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<PAGE> PAGE 2
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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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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SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
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<SERIES>
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<NAME> FundManager Portfolios
Aggressive Growth Portfolio
Financial Adviser
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<NAME> FundManager Portfolios
Aggressive Growth Portfolio
No-Load
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<TABLE> <S> <C>
<S> <C>
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<SERIES>
<NUMBER> 021
<NAME> FundManager Portfolios
Growth Portfolio
Financial Adviser Class
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<SERIES>
<NUMBER> 022
<NAME> FundManager Portfolios
Growth Portfolio
No-Load Class
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<PERIOD-END> Sep-30-1997
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<TABLE> <S> <C>
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<SERIES>
<NUMBER> 031
<NAME> FundManager Portfolios
Growth with Income Portfolio
Financial Adviser Class
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<SERIES>
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<NAME> FundManager Portfolios
Growth with Income Portfolio
No Load Class
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<PERIOD-END> Sep-30-1997
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<SERIES>
<NUMBER> 041
<NAME> FundManager Portfolios
Bond Portfolio
Financial Adviser Class
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<S> <C>
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<SERIES>
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Bond Portfolio
No Load Class
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<FISCAL-YEAR-END> Sep-30-1997
<PERIOD-END> Sep-30-1997
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 05
<NAME> FundManager Portfolios
Managed Total Return Portfolio
Financial Adviser Class
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Sep-30-1997
<PERIOD-END> Sep-30-1997
<INVESTMENTS-AT-COST> 9,743,274
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<NET-CHANGE-IN-ASSETS> (516,246)
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</TABLE>