<PAGE> PAGE 1
000 B000000 12/31/96
000 C000000 0000806591
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 PAINEWEBBER SERIES TRUST
001 B000000 811-4919
001 C000000 2127131074
002 A000000 1285 AVENUE OF THE AMERICAS
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10019
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 9
007 C010100 1
007 C020100 MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 GROWTH PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 GLOBAL GROWTH PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 GLOBAL INCOME PORTFOLIO
007 C030400 N
007 C010500 5
007 C020500 STRATEGIC FIXED INCOME PORTFOLIO
007 C030500 N
007 C010600 6
007 C020600 BALANCED PORTFOLIO(FORMERLY ASSET ALLOCATION)
007 C030600 N
007 C010700 7
007 C020700 GROWTH AND INCOME PORTFOLIO
007 C030700 N
007 C010800 8
007 C020800 AGGRESSIVE GROWTH PORTFOLIO
007 C030800 N
007 C010900 9
007 C011000 10
007 C021000 HIGH GRADE FIXED INCOME PORTFOLIO
007 C031000 N
007 C011100 11
<PAGE> PAGE 2
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
007 C015100 51
007 C015200 52
007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
010 A00AA01 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
010 B00AA01 811-4919
<PAGE> PAGE 3
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10019
011 A00AA01 PAINEWEBBER INC.
011 B00AA01 8-16267
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10019
012 A00AA01 PFPC INC.
012 B00AA01 84-00000
012 C01AA01 WILMINGTON
012 C02AA01 DE
012 C03AA01 19809
013 A00AA01 ERNST & YOUNG
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 PAINEWEBBER INC.
014 B00AA01 8-16267
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 63
019 C00AA00 PAINEWEBBE
020 A000001 MERRILL LYNCH
020 B000001 13-5674085
020 C000001 22
020 A000002 GOLDMAN SACHS
020 B000002 13-5108880
020 C000002 14
020 A000003 BEAR STEARNS
020 B000003 13-3299429
020 C000003 14
020 A000004 SALOMON BROTHERS
020 B000004 13-3082694
020 C000004 13
020 A000005 MORGAN STANLEY
020 B000005 13-2655998
020 C000005 13
020 A000006 CITATION FINANCIAL GROUP, L.P.
020 C000006 11
020 A000007 AUTRANET INCORPORATED
020 B000007 13-2961507
020 C000007 10
020 A000008 BRIDGE DATA
020 B000008 43-1450530
020 C000008 9
020 A000009 LEWCO SECURITIES
020 B000009 13-2952179
020 C000009 9
020 A000010 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP
020 B000010 13-2741729
<PAGE> PAGE 4
020 C000010 8
021 000000 264
022 A000001 STATE STREET BANK & TRUST
022 B000001 13-3355129
022 C000001 565636
022 D000001 7902
022 A000002 BROWN BROTHERS
022 B000002 13-5674085
022 C000002 115027
022 D000002 150821
022 A000003 GOLDMAN SACHS
022 B000003 13-5108880
022 C000003 177530
022 D000003 19407
022 A000004 GX CLARKE
022 B000004 13-2969143
022 C000004 136764
022 D000004 53228
022 A000005 MERRILL LYNCH
022 B000005 13-5674085
022 C000005 142774
022 D000005 39775
022 A000006 JP MORGAN SECURITIES
022 B000006 13-3224016
022 C000006 60842
022 D000006 0
022 A000007 SALOMAN BROTHERS
022 B000007 13-3082694
022 C000007 30968
022 D000007 14620
022 A000008 FIRST CHICAGO CAPITAL CORP.
022 B000008 36-3595942
022 C000008 33256
022 D000008 2696
022 A000009 LEHMAN BROTHERS
022 B000009 13-2518466
022 C000009 27568
022 D000009 6712
022 A000010 MORGAN STANLEY
022 B000010 13-2655998
022 C000010 19432
022 D000010 9574
023 C000000 1552798
023 D000000 438878
024 00AA00 N
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
<PAGE> PAGE 5
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
055 A00AA00 Y
<PAGE> PAGE 6
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 Y
058 B00AA00 Y
058 C00AA00 N
058 D00AA00 N
058 E00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
077 A000000 Y
077 C000000 N
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 Y
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE
080 C00AA00 40000
081 A00AA00 Y
081 B00AA00 69
082 B00AA00 0
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
<PAGE> PAGE 7
086 E020000 0
086 F010000 0
086 F020000 0
008 A000101 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000101 A
008 C000101 801-13219
008 D010101 NEW YORK
008 D020101 NY
008 D030101 10019
015 A000101 STATE STREET BANK AND TRUST CO.
015 B000101 C
015 C010101 BOSTON
015 C020101 MA
015 C030101 02171
015 E010101 X
025 D000101 0
025 D000102 0
025 D000103 0
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 856
028 A020100 48
028 A030100 0
028 A040100 860
028 B010100 311
028 B020100 57
028 B030100 0
028 B040100 1639
028 C010100 655
028 C020100 49
028 C030100 0
028 C040100 1479
028 D010100 680
028 D020100 46
028 D030100 0
028 D040100 458
028 E010100 853
028 E020100 43
028 E030100 0
028 E040100 889
028 F010100 469
028 F020100 43
028 F030100 0
028 F040100 1341
028 G010100 3824
028 G020100 286
028 G030100 0
028 G040100 6666
<PAGE> PAGE 8
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.500
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
062 A000100 Y
062 B000100 0.0
062 C000100 2.4
062 D000100 1.6
062 E000100 0.0
062 F000100 0.0
062 G000100 2.0
062 H000100 7.7
062 I000100 73.6
062 J000100 0.0
062 K000100 0.0
062 L000100 12.2
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 41
063 B000100 0.0
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
<PAGE> PAGE 9
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 Y
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 Y
070 Q020100 N
070 R010100 Y
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 12
072 B000100 862
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 79
072 G000100 0
072 H000100 0
<PAGE> PAGE 10
072 I000100 2
072 J000100 31
072 K000100 0
072 L000100 20
072 M000100 9
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 21
072 S000100 21
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 2
072 X000100 185
072 Y000100 0
072 Z000100 677
072AA000100 5
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 677
072DD020100 0
072EE000100 0
073 A010100 0.0400
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 699
074 B000100 195
074 C000100 12045
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 108
074 M000100 0
074 N000100 13047
074 O000100 695
074 P000100 5
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 60
074 S000100 0
<PAGE> PAGE 11
074 T000100 12287
074 U010100 12296
074 U020100 0
074 V010100 1.00
074 V020100 0.00
074 W000100 0.9993
074 X000100 0
074 Y000100 0
075 A000100 15857
075 B000100 0
076 000100 0.00
008 A000201 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000201 A
008 C000201 801-13219
008 D010201 NY
008 D020201 NY
008 D030201 10019
015 A000201 STATE STREET BANK AND TRUST CO.
015 B000201 C
015 C010201 BOSTON
015 C020201 MA
015 C030201 02171
015 E010201 X
028 A010200 308
028 A020200 0
028 A030200 0
028 A040200 1315
028 B010200 193
028 B020200 12
028 B030200 0
028 B040200 593
028 C010200 1559
028 C020200 0
028 C030200 0
028 C040200 1269
028 D010200 411
028 D020200 0
028 D030200 0
028 D040200 626
028 E010200 240
028 E020200 0
028 E030200 0
028 E040200 1049
028 F010200 401
028 F020200 0
028 F030200 0
028 F040200 840
028 G010200 3112
028 G020200 12
028 G030200 0
028 G040200 5692
<PAGE> PAGE 12
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.750
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
062 A000200 N
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 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 0
