<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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<PAGE> PAGE 20
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<PAGE> PAGE 21
070 M010600 Y
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<PAGE> PAGE 22
073 B000600 0.0100
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015 A001001 INVESTORS BANK & TRUST CO.
015 B001001 C
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<PAGE> PAGE 23
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<PAGE> PAGE 24
062 C001000 0.0
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070 J021000 N
070 K011000 Y
070 K021000 Y
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070 M011000 Y
070 M021000 N
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<PAGE> PAGE 25
070 P011000 N
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<PAGE> PAGE 26
074 E001000 0
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015 A001201 INVESTORS BANK & TRUST CO.
015 B001201 C
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<PAGE> PAGE 27
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<PAGE> PAGE 28
048 H021200 0.000
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<PAGE> PAGE 29
063 A001200 0
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<PAGE> PAGE 30
072 C001200 34
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<PAGE> PAGE 31
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015 A001301 INVESTORS BANK & TRUST CO.
015 B001301 C
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
070 C021300 Y
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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015 A001701 INVESTORS BANK & TRUST CO.
015 B001701 C
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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015 A002101 INVESTORS BANK & TRUST CO.
015 B002101 C
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<PAGE> PAGE 40
015 C022101 MA
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046 002100 N
047 002100 Y
048 002100 0.400
048 A012100 0
048 A022100 0.000
048 B012100 0
048 B022100 0.000
<PAGE> PAGE 41
048 C012100 0
048 C022100 0.000
048 D012100 0
048 D022100 0.000
048 E012100 0
048 E022100 0.000
048 F012100 0
048 F022100 0.000
048 G012100 0
048 G022100 0.000
048 H012100 0
048 H022100 0.000
048 I012100 0
048 I022100 0.000
048 J012100 0
048 J022100 0.000
048 K012100 0
048 K022100 0.000
049 002100 N
050 002100 N
051 002100 N
052 002100 N
053 A002100 Y
053 B002100 Y
054 A002100 Y
054 B002100 Y
054 C002100 N
054 D002100 N
054 E002100 N
054 F002100 N
054 G002100 Y
054 H002100 Y
054 I002100 N
054 J002100 Y
054 K002100 N
054 L002100 N
054 M002100 Y
054 N002100 N
054 O002100 N
058 A002100 N
059 002100 Y
060 A002100 Y
060 B002100 N
061 002100 100000
062 A002100 Y
062 B002100 0.0
062 C002100 0.0
062 D002100 0.0
062 E002100 0.0
062 F002100 0.0
062 G002100 0.0
<PAGE> PAGE 42
062 H002100 0.0
062 I002100 0.0
062 J002100 0.0
062 K002100 0.0
062 L002100 0.0
062 M002100 0.0
062 N002100 0.0
062 O002100 0.0
062 P002100 1.8
062 Q002100 93.3
062 R002100 0.2
063 A002100 0
063 B002100 7.6
064 A002100 N
064 B002100 N
066 A002100 N
067 002100 N
068 A002100 N
068 B002100 Y
069 002100 N
070 A012100 Y
070 A022100 Y
070 B012100 Y
070 B022100 N
070 C012100 Y
070 C022100 Y
070 D012100 Y
070 D022100 N
070 E012100 Y
070 E022100 Y
070 F012100 Y
070 F022100 N
070 G012100 Y
070 G022100 N
070 H012100 Y
070 H022100 N
070 I012100 N
070 I022100 N
070 J012100 Y
070 J022100 Y
070 K012100 Y
070 K022100 N
070 L012100 Y
070 L022100 Y
070 M012100 Y
070 M022100 Y
070 N012100 Y
070 N022100 N
070 O012100 N
070 O022100 N
070 P012100 N
<PAGE> PAGE 43
070 P022100 N
070 Q012100 N
070 Q022100 N
070 R012100 Y
070 R022100 N
071 A002100 47328
071 B002100 24257
071 C002100 26623
071 D002100 91
072 A002100 7
072 B002100 838
072 C002100 0
072 D002100 0
072 E002100 0
072 F002100 56
072 G002100 1
072 H002100 0
072 I002100 5
072 J002100 47
072 K002100 0
072 L002100 0
072 M002100 3
072 N002100 4
072 O002100 0
072 P002100 0
072 Q002100 0
072 R002100 26
072 S002100 0
072 T002100 0
072 U002100 0
072 V002100 0
072 W002100 2
072 X002100 144
072 Y002100 144
072 Z002100 838
072AA002100 319
072BB002100 0
072CC012100 0
072CC022100 261
072DD012100 1384
