<PAGE> PAGE 1
000 A000000 04/30/96
000 C000000 0000806390
000 D000000 N
000 E000000 F
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 STATE STREET RESEARCH FINANCIAL TRUST
001 B000000 811-\911
001 C000000 6173571200
002 A000000 ONE FINANCIAL CENTER
002 B000000 BOSTON
002 C000000 MA
002 D010000 02111
002 D020000 2690
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 STATE STREET RESEARCH GOVERNMENT INCOME FUND
007 C030100 N
007 C010200 2
007 C020200 SSR STRATEGIC PORTFOLIOS: MODERATE
007 C030200 N
007 C010300 3
007 C020300 SSR STRATEGIC PORTFOLIOS: AGGRESSIVE
007 C030300 N
007 C010400 4
007 C020400 SSR STRATEGIC PORTFOLIOS: CONSERVATIVE
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 21
019 C00AA00 STATESTRES
020 A000001 MORGAN STANLEY & CO., INC
020 B000001 13-2655998
020 C000001 10
020 A000002 UBS SECURITIES
020 B000002 13-2932996
020 C000002 8
<PAGE> PAGE 2
020 A000003 MERRILL LYNCH PIERCE FENNER & SMITH, INC.
020 B000003 13-5674085
020 C000003 7
020 A000004 GOLDMAN SACHS & CO.
020 B000004 13-5108880
020 C000004 6
020 A000005 SALOMON BROTHERS
020 B000005 13-3082694
020 C000005 6
020 A000006 SMITH BARNEY INC.
020 B000006 13-1912900
020 C000006 6
020 A000007 OPPENHEIMER & CO., INC.
020 B000007 13-2798343
020 C000007 4
020 A000008 LEHMAN BROTHERS INC
020 B000008 13-2518466
020 C000008 4
020 A000009 DONALDSON, LUFKIN & JENRETTE
020 B000009 13-2741729
020 C000009 4
020 A000010 J.P. MORGAN SECURITIES INC.
020 B000010 13-3224016
020 C000010 3
021 000000 121
022 A000001 AMERICAN EXPRESS CREDIT CORP
022 C000001 402010
022 D000001 0
022 A000002 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000002 13-5674085
022 C000002 379696
022 D000002 215
022 A000003 FORD MOTOR CREDIT CO.
022 C000003 239684
022 D000003 0
022 A000004 ASSOCIATES CORP. OF NORTH AMERICA
022 C000004 171415
022 D000004 0
022 A000005 HOUSEHOLD FINANCE CORP.
022 C000005 170413
022 D000005 0
022 A000006 CS FIRST BOSTON CORP.
022 B000006 13-5659485
022 C000006 153835
022 D000006 0
022 A000007 GENERAL ELECTRIC CAPITAL CORP
022 C000007 86579
022 D000007 0
022 A000008 BENEFICIAL CORP
022 C000008 75959
022 D000008 0
<PAGE> PAGE 3
022 A000009 COMMERCIAL CREDIT CO.
022 C000009 75761
022 D000009 0
022 A000010 GOLDMAN SACHS & CO.
022 B000010 13-5108880
022 C000010 70120
022 D000010 343
023 C000000 3191061
023 D000000 171309
024 00AA00 Y
025 A00AA01 LEHMAN BROTHERS INC.
025 B00AA01 13-2518466
025 C00AA01 D
025 D00AA01 5901
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
077 A000000 Y
077 B000000 N
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 N
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 FEDERAL INSURANCE COMPANY
080 C00AA00 15000
081 A00AA00 Y
081 B00AA00 26
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
<PAGE> PAGE 4
085 A00AA00 Y
085 B00AA00 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 6986
028 A020100 1510
028 A030100 0
028 A040100 10021
028 B010100 7791
028 B020100 1511
028 B030100 0
028 B040100 12497
028 C010100 5459
028 C020100 1513
028 C030100 0
028 C040100 14792
028 D010100 7337
028 D020100 1424
028 D030100 0
028 D040100 14225
028 E010100 7586
028 E020100 1418
028 E030100 0
028 E040100 9947
028 F010100 5811
028 F020100 5055
028 F030100 0
028 F040100 15746
028 G010100 40970
028 G020100 12431
028 G030100 0
028 G040100 77228
028 H000100 18052
029 000100 Y
030 A000100 442
030 B000100 4.50
030 C000100 0.00
031 A000100 55
031 B000100 0
032 000100 89
033 000100 298
<PAGE> PAGE 5
034 000100 Y
035 000100 274
036 A000100 N
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 99
042 E000100 1
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 1323
044 000100 401
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 10.1
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 23.7
062 N000100 45.5
062 O000100 0.0
062 P000100 0.0
062 Q000100 20.7
062 R000100 0.0