063 B000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 Y
<PAGE> PAGE 13
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 Y
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 Y
070 L020200 Y
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 Y
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 Y
070 Q020200 N
070 R010200 Y
070 R020200 N
071 A000200 21202
071 B000200 28538
071 C000200 40057
071 D000200 53
072 A000200 12
072 B000200 205
072 C000200 162
072 D000200 0
<PAGE> PAGE 14
072 E000200 0
072 F000200 325
072 G000200 0
072 H000200 0
072 I000200 1
072 J000200 56
072 K000200 0
072 L000200 43
072 M000200 9
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 28
072 S000200 25
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 6
072 X000200 493
072 Y000200 0
072 Z000200 -126
072AA000200 6920
072BB000200 0
072CC010200 493
072CC020200 0
072DD010200 0
072DD020200 0
072EE000200 6899
073 A010200 0.0000
073 A020200 0.0000
073 B000200 3.3200
073 C000200 0.0000
074 A000200 2
074 B000200 840
074 C000200 1990
074 D000200 0
074 E000200 176
074 F000200 40383
074 G000200 0
074 H000200 0
074 I000200 1829
074 J000200 46
074 K000200 0
074 L000200 16
074 M000200 1
074 N000200 45283
074 O000200 121
074 P000200 27
074 Q000200 0
074 R010200 0
<PAGE> PAGE 15
074 R020200 0
074 R030200 0
074 R040200 8778
074 S000200 0
074 T000200 36357
074 U010200 2080
074 U020200 0
074 V010200 17.48
074 V020200 0.00
074 W000200 0.0000
074 X000200 0
074 Y000200 0
075 A000200 0
075 B000200 43342
076 000200 0.00
008 A000301 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000301 A
008 C000301 801-13219
008 D010301 NY
008 D020301 NY
008 D030301 10019
008 A000302 GE INVESTMENT MANAGEMENT
008 B000302 S
008 C000302 801-00000
008 D010302 STAMFORD
008 D020302 CT
008 D030302 06904
008 D040302 7900
015 A000301 STATE STREET BANK & TRUST
015 B000301 C
015 C010301 BOSTON
015 C020301 MA
015 C030301 02171
015 E010301 X
015 A000302 CITIBANK N.A.
015 B000302 S
015 C010302 BUENOS AIRES
015 D010302 ARGENTINA
015 D020302 1036
015 E040302 X
015 A000303 WESTPAC CUSTODIAN NOMINEES
015 B000303 S
015 C010303 SYDNEY
015 D010303 AUSTRALIA
015 D020303 3000
015 E040303 X
015 A000304 GIROCREDIT BANK
015 B000304 S
015 C010304 VIENNA
015 D010304 AUSTRIA
015 D020304 A-1090
<PAGE> PAGE 16
015 E040304 X
015 A000305 STANDARD CHARTERED BANK
015 B000305 S
015 C010305 DHAKA
015 D010305 BANGLADESH
015 D020305 1000
015 E040305 X
015 A000306 MORGAN GUARANTY TRUST CO. OF NEW YORK
015 B000306 S
015 C010306 BRUSSELS
015 D010306 BELGIUM
015 D020306 B-1040
015 E040306 X
015 A000307 CITIBANK
015 B000307 S
015 C010307 SAO PAULO
015 D010307 BRAZIL
015 D020307 01009
015 E040307 X
015 A000308 CANADA TRUST COMPANY
015 B000308 S
015 C010308 TORONTO
015 D010308 CANADA
015 D020308 M51 1A2
015 E040308 X
015 A000309 CITIBANK,N.A.
015 B000309 S
015 C010309 SANTIAGO
015 D010309 CHILE
015 E040309 X
015 A000310 HONGKONG AND SHANGHAI BANK
015 B000310 S
015 C010310 SHANGHAI
015 D010310 CHINA
015 D020310 2000085
015 E040310 X
015 A000311 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
015 B000311 S
015 C010311 BOGATA
015 D010311 COLOMBIA
015 E040311 X
015 A000312 DEN DANSKE BANK
015 B000312 S
015 C010312 COPENHAGEN
015 D010312 DENMARK
015 D020312 DK-1092
015 E040312 X
015 A000313 MERITA BANK
015 B000313 S
015 C010313 HELSINKI
015 D010313 FINLAND
<PAGE> PAGE 17
015 D020313 SF-00101
015 E040313 X
015 A000314 BANQUE PARIBAS
015 B000314 S
015 C010314 PARIS
015 D010314 FRANCE
015 D020314 75001
015 E040314 X
015 A000315 DRESDNER BANK
015 B000315 S
015 C010315 FRANKFURT
015 D010315 GERMANY
015 D020315 D-6000
015 E040315 X
015 A000316 NATIONAL BANK OF GREECE
015 B000316 S
015 C010316 ATHENS
015 D010316 GREECE
015 D020316 GR-10557
015 E040316 X
015 A000317 STANDARD CHARTERED
015 B000317 S
015 C010317 HONG KONG
015 D010317 HONG KONG
015 E040317 X
015 A000318 CITIBANK, N.A.
015 B000318 S
015 C010318 BUDAPEST
015 D010318 HUNGARY
015 D020318 H-1052
015 E040318 X
015 A000319 HONKKONG AND SHANGHAI
015 B000319 S
015 C010319 MUMBAI
015 D010319 INDIA
015 D020319 400-018
015 E040319 X
015 A000320 STANDARD CHARTERED
015 B000320 S
015 C010320 JAKARTA
015 D010320 INDONESIA
015 D020320 12910
015 E040320 X
015 A000321 BANK OF IRELAND
015 B000321 S
015 C010321 DUBLIN
015 D010321 IRELAND
015 E040321 X
015 A000322 BANK HAPOALIM, B.M.
015 B000322 S
015 C010322 TEL AVIV
<PAGE> PAGE 18
015 D010322 ISRAEL
015 E040322 X
015 A000323 BANQUE PARIBUS
015 B000323 S
015 C010323 MILAN
015 D010323 ITALY
015 D020323 20121
015 E040323 X
015 A000324 SUMITOMO TRUST & BANKING COMPANY, LTD.
015 B000324 S
015 C010324 TOKYO
015 D010324 JAPAN
015 D020324 100
015 E040324 X
015 A000325 SEOUL BANK
015 B000325 S
015 C010325 SEOUL
015 D010325 KOREA
015 D020325 110
015 E040325 X
015 A000326 STANDARD CHARTERED
015 B000326 S
015 C010326 KUALA LAMPUR
015 D010326 MALAYSIA
015 E040326 X
015 A000327 CITIBANK, N.A.
015 B000327 S
015 C010327 MEXICO CITY
015 D010327 MEXICO
015 D020327 06695
015 E040327 X
015 A000328 MEESPIERSON
015 B000328 S
015 C010328 AMSTERDAM
015 D010328 NETHERLANDS
015 E040328 X
015 A000329 ANZ
015 B000329 S
015 C010329 WELLINGTON
015 D010329 NEW ZEALAND
015 D020329 1036
015 E040329 X
015 A000330 CHRISTIANIA
015 B000330 S
015 C010330 OSLO
015 D010330 NORWAY
015 E040330 X
015 A000331 DEUTSCHE BANK
015 B000331 S
015 C010331 KARACHI
015 D010331 PAKISTAN
<PAGE> PAGE 19
015 E040331 X
015 A000332 CITIBANK, N.A.
015 B000332 S
015 C010332 LIMA
015 D010332 PERU
015 D020332 27
015 E040332 X
015 A000333 STANDARD CHARTERED
015 B000333 S
015 C010333 MANILA
015 D010333 PHILIPPINES
015 E040333 X
015 A000334 CITIBANK POLAND, S.A.
015 B000334 S
015 C010334 WARSAW
015 D010334 POLAND
015 D020334 00-082
015 E040334 X
015 A000335 BANCO COMMERCIALE PORTUGEUS
015 B000335 S
015 C010335 LIBSON
015 D010335 PORTUGAL
015 E040335 X
015 A000336 DBS
015 B000336 S
015 C010336 SINGAPORE
015 D010336 SINGAPORE
015 E040336 X
015 A000337 THE STANDARD BANK OF SOUTH AFRICA
015 B000337 S
015 C010337 JOHANNESBURG
015 D010337 SOUTH AFRICA
015 E040337 X
015 A000338 BANCO SANTANDER
015 B000338 S
015 C010338 MADRID
015 D010338 SPAIN
015 E040338 X
015 A000339 HONG KONG SHANGHAI BANKING CORP
015 B000339 S
015 C010339 COLOMBO
015 D010339 SRI LANKA
015 E040339 X
015 A000340 SKANDINAVISKA ENSKILDA BANKEN
015 B000340 S
015 C010340 STOCKHOLM
015 D010340 SWEDEN
015 E040340 X
015 A000341 UNION BANK OF SWITZERLAND
015 B000341 S
015 C010341 ZURICH
<PAGE> PAGE 20
015 D010341 SWITZERLAND
015 D020341 CH-4002
015 E040341 X
015 A000342 CENTRAL TRUST OF CHINA
015 B000342 S
015 C010342 TAIPEI
015 D010342 TAIWAN
015 E040342 X
015 A000343 STANDARD CHARTERED
015 B000343 S
015 C010343 BANGKOK
015 D010343 THAILAND
015 D020343 10500
015 E040343 X
015 A000344 CITIBANK, N.A.
015 B000344 S
015 C010344 ISTANBUL
015 D010344 TURKEY
015 D020344 80200
015 E040344 X
015 A000345 BARCLAYS GLOBAL SECURITIES SERVICES
015 B000345 S
015 C010345 LONDON
015 D010345 UNITED KINGDOM
015 D020345 EC4YOJT
015 E040345 X
015 A000346 CITIBANK, N.A.
015 B000346 S
015 C010346 MONTEVIDEO
015 D010346 URUGUAY
015 E040346 X
015 A000347 CITIBANK, N.A.
015 B000347 S
015 C010347 CARACAS
015 D010347 VENEZUELA
015 D020347 1010
015 E040347 X
015 A000348 DELETE
015 A000349 DELETE
015 A000350 DELETE
015 A000351 DELETE
015 A000352 DELETE
015 A000353 DELETE
015 A000354 DELETE
015 A000355 DELETE
015 A000356 DELETE
028 A010300 98
028 A020300 0
028 A030300 0
028 A040300 841
028 B010300 234
<PAGE> PAGE 21
028 B020300 0
028 B030300 0
028 B040300 438
028 C010300 203
028 C020300 0
028 C030300 0
028 C040300 698
028 D010300 200
028 D020300 0
028 D030300 0
028 D040300 804
028 E010300 117
028 E020300 0
028 E030300 0
028 E040300 294
028 F010300 256
028 F020300 0
028 F030300 0
028 F040300 318
028 G010300 1108
028 G020300 0
028 G030300 0
028 G040300 3393
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.750
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
062 A000300 N
<PAGE> PAGE 22
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 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 0.0
