<PAGE> PAGE 1
000 B000000 09/30/97
000 C000000 0000825557
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 KEYSTONE GLOBAL OPPORTUNITIES
001 B000000 811-5404
001 C000000 6173383200
002 A000000 200 BERKELEY STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02116
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 N
007 B000000 0
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A000001 KEYSTONE INVESTMENT MANAGEMENT COMPANY
008 B000001 A
008 C000001 801-8327
008 D010001 BOSTON
008 D020001 MA
008 D030001 02110
010 A000001 EVERGREEN INVESTMENT SERVICES, INC.
010 C010001 BOSTON
010 C020001 MA
010 C030001 02116
011 A000001 EVERGREEN DISTRIBUTORS, INC.
011 B000001 8-395
011 C010001 BOSTON
011 C020001 MA
011 C030001 02116
012 A000001 EVERGREEN SERVICE CO.
012 B000001 84-1571
012 C010001 BOSTON
012 C020001 MA
<PAGE> PAGE 2
012 C030001 02116
013 A000001 KPMG PEAT MARWICK LLP
013 B010001 BOSTON
013 B020001 MA
013 B030001 02108
015 A000001 STATE STREET BANK & TRUST COMPANY
015 B000001 C
015 C010001 QUINCY
015 C020001 MA
015 C030001 02171
015 E010001 X
018 000000 Y
019 A000000 Y
019 B000000 75
019 C000000 EVERGREENS
020 A000001 BARING SECURITIES, NY
020 C000001 151
020 A000002 JARDINE FLEMING SECS
020 C000002 127
020 A000003 MERRILL LYNCH PIERCE
020 C000003 123
020 A000004 KOKUSAI SECURITIES HK
020 C000004 122
020 A000005 INSTINET CORP
020 C000005 114
020 A000006 DONALDSON LUFKIN & JENERETE
020 C000006 96
020 A000007 ROBERT FLEMING SECSE & FENNER
020 C000007 66
020 A000008 CREDIT LYONAIS SECS
020 C000008 58
020 A000009 HSBC JAMES CAPEL LTD
020 C000009 54
020 A000010 NOMURA SECURITIES INTL
020 C000010 49
021 000000 2093
022 A000001 BROWN (ALEX) & SONS INC.
022 B000001 52-1319768
022 C000001 4294
022 D000001 5397
022 A000002 SOLOMON BROTHERS INC.
022 B000002 13-3082697
022 C000002 781
022 D000002 5087
022 A000003 MERRILL LYNCH PIERCE
022 B000003 13-5674085
022 C000003 5131
022 D000003 286
022 A000004 PIPER JAFFRAY INC.
022 C000004 2312
022 D000004 2118
<PAGE> PAGE 3
022 A000005 BEAR STEARNS SECURITIES
022 B000005 13-3299429
022 C000005 2158
022 D000005 2145
022 A000006 MORGAN STANLEY & CO.
022 B000006 13-2655998
022 C000006 3202
022 D000006 912
022 A000007 CJ LAWRENCE/DEUTSCHE BANK
022 C000007 1968
022 D000007 1755
022 A000008 DONALDSON LUFKIN & JENRETTE
022 B000008 13-2741729
022 C000008 1634
022 D000008 3549
022 A000009 LEWCO SECURITIESERCE & FENNER
022 C000009 2607
022 D000009 617
022 A000010 SMITH BARNEY INC.
022 C000010 1901
022 D000010 759
023 C000000 401613
023 D000000 25625
024 000000 N
025 D000001 0
025 D000002 0
025 D000003 0
025 D000004 0
025 D000005 0
025 D000006 0
025 D000007 0
025 D000008 0
026 A000000 Y
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
028 A010000 2330
028 A020000 0
028 A030000 0
028 A040000 25436
028 B010000 3475
028 B020000 0
028 B030000 0
028 B040000 27058
028 C010000 2262
<PAGE> PAGE 4
028 C020000 0
028 C030000 0
028 C040000 29189
028 D010000 2424
028 D020000 0
028 D030000 0
028 D040000 28122
028 E010000 2559
028 E020000 0
028 E030000 0
028 E040000 29067
028 F010000 11459
028 F020000 0
028 F030000 0
028 F040000 33104
028 G010000 24509
028 G020000 0
028 G030000 0
028 G040000 171976
028 H000000 16917
029 000000 Y
030 A000000 291
030 B000000 4.75
030 C000000 0.00
031 A000000 0
031 B000000 25
032 000000 316
033 000000 0
034 000000 N
035 000000 0
036 B000000 0
037 000000 N
038 000000 0
039 000000 N
040 000000 Y
041 000000 Y
042 A000000 0
042 B000000 0
042 C000000 100