063 A000100 0
063 B000100 7.7
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
071 A000100 442200
071 B000100 495454
071 C000100 718960
071 D000100 62
072 A000100 6
072 B000100 27888
072 C000100 0
<PAGE> PAGE 6
072 D000100 0
072 E000100 0
072 F000100 2428
072 G000100 0
072 H000100 0
072 I000100 393
072 J000100 131
072 K000100 0
072 L000100 40
072 M000100 17
072 N000100 38
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 19
072 S000100 24
072 T000100 1323
072 U000100 0
072 V000100 0
072 W000100 18
072 X000100 4431
072 Y000100 0
072 Z000100 23457
072AA000100 0
072BB000100 2396
072CC010100 0
072CC020100 16358
072DD010100 22920
072DD020100 0
072EE000100 0
073 A010100 0.4100
073 A020100 0.3400
073 B000100 0.0000
073 C000100 0.0000
074 A000100 5
074 B000100 0
074 C000100 72896
074 D000100 660621
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 21316
074 M000100 169
074 N000100 755007
074 O000100 30942
074 P000100 804
074 Q000100 0
<PAGE> PAGE 7
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 4282
074 S000100 0
074 T000100 718979
074 U010100 58630
074 U020100 0
074 V010100 12.27
074 V020100 12.23
074 W000100 0.0000
074 X000100 19459
074 Y000100 0
075 A000100 0
075 B000100 746979
076 000100 0.00
028 A010200 604
028 A020200 0
028 A030200 0
028 A040200 178
028 B010200 582
028 B020200 249
028 B030200 0
028 B040200 86
028 C010200 355
028 C020200 0
028 C030200 0
028 C040200 334
028 D010200 1119
028 D020200 0
028 D030200 0
028 D040200 252
028 E010200 494
028 E020200 0
028 E030200 0
028 E040200 139
028 F010200 6826
028 F020200 104
028 F030200 0
028 F040200 780
028 G010200 9980
028 G020200 353
028 G030200 0
028 G040200 1769
028 H000200 0
029 000200 N
030 A000200 0
030 B000200 0.00
030 C000200 0.00
031 A000200 0
031 B000200 0
<PAGE> PAGE 8
032 000200 0
033 000200 0
034 000200 N
035 000200 0
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 0
044 000200 0
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 17.9
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 9.4
062 N000200 12.3
062 O000200 0.0
062 P000200 7.0
062 Q000200 7.5
062 R000200 45.9
063 A000200 0
063 B000200 9.2
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 Y
067 000200 Y
068 A000200 N
068 B000200 N
069 000200 N
<PAGE> PAGE 9
071 A000200 26465
071 B000200 23572
071 C000200 40280
071 D000200 59
072 A000200 6
072 B000200 767
072 C000200 163
072 D000200 0
072 E000200 0
072 F000200 140
072 G000200 0
072 H000200 0
072 I000200 42
072 J000200 77
072 K000200 0
072 L000200 12
072 M000200 6
072 N000200 10
072 O000200 3
072 P000200 0
072 Q000200 0
072 R000200 12
072 S000200 3
072 T000200 0
072 U000200 8
072 V000200 0
072 W000200 4
072 X000200 317
072 Y000200 98
072 Z000200 711
072AA000200 1515
072BB000200 0
072CC010200 1150
072CC020200 0
072DD010200 1021
072DD020200 0
072EE000200 0
073 A010200 0.2600
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 7
074 B000200 0
074 C000200 9085
074 D000200 19569
074 E000200 0
074 F000200 23306
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 995
<PAGE> PAGE 10
074 K000200 11
074 L000200 617
074 M000200 41
074 N000200 53631
074 O000200 2777
074 P000200 48
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 65
074 S000200 0
074 T000200 50741
074 U010200 4683
074 U020200 0
074 V010200 10.84
074 V020200 0.00
074 W000200 0.0000
074 X000200 10
074 Y000200 0
075 A000200 0
075 B000200 43207
076 000200 0.00
028 A010300 695
028 A020300 0
028 A030300 0
028 A040300 149
028 B010300 374
028 B020300 1351
028 B030300 0
028 B040300 123
028 C010300 362
028 C020300 0
028 C030300 0
028 C040300 55
028 D010300 1276
028 D020300 0
028 D030300 0
028 D040300 95
028 E010300 42737
028 E020300 0
028 E030300 0
028 E040300 42383
028 F010300 8101
028 F020300 21
028 F030300 0
028 F040300 177
028 G010300 53545
028 G020300 1372
028 G030300 0
028 G040300 42982
<PAGE> PAGE 11
028 H000300 0
