<PAGE> PAGE 1
000 A000000 06/30/99
000 C000000 0000929521
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 WANGER ADVISORS TRUST
001 B000000 811-8748
001 C000000 3126349200
002 A000000 227 W MONROE, SUITE 3000
002 B000000 CHICAGO
002 C000000 IL
002 D010000 60606
002 D020000 5016
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C020100 WANGER US SMALL CAP ADVISOR
007 C030100 N
007 C010200 2
007 C020200 WANGER INTERNATIONAL SMALL CAP ADVISOR
007 C030200 N
007 C010300 3
007 C020300 WANGER TWENTY
007 C030300 N
007 C010400 4
007 C020400 WANGER FOREIGN FORTY
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
<PAGE> PAGE 2
008 A00AA01 WANGER ASSET MANAGEMENT, L.P.
008 B00AA01 A
008 C00AA01 801-41391
008 D01AA01 CHICAGO
008 D02AA01 IL
008 D03AA01 60606
008 D04AA01 5016
011 A00AA01 WAM BROKERAGE SERVICES, LLC
011 B00AA01 8-48510
011 C01AA01 CHICAGO
011 C02AA01 IL
011 C03AA01 60606
011 C04AA01 5016
012 A00AA01 STATE STREET BANK AND TRUST CO. BOSTON
012 B00AA01 85-05003
012 C01AA01 NORTH QUINCY
012 C02AA01 MA
012 C03AA01 02171
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 CHICAGO
013 B02AA01 IL
013 B03AA01 60606
014 A00AA01 WAM BROKERAGE SERVICES, L.L.C
014 B00AA01 8-48510
015 A00AA01 STATE STREET BANK & TRUST CO
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02110
015 E01AA01 X
015 A00AA02 CITIBANK NA - BUENOS AIRES
015 B00AA02 S
015 C01AA02 BUENOS AIRES
015 D01AA02 ARGENTINA
015 E04AA02 X
015 A00AA03 WESTPAC BANKING CORP.
015 B00AA03 S
015 C01AA03 SYDNEY
015 D01AA03 AUSTRALIA
015 E04AA03 X
015 A00AA04 ERSTE BANK
015 B00AA04 S
015 C01AA04 VIENNA
015 D01AA04 AUSTRIA
015 E04AA04 X
015 A00AA05 STANDARD CHARTERED BANK
015 B00AA05 S
015 C01AA05 DHAKA
015 D01AA05 BANGLADESH
015 E04AA05 X
015 A00AA06 FORTIS BANK S.A.
<PAGE> PAGE 3
015 B00AA06 S
015 C01AA06 BRUSSELS
015 D01AA06 BELGIUM
015 E04AA06 X
015 A00AA07 BARCLAY'S BANK OF BOTSWANA LTD.
015 B00AA07 S
015 C01AA07 GABARONE
015 D01AA07 BOTSWANA
015 E04AA07 X
015 A00AA08 CITIBANK, N.A., BRAZIL
015 B00AA08 S
015 C01AA08 SAO PAULO
015 D01AA08 BRAZIL
015 E04AA08 X
015 A00AA09 STATE STREET TRUST COMPANY CANADA
015 B00AA09 S
015 C01AA09 TORONTO
015 D01AA09 CANADA
015 E04AA09 X
015 A00AA10 CITIBANK, NA, CHILE
015 B00AA10 S
015 C01AA10 SANTIAGO
015 D01AA10 CHILE
015 E04AA10 X
015 A00AA11 HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA11 S
015 C01AA11 SHANGHAI,SHENZHEN
015 D01AA11 CHINA
015 E04AA11 X
015 A00AA12 CITITRUST S.A.
015 B00AA12 S
015 C01AA12 BOGOTA
015 D01AA12 COLUMBIA
015 E04AA12 X
015 A00AA13 CYPRUS POPULA BANK LIMITED
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 CITIBANK, N.A., ECUADOR
015 B00AA16 S
<PAGE> PAGE 4
015 C01AA16 QUITO
015 D01AA16 ECUADOR
015 E04AA16 X
015 A00AA17 NATIONAL BANK OF EGYPT
015 B00AA17 S
015 C01AA17 CAIRO
015 D01AA17 EGYPT
015 E04AA17 X
015 A00AA18 MERITA BANK LIMITED
015 B00AA18 S
015 C01AA18 HELSINKI
015 D01AA18 FINLAND
015 E04AA18 X
015 A00AA19 BANQUE PARIBAS
015 B00AA19 S
015 C01AA19 PARIS
015 D01AA19 FRANCE
015 E04AA19 X
015 A00AA20 DRESDNER BANK AG
015 B00AA20 S
015 C01AA20 FRANKFURT
015 D01AA20 GERMANY
015 E04AA20 X
015 A00AA21 BARCLAY'S BANK OF GHANA LIMITED
015 B00AA21 S
015 C01AA21 ACCRA
015 D01AA21 GHANA
015 E04AA21 X
015 A00AA22 NATIONAL BANK OF GREECE S.A.
015 B00AA22 S
015 C01AA22 ATHENS
015 D01AA22 GREECE
015 E04AA22 X
015 A00AA23 STANDARD CHARTERED BANK - HONG KONG
