AVESTA TRUST
NSAR-A, 1997-08-27
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<PAGE>      PAGE  1
000 A000000 06/30/97
000 C000000 0000803747
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 AVESTA TRUST
001 B000000 811-5526
001 C000000 7132164465
002 A000000 815 TRAVIS STREET, 14TH FL HCB
002 B000000 HOUSTON
002 C000000 TX
002 D010000 77002
002 D020000 8310
003  000000 N
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006  000000 N
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007 B000000 15
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007 C020100 EQUITY GROWTH FUND
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007 C020200 EQUITY INCOME FUND
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007 C020300 BALANCED FUND
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007 C020400 INCOME FUND
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007 C010500  5
007 C020500 MONEY MARKET FUND
007 C030500 N
007 C010600  6
007 C020600 CORE EQUITY FUND
007 C030600 N
007 C010700  7
007 C020700 SMALL CAPITALIZATION FUND
007 C030700 N
007 C010800  8
007 C020800 SHORT INTERMEDIATE TERM US GOVT SECURITIES FD
007 C030800 N
007 C010900  9
007 C020900 U.S. GOVERNMENT SECURITIES FUND
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<PAGE>      PAGE  2
007 C021000 INTERMEDIATE TERM BOND FUND
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007 C021100 RISK MANAGER-INCOME FUND
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007 C021200 RISK MANAGER-BALANCED FUND
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007 C011300 13
007 C021300 RISK MANAGER-GROWTH
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007 C021500 INTERNATIONAL BOND FUND
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007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