063 A000300 0
063 B000300 0.0
066 A000300 Y
066 B000300 N
066 C000300 N
066 D000300 Y
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 Y
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 Y
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 Y
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 Y
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
<PAGE> PAGE 23
070 K020300 N
070 L010300 Y
070 L020300 Y
070 M010300 Y
070 M020300 Y
070 N010300 Y
070 N020300 Y
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 Y
070 Q020300 N
070 R010300 Y
070 R020300 N
071 A000300 11307
071 B000300 16874
071 C000300 25894
071 D000300 44
072 A000300 12
072 B000300 22
072 C000300 390
072 D000300 0
072 E000300 0
072 F000300 198
072 G000300 0
072 H000300 0
072 I000300 1
072 J000300 31
072 K000300 0
072 L000300 24
072 M000300 9
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 12
072 S000300 12
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 3
072 X000300 290
072 Y000300 0
072 Z000300 122
072AA000300 1296
072BB000300 0
072CC010300 2290
072CC020300 0
072DD010300 142
072DD020300 0
<PAGE> PAGE 24
072EE000300 0
073 A010300 0.0760
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 470
074 C000300 741
074 D000300 0
074 E000300 628
074 F000300 24418
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 182
074 K000300 0
074 L000300 32
074 M000300 2
074 N000300 26473
074 O000300 122
074 P000300 16
074 Q000300 0
074 R010300 634
074 R020300 0
074 R030300 0
074 R040300 0
074 S000300 0
074 T000300 25701
074 U010300 1870
074 U020300 0
074 V010300 13.74
074 V020300 0.00
074 W000300 0.0000
074 X000300 0
074 Y000300 0
075 A000300 0
075 B000300 26417
076 000300 0.00
008 A000401 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000401 A
008 C000401 801-13219
008 D010401 NY
008 D020401 NY
008 D030401 10019
015 A000401 BROWN BROTHERS HARRIMAN & CO
015 B000401 C
015 C010401 BOSTON
015 C020401 MA
015 C030401 02109
015 E010401 X
015 A000402 CITIBANK, N.A.
<PAGE> PAGE 25
015 B000402 S
015 C010402 BUENOS AIRES
015 D010402 ARGENTINA
015 E040402 X
015 A000403 NATIONAL AUSTRALIA BANK
015 B000403 S
015 C010403 MELBOURNE
015 D010403 AUSTALIA
015 E040403 X
015 A000404 CREDITANSTALT BANKVEREIN
015 B000404 S
015 C010404 VIENNA
015 D010404 AUSTRIA
015 E040404 X
015 A000405 STANDARD CHARTERED BANK
015 B000405 S
015 C010405 DHAKA
015 D010405 BANGLADESH
015 E040405 X
015 A000406 BANQUE BRUXELLES LAMBERT
015 B000406 S
015 C010406 BRUSSESL
015 D010406 BELGIUM
015 E040406 X
015 A000407 BANK OF BOSTON
015 B000407 S
015 C010407 SAO PAULO
015 D010407 BRAZIL
015 E040407 X
015 A000408 CANADIAN IMPERIAL BANK OF COMMERCE
015 B000408 S
015 C010408 TORONTO
015 D010408 CANADA
015 E040408 X
015 A000409 DEN DANSKE BANK
015 B000409 S
015 C010409 COPENHAGEN
015 D010409 DENMARK
015 E040409 X
015 A000410 MERITA BANK LIMITED
015 B000410 S
015 C010410 HELSINKI
015 D010410 FINLAND
015 E040410 X
015 A000411 BANQUE PARIBAS
015 B000411 S
015 C010411 PARIS
015 D010411 FRANCE
015 E040411 X
015 A000412 MORGAN GUARANTY TRUST COMPANY OF NEW YORK
015 B000412 S
<PAGE> PAGE 26
015 C010412 FRANKFURT
015 D010412 GERMANY
015 E040412 X
015 A000413 CITIBANK, N.A.
015 B000413 S
015 C010413 ATHENS
015 D010413 GREECE
015 E040413 X
015 A000414 CHASE MANHATTAN BANK
015 B000414 S
015 C010414 HONG KONG
015 D010414 HONG KONG
015 E040414 X
015 A000415 CITIBANK, N.A.
015 B000415 S
015 C010415 JAKARTA
015 D010415 INDONESIA
015 E040415 X
015 A000416 ALLIED IRISH BANKS PLC
015 B000416 S
015 C010416 DUBLIN
015 D010416 IRELAND
015 E040416 X
015 A000417 BANCA COMMERCIALE ITALIANA
015 B000417 S
015 C010417 MILAN
015 D010417 ITALY
015 E040417 X
015 A000418 THE SUMITOMO TRUST & BANKING CO., LTD.
015 B000418 S
015 C010418 TOKYO
015 D010418 JAPAN
015 E040418 X
015 A000419 CITIBANK, N.A.
015 B000419 S
015 C010419 SEOUL
015 D010419 SOUTH KOREA
015 E040419 X
015 A000420 HONG KONG & SHANGHAI BANKING CORP
015 B000420 S
015 C010420 KUALA LAMPUR
015 D010420 MALAYSIA
015 E040420 X
015 A000421 CITIBANK, N.A.
015 B000421 S
015 C010421 MEXICO CITY
015 D010421 MEXICO
015 E040421 X
015 A000422 ABN AMRO BANK
015 B000422 S
015 C010422 BREDA
<PAGE> PAGE 27
015 D010422 NETHERLANDS
015 E040422 X
015 A000423 NATIONAL NOMINEES LIMITED
015 B000423 S
015 C010423 AUCKLAND
015 D010423 NEW ZEALAND
015 E040423 X
015 A000424 DEN NORSKE BANK
015 B000424 S
015 C010424 NORWAY
015 D010424 NORWAY
015 E040424 X
015 A000425 CITIBANK, N.A.
015 B000425 S
015 C010425 LIMA
015 D010425 PERU
015 E040425 X
015 A000426 CITIBANK, N.A.
015 B000426 S
015 C010426 MANILA
015 D010426 PHILIPPINES
015 E040426 X
015 A000427 CITIBANK
015 B000427 S
015 C010427 WARSAW
015 D010427 POLAND
015 E040427 X
015 A000428 BANCO ESPIRITO SANTO E COMERICAL DE LISBOA
015 B000428 S
015 C010428 LISBON
015 D010428 PORTUGAL
015 E040428 X
015 A000429 HONGKONG & SHANGHAI BANKING CORP.
015 B000429 S
015 C010429 SINGAPORE
015 D010429 SINGAPORE
015 E040429 X
015 A000430 FIRST NATIONAL BANK OF SOUTHERN AFRICA LTD
015 B000430 S
015 C010430 JOHANNESBURG
015 D010430 SOUTH AFRICA
015 E040430 X
015 A000431 BANCO SANTADER
015 B000431 S
015 C010431 MADRID
015 D010431 SPAIN
015 E040431 X
015 A000432 SKANKINAVISKA ENSKILDA BANKEN
015 B000432 S
015 C010432 STOCKHOLM
015 D010432 SWEDEN
<PAGE> PAGE 28
015 E040432 X
015 A000433 SWISS BANK CORPORATION
015 B000433 S
015 C010433 ZURICH
015 D010433 SWITZERLAND
015 E040433 X
015 A000434 HONGKONG & SHANGHAI BANKING CORP.
015 B000434 S
015 C010434 BANKOK
015 D010434 THAILAND
015 E040434 X
015 A000435 LLOYD'S BANK PLC
015 B000435 S
015 C010435 LONDON
015 D010435 UNITED KINGDOM
015 E040435 X
015 A000436 CITIBANK, N.A.
015 B000436 S
015 C010436 CARACAS
015 D010436 VENEZUELA
015 E040436 X
015 A000437 CESKOSLOVENSKA OBCHODNI BANKA (CESKO)
015 B000437 S
015 C010437 PRAGUE
015 D010437 CZECK REPUBLIC
015 E040437 X
015 A000438 CITIBANK NA
015 B000438 S
015 C010438 CAIRO
015 D010438 EGYPT
015 E040438 X
015 A000439 CITIBANK
015 B000439 S
015 C010439 BUDAPEST
015 D010439 HUNGARY
015 E040439 X
015 A000440 CSOB
015 B000440 S
015 C010440 SLOVAKIA
015 D010440 SLOVAKIA
015 E040440 X
015 A000441 CITIBAK
015 B000441 S
015 C010441 ISTANBUL
015 D010441 TURKEY
015 E040441 X
028 A010400 148
028 A020400 0
028 A030400 0
028 A040400 669
028 B010400 421
<PAGE> PAGE 29
028 B020400 85
028 B030400 0
028 B040400 621
028 C010400 147
028 C020400 0
028 C030400 0
028 C040400 1043
028 D010400 6
028 D020400 0
028 D030400 0
028 D040400 978
028 E010400 1
028 E020400 0
028 E030400 0
028 E040400 1271
028 F010400 37
028 F020400 0
028 F030400 0
028 F040400 731
028 G010400 760
028 G020400 85
028 G030400 0
028 G040400 5313
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.750
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
062 A000400 Y
<PAGE> PAGE 30
062 B000400 14.3
062 C000400 0.0
062 D000400 1.8
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 10.9
062 M000400 28.9
062 N000400 0.0
062 O000400 0.0
062 P000400 9.0
062 Q000400 35.2
062 R000400 0.0
063 A000400 0
063 B000400 5.0
064 A000400 N
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 Y
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 Y
070 L020400 Y
070 M010400 Y
<PAGE> PAGE 31
070 M020400 Y
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 Y
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 31406
071 B000400 43068
071 C000400 23389
071 D000400 134
072 A000400 12
072 B000400 2493
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 230
072 G000400 0
072 H000400 0
072 I000400 1
072 J000400 121
072 K000400 0
072 L000400 40
072 M000400 9
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 29
072 S000400 27
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 23
072 X000400 480
072 Y000400 0
072 Z000400 2013
072AA000400 399
072BB000400 0
072CC010400 0
072CC020400 580
072DD010400 1741
072DD020400 0
072EE000400 19
073 A010400 0.7900
073 A020400 0.0000
073 B000400 0.0100
<PAGE> PAGE 32
073 C000400 0.0000
074 A000400 4
074 B000400 440
074 C000400 6137
074 D000400 19190
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 536
074 L000400 0
074 M000400 121
074 N000400 26428
074 O000400 0
074 P000400 17
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 1975
074 S000400 0
074 T000400 24436
074 U010400 2194
074 U020400 0
074 V010400 11.14
074 V020400 0.00
074 W000400 0.0000
074 X000400 0
074 Y000400 0
075 A000400 0
075 B000400 30702
076 000400 0.00
008 A000501 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000501 A
008 C000501 801-13219
008 D010501 NY
008 D020501 NY
008 D030501 10019
008 A000502 PACIFIC INVESTMENT MANAGEMENT COMPANY
008 B000502 S
008 C000502 801-00000
008 D010502 NEWPORT BEACH
008 D020502 CA
008 D030502 92658
015 A000501 STATE STREET BANK & TRUST CO.
015 B000501 C
015 C010501 BOSTON
015 C020501 MA
015 C030501 02109
<PAGE> PAGE 33
015 E010501 X
028 A010500 463
028 A020500 0
028 A030500 0
028 A040500 553
028 B010500 5
028 B020500 0
028 B030500 0
028 B040500 372
028 C010500 332
028 C020500 100
028 C030500 0
028 C040500 568
028 D010500 70
028 D020500 0
028 D030500 0
028 D040500 469
028 E010500 74
