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<PAGE> PAGE 2
008 D01AA01 SEATTLE
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<PAGE> PAGE 3
020 A000006 RAGEN MCKENZIE, INC.
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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SIGNATURE DAVID F HILL
TITLE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
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<PER-SHARE-NII> 0.08
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<PER-SHARE-DIVIDEND> (0.08)
<PER-SHARE-DISTRIBUTIONS> (1.21)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.35
<EXPENSE-RATIO> 2.38
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 1
<NAME> SAFECO ADVISOR EQUITY - CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
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<EXCHANGE-RATE> 1
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<SHARES-COMMON-STOCK> 572
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<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 0
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<ACCUM-APPREC-OR-DEPREC> 683
<NET-ASSETS> 6,488
<DIVIDEND-INCOME> 163
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<NET-INVESTMENT-INCOME> 57
<REALIZED-GAINS-CURRENT> 678
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<DISTRIBUTIONS-OF-GAINS> (677)
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<GROSS-EXPENSE> 148
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.34
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<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO ADVISOR NORTHWEST - CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 5,281
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<PAID-IN-CAPITAL-COMMON> 5,174
<SHARES-COMMON-STOCK> 517
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<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 161
<NET-ASSETS> 5,335
<DIVIDEND-INCOME> 44
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> (49)
<REALIZED-GAINS-CURRENT> 145
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<SHARES-REINVESTED> 1
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<AVERAGE-NET-ASSETS> 5,365
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<PER-SHARE-NII> (0.04)
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<PER-SHARE-DISTRIBUTIONS> (0.19)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.38
<EXPENSE-RATIO> 1.51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO ADVISOR NORTHWEST - CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
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<EXCHANGE-RATE> 1
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<SHARES-COMMON-STOCK> 5,174
<SHARES-COMMON-PRIOR> 517
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 161
<DIVIDEND-INCOME> 5,335
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<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 107
<REALIZED-GAINS-CURRENT> (49)
<APPREC-INCREASE-CURRENT> 145
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<EQUALIZATION> 379
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> (96)
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<SHARES-REINVESTED> (1)
<NET-CHANGE-IN-ASSETS> 1
<ACCUMULATED-NII-PRIOR> 462
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<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-EXPENSE> 0
<AVERAGE-NET-ASSETS> 130
<PER-SHARE-NAV-BEGIN> 5,365
<PER-SHARE-NII> 9.73
<PER-SHARE-GAIN-APPREC> (0.12)
<PER-SHARE-DIVIDEND> 0.86
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> (0.19)
<PER-SHARE-NAV-END> 0
<EXPENSE-RATIO> 10.28
<AVG-DEBT-OUTSTANDING> 2.25
<AVG-DEBT-PER-SHARE> 0
0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 2
<NAME> SAFECO ADVISOR NORTHWEST - CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 5,281
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<PAID-IN-CAPITAL-COMMON> 5,174
<SHARES-COMMON-STOCK> 517
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 161
<NET-ASSETS> 5,335
<DIVIDEND-INCOME> 44
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<NET-INVESTMENT-INCOME> (49)
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<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (96)
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<NUMBER-OF-SHARES-REDEEMED> (1)
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 462
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<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-EXPENSE> 130
<AVERAGE-NET-ASSETS> 5,365
<PER-SHARE-NAV-BEGIN> 9.73
<PER-SHARE-NII> (0.12)
<PER-SHARE-GAIN-APPREC> 0.86
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.19)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.28
<EXPENSE-RATIO> 2.25
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 3
<NAME> SAFECO ADVISOR IT-TREASURY - CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-31-1995
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<INVESTMENTS-AT-COST> 5,206
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<TOTAL-ASSETS> 5,733
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 141
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,183
<SHARES-COMMON-STOCK> 518
<SHARES-COMMON-PRIOR> 501
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 409
<NET-ASSETS> 5,592
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<INTEREST-INCOME> 340
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<EXPENSES-NET> 96
<NET-INVESTMENT-INCOME> 244
<REALIZED-GAINS-CURRENT> 86
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<NET-CHANGE-FROM-OPS> 773
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (244)
<DISTRIBUTIONS-OF-GAINS> (84)
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<NUMBER-OF-SHARES-SOLD> 23
<NUMBER-OF-SHARES-REDEEMED> (7)
<SHARES-REINVESTED> 1
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<GROSS-EXPENSE> 120
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<PER-SHARE-NAV-BEGIN> 9.93
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<PER-SHARE-GAIN-APPREC> 1.02
