<PAGE> PAGE 1
000 B000000 12/31/98
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002 C000000 IA
002 D010000 50309
003 000000 N
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005 000000 N
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007 C030100 N
007 C010200 2
007 C020200 MORTGAGE-BACKED SECURITIES PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 INTERNATIONAL FIXED INCOME PORTFOLIO
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C020700 OTC PORTFOLIO
007 C030700 N
007 C010800 8
007 C020800 RESEARCH PORTFOLIO
007 C030800 N
007 C010900 9
007 C020900 TOTAL RETURN PORTFOLIO
007 C030900 N
007 C011000 10
007 C021000 ADVANTAGE PORTFOLIO
007 C031000 N
007 C011100 11
007 C021100 VALUE & GROWTH PORTFOLIO
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<PAGE> PAGE 2
007 C031200 N
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010 C02AA01 IA
010 C03AA01 50309
010 A00AA02 STATE STREET BANK AND TRUST COMPANY
010 B00AA02 85-05003
010 C01AA02 BOSTON
010 C02AA02 MA
010 C03AA02 02110
012 A00AA01 STATE STREET BANK AND TRUST COMPANY
012 B00AA01 85-05003
012 C01AA01 BOSTON
012 C02AA01 MA
012 C03AA01 02110
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02116
014 A00AA01 MFS FUND DISTRIBUTORS, INC.
014 B00AA01 8-01-17352
014 A00AA02 EQUITABLE OF IOWA SECURITIES NETWORK, INC.
014 B00AA02 8-47-277
014 A00AA03 LOCUST STREET SECURITIES, INC.
014 B00AA03 8-11-8522
014 A00AA04 SWISS VOLKSBANK SECURITIES LIMITED
014 B00AA04 8-xxxxxxxx
014 A00AA05 CREDIT SUISSE (GUERNSEY) LIMITED
014 B00AA05 8-01-19906
014 A00AA06 CREDIT SUISSE FINANCIAL PRODUCTS
014 B00AA06 8-01-40177
014 A00AA07 CS FIRST BOSTON LIMITED
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014 A00AA08 CS FIRST BOSTON EQUITIES (EUROPE) LIMITED
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014 A00AA09 CS FIRST BOSTON (SWITZERLAND) AG
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014 A00AA10 CS FIRST BOSTON FRANCE S.A.
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014 A00AA11 CS FIRST BOSTON ITALIA SPA
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014 A00AA13 CS FIRST BOSTON GILTS LIMITED
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014 A00AA14 CS FIRST BOSTON (NEDERLAND) N.V.
014 B00AA14 8-xxxxxxxx
014 A00AA15 CS FIRST BOSTON BUDAPEST RT
014 B00AA15 8-xxxxxxxx
014 A00AA16 CS FIRST BOSTON (JAPAN) LIMITED
<PAGE> PAGE 3
014 B00AA16 8-xxxxxxxx
014 A00AA17 CS FIRST BOSTON (SINGAPORE) LIMITED
014 B00AA17 8-xxxxxxxx
014 A00AA18 CS FIRST BOSTON (HONG KONG) LIMITED
014 B00AA18 8-xxxxxxxx
014 A00AA19 CS FIRST BOSTON NZ SECURITIES LIMITED
014 B00AA19 8-xxxxxxxx
014 A00AA20 CS FIRST BOSTON NZ FUTURES LIMITED
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014 A00AA21 CS FIRST BOSTON NZ LIMITED