028 E020500 0
028 E030500 0
028 E040500 228
028 F010500 7
028 F020500 0
028 F030500 0
028 F040500 124
028 G010500 951
028 G020500 100
028 G030500 0
028 G040500 2314
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.500
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
<PAGE> PAGE 34
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
062 A000500 Y
062 B000500 0.5
062 C000500 0.0
062 D000500 2.4
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 8.4
062 J000500 0.0
062 K000500 0.0
062 L000500 -6.8
062 M000500 0.0
062 N000500 44.5
062 O000500 0.0
062 P000500 51.0
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 17.4
064 A000500 N
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 Y
070 C020500 Y
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 Y
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 N
<PAGE> PAGE 35
070 J020500 N
070 K010500 N
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 Y
070 O020500 Y
070 P010500 N
070 P020500 N
070 Q010500 Y
070 Q020500 Y
070 R010500 Y
070 R020500 N
071 A000500 38122
071 B000500 43198
071 C000500 12019
071 D000500 317
072 A000500 12
072 B000500 929
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 63
072 G000500 0
072 H000500 0
072 I000500 1
072 J000500 39
072 K000500 10
072 L000500 17
072 M000500 9
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 30
072 S000500 20
072 T000500 0
072 U000500 0
072 V000500 0
072 W000500 2
072 X000500 191
072 Y000500 0
072 Z000500 738
072AA000500 0
072BB000500 174
072CC010500 0
072CC020500 208
<PAGE> PAGE 36
072DD010500 733
072DD020500 0
072EE000500 100
073 A010500 0.7000
073 A020500 0.0000
073 B000500 0.0900
073 C000500 0.0000
074 A000500 1
074 B000500 253
074 C000500 945
074 D000500 10218
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 93
074 M000500 0
074 N000500 11510
074 O000500 0
074 P000500 5
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 816
074 S000500 0
074 T000500 10689
074 U010500 1047
074 U020500 0
074 V010500 10.21
074 V020500 0.00
074 W000500 0.0000
074 X000500 0
074 Y000500 0
075 A000500 0
075 B000500 12557
076 000500 0.00
008 A000601 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000601 A
008 C000601 801-13219
008 D010601 NY
008 D020601 NY
008 D030601 10019
015 A000601 STATE STREET BANK & TRUST CO.
015 B000601 C
015 C010601 BOSTON
015 C020601 MA
015 C030601 02109
<PAGE> PAGE 37
015 E010601 X
028 A010600 1
028 A020600 0
028 A030600 0
028 A040600 857
028 B010600 9
028 B020600 0
028 B030600 0
028 B040600 592
028 C010600 36
028 C020600 0
028 C030600 0
028 C040600 537
028 D010600 60
028 D020600 0
028 D030600 0
028 D040600 883
028 E010600 11
028 E020600 0
028 E030600 0
028 E040600 453
028 F010600 129
028 F020600 0
028 F030600 0
028 F040600 539
028 G010600 246
028 G020600 0
028 G030600 0
028 G040600 3861
028 H000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.750
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
<PAGE> PAGE 38
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
062 A000600 N
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 0.0
066 A000600 Y
066 B000600 N
066 C000600 N
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 Y
067 000600 Y
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
<PAGE> PAGE 39
070 H020600 N
070 I010600 Y
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 Y
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600 79514
071 B000600 75121
071 C000600 32029
071 D000600 235
072 A000600 12
072 B000600 805
072 C000600 371
072 D000600 0
072 E000600 0
072 F000600 250
072 G000600 0
072 H000600 0
072 I000600 1
072 J000600 59
072 K000600 16
072 L000600 20
072 M000600 9
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 28
072 S000600 23
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 7
072 X000600 413
072 Y000600 0
072 Z000600 763
<PAGE> PAGE 40
072AA000600 3319
072BB000600 0
072CC010600 970
072CC020600 0
072DD010600 763
072DD020600 0
072EE000600 3328
073 A010600 0.2857
073 A020600 0.0000
073 B000600 1.2469
073 C000600 0.0000
074 A000600 0
074 B000600 330
074 C000600 498
074 D000600 11290
074 E000600 1410
074 F000600 20138
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 84
074 K000600 0
074 L000600 196
074 M000600 1
074 N000600 33947
074 O000600 573
074 P000600 21
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 4129
074 S000600 0
074 T000600 29224
074 U010600 2669
074 U020600 0
074 V010600 10.95
074 V020600 0.00
074 W000600 0.0000
074 X000600 0
074 Y000600 0
075 A000600 0
075 B000600 33333
076 000600 0.00
008 A000701 MITHCELL HUTCHINS ASSET MANAGEMENT INC.
008 B000701 A
008 C000701 801-13219
008 D010701 NY
008 D020701 NY
008 D030701 10019
015 A000701 STATE STREET BANK & TRUST CO.
<PAGE> PAGE 41
015 B000701 C
015 C010701 BOSTON
015 C020701 MA
015 C030701 02109
015 E010701 X
028 A010700 87
028 A020700 0
028 A030700 0
028 A040700 551
028 B010700 50
028 B020700 0
028 B030700 0
028 B040700 279
028 C010700 292
028 C020700 0
028 C030700 0
028 C040700 450
028 D010700 547
028 D020700 0
028 D030700 0
028 D040700 645
028 E010700 230
028 E020700 0
028 E030700 0
028 E040700 128
028 F010700 300
028 F020700 0
028 F030700 0
028 F040700 254
028 G010700 1506
028 G020700 0
028 G030700 0
028 G040700 2307
028 H000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.700
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
<PAGE> PAGE 42
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 0
063 B000700 0.0
066 A000700 Y
066 B000700 N
066 C000700 N
066 D000700 N
066 E000700 Y
066 F000700 N
066 G000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 Y
070 E020700 N
070 F010700 Y
<PAGE> PAGE 43
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 Y
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 Y
070 L020700 Y
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 N
070 P020700 N
070 Q010700 Y
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 14481
071 B000700 17000
071 C000700 14601
071 D000700 99
072 A000700 12
072 B000700 82
072 C000700 247
072 D000700 0
072 E000700 0
072 F000700 112
072 G000700 0
072 H000700 0
072 I000700 1
072 J000700 38
072 K000700 14
072 L000700 20
072 M000700 9
072 N000700 0
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 22
072 S000700 20
072 T000700 0
072 U000700 11
072 V000700 0
<PAGE> PAGE 44
072 W000700 4
072 X000700 251
072 Y000700 0
072 Z000700 78
072AA000700 2474
072BB000700 0
072CC010700 573
072CC020700 0
072DD010700 72
072DD020700 0
072EE000700 2474
073 A010700 0.0600
073 A020700 0.0000
073 B000700 2.0900
073 C000700 0.0000
074 A000700 4
074 B000700 325
074 C000700 1493
074 D000700 115
074 E000700 993
074 F000700 14144
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 46
074 M000700 0
074 N000700 17120
074 O000700 0
074 P000700 10
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 2590
074 S000700 0
074 T000700 14520
074 U010700 0
074 U020700 0
074 V010700 12.27
074 V020700 0.00
074 W000700 0.0000
074 X000700 0
074 Y000700 0
075 A000700 0
075 B000700 15943
076 000700 0.00
008 A000801 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B000801 A
008 C000801 801-13219
<PAGE> PAGE 45
008 D010801 NY
008 D020801 NY
008 D030801 10019
008 A000802 NICHOLAS-APPLEGATE CAPITAL
008 B000802 S
008 C000802 801-21442
008 D010802 SAN DIEGO
008 D020802 CA
008 D030802 92101
015 A000801 STATE STREET BANK AND TRUST CO.
015 B000801 C
015 C010801 BOSTON
015 C020801 MA
015 C030801 02171
015 E010801 X
028 A010800 157
028 A020800 0
028 A030800 0
028 A040800 268
028 B010800 174
028 B020800 0
028 B030800 0
028 B040800 373
028 C010800 193
028 C020800 0
028 C030800 0
028 C040800 464
028 D010800 5
028 D020800 0
028 D030800 0
028 D040800 643
028 E010800 292
028 E020800 0
028 E030800 0
028 E040800 240
028 F010800 197
028 F020800 0
028 F030800 0
028 F040800 225
028 G010800 1018
028 G020800 0
028 G030800 0
028 G040800 2213
028 H000800 0
045 000800 Y
046 000800 N
047 000800 Y
048 000800 0.800
048 A010800 0
048 A020800 0.000
048 B010800 0
<PAGE> PAGE 46
048 B020800 0.000
048 C010800 0
048 C020800 0.000
048 D010800 0
048 D020800 0.000
048 E010800 0
048 E020800 0.000
048 F010800 0
048 F020800 0.000
048 G010800 0
048 G020800 0.000
048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 0
048 K020800 0.000
062 A000800 N
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 0.0
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
063 A000800 0
063 B000800 0.0
066 A000800 Y
066 B000800 Y
066 C000800 N
066 D000800 N
066 E000800 N
066 F000800 N
066 G000800 N
067 000800 N
068 A000800 N
068 B000800 N
069 000800 N
070 A010800 Y
<PAGE> PAGE 47
070 A020800 N
070 B010800 Y
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 Y
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 Y
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 N
070 L010800 Y
070 L020800 N
070 M010800 Y
070 M020800 N
070 N010800 Y
070 N020800 Y
070 O010800 Y
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 Y
070 Q020800 N
070 R010800 Y
070 R020800 N
071 A000800 22018
071 B000800 23650
071 C000800 19222
071 D000800 115
072 A000800 12
072 B000800 18
072 C000800 133