029 000300 N
030 A000300 0
030 B000300 0.00
030 C000300 0.00
031 A000300 0
031 B000300 0
032 000300 0
033 000300 0
034 000300 N
035 000300 0
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 Y
041 000300 Y
042 A000300 18
042 B000300 7
042 C000300 0
042 D000300 0
042 E000300 35
042 F000300 0
042 G000300 40
042 H000300 0
043 000300 36
044 000300 43
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 12.9
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 1.9
062 N000300 3.6
062 O000300 0.0
062 P000300 5.6
062 Q000300 5.7
062 R000300 70.3
063 A000300 0
063 B000300 8.0
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 N
<PAGE> PAGE 12
066 E000300 N
066 F000300 N
066 G000300 Y
067 000300 Y
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 42059
071 B000300 39247
071 C000300 61710
071 D000300 64
072 A000300 6
072 B000300 633
072 C000300 328
072 D000300 0
072 E000300 0
072 F000300 247
072 G000300 0
072 H000300 0
072 I000300 21
072 J000300 91
072 K000300 0
072 L000300 9
072 M000300 7
072 N000300 2
072 O000300 8
072 P000300 0
072 Q000300 0
072 R000300 11
072 S000300 5
072 T000300 36
072 U000300 4
072 V000300 0
072 W000300 3
072 X000300 444
072 Y000300 38
072 Z000300 555
072AA000300 3361
072BB000300 0
072CC010300 3818
072CC020300 0
072DD010300 806
072DD020300 0
072EE000300 1314
073 A010300 0.1500
073 A020300 0.1000
073 B000300 0.2400
073 C000300 0.0000
074 A000300 60
074 B000300 0
074 C000300 10021
<PAGE> PAGE 13
074 D000300 13167
074 E000300 0
074 F000300 54778
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 850
074 K000300 3
074 L000300 647
074 M000300 72
074 N000300 79598
074 O000300 1528
074 P000300 58
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 99
074 S000300 0
074 T000300 77913
074 U010300 6555
074 U020300 0
074 V010300 11.90
074 V020300 11.89
074 W000300 0.0000
074 X000300 12
074 Y000300 0
075 A000300 0
075 B000300 65836
076 000300 0.00
028 A010400 359
028 A020400 0
028 A030400 0
028 A040400 45
028 B010400 67
028 B020400 724
028 B030400 0
028 B040400 32
028 C010400 120
028 C020400 0
028 C030400 0
028 C040400 8
028 D010400 662
028 D020400 0
028 D030400 0
028 D040400 57
028 E010400 28267
028 E020400 0
028 E030400 0
028 E040400 28126
028 F010400 5955
<PAGE> PAGE 14
028 F020400 25
028 F030400 0
028 F040400 327
028 G010400 35430
028 G020400 749
028 G030400 0
028 G040400 28595
028 H000400 0
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
031 A000400 0
031 B000400 0
032 000400 0
033 000400 0
034 000400 N
035 000400 0
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 Y
041 000400 Y
042 A000400 18
042 B000400 7
042 C000400 0
042 D000400 0
042 E000400 35
042 F000400 0
042 G000400 40
042 H000400 0
043 000400 25
044 000400 45
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 15.8
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 15.4
062 N000400 21.7
062 O000400 0.0
062 P000400 3.9
062 Q000400 12.7
<PAGE> PAGE 15
062 R000400 30.5
063 A000400 0
063 B000400 7.8
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 Y
067 000400 Y
068 A000400 N
068 B000400 N
069 000400 N
071 A000400 23258
071 B000400 19416
071 C000400 29508
071 D000400 66
072 A000400 6
072 B000400 784
072 C000400 72
072 D000400 0
072 E000400 0
072 F000400 93
072 G000400 0
072 H000400 0
072 I000400 40
072 J000400 66
072 K000400 0
072 L000400 8
072 M000400 8
072 N000400 9
072 O000400 1
072 P000400 0
072 Q000400 0
072 R000400 10
072 S000400 0
072 T000400 25
072 U000400 4
072 V000400 0
072 W000400 0
072 X000400 264
072 Y000400 98
072 Z000400 690
072AA000400 840
072BB000400 0
072CC010400 0
072CC020400 252
072DD010400 763
072DD020400 0
072EE000400 694
<PAGE> PAGE 16
073 A010400 0.2800
073 A020400 0.1700
073 B000400 0.2500
073 C000400 0.0000
074 A000400 64
074 B000400 0
074 C000400 5780
074 D000400 21120
074 E000400 0
074 F000400 11110
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 1025
