EQUITY MANAGERS TRUST
NSAR-A, 1997-04-28
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<PAGE>      PAGE  1
000 A000000 02/28/97
000 C000000 0000910055
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 U
001 A000000 EQUITY MANAGERS TRUST
001 B000000 811-7910
001 C000000 2124768800
002 A000000 605 THIRD AVENUE, 2ND FLOOR
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10158
002 D020000 0180
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  6
008 A00AA01 NEUBERGER&BERMAN MANAGEMENT INCORPORATED
008 B00AA01 A
008 C00AA01 801-8259
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10158
008 D04AA01 0180
008 A00AA02 NEUBERGER&BERMAN, LLC
008 B00AA02 S
008 C00AA02 801-3908
008 D01AA02 NEW YORK
008 D02AA02 NY
008 D03AA02 10158
008 D04AA02 3698
015 A00AA01 WESTPAC BANKING CORPORATION
015 B00AA01 S
015 C01AA01 SYDNEY
015 D01AA01 AUSTRALIA
015 E04AA01 X
015 A00AA02 GIROCREDIT BANK AKTIENGESELLSCHAFT DER SPARKA
015 B00AA02 S
015 C01AA02 VIENNA
015 D01AA02 AUSTRIA
015 E04AA02 X
015 A00AA03 GENERALE BANK
015 B00AA03 S
015 C01AA03 BRUSSELS
015 D01AA03 BELGIUM
<PAGE>      PAGE  2
015 E04AA03 X
015 A00AA04 CANADA TRUSTCO MORTGAGE COMPANY
015 B00AA04 S
015 C01AA04 TORONTO
015 D01AA04 CANADA
015 E04AA04 X
015 A00AA05 DEN DANSKE BANK
015 B00AA05 S
015 C01AA05 COPENHAGEN
015 D01AA05 DENMARK
015 E04AA05 X
015 A00AA06 MERITA BANK LIMITED
015 B00AA06 S
015 C01AA06 HELSINKI
015 D01AA06 FINLAND
015 E04AA06 X
015 A00AA07 BANQUE PARIBAS
015 B00AA07 S
015 C01AA07 PARIS
015 D01AA07 FRANCE
015 E04AA07 X
015 A00AA08 DRESDNER BANK AG
015 B00AA08 S
015 C01AA08 FRANKFURT
015 D01AA08 GERMANY
015 E04AA08 X
015 A00AA09 STANDARD CHARTERED BANK
015 B00AA09 S
015 C01AA09 HONG KONG
015 D01AA09 HONG KONG
015 E04AA09 X
015 A00AA10 BANK OF IRELAND
015 B00AA10 S
015 C01AA10 DUBLIN
015 D01AA10 IRELAND
015 E04AA10 X
015 A00AA11 MORGAN GUARANTY TRUST COMPANY
015 B00AA11 S
015 C01AA11 MILAN
015 D01AA11 ITALY
015 E04AA11 X
015 A00AA12 SUMITOMO TRUST & BANKING CO. LTD.
015 B00AA12 S
015 C01AA12 TOKYO
015 D01AA12 JAPAN
015 E04AA12 X
015 A00AA13 CITIBANK MEXICO, S.A.
015 B00AA13 S
015 C01AA13 MEXICO CITY
015 D01AA13 MEXICO
015 E04AA13 X
<PAGE>      PAGE  3
015 A00AA14 MEESPIERSON N.V.
015 B00AA14 S
015 C01AA14 AMSTERDAM
015 D01AA14 NETHERLANDS
015 E04AA14 X
015 A00AA15 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B00AA15 S
015 C01AA15 WELLINGTON
015 D01AA15 NEW ZEALAND
015 E04AA15 X
015 A00AA16 CHRISTIANIA BANK OG KREDITKASSE
015 B00AA16 S
015 C01AA16 OSLO
015 D01AA16 NORWAY
015 E04AA16 X
015 A00AA17 BANCO SANTANDER, S.A.
015 B00AA17 S
015 C01AA17 MADRID
015 D01AA17 SPAIN
015 E04AA17 X
015 A00AA18 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA18 S
015 C01AA18 STOCKHOLM
015 D01AA18 SWEDEN
015 E04AA18 X
015 A00AA19 UNION BANK OF SWITZERLAND
015 B00AA19 S
015 C01AA19 ZURICH
015 D01AA19 SWITZERLAND
015 E04AA19 X
015 A00AA20 STATE STREET BANK LONDON LIMITED
015 B00AA20 S
015 C01AA20 LONDON
015 D01AA20 UNITED KINGDOM
015 E04AA20 X
015 A00AA21 THE HONG KONG SHANGHAI BANKING CORP. LTD.
015 B00AA21 S
015 C01AA21 SHANGHAI
015 D01AA21 CHINA
015 E04AA21 X
015 A00AA22 DEUTSCHE BANK AG
015 B00AA22 S
015 C01AA22 BOMBAY
015 D01AA22 INDIA
015 E04AA22 X
015 A00AA23 BANK HAPOALIM B.M.
015 B00AA23 S
015 C01AA23 TEL AVIV
015 D01AA23 ISRAEL
015 E04AA23 X
015 A00AA24 DAIWA BANK LIMITED
<PAGE>      PAGE  4
015 B00AA24 S
015 C01AA24 TOKYO
015 D01AA24 JAPAN
015 E04AA24 X
015 A00AA25 STATE STREET BANK & TRUST COMPANY
015 B00AA25 C
015 C01AA25 BOSTON
015 C02AA25 MA
015 C03AA25 02110
015 E01AA25 X
015 A00AA26 BANQUE PARIBAS
015 B00AA26 S
015 C01AA26 MILAN
015 D01AA26 ITALY
015 E04AA26 X
015 A00AA27 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B00AA27 S
015 C01AA27 KUALA LUMPUR
015 D01AA27 MALAYSIA
015 E04AA27 X
015 A00AA28 BANCO COMMERCIAL PORTUGUES
015 B00AA28 S
015 C01AA28 LISBON
015 D01AA28 PORTUGAL
015 E04AA28 X
015 A00AA29 THE DEVELOPMENT BANK OF SINGAPORE, LIMITED
015 B00AA29 S
015 C01AA29 SINGAPORE
015 D01AA29 SINGAPORE
015 E04AA29 X
015 A00AA30 EUROCLEAR
015 B00AA30 S
015 C01AA30 LUXEMBOURG
015 D01AA30 LUXEMBOURG
015 E04AA30 X
015 A00AA31 THE HONG KONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA31 S