072 D000800 0
072 E000800 0
072 F000800 156
072 G000800 0
072 H000800 0
072 I000800 1
072 J000800 43
072 K000800 0
072 L000800 20
<PAGE> PAGE 48
072 M000800 9
072 N000800 0
072 O000800 0
072 P000800 0
072 Q000800 0
072 R000800 32
072 S000800 24
072 T000800 0
072 U000800 0
072 V000800 0
072 W000800 11
072 X000800 296
072 Y000800 0
072 Z000800 -145
072AA000800 1630
072BB000800 0
072CC010800 2835
072CC020800 0
072DD010800 0
072DD020800 0
072EE000800 1588
073 A010800 0.0000
073 A020800 0.0000
073 B000800 1.0800
073 C000800 0.0000
074 A000800 9
074 B000800 0
074 C000800 199
074 D000800 0
074 E000800 0
074 F000800 20594
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 0
074 K000800 0
074 L000800 15
074 M000800 312
074 N000800 21129
074 O000800 0
074 P000800 0
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 1962
074 S000800 0
074 T000800 19167
074 U010800 2669
074 U020800 0
074 V010800 13.09
<PAGE> PAGE 49
074 V020800 0.00
074 W000800 0.0000
074 X000800 0
074 Y000800 0
075 A000800 0
075 B000800 19487
076 000800 0.00
025 D000901 0
025 D000902 0
025 D000903 0
025 D000904 0
025 D000905 0
025 D000906 0
025 D000907 0
025 D000908 0
028 A010900 0
028 A020900 0
028 A030900 0
028 A040900 0
028 B010900 0
028 B020900 0
028 B030900 0
028 B040900 0
028 C010900 0
028 C020900 0
028 C030900 0
028 C040900 0
028 D010900 0
028 D020900 0
028 D030900 0
028 D040900 0
028 E010900 0
028 E020900 0
028 E030900 0
028 E040900 0
028 F010900 0
028 F020900 0
028 F030900 0
028 F040900 0
028 G010900 0
028 G020900 0
028 G030900 0
028 G040900 0
028 H000900 0
008 A001001 MITCHELL HUTCHINS ASSET MANAGEMENT INC.
008 B001001 A
008 C001001 801-13219
008 D011001 NEW YORK
008 D021001 NY
008 D031001 10019
008 A001002 DELETE
<PAGE> PAGE 50
015 A001001 STATE STREET BANK AND TRUST CO.
015 B001001 C
015 C011001 BOSTON
015 C021001 MA
015 C031001 02171
015 E011001 X
028 A011000 62
028 A021000 0
028 A031000 0
028 A041000 371
028 B011000 9
028 B021000 0
028 B031000 0
028 B041000 166
028 C011000 282
028 C021000 0
028 C031000 0
028 C041000 501
028 D011000 224
028 D021000 0
028 D031000 0
028 D041000 258
028 E011000 111
028 E021000 0
028 E031000 0
028 E041000 375
028 F011000 82
028 F021000 0
028 F031000 0
028 F041000 154
028 G011000 770
028 G021000 0
028 G031000 0
028 G041000 1825
028 H001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 0.500
048 A011000 0
048 A021000 0.000
048 B011000 0
048 B021000 0.000
048 C011000 0
048 C021000 0.000
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
048 F011000 0
048 F021000 0.000
<PAGE> PAGE 51
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 0
048 K021000 0.000
062 A001000 Y
062 B001000 0.0
062 C001000 0.0
062 D001000 3.4
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 19.6
062 N001000 31.3
062 O001000 0.0
062 P001000 36.2
062 Q001000 20.0
062 R001000 -10.4
063 A001000 0
063 B001000 14.9
064 A001000 N
064 B001000 N
066 A001000 N
067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 Y
070 A021000 Y
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
070 E011000 Y
070 E021000 N
070 F011000 Y
070 F021000 N
070 G011000 Y
070 G021000 N
<PAGE> PAGE 52
070 H011000 Y
070 H021000 N
070 I011000 Y
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 N
070 L011000 N
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 N
070 P021000 N
070 Q011000 Y
070 Q021000 N
070 R011000 Y
070 R021000 N
071 A001000 23879
071 B001000 24194
071 C001000 8482
071 D001000 282
072 A001000 12
072 B001000 593
072 C001000 0
072 D001000 0
072 E001000 0
072 F001000 44
072 G001000 0
072 H001000 0
072 I001000 2
072 J001000 27
072 K001000 5
072 L001000 6
072 M001000 9
072 N001000 0
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 30
072 S001000 15
072 T001000 0
072 U001000 0
072 V001000 0
072 W001000 6
072 X001000 144
072 Y001000 0
<PAGE> PAGE 53
072 Z001000 449
072AA001000 14
072BB001000 0
072CC011000 0
072CC021000 369
072DD011000 452
072DD021000 0
072EE001000 0
073 A011000 0.5200
073 A021000 0.0000
073 B001000 0.0000
073 C001000 0.0000
074 A001000 2
074 B001000 270
074 C001000 0
074 D001000 8458
074 E001000 0
074 F001000 0
074 G001000 0
074 H001000 0
074 I001000 0
074 J001000 96
074 K001000 0
074 L001000 0
074 M001000 0
074 N001000 8826
074 O001000 457
074 P001000 3
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 464
074 S001000 0
074 T001000 7902
074 U011000 868
074 U021000 0
074 V011000 9.10
074 V021000 0.00
074 W001000 0.0000
074 X001000 0
074 Y001000 0
075 A001000 0
075 B001000 8892
076 001000 0.00
SIGNATURE JULIAN SLUYTERS
TITLE SENIOR VP\TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 1
<NAME> SERIES TRUST MONEY MARKET
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 12240
<INVESTMENTS-AT-VALUE> 12240
<RECEIVABLES> 108
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 699
<TOTAL-ASSETS> 13047
<PAYABLE-FOR-SECURITIES> 695
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 65
<TOTAL-LIABILITIES> 760
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12298
<SHARES-COMMON-STOCK> 12296
<SHARES-COMMON-PRIOR> 21988
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (10)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 12287
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 862
<OTHER-INCOME> 0
<EXPENSES-NET> 185
<NET-INVESTMENT-INCOME> 677
<REALIZED-GAINS-CURRENT> 5
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 682
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 677
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10397
<NUMBER-OF-SHARES-REDEEMED> 20822
<SHARES-REINVESTED> 733
<NET-CHANGE-IN-ASSETS> (9687)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (16)
<GROSS-ADVISORY-FEES> 79
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 185
<AVERAGE-NET-ASSETS> 15857
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.04
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 1.17
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 10
<NAME> SERIES TRUST HIGH GRADE INCOME
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 8645
<INVESTMENTS-AT-VALUE> 8728
<RECEIVABLES> 96
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8826
<PAYABLE-FOR-SECURITIES> 457
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 467
<TOTAL-LIABILITIES> 924
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7873
<SHARES-COMMON-STOCK> 868
<SHARES-COMMON-PRIOR> 963
<ACCUMULATED-NII-CURRENT> (5)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (48)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 83
<NET-ASSETS> 7902
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 593
<OTHER-INCOME> 0
<EXPENSES-NET> 144
<NET-INVESTMENT-INCOME> 449
<REALIZED-GAINS-CURRENT> 14
<APPREC-INCREASE-CURRENT> (369)
<NET-CHANGE-FROM-OPS> 94
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 452
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 170
<NUMBER-OF-SHARES-REDEEMED> (322)
<SHARES-REINVESTED> 57
<NET-CHANGE-IN-ASSETS> (1245)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (59)
<OVERDISTRIB-NII-PRIOR> (5)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 144
<AVERAGE-NET-ASSETS> 8892
<PER-SHARE-NAV-BEGIN> 9.49
<PER-SHARE-NII> 1.04
<PER-SHARE-GAIN-APPREC> (0.91)
<PER-SHARE-DIVIDEND> (0.52)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.10
<EXPENSE-RATIO> 1.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 2
<NAME> SERIES TRUST GROWTH PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 30359
<INVESTMENTS-AT-VALUE> 45218
<RECEIVABLES> 63
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 45283
<PAYABLE-FOR-SECURITIES> 121
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 8805
<TOTAL-LIABILITIES> 8926
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21648
<SHARES-COMMON-STOCK> 2080
<SHARES-COMMON-PRIOR> 2435
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (150)
<ACCUM-APPREC-OR-DEPREC> 14859
<NET-ASSETS> 36357
<DIVIDEND-INCOME> 162
<INTEREST-INCOME> 205
<OTHER-INCOME> 0
<EXPENSES-NET> 493
<NET-INVESTMENT-INCOME> (126)
<REALIZED-GAINS-CURRENT> 6920
<APPREC-INCREASE-CURRENT> 493
<NET-CHANGE-FROM-OPS> 7287
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (6899)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 297
<NUMBER-OF-SHARES-REDEEMED> (883)
<SHARES-REINVESTED> 231
<NET-CHANGE-IN-ASSETS> 6427
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (1)
<OVERDIST-NET-GAINS-PRIOR> (44)
<GROSS-ADVISORY-FEES> 325
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 493
<AVERAGE-NET-ASSETS> 43342
<PER-SHARE-NAV-BEGIN> 17.57
<PER-SHARE-NII> 0.06
<PER-SHARE-GAIN-APPREC> 3.29
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 3.32
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.48
<EXPENSE-RATIO> 1.14
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 3
<NAME> SERIES TRUST GLOBAL GROWTH
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 22851
<INVESTMENTS-AT-VALUE> 26257
<RECEIVABLES> 214
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26473
<PAYABLE-FOR-SECURITIES> 122
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 650
<TOTAL-LIABILITIES> 772
