<PAGE> PAGE 1
000 A000000 06/30/97
000 C000000 0000916403
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 NORTHSTAR VARIABLE TRUST
001 B000000 811-8220
001 C000000 2038636200
002 A000000 2 PICKWICK PLAZA
002 B000000 GREENWICH
002 C000000 CT
002 D010000 06830
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 NORTHSTAR GROWTH FUND
007 C030100 N
007 C010200 2
007 C020200 NORTHSTAR INCOME & GROWTH FUND
007 C030200 N
007 C010300 3
007 C020300 NORTHSTAR MULTI-SECTOR BOND FUND
007 C030300 N
007 C010400 4
007 C020400 NORTHSTAR HIGH YIELD BOND FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 NORTHSTAR INVESTMENT MANAGEMENT CORP.
008 B00AA01 A
008 C00AA01 801-44637
008 D01AA01 GREENWICH
008 D02AA01 CT
008 D03AA01 06830
008 A00AA02 NAVELLIER FUND MANAGEMENT
008 B00AA02 S
008 C00AA02 801-000000
008 D01AA02 RENO
008 D02AA02 NV
<PAGE> PAGE 2
008 D03AA02 89501
008 A00AA03 WILSON/BENNETT CAPITAL MANAGEMENT, INC.
008 B00AA03 S
008 C00AA03 801-000000
008 D01AA03 MCLEAN
008 D02AA03 VA
008 D03AA03 22102
008 A00AA04 DELETE
010 A00AA01 NORTHSTAR ADMINISTRATORS CORP.
010 C01AA01 GREENWICH
010 C02AA01 CT
010 C03AA01 06830
011 A00AA01 NORTHSTAR DISTRIBUTORS, INC.
011 B00AA01 8-38545
011 C01AA01 GREENWICH
011 C02AA01 CT
011 C03AA01 06830
012 A00AA01 STATE STREET BANK & TRUST
012 B00AA01 84-0000000
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02171
013 A00AA01 COOPERS & LYBRAND
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10019
014 A00AA01 NORTHSTAR DISTRIBUTORS, INC.
014 B00AA01 8-38545
014 A00AA02 WASHINGTON SQUARE SECURITIES, INC.
014 B00AA02 8-00000000
014 A00AA03 PRIMEVEST FINANCIAL SERVICES, INC.
014 B00AA03 8-00000000
014 A00AA04 DELETE
015 A00AA01 STATE STREE BANK & TRUST
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02171
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 15
019 C00AA00 NORTHSTARF
020 A000001 ERNST & CO,
020 B000001 13-6659846
020 C000001 11
020 A000002 CAPITAL INSTITUTIONAL SERVICES
020 B000002 75-1565705
020 C000002 9
020 A000003 HOENING & CO.
020 B000003 13-2656060
<PAGE> PAGE 3
020 C000003 2
020 A000004 VAN KASPER & CO.
020 B000004 94-2498482
020 C000004 2
020 A000005 BEAR STEARNS SECURITIES CORP.
020 B000005 13-3299429
020 C000005 2
020 A000006 BRIDGE TRADING
020 B000006 43-1450500
020 C000006 2
020 A000007 INSTINET
020 B000007 13-3443395
020 C000007 2
020 A000008 FIDELITY CAPITAL MARKETS
020 B000008 04-2653569
020 C000008 1
020 A000009 CORRESPONDENT SERVICES, INC.
020 C000009 1
020 A000010 ADAMS HARKNESSS & HILL, INC.
020 B000010 04-2149932
020 C000010 1
021 000000 39
022 A000001 BEAR STEARNS SECURITIES CORP.
022 B000001 13-3299429
022 C000001 2910
022 D000001 1122
022 A000002 BT SECURITIES CORP.
022 C000002 1560
022 D000002 1095
022 A000003 CAPITAL INSTITUTIONAL SERVICES
022 B000003 75-1565705
022 C000003 3175
022 D000003 3403
022 A000004 ERNST & CO.
022 B000004 13-6659846
022 C000004 8777
022 D000004 2818
022 A000005 GRUNTAL & CO.
022 B000005 13-3179857
022 C000005 2807
022 D000005 1247
022 A000006 MCDONALD & CO.
022 B000006 34-0642435
022 C000006 1372
022 D000006 992
022 A000007 MERRILL LYNCH PIERCE FENNER SMITH, INC.
022 B000007 13-5674085
022 C000007 1743
022 D000007 530
022 A000008 MORGAN STANLEY AND CO., INC.
022 B000008 13-2655998
<PAGE> PAGE 4
022 C000008 1342
022 D000008 2583
022 A000009 SMITH BARNEY, INC.
022 B000009 13-1912900
022 C000009 3672
022 D000009 1556
022 A000010 STATE STREET BANK
022 B000010 13-3355129
022 C000010 686096
022 D000010 0
023 C000000 713454
023 D000000 15346
024 00AA00 N
026 A000000 N
026 B000000 Y
026 C000000 Y
026 D000000 Y
026 E000000 Y
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
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
045 00AA00 Y
046 00AA00 Y
047 00AA00 Y