015 C01AA31 MUMBAI
015 D01AA31 INDIA
015 E04AA31 X
015 A00AA32 THE FUJI BANK, LIMITED
015 B00AA32 S
015 C01AA32 TOKYO
015 D01AA32 JAPAN
015 E04AA32 X
015 A00AA33 CREDIT SUISSE/CREDIT SUISSE (MOSCOW) LIMITED
015 B00AA33 S
015 C01AA33 MOSCOW
015 D01AA33 RUSSIA
015 E04AA33 X
015 A00AA34 CEDEL
<PAGE>      PAGE  5
015 B00AA34 S
015 C01AA34 LUXEMBOURG
015 D01AA34 LUXEMBOURG
015 E04AA34 X
020 A000001 NEUBERGER&BERMAN, LLC
020 B000001 13-5521910
020 C000001   5280
020 A000002 GOLDMAN, SACHS & CO.
020 B000002 13-5108880
020 C000002    396
020 A000003 MORGAN (J.P.) SECURITIES INC.
020 B000003 13-3224016
020 C000003    299
020 A000004 DEUTSCHE BANKN MORGAN GRENFELL/C.J. LAWRENCE
020 B000004 13-3082694
020 C000004    242
020 A000005 BERNSTEIN (SANFORD C.) & CO., INC.
020 B000005 13-2625874
020 C000005    240
020 A000006 SALOMON BROTHERS INC.
020 B000006 13-3082694
020 C000006    196
020 A000007 MORGAN STANLEY & CO. INC.
020 B000007 13-2655998
020 C000007    184
020 A000008 DONALDSON,LUFKIN & JENRETTE SECURITIES CORP.
020 B000008 13-2741729
020 C000008    182
020 A000009 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000009 13-5674085
020 C000009    145
020 A000010 PAINE WEBBER INCORPORATED
020 B000010 13-2638166
020 C000010    134
021  000000     8439
022 A000001 GENERAL ELECTRIC CAPITAL CORP,
022 B000001 13-1500700
022 C000001   3703076
022 D000001      2640
022 A000002 HSBC SECURITIES, INC.
022 B000002 13-2650272
022 C000002   2089681
022 D000002   1139773
022 A000003 STATE STREET BANK & TRUST COMPANY, N.A.
022 B000003 04-1867445
022 C000003   1085162
022 D000003         0
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004    117276
022 D000004    125722
<PAGE>      PAGE  6
022 A000005 MORGAN STANLEY & CO. INCORPORATED
022 B000005 13-2655998
022 C000005    116048
022 D000005    120021
022 A000006 DEUTSCHE MORGAN GRENFELL/C.J. LAWRENCE
022 B000006 13-3082694
022 C000006    164449
022 D000006      4120
022 A000007 EXXON CREDIT CORP.
022 B000007 13-3072653
022 C000007    158600
022 D000007         0
022 A000008 SALOMON BROTHERS INC.
022 B000008 13-3082694
022 C000008     65644
022 D000008     62544
022 A000009 SMITH BARNEY INC.
022 B000009 13-1912900
022 C000009     93443
022 D000009     24094
022 A000010 CS FIRST BOSTON CORPORATION
022 B000010 13-5659485
022 C000010     30812
022 D000010     63224
023 C000000    7863714
023 D000000    1724002
062 A00AA00 N
062 B00AA00   0.0
062 C00AA00   0.0
062 D00AA00   0.0
062 E00AA00   0.0
062 F00AA00   0.0
062 G00AA00   0.0
062 H00AA00   0.0
062 I00AA00   0.0
062 J00AA00   0.0
062 K00AA00   0.0
062 L00AA00   0.0
062 M00AA00   0.0
062 N00AA00   0.0
062 O00AA00   0.0
062 P00AA00   0.0
062 Q00AA00   0.0
062 R00AA00   0.0
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 Y
077 E000000 N
077 F000000 N
077 G000000 N
<PAGE>      PAGE  7
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 C00AA00        0
081 A00AA00 N
081 B00AA00   0
082 A00AA00 N
082 B00AA00        0
083 A00AA00 N
083 B00AA00        0
084 A00AA00 N
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
025 A000101 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
025 B000101 13-5674085
025 C000101 E
025 D000101  153600
025 A000102 GENERAL ELECTRIC CAPITAL CORP.
025 B000102 13-1500700
025 C000102 D
025 D000102   89240
025 D000103       0
025 D000104       0
025 D000105       0
025 D000106       0
025 D000107       0
025 D000108       0
071 A000100   1616370
<PAGE>      PAGE  8
071 B000100   1397632
071 C000100   6712415
071 D000100   20
072 A000100  6
074 N000100  7863540
074 T000100  7546899
075 A000100  6986209
075 B000100        0
071 A000200    126829
071 B000200    227455
071 C000200    588787
071 D000200   22
072 A000200  6
074 N000200   606283
074 T000200   581104
075 A000200   581837
075 B000200        0
076  000200     0.00
071 A000300    237149
071 B000300     35909
071 C000300    359344
071 D000300   10
072 A000300  6
074 N000300   511840
074 T000300   510920
075 A000300   372107
075 B000300        0
071 A000400    530416
071 B000400    518273
071 C000400   1225238
071 D000400   42
072 A000400  6
074 N000400  1397640
074 T000400  1339282
