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<PAGE> PAGE 2
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<PAGE> PAGE 7
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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
015 A001001 INVESTORS BANK & TRUST CO.
015 B001001 C
015 C011001 BOSTON
015 C021001 MA
015 C031001 02111
015 E041001 X
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045 001000 N
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<PAGE> PAGE 22
048 G021000 0.000
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058 A001000 N
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060 A001000 Y
060 B001000 Y
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062 M001000 0.0
062 N001000 0.0
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
066 A001000 N
067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 Y
070 A021000 N
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
070 E011000 Y
070 E021000 N
070 F011000 Y
070 F021000 N
070 G011000 Y
070 G021000 N
<PAGE> PAGE 23
070 H011000 Y
070 H021000 N
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 N
070 L011000 Y
070 L021000 N
070 M011000 Y
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 N
070 O021000 N
070 P011000 N
070 P021000 N
070 Q011000 N
070 Q021000 N
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070 R021000 N
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<PAGE> PAGE 24
072 Z001000 10001
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015 A001201 INVESTORS BANK & TRUST CO.
015 B001201 C
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<PAGE> PAGE 25
024 001200 Y
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<PAGE> PAGE 26
048 D021200 0.000
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054 A001200 Y
054 B001200 Y
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054 D001200 N
054 E001200 N
054 F001200 N
054 G001200 Y
054 H001200 Y
054 I001200 N
054 J001200 Y
054 K001200 N
054 L001200 Y
054 M001200 N
054 N001200 N
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<PAGE> PAGE 27
062 K001200 0.0
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062 N001200 27.6
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062 P001200 27.2
062 Q001200 31.4
062 R001200 1.5
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063 B001200 18.9
064 A001200 N
064 B001200 N
066 A001200 N
067 001200 N
068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 Y
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070 N011200 N
070 N021200 N
070 O011200 N
070 O021200 N
070 P011200 N
070 P021200 N
070 Q011200 N
070 Q021200 N
<PAGE> PAGE 28
070 R011200 Y
070 R021200 N
071 A001200 67461
071 B001200 59917
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<PAGE> PAGE 29
074 I001200 4
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074 Y001200 18964
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015 A001301 INVESTORS BANK & TRUST CO.
015 B001301 C
015 C011301 BOSTON
015 C021301 MA
015 C031301 02111
015 E011301 X
024 001300 Y
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<PAGE> PAGE 30
028 A041300 177
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045 001300 Y
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047 001300 Y
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<PAGE> PAGE 31
048 K021300 0.000
049 001300 N
050 001300 N
051 001300 N
052 001300 N
053 A001300 Y
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054 A001300 Y
054 B001300 Y
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054 D001300 N
054 E001300 N
054 F001300 N
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054 H001300 Y
054 I001300 N
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054 K001300 N
054 L001300 Y
054 M001300 N
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064 A001300 N
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066 A001300 N
067 001300 N
<PAGE> PAGE 32
068 A001300 N
068 B001300 N
069 001300 N
070 A011300 Y
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070 P011300 N
070 P021300 N
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070 R011300 N
070 R021300 N
071 A001300 30506
071 B001300 7821
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<PAGE> PAGE 33
072 I001300 5
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<PAGE> PAGE 34
074 T001300 36446
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015 A001701 INVESTORS BANK & TRUST CO.
015 B001701 C
015 C011701 BOSTON
015 C021701 MA
015 C031701 02111
015 E041701 X
024 001700 N
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045 001700 N
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<PAGE> PAGE 35
048 B011700 0
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058 A001700 N
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066 A001700 N
067 001700 N
068 A001700 N
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070 A011700 Y
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<PAGE> PAGE 36
070 B021700 N
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070 K011700 Y
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<PAGE> PAGE 37
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<PAGE> PAGE 38
074 X001700 24
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015 A001901 INVESTORS BANK & TRUST CO.
