<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 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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<PAGE> PAGE 20
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<PAGE> PAGE 21
062 O000800 98.0
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064 A000800 Y
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066 A000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
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070 A020800 Y
070 B010800 Y
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070 D020800 N
070 E010800 Y
070 E020800 Y
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070 F020800 N
070 G010800 Y
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070 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 N
070 L010800 N
070 L020800 N
070 M010800 N
070 M020800 N
070 N010800 N
070 N020800 N
070 O010800 N
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
071 A000800 7276
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<PAGE> PAGE 22
071 C000800 42946
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<PAGE> PAGE 23
074 M000800 0
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015 A000901 INVESTORS BANK & TRUST CO.
015 B000901 C
015 C010901 BOSTON
015 C020901 MA
015 C030901 02111
015 E010901 X
024 000900 N
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<PAGE> PAGE 24
028 F040900 2828
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048 I010900 0
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050 000900 N
051 000900 N
052 000900 N
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054 A000900 Y
054 B000900 N
054 C000900 N
054 D000900 N
054 E000900 N
054 F000900 N
054 G000900 Y
054 H000900 Y
054 I000900 N
054 J000900 Y
054 K000900 Y
054 L000900 N
054 M000900 Y
<PAGE> PAGE 25
054 N000900 Y
054 O000900 N
058 A000900 N
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064 A000900 Y
064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 Y
070 B010900 Y
070 B020900 N
070 C010900 Y
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070 D010900 Y
070 D020900 N
070 E010900 Y
070 E020900 Y
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
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<PAGE> PAGE 26
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
070 O010900 N
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
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<PAGE> PAGE 27
072CC010900 324
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015 A001401 INVESTORS BANK & TRUST CO.
015 B001401 C
015 C011401 BOSTON
015 C021401 MA
015 C031401 02111
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024 001400 N
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<PAGE> PAGE 28
028 A031400 0
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<PAGE> PAGE 29
048 K011400 0
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050 001400 N
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054 K001400 Y
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066 A001400 Y
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<PAGE> PAGE 30
066 F001400 N
066 G001400 N
067 001400 N
068 A001400 N
068 B001400 N
069 001400 N
070 A011400 Y
070 A021400 N
070 B011400 Y
070 B021400 N
070 C011400 Y
070 C021400 N
070 D011400 Y
070 D021400 N
070 E011400 Y
070 E021400 N
070 F011400 Y
070 F021400 N
070 G011400 Y
070 G021400 N
070 H011400 Y
070 H021400 N
070 I011400 N
070 I021400 N
070 J011400 Y
070 J021400 N
070 K011400 Y
070 K021400 Y
070 L011400 Y
070 L021400 N
070 M011400 Y
070 M021400 N
070 N011400 N
070 N021400 N
070 O011400 N
070 O021400 N
070 P011400 N
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 Y
070 R021400 N
071 A001400 41106
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<PAGE> PAGE 31
072 F001400 116
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<PAGE> PAGE 32
074 R031400 0
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015 A001501 INVESTORS BANK & TRUST CO.
015 B001501 C
015 C011501 BOSTON
015 C021501 MA
015 C031501 02111
015 E011501 X
024 001500 Y
025 A001501 CHASE MANHATTEN CORP.
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<PAGE> PAGE 33
028 E011500 2086
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<PAGE> PAGE 34
054 G001500 Y
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066 A001500 Y
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<PAGE> PAGE 35
070 E011500 Y
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<PAGE> PAGE 36
072 T001500 0
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<PAGE> PAGE 37
015 A001601 INVESTORS BANK & TRUST CO.
015 B001601 C
015 C011601 BOSTON
015 C021601 MA
015 C031601 02111
015 E011601 X
024 001600 N
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<PAGE> PAGE 38
048 G021600 0.000
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<PAGE> PAGE 39
070 H011600 Y
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<PAGE> PAGE 40
072 Z001600 18
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015 A001801 INVESTORS BANK & TRUST CO.
