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<PAGE> PAGE 14
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<PAGE> PAGE 17
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 40
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070 J020800 N
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070 L020800 N
070 M010800 Y
070 M020800 N
070 N010800 Y
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070 O010800 Y
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070 P010800 N
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070 Q020800 N
070 R010800 N
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<PAGE> PAGE 41
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008 A000901 COVA INVESTMENT ADVISORY CORPORATION
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008 A000902 J.P. MORGAN INVESTMENT MANAGEMENT INC.
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<PAGE> PAGE 42
008 C000902 801-21011
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015 A000901 INVESTORS BANK & TRUST COMPANY
015 B000901 C
015 C010901 BOSTON
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015 E010901 X
024 000900 Y
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025 A000902 PAINE WEBBER GROUP, INC.
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025 C000902 E
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025 A000903 LEHMAN BROTHERS HOLDINGS, INC.
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025 C000903 E
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025 A000904 BEAR STEARNS COMPANIES, INC.
025 B000904 13-4946705
025 C000904 E
025 D000904 178
025 A000905 MERRILL LYNCH, PIERCE & FENNER
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<PAGE> PAGE 43
028 C010900 6476
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<PAGE> PAGE 44
062 E000900 0.0
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070 E020900 N
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070 F020900 Y
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070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 N
070 K020900 N
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070 L020900 Y
070 M010900 Y
070 M020900 N
070 N010900 Y
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070 O010900 Y
<PAGE> PAGE 45
070 O020900 N
070 P010900 N
070 P020900 N
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070 Q020900 N
070 R010900 N
070 R020900 N
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<PAGE> PAGE 46
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008 A001001 COVA INVESTMENT ADVISORY CORPORATION
008 B001001 A
008 C001001 801-45567
008 D011001 OAKBROOK TERRACE
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008 A001002 J.P. MORGAN INVESTMENT MANAGEMENT CORP.
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<PAGE> PAGE 47
015 D011002 AUSTRIA
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015 A001003 PARIBAS
015 B001003 S
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015 A001004 INVESTORS BANK & TRUST COMPANY
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<PAGE> PAGE 48
015 D011012 ITALY
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015 A001022 BANK LEU LTD
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<PAGE> PAGE 49
015 E041022 X
015 A001023 MIDLAND BANK
015 B001023 S
015 C011023 -
015 D011023 UNITED KINGDOM
015 E041023 X
015 A001024 DELETE
024 001000 Y
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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008 A001101 COVA INVESTMENT ADVISORY CORPORATION
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008 D011101 OAKBROOK TERRACE
008 D021101 IL
008 D031101 60181
008 D041101 4644
008 A001102 LORD, ABBETT & CO.
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015 B001101 C
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015 E011101 X
024 001100 Y
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<PAGE> PAGE 54
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<PAGE> PAGE 55
048 J011100 0
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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008 A001201 COVA INVESTMENT ADVISORY CORPORATION
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<PAGE> PAGE 58
008 D031202 10153
015 A001201 INVESTORS BANK & TRUST COMPANY
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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<PAGE> PAGE 61
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<PAGE> PAGE 62
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<PAGE> PAGE 63
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<PAGE> PAGE 64
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<PAGE> PAGE 65
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<PAGE> PAGE 66
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<PAGE> PAGE 67
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<PAGE> PAGE 68
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<PAGE> PAGE 69