008 A00AA01 TEXAS COMMERCE BANK NATIONAL ASSOCIATION
008 B00AA01 A
008 C00AA01 801-000000
008 D01AA01 HOUSTON
008 D02AA01 TX
008 D03AA01 77002
014 A00AA01 CHASE SECURITIES OF TEXAS, INC.
014 B00AA01 8-115526
020 A000001 LEHMAN BROTHERS
020 B000001 94-2537674
020 C000001      9
020 A000002 O'NEIL (WILLIAM) & CO., INC.
020 B000002 95-2269163
020 C000002      8
020 A000003 PAINE WEBBER, INC.
020 B000003 13-2638166
020 C000003      8
020 A000004 MORGAN STANLEY & CO., INC.
020 B000004 13-2655998
020 C000004      6
020 A000005 DAVIS (NED)
020 B000005 58-1412594
020 C000005      5
020 A000006 BEAR STEARNS & CO., INC.
020 B000006 13-3299429
020 C000006      4
020 A000007 BRIDGE TRADING CO.
020 B000007 43-1450530
020 C000007      4
<PAGE>      PAGE  3
020 A000008 HAMBRECHT & QUIST
020 B000008 94-2856938
020 C000008      3
020 A000009 EXECUTION SERVICES
020 B000009 13-2862329
020 C000009      3
020 A000010 WERTHEIM CORP.
020 B000010 13-2697272
020 C000010      3
021  000000       80
022 A000001 LEHMAN BROTHERS, INC.
022 B000001 94-2537674
022 C000001   1616618
022 D000001      9932
022 A000002 GOLDMAN SACHS
022 B000002 13-5108880
022 C000002    536588
022 D000002      8007
022 A000003 BARCLAYS BANK PLC
022 B000003 13-3551367
022 C000003    271353
022 D000003       463
022 A000004 BANK OF AMERICA
022 B000004 94-1687665
022 C000004     71392
022 D000004      3448
022 A000005 BARCLAY INVESTMENTS, INC.
022 B000005 05-0346412
022 C000005     49992
022 D000005         0
022 A000006 MERRILL LYNCH & CO., INC.
022 B000006 13-5674085
022 C000006     28040
022 D000006       237
022 A000007 DAVIS (NED)
022 B000007 58-1412594
022 C000007     10790
022 D000007     12177
022 A000008 PAINE WEBBER
022 B000008 13-2638166
022 C000008      9724
022 D000008      7651
022 A000009 CS FIRST BOSTON CORP.
022 B000009 13-5659485
022 C000009      7172
022 D000009      1920
022 A000010 SMITH BARNEY, HARRIS, UPHAM & CO., INC.
022 B000010 13-1912900
022 C000010      4152
022 D000010      4313
023 C000000    3224782
<PAGE>      PAGE  4
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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  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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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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070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 N
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<PAGE>      PAGE  20
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<PAGE>      PAGE  21
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<PAGE>      PAGE  22
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<PAGE>      PAGE  23
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<PAGE>      PAGE  24
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<PAGE>      PAGE  25
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
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<PAGE>      PAGE  28
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<PAGE>      PAGE  30
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<PAGE>      PAGE  31
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<PAGE>      PAGE  32
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<PAGE>      PAGE  33
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<PAGE>      PAGE  34
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<PAGE>      PAGE  35
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<PAGE>      PAGE  36
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<PAGE>      PAGE  37
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<PAGE>      PAGE  38
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055 A001100 Y
055 B001100 N
<PAGE>      PAGE  39
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066 A001100 Y
066 B001100 N
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070 H011100 Y
<PAGE>      PAGE  40
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072 Y001100       26
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<PAGE>      PAGE  41
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<PAGE>      PAGE  42
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055 A001200 Y
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066 A001200 Y
066 B001200 N
<PAGE>      PAGE  43
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066 D001200 N
066 E001200 N
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070 A021200 Y
070 B011200 Y
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070 C021200 N
070 D011200 Y
070 D021200 N
070 E011200 Y
070 E021200 N
070 F011200 Y
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 Y
070 H021200 N
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070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 Y
070 K021200 N
070 L011200 Y
070 L021200 Y
070 M011200 Y
070 M021200 N
070 N011200 N
070 N021200 N
070 O011200 Y
070 O021200 Y
070 P011200 Y
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
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072 A001200  6
072 B001200       98
<PAGE>      PAGE  44
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072 J001200        0
072 K001200        0
072 L001200        0
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072 N001200        3
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072 P001200        0
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072 R001200        6
072 S001200        4
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072 V001200        0
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072 Y001200       26
072 Z001200       87
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073 A011200   0.0000
073 A021200   0.0000
073 B001200   0.0000
073 C001200   0.0000
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074 H001200        0
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074 K001200        0
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074 M001200        0
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074 P001200        0
<PAGE>      PAGE  45
074 Q001200        0
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074 V021200     0.00
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055 A001300 N
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056  001300 Y
057  001300 N
058 A001300 N
<PAGE>      PAGE  46
059  001300 Y
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066 A001300 Y
066 B001300 N
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066 D001300 N
066 E001300 N
066 F001300 N
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068 A001300 N
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070 A011300 Y
070 A021300 Y
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070 C021300 N
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070 H011300 Y
070 H021300 N
070 I011300 Y
070 I021300 N
<PAGE>      PAGE  47
070 J011300 Y
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070 K011300 Y
070 K021300 N
070 L011300 Y
070 L021300 Y
070 M011300 Y
070 M021300 N
070 N011300 N
070 N021300 N
070 O011300 Y
070 O021300 N
070 P011300 Y
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
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<PAGE>      PAGE  48
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<PAGE>      PAGE  49
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<PAGE>      PAGE  50
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<PAGE>      PAGE  51
074 M001500        0
074 N001500        0
SIGNATURE   AMY MIAN                                     
TITLE       TREASURER           
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 03