015 B001801 C
015 C011801 BOSTON
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015 C031801 02111
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<PAGE> PAGE 41
024 001800 N
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028 D011800 6
028 D021800 0
028 D031800 0
028 D041800 0
028 E011800 4
028 E021800 0
028 E031800 0
028 E041800 0
028 F011800 17
028 F021800 2
028 F031800 0
028 F041800 0
028 G011800 547
028 G021800 4
028 G031800 0
028 G041800 0
028 H001800 0
045 001800 N
048 001800 0.000
048 A011800 0
048 A021800 0.000
048 B011800 0
048 B021800 0.000
048 C011800 0
048 C021800 0.000
048 D011800 0
048 D021800 0.000
048 E011800 0
048 E021800 0.000
048 F011800 0
048 F021800 0.000
048 G011800 0
048 G021800 0.000
048 H011800 0
048 H021800 0.000
048 I011800 0
048 I021800 0.000
048 J011800 0
<PAGE> PAGE 42
048 J021800 0.000
048 K011800 0
048 K021800 0.000
058 A001800 N
059 001800 Y
060 A001800 Y
060 B001800 Y
061 001800 100000
062 A001800 N
062 B001800 0.0
062 C001800 0.0
062 D001800 0.0
062 E001800 0.0
062 F001800 0.0
062 G001800 0.0
062 H001800 0.0
062 I001800 0.0
062 J001800 0.0
062 K001800 0.0
062 L001800 0.0
062 M001800 0.0
062 N001800 0.0
062 O001800 0.0
062 P001800 0.0
062 Q001800 0.0
062 R001800 0.0
066 A001800 N
067 001800 N
068 A001800 N
068 B001800 N
069 001800 N
070 A011800 Y
070 A021800 Y
070 B011800 Y
070 B021800 N
070 C011800 Y
070 C021800 N
070 D011800 Y
070 D021800 N
070 E011800 Y
070 E021800 N
070 F011800 Y
070 F021800 Y
070 G011800 Y
070 G021800 N
070 H011800 Y
070 H021800 N
070 I011800 N
070 I021800 N
070 J011800 Y
070 J021800 N
<PAGE> PAGE 43
070 K011800 Y
070 K021800 N
070 L011800 Y
070 L021800 Y
070 M011800 Y
070 M021800 N
070 N011800 N
070 N021800 N
070 O011800 N
070 O021800 N
070 P011800 N
070 P021800 N
070 Q011800 N
070 Q021800 N
070 R011800 Y
070 R021800 N
071 A001800 0
071 B001800 0
071 C001800 0
071 D001800 0
072 A001800 6
072 B001800 1
072 C001800 3
072 D001800 0
072 E001800 0
072 F001800 0
072 G001800 1
072 H001800 0
072 I001800 0
072 J001800 0
072 K001800 0
072 L001800 0
072 M001800 2
072 N001800 0
072 O001800 0
072 P001800 0
072 Q001800 0
072 R001800 1
072 S001800 5
072 T001800 0
072 U001800 0
072 V001800 0
072 W001800 7
072 X001800 16
072 Y001800 16
072 Z001800 4
072AA001800 46
072BB001800 0
072CC011800 9
072CC021800 0
072DD011800 4
<PAGE> PAGE 44
072DD021800 0
072EE001800 0
073 A011800 0.0600
073 A021800 0.0000
073 B001800 0.0000
073 C001800 0.0000
074 A001800 0
074 B001800 0
074 C001800 0
074 D001800 0
074 E001800 0
074 F001800 0
074 G001800 0
074 H001800 0
074 I001800 605
074 J001800 0
074 K001800 0
074 L001800 5
074 M001800 0
074 N001800 610
074 O001800 0
074 P001800 0
074 Q001800 0
074 R011800 0
074 R021800 0
074 R031800 0
074 R041800 5
074 S001800 0
074 T001800 605
074 U011800 28
074 U021800 0
074 V011800 22.01
074 V021800 0.00
074 W001800 0.0000
074 X001800 1
074 Y001800 0
075 A001800 0
075 B001800 506
076 001800 0.00
SIGNATURE KEVIN CONNERTY, INVESTORS BANK & TRUST
TITLE DIRECTOR
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 2
<NAME> Standish International Equity Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 36,236,708
<INVESTMENTS-AT-VALUE> 39,300,131
<RECEIVABLES> 3,734,753
<ASSETS-OTHER> 375,575
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 43,410,459
<PAYABLE-FOR-SECURITIES> 2,572,098
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 48,500
<TOTAL-LIABILITIES> 2,620,598
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 37,379,879
<SHARES-COMMON-STOCK> 1,771,071
<SHARES-COMMON-PRIOR> 2,100,374
<ACCUMULATED-NII-CURRENT> 112,892
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 225,009
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,072,081
<NET-ASSETS> 40,789,861
<DIVIDEND-INCOME> 333,920
<INTEREST-INCOME> 34,328
<OTHER-INCOME> 0
<EXPENSES-NET> 212,470
<NET-INVESTMENT-INCOME> 155,778
<REALIZED-GAINS-CURRENT> 299,462
<APPREC-INCREASE-CURRENT> 2,542,986
<NET-CHANGE-FROM-OPS> 2,998,226
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 246,135
<DISTRIBUTIONS-OF-GAINS> 4,215,438
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 93,602
<NUMBER-OF-SHARES-REDEEMED> 646,700
<SHARES-REINVESTED> 223,795
<NET-CHANGE-IN-ASSETS> (8,707,476)
<ACCUMULATED-NII-PRIOR> 203,249
<ACCUMULATED-GAINS-PRIOR> 4,140,985
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 169,976
