCUMULATED-NII-CURRENT> 499
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3422
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 90460
<NET-ASSETS> 272818
<DIVIDEND-INCOME> 1564
<INTEREST-INCOME> 132
<OTHER-INCOME> 0
<EXPENSES-NET> 1291
<NET-INVESTMENT-INCOME> 405
<REALIZED-GAINS-CURRENT> 3583
<APPREC-INCREASE-CURRENT> 25800
<NET-CHANGE-FROM-OPS> 29788
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (17)
<DISTRIBUTIONS-OF-GAINS> (3003)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 211
<NUMBER-OF-SHARES-REDEEMED> (111)
<SHARES-REINVESTED> 140
<NET-CHANGE-IN-ASSETS> 75558
<ACCUMULATED-NII-PRIOR> 544
<ACCUMULATED-GAINS-PRIOR> 17398
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 609
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1291
<AVERAGE-NET-ASSETS> 36982
<PER-SHARE-NAV-BEGIN> 22.55
<PER-SHARE-NII> (.010)
<PER-SHARE-GAIN-APPREC> 3.120
<PER-SHARE-DIVIDEND> (.010)
<PER-SHARE-DISTRIBUTIONS> (2.010)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.64
<EXPENSE-RATIO> .018
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 023
<NAME> DLJ WINTHROP GROWTH AND INCOME FUND CLASS D
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> APR-30-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 172587
<INVESTMENTS-AT-VALUE> 263047
<RECEIVABLES> 315
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 10014
<TOTAL-ASSETS> 273376
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 558
<TOTAL-LIABILITIES> 558
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 178437
<SHARES-COMMON-STOCK> 2206
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 499
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3422
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 90460
<NET-ASSETS> 272818
<DIVIDEND-INCOME> 1564
<INTEREST-INCOME> 132
<OTHER-INCOME> 0
<EXPENSES-NET> 1291
<NET-INVESTMENT-INCOME> 405
<REALIZED-GAINS-CURRENT> 3583
<APPREC-INCREASE-CURRENT> 25800
<NET-CHANGE-FROM-OPS> 29788
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2206
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 75558
<ACCUMULATED-NII-PRIOR> 544
<ACCUMULATED-GAINS-PRIOR> 17398
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 609
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1291
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 23.73
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.73
<EXPENSE-RATIO> 0
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 031
<NAME> DLJ WINTHROP SMALL COMPANY VALUE FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 168310
<INVESTMENTS-AT-VALUE> 222150
<RECEIVABLES> 1493
<ASSETS-OTHER> 1122
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 223643
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1274
<TOTAL-LIABILITIES> 1274
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150992
<SHARES-COMMON-STOCK> 9889
<SHARES-COMMON-PRIOR> 12175
<ACCUMULATED-NII-CURRENT> 198
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 17339
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 53840
<NET-ASSETS> 222369
<DIVIDEND-INCOME> 1970
<INTEREST-INCOME> 98
<OTHER-INCOME> 0
<EXPENSES-NET> 1676
<NET-INVESTMENT-INCOME> 393
<REALIZED-GAINS-CURRENT> 17351
<APPREC-INCREASE-CURRENT> (7402)
<NET-CHANGE-FROM-OPS> 10341
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (852)
<DISTRIBUTIONS-OF-GAINS> (169)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 323
<NUMBER-OF-SHARES-REDEEMED> (2655)
<SHARES-REINVESTED> 46
<NET-CHANGE-IN-ASSETS> (37788)
<ACCUMULATED-NII-PRIOR> 658
<ACCUMULATED-GAINS-PRIOR> 174
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 940
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1676
<AVERAGE-NET-ASSETS> 221335
<PER-SHARE-NAV-BEGIN> 19.54
<PER-SHARE-NII> .111
<PER-SHARE-GAIN-APPREC> .846
<PER-SHARE-DIVIDEND> (.073)
<PER-SHARE-DISTRIBUTIONS> (.014)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.41
<EXPENSE-RATIO> .013
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 032
<NAME> DLJ WINTHROP SMALL COMPANY VALUE CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 168310
<INVESTMENTS-AT-VALUE> 222150
<RECEIVABLES> 1493
<ASSETS-OTHER> 1122