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<PAGE> PAGE 70
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<PAGE> PAGE 71
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<PAGE> PAGE 72
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<PAGE> PAGE 73
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<PAGE> PAGE 74
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<PAGE> PAGE 75
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<PAGE> PAGE 76
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<PAGE> PAGE 77
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<PAGE> PAGE 78
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<PAGE> PAGE 79
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<PAGE> PAGE 80
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<PAGE> PAGE 81
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<PAGE> PAGE 82
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<PAGE> PAGE 83
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<PAGE> PAGE 84
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<PAGE> PAGE 85
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<PAGE> PAGE 86
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<PAGE> PAGE 87
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<PAGE> PAGE 88
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<PAGE> PAGE 89
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<PAGE> PAGE 90
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<PAGE> PAGE 91
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<PAGE> PAGE 92
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SIGNATURE TIMOTHY OSBORNE
TITLE ASSISTANT TREASURER
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This schedule contains summary financial
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> Cova VKAC Growth & Income Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 0
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 0
<PER-SHARE-NAV-BEGIN> 0.00
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 6
<NAME> Cova Small Cap Stock Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 69,465,636
<INVESTMENTS-AT-VALUE> 77,489,208
<RECEIVABLES> 855,142
<ASSETS-OTHER> 3,774,975
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 82,119,325
<PAYABLE-FOR-SECURITIES> 650,607
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 144,722
<TOTAL-LIABILITIES> 795,329
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 76,384,771
<SHARES-COMMON-STOCK> 6,400,974
<SHARES-COMMON-PRIOR> 6,523,058
<ACCUMULATED-NII-CURRENT> 352,647
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,436,994)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8,023,572
<NET-ASSETS> 81,323,996
<DIVIDEND-INCOME> 401,440
<INTEREST-INCOME> 86,502
<OTHER-INCOME> 0
<EXPENSES-NET> 387,330
<NET-INVESTMENT-INCOME> 100,612
<REALIZED-GAINS-CURRENT> 566,833
<APPREC-INCREASE-CURRENT> 3,934,337
<NET-CHANGE-FROM-OPS> 4,601,782
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 277,693
<NUMBER-OF-SHARES-REDEEMED> (399,777)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,162,688
<ACCUMULATED-NII-PRIOR> 252,035
<ACCUMULATED-GAINS-PRIOR> (4,003,827)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 319,343
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 419,928
<AVERAGE-NET-ASSETS> 75,762,319
<PER-SHARE-NAV-BEGIN> 11.98
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0.71
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.71
<EXPENSE-RATIO> 1.03
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 7
<NAME> Cova Quality Bond Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 87,472,507
<INVESTMENTS-AT-VALUE> 85,063,159
<RECEIVABLES> 2,003,709
<ASSETS-OTHER> 16,651,412
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 103,718,280
<PAYABLE-FOR-SECURITIES> 7,764,161
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 117,634
<TOTAL-LIABILITIES> 7,881,795
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 95,660,932
<SHARES-COMMON-STOCK> 8,884,562
<SHARES-COMMON-PRIOR> 4,157,310
<ACCUMULATED-NII-CURRENT> 3,492,504
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (856,750)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2,460,201)
<NET-ASSETS> 95,836,485
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2,735,019
<OTHER-INCOME> 0
<EXPENSES-NET> 288,216
<NET-INVESTMENT-INCOME> 2,446,803
<REALIZED-GAINS-CURRENT> (1,365,787)
<APPREC-INCREASE-CURRENT> (2,911,219)
<NET-CHANGE-FROM-OPS> (1,830,203)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,540,465
<NUMBER-OF-SHARES-REDEEMED> (813,213)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 50,024,434
<ACCUMULATED-NII-PRIOR> 1,045,701
<ACCUMULATED-GAINS-PRIOR> 509,037
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 242,816
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 320,904
<AVERAGE-NET-ASSETS> 90,542,382
<PER-SHARE-NAV-BEGIN> 11.02
<PER-SHARE-NII> 0.14
<PER-SHARE-GAIN-APPREC> (0.38)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.79