074 K000400 9
074 L000400 468
074 M000400 63
074 N000400 39639
074 O000400 3023
074 P000400 52
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 88
074 S000400 0
074 T000400 36476
074 U010400 3473
074 U020400 0
074 V010400 10.59
074 V020400 10.50
074 W000400 0.0000
074 X000400 0
074 Y000400 0
075 A000400 0
075 B000400 31064
076 000400 0.00
SIGNATURE DOUGLAS A. ROMICH
TITLE ASSISTANT TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 011
<NAME> STATE STREET RESEARCH GOVERNMENT INCOME FUND CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 728,005,106
<INVESTMENTS-AT-VALUE> 733,516,457
<RECEIVABLES> 21,315,918
<ASSETS-OTHER> 174,440
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 755,006,815
<PAYABLE-FOR-SECURITIES> 30,941,707
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,086,369
<TOTAL-LIABILITIES> 36,028,076
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 826,974,687
<SHARES-COMMON-STOCK> 49,341,557
<SHARES-COMMON-PRIOR> 52,079,516
<ACCUMULATED-NII-CURRENT> 3,234,022
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (116,948,715)
<ACCUM-APPREC-OR-DEPREC> 5,718,745
<NET-ASSETS> 718,978,739
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27,888,586
<OTHER-INCOME> 0
<EXPENSES-NET> 4,431,332
<NET-INVESTMENT-INCOME> 23,457,254
<REALIZED-GAINS-CURRENT> (2,396,137)
<APPREC-INCREASE-CURRENT> (16,358,450)
<NET-CHANGE-FROM-OPS> 4,702,667
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (19,857,068)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,271,564
<NUMBER-OF-SHARES-REDEEMED> (4,834,901)
<SHARES-REINVESTED> 825,378
<NET-CHANGE-IN-ASSETS> (42,042,800)
<ACCUMULATED-NII-PRIOR> 2,696,356
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (114,552,578)
<GROSS-ADVISORY-FEES> 2,427,682
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,431,332
<AVERAGE-NET-ASSETS> 746,979,077
<PER-SHARE-NAV-BEGIN> 12.58
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> (0.32)
<PER-SHARE-DIVIDEND> (0.39)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.27
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 012
<NAME> STATE STREET RESEARCH GOVERNMENT INCOME FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 728,005,106
<INVESTMENTS-AT-VALUE> 733,516,457
<RECEIVABLES> 21,315,918
<ASSETS-OTHER> 174,440
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 755,006,815
<PAYABLE-FOR-SECURITIES> 30,941,707
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,086,369
<TOTAL-LIABILITIES> 36,028,076
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 826,974,687
<SHARES-COMMON-STOCK> 7,526,081
<SHARES-COMMON-PRIOR> 7,002,674
<ACCUMULATED-NII-CURRENT> 3,234,022
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (116,948,715)
<ACCUM-APPREC-OR-DEPREC> 5,718,745
<NET-ASSETS> 718,978,739
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27,888,586
<OTHER-INCOME> 0
<EXPENSES-NET> 4,431,332
<NET-INVESTMENT-INCOME> 23,457,254
<REALIZED-GAINS-CURRENT> (2,396,137)
<APPREC-INCREASE-CURRENT> (16,358,450)
<NET-CHANGE-FROM-OPS> 4,702,667
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,527,264)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,395,626
<NUMBER-OF-SHARES-REDEEMED> (1,004,169)
<SHARES-REINVESTED> 131,950
<NET-CHANGE-IN-ASSETS> (42,042,800)
<ACCUMULATED-NII-PRIOR> 2,696,356
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (114,552,578)
<GROSS-ADVISORY-FEES> 2,427,682
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,431,332
<AVERAGE-NET-ASSETS> 746,979,077
<PER-SHARE-NAV-BEGIN> 12.55
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> (0.33)
<PER-SHARE-DIVIDEND> (0.34)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.23
<EXPENSE-RATIO> 1.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 013
<NAME> STATE STREET RESEARCH GOVERNMENT INCOME FUND CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 728,005,106