072DD022100 0
072EE002100 0
073 A012100 1.1000
073 A022100 0.0000
073 B002100 0.0000
073 C002100 0.0000
074 A002100 524
074 B002100 0
074 C002100 0
074 D002100 22821
074 E002100 0
<PAGE> PAGE 44
074 F002100 0
074 G002100 0
074 H002100 50
074 I002100 0
074 J002100 2
074 K002100 0
074 L002100 537
074 M002100 381
074 N002100 24315
074 O002100 0
074 P002100 2
074 Q002100 0
074 R012100 0
074 R022100 0
074 R032100 0
074 R042100 314
074 S002100 0
074 T002100 23999
074 U012100 1233
074 U022100 0
074 V012100 19.47
074 V022100 0.00
074 W002100 0.0000
074 X002100 3
074 Y002100 10885
075 A002100 0
075 B002100 1367519
076 002100 0.00
SIGNATURE DENISE KNEELAND
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Standish, Ayer & Wood Investment Trust
form N-SAR for the year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 001
<NAME> Standish Fixed Income Fund Series
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 2,911,705,290
<RECEIVABLES> 110,356
<ASSETS-OTHER> 1,347
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,911,816,993
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,271,737
<TOTAL-LIABILITIES> 1,271,737
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3,211,495,598
<SHARES-COMMON-STOCK> 156,937,908
<SHARES-COMMON-PRIOR> 168,534,473
<ACCUMULATED-NII-CURRENT> (815,272)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (116,954,047)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (183,181,023)
<NET-ASSETS> 2,910,545,256
<DIVIDEND-INCOME> 5,197,028
<INTEREST-INCOME> 227,058,223
<OTHER-INCOME> (11,293,049)
<EXPENSES-NET> 382,065
<NET-INVESTMENT-INCOME> 220,580,137
<REALIZED-GAINS-CURRENT> (113,317,665)
<APPREC-INCREASE-CURRENT> (129,552,112)
<NET-CHANGE-FROM-OPS> (22,289,640)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (229,095,302)
<DISTRIBUTIONS-OF-GAINS> (5,299,644)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 18,581,997
<NUMBER-OF-SHARES-REDEEMED> (39,761,867)
<SHARES-REINVESTED> 9,583,305
<NET-CHANGE-IN-ASSETS> (482,024,372)
<ACCUMULATED-NII-PRIOR> 5,803,081
<ACCUMULATED-GAINS-PRIOR> 1,650,702
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 382,065
<AVERAGE-NET-ASSETS> 3,220,709,126
<PER-SHARE-NAV-BEGIN> 20.13
<PER-SHARE-NII> 1.34
<PER-SHARE-GAIN-APPREC> (1.47)
<PER-SHARE-DIVIDEND> (1.42)
<PER-SHARE-DISTRIBUTIONS> (0.03)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.55
<EXPENSE-RATIO> 0.36
</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 year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 003
<NAME> Standish Short Term Asset Reserve Fund
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 302,243,305
<RECEIVABLES> 20,181
<ASSETS-OTHER> 1,326
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 302,264,812
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 300,208
<TOTAL-LIABILITIES> 300,208
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 316,695,448
<SHARES-COMMON-STOCK> 15,701,062
<SHARES-COMMON-PRIOR> 13,376,420
<ACCUMULATED-NII-CURRENT> (285,559)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (12,061,664)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,383,621)
<NET-ASSETS> 301,964,604
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15,733,214
<OTHER-INCOME> (852,865)
<EXPENSES-NET> 79,026
<NET-INVESTMENT-INCOME> 14,801,323
<REALIZED-GAINS-CURRENT> (936,734)
<APPREC-INCREASE-CURRENT> (1,863,288)
<NET-CHANGE-FROM-OPS> 12,001,301
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (14,801,323)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 14,432,526
<NUMBER-OF-SHARES-REDEEMED> (12,745,104)
<SHARES-REINVESTED> 637,220
<NET-CHANGE-IN-ASSETS> 41,960,528
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (11,156,682)
<OVERDISTRIB-NII-PRIOR> (251,900)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 79,026
<AVERAGE-NET-ASSETS> 264,087,378
<PER-SHARE-NAV-BEGIN> 19.44
<PER-SHARE-NII> 1.08
<PER-SHARE-GAIN-APPREC> (0.21)
<PER-SHARE-DIVIDEND> (1.08)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 19.23
<EXPENSE-RATIO> 0.35
</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 year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 004
<NAME> Standish Securitized Fund Series
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 43,334,852
<INVESTMENTS-AT-VALUE> 41,761,427