<EXPENSE-RATIO> 0.64
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 8
<NAME> Cova Select Equity Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 211,045,126
<INVESTMENTS-AT-VALUE> 240,849,997
<RECEIVABLES> 1,957,542
<ASSETS-OTHER> 1,659,825
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 244,467,364
<PAYABLE-FOR-SECURITIES> 2,072,266
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 202,174
<TOTAL-LIABILITIES> 2,274,440
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 180,861,413
<SHARES-COMMON-STOCK> 13,527,853
<SHARES-COMMON-PRIOR> 12,301,851
<ACCUMULATED-NII-CURRENT> 1,108,041
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 30,418,599
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 29,804,871
<NET-ASSETS> 242,192,924
<DIVIDEND-INCOME> 1,316,820
<INTEREST-INCOME> 58,966
<OTHER-INCOME> 0
<EXPENSES-NET> 851,390
<NET-INVESTMENT-INCOME> 524,396
<REALIZED-GAINS-CURRENT> 11,933,405
<APPREC-INCREASE-CURRENT> 11,647,567
<NET-CHANGE-FROM-OPS> 24,105,368
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,305,654
<NUMBER-OF-SHARES-REDEEMED> (79,652)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 44,424,741
<ACCUMULATED-NII-PRIOR> 583,645
<ACCUMULATED-GAINS-PRIOR> 18,485,194
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 721,735
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 851,802
<AVERAGE-NET-ASSETS> 216,220,459
<PER-SHARE-NAV-BEGIN> 16.08
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 1.79
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.90
<EXPENSE-RATIO> 0.79
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 9
<NAME> Cova Large Cap Stock Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 208,349,574
<INVESTMENTS-AT-VALUE> 235,159,519
<RECEIVABLES> 878,558
<ASSETS-OTHER> 5,567,887
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 241,605,964
<PAYABLE-FOR-SECURITIES> 423,599
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 173,626
<TOTAL-LIABILITIES> 597,225
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 195,528,783
<SHARES-COMMON-STOCK> 11,796,442
<SHARES-COMMON-PRIOR> 5,727,886
<ACCUMULATED-NII-CURRENT> 1,178,359
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 17,275,804
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 27,025,793
<NET-ASSETS> 241,008,739
<DIVIDEND-INCOME> 1,495,313
<INTEREST-INCOME> 150,485
<OTHER-INCOME> 0
<EXPENSES-NET> 783,614
<NET-INVESTMENT-INCOME> 862,184
<REALIZED-GAINS-CURRENT> 10,621,106
<APPREC-INCREASE-CURRENT> 10,679,964
<NET-CHANGE-FROM-OPS> 22,163,254
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 7,137,833
<NUMBER-OF-SHARES-REDEEMED> (1,069,277)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 137,247,496
<ACCUMULATED-NII-PRIOR> 316,175
<ACCUMULATED-GAINS-PRIOR> 6,654,698
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 679,861
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 813,900
<AVERAGE-NET-ASSETS> 210,904,034
<PER-SHARE-NAV-BEGIN> 18.12
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> 2.27
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.43
<EXPENSE-RATIO> 0.75
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 10
<NAME> Cova International Equity Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 101,157,447
<INVESTMENTS-AT-VALUE> 111,373,950
<RECEIVABLES> 2,346,499
<ASSETS-OTHER> 2,030,115
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 115,750,564
<PAYABLE-FOR-SECURITIES> 2,513,299
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 114,264
<TOTAL-LIABILITIES> 2,627,563
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 96,441,728
<SHARES-COMMON-STOCK> 8,323,648
<SHARES-COMMON-PRIOR> 8,125,765
<ACCUMULATED-NII-CURRENT> 810,477
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,291,560
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 10,579,236
<NET-ASSETS> 113,123,001
<DIVIDEND-INCOME> 1,165,626
<INTEREST-INCOME> 5,851
<OTHER-INCOME> 0
<EXPENSES-NET> 530,469
<NET-INVESTMENT-INCOME> 641,007
<REALIZED-GAINS-CURRENT> 3,946,055
<APPREC-INCREASE-CURRENT> 1,472,480
<NET-CHANGE-FROM-OPS> 6,059,542
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 505,586
<NUMBER-OF-SHARES-REDEEMED> (307,703)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 8,647,705
<ACCUMULATED-NII-PRIOR> 169,470
<ACCUMULATED-GAINS-PRIOR> 1,345,505
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 425,931
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 586,322
<AVERAGE-NET-ASSETS> 108,497,785
<PER-SHARE-NAV-BEGIN> 12.86
<PER-SHARE-NII> 0.08
<PER-SHARE-GAIN-APPREC> 0.66
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.59
<EXPENSE-RATIO> 0.99
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 11
<NAME> Cova Bond Debenture Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 159,608,103
<INVESTMENTS-AT-VALUE> 154,860,624
<RECEIVABLES> 3,468,966
<ASSETS-OTHER> 5,343,387
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 163,672,977
<PAYABLE-FOR-SECURITIES> 342,500
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 128,598