015 B001901 C
015 C011901 BOSTON
015 C021901 MA
015 C031901 02111
015 E011901 X
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<PAGE> PAGE 39
048 E011900 0
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066 A001900 N
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<PAGE> PAGE 40
070 E021900 N
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072 T001900 0
<PAGE> PAGE 41
072 U001900 0
072 V001900 0
072 W001900 1
072 X001900 4
072 Y001900 4
072 Z001900 0
072AA001900 0
072BB001900 0
072CC011900 0
072CC021900 0
072DD011900 0
072DD021900 0
072EE001900 0
073 A011900 0.0000
073 A021900 0.0000
073 B001900 0.0000
073 C001900 0.0000
074 A001900 0
074 B001900 0
074 C001900 0
074 D001900 0
074 E001900 0
074 F001900 0
074 G001900 0
074 H001900 0
074 I001900 5
074 J001900 0
074 K001900 0
074 L001900 0
074 M001900 0
074 N001900 5
074 O001900 0
074 P001900 0
074 Q001900 0
074 R011900 0
074 R021900 0
074 R031900 0
074 R041900 4
074 S001900 0
074 T001900 1
074 U011900 0
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074 V011900 20.14
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074 X001900 1
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075 A001900 0
075 B001900 1
076 001900 0.00
<PAGE> PAGE 42
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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> Standish Fixed Income Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 3,501,851,201
<RECEIVABLES> 5,976,720
<ASSETS-OTHER> 2,386
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,507,830,307
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 36,099,349
<TOTAL-LIABILITIES> 36,099,349
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,387,153,835
<SHARES-COMMON-STOCK> 165,874,184
<SHARES-COMMON-PRIOR> 158,068,105
<ACCUMULATED-NII-CURRENT> 10,556,838
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 28,559,252
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 45,461,033
<NET-ASSETS> 3,471,730,958
<DIVIDEND-INCOME> 3,209,013
<INTEREST-INCOME> 114,221,547
<OTHER-INCOME> (5,781,795)
<EXPENSES-NET> 310,884
<NET-INVESTMENT-INCOME> 111,337,881
<REALIZED-GAINS-CURRENT> 30,386,428
<APPREC-INCREASE-CURRENT> (14,122,386)
<NET-CHANGE-FROM-OPS> 127,601,923
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 98,359,730
<DISTRIBUTIONS-OF-GAINS> 9,428,054
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,812,825
<NUMBER-OF-SHARES-REDEEMED> 15,242,506
<SHARES-REINVESTED> 4,235,760
<NET-CHANGE-IN-ASSETS> 183,413,315
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 7,600,878
<OVERDISTRIB-NII-PRIOR> 2,421,313
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 310,884
<AVERAGE-NET-ASSETS> 3,427,012,463
<PER-SHARE-NAV-BEGIN> 20.80
<PER-SHARE-NII> 0.68
<PER-SHARE-GAIN-APPREC> 0.11
<PER-SHARE-DIVIDEND> (0.60)
<PER-SHARE-DISTRIBUTIONS> (0.06)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.93
<EXPENSE-RATIO> 0.36
<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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 19
<NAME> Standish Fixed Income Asset Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 5,005
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 5,005
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,817
<TOTAL-LIABILITIES> 3,817
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,181
<SHARES-COMMON-STOCK> 59
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 5
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2
<NET-ASSETS> 1,188
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 5
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 2
<NET-CHANGE-FROM-OPS> 7
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 59
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 7
<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> 3,818
<AVERAGE-NET-ASSETS> 775
<PER-SHARE-NAV-BEGIN> 20.00
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.14
<EXPENSE-RATIO> 0.61
<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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 10
<NAME> Standish Global Fixed Income Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 390,733,465
<RECEIVABLES> 609,206
<ASSETS-OTHER> 1,913
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 391,344,584
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,150,648
<TOTAL-LIABILITIES> 2,150,648
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 380,909,325
<SHARES-COMMON-STOCK> 18,886,136
<SHARES-COMMON-PRIOR> 12,540,458
<ACCUMULATED-NII-CURRENT> 1,137,743
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,343,205
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,803,663
<NET-ASSETS> 389,193,936
<DIVIDEND-INCOME> 51,126
<INTEREST-INCOME> 10,809,196
<OTHER-INCOME> (775,392)
<EXPENSES-NET> 84,280
<NET-INVESTMENT-INCOME> 10,000,650
<REALIZED-GAINS-CURRENT> 3,615,636
<APPREC-INCREASE-CURRENT> (1,166,145)
<NET-CHANGE-FROM-OPS> 12,450,141
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8,195,011
<DISTRIBUTIONS-OF-GAINS> 1,808,709
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6,178,986
<NUMBER-OF-SHARES-REDEEMED> 178,468
<SHARES-REINVESTED> 345,160
<NET-CHANGE-IN-ASSETS> 133,431,513
