EXHIBIT (j)(1)

                          INDEPENDENT AUDITORS' CONSENT


The Shareholders and Board of Trustees of
Managed Assets Trust:

We consent to the incorporation by reference, in this registration statement, of
our report dated February 13, 2004, on the statement of assets and liabilities,
including the schedule of investments, of the Managed Assets Trust (the "Fund")
as of December 31, 2003, and the related statement of operations for the year
then ended, the statements of changes in net assets for each of the years in the
two-year period then ended and the financial highlights for each of the years in
the five-year period then ended. These financial statements and financial
highlights and our report thereon are included in the Annual Report of the Fund
as filed on Form N-CSR.

We also consent to the references to our firm under the headings "Financial
Highlights" in the Prospectus and "Financial Statements" in the Statement of
Additional Information.


                                                                        KPMG LLP


New York, New York
April 29, 2004