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 223643
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1274
<TOTAL-LIABILITIES> 1274
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150992
<SHARES-COMMON-STOCK> 1022
<SHARES-COMMON-PRIOR> 1159
<ACCUMULATED-NII-CURRENT> 198
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 17339
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 53840
<NET-ASSETS> 222369
<DIVIDEND-INCOME> 1970
<INTEREST-INCOME> 98
<OTHER-INCOME> 0
<EXPENSES-NET> 1676
<NET-INVESTMENT-INCOME> 393
<REALIZED-GAINS-CURRENT> 17351
<APPREC-INCREASE-CURRENT> (7402)
<NET-CHANGE-FROM-OPS> 10341
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (16)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 99
<NUMBER-OF-SHARES-REDEEMED> (237)
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> (37788)
<ACCUMULATED-NII-PRIOR> 658
<ACCUMULATED-GAINS-PRIOR> 174
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 940
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1676
<AVERAGE-NET-ASSETS> 22089
<PER-SHARE-NAV-BEGIN> 19.23
<PER-SHARE-NII> (.030)
<PER-SHARE-GAIN-APPREC> .904
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.014)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.09
<EXPENSE-RATIO> .020
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 041
<NAME> DLJ WINTHROP FIXED INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 173328
<INVESTMENTS-AT-VALUE> 173714
<RECEIVABLES> 2148
<ASSETS-OTHER> 93
<OTHER-ITEMS-ASSETS> 2475
<TOTAL-ASSETS> 178430
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 156
<TOTAL-LIABILITIES> 156
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 177997
<SHARES-COMMON-STOCK> 4377
<SHARES-COMMON-PRIOR> 4572
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (109)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 386
<NET-ASSETS> 178274
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1522
<OTHER-INCOME> 0
<EXPENSES-NET> 278
<NET-INVESTMENT-INCOME> 1244
<REALIZED-GAINS-CURRENT> 33
<APPREC-INCREASE-CURRENT> (1393)
<NET-CHANGE-FROM-OPS> (116)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1126)
<DISTRIBUTIONS-OF-GAINS> (478)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 219
<NUMBER-OF-SHARES-REDEEMED> (537)
<SHARES-REINVESTED> 123
<NET-CHANGE-IN-ASSETS> 124935
<ACCUMULATED-NII-PRIOR> 124591
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 393
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 162
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 353
<PER-SHARE-NAV-BEGIN> 46425
<PER-SHARE-NII> 10.46
<PER-SHARE-GAIN-APPREC> .248
<PER-SHARE-DIVIDEND> (.248)
<PER-SHARE-DISTRIBUTIONS> (.105)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.09
<EXPENSE-RATIO> .01
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 042
<NAME> DLJ WINTHROP FIXED INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 173328
<INVESTMENTS-AT-VALUE> 173714
<RECEIVABLES> 2148
<ASSETS-OTHER> 93
<OTHER-ITEMS-ASSETS> 2475
<TOTAL-ASSETS> 178430
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 156
<TOTAL-LIABILITIES> 156
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 177997
<SHARES-COMMON-STOCK> 544
<SHARES-COMMON-PRIOR> 559
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (109)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 386
<NET-ASSETS> 178274
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1522
<OTHER-INCOME> 0
<EXPENSES-NET> 278
<NET-INVESTMENT-INCOME> 1244
<REALIZED-GAINS-CURRENT> 33
<APPREC-INCREASE-CURRENT> (1393)
<NET-CHANGE-FROM-OPS> (116)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (118)
<DISTRIBUTIONS-OF-GAINS> (59)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 64
<NUMBER-OF-SHARES-REDEEMED> (95)
<SHARES-REINVESTED> 16
<NET-CHANGE-IN-ASSETS> 124591
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 393
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 162
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 353
<AVERAGE-NET-ASSETS> 5686
<PER-SHARE-NAV-BEGIN> 10.46
<PER-SHARE-NII> .212
<PER-SHARE-GAIN-APPREC> (.265)
<PER-SHARE-DIVIDEND> (.212)
<PER-SHARE-DISTRIBUTIONS> (.105)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.09