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 299,598
<AVERAGE-NET-ASSETS> 42,561,033
<PER-SHARE-NAV-BEGIN> 23.57
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 1.73
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.13)
<RETURNS-OF-CAPITAL> (2.24)
<PER-SHARE-NAV-END> 23.03
<EXPENSE-RATIO> 1.00
<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, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> Standish Small Capitalization Equity Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 253,459,484
<RECEIVABLES> 58,705
<ASSETS-OTHER> 13,382
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 253,531,571
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19,332,488
<TOTAL-LIABILITIES> 19,332,488
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 171,080,297
<SHARES-COMMON-STOCK> 4,004,281
<SHARES-COMMON-PRIOR> 4,125,823
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (711,854)
<ACCUMULATED-NET-GAINS> 19,282,679
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 44,547,961
<NET-ASSETS> 234,199,083
<DIVIDEND-INCOME> 73,287
<INTEREST-INCOME> 133,079
<OTHER-INCOME> (918,220)
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> (711,854)
<REALIZED-GAINS-CURRENT> 27,775,430
<APPREC-INCREASE-CURRENT> (23,851,624)
<NET-CHANGE-FROM-OPS> 3,211,952
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 32,065,343
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 176,438
<NUMBER-OF-SHARES-REDEEMED> 890,318
<SHARES-REINVESTED> 592,338
<NET-CHANGE-IN-ASSETS> (40,169,083)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 23,572,592
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 49,194
<AVERAGE-NET-ASSETS> 248,246,969
<PER-SHARE-NAV-BEGIN> 66.50
<PER-SHARE-NII> (0.18)
<PER-SHARE-GAIN-APPREC> 0.05
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> (7.88)
<PER-SHARE-NAV-END> 58.49
<EXPENSE-RATIO> 0.74
<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, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 8
<NAME> Standish Mass. Int. Tax Exempt Bond Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 45,775,375
<INVESTMENTS-AT-VALUE> 47,081,599
<RECEIVABLES> 696,297
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 47,777,896
<PAYABLE-FOR-SECURITIES> 1,874,824
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 99,863
<TOTAL-LIABILITIES> 1,974,687
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 44,805,002
<SHARES-COMMON-STOCK> 2,141,593
<SHARES-COMMON-PRIOR> 1,812,636
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (308,017)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,306,224
<NET-ASSETS> 45,803,209
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,053,812
<OTHER-INCOME> 0
<EXPENSES-NET> 133,801
<NET-INVESTMENT-INCOME> 920,011
<REALIZED-GAINS-CURRENT> 106,814
<APPREC-INCREASE-CURRENT> 270,003
<NET-CHANGE-FROM-OPS> 1,296,828
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 920,011
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 467,710
<NUMBER-OF-SHARES-REDEEMED> 156,272
<SHARES-REINVESTED> 17,519
<NET-CHANGE-IN-ASSETS> 7,402,581
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (414,831)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 82,340
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 153,648
<AVERAGE-NET-ASSETS> 41,324,283
<PER-SHARE-NAV-BEGIN> 21.18
<PER-SHARE-NII> 0.48
<PER-SHARE-GAIN-APPREC> 0.21
<PER-SHARE-DIVIDEND> (0.48)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 21.39
<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, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 9
<NAME> Standish Intermediate Tax Exempt Bond Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 72,017,498
<INVESTMENTS-AT-VALUE> 74,288,010
<RECEIVABLES> 1,109,188
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 75,397,198
<PAYABLE-FOR-SECURITIES> 3,475,130
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 523,294
<TOTAL-LIABILITIES> 3,998,424
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 69,056,646
<SHARES-COMMON-STOCK> 3,260,268
<SHARES-COMMON-PRIOR> 2,420,468
<ACCUMULATED-NII-CURRENT> 8,268
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 63,348
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,270,512
<NET-ASSETS> 71,398,774
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,497,216
<OTHER-INCOME> 0
<EXPENSES-NET> 192,742
<NET-INVESTMENT-INCOME> 1,304,474