042 D000000 0
042 E000000 0
042 F000000 0
042 G000000 0
042 H000000 0
043 000000 4133
044 000000 0
045 000000 Y
046 000000 N
047 000000 Y
048 000000 0.000
048 A010000 200000
<PAGE> PAGE 5
048 A020000 1.000
048 B010000 200000
048 B020000 0.950
048 C010000 200000
048 C020000 0.850
048 D010000 0
048 D020000 0.000
048 E010000 0
048 E020000 0.000
048 F010000 0
048 F020000 0.000
048 G010000 0
048 G020000 0.000
048 H010000 0
048 H020000 0.000
048 I010000 0
048 I020000 0.000
048 J010000 0
048 J020000 0.000
048 K010000 600000
048 K020000 0.750
049 000000 N
050 000000 N
051 000000 N
052 000000 N
053 A000000 Y
053 B000000 N
053 C000000 N
054 A000000 Y
054 B000000 N
054 C000000 N
054 D000000 N
054 E000000 N
054 F000000 N
054 G000000 N
054 H000000 Y
054 I000000 N
054 J000000 Y
054 K000000 N
054 L000000 N
054 M000000 Y
054 N000000 N
054 O000000 N
055 A000000 N
055 B000000 N
056 000000 N
057 000000 N
058 A000000 N
059 000000 Y
060 A000000 Y
060 B000000 Y
<PAGE> PAGE 6
061 000000 1000
062 A000000 N
062 B000000 0.0
062 C000000 0.0
062 D000000 0.0
062 E000000 0.0
062 F000000 0.0
062 G000000 0.0
062 H000000 0.0
062 I000000 0.0
062 J000000 0.0
062 K000000 0.0
062 L000000 0.0
062 M000000 0.0
062 N000000 0.0
062 O000000 0.0
062 P000000 0.0
062 Q000000 0.0
062 R000000 0.0
063 A000000 0
063 B000000 0.0
066 A000000 Y
066 B000000 N
066 C000000 N
066 D000000 Y
066 E000000 N
066 F000000 N
066 G000000 N
067 000000 N
068 A000000 N
068 B000000 Y
069 000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 Y
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 N
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
<PAGE> PAGE 7
070 J020000 N
070 K010000 Y
070 K020000 Y
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 Y
070 N010000 Y
070 N020000 N
070 O010000 Y
070 O020000 N
070 P010000 Y
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 Y
070 R020000 N
071 A000000 373518
071 B000000 734655
071 C000000 521967
071 D000000 72
072 A000000 12
072 B000000 959
072 C000000 4353
072 D000000 0
072 E000000 0
072 F000000 5049
072 G000000 0
072 H000000 0
072 I000000 1902
072 J000000 367
072 K000000 0
072 L000000 172
072 M000000 50
072 N000000 156
072 O000000 0
072 P000000 0
072 Q000000 73
072 R000000 15
072 S000000 20
072 T000000 4133
072 U000000 0
072 V000000 0
072 W000000 30
072 X000000 11967
072 Y000000 0
072 Z000000 -6655
072AA000000 26795
072BB000000 0
072CC010000 0
072CC020000 6946
<PAGE> PAGE 8
072DD010000 0
072DD020000 0
072EE000000 36735
073 A010000 0.0000
073 A020000 0.0000
073 B000000 1.2500
073 C000000 0.0000
074 A000000 1
074 B000000 18006
074 C000000 0
074 D000000 0
074 E000000 10511
074 F000000 372749
074 G000000 0
074 H000000 0
074 I000000 485
074 J000000 2111
074 K000000 0
074 L000000 5248
074 M000000 33
074 N000000 409144
074 O000000 2452
074 P000000 314
074 Q000000 0
074 R010000 0
074 R020000 0
074 R030000 0
074 R040000 4440
074 S000000 0
074 T000000 401938
074 U010000 4557
074 U020000 11999
074 V010000 0.00
074 V020000 0.00
074 W000000 0.0000
074 X000000 26617
074 Y000000 0
075 A000000 0
075 B000000 543836
076 000000 0.00
077 A000000 Y
077 B000000 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
<PAGE> PAGE 9
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A000000 VIGILANT INSURANCE COMPANYNY
080 C000000 30000
081 A000000 Y
081 B000000 43
082 A000000 N
082 B000000 0
083 A000000 N
083 B000000 0
084 A000000 N
084 B000000 0
085 A000000 Y
085 B000000 N
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
SIGNATURE J. KEVIN KENELY