<RECEIVABLES> 1,567,087
<ASSETS-OTHER> 4,084
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 43,332,598
<PAYABLE-FOR-SECURITIES> 2,738,748
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 115,525
<TOTAL-LIABILITIES> 2,854,273
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 43,987,268
<SHARES-COMMON-STOCK> 2,131,474
<SHARES-COMMON-PRIOR> 1,977,246
<ACCUMULATED-NII-CURRENT> 2,159
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (1,923,422)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1,587,680)
<NET-ASSETS> 40,478,325
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,980,485
<OTHER-INCOME> 0
<EXPENSES-NET> 191,222
<NET-INVESTMENT-INCOME> 2,789,263
<REALIZED-GAINS-CURRENT> (894,864)
<APPREC-INCREASE-CURRENT> (1,986,077)
<NET-CHANGE-FROM-OPS> (91,678)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,648,382)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 261,259
<NUMBER-OF-SHARES-REDEEMED> (135,495)
<SHARES-REINVESTED> 28,464
<NET-CHANGE-IN-ASSETS> 427,608
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (1,022,869)
<OVERDISTRIB-NII-PRIOR> (144,411)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 106,235
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 258,305
<AVERAGE-NET-ASSETS> 42,494,948
<PER-SHARE-NAV-BEGIN> 20.26
<PER-SHARE-NII> 1.30
<PER-SHARE-GAIN-APPREC> (1.36)
<PER-SHARE-DIVIDEND> (1.21)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.99
<EXPENSE-RATIO> 0.45
</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 year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 006
<NAME> Standish International Fixed Income Fund Ser
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 1,059,220,785
<INVESTMENTS-AT-VALUE> 1,035,623,308
<RECEIVABLES> 78,406,565
<ASSETS-OTHER> 50,712,261
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1,164,742,134
<PAYABLE-FOR-SECURITIES> 56,577,534
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 56,722,034
<TOTAL-LIABILITIES> 113,299,568
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,112,650,209
<SHARES-COMMON-STOCK> 49,319,334
<SHARES-COMMON-PRIOR> 58,238,602
<ACCUMULATED-NII-CURRENT> 3,089,432
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (46,309,309)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (17,987,766)
<NET-ASSETS> 1,051,442,566
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 84,624,261
<OTHER-INCOME> 0
<EXPENSES-NET> 6,904,220
<NET-INVESTMENT-INCOME> 77,720,041
<REALIZED-GAINS-CURRENT> (46,794,068)
<APPREC-INCREASE-CURRENT> (25,439,155)
<NET-CHANGE-FROM-OPS> 5,486,818
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (107,801,609)
<DISTRIBUTIONS-OF-GAINS> (633,288)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12,454,256
<NUMBER-OF-SHARES-REDEEMED> (25,229,550)
<SHARES-REINVESTED> 3,856,026
<NET-CHANGE-IN-ASSETS> (300,940,860)
<ACCUMULATED-NII-PRIOR> 35,089,632
<ACCUMULATED-GAINS-PRIOR> 499,887
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,348,212
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,904,220
<AVERAGE-NET-ASSETS> 1,336,228,914
<PER-SHARE-NAV-BEGIN> 23.22
<PER-SHARE-NII> 1.34
<PER-SHARE-GAIN-APPREC> (1.15)
<PER-SHARE-DIVIDEND> (2.08)
<PER-SHARE-DISTRIBUTIONS> (0.01)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 21.32
<EXPENSE-RATIO> 0.52
</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 year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 010
<NAME> Standish Global Fixed Income Fund Series
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 379,603,922
<RECEIVABLES> 0
<ASSETS-OTHER> 1,584
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 379,605,506
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 359,188
<TOTAL-LIABILITIES> 359,188
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 412,013,479
<SHARES-COMMON-STOCK> 20,217,269
<SHARES-COMMON-PRIOR> 22,610,637
<ACCUMULATED-NII-CURRENT> 912,242
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (21,830,425)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (11,848,978)
<NET-ASSETS> 379,246,318
<DIVIDEND-INCOME> 82,908
<INTEREST-INCOME> 30,602,346
<OTHER-INCOME> (2,327,730)
<EXPENSES-NET> 108,521
<NET-INVESTMENT-INCOME> 28,249,003
<REALIZED-GAINS-CURRENT> (21,650,039)
<APPREC-INCREASE-CURRENT> (9,743,040)
