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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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SIGNATURE THOMAS M. REYNOLDS
TITLE CONTROLLER
[ARTICLE] 6
[CIK] 0000886043
[NAME] MANAGED MUNICIPALS PORTFOLIO I
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] MAY-31-1995
[PERIOD-END] NOV-30-1995
[INVESTMENTS-AT-COST] 399,573,721
[INVESTMENTS-AT-VALUE] 422,453,244
[RECEIVABLES] 17,456,814
[ASSETS-OTHER] 7,395,880
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 447,305,938
[PAYABLE-FOR-SECURITIES] 6,746,872
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 3,598,756
[TOTAL-LIABILITIES] 10,345,628
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 412,278,884
[SHARES-COMMON-STOCK] 34,498,420
[SHARES-COMMON-PRIOR] 34,498,420
[ACCUMULATED-NII-CURRENT] 11,452,336
[OVERDISTRIBUTION-NII] (13,247,394)
[ACCUMULATED-NET-GAINS] 17,287,847
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 722,098
[NET-ASSETS] 436,960,310
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 13,669,033
[OTHER-INCOME] 0
[EXPENSES-NET] 2,216,697
[NET-INVESTMENT-INCOME] 11,452,336
[REALIZED-GAINS-CURRENT] 5,113,413
[APPREC-INCREASE-CURRENT] 722,098
[NET-CHANGE-FROM-OPS] 17,287,847
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] 13,247,393
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 0
[NUMBER-OF-SHARES-REDEEMED] 0
[SHARES-REINVESTED] 0
[NET-CHANGE-IN-ASSETS] 4,040,453
[ACCUMULATED-NII-PRIOR] 24,693,217
[ACCUMULATED-GAINS-PRIOR] (1,996,370)
[OVERDISTRIB-NII-PRIOR] (23,147,994)
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 1,506,572
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 2,216,697
[AVERAGE-NET-ASSETS] 429,273,098
[PER-SHARE-NAV-BEGIN] 12.55
[PER-SHARE-NII] 0.33
[PER-SHARE-GAIN-APPREC] 0.17
[PER-SHARE-DIVIDEND] 0.38
[PER-SHARE-DISTRIBUTIONS] 0.38
[RETURNS-OF-CAPITAL] 4.68
[PER-SHARE-NAV-END] 12.67
[EXPENSE-RATIO] 1.03
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