<TOTAL-LIABILITIES> 471,098
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 158,027,313
<SHARES-COMMON-STOCK> 13,052,273
<SHARES-COMMON-PRIOR> 9,692,597
<ACCUMULATED-NII-CURRENT> 8,625,341
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,296,704
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (4,747,479)
<NET-ASSETS> 163,201,879
<DIVIDEND-INCOME> 273,062
<INTEREST-INCOME> 5,788,264
<OTHER-INCOME> 0
<EXPENSES-NET> 660,347
<NET-INVESTMENT-INCOME> 5,400,979
<REALIZED-GAINS-CURRENT> 265,898
<APPREC-INCREASE-CURRENT> (4,375,867)
<NET-CHANGE-FROM-OPS> 1,291,010
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3,641,483
<NUMBER-OF-SHARES-REDEEMED> (281,807)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 43,199,374
<ACCUMULATED-NII-PRIOR> 3,224,362
<ACCUMULATED-GAINS-PRIOR> 1,030,806
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 583,148
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 684,312
<AVERAGE-NET-ASSETS> 156,794,727
<PER-SHARE-NAV-BEGIN> 12.38
<PER-SHARE-NII> 0.33
<PER-SHARE-GAIN-APPREC> (0.21)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.50
<EXPENSE-RATIO> 0.85
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 12
<NAME> Cova Mid-Cap Value Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 23,511,092
<INVESTMENTS-AT-VALUE> 26,040,738
<RECEIVABLES> 166,112
<ASSETS-OTHER> 1,624,510
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 27,831,360
<PAYABLE-FOR-SECURITIES> 628,680
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 41,316
<TOTAL-LIABILITIES> 669,996
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 24,130,574
<SHARES-COMMON-STOCK> 2,301,369
<SHARES-COMMON-PRIOR> 1,731,193
<ACCUMULATED-NII-CURRENT> 91,028
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 410,116
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,529,646
<NET-ASSETS> 27,161,364
<DIVIDEND-INCOME> 149,734
<INTEREST-INCOME> 34,978
<OTHER-INCOME> 0
<EXPENSES-NET> 127,247
<NET-INVESTMENT-INCOME> 57,465
<REALIZED-GAINS-CURRENT> 636,089
<APPREC-INCREASE-CURRENT> 2,144,851
<NET-CHANGE-FROM-OPS> 2,838,405
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 597,243
<NUMBER-OF-SHARES-REDEEMED> (27,067)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 8,840,805
<ACCUMULATED-NII-PRIOR> 33,563
<ACCUMULATED-GAINS-PRIOR> (225,973)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 107,945
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 162,844
<AVERAGE-NET-ASSETS> 21,767,980
<PER-SHARE-NAV-BEGIN> 10.58
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 1.20
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.80
<EXPENSE-RATIO> 1.18
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 13
<NAME> Cova Large Cap Research Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 20,329,656
<INVESTMENTS-AT-VALUE> 23,970,106
<RECEIVABLES> 461,079
<ASSETS-OTHER> 1,968,541
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 26,399,726
<PAYABLE-FOR-SECURITIES> 952,645
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 32,174
<TOTAL-LIABILITIES> 984,819
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21,495,572
<SHARES-COMMON-STOCK> 1,872,760
<SHARES-COMMON-PRIOR> 1,158,927
<ACCUMULATED-NII-CURRENT> 92,996
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 185,889
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3,640,450
<NET-ASSETS> 25,414,907
<DIVIDEND-INCOME> 134,511
<INTEREST-INCOME> 29,181
<OTHER-INCOME> 0
<EXPENSES-NET> 113,867
<NET-INVESTMENT-INCOME> 49,825
<REALIZED-GAINS-CURRENT> 316,971
<APPREC-INCREASE-CURRENT> 2,171,750
<NET-CHANGE-FROM-OPS> 2,538,546
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 718,356
<NUMBER-OF-SHARES-REDEEMED> (4,523)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 11,549,016
<ACCUMULATED-NII-PRIOR> 43,171
<ACCUMULATED-GAINS-PRIOR> (131,082)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 96,344
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 141,897
<AVERAGE-NET-ASSETS> 19,428,593
<PER-SHARE-NAV-BEGIN> 11.96
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 1.60
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.57
<EXPENSE-RATIO> 1.18
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 14
<NAME> Cova Developing Growth Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 19,987,486
<INVESTMENTS-AT-VALUE> 22,120,268
<RECEIVABLES> 25,811
<ASSETS-OTHER> 1,724,796
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 23,870,875
<PAYABLE-FOR-SECURITIES> 13,381
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 28,222
<TOTAL-LIABILITIES> 41,603
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,856,926
<SHARES-COMMON-STOCK> 1,831,248
<SHARES-COMMON-PRIOR> 1,413,656
<ACCUMULATED-NII-CURRENT> (68,824)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,908,388
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,132,782
<NET-ASSETS> 23,829,272
<DIVIDEND-INCOME> 14,460
<INTEREST-INCOME> 19,791
<OTHER-INCOME> 0
<EXPENSES-NET> 103,075
<NET-INVESTMENT-INCOME> (68,824)