<REALIZED-GAINS-CURRENT> 72,303
<APPREC-INCREASE-CURRENT> 323,650
<NET-CHANGE-FROM-OPS> 1,700,427
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,304,474
<DISTRIBUTIONS-OF-GAINS> 151,703
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,166,158
<NUMBER-OF-SHARES-REDEEMED> 358,850
<SHARES-REINVESTED> 32,492
<NET-CHANGE-IN-ASSETS> 18,675,482
<ACCUMULATED-NII-PRIOR> 8,268
<ACCUMULATED-GAINS-PRIOR> 142,748
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 118,611
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 205,073
<AVERAGE-NET-ASSETS> 59,572,766
<PER-SHARE-NAV-BEGIN> 21.78
<PER-SHARE-NII> 0.48
<PER-SHARE-GAIN-APPREC> 0.18
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.48)
<RETURNS-OF-CAPITAL> (0.06)
<PER-SHARE-NAV-END> 21.90
<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, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 7
<NAME> Standish Equity Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 230,329,787
<RECEIVABLES> 334,224
<ASSETS-OTHER> 9,717
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 230,673,728
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 97,940
<TOTAL-LIABILITIES> 97,940
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 174,939,432
<SHARES-COMMON-STOCK> 4,893,337
<SHARES-COMMON-PRIOR> 3,486,603
<ACCUMULATED-NII-CURRENT> 152,276
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 13,986,058
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 41,498,022
<NET-ASSETS> 230,575,788
<DIVIDEND-INCOME> 1,127,797
<INTEREST-INCOME> 276,664
<OTHER-INCOME> (631,678)
<EXPENSES-NET> 18,961
<NET-INVESTMENT-INCOME> 753,822
<REALIZED-GAINS-CURRENT> 17,162,623
<APPREC-INCREASE-CURRENT> 7,464,175
<NET-CHANGE-FROM-OPS> 25,380,620
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 579,559
<DISTRIBUTIONS-OF-GAINS> 25,188,077
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,241,658
<NUMBER-OF-SHARES-REDEEMED> 429,627
<SHARES-REINVESTED> 594,703
<NET-CHANGE-IN-ASSETS> 60,405,992
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 22,011,512
<OVERDISTRIB-NII-PRIOR> 21,987
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 55,709
<AVERAGE-NET-ASSETS> 183,841,181
<PER-SHARE-NAV-BEGIN> 48.81
<PER-SHARE-NII> 0.16
<PER-SHARE-GAIN-APPREC> 5.32
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.13)
<RETURNS-OF-CAPITAL> (7.04)
<PER-SHARE-NAV-END> 47.12
<EXPENSE-RATIO> 0.71
<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, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 18
<NAME> Standish Equity Asset Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 604,598
<RECEIVABLES> 32
<ASSETS-OTHER> 5,604
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 610,234
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,841
<TOTAL-LIABILITIES> 4,841
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 550,605
<SHARES-COMMON-STOCK> 27,510
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (48)
<ACCUMULATED-NET-GAINS> 45,755
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,081
<NET-ASSETS> 605,393
<DIVIDEND-INCOME> 2,957
<INTEREST-INCOME> 721
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 3,678
<REALIZED-GAINS-CURRENT> 45,755
<APPREC-INCREASE-CURRENT> 9,081
<NET-CHANGE-FROM-OPS> 58,514
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,726)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 27,326
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 184
<NET-CHANGE-IN-ASSETS> 605,393
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 16,269
<AVERAGE-NET-ASSETS> 505,831
<PER-SHARE-NAV-BEGIN> 20.00
<PER-SHARE-NII> 0.15
<PER-SHARE-GAIN-APPREC> 1.92
<PER-SHARE-DIVIDEND> (0.06)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 22.01
<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, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 14
<NAME> StandishSmall Cap Tax-Sensitive Equity Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 42,566,206
<INVESTMENTS-AT-VALUE> 54,058,289
<RECEIVABLES> 288,385
<ASSETS-OTHER> 4,034,029
<OTHER-ITEMS-ASSETS> 10,417
<TOTAL-ASSETS> 58,391,120
<PAYABLE-FOR-SECURITIES> 2,163,565
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12,476
<TOTAL-LIABILITIES> 2,176,041
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 45,059,174
<SHARES-COMMON-STOCK> 1,682,282
<SHARES-COMMON-PRIOR> 1,004,501
