NEUBERGER & BERMAN EQUITY ASSETS
NSAR-B, 1998-10-27
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<PAGE>      PAGE  1
000 B000000 08/31/98
000 C000000 0000914228
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 NEUBERGER&BERMAN EQUITY ASSETS
001 B000000 811-8106
001 C000000 2124768800
002 A000000 605 THIRD AVENUE
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 SOCIALLY RESPONSIVE TRUST
007 C030100 N
007 C010200  2
007 C020200 NEUBERGER&BERMAN FOCUS ASSETS
007 C030200 N
007 C010300  3
007 C020300 NEUBERGER&BERMAN GUARDIAN ASSETS
007 C030300 N
007 C010400  4
007 C020400 NEUBERGER&BERMAN MANHATTAN ASSETS
007 C030400 N
007 C010500  5
007 C020500 NEUBERGER&BERMAN PARTNERS ASSETS
007 C030500 N
007 C010600  6
007 C020600 NEUBERGER&BERMAN GENESIS ASSETS
007 C030600 N
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 NEUBERGER&BERMAN MANAGEMENT INCORPORATED
010 B00AA01 801-8259
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10158
010 C04AA01 0180
<PAGE>      PAGE  2
011 A00AA01 NEUBERGER&BERMAN MANAGEMENT INCORPORATED
011 B00AA01 8-16229
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10158
011 C04AA01 0180
012 A00AA01 STATE STREET BANK & TRUST CO.
012 B00AA01 85-05003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02110
014 A00AA01 NEUBERGER&BERMAN, LLC
014 B00AA01 8-1068
014 A00AA02 NEUBERGER&BERMAN MANAGEMENT INCORPORATED
014 B00AA02 8-16229
015 A00AA01 STATE STREET BANK & TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
018  00AA00 N
019 A00AA00 Y
019 B00AA00   58
019 C00AA00 NEUBBERMAN
020 C000001      0
020 C000002      0
020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
020 C000008      0
020 C000009      0
020 C000010      0
021  000000        0
022 C000001         0
022 D000001         0
022 C000002         0
022 D000002         0
022 C000003         0
022 D000003         0
022 C000004         0
022 D000004         0
022 C000005         0
022 D000005         0
022 C000006         0
022 D000006         0
022 C000007         0
022 D000007         0
022 C000008         0
<PAGE>      PAGE  3
022 D000008         0
022 C000009         0
022 D000009         0
022 C000010         0
022 D000010         0
023 C000000          0
023 D000000          0
024  00AA00 N
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 N
026 E000000 N
026 F000000 N
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
045  00AA00 N
048  00AA00  0.000
048 A01AA00        0
048 A02AA00 0.000
048 B01AA00        0
048 B02AA00 0.000
048 C01AA00        0
048 C02AA00 0.000
048 D01AA00        0
048 D02AA00 0.000
048 E01AA00        0
048 E02AA00 0.000
048 F01AA00        0
048 F02AA00 0.000
048 G01AA00        0
048 G02AA00 0.000
048 H01AA00        0
048 H02AA00 0.000
048 I01AA00        0
048 I02AA00 0.000
048 J01AA00        0
048 J02AA00 0.000
<PAGE>      PAGE  4
048 K01AA00        0
048 K02AA00 0.000
055 A00AA00 N
055 B00AA00 N
056  00AA00 N
057  00AA00 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
066 A00AA00 N
067  00AA00 N
068 A00AA00 N
068 B00AA00 N
069  00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
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 N
<PAGE>      PAGE  5
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078  000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00    10000
081 A00AA00 Y
081 B00AA00  54
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 PRICEWATERHOUSECOOPERS L.L.P.