014 B00AA21 8-xxxxxxxx
014 A00AA22 CS FIRST BOSTON AUSTRALIA LIMITED
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014 A00AA23 CS FIRST BOSTON AUSTRALIA SECURITIES LIMITED
014 B00AA23 8-xxxxxxxx
014 A00AA24 CS FIRST BOSTON AUSTRALIA EQUITIES LIMITED
014 B00AA24 8-xxxxxxxx
014 A00AA25 CS FIRST BOSTON AUSTRALIA DISCOUNT LIMITED
014 B00AA25 8-xxxxxxxx
014 A00AA26 CREDIT SUISSE ASSET MANAGEMENT LIMITED
014 B00AA26 8-xxxxxxxx
014 A00AA27 CREDIT SUISSE ASSET MANAGEMENT, INC.
014 B00AA27 8-xxxxxxxx
014 A00AA28 CS FIRST BOSTON PRAHA A.S.
014 B00AA28 8-xxxxxxxx
014 A00AA29 SWISS AMERICAN SECURITIES, INC.
014 B00AA29 8-xxxxxxxx
014 A00AA30 ROBERTSON, STEPHENS & COMPANY LLC
014 B00AA30 8-xxxxxxxx
014 A00AA31 CREDIT SUISSE FIDES TRUST LIMITED
014 B00AA31 8-xxxxxxxx
014 A00AA32 CREDIT SUISSE TRUST & BANKING CO. LIMITED
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014 A00AA33 CS FIRST BOSTON (POLSKA) S.A.
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014 A00AA34 CS FIRST BOSTON A/O, MOSCOW
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014 A00AA35 CS FIRST BOSTON SECURITIES B.V.
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015 C03AA01 02110
015 E01AA01 X
015 A00AA02 CITIBANK, N.A.
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<PAGE> PAGE 4
015 C01AA02 BUENOS AIRES
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 WESTPAC BANKING CORPORATION
015 B00AA03 S
015 C01AA03 SYDNEY
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 GIROCREDIT BANK AKTIENGESELLSCHAFT
015 B00AA04 S
015 C01AA04 VIENNA
015 D01AA04 AUSTRIA
015 E04AA04 X
015 A00AA05 GENERALE BANK
015 B00AA05 S
015 C01AA05 BRUSSELS
015 D01AA05 BELGIUM
015 E04AA05 X
015 A00AA06 STANDARD CHARTERED BANK
015 B00AA06 S
015 C01AA06 DHAKA
015 D01AA06 BANGLADESH
015 E04AA06 X
015 A00AA07 BARCLAYS BANK OF BOTSWANA LTD
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015 C01AA07 GABORONE
015 D01AA07 BOTSWANA
015 E04AA07 X
015 A00AA08 CITIBANK, N.A.
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015 C01AA08 SAO PAULO
015 D01AA08 BRAZIL
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015 A00AA09 CANADA TRUSTCO MORTGAGE COMPANY
