NSAR-B/A

      PAGE  1
000 B000000 12/31/1998
000 C000000 706453
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 MANAGED ASSETS TRUST
001 B000000 811-3568
001 C000000 2128166560
002 A000000 388 GREENWICH STREET
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10013
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 N
007 B000000  0
007 C010100  1
007 C010200  2
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A000001 MUTUAL MANAGEMENT CORP.
008 B000001 S
008 C000001 801-3389
008 D010001 NEW YORK
008 D020001 NY
008 D030001 10013
008 A000002 TRAVELERS ASSET MANAGEMENT INT'L CORP.
008 B000002 A
008 C000002 801-000000
008 D010002 HARTFORD
008 D020002 CT
008 D030002 06183
010 A000001 MUTUAL MANAGEMENT INC.
010 B000001 801-14437
010 C010001 NEW YORK
010 C020001 NY
010 C030001 10013
011 A000001 SMITH BARNEY INC.
011 B000001 8-81777
      PAGE  2
011 C010001 NEW YORK
011 C020001 NY
011 C030001 10013
012 A000001 FIRST DATA INVESTOR SERVICES GROUP
012 B000001 84-0000000
012 C010001 BOSTON
012 C020001 MA
012 C030001 02109
013 A000001 KPMG PEAR MARWICK LLP
013 B010001 NEW YORK
013 B020001 NY
013 B030001 10017
015 A000001 PNC BANK
015 B000001 C
015 C010001 PHILADELPHIA
015 C020001 PA
015 C030001 19103
015 E010001 X
018  000000 Y
019 A000000 Y
019 B000000    5
019 C000000 TRAVELERMF
020 A000001 SMITH BARNEY
020 B000001 13-1912900
020 C000001     16
020 A000002 PAINE WEBBER
020 B000002 13-2638166
020 C000002     12
020 A000003 BEAR STEARNS
020 B000003 13-3299429
020 C000003     11
020 A000004 CS FIRST BOSTON
020 B000004 13-5659485
020 C000004     10
020 A000005 FACTSET
020 B000005 N/A
020 C000005      7
020 A000006 CL GLAZIER
020 B000006 N/A
020 C000006      7
020 A000007 AUTRANET
020 B000007 13-3488904
020 C000007      7
020 A000008 STANDARD & POORS
020 B000008 N/A
020 C000008      6
020 A000009 DLJ
020 B000009 13-2741729
020 C000009      6
020 A000010 GOLDMAN SACHS
020 B000010 13-5108880
      PAGE  3
020 C000010      5
021  000000       87
022 A000001 MORGAN STANLEY
022 B000001 13-2655998
022 C000001    352809
022 D000001     23193
022 A000002 CITIBANK
022 B000002 13-5266470
022 C000002    281742
022 D000002         0
022 A000003 CS FIRST BOSTON
022 B000003 13-2655998
022 C000003      6619
022 D000003     32819
022 A000004 MERRILL LYNCH
022 B000004 13-5674085
022 C000004     20757
022 D000004      7069
022 A000005 UBS SECURITIES
022 B000005 13-2932996
022 C000005     18191
022 D000005      9016
022 A000006 GOLDMAN SACHS
022 B000006 13-5108880
022 C000006     10402
022 D000006      9555
022 A000007 LEHMAN BROTHERS
022 B000007 13-2518466
022 C000007      6896
022 D000007      8154
022 A000008 BEAR STEARNS
022 B000008 13-3299429
022 C000008      3075
022 D000008      5173
022 A000009 PAIN WEBBER
022 B000009 13-2638166
022 C000009       453
022 D000009      6174
022 A000010 JP MORGAN
022 B000010 N/A
022 C000010      1927
022 D000010      2877
023 C000000     702871
023 D000000     104030
024  000000 N
025 D000001       0
025 D000002       0
025 D000003       0
025 D000004       0
025 D000005       0
025 D000006       0
      PAGE  4
025 D000007       0
025 D000008       0
027  000000 Y
028 A010000      2251
028 A020000         0
028 A030000         0
028 A040000       856
028 B010000      1160
028 B020000         0
028 B030000         0
028 B040000      1694
028 C010000      1869
028 C020000         0
028 C030000         0
028 C040000      1594
028 D010000      1440
028 D020000         0
028 D030000         0
028 D040000      1425
028 E010000      1607
028 E020000         0
028 E030000         0
028 E040000      2148
028 F010000      2219
028 F020000         0
028 F030000         0
028 F040000       365
028 G010000     10546
028 G020000         0
028 G030000         0
028 G040000      8082
028 H000000         0
029  000000 N
030 A000000      0
030 B000000  0.00
030 C000000  0.00
031 A000000      0
031 B000000      0
032  000000      0
033  000000      0
034  000000 N
035  000000      0
036 B000000      0
037  000000 N
038  000000      0
039  000000 N
040  000000 N
041  000000 N
042 A000000   0
042 B000000   0
042 C000000   0
      PAGE  5
042 D000000   0
042 E000000   0
042 F000000   0
042 G000000   0
042 H000000   0
043  000000      0
044  000000      0
045  000000 Y
046  000000 N
047  000000 Y