013 B010101 BOSTON
013 B020101 MA
013 B030101 02109
028 A010100      1173
028 A020100         0
028 A030100         0
028 A040100       272
028 B010100      1170
028 B020100         0
028 B030100         0
028 B040100       406
028 C010100       937
028 C020100         0
028 C030100         0
028 C040100       128
028 D010100       926
028 D020100         0
028 D030100         0
028 D040100       133
028 E010100      1253
028 E020100         0
<PAGE>      PAGE  6
028 E030100         0
028 E040100       292
028 F010100      1058
028 F020100         0
028 F030100         0
028 F040100       379
028 G010100      6517
028 G020100         0
028 G030100         0
028 G040100      1610
028 H000100         0
037  000100 N
038  000100      0
039  000100 N
040  000100 N
041  000100 N
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042 C000100   0
042 D000100   0
042 E000100   0
042 F000100   0
042 G000100   0
042 H000100   0
043  000100      0
044  000100      0
070 A010100 Y
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070 B020100 N
070 C010100 Y
070 C020100 N
070 D010100 Y
070 D020100 N
070 E010100 Y
070 E020100 N
070 F010100 Y
070 F020100 N
070 G010100 Y
070 G020100 N
070 H010100 Y
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 Y
070 L010100 Y
070 L020100 N
070 M010100 Y
<PAGE>      PAGE  7
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100         0
071 B000100         0
071 C000100         0
071 D000100    0
072 A000100 12
072 B000100       29
072 C000100      152
072 D000100        0
072 E000100        0
072 F000100        0
072 G000100       47
072 H000100        0
072 I000100       17
072 J000100       10
072 K000100        0
072 L000100       15
072 M000100        1
072 N000100       34
072 O000100        1
072 P000100        0
072 Q000100        0
072 R000100        6
072 S000100       19
072 T000100        0
072 U000100       22
072 V000100        0
072 W000100       71
072 X000100      243
072 Y000100      101
072 Z000100       39
072AA000100      113
072BB000100        0
072CC010100        0
072CC020100     1847
072DD010100        8
072DD020100        0
072EE000100       82
073 A010100   0.0100
073 A020100   0.0000
073 B000100   0.1000
<PAGE>      PAGE  8
073 C000100   0.0000
074 A000100        0
074 B000100        0
074 C000100        0
074 D000100        0
074 E000100        0
074 F000100        0
074 G000100        0
074 H000100        0
074 I000100    13337
074 J000100        0
074 K000100        6
074 L000100       19
074 M000100       80
074 N000100    13442
074 O000100        0
074 P000100        5
074 Q000100        0
074 R010100        0
074 R020100        0
074 R030100        0
074 R040100       21
074 S000100        0
074 T000100    13416
074 U010100     1261
074 U020100        0
074 V010100    10.64
074 V020100     0.00
074 W000100   0.0000
074 X000100       34
074 Y000100        0
075 A000100    11781
075 B000100        0
076  000100     0.00
013 A000201 ERNST & YOUNG LLP
013 B010201 BOSTON
013 B020201 MA
013 B030201 02116
028 A010200        26
028 A020200         0
028 A030200         0
028 A040200         0
028 B010200        74
028 B020200         0
028 B030200         0
028 B040200         5
028 C010200        68
028 C020200         0
028 C030200         0
028 C040200         0
028 D010200       100
<PAGE>      PAGE  9
028 D020200         0
028 D030200         0
028 D040200         7
028 E010200       118
028 E020200         0
028 E030200         0
028 E040200        36
028 F010200        57
028 F020200         0
028 F030200         0
028 F040200        23
028 G010200       443
028 G020200         0
028 G030200         0
028 G040200        71
028 H000200         0
037  000200 N
038  000200      0
039  000200 N
040  000200 Y
041  000200 Y
042 A000200   0
042 B000200   0
042 C000200   0
042 D000200 100
042 E000200   0
042 F000200   0
042 G000200   0
042 H000200   0
043  000200      0
044  000200      0
070 A010200 Y
070 A020200 N
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
<PAGE>      PAGE  10
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200         0
071 B000200         0
071 C000200         0
071 D000200    0
072 A000200 12
072 B000200        1
072 C000200        3
072 D000200        0
072 E000200        0
072 F000200        0
072 G000200        1
072 H000200        0
072 I000200       16
072 J000200       10
072 K000200        0
072 L000200       11
072 M000200        0
072 N000200       25
072 O000200        1
072 P000200        0
072 Q000200        0
072 R000200        5
072 S000200        3
072 T000200        1
072 U000200       12
072 V000200        0
072 W000200        2
072 X000200       87
072 Y000200       82
072 Z000200       -1
072AA000200        0
072BB000200       13
072CC010200        0
072CC020200      132
072DD010200        0
<PAGE>      PAGE  11
072DD020200        0
072EE000200        6
073 A010200   0.0000
073 A020200   0.0000
073 B000200   0.5800
073 C000200   0.0000
074 A000200        0
074 B000200        0
074 C000200        0
074 D000200        0
074 E000200        0
074 F000200        0
074 G000200        0
074 H000200        0
074 I000200      486
074 J000200        0
074 K000200      173
074 L000200        0
074 M000200       35
074 N000200      694