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1,536,278
<OVERDISTRIB-NII-PRIOR> (667,896)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 84,280
<AVERAGE-NET-ASSETS> 322,420,698
<PER-SHARE-NAV-BEGIN> 20.39
<PER-SHARE-NII> 0.61
<PER-SHARE-GAIN-APPREC> 0.21
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> (0.10)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.61
<EXPENSE-RATIO> 0.57
<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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 3
<NAME> Standish Short Term Asset Reserve Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 276,360,514
<RECEIVABLES> 60,115
<ASSETS-OTHER> 701
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 276,421,330
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 308,925
<TOTAL-LIABILITIES> 308,925
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 287,430,654
<SHARES-COMMON-STOCK> 14,171,354
<SHARES-COMMON-PRIOR> 12,616,483
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (159,334)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (11,386,676)
<ACCUM-APPREC-OR-DEPREC> 227,761
<NET-ASSETS> 276,112,405
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8,456,308
<OTHER-INCOME> (431,625)
<EXPENSES-NET> 60,626
<NET-INVESTMENT-INCOME> 7,964,057
<REALIZED-GAINS-CURRENT> (68,970)
<APPREC-INCREASE-CURRENT> 113,864
<NET-CHANGE-FROM-OPS> 8,008,951
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7,964,062
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,977,339
<NUMBER-OF-SHARES-REDEEMED> 4,731,334
<SHARES-REINVESTED> 308,866
<NET-CHANGE-IN-ASSETS> 30,355,404
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (159,329)
<OVERDIST-NET-GAINS-PRIOR> (11,317,706)
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 60,626
<AVERAGE-NET-ASSETS> 274,160,262
<PER-SHARE-NAV-BEGIN> 19.48
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.09)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 19.48
<EXPENSE-RATIO> 0.36
<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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 4
<NAME> Standish Securitized Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 39,321,529
<INVESTMENTS-AT-VALUE> 40,229,660
<RECEIVABLES> 379,170
<ASSETS-OTHER> 3,549
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 40,612,379
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 483,317
<TOTAL-LIABILITIES> 483,317
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 40,483,835
<SHARES-COMMON-STOCK> 1,966,109
<SHARES-COMMON-PRIOR> 1,996,268
<ACCUMULATED-NII-CURRENT> 279,262
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,578,568)
<ACCUM-APPREC-OR-DEPREC> 944,533
<NET-ASSETS> 40,129,062
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,370,323
<OTHER-INCOME> 0
<EXPENSES-NET> 89,399
<NET-INVESTMENT-INCOME> 1,280,924
<REALIZED-GAINS-CURRENT> 307,793
<APPREC-INCREASE-CURRENT> 11,244
<NET-CHANGE-FROM-OPS> 1,599,961
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 980,324
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2,439
<NUMBER-OF-SHARES-REDEEMED> 38,245
<SHARES-REINVESTED> 5,647
<NET-CHANGE-IN-ASSETS> 4,290
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (21,338)
<OVERDIST-NET-GAINS-PRIOR> (1,886,361)
<GROSS-ADVISORY-FEES> 49,666
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 107,249
<AVERAGE-NET-ASSETS> 40,062,347
<PER-SHARE-NAV-BEGIN> 20.10
<PER-SHARE-NII> 0.65
<PER-SHARE-GAIN-APPREC> 0.16
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.41
<EXPENSE-RATIO> 0.45
<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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> Standish International Fixed Income Fund Ser
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 1,323,202,762
<INVESTMENTS-AT-VALUE> 1,291,448,589
<RECEIVABLES> 48,034,677
<ASSETS-OTHER> 62,221,800
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,401,705,066
<PAYABLE-FOR-SECURITIES> 30,160,924
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 22,713,300
<TOTAL-LIABILITIES> 52,874,224
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,309,950,558
<SHARES-COMMON-STOCK> 58,259,625
<SHARES-COMMON-PRIOR> 51,419,630
<ACCUMULATED-NII-CURRENT> 10,273,912
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 18,242,268
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,364,104
<NET-ASSETS> 1,348,830,842
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 43,250,550
<OTHER-INCOME> 331,980
<EXPENSES-NET> 3,332,770
<NET-INVESTMENT-INCOME> 40,249,760
<REALIZED-GAINS-CURRENT> 18,796,145
<APPREC-INCREASE-CURRENT> (3,869,839)
<NET-CHANGE-FROM-OPS> 55,176,066
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 28,419,237
<DISTRIBUTIONS-OF-GAINS> 8,235,370
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13,080,682
<NUMBER-OF-SHARES-REDEEMED> 7,503,293
<SHARES-REINVESTED> 1,262,606
<NET-CHANGE-IN-ASSETS> 176,135,781
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 7,681,493
<OVERDISTRIB-NII-PRIOR> (1,556,611)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,612,714
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,332,770
<AVERAGE-NET-ASSETS> 1,318,172,815