TITLE V.P. FUND ADMIN
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
09/30/97 Keystone Global Opportunities Fund CLASS A
Item Number Item Description Totals
FUND LEVEL
6-03- Investments - cost 318,867,501
6-04-4 Investments 401,751,101
6-04-6 Receivables- All 7,359,059
6-04-8 Other assets(includes cash, prepaids,org. costs) 34,063
- -- Balancing amount to total assets 0
6-04-9 Total assets 409,144,223
6-04- Accounts payable for securities 2,451,679
6-04-13 Senior long-term debt 0
- -- Balancing amount to total liabilities 4,754,724
6-04-14 Total liabilities 7,206,403
6-04-16 Senior equity securities 0
CLASS LEVEL
6-04-16 Paid-in-capital - common shareholders 81,040,350
6-04-16 Number of shares or units - current period 4,556,835
6-04-16 Number of shares or units - prior period 6,731,722
6-04-17(a) Accumulated undistributed net investment income
(current year)(positive) 2,345,530
- -- Overdistribution of net investment income(negative) 0
6-04-17(b) Accumulated undistributed net realized gains (losses)(positive) 3,363,304
- -- Overdistribution of realized gains(negative) 0
6-04-17(c) Accumulated net unrealized appreciation (depreciation) 26,728,236
6-04-19 Net assets 113,477,420
6-07-1(a) Dividend income(includes tax withholding) 1,314,993
6-07-1(b) Interest income 287,090
6-07-1(c) Other income 0
6-07-2 Expenses - net (Shown as negative #) (2,754,658)
6-07-6 Net investment income (loss) (1,152,575)
6-07-7(a) Realized gains (losses) on investments 8,373,519
6-07-7(b) Net increase (decrease) in appreciation (depreciation) (3,157,313)
6-07-9 Net increase (decrease) in net asset resulting from
operations 4,063,631
6-09-2 Net equalization charges and credits 0
6-09-3(a) Distributions from net investment income(includes in excess) 0
6-09-3(b) Distributions from realized gains(includes in excess) (11,550,719)
6-09-3(c) Distributions from other sources(return of capital) 0
6-09-4(b) Number of shares sold 1,724,686
6-09-4(b) Number of shares redeemed (7,656,939)
6-09-4(b) Number of shares issued - reinvestment 293,025
Proceeds for shares sold 40,645,838
Payments for shares redeemed (176,796,539)
Shares issued in reinvestment of distributions 6,669,240
6-09-5 Total increase (decrease) (136,968,549)
6-09-7 Accumulated undistributed net investment income (prior
year)(positive) 0
6-04-17(b) Accumulated undistributed net realized gains (prior year)(positive) 0
- -- Overdistribution of net investment income (prior year)(negative) 0
- -- Overdistribution of net realized gains (prior year)(negative) 0
Form N-SAR
Item Number Item Description Totals
72F Gross advisory fees (Shown as a negative #) (1,538,229)
72P Interest Expense (Shown as a negative #) 0
72X Total expenses(gross)(Shown as a negative #)includes reimbursement (2,779,771)
75 Average net assets 166,229,262
Form N-1A
Item Number Item Description Totals
3(a) Net asset value per share - beginning of period(From last annual) 24.56
3(a) Net investment income (loss) per share (0.17)
3(a) Net realized and unrealized gain (loss) per share 1.76
3(a) Dividends per share from net investment income 0.00
3(a) Distributions per share from realized gains (1.25)
3(a) Per share returns of capital and distributions from
other sources 0.00
3(a) Net asset value per share - end of period 24.90
3(a) Ratio of expenses to average net assets 1.67
3(b) Average debt outstanding during period 0
3(b) Average debt outstanding per share 0
CONVERTING FILE......PLEASE WAIT!!!!!