074 O000200        0
074 P000200      128
074 Q000200        0
074 R010200        0
074 R020200        0
074 R030200        0
074 R040200       90
074 S000200        0
074 T000200      476
074 U010200       42
074 U020200        0
074 V010200    11.31
074 V020200     0.00
074 W000200   0.0000
074 X000200        9
074 Y000200        0
075 A000200      311
075 B000200        0
076  000200     0.00
013 A000301 ERNST & YOUNG LLP
013 B010301 BOSTON
013 B020301 MA
013 B030301 02116
028 A010300      1493
028 A020300         0
028 A030300         0
028 A040300       105
028 B010300      1396
028 B020300         0
028 B030300         0
028 B040300         0
<PAGE>      PAGE  12
028 C010300      1344
028 C020300         0
028 C030300         0
028 C040300        48
028 D010300       841
028 D020300         0
028 D030300         0
028 D040300        36
028 E010300       956
028 E020300         0
028 E030300         0
028 E040300        43
028 F010300       723
028 F020300         0
028 F030300         0
028 F040300       318
028 G010300      6753
028 G020300         0
028 G030300         0
028 G040300       550
028 H000300         0
037  000300 N
038  000300      0
039  000300 N
040  000300 Y
041  000300 Y
042 A000300   0
042 B000300   0
042 C000300   0
042 D000300 100
042 E000300   0
042 F000300   0
042 G000300   0
042 H000300   0
043  000300      0
044  000300      0
070 A010300 Y
070 A020300 N
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
<PAGE>      PAGE  13
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 N
070 M010300 Y
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300         0
071 B000300         0
071 C000300         0
071 D000300    0
072 A000300 12
072 B000300       59
072 C000300      169
072 D000300        0
072 E000300        0
072 F000300        0
072 G000300       68
072 H000300        0
072 I000300       17
072 J000300       10
072 K000300        0
072 L000300        8
072 M000300        0
072 N000300       33
072 O000300        1
072 P000300        0
072 Q000300        0
072 R000300        5
072 S000300        3
072 T000300       42
072 U000300       12
072 V000300        0
072 W000300       77
072 X000300      276
072 Y000300       22
072 Z000300      -26
<PAGE>      PAGE  14
072AA000300        0
072BB000300      322
072CC010300        0
072CC020300     4845
072DD010300        0
072DD020300        0
072EE000300      133
073 A010300   0.0000
073 A020300   0.0000
073 B000300   0.1300
073 C000300   0.0000
074 A000300        0
074 B000300        0
074 C000300        0
074 D000300        0
074 E000300        0
074 F000300        0
074 G000300        0
074 H000300        0
074 I000300    17548
074 J000300        0
074 K000300        0
074 L000300        3
074 M000300       35
074 N000300    17586
074 O000300        0
074 P000300       17
074 Q000300        0
074 R010300        0
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074 R030300        0
074 R040300       20
074 S000300        0
074 T000300    17549
074 U010300     1623
074 U020300        0
074 V010300    10.81
074 V020300     0.00
074 W000300   0.0000
074 X000300       10
074 Y000300        0
075 A000300    16919
075 B000300        0
076  000300     0.00
013 A000401 PRICEWATERHOUSECOOPERS L.L.P.
013 B010401 BOSTON
013 B020401 MA
013 B030401 02109
028 A010400         0
028 A020400         0
028 A030400         0
<PAGE>      PAGE  15
028 A040400         0
028 B010400         0
028 B020400         0
028 B030400         0
028 B040400         0
028 C010400         0
028 C020400         0
028 C030400         0
028 C040400         0
028 D010400         0
028 D020400         0
028 D030400         0
028 D040400         0
028 E010400        88
028 E020400         0
028 E030400         0
028 E040400        10
028 F010400         5
028 F020400         0
028 F030400         0
028 F040400        18
028 G010400        93
028 G020400         0
028 G030400         0
028 G040400        28
028 H000400         0
037  000400 N
038  000400      0
039  000400 N
040  000400 Y
041  000400 Y
042 A000400   0
042 B000400   0
042 C000400   0
042 D000400 100
042 E000400   0
042 F000400   0
042 G000400   0
042 H000400   0
043  000400      0
044  000400      0
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
<PAGE>      PAGE  16
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 Y
070 K020400 Y
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400         0
071 B000400         0
071 C000400         0
071 D000400    0
072 A000400 12
072 B000400        1
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072 I000400       16
072 J000400       10
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072 S000400        4
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<PAGE>      PAGE  17
072 V000400        0
072 W000400        2
072 X000400       89
072 Y000400       86
072 Z000400       -2
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072BB000400        0
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072DD010400        0
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072EE000400       23
073 A010400   0.0000
073 A020400   0.0000
073 B000400   1.6600
073 C000400   0.0000
074 A000400        0
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074 C000400        0
