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                                                               FILE NOS: 2-79359
                                                                        811-3568
 
                                  SCHEDULE 14A
                  PROXY STATEMENT PURSUANT TO SECTION 14(A) OF
                      THE SECURITIES EXCHANGE ACT OF 1934
 
     Filed by the Registrant [X]
 
     Filed by a Party other than the Registrant [ ]
 
     Check the appropriate box:
 
     [ ] Preliminary Proxy Statement        [ ] Confidential, for Use of the
                                                Commission Only (as permitted by
                                                Rule 14a-6(e)(2))
 
     [X] Definitive Proxy Statement
 
     [ ] Definitive Additional Materials
 
     [ ] Soliciting Material Pursuant to Section 240.14a-11(c) or Section
240.14a-12
 
                              MANAGED ASSETS TRUST
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                (Name of Registrant as Specified in Its Charter)
 
                                 NOT APPLICABLE
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    (Name of Person(s) Filing Proxy Statement, if other than the Registrant)
 
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0-11.
 
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                       LETTERHEAD OF COOPERS & LYBRAND



March 20, 1997

Securities and Exchange Commission
450 Fifth Street, N.W.
Wasshington, D.C. 20549

Gentlemen:

We were informed on February 28, 1997, that the Board of Trustees of Managed
Assets Trust (Commission File Number 2-79359) (the "Trust") voted to replace
Coopers & Lybrand L.L.P. as auditors of the Trust effective January 31, 1997. 
We have read the Statements made by the Board of Trustees of the Trust as part
of the definitive Proxy Statement dated March 12, 1997, which we understand was
filed with the Commission, pursuant to Regulation 229, Item 304, as part of the
Trust's Proxy Book dated March 12, 1997.  We agree with the statements
concerning our Firm in such Proxy.

Very truly yours,

/s/ Coopers & Lybrand L.L.P
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Coopers & Lybrand L.L.P.