075 A000400  1248585
075 B000400        0
071 A000500   1006818
071 B000500    742841
071 C000500   2234670
071 D000500   33
072 A000500  6
074 N000500  2736939
074 T000500  2681393
075 A000500  2338521
075 B000500        0
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
<PAGE>      PAGE  9
070 D010600 Y
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 Y
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 Y
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 N
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 Y
070 O010600 Y
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 Y
070 R020600 N
071 A000600     60285
071 B000600     40655
071 C000600    173958
071 D000600   23
072 A000600  6
074 N000600   205861
074 T000600   202716
075 A000600   182252
075 B000600        0
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
<SERIES>
   <NUMBER> 04
   <NAME> NEUBERGER&BERMAN FOCUS PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-31-1997
<PERIOD-END>                               FEB-28-1997
<INVESTMENTS-AT-COST>                          966,473
<INVESTMENTS-AT-VALUE>                       1,383,855
<RECEIVABLES>                                   10,700
<ASSETS-OTHER>                                      35
<OTHER-ITEMS-ASSETS>                             3,050
<TOTAL-ASSETS>                               1,397,640
<PAYABLE-FOR-SECURITIES>                        19,736
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       38,622
<TOTAL-LIABILITIES>                             58,358
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       640,203
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                       30,077
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        251,517
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       417,485
<NET-ASSETS>                                 1,339,282
<DIVIDEND-INCOME>                                6,241
<INTEREST-INCOME>                                  611
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (3,304)
<NET-INVESTMENT-INCOME>                          3,548
<REALIZED-GAINS-CURRENT>                       111,507
<APPREC-INCREASE-CURRENT>                      131,395
<NET-CHANGE-FROM-OPS>                          246,450
<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>                         216,911
<ACCUMULATED-NII-PRIOR>                         26,529
<ACCUMULATED-GAINS-PRIOR>                      140,010
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            3,096
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  3,304
<AVERAGE-NET-ASSETS>                         1,248,585
<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>                                    .53<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 Guardian Portfolio Semi Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000910055
<NAME> EQUITY MANAGERS TRUST
<SERIES>
   <NUMBER> 01
   <NAME> NEUBERGER&BERMAN GUARDIAN PORTFOLIO
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          AUG-31-1997
<PERIOD-END>                               FEB-28-1997
<INVESTMENTS-AT-COST>                        5,781,435
<INVESTMENTS-AT-VALUE>                       7,825,239
<RECEIVABLES>                                   38,107
<ASSETS-OTHER>                                     152
<OTHER-ITEMS-ASSETS>                                42
<TOTAL-ASSETS>                               7,863,540
<PAYABLE-FOR-SECURITIES>                       111,780
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      204,861
<TOTAL-LIABILITIES>                            316,641
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     4,599,460
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                      221,182
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        682,586
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     2,043,671
<NET-ASSETS>                                 7,546,899
<DIVIDEND-INCOME>                               39,640
<INTEREST-INCOME>                                7,768
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                (15,885)