074 D000400        0
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074 N000400      435
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074 U020400        0
074 V010400    10.76
074 V020400     0.00
074 W000400   0.0000
074 X000400        7
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075 A000400      210
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013 A000501 ERNST & YOUNG LLP
013 B010501 BOSTON
<PAGE>      PAGE  18
013 B020501 MA
013 B030501 02116
028 A010500      4151
028 A020500         0
028 A030500         0
028 A040500       832
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028 B020500         0
028 B030500         0
028 B040500       484
028 C010500      2803
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028 C040500        92
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028 D030500         0
028 D040500        96
028 E010500      3802
028 E020500         0
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028 E040500       230
028 F010500      1829
028 F020500         0
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028 F040500       608
028 G010500     17721
028 G020500         0
028 G030500         0
028 G040500      2342
028 H000500         0
037  000500 N
038  000500      0
039  000500 N
040  000500 Y
041  000500 Y
042 A000500   0
042 B000500   0
042 C000500   0
042 D000500 100
042 E000500   0
042 F000500   0
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043  000500      0
044  000500      0
070 A010500 Y
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070 C010500 Y
<PAGE>      PAGE  19
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 N
070 K010500 Y
070 K020500 Y
070 L010500 Y
070 L020500 N
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500         0
071 B000500         0
071 C000500         0
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072 A000500 12
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072 L000500       12
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072 O000500        1
072 P000500        0
<PAGE>      PAGE  20
072 Q000500        0
072 R000500        5
072 S000500        3
072 T000500       50
072 U000500       12
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072 X000500      313
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072 Z000500       24
072AA000500        0
072BB000500      705
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072CC020500     4836
072DD010500        8
072DD020500        0
072EE000500      250
073 A010500   0.0100
073 A020500   0.0000
073 B000500   0.3200
073 C000500   0.0000
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074 B000500        0
074 C000500        0
074 D000500        0
074 E000500        0
074 F000500        0
074 G000500        0
074 H000500        0
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074 V020500     0.00
074 W000500   0.0000
074 X000500       13
074 Y000500        0
<PAGE>      PAGE  21
075 A000500    20086
075 B000500        0
076  000500     0.00
013 A000601 ERNST & YOUNG LLP
013 B010601 BOSTON
013 B020601 MA
013 B030601 02116
028 A010600      1318
028 A020600         0
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028 E040600       548
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028 F030600         0
028 F040600       374
028 G010600     29371
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028 G030600         0
028 G040600      2889
028 H000600         0
037  000600 N
038  000600      0
039  000600 N
040  000600 Y
041  000600 Y
042 A000600   0
042 B000600   0
042 C000600   0
042 D000600 100
042 E000600   0
042 F000600   0
042 G000600   0
042 H000600   0
043  000600      0
044  000600      0
<PAGE>      PAGE  22
070 A010600 Y
070 A020600 N
070 B010600 Y
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 Y
070 L020600 N
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 N
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         0
071 B000600         0
071 C000600         0
071 D000600    0
072 A000600 12
072 B000600       32
072 C000600      138
072 D000600        0
072 E000600        0
072 F000600        0
072 G000600       32
072 H000600        0
072 I000600       12
072 J000600       10
072 K000600        0
<PAGE>      PAGE  23
072 L000600       15
072 M000600        0
072 N000600       24
072 O000600        1
072 P000600        0
072 Q000600        0
072 R000600        5
072 S000600        4
072 T000600       20
072 U000600       12
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072 X000600      194
072 Y000600       73
072 Z000600       49
072AA000600        0
072BB000600      133
072CC010600        0
072CC020600     6253
072DD010600        0
072DD020600        0
072EE000600        3
073 A010600   0.0000
073 A020600   0.0000
073 B000600   0.0400
073 C000600   0.0000
074 A000600        0
074 B000600        0
074 C000600        0
074 D000600        0
074 E000600        0
074 F000600        0
074 G000600        0
074 H000600        0
074 I000600    24368
074 J000600        0
074 K000600        3
074 L000600      107
074 M000600       44
074 N000600    24522
074 O000600        0
074 P000600        8
074 Q000600        0
074 R010600        0
074 R020600        0
074 R030600        0
074 R040600       48