<REALIZED-GAINS-CURRENT> 2,303,925
<APPREC-INCREASE-CURRENT> 734,938
<NET-CHANGE-FROM-OPS> 2,970,039
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 450,229
<NUMBER-OF-SHARES-REDEEMED> (32,637)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 7,938,807
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (395,537)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 86,142
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 131,208
<AVERAGE-NET-ASSETS> 19,301,229
<PER-SHARE-NAV-BEGIN> 11.24
<PER-SHARE-NII> (0.04)
<PER-SHARE-GAIN-APPREC> 1.81
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.01
<EXPENSE-RATIO> 1.08
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 15
<NAME> Cova Balanced Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 6,430,634
<INVESTMENTS-AT-VALUE> 7,123,047
<RECEIVABLES> 46,602
<ASSETS-OTHER> 931,160
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 8,100,809
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,001
<TOTAL-LIABILITIES> 15,001
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 7,294,426
<SHARES-COMMON-STOCK> 661,019
<SHARES-COMMON-PRIOR> 401,205
<ACCUMULATED-NII-CURRENT> 80,789
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 18,180
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 692,413
<NET-ASSETS> 8,085,808
<DIVIDEND-INCOME> 23,243
<INTEREST-INCOME> 89,912
<OTHER-INCOME> 0
<EXPENSES-NET> 32,731
<NET-INVESTMENT-INCOME> 80,424
<REALIZED-GAINS-CURRENT> 6,130
<APPREC-INCREASE-CURRENT> 389,576
<NET-CHANGE-FROM-OPS> 476,130
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 262,094
<NUMBER-OF-SHARES-REDEEMED> (2,280)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 3,513,050
<ACCUMULATED-NII-PRIOR> 365
<ACCUMULATED-GAINS-PRIOR> 12,050
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 29,755
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 70,188
<AVERAGE-NET-ASSETS> 6,000,263
<PER-SHARE-NAV-BEGIN> 11.40
<PER-SHARE-NII> 0.12
<PER-SHARE-GAIN-APPREC> 0.71
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.23
<EXPENSE-RATIO> 1.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 16
<NAME> Cova Small Cap Equity Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 2,369,302
<INVESTMENTS-AT-VALUE> 2,681,891
<RECEIVABLES> 18,506
<ASSETS-OTHER> 180,029
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 2,880,426
<PAYABLE-FOR-SECURITIES> 2,744
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14,746
<TOTAL-LIABILITIES> 17,490
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,636,814
<SHARES-COMMON-STOCK> 264,851
<SHARES-COMMON-PRIOR> 233,159
<ACCUMULATED-NII-CURRENT> (4,018)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (82,449)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 312,589
<NET-ASSETS> 2,862,936
<DIVIDEND-INCOME> 5,446
<INTEREST-INCOME> 3,974
<OTHER-INCOME> 0
<EXPENSES-NET> 13,438
<NET-INVESTMENT-INCOME> (4,018)
<REALIZED-GAINS-CURRENT> (28,915)
<APPREC-INCREASE-CURRENT> 207,757
<NET-CHANGE-FROM-OPS> 174,824
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 40,543
<NUMBER-OF-SHARES-REDEEMED> (8,851)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 490,625
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (53,534)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 12,217
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52,437
<AVERAGE-NET-ASSETS> 2,463,604
<PER-SHARE-NAV-BEGIN> 10.18
<PER-SHARE-NII> (0.02)
<PER-SHARE-GAIN-APPREC> 0.65
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.81
<EXPENSE-RATIO> 1.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 17
<NAME> Cova Equity Income Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 5,745,372
<INVESTMENTS-AT-VALUE> 6,298,319
<RECEIVABLES> 20,282
<ASSETS-OTHER> 572,689
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,891,290
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 13,091
<TOTAL-LIABILITIES> 13,091
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,010,766
<SHARES-COMMON-STOCK> 531,976
<SHARES-COMMON-PRIOR> 403,852
<ACCUMULATED-NII-CURRENT> 51,305
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 263,181
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 552,947
<NET-ASSETS> 6,878,199
<DIVIDEND-INCOME> 66,836
<INTEREST-INCOME> 15,031
<OTHER-INCOME> 0
<EXPENSES-NET> 30,562
<NET-INVESTMENT-INCOME> 51,305
<REALIZED-GAINS-CURRENT> 177,050
<APPREC-INCREASE-CURRENT> 405,159
<NET-CHANGE-FROM-OPS> 633,514
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 133,647
<NUMBER-OF-SHARES-REDEEMED> (5,523)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 2,183,062
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 86,131
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 27,783
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 66,714
<AVERAGE-NET-ASSETS> 5,602,674
<PER-SHARE-NAV-BEGIN> 11.63
<PER-SHARE-NII> 0.10
<PER-SHARE-GAIN-APPREC> 1.21
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.93
<EXPENSE-RATIO> 1.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 18