015 B00AA23 S
015 C01AA23 HONG KONG
015 D01AA23 HONG KONG
015 E04AA23 X
015 A00AA24 CITIBANK BUDAPEST RT
015 B00AA24 S
015 C01AA24 BUDAPEST
015 D01AA24 HUNGARY
015 E04AA24 X
015 A00AA25 HONGKONG AND SHANGHAI BANKING CORP. LTD.
015 B00AA25 S
015 C01AA25 MUMBAI
015 D01AA25 INDIA
015 E04AA25 X
015 A00AA26 STANDARD CHARTERED BANK
015 B00AA26 S
015 C01AA26 JAKARTA
<PAGE> PAGE 5
015 D01AA26 INDONESIA
015 E04AA26 X
015 A00AA27 BANK OF IRELAND
015 B00AA27 S
015 C01AA27 DUBLIN
015 D01AA27 IRELAND
015 E04AA27 X
015 A00AA28 BANK HAPOALIM B.M.
015 B00AA28 S
015 C01AA28 TEL AVIV
015 D01AA28 ISRAEL
015 E04AA28 X
015 A00AA29 BANQUE PARIBAS
015 B00AA29 S
015 C01AA29 MILAN
015 D01AA29 ITALY
015 E04AA29 X
015 A00AA30 THE FUJI BANK LTD.
015 B00AA30 S
015 C01AA30 TOKYO
015 D01AA30 JAPAN
015 E04AA30 X
015 A00AA31 HSBC BANK MIDDLE EAST
015 B00AA31 S
015 C01AA31 AMMAN
015 D01AA31 JORDAN
015 E04AA31 X
015 A00AA32 BARCLAY'S BANK OF KENYA LTD.
015 B00AA32 S
015 C01AA32 NAIROBI
015 D01AA32 KENYA
015 E04AA32 X
015 A00AA33 THE HONGKONG AND SHANGHAI BANKING CORP LTD
015 B00AA33 S
015 C01AA33 SEOUL
015 D01AA33 KOREA
015 E04AA33 X
015 A00AA34 STANDARD CHARTERED BANK MALAYSIA BERHAD
015 B00AA34 S
015 C01AA34 KUALA-LUMPUR
015 D01AA34 MALAYSIA
015 E04AA34 X
015 A00AA35 CITIBANK MEXICO, S.A.
015 B00AA35 S
015 C01AA35 MEXICO CITY
015 D01AA35 MEXICO
015 E04AA35 X
015 A00AA36 BANQUE COMMERCIALE DU MAROC
015 B00AA36 S
015 C01AA36 CASABLANCA
015 D01AA36 MOROCCO
<PAGE> PAGE 6
015 E04AA36 X
015 A00AA37 MEESPIERSON N.V.
015 B00AA37 S
015 C01AA37 AMSTERDAM
015 D01AA37 NETHERLANDS
015 E04AA37 X
015 A00AA38 ANZ BANKING GROUP LTD.
015 B00AA38 S
015 C01AA38 WELLINGTON
015 D01AA38 NEW ZEALAND
015 E04AA38 X
015 A00AA39 CHRISTIANIA BANK OG KREDITKASSE
015 B00AA39 S
015 C01AA39 OSLO
015 D01AA39 NORWAY
015 E04AA39 X
015 A00AA40 DEUTSCHE BANK AG, PAKISTAN
015 B00AA40 S
015 C01AA40 KARACHI
015 D01AA40 PAKISTAN
015 E04AA40 X
015 A00AA41 CITIBANK, N.A., PERU
015 B00AA41 S
015 C01AA41 LIMA
015 D01AA41 PERU
015 E04AA41 X
015 A00AA42 STANDARD CHARTERED BANK - MANILA
015 B00AA42 S
015 C01AA42 MANILA
015 D01AA42 PHILIPPINES
015 E04AA42 X
015 A00AA43 CITIBANK POLAND, S.A.
015 B00AA43 S
015 C01AA43 WARSAW
015 D01AA43 POLAND
015 E04AA43 X
015 A00AA44 BANCO COMERCIAL PORTUGUES - LISBON
015 B00AA44 S
015 C01AA44 LISBON
015 D01AA44 PORTUGAL
015 E04AA44 X
015 A00AA45 DEVELOPMENT BANK OF SINGAPORE LTD.
015 B00AA45 S
015 C01AA45 SINGAPORE
015 D01AA45 SINGAPORE
015 E04AA45 X
015 A00AA46 STANDARD BANK OF SOUTH AFRICA LIMITED
015 B00AA46 S
015 C01AA46 JOHANNESBURG
015 D01AA46 SOUTH AFRICA
015 E04AA46 X
<PAGE> PAGE 7
015 A00AA47 BANCO SANTANDER, S.A.
015 B00AA47 S
015 C01AA47 MADRID
015 D01AA47 SPAIN
015 E04AA47 X
015 A00AA48 THE HONGKONG AND SHANGHAI BANKING CORP LTD.
015 B00AA48 S
015 C01AA48 COLOMBO
015 D01AA48 SRI LANKA
015 E04AA48 X
015 A00AA49 STANBIC BANK SWAZILAND
015 B00AA49 S
015 C01AA49 MBABANE
015 D01AA49 SWAZILAND
015 E04AA49 X
015 A00AA50 SKANDINAVISKA ENSKILDA BANKEN
015 B00AA50 S
015 C01AA50 STOCKHOLM
015 D01AA50 SWEDEN
015 E04AA50 X
015 A00AA51 UNION BANK OF SWITZERLAND
015 B00AA51 S
015 C01AA51 ZURICH
015 D01AA51 SWITZERLAND
015 E04AA51 X
015 A00AA52 CENTRAL TRUST OF CHINA
015 B00AA52 S
015 C01AA52 TAIPEI
015 D01AA52 TAIWAN
015 E04AA52 X
015 A00AA53 STANDARD CHARTERED BANK - BANGKOK
015 B00AA53 S
015 C01AA53 BANGKOK
