<PAGE> PAGE 1
000 A000000 02/28/98
000 C000000 0000910055
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
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
007 C010100 1
007 C020100 NEUBERGER&BERMAN GUARDIAN PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 NEUBERGER&BERMAN MANHATTAN PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 NEUBERGER&BERMAN GENESIS PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 NEUBERGER&BERMAN FOCUS PORTFOLIO
007 C030400 N
007 C010500 5
007 C020500 NEUBERGER&BERMAN PARTNERS PORTFOLIO
007 C030500 N
007 C010600 6
007 C020600 NEUBERGER&BERMAN SOCIALLY RESPONSIVE PORT.
007 C030600 N
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
<PAGE> PAGE 2
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
007 C015100 51
007 C015200 52
007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
007 C016000 60
007 C016100 61
007 C016200 62
007 C016300 63
007 C016400 64
007 C016500 65
007 C016600 66
007 C016700 67
<PAGE> PAGE 3
007 C016800 68
007 C016900 69
007 C017000 70
007 C017100 71
007 C017200 72
007 C017300 73
007 C017400 74
007 C017500 75
007 C017600 76
007 C017700 77
007 C017800 78
007 C017900 79
007 C018000 80
007 C018100 81
007 C018200 82
007 C018300 83
007 C018400 84
007 C018500 85
007 C018600 86
007 C018700 87
007 C018800 88
007 C018900 89
007 C019000 90
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
014 A00AA01 NEUBERGER&BERMAN, LLC
014 B00AA01 8-1068
014 A00AA02 NEUBERGER&BERMAN MANAGEMENT INCORPORATED
014 B00AA02 8-16229
015 A00AA01 WESTPAC BANKING CORPORATION
015 B00AA01 S
015 C01AA01 SYDNEY
015 D01AA01 AUSTRALIA
015 D02AA01 2000
015 E04AA01 X
015 A00AA02 GIROCREDIT BANK AKTIENGESELLSCHAFT DER SPARKA
015 B00AA02 S
015 C01AA02 VIENNA
015 D01AA02 AUSTRIA
<PAGE> PAGE 4
015 D02AA02 1011
015 E04AA02 X
015 A00AA03 GENERALE BANK
015 B00AA03 S
015 C01AA03 BRUSSELS
015 D01AA03 BELGIUM
015 D02AA03 1000
015 E04AA03 X
015 A00AA04 CANADA TRUSTCO MORTGAGE COMPANY
015 B00AA04 S
015 C01AA04 TORONTO
015 D01AA04 CANADA
015 D02AA04 M5J 2T2
015 E04AA04 X
015 A00AA05 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA05 S
015 C01AA05 SHANGHAI
015 D01AA05 CHINA
015 E04AA05 X
015 A00AA06 DEN DANSKE BANK
015 B00AA06 S
015 C01AA06 COPENHAGEN
015 D01AA06 DENMARK
015 D02AA06 DK-1092
015 E04AA06 X
015 A00AA07 MERITA BANK LIMITED
015 B00AA07 S
015 C01AA07 HELSINKI
015 D01AA07 FINLAND
015 D02AA07 00500
015 E04AA07 X
015 A00AA08 BANQUE PARIBAS
015 B00AA08 S
015 C01AA08 PARIS
015 D01AA08 FRANCE
015 D02AA08 75078
015 E04AA08 X
015 A00AA09 DRESDNER BANK AG
015 B00AA09 S
015 C01AA09 FRANKFURT
015 D01AA09 GERMANY
015 D02AA09 D-6000
015 E04AA09 X
015 A00AA10 STANDARD CHARTERED BANK
015 B00AA10 S
015 C01AA10 HONG KONG
015 D01AA10 HONG KONG
015 E04AA10 X
015 A00AA11 DEUTSCHE BANK AG
015 B00AA11 S
015 C01AA11 MUMBAI
<PAGE> PAGE 5
015 D01AA11 INDIA
015 D02AA11 400-021
015 E04AA11 X
015 A00AA12 THE HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA12 S
015 C01AA12 MUMBAI
015 D01AA12 INDIA
015 D02AA12 400-001
015 E04AA12 X
015 A00AA13 BANK OF IRELAND
015 B00AA13 S
015 C01AA13 DUBLIN
015 D01AA13 IRELAND
015 E04AA13 X
015 A00AA14 BANK HAPOALIM B.M.
015 B00AA14 S
015 C01AA14 TEL AVIV
015 D01AA14 ISRAEL
015 E04AA14 X
015 A00AA15 BANQUE PARIBAS
015 B00AA15 S
015 C01AA15 MILAN
015 D01AA15 ITALY
015 D02AA15 20121
015 E04AA15 X
015 A00AA16 INTERSETTLE
015 B00AA16 S
015 C01AA16 LUXEMBOURG
015 D01AA16 LUXEMBOURG
015 E04AA16 X
015 A00AA17 THE DAIWA BANK, LIMITED
015 B00AA17 S
015 C01AA17 TOKYO
015 D01AA17 JAPAN
015 E04AA17 X
015 A00AA18 THE FUJI BANK, LIMITED
015 B00AA18 S
015 C01AA18 TOKYO
015 D01AA18 JAPAN
015 D02AA18 103
015 E04AA18 X
015 A00AA19 THE SUMITOMO TRUST & BANKING CO., LTD.
015 B00AA19 S
015 C01AA19 TOKYO
015 D01AA19 JAPAN
015 D02AA19 103
015 E04AA19 X
015 A00AA20 CEDEL
015 B00AA20 S
015 C01AA20 LUXEMBOURG
015 D01AA20 LUXEMBOURG
<PAGE> PAGE 6
015 E04AA20 X
015 A00AA21 EUROCLEAR
015 B00AA21 S
015 C01AA21 LUXEMBOURG
015 D01AA21 LUXEMBOURG
015 E04AA21 X