074 S000600        0
074 T000600    24466
074 U010600     2293
074 U020600        0
<PAGE>      PAGE  24
074 V010600    10.67
074 V020600     0.00
074 W000600   0.0000
074 X000600       83
074 Y000600        0
075 A000600     8111
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 Assets Annual Report and is qualified in
its entirety by reference to such document.
</LEGEND>
<CIK> 0000914228
<NAME> NEUBERGER&BERMAN EQUITY ASSETS
<SERIES>
   <NUMBER> 02
   <NAME> NEUBERGER&BERMAN FOCUS ASSETS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-END>                               AUG-31-1998
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                             486
<RECEIVABLES>                                      173
<ASSETS-OTHER>                                      35
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                     694
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          218
<TOTAL-LIABILITIES>                                218
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                           582<F1>
<SHARES-COMMON-STOCK>                               42
<SHARES-COMMON-PRIOR>                               10
<ACCUMULATED-NII-CURRENT>                            0<F1>
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           (12)<F1>
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          (94)
<NET-ASSETS>                                       476
<DIVIDEND-INCOME>                                    3
<INTEREST-INCOME>                                    1
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (5)
<NET-INVESTMENT-INCOME>                            (1)
<REALIZED-GAINS-CURRENT>                          (13)
<APPREC-INCREASE-CURRENT>                        (132)
<NET-CHANGE-FROM-OPS>                            (146)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                           (6)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             37
<NUMBER-OF-SHARES-REDEEMED>                        (5)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                             333
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            6
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     87
<AVERAGE-NET-ASSETS>                               311
<PER-SHARE-NAV-BEGIN>                            14.34
<PER-SHARE-NII>                                  (.03)
<PER-SHARE-GAIN-APPREC>                         (2.42)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        (.58)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              11.31
<EXPENSE-RATIO>                                   1.50
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>Included in number is a ROCSOP entry.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Guardian Assets Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000914228
<NAME> NEUBERGER&BEMAN EQUITY ASSETS
<SERIES>
   <NUMBER> 03
   <NAME> NEUBERGER&BERMAN GUARDIAN ASSETS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-END>                               AUG-31-1998
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                          17,548
<RECEIVABLES>                                        3
<ASSETS-OTHER>                                      35
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  17,586
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           37
<TOTAL-LIABILITIES>                                 37
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        21,936<F1>
<SHARES-COMMON-STOCK>                            1,623
<SHARES-COMMON-PRIOR>                              671
<ACCUMULATED-NII-CURRENT>                            0<F1>
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (268)<F1>
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (4,119)
<NET-ASSETS>                                    17,549
<DIVIDEND-INCOME>                                  169
<INTEREST-INCOME>                                   59
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (254)
<NET-INVESTMENT-INCOME>                           (26)
<REALIZED-GAINS-CURRENT>                         (322)
<APPREC-INCREASE-CURRENT>                      (4,845)
<NET-CHANGE-FROM-OPS>                          (5,193)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                         (133)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          1,003
<NUMBER-OF-SHARES-REDEEMED>                       (61)
<SHARES-REINVESTED>                                 10
<NET-CHANGE-IN-ASSETS>                           8,242
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                          116
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    276
<AVERAGE-NET-ASSETS>                            16,919
<PER-SHARE-NAV-BEGIN>                            13.88
<PER-SHARE-NII>                                  (.02)
<PER-SHARE-GAIN-APPREC>                         (2.92)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        (.13)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.81
<EXPENSE-RATIO>                                   1.50