<NET-INVESTMENT-INCOME>                         31,523
<REALIZED-GAINS-CURRENT>                       227,553
<APPREC-INCREASE-CURRENT>                    1,018,651
<NET-CHANGE-FROM-OPS>                        1,277,727
<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>                       1,314,357
<ACCUMULATED-NII-PRIOR>                        189,659
<ACCUMULATED-GAINS-PRIOR>                      455,033
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                           15,220
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 15,885
<AVERAGE-NET-ASSETS>                         6,986,209
<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<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 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-31-1997
<PERIOD-END>                               FEB-28-1997
<INVESTMENTS-AT-COST>                          472,395
<INVESTMENTS-AT-VALUE>                         600,572
<RECEIVABLES>                                    3,185
<ASSETS-OTHER>                                      29
<OTHER-ITEMS-ASSETS>                             2,497
<TOTAL-ASSETS>                                 606,283
<PAYABLE-FOR-SECURITIES>                         3,485
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       21,694
<TOTAL-LIABILITIES>                             25,179
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       246,744
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        6,064
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        200,119
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       128,177
<NET-ASSETS>                                   581,104
<DIVIDEND-INCOME>                                1,563
<INTEREST-INCOME>                                  191
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (1,709)
<NET-INVESTMENT-INCOME>                             45
<REALIZED-GAINS-CURRENT>                        64,034
<APPREC-INCREASE-CURRENT>                       45,541
<NET-CHANGE-FROM-OPS>                          109,575
<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>                          13,678
<ACCUMULATED-NII-PRIOR>                          6,019
<ACCUMULATED-GAINS-PRIOR>                      136,085
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            1,536
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,709
<AVERAGE-NET-ASSETS>                           581,837
<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<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-31-1997
<PERIOD-END>                               FEB-28-1997
<INVESTMENTS-AT-COST>                        2,174,689
<INVESTMENTS-AT-VALUE>                       2,722,389
<RECEIVABLES>                                   14,473
<ASSETS-OTHER>                                      76
<OTHER-ITEMS-ASSETS>                                 1
<TOTAL-ASSETS>                               2,736,939
<PAYABLE-FOR-SECURITIES>                        47,593
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        7,953
<TOTAL-LIABILITIES>                             55,546
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     1,411,126
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                       60,864
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        661,703
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       547,700
<NET-ASSETS>                                 2,681,393
<DIVIDEND-INCOME>                               14,586
<INTEREST-INCOME>                                2,544
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 (5,704)
<NET-INVESTMENT-INCOME>                         11,426
<REALIZED-GAINS-CURRENT>                       151,459
<APPREC-INCREASE-CURRENT>                      319,744
<NET-CHANGE-FROM-OPS>                          482,629
<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>                         681,790
<ACCUMULATED-NII-PRIOR>                         49,438
<ACCUMULATED-GAINS-PRIOR>                      510,244
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            5,424
