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<PAGE> PAGE 23
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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 33
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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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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<PAGE> PAGE 54
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<PAGE> PAGE 55
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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SIGNATURE GEOFFREY B. SALE
TITLE SECRETARY/CLERK
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> MENTOR GROWTH PORTFOLIO CLASS Y
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> MENTOR PERPETUAL GLOBAL PORTFOLIO CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> MENTOR PERPETUAL GLOBAL PORTFOLIO CLASS Y
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> MENTOR CAPITAL GROWTH PORTFOLIO CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> MENTOR CAPITAL GROWTH PORTFOLIO CLASS Y
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> MENTOR STRATEGY PORTFOLIO CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<SERIES>
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<NAME> MENTOR STRATEGY PORTFOLIO CLASS Y
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> MENTOR INCOME AND GROWTH PORTFOLIO CLASS A
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
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<NAME> MENTOR INCOME AND GROWTH PORTFOLIO CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
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<NAME> MENTOR INCOME AND GROWTH PORTFOLIO CLASS Y
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
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<NAME> MENTOR MUNI INCOME PORTFOLIO CLASS A
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
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<NAME> MENTOR MUNI INCOME PORTFOLIO CLASS B
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> MENTOR MUNI INCOME PORTFOLIO CLASS Y
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> MENTOR QUALITY INCOME PORTFOLIO CLASS A
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<EXPENSE-RATIO> 1.05
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<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> MENTOR QUALITY INCOME PORTFOLIO CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 236236
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<NUMBER-OF-SHARES-SOLD> 2099
<NUMBER-OF-SHARES-REDEEMED> 622
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<PER-SHARE-GAIN-APPREC> (0.05)
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 6
<NAME> MENTOR QUALITY INCOME PORTFOLIO CLASS Y
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 236236
<INVESTMENTS-AT-VALUE> 237717
<RECEIVABLES> 2583
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<OTHER-ITEMS-ASSETS> 237
<TOTAL-ASSETS> 240560
<PAYABLE-FOR-SECURITIES> 67020
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<PAID-IN-CAPITAL-COMMON> 186938
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<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (916)
<ACCUMULATED-NET-GAINS> (15104)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1481
<NET-ASSETS> 172400
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5381
<OTHER-INCOME> 0
<EXPENSES-NET> 1046
<NET-INVESTMENT-INCOME> 4335
<REALIZED-GAINS-CURRENT> (5)
<APPREC-INCREASE-CURRENT> (435)
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<NET-CHANGE-IN-ASSETS> 44178
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<ACCUMULATED-GAINS-PRIOR> (15098)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1102
<AVERAGE-NET-ASSETS> 156491
<PER-SHARE-NAV-BEGIN> 13.22
<PER-SHARE-NII> 0.39
<PER-SHARE-GAIN-APPREC> (0.19)
<PER-SHARE-DIVIDEND> 0.00
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<EXPENSE-RATIO> 0.80
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<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> MENTOR SHORT DURATION INCOME CLASS A
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 90305
<INVESTMENTS-AT-VALUE> 109569
<RECEIVABLES> 1238
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 20
<TOTAL-ASSETS> 110827
<PAYABLE-FOR-SECURITIES> 3396
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 765
<TOTAL-LIABILITIES> 4161
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 107220
<SHARES-COMMON-STOCK> 4653
<SHARES-COMMON-PRIOR> 2188
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (348)
<ACCUMULATED-NET-GAINS> (291)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 86
<NET-ASSETS> 106666
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2678
<OTHER-INCOME> 0
<EXPENSES-NET> 435
<NET-INVESTMENT-INCOME> 2243
<REALIZED-GAINS-CURRENT> (118)
<APPREC-INCREASE-CURRENT> (213)
<NET-CHANGE-FROM-OPS> 1912
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1399
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3937
<NUMBER-OF-SHARES-REDEEMED> 1556
<SHARES-REINVESTED> 84
<NET-CHANGE-IN-ASSETS> 51958
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (176)
<OVERDISTRIB-NII-PRIOR> 96
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 217
