Exhibit 16 
    

   
                              POWER OF ATTORNEY 
    

   
   KNOW ALL MEN BY THESE PRESENTS, that, the undersigned Trustee of Mutual 
Fund Trust, a Massachusetts business trust, (the "Fund") constitutes and 
appoints H. Richard Vartabedian and Fergus Reid, III as my and lawful 
attorneys-in-fact, with full power of substitution and resubstitution, for me 
and in my name, place and stead, in any and all capacities as a Trustee of 
the Fund, to sign for me and in my name in the appropriate capacity, any and 
all Registration Statement on Form N-14 of the Fund, any and all Amendments 
to said Registration Statement and any supplements or other instruments in 
connection therewith, and generally to do all such things in my name and 
behalf in connection therewith as said attorneys-in-fact deem necessary or 
appropriate, to comply with the provisions of the Securities Act of 1933, as 
amended, and the Investment Company Act of 1940, as amended, and all related 
requirements of the Securities and Exchange Commission, hereby ratifying and 
confirming all that said attorneys-in-fact or their substitutes may do or 
cause to be done by virtue hereof. 
    

   
   Witness my hand on this 15th day of January, 1996.

/s/ Fergus Reid, III
- --------------------
    Fergus Reid, III 
    



 
   
                              POWER OF ATTORNEY 
    

   
  KNOW ALL MEN BY THESE PRESENTS, that, the undersigned Trustee of Mutual Fund
Trust, a Massachusetts business trust, (the "Fund") constitutes and appoints
H. Richard Vartabedian and Fergus Reid, III as my and lawful
attorneys-in-fact, with full power of substitution and resubstitution, for me
and in my name, place and stead, in any and all capacities as a Trustee of the
Fund, to sign for me and in my name in the appropriate capacity, any and all
Registration Statement on Form N-14 of the Fund, any and all Amendments to
said Registration Statement and any supplements or other instruments in
connection therewith, and generally to do all such things in my name and
behalf in connection therewith as said attorneys-in-fact deem necessary or
appropriate, to comply with the provisions of the Securities Act of 1933, as
amended, and the Investment Company Act of 1940, as amended, and all related
requirements of the Securities and Exchange Commission, hereby ratifying and
confirming all that said attorneys-in-fact or their substitutes may do or
cause to be done by virtue hereof.
    

   
  Witness my hand on this 17th day of January, 1996. 

/s/ William J. Armstrong
- ------------------------
    William J. Armstrong
    




 
                              POWER OF ATTORNEY

   
  KNOW ALL MEN BY THESE PRESENTS, that, the undersigned Trustee of Mutual Fund
Trust, a Massachusetts business trust, (the "Fund") constitutes and appoints
H. Richard Vartabedian and Fergus Reid, III as my and lawful
attorneys-in-fact, with full power of substitution and resubstitution, for me
and in my name, place and stead, in any and all capacities as a Trustee of the
Fund, to sign for me and in my name in the appropriate capacity, any and all
Registration Statement on Form N-14 of the Fund, any and all Amendments to
said Registration Statement and any supplements or other instruments in
connection therewith, and generally to do all such things in my name and
behalf in connection therewith as said attorneys-in-fact deem necessary or
appropriate, to comply with the provisions of the Securities Act of 1933, as
amended, and the Investment Company Act of 1940, as amended, and all related
requirements of the Securities and Exchange Commission, hereby ratifying and
confirming all that said attorneys-in-fact or their substitutes may do or
cause to be done by virtue hereof.
    

   
  Witness my hand on this 15th day of January, 1996. 

/s/ John R.H. Blum 
- ------------------
    John R.H. Blum
    



 
                              POWER OF ATTORNEY

   
  KNOW ALL MEN BY THESE PRESENTS, that, the undersigned Trustee of Mutual Fund
Trust, a Massachusetts business trust, (the "Fund") constitutes and appoints
H. Richard Vartabedian and Fergus Reid, III as my and lawful
attorneys-in-fact, with full power of substitution and resubstitution, for me
and in my name, place and stead, in any and all capacities as a Trustee of the
Fund, to sign for me and in my name in the appropriate capacity, any and all
Registration Statement on Form N-14 of the Fund, any and all Amendments to
said Registration Statement and any supplements or other instruments in
connection therewith, and generally to do all such things in my name and
behalf in connection therewith as said attorneys-in-fact deem necessary or
appropriate, to comply with the provisions of the Securities Act of 1933, as
amended, and the Investment Company Act of 1940, as amended, and all related
requirements of the Securities and Exchange Commission, hereby ratifying and
confirming all that said attorneys-in-fact or their substitutes may do or
cause to be done by virtue hereof.
    

   
  Witness my hand on this 15th day of January, 1996. 