015 D01AA53 THAILAND
015 E04AA53 X
015 A00AA54 CITIBANK, N.A., TURKEY
015 B00AA54 S
015 C01AA54 ISTANBUL
015 D01AA54 TURKEY
015 E04AA54 X
015 A00AA55 STATE STREET LONDON LIMITED
015 B00AA55 S
015 C01AA55 LONDON
015 D01AA55 UNITED KINGDOM
015 E04AA55 X
015 A00AA56 HONG KONG AND SHANGHAI BANKING CORP LTD
015 B00AA56 S
015 C01AA56 PORT LOUIS
015 D01AA56 MAURITIUS
015 E04AA56 X
015 A00AA57 CITIBANK, N.A., URAGUAY
<PAGE> PAGE 8
015 B00AA57 S
015 C01AA57 MONTEVIDEO
015 D01AA57 URAGUAY
015 E04AA57 X
015 A00AA58 CITIBANK, N.A., VENEZUELA
015 B00AA58 S
015 C01AA58 CARACAS
015 D01AA58 VENEZUELA
015 E04AA58 X
015 A00AA59 BARCLAY'S BANK OF ZAMBIA LTD.
015 B00AA59 S
015 C01AA59 LUSAKA
015 D01AA59 ZAMBIA
015 E04AA59 X
015 A00AA60 BARCLAY'S BANK OF ZIMBABWE LTD.
015 B00AA60 S
015 C01AA60 HARARE
015 D01AA60 ZIMBABWE
015 E04AA60 X
015 A00AA61 EUROLCLEAR
015 B00AA61 S
015 C01AA61 BRUSSELS
015 D01AA61 BELGUIM
015 E04AA61 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 4
019 C00AA00 WATFUNDSXX
020 A000001 BRIDGE TRADING
020 B000001 43-1450530
020 C000001 68
020 A000002 HOENIG
020 B000002 13-2656060
020 C000002 30
020 A000003 INTERMOBILIARE
020 B000003 UNKNOWN
020 C000003 26
020 A000004 ENSKILDA
020 B000004 13-3497509
020 C000004 24
020 A000005 ZANNEX
020 B000005 UNKNOWN
020 C000005 24
020 A000006 SALOMON/SMITH BARNEY
020 B000006 13-1912900
020 C000006 21
020 A000007 NOMURA
020 B000007 13-2642206
020 C000007 19
020 A000008 LYNCH JONES
020 B000008 13-3356934
<PAGE> PAGE 9
020 C000008 15
020 A000009 CREDIT LYONAIS
020 B000009 UNKNOWN
020 C000009 15
020 A000010 MERRIL LYNCH
020 B000010 13-5674085
020 C000010 14
021 000000 499
022 A000001 CITI GROUP
022 B000001 UNKNOWN
022 C000001 396561
022 D000001 0
022 A000002 STATE STREET
022 B000002 04-1867445
022 C000002 185432
022 D000002 0
022 A000003 GE CAPITAL
022 B000003 UNKNOWN
022 C000003 180771
022 D000003 0
022 A000004 ASSOCIATES CORP
022 B000004 UNKNOWN
022 C000004 176617
022 D000004 0
022 A000005 FORD MOTOR CREDIT
022 B000005 38-0549190
022 C000005 175027
022 D000005 0
022 A000006 PRUDENTIAL FUNDING
022 B000006 UNKNOWN
022 C000006 166960
022 D000006 0
022 A000007 WILLIAMS CAPITAL
022 B000007 13-3747879
022 C000007 99476
022 D000007 0
022 A000008 AMERICAN GENERAL
022 B000008 35-0416090
022 C000008 56547
022 D000008 0
022 A000009 COMMERCIAL CREDIT
022 B000009 52-0883355
022 C000009 33079
022 D000009 0
022 A000010 DONLDSON LUFKIN
022 B000010 13-2741729
022 C000010 1592
022 D000010 14483
023 C000000 1515122
023 D000000 45876
026 A000000 N
<PAGE> PAGE 10
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
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
054 A00AA00 Y
054 B00AA00 Y
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
<PAGE> PAGE 11
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
062 G00AA00 0.0
062 H00AA00 0.0
062 I00AA00 0.0
062 J00AA00 0.0
062 K00AA00 0.0
062 L00AA00 0.0
062 M00AA00 0.0
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
063 A00AA00 0
063 B00AA00 0.0
077 A000000 N
078 000000 N
080 A00AA00 ICI MUTUAL
080 C00AA00 8000
081 A00AA00 Y
081 B00AA00 13
082 A00AA00 Y
082 B00AA00 50
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
024 000100 N
028 A010100 2690
<PAGE> PAGE 12
028 A020100 0
028 A030100 0
028 A040100 9587
028 B010100 3313
028 B020100 0
028 B030100 0
028 B040100 6448
028 C010100 5394
