<PAGE> PAGE 1
000 A000000 04/30/98
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 811-4911
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 23
019 C00AA00 STATESTRES
020 A000001 MORGAN STANLEY & CO., INC
020 B000001 13-2655998
020 C000001 17
020 A000002 LEHMAN BROTHERS. INC.
020 B000002 13-2518466
020 C000002 11
<PAGE> PAGE 2
020 A000003 CS FIRST BOSTON CORP.
020 B000003 13-5659485
020 C000003 8
020 A000004 OPPENHEIMER & CO. INC.
020 B000004 13-2798343
020 C000004 7
020 A000005 INSTINET CORP
020 B000005 13-3443395
020 C000005 6
020 A000006 SMITH BARNEY INC.
020 B000006 13-1912900
020 C000006 5
020 A000007 PRUDENTIAL SECURITIES INC.
020 B000007 22-2347336
020 C000007 5
020 A000008 SANFORD C. BERNSTEIN & CO. INC.
020 B000008 13-2625874
020 C000008 4
020 A000009 PAINE WEBBER INC.
020 B000009 13-2638166
020 C000009 4
020 A000010 DONALDSON LUFKIN & JENRETTE SECURITIES
020 B000010 13-2741729
020 C000010 4
021 000000 142
022 A000001 AMERICAN EXPRESS CREDIT CORP
022 C000001 414645
022 D000001 0
022 A000002 FORD MOTOR CREDIT CORP.
022 C000002 259509
022 D000002 0
022 A000003 MERRILL LYNCH PIERCE, FENNER & SMITH INC.
022 B000003 13-5674085
022 C000003 196432
022 D000003 0
022 A000004 GENERAL ELECTRIC CAPITAL CORP
022 C000004 126940
022 D000004 0
022 A000005 HOUSEHOLD FINANCE CORP.
022 C000005 79077
022 D000005 0
022 A000006 CS FIRST BOSTON CORP.
022 C000006 56815
022 D000006 0
022 A000007 CHEVRON OIL FINANCE CORP.
022 C000007 46413
022 D000007 0
022 A000008 ASSOCIATES CORP OF NORTH AMERICA
022 C000008 45175
022 D000008 0
022 A000009 GOLDMAN SACHS & CO.
<PAGE> PAGE 3
022 B000009 13-5108880
022 C000009 30803
022 D000009 153
022 A000010 JOHN DEERE & CO.
022 C000010 25857
022 D000010 0
023 C000000 1380531
023 D000000 192
024 00AA00 Y
025 A00AA01 LEHMAN BROTHERS INC.
025 B00AA01 13-2518466
025 C00AA01 D
025 D00AA01 3959
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
077 A000000 N
078 000000 N
080 A00AA00 FEDERAL INSURANCE CO.
080 C00AA00 25000
081 A00AA00 Y
081 B00AA00 26
082 A00AA00 Y
082 B00AA00 100
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
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 7707
028 A020100 1328
028 A030100 0
028 A040100 7953
028 B010100 6480
<PAGE> PAGE 4
028 B020100 1337
028 B030100 0
028 B040100 10176
028 C010100 7330
028 C020100 1690
028 C030100 0
028 C040100 13126
028 D010100 6670
028 D020100 1342
028 D030100 0
028 D040100 9162
028 E010100 6796
028 E020100 1346
028 E030100 0
028 E040100 15306
028 F010100 2231
028 F020100 4492
028 F030100 0
028 F040100 11829
028 G010100 37214
028 G020100 11535
028 G030100 0
028 G040100 67552
028 H000100 17401
029 000100 Y
030 A000100 218
030 B000100 4.50
030 C000100 0.00
031 A000100 27
031 B000100 0
032 000100 55
033 000100 136
034 000100 Y
035 000100 104
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 98
042 E000100 2
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 1223
044 000100 691
<PAGE> PAGE 5
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 1.1
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 42.7
062 N000100 29.7
062 O000100 0.0
062 P000100 0.0
062 Q000100 26.5
062 R000100 0.0
063 A000100 0
063 B000100 9.7
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
071 A000100 448914
071 B000100 477790
071 C000100 656288
071 D000100 68
072 A000100 6
072 B000100 24586
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 2148
072 G000100 0
072 H000100 0
072 I000100 348
072 J000100 128
072 K000100 0
072 L000100 29
072 M000100 22
072 N000100 12
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 22
072 S000100 25
072 T000100 1223
<PAGE> PAGE 6
072 U000100 0
072 V000100 0
072 W000100 0
072 X000100 3957
072 Y000100 0
072 Z000100 20629
072AA000100 10525
072BB000100 0
072CC010100 0