/s/ Joseph J. Harkins
- ---------------------
    Joseph J. Harkins
    




 
                              POWER OF ATTORNEY

   
  KNOW ALL MEN BY THESE PRESENTS, that, the undersigned Trustee of Mutual Fund
Trust, a Massachusetts business trust, (the "Fund") constitutes and appoints
H. Richard Vartabedian and Fergus Reid, III as my and lawful
attorneys-in-fact, with full power of substitution and resubstitution, for me
and in my name, place and stead, in any and all capacities as a Trustee of the
Fund, to sign for me and in my name in the appropriate capacity, any and all
Registration Statement on Form N-14 of the Fund, any and all Amendments to
said Registration Statement and any supplements or other instruments in
connection therewith, and generally to do all such things in my name and
behalf in connection therewith as said attorneys-in-fact deem necessary or
appropriate, to comply with the provisions of the Securities Act of 1933, as
amended, and the Investment Company Act of 1940, as amended, and all related
requirements of the Securities and Exchange Commission, hereby ratifying and
confirming all that said attorneys-in-fact or their substitutes may do or
cause to be done by virtue hereof.
    

   
  Witness my hand on this 15th day of January, 1996. 

/s/ Richard E. Ten Haken
- ------------------------
    Richard E. Ten Haken
    




 
                              POWER OF ATTORNEY

   
  KNOW ALL MEN BY THESE PRESENTS, that, the undersigned Trustee of Mutual Fund
Trust, a Massachusetts business trust, (the "Fund") constitutes and appoints
H. Richard Vartabedian and Fergus Reid, III as my and lawful
attorneys-in-fact, with full power of substitution and resubstitution, for me
and in my name, place and stead, in any and all capacities as a Trustee of the
Fund, to sign for me and in my name in the appropriate capacity, any and all
Registration Statement on Form N-14 of the Fund, any and all Amendments to
said Registration Statement and any supplements or other instruments in
connection therewith, and generally to do all such things in my name and
behalf in connection therewith as said attorneys-in-fact deem necessary or
appropriate, to comply with the provisions of the Securities Act of 1933, as
amended, and the Investment Company Act of 1940, as amended, and all related
requirements of the Securities and Exchange Commission, hereby ratifying and
confirming all that said attorneys-in-fact or their substitutes may do or
cause to be done by virtue hereof.
    

   
   Witness my hand on this 14th day of January, 1996. 

/s/ Stuart W. Cragin, JR.
- -------------------------
    Stuart W. Cragin, Jr. 
    



    
                              POWER OF ATTORNEY

  KNOW ALL MEN BY THESE PRESENTS, that, the undersigned Trustee of Mutual Fund
Trust, a Massachusetts business trust, (the "Fund") constitutes and appoints
H. Richard Vartabedian and Fergus Reid, III as my and lawful
attorneys-in-fact, with full power of substitution and resubstitution, for me
and in my name, place and stead, in any and all capacities as a Trustee of the
Fund, to sign for me and in my name in the appropriate capacity, any and all
Registration Statement on Form N-14 of the Fund, any and all Amendments to
said Registration Statement and any supplements or other instruments in
connection therewith, and generally to do all such things in my name and
behalf in connection therewith as said attorneys-in-fact deem necessary or
appropriate, to comply with the provisions of the Securities Act of 1933, as
amended, and the Investment Company Act of 1940, as amended, and all related
requirements of the Securities and Exchange Commission, hereby ratifying and
confirming all that said attorneys-in-fact or their substitutes may do or
cause to be done by virtue hereof.

  Witness my hand on this 15th day of January, 1996. 

/s/ Irving L. Thode 
- -----------------
    Irving L. Thode
    
            

 
   
                              POWER OF ATTORNEY 
    

   
  KNOW ALL MEN BY THESE PRESENTS, that, the undersigned officer of Mutual Fund
Trust, a Massachusetts business trust, (the "Fund") constitutes and appoints
H. Richard Vartabedian and Fergus Reid, III as my and lawful
attorneys-in-fact, with full power of substitution and resubstitution, for me
and in my name, place and stead, in any and all capacities as an officer of
the Fund, to sign for me and in my name in the appropriate capacity, any and
all Registration Statement on Form N-14 of the Fund, any and all Amendments to
said Registration Statement and any supplements or other instruments in
connection therewith, and generally to do all such things in my name and
behalf in connection therewith as said attorneys-in-fact deem necessary or
appropriate, to comply with the provisions of the Securities Act of 1933, as
amended, and the Investment Company Act of 1940, as amended, and all related
requirements of the Securities and Exchange Commission, hereby ratifying and
confirming all that said attorneys-in-fact or their substitutes may do or
cause to be done by virtue hereof.
    

   
  Witness my hand on this 30th day of January, 1996. 

/s/ Martin R. Dean 
- ------------------
    Martin R. Dean