015 A00AA22 BANCO COMERCIAL PORTUGUES
015 B00AA22 S
015 C01AA22 LISBON
015 D01AA22 PORTUGAL
015 D02AA22 1000
015 E04AA22 X
015 A00AA23 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B00AA23 S
015 C01AA23 KUALA LUMPUR
015 D01AA23 MALAYSIA
015 D02AA23 50450
015 E04AA23 X
015 A00AA24 CITIBANK MEXICO, S.A.
015 B00AA24 S
015 C01AA24 MEXICO CITY
015 D01AA24 MEXICO
015 D02AA24 06695
015 E04AA24 X
015 A00AA25 MEESPIERSON N.V.
015 B00AA25 S
015 C01AA25 AMSTERDAM
015 D01AA25 NETHERLANDS
015 D02AA25 1012 KK
015 E04AA25 X
015 A00AA26 ANZ BANKING GROUP (NEW ZEALAND) LIMITED
015 B00AA26 S
015 C01AA26 WELLINGTON
015 D01AA26 NEW ZEALAND
015 E04AA26 X
015 A00AA27 CHRISTIANIA BANK OG KREDITKASSE
015 B00AA27 S
015 C01AA27 OSLO
015 D01AA27 NORWAY
015 E04AA27 X
015 A00AA28 CREDIT SUISSE FIRST BOSTON LIMITED
015 B00AA28 S
015 C01AA28 MOSCOW
015 D01AA28 RUSSIA
015 D02AA28 103009
015 E04AA28 X
015 A00AA29 THE DEVELOPMENT BANK OF SINGAPORE LTD.
015 B00AA29 S
015 C01AA29 SINGAPORE
015 D01AA29 SINGAPORE
015 D02AA29 0104
<PAGE> PAGE 7
015 E04AA29 X
015 A00AA30 BANCO SANTANDER, S.A.
015 B00AA30 S
015 C01AA30 MADRID
015 D01AA30 SPAIN
015 D02AA30 28022
015 E04AA30 X
015 A00AA31 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA31 S
015 C01AA31 STOCKHOLM
015 D01AA31 SWEDEN
015 D02AA31 10640
015 E04AA31 X
015 A00AA32 UNION BANK OF SWITZERLAND
015 B00AA32 S
015 C01AA32 ZURICH
015 D01AA32 SWITZERLAND
015 D02AA32 8021
015 E04AA32 X
015 A00AA33 STATE STREET LONDON LIMITED
015 B00AA33 S
015 C01AA33 LONDON
015 D01AA33 UNITED KINGDOM
015 D02AA33 EC4N7B
015 E04AA33 X
015 A00AA34 STATE STREET BANK & TRUST COMPANY
015 B00AA34 C
015 C01AA34 BOSTON
015 C02AA34 MA
015 C03AA34 02110
015 E01AA34 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 56
019 C00AA00 NEUBBERMAN
020 A000001 NEUBERGER&BERMAN, LLC
020 B000001 13-5521910
020 C000001 6380
020 A000002 GOLDMAN, SACHS & CO.
020 B000002 13-5108880
020 C000002 508
020 A000003 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
020 B000003 13-5674085
020 C000003 387
020 A000004 DEUTSCHE MORGAN GRENFELL INC.
020 B000004 13-2730828
020 C000004 363
020 A000005 JEFFERIES & COMPANY, INC.
020 B000005 95-2622900
020 C000005 343
020 A000006 BERNSTEIN (SANFORD C.) & CO., INC.
<PAGE> PAGE 8
020 B000006 13-2625874
020 C000006 326
020 A000007 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
020 B000007 13-2741729
020 C000007 311
020 A000008 SMITH BARNEY INC.
020 B000008 13-1912900
020 C000008 264
020 A000009 CREDIT SUISSE FIRST BOSTON CORPORATION
020 B000009 13-5659485
020 C000009 263
020 A000010 MORGAN (J.P.) SECURITIES INC.
020 B000010 13-3224016
020 C000010 182
021 000000 11467
022 A000001 GENERAL ELECTRIC CAPITAL CORP.
022 B000001 13-1500700
022 C000001 17522335
022 D000001 0
022 A000002 HSBC SECURITIES, INC.
022 B000002 13-2650272
022 C000002 2340512
022 D000002 877547
022 A000003 STATE STREET BANK AND TRUST COMPANY
022 B000003 04-1867445
022 C000003 3170645
022 D000003 0
022 A000004 GOLDMAN, SACHS & CO.
022 B000004 13-5108880
022 C000004 306437
022 D000004 250547
022 A000005 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
022 B000005 36-3145972
022 C000005 214696
022 D000005 110982
022 A000006 DONALDSON, LUFKIN & JENRETTE SECURITIES CORP.
022 B000006 13-2741729
022 C000006 63765
022 D000006 127965
022 A000007 SMITH BARNEY INC.
022 B000007 13-1912900
022 C000007 157043
022 D000007 9915
022 A000008 CREDIT SUISSE FIRST BOSTON CORPORATION
022 B000008 13-5659485
022 C000008 74807
022 D000008 70345
022 A000009 DEUTSCHE MORGAN GRENFELL INC.
022 B000009 13-2730828
022 C000009 108538
022 D000009 7517
<PAGE> PAGE 9
022 A000010 SALOMON BROTHERS INC.
022 B000010 13-3082694
022 C000010 72510
022 D000010 7952
023 C000000 24344343
023 D000000 1686610
026 A000000 N
026 B000000 Y
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 Y
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
<PAGE> PAGE 10
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 0
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