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  5,704
<AVERAGE-NET-ASSETS>                         2,338,521
<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>                                    .49<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-31-1997
<PERIOD-END>                               FEB-28-1997
<INVESTMENTS-AT-COST>                          412,741
<INVESTMENTS-AT-VALUE>                         506,572
<RECEIVABLES>                                    5,253
<ASSETS-OTHER>                                      10
<OTHER-ITEMS-ASSETS>                                 5
<TOTAL-ASSETS>                                 511,840
<PAYABLE-FOR-SECURITIES>                           592
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          328
<TOTAL-LIABILITIES>                                920
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       394,468
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        1,562
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         21,059
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        93,831
<NET-ASSETS>                                   510,920
<DIVIDEND-INCOME>                                1,444
<INTEREST-INCOME>                                  517
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   1,471
<NET-INVESTMENT-INCOME>                            490
<REALIZED-GAINS-CURRENT>                         2,792
<APPREC-INCREASE-CURRENT>                       32,610
<NET-CHANGE-FROM-OPS>                           35,892
<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>                         251,056
<ACCUMULATED-NII-PRIOR>                          1,072
<ACCUMULATED-GAINS-PRIOR>                       18,267
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            1,538
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  1,655
<AVERAGE-NET-ASSETS>                           372,107
<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>                                    .80<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-31-1997
<PERIOD-END>                               FEB-28-1997
<INVESTMENTS-AT-COST>                          160,522
<INVESTMENTS-AT-VALUE>                         205,620
<RECEIVABLES>                                      224
<ASSETS-OTHER>                                      16
<OTHER-ITEMS-ASSETS>                                 1
<TOTAL-ASSETS>                                 205,861
<PAYABLE-FOR-SECURITIES>                           827
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                        2,318
<TOTAL-LIABILITIES>                              3,145
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                       138,194
<SHARES-COMMON-STOCK>                                0
<SHARES-COMMON-PRIOR>                                0
<ACCUMULATED-NII-CURRENT>                        3,672
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                         15,752
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        45,098
<NET-ASSETS>                                   202,716
<DIVIDEND-INCOME>                                1,356
<INTEREST-INCOME>                                  252
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (573)
<NET-INVESTMENT-INCOME>                          1,035
<REALIZED-GAINS-CURRENT>                         3,304
<APPREC-INCREASE-CURRENT>                       21,855
<NET-CHANGE-FROM-OPS>                           26,194
<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>                          44,231
<ACCUMULATED-NII-PRIOR>                          2,637
<ACCUMULATED-GAINS-PRIOR>                       12,448
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                              497
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    573
<AVERAGE-NET-ASSETS>                           182,252
<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<F1>
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>Annualized.
</FN>
        

</TABLE>


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