072CC020100 10295
072DD010100 20941
072DD020100 0
072EE000100 0
073 A010100 0.4200
073 A020100 0.3600
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 0
074 C000100 59725
074 D000100 644090
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 67885
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 11172
074 M000100 21
074 N000100 782893
074 O000100 59010
074 P000100 875
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 71661
074 S000100 0
074 T000100 651347
074 U010100 51523
074 U020100 0
074 V010100 12.65
074 V020100 12.61
074 W000100 0.0000
074 X000100 17287
074 Y000100 0
075 A000100 0
075 B000100 660837
076 000100 0.00
028 A010200 728
<PAGE> PAGE 7
028 A020200 0
028 A030200 0
028 A040200 591
028 B010200 765
028 B020200 5980
028 B030200 0
028 B040200 642
028 C010200 703
028 C020200 0
028 C030200 0
028 C040200 3330
028 D010200 521
028 D020200 0
028 D030200 0
028 D040200 4593
028 E010200 588
028 E020200 189
028 E030200 0
028 E040200 845
028 F010200 648
028 F020200 0
028 F030200 0
028 F040200 1141
028 G010200 3953
028 G020200 6169
028 G030200 0
028 G040200 11142
028 H000200 0
029 000200 N
030 A000200 0
030 B000200 0.00
030 C000200 0.00
031 A000200 0
031 B000200 0
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 N
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
<PAGE> PAGE 8
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 3.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 12.8
062 N000200 9.1
062 O000200 0.0
062 P000200 7.6
062 Q000200 17.3
062 R000200 50.2
063 A000200 0
063 B000200 8.3
064 A000200 N
064 B000200 N
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
071 A000200 14949
071 B000200 19505
071 C000200 49727
071 D000200 30
072 A000200 6
072 B000200 916
072 C000200 129
072 D000200 0
072 E000200 0
072 F000200 168
072 G000200 0
072 H000200 0
072 I000200 100
072 J000200 67
072 K000200 0
<PAGE> PAGE 9
072 L000200 24
072 M000200 9
072 N000200 17
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 12
072 S000200 0
072 T000200 0
072 U000200 8
072 V000200 0
072 W000200 1
072 X000200 406
072 Y000200 148
072 Z000200 787
072AA000200 2878
072BB000200 0
072CC010200 1462
072CC020200 0
072DD010200 973
072DD020200 0
072EE000200 5543
073 A010200 0.2200
073 A020200 0.0000
073 B000200 1.2500
073 C000200 0.0000
074 A000200 0
074 B000200 0
074 C000200 3494
074 D000200 23919
074 E000200 0
074 F000200 25616
074 G000200 0
074 H000200 0
074 I000200 10629
074 J000200 553
074 K000200 51
074 L000200 438
074 M000200 25
074 N000200 64725
074 O000200 2646
074 P000200 161
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 10831
074 S000200 0
074 T000200 51087
074 U010200 4356
074 U020200 0
<PAGE> PAGE 10
074 V010200 11.73
074 V020200 0.00
074 W000200 0.0000
074 X000200 8
074 Y000200 0
075 A000200 0
075 B000200 51609
076 000200 0.00
028 A010300 922
028 A020300 0
028 A030300 0
028 A040300 1033
028 B010300 2263
028 B020300 11374
028 B030300 0
028 B040300 2074
028 C010300 901
028 C020300 0
028 C030300 0
028 C040300 17199
028 D010300 1005
028 D020300 0
028 D030300 0
028 D040300 5069
028 E010300 747
028 E020300 0
028 E030300 0
028 E040300 447
028 F010300 493
028 F020300 0
028 F030300 0
028 F040300 546
028 G010300 6331
028 G020300 11374
028 G030300 0
028 G040300 26368
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
<PAGE> PAGE 11
040 000300 Y
041 000300 N
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
042 G000300 0
042 H000300 0
043 000300 0
044 000300 0
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 4.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 4.9
062 N000300 2.7
062 O000300 0.0
062 P000300 7.6
062 Q000300 6.6
062 R000300 74.2
063 A000300 0
063 B000300 8.5
064 A000300 N
064 B000300 N
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 Y