063 A00AA00 0
063 B00AA00 0.0
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 Y
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 Y
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
<PAGE> PAGE 11
080 C00AA00 10000
081 A00AA00 Y
081 B00AA00 51
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
013 A000101 ERNST & YOUNG LLP
013 B010101 BOSTON
013 B020101 MA
013 B030101 02116
024 000100 Y
025 A000101 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
025 B000101 13-5674085
025 C000101 E
025 D000101 236156
025 A000102 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO
025 B000102 36-3145972
025 C000102 E
025 D000102 271621
025 A000103 GENERAL ELECTRIC CAPITAL CORP.
025 B000103 13-1500700
025 C000103 D
025 D000103 38310
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 48743
028 A020100 0
028 A030100 0
028 A040100 18041
028 B010100 98021
028 B020100 0
<PAGE> PAGE 12
028 B030100 0
028 B040100 79101
028 C010100 55567
028 C020100 0
028 C030100 0
028 C040100 29227
028 D010100 23727
028 D020100 0
028 D030100 0
028 D040100 176269
028 E010100 45620
028 E020100 0
028 E030100 0
028 E040100 258925
028 F010100 13824
028 F020100 0
028 F030100 0
028 F040100 174604
028 G010100 285502
028 G020100 0
028 G030100 0
028 G040100 736167
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 250000
048 A020100 0.550
048 B010100 250000
048 B020100 0.525
048 C010100 250000
048 C020100 0.500
048 D010100 250000
048 D020100 0.475
048 E010100 500000
048 E020100 0.450
048 F010100 0
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 1500000
048 K020100 0.425
049 000100 N
050 000100 N
<PAGE> PAGE 13
051 000100 N
052 000100 N
053 A000100 N
055 A000100 N
055 B000100 N
056 000100 Y
057 000100 N
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 N
066 E000100 Y
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
070 A020100 Y
070 B010100 Y
070 B020100 Y
070 C010100 Y
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 Y
070 K010100 N
070 K020100 N
070 L010100 Y
070 L020100 N
070 M010100 Y
070 M020100 N
070 N010100 Y
070 N020100 Y
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
<PAGE> PAGE 14
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 1776344
071 B000100 1849371
071 C000100 8223326
071 D000100 22
072 A000100 6
072 B000100 16550
072 C000100 47251
072 D000100 0
072 E000100 0
072 F000100 18716
072 G000100 0
072 H000100 0
072 I000100 0
072 J000100 639
072 K000100 0
072 L000100 0
072 M000100 42
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 26
072 S000100 12
072 T000100 0
072 U000100 12
072 V000100 0
072 W000100 67
072 X000100 19514
072 Y000100 0
072 Z000100 44287
072AA000100 202853
072BB000100 0
072CC010100 219142
072CC020100 0
072DD010100 0
072DD020100 0
072EE000100 0
073 A010100 0.0000
073 A020100 0.0000
073 B000100 0.0000
073 C000100 0.0000
074 A000100 8
074 B000100 0
074 C000100 281034
074 D000100 237657
074 E000100 7402
074 F000100 8156528
074 G000100 0
<PAGE> PAGE 15
074 H000100 0
074 I000100 0
074 J000100 161519
074 K000100 0
074 L000100 7281
074 M000100 149
074 N000100 8851578
074 O000100 36888
074 P000100 2885
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 2638
074 R040100 35343
074 S000100 0
074 T000100 8773824
074 U010100 0
074 U020100 0
074 V010100 0.00
074 V020100 0.00
074 W000100 0.0000
074 X000100 5
074 Y000100 39806
075 A000100 8645100
075 B000100 0
076 000100 0.00
013 A000201 COOPERS & LYBRAND L.L.P.
013 B010201 BOSTON
013 B020201 MA
013 B030201 02109
024 000200 Y
025 A000201 GENERAL ELECTRIC CAPITAL CORP.
025 B000201 13-1500700
025 C000201 D
025 D000201 24880
025 A000202 STATE STREET BANK AND TRUST COMPANY
025 B000202 04-1867445
025 C000202 E
025 D000202 9105
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 1607
028 A020200 0
028 A030200 0
028 A040200 7038
028 B010200 9762
028 B020200 0
<PAGE> PAGE 16
028 B030200 0
028 B040200 12926
028 C010200 2801
028 C020200 0
028 C030200 0
028 C040200 2985
028 D010200 2787
028 D020200 0
028 D030200 0
028 D040200 14222