<NAME> Cova Growth & Income Equity Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 10,925,514
<INVESTMENTS-AT-VALUE> 13,224,192
<RECEIVABLES> 18,727
<ASSETS-OTHER> 1,135,831
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 14,378,750
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 19,397
<TOTAL-LIABILITIES> 19,397
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 12,000,337
<SHARES-COMMON-STOCK> 1,051,196
<SHARES-COMMON-PRIOR> 755,861
<ACCUMULATED-NII-CURRENT> 32,913
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 27,425
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,298,678
<NET-ASSETS> 14,359,353
<DIVIDEND-INCOME> 74,881
<INTEREST-INCOME> 19,336
<OTHER-INCOME> 0
<EXPENSES-NET> 61,304
<NET-INVESTMENT-INCOME> 32,913
<REALIZED-GAINS-CURRENT> (75,873)
<APPREC-INCREASE-CURRENT> 1,628,072
<NET-CHANGE-FROM-OPS> 1,585,112
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 303,326
<NUMBER-OF-SHARES-REDEEMED> (7,991)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 5,292,858
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 103,298
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 55,731
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 96,411
<AVERAGE-NET-ASSETS> 11,238,565
<PER-SHARE-NAV-BEGIN> 12.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 1.63
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.66
<EXPENSE-RATIO> 1.10
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial
information extracted from Cova Series Trust
financial statements at June 30, 1999
and is qualified in its entirety by reference
to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 19
<NAME> Lord Abbett Growth and Income Portfolio
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 771,614,432
<INVESTMENTS-AT-VALUE> 853,048,705
<RECEIVABLES> 1,346,758
<ASSETS-OTHER> 31,026,803
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 885,422,266
<PAYABLE-FOR-SECURITIES> 321,933
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,824,939
<TOTAL-LIABILITIES> 3,146,872
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 804,697,880
<SHARES-COMMON-STOCK> 37,255,014
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 4,979,358
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (8,836,117)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 81,434,273
<NET-ASSETS> 882,275,394
<DIVIDEND-INCOME> 6,997,761
<INTEREST-INCOME> 730,032
<OTHER-INCOME> 0
<EXPENSES-NET> 2,748,435
<NET-INVESTMENT-INCOME> 4,979,358
<REALIZED-GAINS-CURRENT> (8,836,117)
<APPREC-INCREASE-CURRENT> 81,434,273
<NET-CHANGE-FROM-OPS> 77,577,514
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 37,875,935
<NUMBER-OF-SHARES-REDEEMED> (620,921)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 882,275,394
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,514,162
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,748,435
<AVERAGE-NET-ASSETS> 784,801,058
<PER-SHARE-NAV-BEGIN> 21.60
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> 1.95
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.68
<EXPENSE-RATIO> 0.71
</TABLE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #1: Select Equity Portfolio, purchase of Delphi Automotive System
Corp.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Morgan Stanley. Morgan Stanley was not an affiliated underwriter of
the Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan Securities Inc. was the affiliated underwriter of the Fund and the
syndicate included various other underwriters.
3. Terms of the transaction.
The Select Equity Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 29,000 shares of common stock of Delphi Automotive
Systems Corp., a company in continuous operation for greater than 3 years, in an
initial public offering at the offering price of $17 per share on February 4,
1999. The underwriting spread paid was $0.7888 per share. The percentage of the
offering purchased by the Select Equity Portfolio was 0.03% of the total
offering. The percentage of the offering purchased by associated funds of the
Sub-adviser was 0.57%. This purchase represented 0.24% of the Select Equity
Portfolio's assets. The security purchased was part of an issue registered with
the Securities and Exchange Commission and was part of a firm commitment
underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 first quarter meeting as well
as information supporting the reasonableness of the $0.7888 per share spread
paid to certify that the purchase was made in compliance with the Board adopted
rule 10f-3 procedures.
<PAGE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #2: Small Cap Stock Portfolio, purchase of Comps.Com, Inc.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Volpe, Brown, Whelan & Co. Volpe, Brown, Whelan & Co. was not an
affiliated underwriter of the Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan Securities Inc. was the affiliated underwriter of the Fund and the
syndicate included various other underwriters.