<INVESTMENTS-AT-VALUE> 733,516,457
<RECEIVABLES> 21,315,918
<ASSETS-OTHER> 174,440
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 755,006,815
<PAYABLE-FOR-SECURITIES> 30,941,707
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,086,369
<TOTAL-LIABILITIES> 36,028,076
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 826,974,687
<SHARES-COMMON-STOCK> 619,640
<SHARES-COMMON-PRIOR> 400,569
<ACCUMULATED-NII-CURRENT> 3,234,022
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (116,948,715)
<ACCUM-APPREC-OR-DEPREC> 5,718,745
<NET-ASSETS> 718,978,739
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27,888,586
<OTHER-INCOME> 0
<EXPENSES-NET> 4,431,332
<NET-INVESTMENT-INCOME> 23,457,254
<REALIZED-GAINS-CURRENT> (2,396,137)
<APPREC-INCREASE-CURRENT> (16,358,450)
<NET-CHANGE-FROM-OPS> 4,702,667
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (166,475)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 290,143
<NUMBER-OF-SHARES-REDEEMED> (83,454)
<SHARES-REINVESTED> 12,382
<NET-CHANGE-IN-ASSETS> (42,042,800)
<ACCUMULATED-NII-PRIOR> 2,696,356
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (114,552,578)
<GROSS-ADVISORY-FEES> 2,427,682
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,431,332
<AVERAGE-NET-ASSETS> 746,979,077
<PER-SHARE-NAV-BEGIN> 12.57
<PER-SHARE-NII> 0.41
<PER-SHARE-GAIN-APPREC> (0.31)
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.26
<EXPENSE-RATIO> 0.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 014
<NAME> STATE STREET RESEARCH GOVERNMENT INCOME CLASS D
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 728,005,106
<INVESTMENTS-AT-VALUE> 733,516,457
<RECEIVABLES> 21,315,918
<ASSETS-OTHER> 174,440
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 755,006,815
<PAYABLE-FOR-SECURITIES> 30,941,707
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 5,086,369
<TOTAL-LIABILITIES> 36,028,076
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 826,974,687
<SHARES-COMMON-STOCK> 1,142,922
<SHARES-COMMON-PRIOR> 1,037,903
<ACCUMULATED-NII-CURRENT> 3,234,022
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (116,948,715)
<ACCUM-APPREC-OR-DEPREC> 5,718,745
<NET-ASSETS> 718,978,739
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 27,888,586
<OTHER-INCOME> 0
<EXPENSES-NET> 4,431,332
<NET-INVESTMENT-INCOME> 23,457,254
<REALIZED-GAINS-CURRENT> (2,396,137)
<APPREC-INCREASE-CURRENT> (16,358,450)
<NET-CHANGE-FROM-OPS> 4,702,667
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (368,781)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 313,895
<NUMBER-OF-SHARES-REDEEMED> (228,186)
<SHARES-REINVESTED> 19,310
<NET-CHANGE-IN-ASSETS> (42,042,800)
<ACCUMULATED-NII-PRIOR> 2,696,356
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (114,552,578)
<GROSS-ADVISORY-FEES> 2,427,682
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,431,332
<AVERAGE-NET-ASSETS> 746,979,077
<PER-SHARE-NAV-BEGIN> 12.56
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> (0.33)
<PER-SHARE-DIVIDEND> (0.34)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.24
<EXPENSE-RATIO> 1.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 023
<NAME> STATE STREET RESEARCH STRATEGIC PORTFOLIOS: MODERATE CL. C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 48,144,550
<INVESTMENTS-AT-VALUE> 51,960,368
<RECEIVABLES> 1,622,727
<ASSETS-OTHER> 48,149
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 53,631,244
<PAYABLE-FOR-SECURITIES> 2,777,407
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 113,110
<TOTAL-LIABILITIES> 2,890,517
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 45,520,305
<SHARES-COMMON-STOCK> 4,682,803
<SHARES-COMMON-PRIOR> 3,880,114
<ACCUMULATED-NII-CURRENT> 241,856
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,129,215
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,849,351