028 E010200 3588
028 E020200 0
028 E030200 0
028 E040200 6246
028 F010200 3710
028 F020200 0
028 F030200 0
028 F040200 4036
028 G010200 24255
028 G020200 0
028 G030200 0
028 G040200 47453
028 H000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 250000
048 A020200 0.550
048 B010200 250000
048 B020200 0.525
048 C010200 250000
048 C020200 0.500
048 D010200 250000
048 D020200 0.475
048 E010200 500000
048 E020200 0.450
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 1500000
048 K020200 0.425
049 000200 N
050 000200 N
<PAGE> PAGE 17
051 000200 N
052 000200 N
053 A000200 N
055 A000200 N
055 B000200 N
056 000200 Y
057 000200 N
066 A000200 Y
066 B000200 N
066 C000200 Y
066 D000200 N
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 N
070 K020200 N
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 Y
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
<PAGE> PAGE 18
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 267344
071 B000200 273722
071 C000200 599357
071 D000200 45
072 A000200 6
072 B000200 877
072 C000200 906
072 D000200 0
072 E000200 0
072 F000200 1655
072 G000200 0
072 H000200 0
072 I000200 0
072 J000200 85
072 K000200 0
072 L000200 0
072 M000200 6
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 25
072 S000200 13
072 T000200 0
072 U000200 5
072 V000200 0
072 W000200 15
072 X000200 1804
072 Y000200 0
072 Z000200 -21
072AA000200 21812
072BB000200 0
072CC010200 42595
072CC020200 0
072DD010200 0
072DD020200 0
072EE000200 0
073 A010200 0.0000
073 A020200 0.0000
073 B000200 0.0000
073 C000200 0.0000
074 A000200 14
074 B000200 0
074 C000200 42265
074 D000200 0
074 E000200 0
074 F000200 634350
074 G000200 0
<PAGE> PAGE 19
074 H000200 0
074 I000200 0
074 J000200 10559
074 K000200 0
074 L000200 187
074 M000200 14
074 N000200 687389
074 O000200 6987
074 P000200 260
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 17211
074 S000200 0
074 T000200 662931
074 U010200 0
074 U020200 0
074 V010200 0.00
074 V020200 0.00
074 W000200 0.0000
074 X000200 5
074 Y000200 0
075 A000200 630171
075 B000200 0
076 000200 0.00
013 A000301 ERNST & YOUNG LLP
013 B010301 BOSTON
013 B020301 MA
013 B030301 02116
024 000300 Y
025 A000301 GENERAL ELECTRIC CAPITAL CORP.
025 B000301 13-1500700
025 C000301 D
025 D000301 51040
025 D000302 0
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 303940
028 A020300 0
028 A030300 0
028 A040300 989
028 B010300 238166
028 B020300 0
028 B030300 0
028 B040300 27551
028 C010300 122723
<PAGE> PAGE 20
028 C020300 0
028 C030300 0
028 C040300 20413
028 D010300 118551
028 D020300 0
028 D030300 0
028 D040300 7600
028 E010300 273998
028 E020300 0
028 E030300 0
028 E040300 5316
028 F010300 181458
028 F020300 0
028 F030300 0
028 F040300 4419
028 G010300 1238836
028 G020300 0
028 G030300 0
028 G040300 66288
028 H000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 250000
048 A020300 0.850
048 B010300 250000
048 B020300 0.800
048 C010300 250000
048 C020300 0.750
048 D010300 250000
048 D020300 0.700
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 1000000
048 K020300 0.650
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 Y
<PAGE> PAGE 21
053 B000300 Y
053 C000300 N
055 A000300 N
055 B000300 N
056 000300 Y
057 000300 N
066 A000300 Y
066 B000300 N
066 C000300 Y
066 D000300 N
066 E000300 N
066 F000300 N
066 G000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 Y
070 B010300 Y
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 N
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 Y
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
<PAGE> PAGE 22
070 R010300 N
070 R020300 N
071 A000300 1056191
071 B000300 124204
071 C000300 1581928
071 D000300 8
072 A000300 6
072 B000300 4530
072 C000300 9369
072 D000300 0
072 E000300 0
072 F000300 5790
072 G000300 0
072 H000300 0
072 I000300 0
072 J000300 177
072 K000300 0
072 L000300 0
072 M000300 11
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 12
072 S000300 46
072 T000300 0
072 U000300 1
072 V000300 0
072 W000300 31
