On N=8 Supergravity on $AdS_5$ and N=4 Superconformal Yang-Mills theory

We discuss the spectrum of states of IIB supergravity on $AdS_5\times S^5$ in a manifest $SU(2,2/4)$ invariant setting. The boundary fields are described in terms of N=4 superconformal Yang-Mills theory and the proposed correspondence between supergravity in $AdS_5$ and superconformal invariant singleton theory at the boundary is formulated in an N=4 superfield covariant language.