015 B00AA09 S
015 C01AA09 TORONTO
015 D01AA09 CANADA
015 E04AA09 X
015 A00AA10 CITIBANK, N.A.
015 B00AA10 S
015 C01AA10 SANTIAGO
015 D01AA10 CHILE
015 E04AA10 X
015 A00AA11 THE HONG KONG & SHANGHAI BANKING CORP. LTD.
015 B00AA11 S
015 C01AA11 SHANGHAI
015 D01AA11 P.R. CHINA
015 E04AA11 X
015 A00AA12 CITITRUST COLOMBIA S.A. SOCIEDAD FIDUCIARIA
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015 C01AA12 BOGOTA
<PAGE> PAGE 5
015 D01AA12 COLOMBIA
015 E04AA12 X
015 A00AA13 BARCLAYS BANK PLC
015 B00AA13 S
015 C01AA13 NICOSIA
015 D01AA13 CYPRUS
015 E04AA13 X
015 A00AA14 CESKOSLOVENSKA OBCHODNI BANKA A.S.
015 B00AA14 S
015 C01AA14 PRAGUE
015 D01AA14 CZECH REPUBLIC
015 E04AA14 X
015 A00AA15 DEN DANSKE BANK
015 B00AA15 S
015 C01AA15 COPENHAGEN
015 D01AA15 DENMARK
015 E04AA15 X
015 A00AA16 NATIONAL BANK OF EGYPT
015 B00AA16 S
015 C01AA16 CAIRO
015 D01AA16 EGYPT
015 E04AA16 X
015 A00AA17 MERITA BANK LTD
015 B00AA17 S
015 C01AA17 HELSINKI
015 D01AA17 FINLAND
015 E04AA17 X
015 A00AA18 BANQUE PARIBAS
015 B00AA18 S
015 C01AA18 PARIS
015 D01AA18 FRANCE
015 E04AA18 X
015 A00AA19 DRESDNER BANK AG
015 B00AA19 S
015 C01AA19 FRANKFURT
015 D01AA19 GERMANY
015 E04AA19 X
015 A00AA20 BARCLAYS BANK OF GHANA LTD.
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015 A00AA21 NATIONAL BANK OF GREECE, S.A.
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015 A00AA22 STANDARD CHARTERED BANK PLC
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<PAGE> PAGE 6
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015 A00AA25 STANDARD CHARTERED BANK PLC
015 B00AA25 S
015 C01AA25 JAKARTA
015 D01AA25 INDONESIA
015 E04AA25 X
015 A00AA26 BANK OF IRELAND
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015 C01AA26 DUBLIN
015 D01AA26 IRELAND
015 E04AA26 X
015 A00AA27 BANK HAPOALIM B.M.
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015 C01AA27 TEL AVIV
015 D01AA27 ISRAEL
015 E04AA27 X
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015 B00AA28 S
015 C01AA28 MILAN
015 D01AA28 ITALY
015 E04AA28 X
015 A00AA29 SUMITOMO TRUST & BANKING CO., LTD.
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015 D01AA29 JAPAN
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015 A00AA30 BRITISH BANK OF MIDDLE EAST. AMMAN
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015 D01AA30 JORDAN
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015 A00AA31 BARCLAYS BANK OF KENYA LTD.
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015 E04AA31 X
015 A00AA32 SEOULBANK
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<PAGE> PAGE 7
015 A00AA33 STANDARD CHARTERED BANK MALAYSIA BERHAD
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015 C01AA33 KUALA LUMPUR
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015 C01AA35 CASABLANCA
015 D01AA35 MOROCCO
015 E04AA35 X
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015 D01AA36 NETHERLANDS
015 E04AA36 X
015 A00AA37 ANZ BANKING GROUP LTD.
015 B00AA37 S
015 C01AA37 WELLINGTON
015 D01AA37 NEW ZEALAND
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015 A00AA38 CHRISTIANIA BANK OG KREDITKASSE
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015 D01AA38 NORWAY
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015 A00AA39 DEUTSCHE BANK AG
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015 C01AA39 KARACHI
015 D01AA39 PAKISTAN
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015 A00AA40 CITIBANK N.A.
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015 C01AA40 LIMA
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<PAGE> PAGE 8
015 B00AA43 S
015 C01AA43 LISBON
015 D01AA43 PORTUGAL
015 E04AA43 X
015 A00AA44 THE DEVELOPMENT BANK OF SINGAPORE LTD. (DBS)
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015 C01AA44 SINGAPORE
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015 A00AA45 STANDARD BANK OF SOUTH AFRICA LIMITED
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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 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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<PAGE> PAGE 37
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<PAGE> PAGE 38
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008 A001001 EQUITABLE INVESTMENT SERVICES, INC.
008 B001001 A
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008 D021001 IA
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<PAGE> PAGE 39
025 A001003 DELETE
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045 001000 Y
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<PAGE> PAGE 40
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<PAGE> PAGE 41
070 B021000 N
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070 C021000 N
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070 E011000 Y
070 E021000 N
070 F011000 N
070 F021000 N
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070 I021000 N
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070 K011000 Y
070 K021000 N
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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008 A001201 EQUITABLE INVESTMENT SERVICE, INC.