   <NAME> BALANCED FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
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<ASSETS-OTHER>                                     252
<OTHER-ITEMS-ASSETS>                                 0
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<PAYABLE-FOR-SECURITIES>                             0
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<OTHER-ITEMS-LIABILITIES>                       69,417
<TOTAL-LIABILITIES>                             69,417
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     4,261,662
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<DIVIDEND-INCOME>                               75,309  
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<OTHER-INCOME>                                       0
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<APPREC-INCREASE-CURRENT>                    2,429,166
<NET-CHANGE-FROM-OPS>                        3,073,527
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        137,206
<NUMBER-OF-SHARES-REDEEMED>                  (151,194)
<SHARES-REINVESTED>                                  0
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<ACCUMULATED-GAINS-PRIOR>                    8,292,469
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
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<PER-SHARE-NII>                                   0.34
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<RETURNS-OF-CAPITAL>                                 0
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<EXPENSE-RATIO>                                   1.00
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<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 06
   <NAME> CORE EQUITY FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       24,063,529
<INVESTMENTS-AT-VALUE>                      37,284,938
<RECEIVABLES>                                  222,268
<ASSETS-OTHER>                                     812
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              37,508,018
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       46,602
<TOTAL-LIABILITIES>                             46,602
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    21,063,768
<SHARES-COMMON-STOCK>                        1,958,358
<SHARES-COMMON-PRIOR>                        1,793,487
<ACCUMULATED-NII-CURRENT>                    1,101,751
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      2,074,488
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    13,221,409
<NET-ASSETS>                                37,461,416
<DIVIDEND-INCOME>                              253,858
<INTEREST-INCOME>                               53,822
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (165,417)
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<REALIZED-GAINS-CURRENT>                       710,863
<APPREC-INCREASE-CURRENT>                    5,328,769
<NET-CHANGE-FROM-OPS>                        6,181,895
<EQUALIZATION>                                       0
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<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        401,519
<NUMBER-OF-SHARES-REDEEMED>                  (236,648)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       8,877,839
<ACCUMULATED-NII-PRIOR>                        959,488
<ACCUMULATED-GAINS-PRIOR>                    1,363,625
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          165,417
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                189,674
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<PER-SHARE-NII>                                   0.07
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<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              19.13
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 01
   <NAME> EQUITY GROWTH FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       44,764,733
<INVESTMENTS-AT-VALUE>                      70,442,005
<RECEIVABLES>                                  105,102
<ASSETS-OTHER>                                     324
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              70,547,431
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       80,859
<TOTAL-LIABILITIES>                             80,859
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    31,795,155
<SHARES-COMMON-STOCK>                        2,030,502
<SHARES-COMMON-PRIOR>                        2,050,816
<ACCUMULATED-NII-CURRENT>                    1,892,107
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     11,102,038
<OVERDISTRIBUTION-GAINS>                             0
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<NET-ASSETS>                                70,466,572
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<INTEREST-INCOME>                               31,669
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (318,504)
<NET-INVESTMENT-INCOME>                         79,789
<REALIZED-GAINS-CURRENT>                     2,500,970
<APPREC-INCREASE-CURRENT>                   11,390,287
<NET-CHANGE-FROM-OPS>                       13,971,046
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        216,984
<NUMBER-OF-SHARES-REDEEMED>                  (237,298)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      13,138,450
<ACCUMULATED-NII-PRIOR>                      1,812,318
<ACCUMULATED-GAINS-PRIOR>                    8,601,068
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          318,504
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                342,945
<AVERAGE-NET-ASSETS>                        64,283,021
<PER-SHARE-NAV-BEGIN>                            27.95
<PER-SHARE-NII>                                   0.04
<PER-SHARE-GAIN-APPREC>                           6.71
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              34.70
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 02
   <NAME> EQUITY INCOME FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       44,160,968
<INVESTMENTS-AT-VALUE>                      69,227,876
<RECEIVABLES>                                1,642,312
<ASSETS-OTHER>                                     565
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              70,870,753
<PAYABLE-FOR-SECURITIES>                       994,085
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       77,720
<TOTAL-LIABILITIES>                          1,071,805
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    29,023,253
<SHARES-COMMON-STOCK>                        2,057,917
<SHARES-COMMON-PRIOR>                        2,247,062
<ACCUMULATED-NII-CURRENT>                    5,105,280
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                     10,603,507
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                    25,066,908
<NET-ASSETS>                                69,798,948
<DIVIDEND-INCOME>                              650,776
<INTEREST-INCOME>                               73,013
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (331,833)
<NET-INVESTMENT-INCOME>                        391,956
<REALIZED-GAINS-CURRENT>                     3,305,314
<APPREC-INCREASE-CURRENT>                    8,188,125
<NET-CHANGE-FROM-OPS>                       11,885,395
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        260,655
<NUMBER-OF-SHARES-REDEEMED>                  (449,800)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       6,408,484
<ACCUMULATED-NII-PRIOR>                      4,713,324