072 X000300 6068
072 Y000300 0
072 Z000300 7831
072AA000300 24505
072BB000300 0
072CC010300 41592
072CC020300 0
072DD010300 0
072DD020300 0
072EE000300 0
073 A010300 0.0000
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 4
074 B000300 0
074 C000300 337668
074 D000300 0
074 E000300 2948
074 F000300 2013990
074 G000300 0
074 H000300 0
<PAGE> PAGE 23
074 I000300 0
074 J000300 448
074 K000300 0
074 L000300 1413
074 M000300 14
074 N000300 2356485
074 O000300 21758
074 P000300 1193
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 3407
074 S000300 0
074 T000300 2330127
074 U010300 0
074 U020300 0
074 V010300 0.00
074 V020300 0.00
074 W000300 0.0000
074 X000300 5
074 Y000300 0
075 A000300 1744651
075 B000300 0
076 000300 0.00
013 A000401 ERNST & YOUNG LLP
013 B010401 BOSTON
013 B020401 MA
013 B030401 02116
024 000400 Y
025 A000401 GENERAL ELECTRIC CAPITAL CORP.
025 B000401 13-1500700
025 C000401 D
025 D000401 68140
025 A000402 MERRILL LYNCH, PIERCE, FENNER & SMITH INC.
025 B000402 13-5674085
025 C000402 E
025 D000402 48126
025 A000403 MORGAN STANLEY, DEAN WITTER, DISCOVER & CO.
025 B000403 36-3145972
025 C000403 E
025 D000403 48781
025 D000404 0
025 D000405 0
025 D000406 0
025 D000407 0
025 D000408 0
028 A010400 21617
028 A020400 0
028 A030400 0
028 A040400 7794
<PAGE> PAGE 24
028 B010400 12758
028 B020400 0
028 B030400 0
028 B040400 15790
028 C010400 6009
028 C020400 0
028 C030400 0
028 C040400 6693
028 D010400 12858
028 D020400 0
028 D030400 0
028 D040400 39609
028 E010400 29904
028 E020400 0
028 E030400 0
028 E040400 11087
028 F010400 53604
028 F020400 0
028 F030400 0
028 F040400 8237
028 G010400 136750
028 G020400 0
028 G030400 0
028 G040400 89210
028 H000400 0
045 000400 Y
046 000400 N
047 000400 Y
048 000400 0.000
048 A010400 250000
048 A020400 0.550
048 B010400 250000
048 B020400 0.525
048 C010400 250000
048 C020400 0.500
048 D010400 250000
048 D020400 0.475
048 E010400 500000
048 E020400 0.450
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 1500000
048 K020400 0.425
<PAGE> PAGE 25
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 N
055 A000400 N
055 B000400 N
056 000400 Y
057 000400 N
066 A000400 Y
066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 Y
070 C010400 Y
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 N
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 N
070 K020400 N
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 Y
070 O010400 Y
070 O020400 N
070 P010400 N
<PAGE> PAGE 26
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 447276
071 B000400 489079
071 C000400 1564055
071 D000400 29
072 A000400 6
072 B000400 747
072 C000400 7811
072 D000400 0
072 E000400 0
072 F000400 3875
072 G000400 0
072 H000400 0
072 I000400 0
072 J000400 145
072 K000400 0
072 L000400 0
072 M000400 10
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 22
072 S000400 11
072 T000400 0
072 U000400 4
072 V000400 0
072 W000400 16
072 X000400 4083
072 Y000400 0
072 Z000400 4475
072AA000400 34940
072BB000400 0
072CC010400 103490
072CC020400 0
072DD010400 0
072DD020400 0
072EE000400 0
073 A010400 0.0000
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 10
074 B000400 0
074 C000400 115896
074 D000400 0
074 E000400 0
<PAGE> PAGE 27
074 F000400 1639698
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 29134
074 K000400 0
074 L000400 969
074 M000400 28
074 N000400 1785735
074 O000400 21098
074 P000400 623
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 50
074 R040400 78
074 S000400 0
074 T000400 1763886
074 U010400 0
074 U020400 0
074 V010400 0.00
074 V020400 0.00
074 W000400 0.0000
074 X000400 5
074 Y000400 3681
075 A000400 1603294
075 B000400 0
076 000400 0.00
013 A000501 ERNST & YOUNG LLP
013 B010501 BOSTON
013 B020501 MA
013 B030501 02116
024 000500 Y
025 A000501 GENERAL ELECTRIC CAPITAL CORP.
025 B000501 13-1500700
025 C000501 D
025 D000501 57420
025 D000502 0
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 58658
028 A020500 0
028 A030500 0
028 A040500 7965