067 000300 Y
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 40745
071 B000300 57351
071 C000300 66052
071 D000300 62
072 A000300 6
072 B000300 695
<PAGE> PAGE 12
072 C000300 236
072 D000300 0
072 E000300 0
072 F000300 256
072 G000300 0
072 H000300 0
072 I000300 67
072 J000300 69
072 K000300 0
072 L000300 15
072 M000300 10
072 N000300 4
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 13
072 S000300 0
072 T000300 0
072 U000300 4
072 V000300 0
072 W000300 0
072 X000300 438
072 Y000300 62
072 Z000300 555
072AA000300 4954
072BB000300 0
072CC010300 2708
072CC020300 0
072DD010300 914
072DD020300 0
072EE000300 11099
073 A010300 0.1600
073 A020300 0.0000
073 B000300 1.8800
073 C000300 0.0000
074 A000300 92
074 B000300 0
074 C000300 2898
074 D000300 14236
074 E000300 0
074 F000300 48438
074 G000300 0
074 H000300 0
074 I000300 16250
074 J000300 475
074 K000300 23
074 L000300 467
074 M000300 52
074 N000300 82931
074 O000300 1053
074 P000300 92
<PAGE> PAGE 13
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 16491
074 S000300 0
074 T000300 65295
074 U010300 5149
074 U020300 0
074 V010300 12.68
074 V020300 0.00
074 W000300 0.0000
074 X000300 5
074 Y000300 0
075 A000300 0
075 B000300 68249
076 000300 0.00
028 A010400 622
028 A020400 0
028 A030400 0
028 A040400 251
028 B010400 534
028 B020400 2981
028 B030400 0
028 B040400 268
028 C010400 443
028 C020400 0
028 C030400 0
028 C040400 1669
028 D010400 308
028 D020400 0
028 D030400 0
028 D040400 2670
028 E010400 257
028 E020400 103
028 E030400 0
028 E040400 231
028 F010400 327
028 F020400 0
028 F030400 0
028 F040400 396
028 G010400 2491
028 G020400 3084
028 G030400 0
028 G040400 5485
028 H000400 0
029 000400 N
030 A000400 0
030 B000400 0.00
030 C000400 0.00
031 A000400 0
<PAGE> PAGE 14
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 N
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 0
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 0
044 000400 0
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 2.2
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 20.2
062 N000400 17.5
062 O000400 0.0
062 P000400 5.9
062 Q000400 27.3
062 R000400 26.9
063 A000400 0
063 B000400 9.0
064 A000400 N
064 B000400 N
066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 Y
067 000400 Y
<PAGE> PAGE 15
068 A000400 N
068 B000400 N
069 000400 N
071 A000400 29395
071 B000400 31416
071 C000400 36661
071 D000400 80
072 A000400 6
072 B000400 931
072 C000400 59
072 D000400 0
072 E000400 0
072 F000400 113
072 G000400 0
072 H000400 0
072 I000400 35
072 J000400 51
072 K000400 0
072 L000400 9
072 M000400 10
072 N000400 6
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 11
072 S000400 1
072 T000400 0
072 U000400 4
072 V000400 0
072 W000400 1
072 X000400 241
072 Y000400 72
072 Z000400 821
072AA000400 1368
072BB000400 0
072CC010400 413
072CC020400 0
072DD010400 1032
072DD020400 0
072EE000400 2736
073 A010400 0.3000
073 A020400 0.0000
073 B000400 0.7900
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 3009
074 D000400 26516
074 E000400 0
074 F000400 10059
074 G000400 0
<PAGE> PAGE 16
074 H000400 0
074 I000400 3941
074 J000400 592
074 K000400 24
074 L000400 361
074 M000400 33
074 N000400 44535
074 O000400 2933
074 P000400 49
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 4128
074 S000400 0
074 T000400 37425
074 U010400 3412
074 U020400 0
074 V010400 10.97
074 V020400 0.00
074 W000400 0.0000
074 X000400 5
074 Y000400 0
075 A000400 0
075 B000400 37631
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-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 763,165,743
<INVESTMENTS-AT-VALUE> 771,699,989
<RECEIVABLES> 11,171,563
<ASSETS-OTHER> 21,065
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 782,892,617