<ACCUMULATED-GAINS-PRIOR>                    7,298,193
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          331,833
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                356,858
<AVERAGE-NET-ASSETS>                        67,541,352
<PER-SHARE-NAV-BEGIN>                            28.21
<PER-SHARE-NII>                                   0.18
<PER-SHARE-GAIN-APPREC>                           5.53
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              33.92
<EXPENSE-RATIO>                                   1.00
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 04
   <NAME> INCOME FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       48,916,694
<INVESTMENTS-AT-VALUE>                      49,059,729
<RECEIVABLES>                                  696,683
<ASSETS-OTHER>                                      91
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              49,756,503
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       45,633
<TOTAL-LIABILITIES>                             45,633
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    25,477,509
<SHARES-COMMON-STOCK>                        2,617,474
<SHARES-COMMON-PRIOR>                        2,888,629
<ACCUMULATED-NII-CURRENT>                   22,366,427
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                      1,723,899
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       143,035
<NET-ASSETS>                                49,710,870
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,684,730
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (191,379)
<NET-INVESTMENT-INCOME>                      1,493,351
<REALIZED-GAINS-CURRENT>                     (210,948)
<APPREC-INCREASE-CURRENT>                    (118,862)
<NET-CHANGE-FROM-OPS>                        1,163,541
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        212,082
<NUMBER-OF-SHARES-REDEEMED>                  (483,237)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                     (3,903,429)
<ACCUMULATED-NII-PRIOR>                     20,873,076
<ACCUMULATED-GAINS-PRIOR>                    1,934,847
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          191,379
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                215,394
<AVERAGE-NET-ASSETS>                        51,738,140
<PER-SHARE-NAV-BEGIN>                            18.56
<PER-SHARE-NII>                                   0.54
<PER-SHARE-GAIN-APPREC>                         (0.11)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              18.99
<EXPENSE-RATIO>                                   0.75
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 10
   <NAME> INTERMEDIATE TERM BOND FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       17,531,787
<INVESTMENTS-AT-VALUE>                      17,659,575
<RECEIVABLES>                                  210,228
<ASSETS-OTHER>                                       0
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                              17,869,803
<PAYABLE-FOR-SECURITIES>                       703,719
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       10,672
<TOTAL-LIABILITIES>                            714,391
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    15,798,817
<SHARES-COMMON-STOCK>                        1,414,672
<SHARES-COMMON-PRIOR>                          584,568
<ACCUMULATED-NII-CURRENT>                    1,082,194
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        146,613
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       127,788
<NET-ASSETS>                                17,155,412
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                              360,098
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (42,747)
<NET-INVESTMENT-INCOME>                        317,351
<REALIZED-GAINS-CURRENT>                      (63,997)
<APPREC-INCREASE-CURRENT>                      113,238
<NET-CHANGE-FROM-OPS>                          366,592
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        893,403
<NUMBER-OF-SHARES-REDEEMED>                   (63,299)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                      10,206,654
<ACCUMULATED-NII-PRIOR>                        764,843
<ACCUMULATED-GAINS-PRIOR>                      210,610
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           42,747
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 68,647 
<AVERAGE-NET-ASSETS>                        11,564,267
<PER-SHARE-NAV-BEGIN>                            11.89
<PER-SHARE-NII>                                   0.32
<PER-SHARE-GAIN-APPREC>                         (0.08)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.13
<EXPENSE-RATIO>                                   0.75
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 05
   <NAME> MONEY MARKET FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                      126,276,261
<INVESTMENTS-AT-VALUE>                     126,276,261
<RECEIVABLES>                                  560,884
<ASSETS-OTHER>                                     197
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             126,837,342
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,230,211
<TOTAL-LIABILITIES>                          1,230,211
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                             0
<SHARES-COMMON-STOCK>                      125,607,131
<SHARES-COMMON-PRIOR>                      119,105,990
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               125,607,131
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            3,295,027
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (299,777)
<NET-INVESTMENT-INCOME>                      2,995,250 
<REALIZED-GAINS-CURRENT>                             0
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                        2,995,250
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                  (2,995,250)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                     91,018,587
<NUMBER-OF-SHARES-REDEEMED>               (87,512,696)
<SHARES-REINVESTED>                          2,995,250
<NET-CHANGE-IN-ASSETS>                       6,501,141
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                          299,777
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                328,307
<AVERAGE-NET-ASSETS>                       120,294,318
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   0.03
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                         0.03
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   0.50
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 12
   <NAME> RISK MANAGER-BALANCED FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                        5,068,265
<INVESTMENTS-AT-VALUE>                       6,235,648
<RECEIVABLES>                                   50,595
<ASSETS-OTHER>                                     389
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               6,286,632
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        7,420 
<TOTAL-LIABILITIES>                              7,420
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     3,726,971
<SHARES-COMMON-STOCK>                          434,902
<SHARES-COMMON-PRIOR>                          455,222
<ACCUMULATED-NII-CURRENT>                      616,747
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        768,111
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     1,167,383