048  000000  0.650
048 A010000        0
048 A020000 0.000
048 B010000        0
048 B020000 0.000
048 C010000        0
048 C020000 0.000
048 D010000        0
048 D020000 0.000
048 E010000        0
048 E020000 0.000
048 F010000        0
048 F020000 0.000
048 G010000        0
048 G020000 0.000
048 H010000        0
048 H020000 0.000
048 I010000        0
048 I020000 0.000
048 J010000        0
048 J020000 0.000
048 K010000        0
048 K020000 0.000
061  000000        0
062 A000000 N
062 B000000   0.0
062 C000000   0.0
062 D000000   0.0
062 E000000   0.0
062 F000000   0.0
062 G000000   0.0
062 H000000   0.0
062 I000000   0.0
062 J000000   0.0
062 K000000   0.0
062 L000000   0.0
062 M000000   0.0
062 N000000   0.0
062 O000000   0.0
062 P000000   0.0
062 Q000000   0.0
      PAGE  6
062 R000000   0.0
063 A000000   0
063 B000000  0.0
066 A000000 Y
066 E000000 Y
067  000000 N
068 A000000 N
068 B000000 N
069  000000 N
070 A010000 Y
070 A020000 Y
070 B010000 Y
070 B020000 N
070 C010000 Y
070 C020000 N
070 D010000 Y
070 D020000 N
070 E010000 Y
070 E020000 N
070 F010000 Y
070 F020000 Y
070 G010000 Y
070 G020000 N
070 H010000 Y
070 H020000 N
070 I010000 N
070 I020000 N
070 J010000 Y
070 J020000 Y
070 K010000 Y
070 K020000 N
070 L010000 Y
070 L020000 Y
070 M010000 Y
070 M020000 N
070 N010000 Y
070 N020000 Y
070 O010000 Y
070 O020000 N
070 P010000 N
070 P020000 N
070 Q010000 N
070 Q020000 N
070 R010000 N
070 R020000 N
071 A000000       179
071 B000000       190
071 C000000    242271
071 D000000   74
072 A000000 12
072 B000000     4703
      PAGE  7
072 C000000     2454
072 D000000        0
072 E000000        0
072 F000000     1233
072 G000000      148
072 H000000        0
072 I000000        5
072 J000000       18
072 K000000        0
072 L000000       21
072 M000000        0
072 N000000        0
072 O000000        0
072 P000000        0
072 Q000000        0
072 R000000       26
072 S000000       16
072 T000000        0
072 U000000        0
072 V000000        0
072 W000000        4
072 X000000     1471
072 Y000000        0
072 Z000000     5682
072AA000000    18004
072BB000000        0
072CC010000    24713
072CC020000        0
072DD010000     6031
072DD020000        0
072EE000000    11033
073 A010000   0.4100
073 A020000   0.0000
073 B000000   0.8600
073 C000000   0.0000
074 A000000        1
074 B000000     1741
074 C000000      627
074 D000000    71942
074 E000000     4641
074 F000000   196382
074 G000000        0
074 H000000        0
074 I000000        0
074 J000000      166
074 K000000        0
074 L000000      984
074 M000000        1
074 N000000   276484
074 O000000       62
074 P000000        0
      PAGE  8
074 Q000000        0
074 R010000        0
074 R020000        0
074 R030000        0
074 R040000      240
074 S000000        0
074 T000000   276182
074 U010000    13812
074 U020000        0
074 V010000    20.00
074 V020000     0.00
074 W000000   0.0000
074 X000000        4
074 Y000000    23411
075 A000000        0
075 B000000   242271
076  000000     0.00
077 A000000 Y
077 B000000 Y
078  000000 N
080 A000000 NATIONAL UNION FIRE INSURANCE CO.
080 C000000    12500
081 A000000 Y
081 B000000  28
082 A000000 Y
082 B000000      100
083 A000000 N
083 B000000        0
084 A000000 N
084 B000000        0
085 A000000 Y
085 B000000 N
SIGNATURE   IRVING P. DAVID                              
TITLE       CONTROLLER          
 

EX-1

To the Shareholders and Board of Trustees of
Managed Assets Trust:

In planning and performing our audit of the financial statements
of Managed Assets Trust (the "Fund") of Travelers Variable
Products Funds for the year ended December 31, 1998, 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 the internal control.

The management of the Fund 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, errors 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 the internal control would not necessarily
disclose all matters in the 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 the internal control and its operation,
including controls for safeguarding securities that we consider
to be material weaknesses as defined above.

This report is intended solely for the information and use of
management, the Board of Trustees of the Fund, and the
Securities and Exchange Commission.





February 8, 1999