<PAYABLE-FOR-SECURITIES> 59,010,424
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 72,535,338
<TOTAL-LIABILITIES> 131,545,762
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 669,748,443
<SHARES-COMMON-STOCK> 39,929,896
<SHARES-COMMON-PRIOR> 41,460,715
<ACCUMULATED-NII-CURRENT> 2,026,381
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (29,164,919)
<ACCUM-APPREC-OR-DEPREC> 8,736,950
<NET-ASSETS> 651,346,855
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 24,586,431
<OTHER-INCOME> 0
<EXPENSES-NET> 3,957,590
<NET-INVESTMENT-INCOME> 20,628,841
<REALIZED-GAINS-CURRENT> 10,524,568
<APPREC-INCREASE-CURRENT> (10,294,513)
<NET-CHANGE-FROM-OPS> 20,858,896
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (16,564,162)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,324,058
<NUMBER-OF-SHARES-REDEEMED> (3,569,046)
<SHARES-REINVESTED> 714,169
<NET-CHANGE-IN-ASSETS> (18,885,867)
<ACCUMULATED-NII-PRIOR> 2,339,029
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (39,689,487)
<GROSS-ADVISORY-FEES> 2,147,719
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,957,590
<AVERAGE-NET-ASSETS> 660,836,615
<PER-SHARE-NAV-BEGIN> 12.65
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> (0.41)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.65
<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-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 763,165,743
<INVESTMENTS-AT-VALUE> 771,699,989
<RECEIVABLES> 11,171,563
<ASSETS-OTHER> 21,065
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 782,892,617
<PAYABLE-FOR-SECURITIES> 59,010,424
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 72,535,338
<TOTAL-LIABILITIES> 131,545,762
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 669,748,443
<SHARES-COMMON-STOCK> 8,071,630
<SHARES-COMMON-PRIOR> 7,709,687
<ACCUMULATED-NII-CURRENT> 2,026,381
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (29,164,919)
<ACCUM-APPREC-OR-DEPREC> 8,736,950
<NET-ASSETS> 651,346,855
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 24,586,431
<OTHER-INCOME> 0
<EXPENSES-NET> 3,957,590
<NET-INVESTMENT-INCOME> 20,628,841
<REALIZED-GAINS-CURRENT> 10,524,568
<APPREC-INCREASE-CURRENT> (10,294,513)
<NET-CHANGE-FROM-OPS> 20,858,896
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (2,854,086)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,247,647
<NUMBER-OF-SHARES-REDEEMED> (1,033,304)
<SHARES-REINVESTED> 147,600
<NET-CHANGE-IN-ASSETS> (18,885,867)
<ACCUMULATED-NII-PRIOR> 2,339,029
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (39,689,487)
<GROSS-ADVISORY-FEES> 2,147,719
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,957,590
<AVERAGE-NET-ASSETS> 660,836,615
<PER-SHARE-NAV-BEGIN> 12.61
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> (0.36)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.61
<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 S
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 763,165,743
<INVESTMENTS-AT-VALUE> 771,699,989
<RECEIVABLES> 11,171,563
<ASSETS-OTHER> 21,065
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 782,892,617
<PAYABLE-FOR-SECURITIES> 59,010,424
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 72,535,338
<TOTAL-LIABILITIES> 131,545,762
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 669,748,443
<SHARES-COMMON-STOCK> 2,182,040
<SHARES-COMMON-PRIOR> 2,540,378
<ACCUMULATED-NII-CURRENT> 2,026,381
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (29,164,919)
<ACCUM-APPREC-OR-DEPREC> 8,736,950
<NET-ASSETS> 651,346,855
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 24,586,431
<OTHER-INCOME> 0
<EXPENSES-NET> 3,957,590
<NET-INVESTMENT-INCOME> 20,628,841
<REALIZED-GAINS-CURRENT> 10,524,568
<APPREC-INCREASE-CURRENT> (10,294,513)
<NET-CHANGE-FROM-OPS> 20,858,896
