<PAGE> PAGE 1
000 B000000 12/31/1999
000 C000000 0000931465
000 D000000 N
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000 F000000 Y
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000 I000000 6.1
000 J000000 A
001 A000000 MARKMAN MULTIFUND TRUST
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001 C000000 6129204848
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007 C030200 N
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007 C020400 MARKMAN INCOME ALLOCATION PORTFOLIO
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007 C010500 5
007 C010600 6
007 C010700 7
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010 A00AA01 COUNTRYWIDE FUND SERVICES, INC.
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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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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SIGNATURE TINA D. HOSKING
TITLE SECRETARY
ARTHUR ANDERSEN
To the Shareholders and Board of Trustees of Markman MultiFund Trust:
In planning and performing our audit of the financial statements of Markman
MultiFund Trust for the year ended December 31, 1999, we considered its internal
control, including control activities 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, not
to provide assurance on internal control.
The management of the Trust is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control 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 internal control would not necessarily disclose all matters
in internal control 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 one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud 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
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of management, the
Board of Trustees and the Securities and Exchange Commission.
/s/ Arthur Andersen LLP
Cincinnati, Ohio,
January 7, 2000
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<NAME> MARKMAN AGGRESSIVE ALLOCATION PORTFOLIO
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<INVESTMENTS-AT-VALUE> 136,697,911
<RECEIVABLES> 46,376
<ASSETS-OTHER> 8,985
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<OTHER-ITEMS-LIABILITIES> 391,212
<TOTAL-LIABILITIES> 391,212
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 77,659,150
<SHARES-COMMON-STOCK> 6,141,519
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<OVERDISTRIBUTION-GAINS> (169,415)
<ACCUM-APPREC-OR-DEPREC> 58,872,325
<NET-ASSETS> 136,362,060
<DIVIDEND-INCOME> 195,676
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 986,333
<NET-INVESTMENT-INCOME> (790,657)
<REALIZED-GAINS-CURRENT> 12,150,102
<APPREC-INCREASE-CURRENT> 33,815,297
<NET-CHANGE-FROM-OPS> 45,174,742
<EQUALIZATION> 0
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<DISTRIBUTIONS-OTHER> 0
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<PER-SHARE-NII> (.13)
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<TABLE> <S> <C>
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<NAME> MARKMAN MODERATE ALLOCATION PORTFOLIO
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<NAME> MARKMAN CONSERVATIVE ALLOCATION PORTFOLIO
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