<PER-SHARE-DIVIDEND> (0.53)
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<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 10.79
<EXPENSE-RATIO> 1.32
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 3
<NAME> SAFECO ADVISOR IT-TREASURY - CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
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<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 5,206
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 409
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<DIVIDEND-INCOME> 0
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<NET-INVESTMENT-INCOME> 244
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<DISTRIBUTIONS-OF-GAINS> (84)
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<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 618
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<EXPENSE-RATIO> 2.06
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<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 3
<NAME> SAFECO ADVISOR IT-TREASURY - CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
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<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 5,206
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<ACCUM-APPREC-OR-DEPREC> 409
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 4
<NAME> SAFECO ADVISOR US GOVERNMENT - CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 4
<NAME> SAFECO ADVISOR US GOVERNMENT - CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
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<NAME> SAFECO ADVISOR US GOVERNMENT - CLASS C
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
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<NAME> SAFECO ADVISOR GNMA - CLASS A
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<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 5
<NAME> SAFECO ADVISOR GNMA - CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 5
<NAME> SAFECO ADVISOR GNMA - CLASS C
<MULTIPLIER> 1,000
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<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 6
<NAME> SAFECO ADVISOR MUNICIPAL BOND FUND-CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 6
<NAME> SAFECO ADVISOR MUNICIPAL BOND FUND-CLASS B
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<CURRENCY> U.S. DOLLARS
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 6
<NAME> SAFECO ADVISOR MUNICIPAL BOND FUND-CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
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<NAME> SAFECO ADVISOR INTERMEDIATE MUNI - CLASS A
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<AVERAGE-NET-ASSETS> 5,204
<PER-SHARE-NAV-BEGIN> 9.80
<PER-SHARE-NII> 0.44
<PER-SHARE-GAIN-APPREC> 0.91
<PER-SHARE-DIVIDEND> (0.44)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.71
<EXPENSE-RATIO> 1.31
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 7
<NAME> SAFECO ADVISOR INTERMEDIATE MUNI - CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 4,972
<INVESTMENTS-AT-VALUE> 5,353
<RECEIVABLES> 75
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 22
<TOTAL-ASSETS> 5,450
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 54
<TOTAL-LIABILITIES> 54
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,039
<SHARES-COMMON-STOCK> 504
<SHARES-COMMON-PRIOR> 500
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (24)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 381
<NET-ASSETS> 5,396
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 286
<OTHER-INCOME> 0
<EXPENSES-NET> 94
<NET-INVESTMENT-INCOME> 192
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 458
<NET-CHANGE-FROM-OPS> 650
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (192)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 497
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 117
<AVERAGE-NET-ASSETS> 5,204
<PER-SHARE-NAV-BEGIN> 9.80
<PER-SHARE-NII> 0.36
<PER-SHARE-GAIN-APPREC> 0.91
<PER-SHARE-DIVIDEND> (0.36)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.71
<EXPENSE-RATIO> 2.06
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 7
<NAME> SAFECO ADVISOR INTERMEDIATE MUNI - CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 4,972
<INVESTMENTS-AT-VALUE> 5,353
<RECEIVABLES> 75
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 22
<TOTAL-ASSETS> 5,450
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 54
<TOTAL-LIABILITIES> 54
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,039
<SHARES-COMMON-STOCK> 504
<SHARES-COMMON-PRIOR> 500
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (24)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 381
<NET-ASSETS> 5,396
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 286
<OTHER-INCOME> 0
<EXPENSES-NET> 94
<NET-INVESTMENT-INCOME> 192
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 458
<NET-CHANGE-FROM-OPS> 650
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (192)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 497
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 30
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 117
<AVERAGE-NET-ASSETS> 5,204
<PER-SHARE-NAV-BEGIN> 9.80
<PER-SHARE-NII> 0.36
<PER-SHARE-GAIN-APPREC> 0.91
<PER-SHARE-DIVIDEND> (0.36)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.71
<EXPENSE-RATIO> 2.06
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 8
<NAME> SAFECO ADVISOR WASHINGTON MUNI - CLASS A
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 5,158
<INVESTMENTS-AT-VALUE> 5,778
<RECEIVABLES> 97
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 22
<TOTAL-ASSETS> 5,897
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 82
<TOTAL-LIABILITIES> 82
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,194
<SHARES-COMMON-STOCK> 520
<SHARES-COMMON-PRIOR> 509
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 620
<NET-ASSETS> 5,815
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 332
<OTHER-INCOME> 0
<EXPENSES-NET> 99
<NET-INVESTMENT-INCOME> 233