<NET-ASSETS> 50,740,727
<DIVIDEND-INCOME> 159,589
<INTEREST-INCOME> 766,796
<OTHER-INCOME> 0
<EXPENSES-NET> 215,348
<NET-INVESTMENT-INCOME> 711,037
<REALIZED-GAINS-CURRENT> 1,515,273
<APPREC-INCREASE-CURRENT> 1,150,007
<NET-CHANGE-FROM-OPS> 3,376,317
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,020,925)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 935,082
<NUMBER-OF-SHARES-REDEEMED> (166,229)
<SHARES-REINVESTED> 33,836
<NET-CHANGE-IN-ASSETS> 10,919,818
<ACCUMULATED-NII-PRIOR> 551,744
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (386,058)
<GROSS-ADVISORY-FEES> 140,422
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 314,305
<AVERAGE-NET-ASSETS> 43,206,769
<PER-SHARE-NAV-BEGIN> 10.26
<PER-SHARE-NII> .20
<PER-SHARE-GAIN-APPREC> .64
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.84
<EXPENSE-RATIO> 1.00
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 031
<NAME> STATE STREET RESEARCH STRATEGIC PORTFOLIOS: AGGRESSIVE CL. A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 68,275,535
<INVESTMENTS-AT-VALUE> 77,966,180
<RECEIVABLES> 1,499,828
<ASSETS-OTHER> 132,157
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 79,598,165
<PAYABLE-FOR-SECURITIES> 1,528,335
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 156,866
<TOTAL-LIABILITIES> 1,685,201
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64,709,254
<SHARES-COMMON-STOCK> 50,022
<SHARES-COMMON-PRIOR> 3,619,245
<ACCUMULATED-NII-CURRENT> 213,787
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,237,520
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,752,403
<NET-ASSETS> 77,912,964
<DIVIDEND-INCOME> 319,239
<INTEREST-INCOME> 633,203
<OTHER-INCOME> 0
<EXPENSES-NET> 397,728
<NET-INVESTMENT-INCOME> 554,714
<REALIZED-GAINS-CURRENT> 3,360,901
<APPREC-INCREASE-CURRENT> 3,818,305
<NET-CHANGE-FROM-OPS> 7,733,920
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (361,924)
<DISTRIBUTIONS-OF-GAINS> (850,522)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (3,647,468)
<SHARES-REINVESTED> 78,245
<NET-CHANGE-IN-ASSETS> 17,548,963
<ACCUMULATED-NII-PRIOR> 464,967
<ACCUMULATED-GAINS-PRIOR> 1,190,810
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 246,886
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 435,703
<AVERAGE-NET-ASSETS> 65,836,267
<PER-SHARE-NAV-BEGIN> 10.93
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 1.23
<PER-SHARE-DIVIDEND> (0.10)
<PER-SHARE-DISTRIBUTIONS> (0.24)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.90
<EXPENSE-RATIO> 1.35
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 033
<NAME> STATE STREET RESEARCH STRATEGIC PORTFOLIOS: AGGRESSIVE CL. C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 68,275,535
<INVESTMENTS-AT-VALUE> 77,966,180
<RECEIVABLES> 1,499,828
<ASSETS-OTHER> 132,157
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 79,598,165
<PAYABLE-FOR-SECURITIES> 1,528,335
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 156,866
<TOTAL-LIABILITIES> 1,685,201
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 64,709,254
<SHARES-COMMON-STOCK> 6,504,965
<SHARES-COMMON-PRIOR> 1,902,293
<ACCUMULATED-NII-CURRENT> 213,787
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3,237,520
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9,752,403
<NET-ASSETS> 77,912,964
<DIVIDEND-INCOME> 319,239
<INTEREST-INCOME> 633,203
<OTHER-INCOME> 0
<EXPENSES-NET> 397,728
<NET-INVESTMENT-INCOME> 554,714
<REALIZED-GAINS-CURRENT> 3,360,901
<APPREC-INCREASE-CURRENT> 3,818,305
<NET-CHANGE-FROM-OPS> 7,733,920
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (443,970)
<DISTRIBUTIONS-OF-GAINS> (463,669)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,612,968
<NUMBER-OF-SHARES-REDEEMED> (58,133)
<SHARES-REINVESTED> 47,837
<NET-CHANGE-IN-ASSETS> 17,548,963
<ACCUMULATED-NII-PRIOR> 464,967
<ACCUMULATED-GAINS-PRIOR> 1,190,180
