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<PAGE> PAGE 7
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 15
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<PAGE> PAGE 20
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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
051 000400 N
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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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SIGNATURE RICHARD RUSSELL
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Focus Portfolio Semi Annual Report and is qualified in
its entirety by reference to such document.
</LEGEND>
<CIK> 0000910055
<NAME> EQUITY MANAGERS TRUST
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<NUMBER> 04
<NAME> NEUBERGER&BERMAN FOCUS PORTFOLIO
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<FN>
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<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Guardian Portfolio Semi Annual Report and is qualified
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</LEGEND>
<CIK> 0000910055
<NAME> EQUITY MANAGERS TRUST
<SERIES>
<NUMBER> 01
<NAME> NEUBERGER&BERMAN GUARDIAN PORTFOLIO
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<S> <C>
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<FN>
<F1>Annualized.
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Manhattan Portfolio Semi Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000910055
<NAME> EQUITY MANAGERS TRUST
<SERIES>
<NUMBER> 02
<NAME> NEUBERGER&BERMAN MANHATTAN PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 531,120
<INVESTMENTS-AT-VALUE> 665,915
<RECEIVABLES> 5,687
<ASSETS-OTHER> 41
<OTHER-ITEMS-ASSETS> 93
<TOTAL-ASSETS> 671,736
<PAYABLE-FOR-SECURITIES> 6,700
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 3,269
<TOTAL-LIABILITIES> 9,969
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 399,616
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 5,790
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 121,566
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 134,795
<NET-ASSETS> 661,767
<DIVIDEND-INCOME> 2,248
<INTEREST-INCOME> 208
<OTHER-INCOME> 0
<EXPENSES-NET> (1,856)
<NET-INVESTMENT-INCOME> 600
<REALIZED-GAINS-CURRENT> 44,990
<APPREC-INCREASE-CURRENT> (22,008)
<NET-CHANGE-FROM-OPS> 23,582
<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> 16,361
<ACCUMULATED-NII-PRIOR> 5,190
<ACCUMULATED-GAINS-PRIOR> 76,576
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,710
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,856
<AVERAGE-NET-ASSETS> 650,458
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> .57<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Partners Portfolio Semi Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000910055
<NAME> EQUITY MANAGERS TRUST
<SERIES>
<NUMBER> 05
<NAME> NEUBERGER&BERMAN PARTNERS PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 1,552,938
<INVESTMENTS-AT-VALUE> 1,895,872
<RECEIVABLES> 7,146
<ASSETS-OTHER> 94
<OTHER-ITEMS-ASSETS> 57
<TOTAL-ASSETS> 1,903,169
<PAYABLE-FOR-SECURITIES> 27,765
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 795
<TOTAL-LIABILITIES> 28,560
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,123,295
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 36,735
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 371,645
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 342,934
<NET-ASSETS> 1,874,609
<DIVIDEND-INCOME> 13,776
<INTEREST-INCOME> 1,257
<OTHER-INCOME> 0
<EXPENSES-NET> (4,342)
<NET-INVESTMENT-INCOME> 10,691
<REALIZED-GAINS-CURRENT> 102,166
<APPREC-INCREASE-CURRENT> 84,761
<NET-CHANGE-FROM-OPS> 197,618
<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> 251,083
<ACCUMULATED-NII-PRIOR> 26,044
<ACCUMULATED-GAINS-PRIOR> 269,479
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4,105
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,342
<AVERAGE-NET-ASSETS> 1,706,849
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> .51<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Genesis Portfolio Semi Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000910055
<NAME> EQUITY MANAGERS TRUST
<SERIES>
<NUMBER> 03
<NAME> NEUBERGER&BERMAN GENESIS PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 120,768
<INVESTMENTS-AT-VALUE> 165,149
<RECEIVABLES> 298
<ASSETS-OTHER> 21
<OTHER-ITEMS-ASSETS> 10
<TOTAL-ASSETS> 165,478
<PAYABLE-FOR-SECURITIES> 1,319
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 126
<TOTAL-LIABILITIES> 1,445
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 103,949
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 734
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 14,969
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 44,381
<NET-ASSETS> 164,033
<DIVIDEND-INCOME> 721
<INTEREST-INCOME> 45
<OTHER-INCOME> 0
<EXPENSES-NET> (633)
<NET-INVESTMENT-INCOME> 133
<REALIZED-GAINS-CURRENT> 2,362
<APPREC-INCREASE-CURRENT> 10,795
<NET-CHANGE-FROM-OPS> 13,290
<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> 21,873
<ACCUMULATED-NII-PRIOR> 601
<ACCUMULATED-GAINS-PRIOR> 12,607
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 624
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 706
<AVERAGE-NET-ASSETS> 147,489
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> .86<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Socially Responsive Portfolio Semi Annual Report and is
qualified in its entirety by reference to such document.
</LEGEND>
<CIK> 0000910055
<NAME> EQUITY MANAGERS TRUST
<SERIES>
<NUMBER> 06
<NAME> NEUBERGER&BERMAN SOCIALLY RESPONSIVE PORTFOLIO
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 106,750
<INVESTMENTS-AT-VALUE> 133,098
<RECEIVABLES> 152
<ASSETS-OTHER> 22
<OTHER-ITEMS-ASSETS> 8
<TOTAL-ASSETS> 133,280
<PAYABLE-FOR-SECURITIES> 4,670
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 80
<TOTAL-LIABILITIES> 4,750
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 93,628
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 1,840
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6,714
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26,348
<NET-ASSETS> 128,530
<DIVIDEND-INCOME> 747
<INTEREST-INCOME> 129
<OTHER-INCOME> 0
<EXPENSES-NET> (366)
<NET-INVESTMENT-INCOME> 510
<REALIZED-GAINS-CURRENT> 5,651
<APPREC-INCREASE-CURRENT> 12,140
<NET-CHANGE-FROM-OPS> 18,301
<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> 31,783
<ACCUMULATED-NII-PRIOR> 1,330
<ACCUMULATED-GAINS-PRIOR> 1,063
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 304
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 366
<AVERAGE-NET-ASSETS> 111,012
<PER-SHARE-NAV-BEGIN> 0
<PER-SHARE-NII> 0
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> .66<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