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
09/30/97 Keystone Global Opportunities Fund CLASS B
Item Number Item Description Totals
FUND LEVEL
6-03- Investments - cost 318,867,501
6-04-4 Investments 401,751,101
6-04-6 Receivables- All 7,359,059
6-04-8 Other assets(includes cash, prepaids,org. costs) 34,063
- -- Balancing amount to total assets 0
6-04-9 Total assets 409,144,223
6-04- Accounts payable for securities 2,451,679
6-04-13 Senior long-term debt 0
- -- Balancing amount to total liabilities 4,754,724
6-04-14 Total liabilities 7,206,403
6-04-16 Senior equity securities 0
CLASS LEVEL
6-04-16 Paid-in-capital - common shareholders 188,066,516
6-04-16 Number of shares or units - current period 9,942,489
6-04-16 Number of shares or units - prior period 12,947,708
6-04-17(a) Accumulated undistributed net investment income
(current year)(positive) 0
- -- Overdistribution of net investment income(negative) (2,434,919)
6-04-17(b) Accumulated undistributed net realized gains (losses)(positive) 10,032,944
- -- Overdistribution of realized gains(negative) 0
6-04-17(c) Accumulated net unrealized appreciation (depreciation) 43,271,589
6-04-19 Net assets 238,936,130
6-07-1(a) Dividend income(includes tax withholding) 2,399,150
6-07-1(b) Interest income 535,892
6-07-1(c) Other income 0
6-07-2 Expenses - net (7,226,120)
6-07-6 Net investment income (loss) (4,291,078)
6-07-7(a) Realized gains (losses) on investments 14,292,868
6-07-7(b) Net increase (decrease) in appreciation (depreciation) (991,437)
6-07-9 Net increase (decrease) in net asset resulting from
operations 9,010,353
6-09-2 Net equalization charges and credits 0
6-09-3(a) Distributions from net investment income(includes in excess) 0
6-09-3(b) Distributions from realized gains(includes in excess) (19,127,005)
6-09-3(c) Distributions from other sources(return of capital) 0
6-09-4(b) Number of shares sold 1,025,563
6-09-4(b) Number of shares redeemed (8,009,248)
6-09-4(b) Number of shares issued - reinvestment 798,355
Proceeds for shares sold 23,070,741
Payments for shares redeemed (177,499,072)
Shares issued in reinvestment of distributions 17,651,626
6-09-5 Total increase (decrease) (146,893,357)
6-09-7 Accumulated undistributed net investment income (prior
year)(positive) 0
6-04-17(b) Accumulated undistributed net realized gains (prior year)(positive) 0
- -- Overdistribution of net investment income (prior year)(negative) 0
- -- Overdistribution of net realized gains (prior year)(negative) 0
Form N-SAR
Item Number Item Description Totals
72F Gross advisory fees (Shown as a negative #) (2,753,788)
72P Interest Expense (Shown as a negative #) 0
72X Total expenses(gross)(Shown as a negative #)includes reimbursement (7,270,815)
75 Average net assets 295,851,780
Form N-1A
Item Number Item Description Totals
3(a) Net asset value per share - beginning of period 23.92
3(a) Net investment income (loss) per share (0.32)
3(a) Net realized and unrealized gain (loss) per share 1.68
3(a) Dividends per share from net investment income 0.00
3(a) Distributions per share from realized gains (1.25)
3(a) Per share returns of capital and distributions from
other sources 0.00
3(a) Net asset value per share - end of period 24.03
3(a) Ratio of expenses to average net assets 2.46
3(b) Average debt outstanding during period 0
3(b) Average debt outstanding per share 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
09/30/97 Keystone Global Opportunities Fund CLASS C
Item Number Item Description Totals
FUND LEVEL
6-03- Investments - cost 318,867,501
6-04-4 Investments 401,751,101
6-04-6 Receivables 7,359,059
6-04-8 Other assets 34,063
- -- Balancing amount to total assets 0
6-04-9 Total assets 409,144,223
6-04- Accounts payable for securities 2,451,679
6-04-13 Senior long-term debt 0
- -- Balancing amount to total liabilities 4,754,724