<NET-CHANGE-FROM-OPS> (3,144,076)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (30,568,392)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,142,101
<NUMBER-OF-SHARES-REDEEMED> (4,655,225)
<SHARES-REINVESTED> 1,119,756
<NET-CHANGE-IN-ASSETS> (79,279,216)
<ACCUMULATED-NII-PRIOR> 3,132,422
<ACCUMULATED-GAINS-PRIOR> (81,177)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 108,521
<AVERAGE-NET-ASSETS> 447,724,940
<PER-SHARE-NAV-BEGIN> 20.28
<PER-SHARE-NII> 1.26
<PER-SHARE-GAIN-APPREC> (1.38)
<PER-SHARE-DIVIDEND> (1.40)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 18.76
<EXPENSE-RATIO> 0.54
</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 year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> Standish Fixed Income Fund Series II Fund Se
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 68,407,989
<INVESTMENTS-AT-VALUE> 65,753,196
<RECEIVABLES> 2,539,822
<ASSETS-OTHER> 3,108
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 68,296,126
<PAYABLE-FOR-SECURITIES> 4,897,863
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 168,682
<TOTAL-LIABILITIES> 5,066,545
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 69,042,226
<SHARES-COMMON-STOCK> 3,646,828
<SHARES-COMMON-PRIOR> 4,189,732
<ACCUMULATED-NII-CURRENT> 307,649
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,470,117)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,650,177)
<NET-ASSETS> 63,229,581
<DIVIDEND-INCOME> 34,124
<INTEREST-INCOME> 4,867,776
<OTHER-INCOME> 0
<EXPENSES-NET> 281,315
<NET-INVESTMENT-INCOME> 4,620,585
<REALIZED-GAINS-CURRENT> (3,731,904)
<APPREC-INCREASE-CURRENT> (1,088,656)
<NET-CHANGE-FROM-OPS> (199,975)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,312,416)
<DISTRIBUTIONS-OF-GAINS> (301,075)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 722,572
<NUMBER-OF-SHARES-REDEEMED> (1,499,739)
<SHARES-REINVESTED> 234,263
<NET-CHANGE-IN-ASSETS> (14,679,087)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 289,521
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 281,324
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 456,243
<AVERAGE-NET-ASSETS> 70,290,803
<PER-SHARE-NAV-BEGIN> 18.60
<PER-SHARE-NII> 1.19
<PER-SHARE-GAIN-APPREC> (1.23)
<PER-SHARE-DIVIDEND> (1.15)
<PER-SHARE-DISTRIBUTIONS> (0.07)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 17.34
<EXPENSE-RATIO> 0.40
</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 year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 013
<NAME> Standish Controlled Maturity Fund Series
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 37,978,166
<INVESTMENTS-AT-VALUE> 37,536,296
<RECEIVABLES> 584,943
<ASSETS-OTHER> 16,897
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38,138,136
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 28,683
<TOTAL-LIABILITIES> 28,683
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38,923,059
<SHARES-COMMON-STOCK> 1,968,675
<SHARES-COMMON-PRIOR> 1,337,951
<ACCUMULATED-NII-CURRENT> 31,960
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (403,696)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (441,870)
<NET-ASSETS> 38,109,453
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,553,953
<OTHER-INCOME> 0
<EXPENSES-NET> 70,909
<NET-INVESTMENT-INCOME> 1,483,044
<REALIZED-GAINS-CURRENT> (293,690)
<APPREC-INCREASE-CURRENT> (327,779)
<NET-CHANGE-FROM-OPS> 861,575
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,449,025)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,269,370
<NUMBER-OF-SHARES-REDEEMED> (700,006)
<SHARES-REINVESTED> 61,360
<NET-CHANGE-IN-ASSETS> 11,530,236
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (110,429)
<OVERDISTRIB-NII-PRIOR> (1,636)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 70,908
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 210,775
<AVERAGE-NET-ASSETS> 23,669,419
<PER-SHARE-NAV-BEGIN> 19.87
<PER-SHARE-NII> 1.24
<PER-SHARE-GAIN-APPREC> (0.53)
<PER-SHARE-DIVIDEND> (1.22)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 19.36
<EXPENSE-RATIO> 0.30
</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 year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 017
<NAME> Standish Diversified Income Fund Series
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 31,143,666
<RECEIVABLES> 0
<ASSETS-OTHER> 9,738