028 B010500 70367
028 B020500 0
028 B030500 0
<PAGE> PAGE 28
028 B040500 12174
028 C010500 62871
028 C020500 0
028 C030500 0
028 C040500 2332
028 D010500 52278
028 D020500 0
028 D030500 0
028 D040500 76928
028 E010500 134567
028 E020500 0
028 E030500 0
028 E040500 4131
028 F010500 98783
028 F020500 0
028 F030500 0
028 F040500 573
028 G010500 477524
028 G020500 0
028 G030500 0
028 G040500 104103
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.000
048 A010500 250000
048 A020500 0.550
048 B010500 250000
048 B020500 0.525
048 C010500 250000
048 C020500 0.500
048 D010500 250000
048 D020500 0.475
048 E010500 500000
048 E020500 0.450
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 1500000
048 K020500 0.425
049 000500 N
050 000500 N
051 000500 N
<PAGE> PAGE 29
052 000500 N
053 A000500 N
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 Y
066 E000500 N
066 F000500 N
066 G000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 N
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 Y
070 K010500 N
070 K020500 N
070 L010500 Y
070 L020500 Y
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 Y
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
<PAGE> PAGE 30
070 R010500 N
070 R020500 N
071 A000500 2192593
071 B000500 1791409
071 C000500 3670457
071 D000500 49
072 A000500 6
072 B000500 4422
072 C000500 23952
072 D000500 0
072 E000500 0
072 F000500 8593
072 G000500 0
072 H000500 0
072 I000500 0
072 J000500 304
072 K000500 0
072 L000500 0
072 M000500 20
072 N000500 0
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 23
072 S000500 12
072 T000500 0
072 U000500 9
072 V000500 0
072 W000500 29
072 X000500 8990
072 Y000500 0
072 Z000500 19384
072AA000500 319848
072BB000500 0
072CC010500 40439
072CC020500 0
072DD010500 0
072DD020500 0
072EE000500 0
073 A010500 0.0000
073 A020500 0.0000
073 B000500 0.0000
073 C000500 0.0000
074 A000500 9
074 B000500 0
074 C000500 176869
074 D000500 0
074 E000500 31
074 F000500 4151778
074 G000500 0
074 H000500 0
<PAGE> PAGE 31
074 I000500 0
074 J000500 80070
074 K000500 0
074 L000500 4944
074 M000500 61
074 N000500 4413762
074 O000500 82745
074 P000500 1430
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 922
074 S000500 0
074 T000500 4328665
074 U010500 0
074 U020500 0
074 V010500 0.00
074 V020500 0.00
074 W000500 0.0000
074 X000500 5
074 Y000500 0
075 A000500 3842169
075 B000500 0
076 000500 0.00
013 A000601 COOPERS & LYBRAND L.L.P.
013 B010601 BOSTON
013 B020601 MA
013 B030601 02109
024 000600 N
025 D000601 0
025 D000602 0
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 3799
028 A020600 0
028 A030600 0
028 A040600 931
028 B010600 6497
028 B020600 0
028 B030600 0
028 B040600 1807
028 C010600 6540
028 C020600 0
028 C030600 0
028 C040600 549
028 D010600 4993
<PAGE> PAGE 32
028 D020600 0
028 D030600 0
028 D040600 1291
028 E010600 4131
028 E020600 0
028 E030600 0
028 E040600 2318
028 F010600 6127
028 F020600 0
028 F030600 0
028 F040600 2351
028 G010600 32087
028 G020600 0
028 G030600 0
028 G040600 9247
028 H000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.000
048 A010600 250000
048 A020600 0.550
048 B010600 250000
048 B020600 0.525
048 C010600 250000
048 C020600 0.500
048 D010600 250000
048 D020600 0.475
048 E010600 500000
048 E020600 0.450
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 1500000
048 K020600 0.425
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 N
055 A000600 N
055 B000600 N
056 000600 Y
057 000600 N
<PAGE> PAGE 33
066 A000600 Y
066 B000600 N
066 C000600 Y
066 D000600 N
066 E000600 N
066 F000600 N
066 G000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
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 N
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 N
070 R020600 N
071 A000600 89435
071 B000600 71046
071 C000600 268462
071 D000600 26
<PAGE> PAGE 34
072 A000600 6
072 B000600 332
072 C000600 1800
072 D000600 0
072 E000600 0
072 F000600 763
072 G000600 0
072 H000600 0
072 I000600 0
072 J000600 51