<PAGE> PAGE 5
048 00AA00 0.000
048 A01AA00 250000
048 A02AA00 0.750
048 B01AA00 250000
048 B02AA00 0.700
048 C01AA00 250000
048 C02AA00 0.650
048 D01AA00 250000
048 D02AA00 0.600
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
048 K01AA00 1000000
048 K02AA00 0.550
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 Y
058 B00AA00 Y
<PAGE> PAGE 6
058 C00AA00 N
058 D00AA00 N
058 E00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 2000
070 A01AA00 Y
070 A02AA00 Y
070 B01AA00 Y
070 B02AA00 N
070 C01AA00 Y
070 C02AA00 N
070 D01AA00 Y
070 D02AA00 N
070 E01AA00 Y
070 E02AA00 N
070 F01AA00 N
070 F02AA00 N
070 G01AA00 Y
070 G02AA00 N
070 H01AA00 N
070 H02AA00 N
070 I01AA00 N
070 I02AA00 N
070 J01AA00 Y
070 J02AA00 Y
070 K01AA00 Y
070 K02AA00 N
070 L01AA00 Y
070 L02AA00 Y
070 M01AA00 Y
070 M02AA00 N
070 N01AA00 Y
070 N02AA00 N
070 O01AA00 Y
070 O02AA00 N
070 P01AA00 Y
070 P02AA00 N
070 Q01AA00 N
070 Q02AA00 N
070 R01AA00 Y
070 R02AA00 N
077 A000000 Y
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 NATIONAL UNION FIRE INSURANCE COMPANY OF PITT
080 C00AA00 5000
081 A00AA00 Y
<PAGE> PAGE 7
081 B00AA00 23
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
028 A010100 1715
028 A020100 0
028 A030100 0
028 A040100 69
028 B010100 2132
028 B020100 0
028 B030100 0
028 B040100 211
028 C010100 2592
028 C020100 40
028 C030100 0
028 C040100 697
028 D010100 2297
028 D020100 0
028 D030100 0
028 D040100 379
028 E010100 1686
028 E020100 0
028 E030100 0
028 E040100 2122
028 F010100 2244
028 F020100 54
028 F030100 0
028 F040100 101
028 G010100 12666
028 G020100 94
028 G030100 0
028 G040100 3579
028 H000100 0
062 A000100 N
<PAGE> PAGE 8
062 B000100 0.0
062 C000100 0.0
062 D000100 0.0
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 0.0
062 J000100 0.0
062 K000100 0.0
062 L000100 0.0
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
066 A000100 Y
066 B000100 N
066 C000100 N
066 D000100 Y
066 E000100 N
066 F000100 N
066 G000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
071 A000100 24006
071 B000100 15948
071 C000100 18976
071 D000100 84
072 A000100 6
072 B000100 124
072 C000100 45
072 D000100 0
072 E000100 0
072 F000100 77
072 G000100 10
072 H000100 0
072 I000100 0
072 J000100 18
072 K000100 0
072 L000100 2
072 M000100 2
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 6
072 S000100 0
<PAGE> PAGE 9
072 T000100 0
072 U000100 0
072 V000100 0
072 W000100 4
072 X000100 116
072 Y000100 34
072 Z000100 87
072AA000100 0
072BB000100 896
072CC010100 2296
072CC020100 0
072DD010100 94
072DD020100 0
072EE000100 0
073 A010100 0.1600
073 A020100 0.0000
073 B000100 0.1500
073 C000100 0.0000
074 A000100 0
074 B000100 3019
074 C000100 0
074 D000100 0
074 E000100 0
074 F000100 24107
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 175
074 K000100 15
074 L000100 117
074 M000100 1
074 N000100 27434
074 O000100 1266
074 P000100 17
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 14
074 S000100 0
074 T000100 26137
074 U010100 1749
074 U020100 0
074 V010100 14.94
074 V020100 0.00
074 W000100 0.0000
074 X000100 8
074 Y000100 0
075 A000100 0
075 B000100 20602
076 000100 0.00
<PAGE> PAGE 10
028 A010200 1719
028 A020200 0
028 A030200 0
028 A040200 140
028 B010200 648
028 B020200 0
028 B030200 0
028 B040200 318
028 C010200 496
028 C020200 120
028 C030200 0
028 C040200 104
028 D010200 735
028 D020200 0
028 D030200 0
028 D040200 214
028 E010200 593
028 E020200 0
028 E030200 0
028 E040200 166
028 F010200 1191
028 F020200 162
028 F030200 0
028 F040200 86
028 G010200 5382
028 G020200 282
028 G030200 0
028 G040200 1028
028 H000200 0
062 A000200 N
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 N
<PAGE> PAGE 11
066 E000200 Y
066 F000200 N
066 G000200 N
067 000200 Y
068 A000200 N