<PER-SHARE-NAV-BEGIN> 22.81
<PER-SHARE-NII> 0.71
<PER-SHARE-GAIN-APPREC> 0.27
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> (0.14)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 23.15
<EXPENSE-RATIO> 0.51
<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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 12
<NAME> Standish Fixed Income Fund Series II Fund Se
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 82,521,659
<INVESTMENTS-AT-VALUE> 83,280,329
<RECEIVABLES> 841,088
<ASSETS-OTHER> 10,136
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 84,131,553
<PAYABLE-FOR-SECURITIES> 3,760,937
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 409,900
<TOTAL-LIABILITIES> 4,170,837
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 78,216,652
<SHARES-COMMON-STOCK> 4,136,406
<SHARES-COMMON-PRIOR> 3,890,376
<ACCUMULATED-NII-CURRENT> 411,280
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 547,796
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 784,988
<NET-ASSETS> 79,960,716
<DIVIDEND-INCOME> 12,557
<INTEREST-INCOME> 2,430,601
<OTHER-INCOME> 0
<EXPENSES-NET> 145,294
<NET-INVESTMENT-INCOME> 2,297,864
<REALIZED-GAINS-CURRENT> 566,951
<APPREC-INCREASE-CURRENT> (267,144)
<NET-CHANGE-FROM-OPS> 2,597,671
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,891,183
<DISTRIBUTIONS-OF-GAINS> 87,332
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 840,405
<NUMBER-OF-SHARES-REDEEMED> 665,957
<SHARES-REINVESTED> 71,582
<NET-CHANGE-IN-ASSETS> 5,380,481
<ACCUMULATED-NII-PRIOR> 4,599
<ACCUMULATED-GAINS-PRIOR> 68,177
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 145,294
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 223,396
<AVERAGE-NET-ASSETS> 73,278,804
<PER-SHARE-NAV-BEGIN> 19.17
<PER-SHARE-NII> 0.60
<PER-SHARE-GAIN-APPREC> 0.08
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 19.33
<EXPENSE-RATIO> 0.40
<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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 13
<NAME> Standish Controlled Maturity Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 36,939,713
<INVESTMENTS-AT-VALUE> 36,996,014
<RECEIVABLES> 331,319
<ASSETS-OTHER> 18,847
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 37,346,180
<PAYABLE-FOR-SECURITIES> 758,542
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 141,231
<TOTAL-LIABILITIES> 899,773
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 36,535,999
<SHARES-COMMON-STOCK> 1,818,724
<SHARES-COMMON-PRIOR> 697,521
<ACCUMULATED-NII-CURRENT> 11,516
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (158,219)
<ACCUM-APPREC-OR-DEPREC> 57,111
<NET-ASSETS> 36,446,407
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 673,839
<OTHER-INCOME> 0
<EXPENSES-NET> 30,507
<NET-INVESTMENT-INCOME> 643,332
<REALIZED-GAINS-CURRENT> (49,110)
<APPREC-INCREASE-CURRENT> 43,584
<NET-CHANGE-FROM-OPS> 637,806
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 646,809
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,137,217
<NUMBER-OF-SHARES-REDEEMED> 39,578
<SHARES-REINVESTED> 23,564
<NET-CHANGE-IN-ASSETS> 22,530,412
<ACCUMULATED-NII-PRIOR> 14,993
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (109,109)
<GROSS-ADVISORY-FEES> 30,358
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 89,453
<AVERAGE-NET-ASSETS> 20,640,543
<PER-SHARE-NAV-BEGIN> 19.95
<PER-SHARE-NII> 0.63
<PER-SHARE-GAIN-APPREC> (0.02)
<PER-SHARE-DIVIDEND> (0.52)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.04
<EXPENSE-RATIO> 0.30
<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 June 30, 1998
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 17
<NAME> Standish Diversified Income Fund Series
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> JUN-30-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 50,680,111
<RECEIVABLES> 1,790
<ASSETS-OTHER> 14,485
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50,696,386
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 433,120
<TOTAL-LIABILITIES> 433,120
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 50,686,252
<SHARES-COMMON-STOCK> 2,439,373
<SHARES-COMMON-PRIOR> 1,336,114
<ACCUMULATED-NII-CURRENT> 313,038
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 317,650
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,053,674)
<NET-ASSETS> 50,263,266
<DIVIDEND-INCOME> 61,605
<INTEREST-INCOME> 1,546,002
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 1,607,607
<REALIZED-GAINS-CURRENT> 312,926
<APPREC-INCREASE-CURRENT> (675,750)
<NET-CHANGE-FROM-OPS> 1,244,783
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,358,601
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,085,214
<NUMBER-OF-SHARES-REDEEMED> 12,104
<SHARES-REINVESTED> 30,149
<NET-CHANGE-IN-ASSETS> 22,865,602
<ACCUMULATED-NII-PRIOR> 64,032
<ACCUMULATED-GAINS-PRIOR> 4,724
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 26,993
<AVERAGE-NET-ASSETS> 40,924,193
<PER-SHARE-NAV-BEGIN> 20.51
<PER-SHARE-NII> 0.82
<PER-SHARE-GAIN-APPREC> (0.43)
<PER-SHARE-DIVIDEND> (0.30)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 20.60
<EXPENSE-RATIO> 0.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