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25210
<SHARES-COMMON-STOCK> 1870
<SHARES-COMMON-PRIOR> 2047
<ACCUMULATED-NII-CURRENT> (48)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2867)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3406
<NET-ASSETS> 25701
<DIVIDEND-INCOME> 390
<INTEREST-INCOME> 22
<OTHER-INCOME> 0
<EXPENSES-NET> (290)
<NET-INVESTMENT-INCOME> 122
<REALIZED-GAINS-CURRENT> 1296
<APPREC-INCREASE-CURRENT> 2290
<NET-CHANGE-FROM-OPS> 3708
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (142)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2415
<NUMBER-OF-SHARES-REDEEMED> (8787)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (6372)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 198
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 290
<AVERAGE-NET-ASSETS> 25864
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.14
<PER-SHARE-GAIN-APPREC> 1.68
<PER-SHARE-DIVIDEND> (0.08)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.74
<EXPENSE-RATIO> 1.10
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 4
<NAME> SERIES TRUST GLOBAL INCOME
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 25439
<INVESTMENTS-AT-VALUE> 25767
<RECEIVABLES> 536
<ASSETS-OTHER> 121
<OTHER-ITEMS-ASSETS> 4
<TOTAL-ASSETS> 26428
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1992
<TOTAL-LIABILITIES> 1992
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24321
<SHARES-COMMON-STOCK> 2194
<SHARES-COMMON-PRIOR> 3188
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (163)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 278
<NET-ASSETS> 24436
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2493
<OTHER-INCOME> 0
<EXPENSES-NET> 480
<NET-INVESTMENT-INCOME> 2013
<REALIZED-GAINS-CURRENT> 399
<APPREC-INCREASE-CURRENT> (580)
<NET-CHANGE-FROM-OPS> 1832
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1741
<DISTRIBUTIONS-OF-GAINS> 19
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 97
<NUMBER-OF-SHARES-REDEEMED> 1398
<SHARES-REINVESTED> 306
<NET-CHANGE-IN-ASSETS> (11263)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (282)
<OVERDIST-NET-GAINS-PRIOR> (534)
<GROSS-ADVISORY-FEES> 230
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 480
<AVERAGE-NET-ASSETS> 30702
<PER-SHARE-NAV-BEGIN> 11.20
<PER-SHARE-NII> 0.87
<PER-SHARE-GAIN-APPREC> (0.13)
<PER-SHARE-DIVIDEND> (0.79)
<PER-SHARE-DISTRIBUTIONS> (0.01)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.14
<EXPENSE-RATIO> 1.56
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 5
<NAME> SERIES TRUST STRATEGIC FIXED INCOME
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-31-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 11367
<INVESTMENTS-AT-VALUE> 11417
<RECEIVABLES> 93
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 11510
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 821
<TOTAL-LIABILITIES> 821
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10934
<SHARES-COMMON-STOCK> 1047
<SHARES-COMMON-PRIOR> 1295
<ACCUMULATED-NII-CURRENT> (3)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (272)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 30
<NET-ASSETS> 10689
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 929
<OTHER-INCOME> 0
<EXPENSES-NET> 191
<NET-INVESTMENT-INCOME> 738
<REALIZED-GAINS-CURRENT> (174)
<APPREC-INCREASE-CURRENT> (208)
<NET-CHANGE-FROM-OPS> (382)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (733)
<DISTRIBUTIONS-OF-GAINS> (100)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 175
<NUMBER-OF-SHARES-REDEEMED> 633
<SHARES-REINVESTED> 210
<NET-CHANGE-IN-ASSETS> (3052)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (5)
<OVERDIST-NET-GAINS-PRIOR> (2)
<GROSS-ADVISORY-FEES> 63
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 191
<AVERAGE-NET-ASSETS> 12557
<PER-SHARE-NAV-BEGIN> 10.61
<PER-SHARE-NII> 1.40
<PER-SHARE-GAIN-APPREC> (1.01)
<PER-SHARE-DIVIDEND> (0.70)
<PER-SHARE-DISTRIBUTIONS> (0.09)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.21
<EXPENSE-RATIO> 1.52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 6
<NAME> SERIES TRUST BALANCED
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 30326
<INVESTMENTS-AT-VALUE> 33666
<RECEIVABLES> 280
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33947
<PAYABLE-FOR-SECURITIES> 573
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4151
<TOTAL-LIABILITIES> 4724
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25893
<SHARES-COMMON-STOCK> 2669
<SHARES-COMMON-PRIOR> 2187
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (8)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3339
<NET-ASSETS> 29224
<DIVIDEND-INCOME> 371
<INTEREST-INCOME> 805
<OTHER-INCOME> 0
<EXPENSES-NET> 413
<NET-INVESTMENT-INCOME> 763
<REALIZED-GAINS-CURRENT> 3319
<APPREC-INCREASE-CURRENT> 971
<NET-CHANGE-FROM-OPS> 5053
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (763)
<DISTRIBUTIONS-OF-GAINS> (3328)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1266
<NUMBER-OF-SHARES-REDEEMED> (1001)
<SHARES-REINVESTED> 217
<NET-CHANGE-IN-ASSETS> 5810
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (2)
<OVERDIST-NET-GAINS-PRIOR> (1)
<GROSS-ADVISORY-FEES> 250
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 413
<AVERAGE-NET-ASSETS> 33333
<PER-SHARE-NAV-BEGIN> 10.70
<PER-SHARE-NII> 0.57
<PER-SHARE-GAIN-APPREC> 1.22
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (1.25)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.95
<EXPENSE-RATIO> 1.24
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 7
<NAME> SERIES TRUST GROWTH & INCOME
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 13883
<INVESTMENTS-AT-VALUE> 17070
<RECEIVABLES> 46
<ASSETS-OTHER> 4
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17120
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2600
<TOTAL-LIABILITIES> 2600
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11339
<SHARES-COMMON-STOCK> 1184
<SHARES-COMMON-PRIOR> 1251
<ACCUMULATED-NII-CURRENT> 3
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (9)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3187
<NET-ASSETS> 14520
<DIVIDEND-INCOME> 247
<INTEREST-INCOME> 82
<OTHER-INCOME> 0
<EXPENSES-NET> 251
<NET-INVESTMENT-INCOME> 78
<REALIZED-GAINS-CURRENT> 2474
<APPREC-INCREASE-CURRENT> 573
<NET-CHANGE-FROM-OPS> 3125
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (72)
<DISTRIBUTIONS-OF-GAINS> (2474)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 273
<NUMBER-OF-SHARES-REDEEMED> 354
<SHARES-REINVESTED> 13
<NET-CHANGE-IN-ASSETS> (276)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (8)
<OVERDISTRIB-NII-PRIOR> (3)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 112
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 251
<AVERAGE-NET-ASSETS> 15943
<PER-SHARE-NAV-BEGIN> 11.83
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> 2.46
<PER-SHARE-DIVIDEND> (0.06)
<PER-SHARE-DISTRIBUTIONS> (2.09)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.27
<EXPENSE-RATIO> 1.58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000806591
<NAME> PW SERIES TRUST
<SERIES>
<NUMBER> 8
<NAME> SERIES TRUST AGGRESSIVE GROWTH
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> DEC-31-1996
<INVESTMENTS-AT-COST> 16156
<INVESTMENTS-AT-VALUE> 21105
<RECEIVABLES> 24
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 21129
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1962
<TOTAL-LIABILITIES> 1962
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 14216
<SHARES-COMMON-STOCK> 1464
<SHARES-COMMON-PRIOR> 1557
<ACCUMULATED-NII-CURRENT> (3)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4949
<NET-ASSETS> 19167
<DIVIDEND-INCOME> 133
<INTEREST-INCOME> 18
<OTHER-INCOME> 0
<EXPENSES-NET> 296
<NET-INVESTMENT-INCOME> (145)
<REALIZED-GAINS-CURRENT> 1630
<APPREC-INCREASE-CURRENT> 2835
<NET-CHANGE-FROM-OPS> 4320
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 1588
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 171
<NUMBER-OF-SHARES-REDEEMED> 311
<SHARES-REINVESTED> 47
<NET-CHANGE-IN-ASSETS> (93)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (4)
<OVERDIST-NET-GAINS-PRIOR> (37)
<GROSS-ADVISORY-FEES> 156
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 296
<AVERAGE-NET-ASSETS> 19487
<PER-SHARE-NAV-BEGIN> 11.34
<PER-SHARE-NII> (0.10)
<PER-SHARE-GAIN-APPREC> 2.93
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.08)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 13.09
<EXPENSE-RATIO> 1.52
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
Board of Trustees
PaineWebber Series Trust
In planning and performing our audit of the financial statements of
PaineWebber Series Trust (comprising, respectively, the Money Market, Growth,
Global Growth, Global Income, Strategic Fixed Income, Growth and Income,
Aggressive Growth, Balanced and High Grade Fixed Income Portfolios)
(the "Fund") for the year ended December 31, 1996, we considered
its internal control structure, including procedures for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal control
structure.