<REALIZED-GAINS-CURRENT> 32
<APPREC-INCREASE-CURRENT> 689
<NET-CHANGE-FROM-OPS> 954
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (233)
<DISTRIBUTIONS-OF-GAINS> (10)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11
<NUMBER-OF-SHARES-REDEEMED> (1)
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 818
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 32
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 122
<AVERAGE-NET-ASSETS> 5,502
<PER-SHARE-NAV-BEGIN> 9.82
<PER-SHARE-NII> 0.50
<PER-SHARE-GAIN-APPREC> 1.40
<PER-SHARE-DIVIDEND> (0.50)
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.20
<EXPENSE-RATIO> 1.30
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 8
<NAME> SAFECO ADVISOR WASHINGTON MUNI - CLASS B
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 5,158
<INVESTMENTS-AT-VALUE> 5,778
<RECEIVABLES> 97
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 22
<TOTAL-ASSETS> 5,897
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 82
<TOTAL-LIABILITIES> 82
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,194
<SHARES-COMMON-STOCK> 520
<SHARES-COMMON-PRIOR> 509
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 620
<NET-ASSETS> 5,815
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 332
<OTHER-INCOME> 0
<EXPENSES-NET> 99
<NET-INVESTMENT-INCOME> 233
<REALIZED-GAINS-CURRENT> 32
<APPREC-INCREASE-CURRENT> 689
<NET-CHANGE-FROM-OPS> 954
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (233)
<DISTRIBUTIONS-OF-GAINS> (10)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11
<NUMBER-OF-SHARES-REDEEMED> (1)
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 818
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 32
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 122
<AVERAGE-NET-ASSETS> 5,502
<PER-SHARE-NAV-BEGIN> 9.82
<PER-SHARE-NII> 0.42
<PER-SHARE-GAIN-APPREC> 1.39
<PER-SHARE-DIVIDEND> (0.42)
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.19
<EXPENSE-RATIO> 2.05
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 921371
<NAME> SAFECO ADVISOR SERIES TRUST
<SERIES>
<NUMBER> 8
<NAME> SAFECO ADVISOR WASHINGTON MUNI - CLASS C
<MULTIPLIER> 1,000
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1995
<PERIOD-START> DEC-31-1994
<PERIOD-END> DEC-31-1995
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 5,158
<INVESTMENTS-AT-VALUE> 5,778
<RECEIVABLES> 97
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 22
<TOTAL-ASSETS> 5,897
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 82
<TOTAL-LIABILITIES> 82
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5,194
<SHARES-COMMON-STOCK> 520
<SHARES-COMMON-PRIOR> 509
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 620
<NET-ASSETS> 5,815
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 332
<OTHER-INCOME> 0
<EXPENSES-NET> 99
<NET-INVESTMENT-INCOME> 233
<REALIZED-GAINS-CURRENT> 32
<APPREC-INCREASE-CURRENT> 689
<NET-CHANGE-FROM-OPS> 954
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (233)
<DISTRIBUTIONS-OF-GAINS> (10)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11
<NUMBER-OF-SHARES-REDEEMED> (1)
<SHARES-REINVESTED> 1
<NET-CHANGE-IN-ASSETS> 818
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 32
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 122
<AVERAGE-NET-ASSETS> 5,502
<PER-SHARE-NAV-BEGIN> 9.82
<PER-SHARE-NII> 0.42
<PER-SHARE-GAIN-APPREC> 1.40
<PER-SHARE-DIVIDEND> (0.42)
<PER-SHARE-DISTRIBUTIONS> (0.02)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.20
<EXPENSE-RATIO> 2.04
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00
</TABLE>
To the Board of Directors and Shareholder
of SAFECO Advisor Series Trust
In planning and performing our audit of the financial
statements of SAFECO Advisor Series Trust for the year ended
December 31, 1995, we considered its internal control
structure, including procedures for safeguarding securities,
in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial
statements, and to comply with the requirements of Form N-
SAR, and not to provide assurance on the internal control
structure.
The management of SAFECO Advisor Series Trust is responsible
for establishing and maintaining an internal control
structure. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected
benefits and related costs of internal control policies and
procedures. Two of the objectives of an internal control
structure are to provide management with reasonable, but not
absolute, assurance that assets are safeguarded against loss
from unauthorized use or disposition and that transactions
are executed in accordance with management's authorization
and recorded properly to permit preparation of financial
statements in conformity with generally accepted accounting
principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur and may not be
detected. Also, projection of any evaluation of the
structure to future periods is subject to the risk that it
may become inadequate because of changes in conditions or
that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control structure would
not necessarily disclose all matters in the internal control
structure that might be material weaknesses under standards
established by the American Institute of Certified Public
Accountants. A material weakness is a condition in which
the design or operation of the specific internal control
structure elements does not reduce to a relatively low level
the risk that errors or irregularities in amounts that would
be material in relation to the financial statements being
audited may occur and not be detected within a timely period
by employees in the normal course of performing their
assigned functions. However, we noted no matters involving
the internal control structure, including procedures for
safeguarding securities, that we consider to be material
weaknesses as defined above as of December 31, 1995.
This report is intended solely for the information and use
of management and the Securities and Exchange Commission.
January 26, 1996
Ernst & Young, LLP