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>Included in number is a ROCSOP entry.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Manhattan Assets Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000914228
<NAME> NEUBERGER&BERMAN EQUITY ASSETS
<SERIES>
   <NUMBER> 04
   <NAME> NEUBERGER&BERMAN MANHATTAN ASSETS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-END>                               AUG-31-1998
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                             224
<RECEIVABLES>                                      176
<ASSETS-OTHER>                                      35
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                     435
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          227
<TOTAL-LIABILITIES>                                227
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                           235<F1>
<SHARES-COMMON-STOCK>                               19
<SHARES-COMMON-PRIOR>                               10
<ACCUMULATED-NII-CURRENT>                            0<F1>
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              1<F1>
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                          (28)
<NET-ASSETS>                                       208
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    1
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                     (3)
<NET-INVESTMENT-INCOME>                            (2)
<REALIZED-GAINS-CURRENT>                             2
<APPREC-INCREASE-CURRENT>                         (46)
<NET-CHANGE-FROM-OPS>                             (46)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                          (23)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                             10
<NUMBER-OF-SHARES-REDEEMED>                        (3)
<SHARES-REINVESTED>                                  2
<NET-CHANGE-IN-ASSETS>                              69
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                           23
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     89
<AVERAGE-NET-ASSETS>                               210
<PER-SHARE-NAV-BEGIN>                            13.75
<PER-SHARE-NII>                                  (.11)
<PER-SHARE-GAIN-APPREC>                         (1.22)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                       (1.66)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.76
<EXPENSE-RATIO>                                   1.50
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>Included number is a ROCSOP entry.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Partners Assets Annual Report and is qualified in its
entirety by reference to such document.
</LEGEND>
<CIK> 0000914228
<NAME> NEUBERGER&BERMAN EQUITY ASSETS
<SERIES>
   <NUMBER> 05
   <NAME> NEUBERGER&BERMAN PARTNERS ASSETS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-END>                               AUG-31-1998
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                          29,096
<RECEIVABLES>                                      228
<ASSETS-OTHER>                                      34
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  29,358
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           79
<TOTAL-LIABILITIES>                                 79
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        34,501<F1>
<SHARES-COMMON-STOCK>                            2,325
<SHARES-COMMON-PRIOR>                              404
<ACCUMULATED-NII-CURRENT>                           17
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (724)<F1>
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (4,515)
<NET-ASSETS>                                    29,279
<DIVIDEND-INCOME>                                  292
<INTEREST-INCOME>                                   34
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (302)
<NET-INVESTMENT-INCOME>                             24
<REALIZED-GAINS-CURRENT>                         (705)
<APPREC-INCREASE-CURRENT>                      (4,836)
<NET-CHANGE-FROM-OPS>                          (5,517)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          (8)
<DISTRIBUTIONS-OF-GAINS>                         (250)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          2,072
<NUMBER-OF-SHARES-REDEEMED>                      (169)
<SHARES-REINVESTED>                                 18
<NET-CHANGE-IN-ASSETS>                          23,460
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                          136
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    313
<AVERAGE-NET-ASSETS>                            20,086
<PER-SHARE-NAV-BEGIN>                            14.42
<PER-SHARE-NII>                                    .01
<PER-SHARE-GAIN-APPREC>                         (1.51)
<PER-SHARE-DIVIDEND>                             (.01)
<PER-SHARE-DISTRIBUTIONS>                        (.32)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              12.59
<EXPENSE-RATIO>                                   1.50
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>Included in number is a ROCSOP entry.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from the