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<PAGE> PAGE 48
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<PAGE> PAGE 49
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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<PAGE> PAGE 52
SIGNATURE CHRISTOPHER SMYTHE
TITLE ASSISTANT TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NUMBER-OF-SHARES-REDEEMED> (2,285,403)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (17,567,477)
<ACCUMULATED-NII-PRIOR> 1,232
<ACCUMULATED-GAINS-PRIOR> (17,966)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 95,035
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 130,483
<AVERAGE-NET-ASSETS> 20,474,308
<PER-SHARE-NAV-BEGIN> 10.85
<PER-SHARE-NII> 0.38
<PER-SHARE-GAIN-APPREC> (10.67)
<PER-SHARE-DIVIDEND> (0.36)
<PER-SHARE-DISTRIBUTIONS> (0.20)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 1.03
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 01
<NAME> Equi-Select Trust Money Market Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 35,599,125
<ACCUMULATED-NII-CURRENT> 5,852
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (5,852)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1,339,460
<OTHER-INCOME> 0
<EXPENSES-NET> 137,445
<NET-INVESTMENT-INCOME> 1,202,015
<REALIZED-GAINS-CURRENT> (1,094)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 1,200,921
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (1,196,163)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 85,284,653
<NUMBER-OF-SHARES-REDEEMED> (121,993,078)
<SHARES-REINVESTED> 1,109,300
<NET-CHANGE-IN-ASSETS> (35,594,367)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (4,758)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 89,088
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 137,445
<AVERAGE-NET-ASSETS> 38,431,562
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> (1.00)
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.58
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 11
<NAME> Equi-Select Trust Value + Growth Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 6,057,590
<ACCUMULATED-NII-CURRENT> (281,588)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 281,588
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 373,959
<INTEREST-INCOME> 165,277
<OTHER-INCOME> 0
<EXPENSES-NET> 820,824
<NET-INVESTMENT-INCOME> (281,588)
<REALIZED-GAINS-CURRENT> 12,763,009
<APPREC-INCREASE-CURRENT> (4,744,414)
<NET-CHANGE-FROM-OPS> 7,737,007
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (10,885,236)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5,720,723
<NUMBER-OF-SHARES-REDEEMED> (12,579,096)
<SHARES-REINVESTED> 800,783
<NET-CHANGE-IN-ASSETS> (80,056,236)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (1,596,185)
<GROSS-ADVISORY-FEES> 719,797
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 820,824
<AVERAGE-NET-ASSETS> 123,222,551
<PER-SHARE-NAV-BEGIN> 13.22
<PER-SHARE-NII> 0.00
<PER-SHARE-GAIN-APPREC> (12.22)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.00)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 1.08
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 03
<NAME> Equi-Select Trust International Fixed Income
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 1,165,908
<ACCUMULATED-NII-CURRENT> 134,202
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (134,202)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 659,144
<OTHER-INCOME> 0
<EXPENSES-NET> 127,401
<NET-INVESTMENT-INCOME> 531,743
<REALIZED-GAINS-CURRENT> 6,347
<APPREC-INCREASE-CURRENT> 129,630
<NET-CHANGE-FROM-OPS> 667,720
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (382,646)
<DISTRIBUTIONS-OF-GAINS> (134,106)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 606,460
<NUMBER-OF-SHARES-REDEEMED> (1,772,368)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (12,133,028)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> (14,895)
<OVERDIST-NET-GAINS-PRIOR> (6,443)
<GROSS-ADVISORY-FEES> 72,024
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 127,401
<AVERAGE-NET-ASSETS> 13,700,319
<PER-SHARE-NAV-BEGIN> 10.41
<PER-SHARE-NII> 0.36
<PER-SHARE-GAIN-APPREC> (10.47)