<EXPENSE-RATIO> .017
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 043
<NAME> DLJ WINTHROP FIXED INCOME CLASS D
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> APR-30-1999
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 173328
<INVESTMENTS-AT-VALUE> 173714
<RECEIVABLES> 2148
<ASSETS-OTHER> 93
<OTHER-ITEMS-ASSETS> 2475
<TOTAL-ASSETS> 178430
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 156
<TOTAL-LIABILITIES> 156
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 177997
<SHARES-COMMON-STOCK> 12747
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (109)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 386
<NET-ASSETS> 178274
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1522
<OTHER-INCOME> 0
<EXPENSES-NET> 278
<NET-INVESTMENT-INCOME> 1244
<REALIZED-GAINS-CURRENT> 33
<APPREC-INCREASE-CURRENT> (1393)
<NET-CHANGE-FROM-OPS> (116)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12747
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 124591
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 393
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 162
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 353
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 10.09
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.09
<EXPENSE-RATIO> 0
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 051
<NAME> DLJ WINTHROP MUNICIPAL TRUST FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 39294
<INVESTMENTS-AT-VALUE> 40445
<RECEIVABLES> 559
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 6
<TOTAL-ASSETS> 41010
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 390
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39075
<SHARES-COMMON-STOCK> 3755
<SHARES-COMMON-PRIOR> 4206
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 411
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1151
<NET-ASSETS> 40637
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 995
<OTHER-INCOME> 0
<EXPENSES-NET> 223
<NET-INVESTMENT-INCOME> 772
<REALIZED-GAINS-CURRENT> 404
<APPREC-INCREASE-CURRENT> (698)
<NET-CHANGE-FROM-OPS> 478
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 751
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 231
<NUMBER-OF-SHARES-REDEEMED> 742
<SHARES-REINVESTED> 60
<NET-CHANGE-IN-ASSETS> (5)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 136
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 304
<AVERAGE-NET-ASSETS> 42455
<PER-SHARE-NAV-BEGIN> 10.53
<PER-SHARE-NII> .186
<PER-SHARE-GAIN-APPREC> (.070)
<PER-SHARE-DIVIDEND> (.186)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.46
<EXPENSE-RATIO> 1.00
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 052
<NAME> DLJ WINTHROP MUNICIPAL TRUST FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1999
<PERIOD-START> NOV-01-1998
<PERIOD-END> APR-30-1999
<INVESTMENTS-AT-COST> 39294
<INVESTMENTS-AT-VALUE> 40445
<RECEIVABLES> 559
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 23
<TOTAL-ASSETS> 41027
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 390
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39075
<SHARES-COMMON-STOCK> 130
<SHARES-COMMON-PRIOR> 136
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 411
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1151
<NET-ASSETS> 40637
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 995
<OTHER-INCOME> 0
<EXPENSES-NET> 223
<NET-INVESTMENT-INCOME> 772
<REALIZED-GAINS-CURRENT> 404
<APPREC-INCREASE-CURRENT> (698)
<NET-CHANGE-FROM-OPS> 478
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 21
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 8
<NUMBER-OF-SHARES-REDEEMED> 14
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> (5)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 7
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 136
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 304
<AVERAGE-NET-ASSETS> 1451
<PER-SHARE-NAV-BEGIN> 10.53
<PER-SHARE-NII> .150
<PER-SHARE-GAIN-APPREC> (.070)
<PER-SHARE-DIVIDEND> (.150)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.46
<EXPENSE-RATIO> 1.70
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