3. Terms of the transaction.
The Small Cap Stock Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 1,300 shares of common stock of Comps.Com, Inc., a
company in continuous operation for greater than 3 years, in an initial public
offering at the offering price of $15 per share on May 5, 1999. The underwriting
spread paid was $1.05 per share. The percentage of the offering purchased by the
Small Cap Stock Portfolio was 0.03% of the total offering. The percentage of the
offering purchased by associated funds of the Sub-adviser was 0.36%. This
purchase represented 0.03% of the Small Cap Stock Portfolio's assets. The
security purchased was part of an issue registered with the Securities and
Exchange Commission and was part of a firm commitment underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 second quarter meeting as
well as information supporting the reasonableness of the $1.05 per share spread
paid to certify that the purchase was made in compliance with the Board adopted
rule 10f-3 procedures.
<PAGE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #3: Small Cap Stock Portfolio, purchase of CapRock Communications
Corp.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Merrill Lynch. Merrill Lynch was not an affiliated underwriter of the
Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan Securities Inc. was the affiliated underwriter of the Fund and the
syndicate included various other underwriters.
3. Terms of the transaction.
The Small Cap Stock Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 10,200 shares of common stock of CapRock
Communications Corp., a company in continuous operation for greater than 3
years, in an initial public offering at the offering price of $22 per share on
May 6, 1999. The underwriting spread paid was $1.32 per share. The percentage of
the offering purchased by the Small Cap Stock Portfolio was 0.26% of the total
offering. The percentage of the offering purchased by associated funds of the
Sub-adviser was 3.33%. This purchase represented 0.30% of the Small Cap Stock
Portfolio's assets. The security purchased was part of an issue registered with
the Securities and Exchange Commission and was part of a firm commitment
underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 second quarter meeting as
well as information supporting the reasonableness of the $1.32 per share spread
paid to certify that the purchase was made in compliance with the Board adopted
rule 10f-3 procedures.
<PAGE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #4: Small Capital Stock Portfolio, purchase of Media Metrix, Inc.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Donaldson, Lufkin & Jenrette. Donaldson, Lufkin & Jenrette was not an
affiliated underwriter of the Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan Securities Inc. was the affiliated underwriter of the Fund and the
syndicate included various other underwriters.
3. Terms of the transaction.
The Small Cap Stock Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 500 shares of common stock of Media Metrix, Inc., a
company in continuous operation for greater than 3 years, in an initial public
offering at the offering price of $17 per share on May 7, 1999. The underwriting
spread paid was $1.19 per share. The percentage of the offering purchased by the
Small Cap Stock Portfolio was .02% of the total offering. The percentage of the
offering purchased by associated funds of the Sub-adviser was 0.22%. This
purchase represented 0.01% of the Small Cap Stock Portfolio's assets. The
security purchased was part of an issue registered with the Securities and
Exchange Commission and was part of a firm commitment underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 second quarter meeting as
well as information supporting the reasonableness of the $1.19 per share spread
paid to certify that the purchase was made in compliance with the Board adopted
rule 10f-3 procedures.
<PAGE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #5: Small Capital Stock Portfolio, purchase of DLJdirect Inc.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Donaldson, Lufkin & Jenrette, Donaldson, Lufkin & Jenrette was not an
affiliated underwriter of the Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan Securities Inc. was the affiliated underwriter of the Fund and the
syndicate included various other underwriters.
3. Terms of the transaction.
The Small Cap Stock Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 1,500 shares of common stock of DLJdirect Inc, a
company in continuous operation for greater than 3 years, in an initial public
offering at the offering price of $20 per share on May 25, 1999. The
underwriting spread paid was $1.35 per share. The percentage of the offering
purchased by the Small Cap Stock Portfolio was 0.01% of the total offering. The
percentage of the offering purchased by associated funds of the Sub-adviser was
0.12%. This purchase represented 0.04% of the Small Cap Stock Portfolio's
assets. The security purchased was part of an issue registered with the
Securities and Exchange Commission and was part of a firm commitment
underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 second quarter meeting as
well as information supporting the reasonableness of the $1.35 per share spread
paid to certify that the purchase was made in compliance with the Board adopted
rule 10f-3 procedures.
<PAGE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #6: Select Equity Portfolio, purchase of Level 3 Communications.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Salomon Smith Barney. Salomon Smith Barney was not an affiliated
underwriter of the Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan Securities Inc. was the affiliated underwriter of the Fund and the
syndicate included various other underwriters.