072 K000600 0
072 L000600 0
072 M000600 4
072 N000600 0
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 12
072 S000600 12
072 T000600 0
072 U000600 3
072 V000600 0
072 W000600 7
072 X000600 852
072 Y000600 0
072 Z000600 1280
072AA000600 14653
072BB000600 0
072CC010600 21509
072CC020600 0
072DD010600 0
072DD020600 0
072EE000600 0
073 A010600 0.0000
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 2
074 B000600 0
074 C000600 14928
074 D000600 0
074 E000600 0
074 F000600 298249
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 3165
074 K000600 0
074 L000600 379
074 M000600 11
074 N000600 316734
<PAGE> PAGE 35
074 O000600 0
074 P000600 136
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 35
074 S000600 0
074 T000600 316563
074 U010600 0
074 U020600 0
074 V010600 0.00
074 V020600 0.00
074 W000600 0.0000
074 X000600 5
074 Y000600 0
075 A000600 281212
075 B000600 0
076 000600 0.00
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-31-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1,067,923
<INVESTMENTS-AT-VALUE> 1,755,594
<RECEIVABLES> 30,103
<ASSETS-OTHER> 28
<OTHER-ITEMS-ASSETS> 10
<TOTAL-ASSETS> 1,785,735
<PAYABLE-FOR-SECURITIES> 21,098
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 751
<TOTAL-LIABILITIES> 21,849
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 686,625
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 38,123
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 351,421
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 687,717
<NET-ASSETS> 1,763,886
<DIVIDEND-INCOME> 7,811
<INTEREST-INCOME> 747
<OTHER-INCOME> 0
<EXPENSES-NET> (4,083)
<NET-INVESTMENT-INCOME> 4,475
<REALIZED-GAINS-CURRENT> 34,940
<APPREC-INCREASE-CURRENT> 103,490
<NET-CHANGE-FROM-OPS> 142,905
<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> 190,445
<ACCUMULATED-NII-PRIOR> 33,648
<ACCUMULATED-GAINS-PRIOR> 316,481
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3,875
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,083
<AVERAGE-NET-ASSETS> 1,603,294
<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 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-31-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 5,868,125
<INVESTMENTS-AT-VALUE> 8,682,621
<RECEIVABLES> 168,800
<ASSETS-OTHER> 149
<OTHER-ITEMS-ASSETS> 8
<TOTAL-ASSETS> 8,851,578
<PAYABLE-FOR-SECURITIES> 36,888
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 40,866
<TOTAL-LIABILITIES> 77,754
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4,129,484
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 300,804
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,529,036
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2,814,500
<NET-ASSETS> 8,773,824
<DIVIDEND-INCOME> 47,251
<INTEREST-INCOME> 16,550
<OTHER-INCOME> 0
<EXPENSES-NET> (19,514)
<NET-INVESTMENT-INCOME> 44,287
<REALIZED-GAINS-CURRENT> 202,853
<APPREC-INCREASE-CURRENT> 219,142
<NET-CHANGE-FROM-OPS> 466,282
<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> 15,617
<ACCUMULATED-NII-PRIOR> 256,517
<ACCUMULATED-GAINS-PRIOR> 1,326,183
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 18,716
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 19,514
<AVERAGE-NET-ASSETS> 8,645,100
<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-31-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 540,738
<INVESTMENTS-AT-VALUE> 676,615
<RECEIVABLES> 10,746
<ASSETS-OTHER> 14
<OTHER-ITEMS-ASSETS> 14
<TOTAL-ASSETS> 687,389
<PAYABLE-FOR-SECURITIES> 6,987
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 17,471
<TOTAL-LIABILITIES> 24,458
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 181,480
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 7,152
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 338,422
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 135,877
<NET-ASSETS> 662,931
<DIVIDEND-INCOME> 906
<INTEREST-INCOME> 877
<OTHER-INCOME> 0
<EXPENSES-NET> (1,804)
<NET-INVESTMENT-INCOME> (21)
<REALIZED-GAINS-CURRENT> 21,812
