<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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008 A001501 STANDISH, AYER & WOOD INC.
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<PAGE> PAGE 20
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028 A011500 271
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028 A031500 0
028 A041500 2
028 B011500 88
028 B021500 0
028 B031500 0
028 B041500 0
028 C011500 410
028 C021500 23
028 C031500 0
028 C041500 0
028 D011500 949
028 D021500 0
028 D031500 0
028 D041500 0
028 E011500 407
028 E021500 0
028 E031500 0
028 E041500 0
028 F011500 150
028 F021500 0
028 F031500 0
028 F041500 5
028 G011500 2275
028 G021500 23
028 G031500 0
028 G041500 5
028 H001500 0
029 001500 N
<PAGE> PAGE 21
030 A001500 0
030 B001500 0.00
030 C001500 0.00
034 001500 N
035 001500 0
036 B001500 0
037 001500 N
038 001500 0
039 001500 N
040 001500 N
045 001500 Y
046 001500 N
047 001500 Y
048 001500 0.500
048 A011500 0
048 A021500 0.000
048 B011500 0
048 B021500 0.000
048 C011500 0
048 C021500 0.000
048 D011500 0
048 D021500 0.000
048 E011500 0
048 E021500 0.000
048 F011500 0
048 F021500 0.000
048 G011500 0
048 G021500 0.000
048 H011500 0
048 H021500 0.000
048 I011500 0
048 I021500 0.000
048 J011500 0
048 J021500 0.000
048 K011500 0
048 K021500 0.000
049 001500 N
050 001500 N
051 001500 N
052 001500 N
053 A001500 Y
053 B001500 Y
054 A001500 Y
054 B001500 N
054 C001500 N
054 D001500 N
054 E001500 N
054 F001500 N
054 G001500 Y
054 H001500 Y
054 I001500 N
<PAGE> PAGE 22
054 J001500 Y
054 K001500 Y
054 L001500 N
054 M001500 Y
054 N001500 Y
054 O001500 N
055 A001500 N
055 B001500 N
056 001500 Y
057 001500 N
058 A001500 N
059 001500 Y
060 A001500 Y
060 B001500 Y
061 001500 100000
062 A001500 N
062 B001500 0.0
062 C001500 0.0
062 D001500 0.0
062 E001500 0.0
062 F001500 0.0
062 G001500 0.0
062 H001500 0.0
062 I001500 0.0
062 J001500 0.0
062 K001500 0.0
062 L001500 0.0
062 M001500 0.0
062 N001500 0.0
062 O001500 0.0
062 P001500 0.0
062 Q001500 0.0
062 R001500 0.0
066 A001500 Y
066 D001500 Y
067 001500 N
068 A001500 N
068 B001500 N
069 001500 N
070 A011500 Y
070 A021500 N
070 B011500 Y
070 B021500 N
070 C011500 Y
070 C021500 N
070 D011500 Y
070 D021500 N
070 E011500 Y
070 E021500 N
070 F011500 Y
070 F021500 N
<PAGE> PAGE 23
070 G011500 Y
070 G021500 N
070 H011500 Y
070 H021500 N
070 I011500 N
070 I021500 N
070 J011500 Y
070 J021500 N
070 K011500 Y
070 K021500 N
070 L011500 Y
070 L021500 N
070 M011500 N
070 M021500 N
070 N011500 N
070 N021500 N
070 O011500 N
070 O021500 N
070 P011500 N
070 P021500 N
070 Q011500 N
070 Q021500 N
070 R011500 N
070 R021500 N
071 A001500 2603
071 B001500 550
071 C001500 4085
071 D001500 13
072 A001500 6
072 B001500 4
072 C001500 32
072 D001500 0
072 E001500 0
072 F001500 11
072 G001500 0
072 H001500 0
072 I001500 0
072 J001500 20
072 K001500 0
072 L001500 0
072 M001500 0
072 N001500 3
072 O001500 0
072 P001500 0
072 Q001500 0
072 R001500 9
072 S001500 2
072 T001500 0
072 U001500 2
072 V001500 0
072 W001500 0
<PAGE> PAGE 24
072 X001500 47
072 Y001500 47
072 Z001500 36
072AA001500 14
072BB001500 0
072CC011500 361
072CC021500 0
072DD011500 27
072DD021500 0
072EE001500 0
073 A011500 0.0000
073 A021500 0.0000
073 B001500 0.0000
073 C001500 0.0000
074 A001500 287
074 B001500 0
074 C001500 0
074 D001500 0
074 E001500 0
074 F001500 5210
074 G001500 0
074 H001500 0
074 I001500 0
074 J001500 0
074 K001500 0
074 L001500 35
074 M001500 0
074 N001500 5532
074 O001500 0
074 P001500 0
074 Q001500 0
074 R011500 0
074 R021500 0
074 R031500 0
074 R041500 11
074 S001500 0
074 T001500 5521
074 U011500 209
074 U021500 0
074 V011500 26.47
074 V021500 0.00
074 W001500 0.0000
074 X001500 72
074 Y001500 0
075 A001500 0
075 B001500 4308
076 001500 0.00
SIGNATURE KEVIN CONNERTY
TITLE ADMINISTRATOR
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish Massachusetts Intermediate
Tax Exempt Bond Fund form N-SAR for the period ended
March 31, 1997 and is qualified in its entirety
by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 08
<NAME> Standish Mass. Int. Tax Exempt Bond Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 34,212,730
<INVESTMENTS-AT-VALUE> 34,352,456
<RECEIVABLES> 547,938
<ASSETS-OTHER> 1,667
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 34,902,061
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 125,298
<TOTAL-LIABILITIES> 125,298
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 35,164,775
<SHARES-COMMON-STOCK> 1,689,909
<SHARES-COMMON-PRIOR> 1,557,795
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (492,508)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 104,496
<NET-ASSETS> 34,776,763
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 905,875
<OTHER-INCOME> 0
<EXPENSES-NET> 110,156
<NET-INVESTMENT-INCOME> 795,719
<REALIZED-GAINS-CURRENT> 95,248
<APPREC-INCREASE-CURRENT> (207,439)
<NET-CHANGE-FROM-OPS> 683,528
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 795,719
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 356,970
<NUMBER-OF-SHARES-REDEEMED> 239,650
<SHARES-REINVESTED> 14,794
<NET-CHANGE-IN-ASSETS> 2,640,680
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (587,756)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 67,641
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 124,071
<AVERAGE-NET-ASSETS> 33,987,069