3. Terms of the transaction.
The Select Equity Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 15,100 shares of common stock of Level 3
Communications, a company in continuous operation for greater than 3 years, in
an initial public offering at the offering price of $54 per share on March 3,
1999. The underwriting spread paid was $1.89 per share. The percentage of the
offering purchased by the Select Equity Portfolio was 0.06% of the total
offering. The percentage of the offering purchased by associated funds of the
Sub-adviser was 1.63%. This purchase represented 0.41% of the Select Equity
Portfolio's assets. The security purchased was part of an issue registered with
the Securities and Exchange Commission and was part of a firm commitment
underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 first quarter meeting as well
as information supporting the reasonableness of the $1.89 per share spread paid
to certify that the purchase was made in compliance with the Board adopted rule
10f-3 procedures.
<PAGE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #7: Large Cap Stock Portfolio, purchase of Level 3 Communications.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Salomon Smith Barney. Salomon Smith Barney was not an affiliated
underwriter of the Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan & Co. was the affiliated underwriter of the Fund and the syndicate
included various other underwriters.
3. Terms of the transaction.
The Large Cap Stock Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 8,000 shares of common stock of Level 3
Communications, a company in continuous operation for greater than 3 years, in
an initial public offering at the offering price of $54 per share on March 3,
1999. The underwriting spread paid was $1.89 per share. The percentage of the
offering purchased by the Large Cap Stock Portfolio was 0.03% of the total
offering. The percentage of the offering purchased by associated funds of the
Sub-adviser was 1.63%. This purchase represented 0.21% of the Large Cap Stock
Portfolio's assets. The security purchased was part of an issue registered with
the Securities and Exchange Commission and was part of a firm commitment
underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 first quarter meeting as well
as information supporting the reasonableness of the $1.89 per share spread paid
to certify that the purchase was made in compliance with the Board adopted rule
10f-3 procedures.
<PAGE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #8: Select Equity Portfolio, purchase of Goldman Sachs Group, Inc.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Goldman Sachs. Goldman Sachs was not an affiliated underwriter of the
Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan Securities Inc.was the affiliated underwriter of the Fund and the
syndicate included various other underwriters.
3. Terms of the transaction.
The Select Equity Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 5,800 shares of common stock of Goldman Sachs Group,
Inc., a company in continuous operation for greater than 3 years, in an initial
public offering at the offering price of $53 per share on May 3, 1999. The
underwriting spread paid was $2.25 per share. The percentage of the offering
purchased by the Select Equity Portfolio was 0.01% of the total offering. The
percentage of the offering purchased by associated funds of the Sub-adviser was
0.25%. This purchase represented 0.13% of the Select Equity Portfolio's assets.
The security purchased was part of an issue registered with the Securities and
Exchange Commission and was part of a firm commitment underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 second quarter meeting as
well as information supporting the reasonableness of the $2.25 per share spread
paid to certify that the purchase was made in compliance with the Board adopted
rule 10f-3 procedures.
<PAGE>
Cova Series Trust
Form: N-SAR June 30, 1999
Attachment - Item 77O
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transactions effected
pursuant to Rule 10f-3
- -------------------------------------------------------------------------------
- --------------------------------------------------------
Transaction #9: Large Cap Stock Portfolio, purchase of Goldman Sachs Group, Inc.
If any such transactions were effected during the reporting period, the
following information should be furnished:
1. From whom was the securities acquired.
Goldman Sachs. Goldman Sachs was not an affiliated underwriter of the
Fund.
2. Identify the underwriting syndicate's members.
J.P. Morgan Securities Inc. was the affiliated underwriter of the Fund and the
syndicate included various other underwriters.
3. Terms of the transaction.
The Large Cap Stock Portfolio, managed by J.P. Morgan Investment
Management Inc., purchased 2,700 shares of common stock of Goldman Sachs Group,
Inc., a company in continuous operation for greater than 3 years, in an initial
public offering at the offering price of $53 per share on May 3, 1999. The
underwriting spread paid was $2.25 per share. The percentage of the offering
purchased by the Large Cap Stock Portfolio was 0.01% of the total offering. The
percentage of the offering purchased by associated funds of the Sub-adviser was
0.25%. This purchase represented 0.06% of the Large Cap Stock Portfolio's
assets. The security purchased was part of an issue registered with the
Securities and Exchange Commission and was part of a firm commitment
underwriting.
4. Information or materials upon which the determination described in paragraph
(h)(3) of the rule 10f-3 was made.
The information described in item 1 through 3 above was provided to the
Board of Directors at its regularly scheduled 1999 second quarter meeting as
well as information supporting the reasonableness of the $2.25 per share spread
paid to certify that the purchase was made in compliance with the Board adopted
rule 10f-3 procedures.