<PER-SHARE-DIVIDEND> (0.26)
<PER-SHARE-DISTRIBUTIONS> (0.04)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 1.50
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 07
<NAME> Equi-Select Trust OTC Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 6,970,469
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (568,844)
<ACCUMULATED-NET-GAINS> 568,844
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 166,412
<INTEREST-INCOME> 191,162
<OTHER-INCOME> 0
<EXPENSES-NET> 926,418
<NET-INVESTMENT-INCOME> (568,844)
<REALIZED-GAINS-CURRENT> 9,747,100
<APPREC-INCREASE-CURRENT> (8,147,395)
<NET-CHANGE-FROM-OPS> 1,030,861
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (11,386,773)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 4,733,515
<NUMBER-OF-SHARES-REDEEMED> (12,430,449)
<SHARES-REINVESTED> 726,465
<NET-CHANGE-IN-ASSETS> (110,280,165)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2,208,517
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 776,623
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 926,418
<AVERAGE-NET-ASSETS> 157,049,397
<PER-SHARE-NAV-BEGIN> 15.82
<PER-SHARE-NII> (0.07)
<PER-SHARE-GAIN-APPREC> (14.76)
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (0.99)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.95
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 08
<NAME> Equi-Select Trust Research Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 13,381,540
<ACCUMULATED-NII-CURRENT> 56,115
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (56,115)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 2,151,242
<INTEREST-INCOME> 593,360
<OTHER-INCOME> 0
<EXPENSES-NET> 1,967,981
<NET-INVESTMENT-INCOME> 776,621
<REALIZED-GAINS-CURRENT> 31,430,855
<APPREC-INCREASE-CURRENT> (22,917,076)
<NET-CHANGE-FROM-OPS> 9,290,400
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (777,101)
<DISTRIBUTIONS-OF-GAINS> (33,783,874)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 10,316,770
<NUMBER-OF-SHARES-REDEEMED> (25,596,676)
<SHARES-REINVESTED> 1,898,366
<NET-CHANGE-IN-ASSETS> (240,114,529)
<ACCUMULATED-NII-PRIOR> 56,595
<ACCUMULATED-GAINS-PRIOR> 2,296,904
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,637,629
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,967,981
<AVERAGE-NET-ASSETS> 349,792,613
<PER-SHARE-NAV-BEGIN> 17.94
<PER-SHARE-NII> 0.05
<PER-SHARE-GAIN-APPREC> (16.46)
<PER-SHARE-DIVIDEND> (0.04)
<PER-SHARE-DISTRIBUTIONS> (1.49)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.91
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 09
<NAME> Equi-Select Trust Total Return Portfolio
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> DEC-31-1998
<PERIOD-END> DEC-31-1998
<INVESTMENTS-AT-COST> 0
<INVESTMENTS-AT-VALUE> 0
<RECEIVABLES> 0
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 0
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 0
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 0
<SHARES-COMMON-STOCK> 0
<SHARES-COMMON-PRIOR> 11,452,552
<ACCUMULATED-NII-CURRENT> 52,232
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (52,232)
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 0
<DIVIDEND-INCOME> 1,995,270
<INTEREST-INCOME> 4,769,745
<OTHER-INCOME> 0
<EXPENSES-NET> 1,495,668
<NET-INVESTMENT-INCOME> 5,269,347
<REALIZED-GAINS-CURRENT> 15,850,471
<APPREC-INCREASE-CURRENT> (15,722,501)
<NET-CHANGE-FROM-OPS> 5,397,317
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,054,738)
<DISTRIBUTIONS-OF-GAINS> (17,989,043)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,549,728
<NUMBER-OF-SHARES-REDEEMED> (21,002,280)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> (175,896,539)
<ACCUMULATED-NII-PRIOR> 837,623
<ACCUMULATED-GAINS-PRIOR> 2,086,340
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,284,711
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,495,668
<AVERAGE-NET-ASSETS> 259,963,819
<PER-SHARE-NAV-BEGIN> 15.36
<PER-SHARE-NII> 0.34
<PER-SHARE-GAIN-APPREC> (14.55)
<PER-SHARE-DIVIDEND> (0.29)
<PER-SHARE-DISTRIBUTIONS> (0.86)
<RETURNS-OF-CAPITAL> 0.00
<PER-SHARE-NAV-END> 0.00
<EXPENSE-RATIO> 0.93
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