<NET-ASSETS>                                 6,279,212
<DIVIDEND-INCOME>                               23,239
<INTEREST-INCOME>                               97,816
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (33,784)
<NET-INVESTMENT-INCOME>                         87,271
<REALIZED-GAINS-CURRENT>                        51,879
<APPREC-INCREASE-CURRENT>                      485,067
<NET-CHANGE-FROM-OPS>                          624,217
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                        140,779
<NUMBER-OF-SHARES-REDEEMED>                  (161,099)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                         363,939
<ACCUMULATED-NII-PRIOR>                        529,476
<ACCUMULATED-GAINS-PRIOR>                      716,232
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           33,784
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 59,657
<AVERAGE-NET-ASSETS>                         6,200,219
<PER-SHARE-NAV-BEGIN>                            12.99
<PER-SHARE-NII>                                   0.19
<PER-SHARE-GAIN-APPREC>                           1.26
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              14.44
<EXPENSE-RATIO>                                   1.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 13
   <NAME> RISK MANAGER-GROWTH FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                        2,133,798
<INVESTMENTS-AT-VALUE>                       2,557,574
<RECEIVABLES>                                   17,654
<ASSETS-OTHER>                                     732
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               2,575,960
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        2,304
<TOTAL-LIABILITIES>                              2,304
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       961,933
<SHARES-COMMON-STOCK>                          168,678
<SHARES-COMMON-PRIOR>                          246,209
<ACCUMULATED-NII-CURRENT>                      314,300
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        873,647
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       423,776
<NET-ASSETS>                                 2,573,656
<DIVIDEND-INCOME>                               10,359
<INTEREST-INCOME>                               29,946
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (12,610)
<NET-INVESTMENT-INCOME>                         27,695
<REALIZED-GAINS-CURRENT>                       230,050
<APPREC-INCREASE-CURRENT>                        3,900
<NET-CHANGE-FROM-OPS>                          261,645
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         33,101
<NUMBER-OF-SHARES-REDEEMED>                  (110,632)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (792,985)
<ACCUMULATED-NII-PRIOR>                        286,605
<ACCUMULATED-GAINS-PRIOR>                      643,597
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           12,610
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 38,391
<AVERAGE-NET-ASSETS>                         2,311,822
<PER-SHARE-NAV-BEGIN>                            13.67
<PER-SHARE-NII>                                   0.16
<PER-SHARE-GAIN-APPREC>                           1.43
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              15.26
<EXPENSE-RATIO>                                   1.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 11
   <NAME> RISK MANAGER-INCOME FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                        3,517,092
<INVESTMENTS-AT-VALUE>                       3,907,236
<RECEIVABLES>                                   54,021
<ASSETS-OTHER>                                      42
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               3,961,299
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        3,700
<TOTAL-LIABILITIES>                              3,700
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     1,793,051
<SHARES-COMMON-STOCK>                          302,603
<SHARES-COMMON-PRIOR>                          385,376
<ACCUMULATED-NII-CURRENT>                      862,582
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        911,822
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       390,144
<NET-ASSETS>                                 3,957,599
<DIVIDEND-INCOME>                                8,314
<INTEREST-INCOME>                               98,032
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (23,486)
<NET-INVESTMENT-INCOME>                         82,860
<REALIZED-GAINS-CURRENT>                        38,079
<APPREC-INCREASE-CURRENT>                      143,543
<NET-CHANGE-FROM-OPS>                          181,622
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         24,879
<NUMBER-OF-SHARES-REDEEMED>                  (107,652)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                       (782,662)
<ACCUMULATED-NII-PRIOR>                        779,722
<ACCUMULATED-GAINS-PRIOR>                      873,743
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           23,486
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 49,331
<AVERAGE-NET-ASSETS>                         4,304,703
<PER-SHARE-NAV-BEGIN>                            12.30
<PER-SHARE-NII>                                   0.24
<PER-SHARE-GAIN-APPREC>                           0.54
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              13.08
<EXPENSE-RATIO>                                   1.10
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 08
   <NAME> SHORT INTERMEDIATE TERM US GOVERNMENT SECURITIES FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       24,333,952
<INVESTMENTS-AT-VALUE>                      24,396,831
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 07
   <NAME> SMALL CAPITALIZATION FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
<FISCAL-YEAR-END>                          DEC-31-1997
<PERIOD-START>                             JAN-01-1997
<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                       23,351,016
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<EQUALIZATION>                                       0
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000803747
<NAME> AVESTA TRUST
<SERIES>
   <NUMBER> 09
   <NAME> U.S. GOVERNMENT SECURITIES FUND
<MULTIPLIER> 1
       
<S>                             <C>
<PERIOD-TYPE>                  6-MOS
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<PERIOD-END>                               JUN-30-1997
<INVESTMENTS-AT-COST>                        2,450,324
<INVESTMENTS-AT-VALUE>                       2,514,983
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<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        1,655
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<SENIOR-EQUITY>                                      0
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<OVERDISTRIBUTION-NII>                               0
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<OTHER-INCOME>                                       0
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<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                         31,307
<NUMBER-OF-SHARES-REDEEMED>                   (40,618)
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<ACCUMULATED-GAINS-PRIOR>                    (191,233)
<OVERDISTRIB-NII-PRIOR>                              0
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</TABLE>


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