028 C020100 30514
028 C030100 0
028 C040100 13770
028 D010100 1245
028 D020100 0
028 D030100 0
028 D040100 9260
028 E010100 1525
028 E020100 0
028 E030100 0
028 E040100 3592
028 F010100 2715
028 F020100 474
028 F030100 0
028 F040100 3193
028 G010100 16882
028 G020100 30988
028 G030100 0
028 G040100 45850
028 H000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 100000
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048 B010100 150000
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048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
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048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
<PAGE> PAGE 13
048 J020100 0.000
048 K010100 250000
048 K020100 0.900
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 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
070 A010100 Y
070 A020100 N
070 B010100 Y
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
070 M020100 N
070 N010100 Y
<PAGE> PAGE 14
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
070 P020100 Y
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 54857
071 B000100 83195
071 C000100 299280
071 D000100 18
072 A000100 6
072 B000100 524
072 C000100 1700
072 D000100 0
072 E000100 0
072 F000100 1503
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072 I000100 11
072 J000100 17
072 K000100 0
072 L000100 14
072 M000100 15
072 N000100 0
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 11
072 S000100 18
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072 U000100 10
072 V000100 0
072 W000100 9
072 X000100 1608
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072 Z000100 616
072AA000100 38927
072BB000100 7333
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072EE000100 31015
073 A010100 0.0000
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073 B000100 2.1200
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<PAGE> PAGE 15
074 B000100 0
074 C000100 22244
074 D000100 0
074 E000100 0
074 F000100 317050
074 G000100 0
074 H000100 0
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074 J000100 995
074 K000100 0
074 L000100 502
074 M000100 19
074 N000100 340810
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074 R040100 69
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074 U010100 15531
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074 W000100 0.0000
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075 A000100 0
075 B000100 321459
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024 000200 Y
025 A000201 KEMPEN
025 C000201 E
025 D000201 2584
025 A000202 DELETE
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 1191
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028 A030200 0
028 A040200 2157
028 B010200 600
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<PAGE> PAGE 16
028 B040200 2941
028 C010200 1964
028 C020200 2392
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028 C040200 4328
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028 F040200 1513
028 G010200 7859
028 G020200 2392
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045 000200 Y
046 000200 N
047 000200 Y
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048 J010200 0
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048 K010200 250000
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050 000200 N