068 B000200 N
069 000200 N
071 A000200 6839
071 B000200 2708
071 C000200 13801
071 D000200 20
072 A000200 6
072 B000200 176
072 C000200 171
072 D000200 0
072 E000200 0
072 F000200 58
072 G000200 8
072 H000200 0
072 I000200 0
072 J000200 14
072 K000200 0
072 L000200 1
072 M000200 0
072 N000200 0
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 6
072 S000200 0
072 T000200 0
072 U000200 0
072 V000200 0
072 W000200 1
072 X000200 88
072 Y000200 27
072 Z000200 286
072AA000200 0
072BB000200 27
072CC010200 1086
072CC020200 0
072DD010200 282
072DD020200 0
072EE000200 0
073 A010200 0.2000
073 A020200 0.0000
073 B000200 0.0700
073 C000200 0.0000
074 A000200 0
074 B000200 1210
074 C000200 0
<PAGE> PAGE 12
074 D000200 6266
074 E000200 431
074 F000200 10087
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 127
074 K000200 0
074 L000200 170
074 M000200 14
074 N000200 18305
074 O000200 0
074 P000200 12
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 14
074 S000200 0
074 T000200 18279
074 U010200 1456
074 U020200 0
074 V010200 12.55
074 V020200 0.00
074 W000200 0.0000
074 X000200 9
074 Y000200 0
075 A000200 0
075 B000200 15497
076 000200 0.00
028 A010300 470
028 A020300 0
028 A030300 0
028 A040300 40
028 B010300 343
028 B020300 0
028 B030300 0
028 B040300 47
028 C010300 422
028 C020300 140
028 C030300 0
028 C040300 80
028 D010300 813
028 D020300 0
028 D030300 0
028 D040300 290
028 E010300 460
028 E020300 0
028 E030300 0
028 E040300 174
028 F010300 1090
<PAGE> PAGE 13
028 F020300 185
028 F030300 0
028 F040300 137
028 G010300 3598
028 G020300 325
028 G030300 0
028 G040300 768
028 H000300 0
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 9.6
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
062 L000300 0.0
062 M000300 4.0
062 N000300 20.0
062 O000300 0.0
062 P000300 63.0
062 Q000300 0.0
062 R000300 4.7
063 A000300 0
063 B000300 5.1
064 A000300 N
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
071 A000300 7929
071 B000300 4792
071 C000300 6588
071 D000300 73
072 A000300 6
072 B000300 342
072 C000300 16
072 D000300 0
072 E000300 0
072 F000300 27
072 G000300 4
072 H000300 0
072 I000300 0
072 J000300 13
072 K000300 0
072 L000300 1
<PAGE> PAGE 14
072 M000300 1
072 N000300 0
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 6
072 S000300 0
072 T000300 0
072 U000300 0
072 V000300 0
072 W000300 0
072 X000300 52
072 Y000300 22
072 Z000300 328
072AA000300 0
072BB000300 51
072CC010300 34
072CC020300 0
072DD010300 329
072DD020300 0
072EE000300 0
073 A010300 0.2300
073 A020300 0.0000
073 B000300 0.0000
073 C000300 0.0000
074 A000300 1
074 B000300 904
074 C000300 0
074 D000300 8201
074 E000300 430
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 12
074 J000300 0
074 K000300 11
074 L000300 124
074 M000300 1
074 N000300 9684
074 O000300 244
074 P000300 6
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 18
074 S000300 0
074 T000300 9416
074 U010300 1803
074 U020300 0
074 V010300 5.22
<PAGE> PAGE 15
074 V020300 0.00
074 W000300 0.0000
074 X000300 7
074 Y000300 0
075 A000300 0
075 B000300 8697
076 000300 0.00
028 A010400 431
028 A020400 0
028 A030400 0
028 A040400 69
028 B010400 521
028 B020400 0
028 B030400 0
028 B040400 24
028 C010400 831
028 C020400 150
028 C030400 0
028 C040400 28
028 D010400 470
028 D020400 0
028 D030400 0
028 D040400 42
028 E010400 270
028 E020400 0
028 E030400 0
028 E040400 39
028 F010400 238
028 F020400 190
028 F030400 0
028 F040400 50
028 G010400 2761
028 G020400 340
028 G030400 0
028 G040400 252
028 H000400 0
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 10.5
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 0.0
<PAGE> PAGE 16
062 P000400 77.3
062 Q000400 0.0
062 R000400 10.1
063 A000400 0
063 B000400 7.5
064 A000400 Y