6-04-14 Total liabilities 7,206,403
6-04-16 Senior equity securities 0
CLASS LEVEL
6-04-16 Paid-in-capital - common shareholders 33,532,115
6-04-16 Number of shares or units - current period 2,057,099
6-04-16 Number of shares or units - prior period 3,471,261
6-04-17(a) Accumulated undistributed net investment income
(current year)(positive) 0
- -- Overdistribution of net investment income(negative) (877,168)
6-04-17(b) Accumulated undistributed net realized gains (losses)(positive) 3,150,019
- -- Overdistribution of realized gains(negative) 0
6-04-17(c) Accumulated net unrealized appreciation (depreciation) 13,719,279
6-04-19 Net assets 49,524,245
6-07-1(a) Dividend income(includes tax withholding) 639,182
6-07-1(b) Interest income 136,024
6-07-1(c) Other income 0
6-07-2 Expenses - net (1,986,577)
6-07-6 Net investment income (loss) (1,211,371)
6-07-7(a) Realized gains (losses) on investments 4,128,976
6-07-7(b) Net increase (decrease) in appreciation (depreciation) (2,797,520)
6-07-9 Net increase (decrease) in net asset resulting from
operations 120,085
6-09-2 Net equalization charges and credits 0
6-09-3(a) Distributions from net investment income(includes in excess) 0
6-09-3(b) Distributions from realized gains(includes in excess) (6,057,525)
6-09-3(c) Distributions from other sources(return of capital) 0
6-09-4(b) Number of shares sold 390,436
6-09-4(b) Number of shares redeemed (3,780,382)
6-09-4(b) Number of shares issued - reinvestment 250,089
Proceeds for shares sold 8,779,908
Payments for shares redeemed (83,396,941)
Shares issued in reinvestment of distributions 5,539,478
6-09-5 Total increase (decrease) (75,014,995)
6-09-7 Accumulated undistributed net investment income (prior
year)(positive) 0
6-04-17(b) Accumulated undistributed net realized gains (prior year)(positive) 0
- -- Overdistribution of net investment income (prior year)(negative) 0
- -- Overdistribution of net realized gains (prior year)(negative) 0
Form N-SAR
Item Number Item Description Totals
72F Gross advisory fees (Shown as a negative #) (756,791)
72P Interest Expense (Shown as a negative #) 0
72X Total expenses(gross)(Shown as a negative #)includes reimbursement (1,998,917)
75 Average net assets 81,684,007
Form N-1A
Item Number Item Description Totals
3(a) Net asset value per share - beginning of period 23.97
3(a) Net investment income (loss) per share (0.33)
3(a) Net realized and unrealized gain (loss) per share 1.68
3(a) Dividends per share from net investment income 0.00
3(a) Distributions per share from realized gains (1.25)
3(a) Per share returns of capital and distributions from
other sources 0.00
3(a) Net asset value per share - end of period 24.07
3(a) Ratio of expenses to average net assets 2.45
3(b) Average debt outstanding during period 0
3(b) Average debt outstanding per share 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
09/30/97 Keystone Global Opportunities Fund CLASS Y
Item Number Item Description Totals
FUND LEVEL
6-03- Investments - cost 318,867,501
6-04-4 Investments 401,751,101
6-04-6 Receivables 7,359,059
6-04-8 Other assets 34,063
- -- Balancing amount to total assets 0
6-04-9 Total assets 409,144,223
6-04- Accounts payable for securities 2,451,679
6-04-13 Senior long-term debt 0
- -- Balancing amount to total liabilities 4,754,724
6-04-14 Total liabilities 7,206,403
6-04-16 Senior equity securities 0
CLASS LEVEL
6-04-16 Paid-in-capital - common shareholders 24
6-04-16 Number of shares or units - current period 1
6-04-16 Number of shares or units - prior period 0
6-04-17(a) Accumulated undistributed net investment income
(current year)(positive) 0
- -- Overdistribution of net investment income(negative) 0
6-04-17(b) Accumulated undistributed net realized gains (losses)(positive) 0
- -- Overdistribution of realized gains(negative) 0