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,052,868)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 128,416
<NUMBER-OF-SHARES-REDEEMED> (512,277)
<SHARES-REINVESTED> 25,523
<NET-CHANGE-IN-ASSETS> (18,885,867)
<ACCUMULATED-NII-PRIOR> 2,339,029
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (39,689,487)
<GROSS-ADVISORY-FEES> 2,147,719
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,957,590
<AVERAGE-NET-ASSETS> 660,836,615
<PER-SHARE-NAV-BEGIN> 12.64
<PER-SHARE-NII> 0.42
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.42)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.64
<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 FUND CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 763,165,743
<INVESTMENTS-AT-VALUE> 771,699,989
<RECEIVABLES> 11,171,563
<ASSETS-OTHER> 21,065
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 782,892,617
<PAYABLE-FOR-SECURITIES> 59,010,424
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 72,535,338
<TOTAL-LIABILITIES> 131,545,762
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 669,748,443
<SHARES-COMMON-STOCK> 1,339,239
<SHARES-COMMON-PRIOR> 1,291,316
<ACCUMULATED-NII-CURRENT> 2,026,381
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (29,164,919)
<ACCUM-APPREC-OR-DEPREC> 8,736,950
<NET-ASSETS> 651,346,855
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 24,586,431
<OTHER-INCOME> 0
<EXPENSES-NET> 3,957,590
<NET-INVESTMENT-INCOME> 20,628,841
<REALIZED-GAINS-CURRENT> 10,524,568
<APPREC-INCREASE-CURRENT> (10,294,513)
<NET-CHANGE-FROM-OPS> 20,858,896
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (470,373)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 239,256
<NUMBER-OF-SHARES-REDEEMED> (214,550)
<SHARES-REINVESTED> 23,217
<NET-CHANGE-IN-ASSETS> (18,885,867)
<ACCUMULATED-NII-PRIOR> 2,339,029
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (39,689,487)
<GROSS-ADVISORY-FEES> 2,147,719
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,957,590
<AVERAGE-NET-ASSETS> 660,836,615
<PER-SHARE-NAV-BEGIN> 12.62
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> 0.01
<PER-SHARE-DIVIDEND> (0.36)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.62
<EXPENSE-RATIO> 1.83
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000878059
<NAME> STATE STREET RESEARCH FINANCIAL TRUST
<SERIES>
<NUMBER> 023
<NAME> STATE STREET RESEARCH STRATEGIC PORTFOLIOS: MODERATE CL. S
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 57,709,991
<INVESTMENTS-AT-VALUE> 63,657,925
<RECEIVABLES> 1,041,606
<ASSETS-OTHER> 25,560
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 64,725,091
<PAYABLE-FOR-SECURITIES> 2,645,607
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10,992,740
<TOTAL-LIABILITIES> 13,638,347
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 42,003,223
<SHARES-COMMON-STOCK> 4,355,647
<SHARES-COMMON-PRIOR> 4,428,943
<ACCUMULATED-NII-CURRENT> 262,841
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,829,015
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5,991,665
<NET-ASSETS> 51,086,744
<DIVIDEND-INCOME> 128,476
<INTEREST-INCOME> 916,365
<OTHER-INCOME> 0
<EXPENSES-NET> 258,046
<NET-INVESTMENT-INCOME> 786,795
<REALIZED-GAINS-CURRENT> 2,877,570
<APPREC-INCREASE-CURRENT> 1,462,085
<NET-CHANGE-FROM-OPS> 5,126,450
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (973,191)
<DISTRIBUTIONS-OF-GAINS> (5,543,465)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 343,493
<NUMBER-OF-SHARES-REDEEMED> (993,952)
<SHARES-REINVESTED> 577,163
<NET-CHANGE-IN-ASSETS> (2,410,889)
<ACCUMULATED-NII-PRIOR> 449,237
<ACCUMULATED-GAINS-PRIOR> 5,494,910
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 167,730
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 406,469