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
071 A000400 5213
071 B000400 2849
071 C000400 7046
071 D000400 43
072 A000400 6
072 B000400 352
072 C000400 26
072 D000400 0
072 E000400 0
072 F000400 30
072 G000400 4
072 H000400 0
072 I000400 0
072 J000400 15
072 K000400 0
072 L000400 1
072 M000400 1
072 N000400 0
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 6
072 S000400 0
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 0
072 X000400 57
072 Y000400 25
072 Z000400 346
072AA000400 0
072BB000400 53
072CC010400 76
072CC020400 0
072DD010400 346
072DD020400 0
072EE000400 0
073 A010400 0.2800
073 A020400 0.0000
<PAGE> PAGE 17
073 B000400 0.0000
073 C000400 0.0000
074 A000400 30
074 B000400 0
074 C000400 999
074 D000400 7332
074 E000400 861
074 F000400 16
074 G000400 0
074 H000400 0
074 I000400 85
074 J000400 73
074 K000400 11
074 L000400 116
074 M000400 1
074 N000400 9524
074 O000400 0
074 P000400 6
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 27
074 S000400 0
074 T000400 9491
074 U010400 1798
074 U020400 0
074 V010400 5.28
074 V020400 0.00
074 W000400 0.0000
074 X000400 6
074 Y000400 0
075 A000400 0
075 B000400 8340
076 000400 0.00
SIGNATURE GUY NORDAHL
TITLE VICE PRESIDENT
[ARTICLE] 6
[CIK] 0000916403
[NAME] NORTHSTAR GROWTH FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-START] JAN-01-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 20637801
[INVESTMENTS-AT-VALUE] 24106877
[RECEIVABLES] 306407
[ASSETS-OTHER] 3020983
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 27434267
[PAYABLE-FOR-SECURITIES] 1266304
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 31290
[TOTAL-LIABILITIES] 1297594
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 23522065
[SHARES-COMMON-STOCK] 0
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] (397)
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (854071)
[ACCUM-APPREC-OR-DEPREC] 3469076
[NET-ASSETS] 26136673
[DIVIDEND-INCOME] 124020
[INTEREST-INCOME] 44451
[OTHER-INCOME] 0
[EXPENSES-NET] 81752
[NET-INVESTMENT-INCOME] 86719
[REALIZED-GAINS-CURRENT] (895734)
[APPREC-INCREASE-CURRENT] 2295561
[NET-CHANGE-FROM-OPS] 1486546
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (94430)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 12665725
[NUMBER-OF-SHARES-REDEEMED] (3579330)
[SHARES-REINVESTED] 94430
[NET-CHANGE-IN-ASSETS] 10572941
[ACCUMULATED-NII-PRIOR] 7314
[ACCUMULATED-GAINS-PRIOR] 41663
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 76624
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 115739
[AVERAGE-NET-ASSETS] 20602387
[PER-SHARE-NAV-BEGIN] 14.08
[PER-SHARE-NII] .05
[PER-SHARE-GAIN-APPREC] .87
[PER-SHARE-DIVIDEND] (.06)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 14.94
[EXPENSE-RATIO] .80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000916403
[NAME] NORTHSTAR INCOME AND GROWTH FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-START] JAN-01-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 14876061
[INVESTMENTS-AT-VALUE] 16783681
[RECEIVABLES] 309418
[ASSETS-OTHER] 1211845
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 18304944
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 25907
[TOTAL-LIABILITIES] 25907
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 16346885
[SHARES-COMMON-STOCK] 0
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 3799
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 20733
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 1907620
[NET-ASSETS] 18279037
[DIVIDEND-INCOME] 171073
[INTEREST-INCOME] 176513
[OTHER-INCOME] 0
[EXPENSES-NET] 61450
[NET-INVESTMENT-INCOME] 286136
[REALIZED-GAINS-CURRENT] (26821)
[APPREC-INCREASE-CURRENT] 1086221
[NET-CHANGE-FROM-OPS] 1345536