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (92,222)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (243,956)
<ACCUM-APPREC-OR-DEPREC> 11,492,083
<NET-ASSETS> 56,215,079
<DIVIDEND-INCOME> 11,908
<INTEREST-INCOME> 41,370
<OTHER-INCOME> 0
<EXPENSES-NET> 145,495
<NET-INVESTMENT-INCOME> (92,217)
<REALIZED-GAINS-CURRENT> (238,763)
<APPREC-INCREASE-CURRENT> 3,007,389
<NET-CHANGE-FROM-OPS> 2,676,409
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7,582
<DISTRIBUTIONS-OF-GAINS> 170,781
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 710,082
<NUMBER-OF-SHARES-REDEEMED> 38,072
<SHARES-REINVESTED> 5,771
<NET-CHANGE-IN-ASSETS> 23,454,562
<ACCUMULATED-NII-PRIOR> 7,577
<ACCUMULATED-GAINS-PRIOR> 165,588
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 116,406
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 199,415
<AVERAGE-NET-ASSETS> 39,034,346
<PER-SHARE-NAV-BEGIN> 32.61
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> 1.01
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.01)
<RETURNS-OF-CAPITAL> (0.14)
<PER-SHARE-NAV-END> 33.42
<EXPENSE-RATIO> 0.75
<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, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 15
<NAME> Standish Tax-Sensitive Equity Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 22,783,137
<INVESTMENTS-AT-VALUE> 29,569,875
<RECEIVABLES> 30,384
<ASSETS-OTHER> 303,681
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 29,903,940
<PAYABLE-FOR-SECURITIES> 168,750
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,259
<TOTAL-LIABILITIES> 172,009
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 22,827,761
<SHARES-COMMON-STOCK> 732,027
<SHARES-COMMON-PRIOR> 363,730
<ACCUMULATED-NII-CURRENT> 50,273
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 67,159
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6,786,738
<NET-ASSETS> 29,731,931
<DIVIDEND-INCOME> 104,914
<INTEREST-INCOME> 18,891
<OTHER-INCOME> 0
<EXPENSES-NET> 45,277
<NET-INVESTMENT-INCOME> 78,528
<REALIZED-GAINS-CURRENT> 188,170
<APPREC-INCREASE-CURRENT> 3,607,004
<NET-CHANGE-FROM-OPS> 3,873,702
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 52,664
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 392,660
<NUMBER-OF-SHARES-REDEEMED> 25,689
<SHARES-REINVESTED> 1,326
<NET-CHANGE-IN-ASSETS> 16,912,991
<ACCUMULATED-NII-PRIOR> 24,409
<ACCUMULATED-GAINS-PRIOR> 121,011
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 45,277
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 106,006
<AVERAGE-NET-ASSETS> 18,253,568
<PER-SHARE-NAV-BEGIN> 35.24
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> 5.38
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.13)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 40.62
<EXPENSE-RATIO> 0.50
<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, Ayer & Wood Investment Trust
form N-SAR for the period ended March 31, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 16
<NAME> Standish Small Capitalization Equity Fund II Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 11,480,804
<RECEIVABLES> 0
<ASSETS-OTHER> 1,439
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11,482,243
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 23,930
<TOTAL-LIABILITIES> 23,930
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 9,858,463
<SHARES-COMMON-STOCK> 398,735
<SHARES-COMMON-PRIOR> 216,818
<ACCUMULATED-NII-CURRENT> 12,368
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (54,579)
<ACCUM-APPREC-OR-DEPREC> 1,642,061
<NET-ASSETS> 11,458,313
<DIVIDEND-INCOME> 7,217
<INTEREST-INCOME> 10,982
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 18,199
<REALIZED-GAINS-CURRENT> 366,885
<APPREC-INCREASE-CURRENT> 474,522
<NET-CHANGE-FROM-OPS> 859,606
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 12,372
<DISTRIBUTIONS-OF-GAINS> 550,627
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 187,697
<NUMBER-OF-SHARES-REDEEMED> 29,252
<SHARES-REINVESTED> 23,472
<NET-CHANGE-IN-ASSETS> 5,144,755
<ACCUMULATED-NII-PRIOR> 6,541
<ACCUMULATED-GAINS-PRIOR> 129,163
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 28,909
<AVERAGE-NET-ASSETS> 8,792,082
<PER-SHARE-NAV-BEGIN> 29.12
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 1.39
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.04)
<RETURNS-OF-CAPITAL> (1.78)
<PER-SHARE-NAV-END> 28.74
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