051 000200 N
<PAGE> PAGE 17
052 000200 N
053 A000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 0
066 A000200 Y
066 B000200 N
066 C000200 N
066 D000200 Y
066 E000200 N
066 F000200 N
066 G000200 N
067 000200 N
068 A000200 N
068 B000200 Y
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 Y
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070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 Y
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 Y
070 M010200 Y
070 M020200 Y
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
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070 Q010200 N
<PAGE> PAGE 18
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 53569
071 B000200 58001
071 C000200 147095
071 D000200 36
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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048 I010300 0
048 I020300 0.000
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048 J020300 0.000
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049 000300 N
050 000300 N
051 000300 N
052 000300 N
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058 A000300 N
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060 A000300 N
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<PAGE> PAGE 21
068 A000300 N
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070 E020300 N
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070 G020300 N
070 H010300 Y
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 N
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070 L020300 N
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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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050 000400 N
051 000400 N
052 000400 N
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060 A000400 N
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<PAGE> PAGE 25
070 G010400 Y
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<PAGE> PAGE 26
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SIGNATURE BRUCE H. LAUER
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<LEGEND>
THE FOLLOWING IS EXTRACTED FROM AND QUALIFIED BY REFERENCE TO REGISTRANT'S
REPORT NSAR FOR THE PERIOD ENDED JUNE 30, 1999 AND THE UNAUDITED FINANCIAL
STATEMENTS INCLUDED IN REGISTRANT'S SEMI ANNUAL REPORT TO SHAREHOLDERS.
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<SERIES>
<NUMBER> 1
<NAME> WANGER US SMALL CAP
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<LEGEND>
THE FOLLOWING IS EXTRACTED FROM AND QUALIFIED BY REFERENCE TO REGISTRANT'S
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<SERIES>
<NUMBER> 02
<NAME> WANGER INTERNATIONAL SMALL CAP ADVISOR
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<LEGEND>
THE FOLLOWING IS EXTRACTED FROM AND QUALIFIED BY REFERENCE TO REGISTRANT'S
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STATEMENTS INCLUDED IN REGISTRANT'S SEMI ANNUAL REPORT TO SHAREHOLDERS.
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<SERIES>
<NUMBER> 03
<NAME> WANGER TWENTY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<LEGEND>
THE FOLLOWING IS EXTRACTED FROM AND QUALIFIED BY REFERENCE TO REGISTRANT'S
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<SERIES>
<NUMBER> 04
<NAME> WANGER FOREIGN FORTY
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