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 495
<AVERAGE-NET-ASSETS> 87492
<PER-SHARE-NAV-BEGIN> 12.62
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> (0.05)
<PER-SHARE-DIVIDEND> 0.38
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.54
<EXPENSE-RATIO> 0.85
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> MENTOR SHORT DURATION INCOME CLASS B
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 90305
<INVESTMENTS-AT-VALUE> 109569
<RECEIVABLES> 1238
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 20
<TOTAL-ASSETS> 110827
<PAYABLE-FOR-SECURITIES> 3396
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 765
<TOTAL-LIABILITIES> 4161
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 107220
<SHARES-COMMON-STOCK> 3852
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<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (348)
<ACCUMULATED-NET-GAINS> (291)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 86
<NET-ASSETS> 106666
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2678
<OTHER-INCOME> 0
<EXPENSES-NET> 435
<NET-INVESTMENT-INCOME> 2243
<REALIZED-GAINS-CURRENT> (118)
<APPREC-INCREASE-CURRENT> (213)
<NET-CHANGE-FROM-OPS> 1912
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1096
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2171
<NUMBER-OF-SHARES-REDEEMED> 530
<SHARES-REINVESTED> 64
<NET-CHANGE-IN-ASSETS> 51958
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (176)
<OVERDISTRIB-NII-PRIOR> 96
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<GROSS-ADVISORY-FEES> 217
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 495
<AVERAGE-NET-ASSETS> 87492
<PER-SHARE-NAV-BEGIN> 12.62
<PER-SHARE-NII> 0.35
<PER-SHARE-GAIN-APPREC> (0.07)
<PER-SHARE-DIVIDEND> 0.36
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.54
<EXPENSE-RATIO> 1.14
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 7
<NAME> MENTOR SHORT DURATION INCOME CLASS Y
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 90305
<INVESTMENTS-AT-VALUE> 109569
<RECEIVABLES> 1238
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 20
<TOTAL-ASSETS> 110827
<PAYABLE-FOR-SECURITIES> 3396
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 765
<TOTAL-LIABILITIES> 4161
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 107220
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (348)
<ACCUMULATED-NET-GAINS> (291)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 86
<NET-ASSETS> 106666
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2678
<OTHER-INCOME> 0
<EXPENSES-NET> 435
<NET-INVESTMENT-INCOME> 2243
<REALIZED-GAINS-CURRENT> (118)
<APPREC-INCREASE-CURRENT> (213)
<NET-CHANGE-FROM-OPS> 1912
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 0
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<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 51958
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (176)
<OVERDISTRIB-NII-PRIOR> 96
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 217
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 495
<AVERAGE-NET-ASSETS> 87492
<PER-SHARE-NAV-BEGIN> 12.58
<PER-SHARE-NII> 0.40
<PER-SHARE-GAIN-APPREC> (0.11)
<PER-SHARE-DIVIDEND> 0.06
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 12.81
<EXPENSE-RATIO> 0.61
<AVG-DEBT-OUTSTANDING> 0.00
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 9
<NAME> MENTOR BALANCED PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
<PERIOD-END> MAR-31-1998
<INVESTMENTS-AT-COST> 3481
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<OTHER-ITEMS-ASSETS> 907
<TOTAL-ASSETS> 5165
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 911
<TOTAL-LIABILITIES> 911
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2794
<SHARES-COMMON-STOCK> 244
<SHARES-COMMON-PRIOR> 233
<ACCUMULATED-NII-CURRENT> 48
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 652
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 760
<NET-ASSETS> 4254
<DIVIDEND-INCOME> 15
<INTEREST-INCOME> 48
<OTHER-INCOME> 0
<EXPENSES-NET> 9
<NET-INVESTMENT-INCOME> 54
<REALIZED-GAINS-CURRENT> 505
<APPREC-INCREASE-CURRENT> (27)
<NET-CHANGE-FROM-OPS> 532
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 93
<DISTRIBUTIONS-OF-GAINS> 441
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 23
<SHARES-REINVESTED> 34
<NET-CHANGE-IN-ASSETS> 152
<ACCUMULATED-NII-PRIOR> 69
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<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-EXPENSE> 42
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<PER-SHARE-NAV-BEGIN> 17.61
<PER-SHARE-NII> 0.32
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<PER-SHARE-DIVIDEND> 0.41
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<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 10
<NAME> MENTOR INSTITUTIONAL U.S. GOVERNMENT MONEY MARKET PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1998
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<ACCUM-APPREC-OR-DEPREC> 0
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<INTEREST-INCOME> 2236
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> MENTOR INSTITUTIONAL MONEY MARKET PORTFOLIO
<MULTIPLIER> 1000
<S> <C>
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</TABLE>
