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<PAGE> PAGE 19
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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
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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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<PAGE> PAGE 35
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SIGNATURE RICHARD RUSSELL
TITLE TREASURER
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<NAME> EQUITY MANAGERS TRUST
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<EXPENSES-NET> (34,306)
<NET-INVESTMENT-INCOME> 66,858
<REALIZED-GAINS-CURRENT> 871,150
<APPREC-INCREASE-CURRENT> 1,570,338
<NET-CHANGE-FROM-OPS> 2,508,346
<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> 2,525,665
<ACCUMULATED-NII-PRIOR> 189,659
<ACCUMULATED-GAINS-PRIOR> 455,033
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 32,887
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 34,306
<AVERAGE-NET-ASSETS> 7,502,735
<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> .46
<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 Neuberger&Berman Manhattan Portfolio 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> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 522,622
<INVESTMENTS-AT-VALUE> 615,904
<RECEIVABLES> 20,770
<ASSETS-OTHER> 27
<OTHER-ITEMS-ASSETS> 12
<TOTAL-ASSETS> 636,713
<PAYABLE-FOR-SECURITIES> 14,593
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 377
<TOTAL-LIABILITIES> 14,970
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 204,678
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 7,173
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 316,610
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 93,282
<NET-ASSETS> 621,743
<DIVIDEND-INCOME> 3,638
<INTEREST-INCOME> 934
<OTHER-INCOME> 0
<EXPENSES-NET> (3,418)
<NET-INVESTMENT-INCOME> 1,154
<REALIZED-GAINS-CURRENT> 180,525
<APPREC-INCREASE-CURRENT> 10,646
<NET-CHANGE-FROM-OPS> 192,325
<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> 54,317
<ACCUMULATED-NII-PRIOR> 6,019
<ACCUMULATED-GAINS-PRIOR> 136,085
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,093
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,418
<AVERAGE-NET-ASSETS> 581,060
<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> .59
<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 Neuberger&Berman Partners Portfolio 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> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 2,882,508
<INVESTMENTS-AT-VALUE> 3,584,061
<RECEIVABLES> 30,758
<ASSETS-OTHER> 94
<OTHER-ITEMS-ASSETS> 19
<TOTAL-ASSETS> 3,614,932
<PAYABLE-FOR-SECURITIES> 32,033
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7,326
<TOTAL-LIABILITIES> 39,359
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,754,354
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 77,754
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,041,912
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 701,553
<NET-ASSETS> 3,575,573
<DIVIDEND-INCOME> 35,022
<INTEREST-INCOME> 6,410
<OTHER-INCOME> 0
<EXPENSES-NET> (13,116)
<NET-INVESTMENT-INCOME> 28,316
<REALIZED-GAINS-CURRENT> 531,668
<APPREC-INCREASE-CURRENT> 473,597
<NET-CHANGE-FROM-OPS> 1,033,581
<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> 1,575,970
<ACCUMULATED-NII-PRIOR> 49,438
<ACCUMULATED-GAINS-PRIOR> 510,244
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 12,498
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 13,116
<AVERAGE-NET-ASSETS> 2,705,496
<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> .48
<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 Neuberger&Berman Genesis Portfolio 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> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 858,349
<INVESTMENTS-AT-VALUE> 1,130,629
<RECEIVABLES> 551
<ASSETS-OTHER> 19
<OTHER-ITEMS-ASSETS> 26
<TOTAL-ASSETS> 1,131,225
<PAYABLE-FOR-SECURITIES> 31,635
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 15,939
<TOTAL-LIABILITIES> 47,574
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 771,893
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 2,800
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 36,678
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 272,280
<NET-ASSETS> 1,083,651
<DIVIDEND-INCOME> 4,129
<INTEREST-INCOME> 1,749
<OTHER-INCOME> 0
<EXPENSES-NET> (4,150)
<NET-INVESTMENT-INCOME> 1,728
<REALIZED-GAINS-CURRENT> 18,411
<APPREC-INCREASE-CURRENT> 211,059
<NET-CHANGE-FROM-OPS> 231,198
<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> 823,787
<ACCUMULATED-NII-PRIOR> 1,072
<ACCUMULATED-GAINS-PRIOR> 18,267
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,881
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,150
<AVERAGE-NET-ASSETS> 539,327
<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> .77
<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 Neuberger&Berman Socially Responsive Portfolio 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> 12-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-END> AUG-31-1997
<INVESTMENTS-AT-COST> 188,564
<INVESTMENTS-AT-VALUE> 255,850
<RECEIVABLES> 3,248
<ASSETS-OTHER> 14
<OTHER-ITEMS-ASSETS> 1
<TOTAL-ASSETS> 259,113
<PAYABLE-FOR-SECURITIES> 2,668
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 164
<TOTAL-LIABILITIES> 2,832
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 160,218
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 4,851
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 23,926
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 67,286
<NET-ASSETS> 256,281
<DIVIDEND-INCOME> 2,881
<INTEREST-INCOME> 612
<OTHER-INCOME> 0
<EXPENSES-NET> (1,279)
<NET-INVESTMENT-INCOME> 2,214
<REALIZED-GAINS-CURRENT> 11,478
<APPREC-INCREASE-CURRENT> 44,043
<NET-CHANGE-FROM-OPS> 57,735
<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> 97,796
<ACCUMULATED-NII-PRIOR> 2,637
<ACCUMULATED-GAINS-PRIOR> 12,448
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,123
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,279
<AVERAGE-NET-ASSETS> 204,186
<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> .63
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>