The management of the Fund is responsible for establishing and maintaining an
internal control structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and
related costs of internal control structure policies and procedures. Two of
the objectives of an internal control structure are to provide management with
reasonable, but not absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and that transactions are executed in
accordance with management's authorization and recorded properly to permit
preparation of financial statements in conformity with generally accepted
accounting principles.
Because of inherent limitations in any internal control structure, errors or
irregularities may occur and not be detected. Also, projection of any
evaluation of the structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of the internal control structure would not necessarily
disclose all matters in the internal control structure that might be material
weaknesses under standards established by the American Institute of Certified
Public Accountants. A material weakness is a condition in which the design or
operation of the specific internal control structure elements does not reduce
to a relatively low level the risk that errors or irregularities in amounts
that would be material in relation to the financial statements being audited
may occur and not be detected within a timely period by employees in the
normal course of performing their assigned functions. However, we noted no
matters involving the internal control structure, including procedures for
safeguarding securities, that we consider to be material weaknesses as defined
above as of December 31, 1996.
This report is intended solely for the information and use of management and
the Securities and Exchange Commission.
ERNST & YOUNG LLP
February 6, 1997
FORM 10f-3 FUND: Series Trust Growth & Income
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Travelers/Aetna
2. Date of Purchase: 4/22/96
3. Date offering commenced: 4/22/96
4. Underwriters from whom purchased: Smith Barney
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 25,000
7. Aggregate principal amount of offering: 875,000,000
8. Purchase price (net of fees and expenses): 25
9. Initial public offering price: 25
10. Commission, spread or profit: % $ .71
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934
.____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased on
or before the fourth day preceding the day on which the offering
terminated.
____x_________
c. The underwriting was a firm commitment underwriting.
____x__________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
____x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
____x__________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally
recognized statistical rating organization or, if the issuer or
entity supplying the revenues from which the issue is to be paid
shall have been in continuous operation for less than three years
(including any predecessor), the issue has received one of the
three highest ratings from at least one such rating
organization.
___n/a_________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 4/29/96
FORM 10f-3 FUND: Series Trust - Balanced
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Travelers/Aetna
2. Date of Purchase: 4/22/96
3. Date offering commenced: 4/22/96
4. Underwriters from whom purchased: Smith Barney
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 50,000
7. Aggregate principal amount of offering: 875,000,000
8. Purchase price (net of fees and expenses): 25
9. Initial public offering price: 25
10. Commission, spread or profit: % $ .71
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased on
or before the fourth day preceding the day on which the offering
terminated.
____x_________
c. The underwriting was a firm commitment underwriting.
____x__________
d. The commission, spread or profit was reasonable and fair in relation to
that being received by others for underwriting similar securities
during the same period.
____x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
____x__________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
___n/a_________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 4/29/96
FORM 10f-3 FUND: Series Trust - Balanced
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Heartport
2. Date of Purchase: 4/25/96
3. Date offering commenced: 4/25/96
4. Underwriters from whom purchased: Morgan Stanley
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 21,000
7. Aggregate principal amount of offering: 105,000,000
8. Purchase price (net of fees and expenses): 21
9. Initial public offering price: 21
10. Commission, spread or profit: % $ .90
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased on
or before the fourth day preceding the day on which the offering
terminated.
____x_________
c. The underwriting was a firm commitment underwriting.
____x__________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
____x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
____x__________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
___n/a_________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 4/29/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Heartport, Inc.
2. Date of Purchase: 4/25/96
3. Date offering commenced: 4/25/96
4. Underwriters from whom purchased: Morgan Stanley
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 21,000
7. Aggregate principal amount of offering: 105,000,000
8. Purchase price (net of fees and expenses): 21
9. Initial public offering price: 21
10. Commission, spread or profit: % $ .90
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased on
or before the fourth day preceding the day on which the offering
terminated.
____x_________
c. The underwriting was a firm commitment underwriting.
____x__________
d. The commission, spread or profit was reasonable and fair in relation to
that being received by others for underwriting similar securities during
the same period.
____x__________
e. (1) If securities are registered under the Securities Act of 1933, the
issuer of the securities and its predecessor have been in continuous
operation for not less than three years.
____x__________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
___n/a_________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 4/29/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Waters
2. Date of Purchase: 6/5/96
3. Date offering commenced: 6/5/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 397,500
7. Aggregate principal amount of offering: 265,000,000
8. Purchase price (net of fees and expenses): 26.5
9. Initial public offering price: 26.5
10. Commission, spread or profit: % $ .65
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial
offering price (or, if a rights offering, , the securities were
purchased on or before the fourth day preceding the day on which
the offering terminated.
____x_________
c. The underwriting was a firm commitment underwriting.
____x__________
d. The commission, spread or profit was reasonable and fair in relation to
that being received by others for underwriting similar securities
during the same period.
____x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
____x__________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
___n/a_________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities,
no purchases were designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 4/29/96
FORM 10f-3 FUND: Series Trust - Growth & Income
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Kmart Convertable ltd.
2. Date of Purchase: 6/6/96
3. Date offering commenced: 6/6/96
4. Underwriters from whom purchased: Morgan Stanley
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 250,000
7. Aggregate principal amount of offering: 875,000,000
8. Purchase price (net of fees and expenses): 52
9. Initial public offering price: 50
10. Commission, spread or profit: % $ .84
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934
.____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
____x_________
c. The underwriting was a firm commitment underwriting.
____x__________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
____x__________
e. (1) If securities are registered under the Securities Act of 1933, the
issuer of the securities and its predecessor have been in continuous
operation for not less than three years.
____x__________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
___n/a_________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 8/27/96
FORM 10f-3 FUND: Series Trust - Balanced
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Info Seek (SEEK)
2. Date of Purchase: 6/11/96
3. Date offering commenced: 6/11/96
4. Underwriters from whom purchased: Alex Brown
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 30,000
7. Aggregate principal amount of offering: 36,000,000
8. Purchase price (net of fees and expenses): 12
9. Initial public offering price: 12
10. Commission, spread or profit: % $ .47
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
___________x___
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
__________x__
c. The underwriting was a firm commitment underwriting.
___________x___
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___________x___
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___________x___
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
________n/a__
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount
exceed 10% of the principal amount of the offering.
___________x___
g. The purchase price was less than 3% of the Fund's total assets.
___________x___
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
___________x___
Approved: /s/ Mark Tincher Date: 7/12/96
FORM 10f-3 FUND: Series Trust - Growth Fund
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Info Seek (SEEK)
2. Date of Purchase: 6/11/96
3. Date offering commenced: 6/11/96
4. Underwriters from whom purchased: Alex Brown
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 18,000
7. Aggregate principal amount of offering: 36,000,000
8. Purchase price (net of fees and expenses): 12
9. Initial public offering price: 12
10. Commission, spread or profit: % $ .47
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
___________x___
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
__________x__
c. The underwriting was a firm commitment underwriting.
___________x___
d. The commission, spread or profit was reasonable and fair in relation to
that being received by others for underwriting similar securities during
the same period.
___________x___
e. (1) If securities are registered under the Securities Act of 1933, the
issuer of the securities and its predecessor have been in continuous
operation for not less than three years.
___________x___
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
________n/a__
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
___________x___
g. The purchase price was less than 3% of the Fund's total assets.
___________x___
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
___________x___
Approved: /s/ Ellen R. Harris Date: 7/12/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Teleport Communications (TCGI)
2. Date of Purchase: 6/27/96
3. Date offering commenced: 6/27/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 160,000
7. Aggregate principal amount of offering: 376,000,000
8. Purchase price (net of fees and expenses): 16
9. Initial public offering price: 16
10. Commission, spread or profit: % $ .50
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
___________x___
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
__________x__
c. The underwriting was a firm commitment underwriting.
___________x___
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___________x___
e. (1) If securities are registered under the Securities Act of 1933, the
issuer of the securities and its predecessor have been in continuous
operation for not less than three years
.___________x___
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
________n/a__
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
___________x___
g. The purchase price was less than 3% of the Fund's total assets.
