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<PAGE> PAGE 2
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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SIGNATURE MICHAEL MARTINS
TITLE ASST. TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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THIS SCEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
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<NAME> CUTLER EQUITY INCOME FUND
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<NAME> CUTLER APPROVED LIST EQUITY FUND
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<PER-SHARE-NAV-END> 11.71
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
CUTLER TRUST ANNUAL REPORT DATED JUNE 30, 1995 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH REPORT.
</LEGEND>
<CIK> 0000892568
<NAME> CUTLER GOVERNMENT SECURITES FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> JUN-30-1995
<PERIOD-END> JUN-30-1995
<INVESTMENTS-AT-COST> 6,776,530
<INVESTMENTS-AT-VALUE> 6,723,333
<RECEIVABLES> 90,630
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6,813,963
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 18,380
<TOTAL-LIABILITIES> 18,380
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6,852,735
<SHARES-COMMON-STOCK> 672,700
<SHARES-COMMON-PRIOR> 564,271
<ACCUMULATED-NII-CURRENT> (1,713)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,243)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (53,197)
<NET-ASSETS> 6,795,583
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 321,169
<OTHER-INCOME> 0
<EXPENSES-NET> 44,850
<NET-INVESTMENT-INCOME> 276,319
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 205,221
<NET-CHANGE-FROM-OPS> 481,540
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 278,032
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 139,004
<NUMBER-OF-SHARES-REDEEMED> (58,555)
<SHARES-REINVESTED> 27,980
<NET-CHANGE-IN-ASSETS> 1,261,773
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (2,242)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14,952
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 87,754
<AVERAGE-NET-ASSETS> 5,980,827
<PER-SHARE-NAV-BEGIN> 9.81
<PER-SHARE-NII> .46
<PER-SHARE-GAIN-APPREC> .29
<PER-SHARE-DIVIDEND> (.46)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.10
<EXPENSE-RATIO> .75
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