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 246,886
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 435,703
<AVERAGE-NET-ASSETS> 65,836,267
<PER-SHARE-NAV-BEGIN> 10.94
<PER-SHARE-NII> 0.11
<PER-SHARE-GAIN-APPREC> 1.23
<PER-SHARE-DIVIDEND> (0.15)
<PER-SHARE-DISTRIBUTIONS> (0.24)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.89
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 041
<NAME> STATE STREET RESEARCH STRATEGIC PORTFOLIOS: CONS. CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 36,469,569
<INVESTMENTS-AT-VALUE> 38,009,364
<RECEIVABLES> 1,501,969
<ASSETS-OTHER> 128,102
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,639,435
<PAYABLE-FOR-SECURITIES> 3,023,424
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 140,086
<TOTAL-LIABILITIES> 3,163,510
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 33,874,975
<SHARES-COMMON-STOCK> 50,023
<SHARES-COMMON-PRIOR> 2,617,823
<ACCUMULATED-NII-CURRENT> 231,213
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 814,138
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,555,599
<NET-ASSETS> 36,475,925
<DIVIDEND-INCOME> 70,777
<INTEREST-INCOME> 784,078
<OTHER-INCOME> 0
<EXPENSES-NET> 164,366
<NET-INVESTMENT-INCOME> 690,489
<REALIZED-GAINS-CURRENT> 840,400
<APPREC-INCREASE-CURRENT> (251,719)
<NET-CHANGE-FROM-OPS> 1,279,170
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (445,030)
<DISTRIBUTIONS-OF-GAINS> (651,838)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> (2,630,477)
<SHARES-REINVESTED> 62,677
<NET-CHANGE-IN-ASSETS> 7,406,085
<ACCUMULATED-NII-PRIOR> 303,997
<ACCUMULATED-GAINS-PRIOR> 667,786
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 93,192
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 263,087
<AVERAGE-NET-ASSETS> 31,064,000
<PER-SHARE-NAV-BEGIN> 10.56
<PER-SHARE-NII> 0.22
<PER-SHARE-GAIN-APPREC> 0.23
<PER-SHARE-DIVIDEND> (0.17)
<PER-SHARE-DISTRIBUTIONS> (0.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.59
<EXPENSE-RATIO> 1.15
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806390
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 043
<NAME> STATE STREET RESEARCH STRATEGIC PORTFOLIOS; CONS. CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1996
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 36,469,569
<INVESTMENTS-AT-VALUE> 38,009,364
<RECEIVABLES> 1,501,969
<ASSETS-OTHER> 128,102
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 39,639,435
<PAYABLE-FOR-SECURITIES> 3,023,424
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 140,086
<TOTAL-LIABILITIES> 3,163,510
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 33,874,975
<SHARES-COMMON-STOCK> 3,422,503
<SHARES-COMMON-PRIOR> 135,691
<ACCUMULATED-NII-CURRENT> 231,213
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 814,138
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,555,599
<NET-ASSETS> 36,475,925
<DIVIDEND-INCOME> 70,777
<INTEREST-INCOME> 784,078
<OTHER-INCOME> 0
<EXPENSES-NET> 164,366
<NET-INVESTMENT-INCOME> 690,489
<REALIZED-GAINS-CURRENT> 840,400
<APPREC-INCREASE-CURRENT> (251,719)
<NET-CHANGE-FROM-OPS> 1,279,170
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (318,243)
<DISTRIBUTIONS-OF-GAINS> (42,210)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,325,031
<NUMBER-OF-SHARES-REDEEMED> (47,589)
<SHARES-REINVESTED> 9,370
<NET-CHANGE-IN-ASSETS> 7,406,085
<ACCUMULATED-NII-PRIOR> 303,997
<ACCUMULATED-GAINS-PRIOR> 667,786
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 93,192
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 263,087
<AVERAGE-NET-ASSETS> 31,064,000
<PER-SHARE-NAV-BEGIN> 10.56
<PER-SHARE-NII> 0.26
<PER-SHARE-GAIN-APPREC> 0.21
<PER-SHARE-DIVIDEND> (0.28)
<PER-SHARE-DISTRIBUTIONS> (0.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.50
<EXPENSE-RATIO> 0.90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