<APPREC-INCREASE-CURRENT> 42,595
<NET-CHANGE-FROM-OPS> 64,386
<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> 41,188
<ACCUMULATED-NII-PRIOR> 7,173
<ACCUMULATED-GAINS-PRIOR> 316,610
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,655
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,804
<AVERAGE-NET-ASSETS> 630,171
<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> .58<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-31-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 3,586,686
<INVESTMENTS-AT-VALUE> 4,328,678
<RECEIVABLES> 85,014
<ASSETS-OTHER> 61
<OTHER-ITEMS-ASSETS> 9
<TOTAL-ASSETS> 4,413,762
<PAYABLE-FOR-SECURITIES> 82,745
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,352
<TOTAL-LIABILITIES> 85,097
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2,127,775
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 97,138
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1,361,760
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 741,992
<NET-ASSETS> 4,328,665
<DIVIDEND-INCOME> 23,952
<INTEREST-INCOME> 4,422
<OTHER-INCOME> 0
<EXPENSES-NET> (8,990)
<NET-INVESTMENT-INCOME> 19,384
<REALIZED-GAINS-CURRENT> 319,848
<APPREC-INCREASE-CURRENT> 40,439
<NET-CHANGE-FROM-OPS> 379,671
<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> 753,092
<ACCUMULATED-NII-PRIOR> 77,754
<ACCUMULATED-GAINS-PRIOR> 1,041,912
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 8,593
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 8,990
<AVERAGE-NET-ASSETS> 3,842,169
<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> .47<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-31-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 2,040,734
<INVESTMENTS-AT-VALUE> 2,354,606
<RECEIVABLES> 1,861
<ASSETS-OTHER> 14
<OTHER-ITEMS-ASSETS> 4
<TOTAL-ASSETS> 2,356,485
<PAYABLE-FOR-SECURITIES> 21,758
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,600
<TOTAL-LIABILITIES> 26,358
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1,944,441
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 10,631
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 61,183
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 313,872
<NET-ASSETS> 2,330,127
<DIVIDEND-INCOME> 9,369
<INTEREST-INCOME> 4,530
<OTHER-INCOME> 0
<EXPENSES-NET> (6,068)
<NET-INVESTMENT-INCOME> 7,831
<REALIZED-GAINS-CURRENT> 24,505
<APPREC-INCREASE-CURRENT> 41,592
<NET-CHANGE-FROM-OPS> 73,928
<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> 1,246,476
<ACCUMULATED-NII-PRIOR> 2,800
<ACCUMULATED-GAINS-PRIOR> 36,678
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 5,790
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 6,068
<AVERAGE-NET-ASSETS> 1,744,651
<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> .70<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-31-1998
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 224,382
<INVESTMENTS-AT-VALUE> 313,177
<RECEIVABLES> 3,544
<ASSETS-OTHER> 11
<OTHER-ITEMS-ASSETS> 2
<TOTAL-ASSETS> 316,734
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 171
<TOTAL-LIABILITIES> 171
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 183,058
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 6,131
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 38,579
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 88,795
<NET-ASSETS> 316,563
<DIVIDEND-INCOME> 1,800
<INTEREST-INCOME> 332
<OTHER-INCOME> 0
<EXPENSES-NET> (852)
<NET-INVESTMENT-INCOME> 1,280
<REALIZED-GAINS-CURRENT> 14,653
<APPREC-INCREASE-CURRENT> 21,509
<NET-CHANGE-FROM-OPS> 37,442
<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> 60,282
<ACCUMULATED-NII-PRIOR> 4,851
<ACCUMULATED-GAINS-PRIOR> 23,926
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 763
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 852
<AVERAGE-NET-ASSETS> 281,212
<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> .61<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Annualized.
</FN>
</TABLE>