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 31,153,404
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,413
<TOTAL-LIABILITIES> 15,413
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38,187,868
<SHARES-COMMON-STOCK> 1,790,097
<SHARES-COMMON-PRIOR> 2,126,684
<ACCUMULATED-NII-CURRENT> (158,425)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,121,681)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,769,771)
<NET-ASSETS> 31,137,991
<DIVIDEND-INCOME> 62,803
<INTEREST-INCOME> 3,284,262
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 3,347,065
<REALIZED-GAINS-CURRENT> (1,916,911)
<APPREC-INCREASE-CURRENT> (751,086)
<NET-CHANGE-FROM-OPS> 679,068
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,574,877)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (44,546)
<NUMBER-OF-SHARES-SOLD> 13,893
<NUMBER-OF-SHARES-REDEEMED> (380,241)
<SHARES-REINVESTED> 29,761
<NET-CHANGE-IN-ASSETS> (9,319,349)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2,054,593)
<OVERDISTRIB-NII-PRIOR> (81,654)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 73,853
<AVERAGE-NET-ASSETS> 33,899,637
<PER-SHARE-NAV-BEGIN> 19.02
<PER-SHARE-NII> 1.84
<PER-SHARE-GAIN-APPREC> (1.45)
<PER-SHARE-DIVIDEND> (2.00)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> (0.02)
<PER-SHARE-NAV-END> 17.39
<EXPENSE-RATIO> 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 year ended December 31, 1999
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 021
<NAME> Standish International Fixed Income Fund II
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 23,272,150
<INVESTMENTS-AT-VALUE> 22,870,535
<RECEIVABLES> 538,998
<ASSETS-OTHER> 905,650
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 24,315,183
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 315,941
<TOTAL-LIABILITIES> 315,941
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,487,486
<SHARES-COMMON-STOCK> 1,232,794
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> (44,068)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (183,126)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (261,050)
<NET-ASSETS> 23,999,242
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 837,544
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 837,544
<REALIZED-GAINS-CURRENT> 318,799
<APPREC-INCREASE-CURRENT> (261,050)
<NET-CHANGE-FROM-OPS> 895,293
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,383,537)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,526,875
<NUMBER-OF-SHARES-REDEEMED> (364,243)
<SHARES-REINVESTED> 70,162
<NET-CHANGE-IN-ASSETS> 23,999,242
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 56,258
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 143,658
<AVERAGE-NET-ASSETS> 27,878,485
<PER-SHARE-NAV-BEGIN> 20.00
<PER-SHARE-NII> 0.61
<PER-SHARE-GAIN-APPREC> (0.04)
<PER-SHARE-DIVIDEND> (1.10)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 19.47
<EXPENSE-RATIO> 0.00
</TABLE>
2
Report of Independent Accountants
To the Trustees and Shareholders
of Standish, Ayer & Wood Investment Trust:
Re: Standish Fixed Income Fund
Standish Fixed Income Fund II
Standish Global Fixed Income Fund
Standish Diversified Income Fund
Standish Short Term Asset Reserve Fund
Standish Securitized Fund
Standish Controlled Maturity Fund
Standish International Fixed Income Fund
Standish International Fixed Income Fund II
(hereafter, the "Funds")
In planning and performing our audits of the financial statements of Standish,
Ayer & Wood Investment Trust (the "Funds") for the year ended December 31, 1999,
we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply with
the requirements of Form N-SAR, not to provide assurance on internal control.
The management of the Funds is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that controls may become inadequate
because of changes in conditions or that the effectiveness of their design and
operation may deteriorate.
Our consideration of internal control would not necessarily disclose all matters
in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of the Trustees,
management and the Securities and Exchange Commission and is not intended to be
and should not be used by anyone other than these specified parties.
Boston, Massachusetts
February 18, 2000