6-04-17(c) Accumulated net unrealized appreciation (depreciation) 1
6-04-19 Net assets 25
6-07-1(a) Dividend income(includes tax withholding) 0
6-07-1(b) Interest income 0
6-07-1(c) Other income 0
6-07-2 Expenses - net 0
6-07-6 Net investment income (loss) 0
6-07-7(a) Realized gains (losses) on investments 0
6-07-7(b) Net increase (decrease) in appreciation (depreciation) 1
6-07-9 Net increase (decrease) in net asset resulting from
operations 1
6-09-2 Net equalization charges and credits 0
6-09-3(a) Distributions from net investment income(includes in excess) 0
6-09-3(b) Distributions from realized gains(includes in excess) 0
6-09-3(c) Distributions from other sources(return of capital) 0
6-09-4(b) Number of shares sold 1
6-09-4(b) Number of shares redeemed 0
6-09-4(b) Number of shares issued - reinvestment 0
Proceeds for shares sold 23
Payments for shares redeemed 0
Shares issued in reinvestment of distributions 0
6-09-5 Total increase (decrease) 24
6-09-7 Accumulated undistributed net investment income (prior
year)(positive) 0
6-04-17(b) Accumulated undistributed net realized gains (prior year)(positive) 0
- -- Overdistribution of net investment income (prior year)(negative) 0
- -- Overdistribution of net realized gains (prior year)(negative) 0
Form N-SAR
Item Number Item Description Totals
72F Gross advisory fees (Shown as a negative #) 0
72P Interest Expense (Shown as a negative #) 0
72X Total expenses(gross)(Shown as a negative #)includes reimbursement 0
75 Average net assets 16
Form N-1A
Item Number Item Description Totals
3(a) Net asset value per share - beginning of period 23.05
3(a) Net investment income (loss) per share (0.28)
3(a) Net realized and unrealized gain (loss) per share 2.47
3(a) Dividends per share from net investment income 0.00
3(a) Distributions per share from realized gains 0.00
3(a) Per share returns of capital and distributions from
other sources 0.00
3(a) Net asset value per share - end of period 25.24
3(a) Ratio of expenses to average net assets 1.42
3(b) Average debt outstanding during period 0
3(b) Average debt outstanding per share 0
</TABLE>
The Trustees and Shareholders
Keystone Global Opportunities Fund
In planning and performing our audit of the financial statements of Keystone
Global Opportunities Fund for the year ended September 30, 1997 for Class A,
Class B, and Class C shares and the period from January 13, 1997 (Date of
Initial Public Offering) to September 30, 1997 for Class Y shares, we considered
its internal control, 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 internal control.
The management of Keystone Global Opportunities Fund is responsible for
establishing and maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are required to assess the
expected benefits and related costs of controls. Generally, controls that are
relevant to an audit pertain to the entity's objective of preparing financial
statements for external purposes that are fairly presented in conformity with
generally accepted accounting principles. Those controls include the
safeguarding of assets against unauthorized acquisition, use, or disposition.
Because of inherent limitations in internal control, errors or irregularities
may occur and not be detected. Also, projection of any evaluation of internal
control 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 internal control would not necessarily disclose all matters
in internal control 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 any
specific internal control component 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 internal control,
including controls over safeguarding securities, that we consider to be material
weaknesses as defined above as of September 30, 1997.
This report is intended solely for the information and use of management and the
Securities and Exchange Commission.
October 31, 1997