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (282337)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 5382285
[NUMBER-OF-SHARES-REDEEMED] (1027939)
[SHARES-REINVESTED] 282337
[NET-CHANGE-IN-ASSETS] 5699882
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 47554
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 57595
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 88213
[AVERAGE-NET-ASSETS] 15496723
[PER-SHARE-NAV-BEGIN] 11.72
[PER-SHARE-NII] .21
[PER-SHARE-GAIN-APPREC] .83
[PER-SHARE-DIVIDEND] (.21)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 12.55
[EXPENSE-RATIO] .80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000916403
[NAME] NORTHSTAR HIGH YIELD BOND FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-START] JAN-01-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 7918730
[INVESTMENTS-AT-VALUE] 8294136
[RECEIVABLES] 199957
[ASSETS-OTHER] 1029685
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 9523778
[PAYABLE-FOR-SECURITIES] 0
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 32742
[TOTAL-LIABILITIES] 32742
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 9173831
[SHARES-COMMON-STOCK] 0
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (58201)
[ACCUM-APPREC-OR-DEPREC] 375406
[NET-ASSETS] 9491036
[DIVIDEND-INCOME] 25754
[INTEREST-INCOME] 352099
[OTHER-INCOME] 0
[EXPENSES-NET] 32148
[NET-INVESTMENT-INCOME] 345705
[REALIZED-GAINS-CURRENT] (53283)
[APPREC-INCREASE-CURRENT] 76475
[NET-CHANGE-FROM-OPS] 368897
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (345705)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2760918
[NUMBER-OF-SHARES-REDEEMED] (252226)
[SHARES-REINVESTED] 339854
[NET-CHANGE-IN-ASSETS] 2871738
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] (4918)
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 30132
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 56939
[AVERAGE-NET-ASSETS] 8101734
[PER-SHARE-NAV-BEGIN] 5.27
[PER-SHARE-NII] 0.20
[PER-SHARE-GAIN-APPREC] 0.01
[PER-SHARE-DIVIDEND] (0.20)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 5.28
[EXPENSE-RATIO] 0.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
[ARTICLE] 6
[CIK] 0000916403
[NAME] NORTHSTAR MULTI-SECTOR FUND
<TABLE>
<S> <C>
[PERIOD-TYPE] 6-MOS
[FISCAL-YEAR-END] DEC-31-1997
[PERIOD-START] JAN-01-1997
[PERIOD-END] JUN-30-1997
[INVESTMENTS-AT-COST] 8404237
[INVESTMENTS-AT-VALUE] 8642839
[RECEIVABLES] 135165
[ASSETS-OTHER] 906190
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 9684194
[PAYABLE-FOR-SECURITIES] 243575
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 25041
[TOTAL-LIABILITIES] 268616
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 9227802
[SHARES-COMMON-STOCK] 0
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 400
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] (51185)
[ACCUM-APPREC-OR-DEPREC] 238561
[NET-ASSETS] 9415578
[DIVIDEND-INCOME] 16296
[INTEREST-INCOME] 342139
[OTHER-INCOME] 0
[EXPENSES-NET] 29503
[NET-INVESTMENT-INCOME] 328932
[REALIZED-GAINS-CURRENT] (51274)
[APPREC-INCREASE-CURRENT] 34324
[NET-CHANGE-FROM-OPS] 311982
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (328532)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 3598117
[NUMBER-OF-SHARES-REDEEMED] (767549)
[SHARES-REINVESTED] 324763
[NET-CHANGE-IN-ASSETS] 3155331
[ACCUMULATED-NII-PRIOR] 0
[ACCUMULATED-GAINS-PRIOR] 89
[OVERDISTRIB-NII-PRIOR] 0
[OVERDIST-NET-GAINS-PRIOR] 0
[GROSS-ADVISORY-FEES] 27675
[INTEREST-EXPENSE] 0
[GROSS-EXPENSE] 51986
[AVERAGE-NET-ASSETS] 8697384
[PER-SHARE-NAV-BEGIN] 5.25
[PER-SHARE-NII] 0.20
[PER-SHARE-GAIN-APPREC] (0.03)
[PER-SHARE-DIVIDEND] (0.20)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 5.22
[EXPENSE-RATIO] 0.80
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