<AVERAGE-NET-ASSETS> 51,609,231
<PER-SHARE-NAV-BEGIN> 12.08
<PER-SHARE-NII> 0.17
<PER-SHARE-GAIN-APPREC> 0.95
<PER-SHARE-DIVIDEND> (0.22)
<PER-SHARE-DISTRIBUTIONS> (1.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.73
<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> 033
<NAME> STATE STREET RESEARCH STRATEGIC PORTFOLIOS: AGGRESSIVE CL. S
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 70,115,497
<INVESTMENTS-AT-VALUE> 81,821,784
<RECEIVABLES> 964,602
<ASSETS-OTHER> 144,920
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 82,931,306
<PAYABLE-FOR-SECURITIES> 1,053,034
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 16,583,239
<TOTAL-LIABILITIES> 17,636,273
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 48,498,398
<SHARES-COMMON-STOCK> 5,149,249
<SHARES-COMMON-PRIOR> 5,900,731
<ACCUMULATED-NII-CURRENT> 115,574
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4,879,967
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11,801,094
<NET-ASSETS> 65,295,033
<DIVIDEND-INCOME> 236,215
<INTEREST-INCOME> 694,552
<OTHER-INCOME> 0
<EXPENSES-NET> 375,368
<NET-INVESTMENT-INCOME> 555,399
<REALIZED-GAINS-CURRENT> 4,954,178
<APPREC-INCREASE-CURRENT> 2,708,087
<NET-CHANGE-FROM-OPS> 8,217,664
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (913,651)
<DISTRIBUTIONS-OF-GAINS> (11,099,159)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 529,405
<NUMBER-OF-SHARES-REDEEMED> (2,318,670)
<SHARES-REINVESTED> 1,037,783
<NET-CHANGE-IN-ASSETS> (12,457,987)
<ACCUMULATED-NII-PRIOR> 473,826
<ACCUMULATED-GAINS-PRIOR> 11,024,948
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 255,932
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 437,276
<AVERAGE-NET-ASSETS> 68,248,533
<PER-SHARE-NAV-BEGIN> 13.18
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 1.44
<PER-SHARE-DIVIDEND> (0.16)
<PER-SHARE-DISTRIBUTIONS> (1.88)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.68
<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> 043
<NAME> STATE STREET RESEARCH STRATEGIC PORTFOLIOS: CONS CLASS S
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1998
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 40,943,790
<INVESTMENTS-AT-VALUE> 43,525,225
<RECEIVABLES> 977,124
<ASSETS-OTHER> 32,789
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 44,535,138
<PAYABLE-FOR-SECURITIES> 2,933,111
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,177,076
<TOTAL-LIABILITIES> 7,110,187
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 33,271,540
<SHARES-COMMON-STOCK> 3,412,189
<SHARES-COMMON-PRIOR> 3,401,702
<ACCUMULATED-NII-CURRENT> 248,260
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,293,866
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,611,285
<NET-ASSETS> 37,424,951
<DIVIDEND-INCOME> 59,592
<INTEREST-INCOME> 930,921
<OTHER-INCOME> 0
<EXPENSES-NET> 169,340
<NET-INVESTMENT-INCOME> 821,173
<REALIZED-GAINS-CURRENT> 1,367,838
<APPREC-INCREASE-CURRENT> 413,108
<NET-CHANGE-FROM-OPS> 2,602,119
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,031,703)
<DISTRIBUTIONS-OF-GAINS> (2,735,915)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 227,071
<NUMBER-OF-SHARES-REDEEMED> (512,448)
<SHARES-REINVESTED> 295,864
<NET-CHANGE-IN-ASSETS> (1,075,748)
<ACCUMULATED-NII-PRIOR> 458,790
<ACCUMULATED-GAINS-PRIOR> 2,661,943
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 112,893
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 241,058
<AVERAGE-NET-ASSETS> 37,631,000
<PER-SHARE-NAV-BEGIN> 11.32
<PER-SHARE-NII> 0.24
<PER-SHARE-GAIN-APPREC> 0.50
<PER-SHARE-DIVIDEND> (0.30)
<PER-SHARE-DISTRIBUTIONS> (0.79)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.97
<EXPENSE-RATIO> 0.90
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