Neuberger&Berman Socially Responsive Trust Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000914228
<NAME> NEUBERGER&BERMAN EQUITY ASSETS
<SERIES>
   <NUMBER> 01
   <NAME> NEUBERGER&BERMAN SOCIALLY RESPONSIVE TRUST
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-END>                               AUG-31-1998
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                          13,337
<RECEIVABLES>                                       25
<ASSETS-OTHER>                                      80
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  13,442
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           26
<TOTAL-LIABILITIES>                                 26
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        14,632<F1>
<SHARES-COMMON-STOCK>                            1,261
<SHARES-COMMON-PRIOR>                              676
<ACCUMULATED-NII-CURRENT>                           32<F1>
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            137<F1>
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (1,385)
<NET-ASSETS>                                    13,416
<DIVIDEND-INCOME>                                  152
<INTEREST-INCOME>                                   29
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (142)
<NET-INVESTMENT-INCOME>                             39
<REALIZED-GAINS-CURRENT>                           113
<APPREC-INCREASE-CURRENT>                      (1,847)
<NET-CHANGE-FROM-OPS>                          (1,695)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          (8)
<DISTRIBUTIONS-OF-GAINS>                          (82)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            753
<NUMBER-OF-SHARES-REDEEMED>                      (176)
<SHARES-REINVESTED>                                  8
<NET-CHANGE-IN-ASSETS>                           5,684
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                           70
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    243
<AVERAGE-NET-ASSETS>                            11,781
<PER-SHARE-NAV-BEGIN>                            11.43
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                          (.71)
<PER-SHARE-DIVIDEND>                             (.01)
<PER-SHARE-DISTRIBUTIONS>                        (.10)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.64
<EXPENSE-RATIO>                                   1.20
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>Included in number is a ROCSOP entry.
</FN>
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from
the Neuberger&Berman Genesis Assets Annual Report and is qualified
in its entirety by reference to such document.
</LEGEND>
<CIK> 0000914228
<NAME> NEUBERGER&BERMAN EQUITY ASSETS
<SERIES>
   <NUMBER> 06
   <NAME> NEUBERGER&BERMAN GENESIS ASSETS
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          AUG-31-1998
<PERIOD-END>                               AUG-31-1998
<INVESTMENTS-AT-COST>                                0
<INVESTMENTS-AT-VALUE>                          24,368
<RECEIVABLES>                                      110
<ASSETS-OTHER>                                      44
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  24,522
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           56
<TOTAL-LIABILITIES>                                 56
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        30,732<F1>
<SHARES-COMMON-STOCK>                            2,293
<SHARES-COMMON-PRIOR>                               55
<ACCUMULATED-NII-CURRENT>                           48<F1>
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                          (115)<F1>
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                       (6,199)
<NET-ASSETS>                                    24,466
<DIVIDEND-INCOME>                                  138
<INTEREST-INCOME>                                   32
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (121)
<NET-INVESTMENT-INCOME>                             49
<REALIZED-GAINS-CURRENT>                         (133)
<APPREC-INCREASE-CURRENT>                      (6,253)
<NET-CHANGE-FROM-OPS>                          (6,337)
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                            0
<DISTRIBUTIONS-OF-GAINS>                           (3)
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                          2,503
<NUMBER-OF-SHARES-REDEEMED>                      (265)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          23,736
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            2
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    194
<AVERAGE-NET-ASSETS>                             8,111
<PER-SHARE-NAV-BEGIN>                            13.21
<PER-SHARE-NII>                                    .02
<PER-SHARE-GAIN-APPREC>                         (2.52)
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                        (.04)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.67
<EXPENSE-RATIO>                                   1.50
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>Included in number is a ROCSOP entry.
</FN>
        

</TABLE>


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