<PER-SHARE-NAV-BEGIN> 20.63
<PER-SHARE-NII> 0.49
<PER-SHARE-GAIN-APPREC> (0.05)
<PER-SHARE-DIVIDEND> (0.49)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.58
<EXPENSE-RATIO> 0.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish Intermediate Tax Exempt Bond
Fund form N-SAR for the period ended March 31,
1997 and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 09
<NAME> Standish Intermediate Tax Exempt Bond Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 44,690,791
<INVESTMENTS-AT-VALUE> 45,164,066
<RECEIVABLES> 883,905
<ASSETS-OTHER> 2,241
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 46,050,212
<PAYABLE-FOR-SECURITIES> 1,034,120
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,002,562
<TOTAL-LIABILITIES> 3,036,682
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 42,472,874
<SHARES-COMMON-STOCK> 2,041,222
<SHARES-COMMON-PRIOR> 1,649,638
<ACCUMULATED-NII-CURRENT> 554
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 79,485
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 460,617
<NET-ASSETS> 43,013,530
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,061,775
<OTHER-INCOME> 0
<EXPENSES-NET> 127,331
<NET-INVESTMENT-INCOME> 934,444
<REALIZED-GAINS-CURRENT> 103,620
<APPREC-INCREASE-CURRENT> (183,589)
<NET-CHANGE-FROM-OPS> 854,475
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 933,890
<DISTRIBUTIONS-OF-GAINS> 42,882
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 574,209
<NUMBER-OF-SHARES-REDEEMED> 201,048
<SHARES-REINVESTED> 18,423
<NET-CHANGE-IN-ASSETS> 8,170,818
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 18,747
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 78,219
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 149,249
<AVERAGE-NET-ASSETS> 39,287,609
<PER-SHARE-NAV-BEGIN> 21.12
<PER-SHARE-NII> 0.51
<PER-SHARE-GAIN-APPREC> (0.05)
<PER-SHARE-DIVIDEND> (0.51)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 21.07
<EXPENSE-RATIO> 0.65
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish Small Cap Tax-Sensitive
Equity Fund form N-SAR for the period ended
March 31, 1997 and is qualified in its entirety
by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 14
<NAME> Standish Small Cap Tax-Sensitive Equity Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 13,309,479
<INVESTMENTS-AT-VALUE> 13,047,259
<RECEIVABLES> 120,309
<ASSETS-OTHER> 1,664,529
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,832,097
<PAYABLE-FOR-SECURITIES> 813,469
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,528
<TOTAL-LIABILITIES> 825,997
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 15,030,998
<SHARES-COMMON-STOCK> 646,248
<SHARES-COMMON-PRIOR> 292,564
<ACCUMULATED-NII-CURRENT> 11,839
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (774,517)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (262,220)
<NET-ASSETS> 14,006,100
<DIVIDEND-INCOME> 6,497
<INTEREST-INCOME> 11,826
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 18,323
<REALIZED-GAINS-CURRENT> (485,477)
<APPREC-INCREASE-CURRENT> (621,236)
<NET-CHANGE-FROM-OPS> (1,088,390)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11,664
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 376,099
<NUMBER-OF-SHARES-REDEEMED> 22,802
<SHARES-REINVESTED> 387
<NET-CHANGE-IN-ASSETS> 7,110,233
<ACCUMULATED-NII-PRIOR> 5,180
<ACCUMULATED-GAINS-PRIOR> (289,040)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 31,370
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 79,069
<AVERAGE-NET-ASSETS> 10,486,966
<PER-SHARE-NAV-BEGIN> 23.57
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> (1.90)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 21.67
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish Tax-Sensitive Equity Fund
form N-SAR for the period ended March 31, 1997
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 15
<NAME> Standish Tax-Sensitive Equity Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 4,535,154
<INVESTMENTS-AT-VALUE> 5,209,736
<RECEIVABLES> 21,598
<ASSETS-OTHER> 300,989
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,532,323
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,633
<TOTAL-LIABILITIES> 11,633
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,832,795
<SHARES-COMMON-STOCK> 208,539
<SHARES-COMMON-PRIOR> 120,446
<ACCUMULATED-NII-CURRENT> 21,502
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (8,189)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 674,582
<NET-ASSETS> 5,520,690
<DIVIDEND-INCOME> 31,907
<INTEREST-INCOME> 4,095
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 36,002
<REALIZED-GAINS-CURRENT> 13,687
<APPREC-INCREASE-CURRENT> 361,308
<NET-CHANGE-FROM-OPS> 410,997
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 27,085
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 87,365
<NUMBER-OF-SHARES-REDEEMED> 179
<SHARES-REINVESTED> 907
<NET-CHANGE-IN-ASSETS> 2,677,748
<ACCUMULATED-NII-PRIOR> 12,585
<ACCUMULATED-GAINS-PRIOR> (21,876)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 10,742
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 46,948
<AVERAGE-NET-ASSETS> 4,308,491
<PER-SHARE-NAV-BEGIN> 23.60
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 2.87
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 26.47
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