___________x___
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
___________x___
Approved: /s/ Ellen R. Harris Date: 7/12/96
FORM 10f-3 FUND: Series Trust - Growth & Income
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Texas Gas
2. Date of Purchase: 7/22/96
3. Date offering commenced: 7/22/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 87,500
7. Aggregate principal amount of offering: 108,500,000
8. Purchase price (net of fees and expenses): 35
9. Initial public offering price: 35
10. Commission, spread or profit: % $ .83
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount
exceed 10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 8/27/96
FORM 10f-3 FUND: Series Trust - Balanced
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Texas Gas
2. Date of Purchase: 7/22/96
3. Date offering commenced: 7/22/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 175,000
7. Aggregate principal amount of offering: 108,500,000
8. Purchase price (net of fees and expenses): 35
9. Initial public offering price: 35
10. Commission, spread or profit: % $ .83
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial
offering price (or, if a rights offering, , the securities were
purchased on or before the fourth day preceding the day on which
the offering terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally
recognized statistical rating organization or, if the issuer or
entity supplying the revenues from which the issue is to be paid
shall have been in continuous operation for less than three years
(including any predecessor), the issue has received one of the three
highest ratings from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 8/27/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Golden Bear Golf
2. Date of Purchase: 7/31/96
3. Date offering commenced: 7/31/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 32,000
7. Aggregate principal amount of offering: 82,500,000
8. Purchase price (net of fees and expenses): 16
9. Initial public offering price: 16
10. Commission, spread or profit: % $ .64
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial
offering price (or, if a rights offering, , the securities were
purchased on or before the fourth day preceding the day on which
the offering terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of
securities has received an investment grade rating from
a nationally recognized statistical rating organization or, if
the issuer or entity supplying the revenues from which the issue
is to be paid shall have been in continuous operation for less than
three years (including any predecessor), the issue has received one
of the three highest ratings from at least one such rating
organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount
exceed 10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities,
no purchases were designated as group sales or otherwise allocated to
the account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 8/27/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Starwood Lodging
2. Date of Purchase: 8/6/96
3. Date offering commenced: 8/6/96
4. Underwriters from whom purchased: Furman Selz
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 179,375
7. Aggregate principal amount of offering: 358,750,000
8. Purchase price (net of fees and expenses): 35 7/8
9. Initial public offering price: 35 7/8
10. Commission, spread or profit: % $ 1.15
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been
in continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount
exceed 10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to
the account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 8/27/96
FORM 10f-3 FUND: Series Trust - Balanced
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Bank United
2. Date of Purchase: 8/8/96
3. Date offering commenced: 8/8/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 140,000
7. Aggregate principal amount of offering: 210,000,000
8. Purchase price (net of fees and expenses): 20
9. Initial public offering price: 20
10. Commission, spread or profit: % $ .69
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased on
or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 8/27/96
FORM 10f-3 FUND: Series Trust - Growth & Income
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Bank United
2. Date of Purchase: 8/8/96
3. Date offering commenced: 8/8/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 100,000
7. Aggregate principal amount of offering: 210,000,000
8. Purchase price (net of fees and expenses): 20
9. Initial public offering price: 20
10. Commission, spread or profit: % $ .69
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased on
or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest
ratings from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 8/27/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Humascan
2. Date of Purchase: 8/14/96
3. Date offering commenced: 8/14/96
4. Underwriters from whom purchased: Keane Sec
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 450,000
7. Aggregate principal amount of offering: 16,200,000
8. Purchase price (net of fees and expenses): 6
9. Initial public offering price: 6
10. Commission, spread or profit: % $ .26
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount
exceed 10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 8/27/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Tag Heuer
2. Date of Purchase: 9/26/96
3. Date offering commenced: 9/26/96
4. Underwriters from whom purchased: Salomon Brothers
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 293,250
7. Aggregate principal amount of offering: 477,215,500
8. Purchase price (net of fees and expenses): 19.55
9. Initial public offering price: 19.55
10. Commission, spread or profit: % $ .6452
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of
securities has received an investment grade rating from a nationally
recognized statistical rating organization or, if the issuer or
entity supplying the revenues from which the issue is to be paid
shall have been in continuous operation for less than three years
(including any predecessor), the issue has received one of the three
highest ratings from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount
exceed 10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities,
no purchases were designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 10/1/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Univision
2. Date of Purchase: 9/27/96
3. Date offering commenced: 9/27/96
4. Underwriters from whom purchased: Donaldson Lufkin
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 115,000
7. Aggregate principal amount of offering: 187,910,000
8. Purchase price (net of fees and expenses): 23
9. Initial public offering price: 23
10. Commission, spread or profit: % $ .93
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of
securities has received an investment grade rating from a
nationally recognized statistical rating organization or, if the
issuer or entity supplying the revenues from which the issue
is to be paid shall have been in continuous operation for less than
three years (including any predecessor), the issue has received one
of the three highest ratings from at least one such rating
organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 10/1/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Film Roman
2. Date of Purchase: 9/30/96
3. Date offering commenced: 9/30/96
4. Underwriters from whom purchased: Donaldson Lufkin
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 100,000
7. Aggregate principal amount of offering: 32,000,000
8. Purchase price (net of fees and expenses): 10
9. Initial public offering price: 10
10. Commission, spread or profit: % $ .42
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the
Securities Act of 1933 which is being offered to the public or are
"municipal securities" as defined in Section 3(a)(29) of the
Securities Exchange Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of
securities has received an investment grade rating from a nationally
recognized statistical rating organization or, if the issuer or
entity supplying the revenues from which the issue is to be paid
shall have been in continuous operation for less than three years
(including any predecessor), the issue has received one of the three
highest ratings from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities,
no purchases were designated as group sales or otherwise allocated
to the account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 10/2/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Superior Telecom
2. Date of Purchase: 10/1/96
3. Date offering commenced: 10/1/96
4. Underwriters from whom purchased: B. T. Securities
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 80,000
7. Aggregate principal amount of offering: 90,000,000
8. Purchase price (net of fees and expenses): 12
9. Initial public offering price: 12
10. Commission, spread or profit: % $ .67
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of
securities has received an investment grade rating from a nationally
recognized statistical rating organization or, if the issuer or
entity supplying the revenues from which the issue is to be paid
shall have been in continuous operation for less than three years
(including any predecessor), the issue has received one of the three
highest ratings from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 10/28/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Stage Stores
2. Date of Purchase: 10/24/96
3. Date offering commenced: 10/24/96
4. Underwriters from whom purchased: First Boston
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 33,000
7. Aggregate principal amount of offering: 181,500,00
8. Purchase price (net of fees and expenses): 16 1/2
9. Initial public offering price: 16 1/2
10. Commission, spread or profit: % $ .60
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933, the
issuer of the securities and its predecessor have been in continuous
operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 10/28/96
FORM 10f-3 FUND: Series Trust - Balanced
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: National Eldwell
2. Date of Purchase: 10/28/96
3. Date offering commenced: 10/28/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 170,000
7. Aggregate principal amount of offering: 68,000,000
8. Purchase price (net of fees and expenses): 17
9. Initial public offering price: 17
10. Commission, spread or profit: % $ .72
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased on
or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation to
that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933, the
issuer of the securities and its predecessor have been in continuous
operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 11/17/96
FORM 10f-3 FUND: Series Trust - Growth & Income
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: National Eldwell
2. Date of Purchase: 10/24/96
3. Date offering commenced: 10/24/96
4. Underwriters from whom purchased: Merrill Lynch
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 110,500
7. Aggregate principal amount of offering: 68,000,000
8. Purchase price (net of fees and expenses): 17
9. Initial public offering price: 17
10. Commission, spread or profit: % $ .72
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation to
that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of securities
has received an investment grade rating from a nationally recognized
statistical rating organization or, if the issuer or entity supplying
the revenues from which the issue is to be paid shall have been in
continuous operation for less than three years (including any
predecessor), the issue has received one of the three highest ratings
from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Mark Tincher Date: 11/17/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Aurum Software
2. Date of Purchase: 10/29/96
3. Date offering commenced: 10/29/96
4. Underwriters from whom purchased: Alex Brown
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 64,000
7. Aggregate principal amount of offering: 42,400,000
8. Purchase price (net of fees and expenses): 16
9. Initial public offering price: 16
10. Commission, spread or profit: % $ .65
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities Act
of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of
securities has received an investment grade rating from a
nationally recognized statistical rating organization or, if the
issuer or entity supplying the revenues from which the issue is to
be paid shall have been in continuous operation for less than three
years (including any predecessor), the issue has received one of the
three highest ratings from at least one such rating
organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities,
no purchases were designated as group sales or ,otherwise allocated
to the account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen Harris Date: 11/17/96
FORM 10f-3 FUND: Series Trust - Growth
Record of Securities Purchased Under the Fund's Rule 10f-3 Procedures
1. Issuer: Ingram
2. Date of Purchase: 10/31/96
3. Date offering commenced: 10/31/96
4. Underwriters from whom purchased: Morgan Stanley
5. "Affiliated Underwriter" managing or participating in syndicate:
PaineWebber
6. Aggregate principal amount of purchase: 54,000
7. Aggregate principal amount of offering: 360,000,000
8. Purchase price (net of fees and expenses): 18
9. Initial public offering price: 18
10. Commission, spread or profit: % $ .5844
11. Have the following conditions been satisfied?
YES
NO
a. The securities are part of an issue registered under the Securities
Act of 1933 which is being offered to the public or are "municipal
securities" as defined in Section 3(a)(29) of the Securities Exchange
Act of 1934.
____x__________
b. The securities were purchased prior to the end of the end first full
business day of the offering at not more than the initial offering
price (or, if a rights offering, , the securities were purchased
on or before the fourth day preceding the day on which the offering
terminated.
___x_________
c. The underwriting was a firm commitment underwriting.
___x___________
d. The commission, spread or profit was reasonable and fair in relation
to that being received by others for underwriting similar securities
during the same period.
___x__________
e. (1) If securities are registered under the Securities Act of 1933,
the issuer of the securities and its predecessor have been in
continuous operation for not less than three years.
___x___________
(2) If securities are municipal securities, the issue of
securities has received an investment grade rating from a nationally
recognized statistical rating organization or, if the issuer or
entity supplying the revenues from which the issue is to be paid
shall have been in continuous operation for less than three years
(including any predecessor), the issue has received one of the three
highest ratings from at least one such rating organization.
__ n/a________
f. The amount of such securities purchased by all of the investment
companies advised by Mitchell Hutchins did not exceed 4% of the
principal amount of the offering or $500,000 in principal amount,
whichever is greater, provided that in no event did such amount exceed
10% of the principal amount of the offering.
____x__________
g. The purchase price was less than 3% of the Fund's total assets.
____x__________
h. No Affiliated Underwriter was a direct or indirect participant in or
beneficiary of the sale or, with respect to municipal securities, no
purchases were designated as group sales or otherwise allocated to the
account of any Affiliated Underwriter.
____x__________
Approved: /s/ Ellen R. Harris Date: 11/25/96
