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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
066 E000900 N
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067 000900 N
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<PAGE> PAGE 43
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<PAGE> PAGE 44
074 R020900 0
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008 A001001 PENN CAPITAL MANAGEMENT COMPANY INC.
008 B001001 A
008 C001001 801-0000
008 D011001 CHERRY HILL
008 D021001 NJ
008 D031001 08034
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<PAGE> PAGE 45
045 001000 Y
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<PAGE> PAGE 46
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070 I021000 N
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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008 A001101 TURNER INVESTMENT PARTNERS
008 B001101 A
008 C001101 801-36220
008 D011101 BERWYN
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<PAGE> PAGE 49
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<PAGE> PAGE 50
060 B001100 Y
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064 A001100 Y
064 B001100 N
066 A001100 N
067 001100 N
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 Y
070 B011100 N
070 B021100 N
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070 D011100 N
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070 F011100 N
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070 H011100 N
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<PAGE> PAGE 51
070 L011100 Y
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<PAGE> PAGE 52
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008 A001201 PENN CAPITAL MANAGEMENT COMPANY INC.
008 B001201 A
008 C001201 801-0000
008 D011201 CHERRY HILL
008 D021201 NJ
008 D031201 08034
024 001200 N
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<PAGE> PAGE 53
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<PAGE> PAGE 54
057 001200 N
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<PAGE> PAGE 55
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<PAGE> PAGE 56
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008 A001301 TURNER INVESTMENT PARTNERS
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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<PAGE> PAGE 61
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008 A001401 TURNER INVESTMENT PARTNERS
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025 B001401 13-2655998
025 C001401 D
025 D001401 318
025 D001402 0
025 D001403 0
025 D001404 0
025 D001405 0
025 D001406 0
025 D001407 0
025 D001408 0
028 A011400 366
028 A021400 27
028 A031400 0
028 A041400 425
028 B011400 533
028 B021400 30
028 B031400 0
028 B041400 202
028 C011400 5069
028 C021400 30
028 C031400 0
028 C041400 276
028 D011400 3477
028 D021400 36
028 D031400 0
028 D041400 2298
028 E011400 6890
028 E021400 53
028 E031400 0
028 E041400 1543
028 F011400 4119
028 F021400 77
028 F031400 0
028 F041400 1108
028 G011400 20454
028 G021400 253
028 G031400 0
028 G041400 5852
028 H001400 0
<PAGE> PAGE 62
045 001400 Y
046 001400 N
047 001400 Y
048 001400 0.250
048 A011400 0
048 A021400 0.000
048 B011400 0
048 B021400 0.000
048 C011400 0
048 C021400 0.000
048 D011400 0
048 D021400 0.000
048 E011400 0
048 E021400 0.000
048 F011400 0
048 F021400 0.000
048 G011400 0
048 G021400 0.000
048 H011400 0
048 H021400 0.000
048 I011400 0
048 I021400 0.000
048 J011400 0
048 J021400 0.000
048 K011400 0
048 K021400 0.000
055 A001400 N
055 B001400 N
056 001400 Y
057 001400 N
058 A001400 N
059 001400 Y
060 A001400 Y
060 B001400 Y
061 001400 5000
062 A001400 Y
062 B001400 0.0
062 C001400 0.0
062 D001400 17.6
062 E001400 0.0
062 F001400 0.0
062 G001400 0.0
062 H001400 0.0
062 I001400 0.0
062 J001400 0.0
062 K001400 0.0
062 L001400 0.0
062 M001400 38.1
062 N001400 36.4
062 O001400 0.0
062 P001400 8.7
<PAGE> PAGE 63
062 Q001400 2.4
062 R001400 0.0
063 A001400 275
063 B001400 0.0
064 A001400 Y
064 B001400 N
066 A001400 N
067 001400 N
068 A001400 N
068 B001400 N
069 001400 N
070 A011400 Y
070 A021400 Y
070 B011400 N
070 B021400 N
070 C011400 Y
070 C021400 N
070 D011400 N
070 D021400 N
070 E011400 Y
070 E021400 N
070 F011400 N
070 F021400 N
070 G011400 Y
070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 N
070 I021400 N
070 J011400 Y
070 J021400 N
070 K011400 Y
070 K021400 N
070 L011400 Y
070 L021400 N
070 M011400 Y
070 M021400 N
070 N011400 Y
070 N021400 N
070 O011400 Y
070 O021400 N
070 P011400 Y
070 P021400 Y
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
071 A001400 11023
071 B001400 3607
071 C001400 4272
071 D001400 93
<PAGE> PAGE 64
072 A001400 6
072 B001400 338
072 C001400 0
072 D001400 0
072 E001400 0
072 F001400 14
072 G001400 33
072 H001400 0
072 I001400 24
072 J001400 3
072 K001400 0
072 L001400 4
072 M001400 0
072 N001400 7
072 O001400 0
072 P001400 0
072 Q001400 0
072 R001400 6
072 S001400 5
072 T001400 0
072 U001400 0
072 V001400 0
072 W001400 0
072 X001400 96
072 Y001400 89
072 Z001400 331
072AA001400 0
072BB001400 9
072CC011400 2
072CC021400 0
072DD011400 166
072DD021400 169
072EE001400 0
073 A011400 0.2961
073 A021400 0.2873
073 B001400 0.0000
073 C001400 0.0000
074 A001400 0
074 B001400 3775
074 C001400 0
074 D001400 18363
074 E001400 0
074 F001400 0
074 G001400 0
074 H001400 0
074 I001400 0
074 J001400 52
074 K001400 0
074 L001400 529
074 M001400 14
074 N001400 22733
<PAGE> PAGE 65
074 O001400 1017
074 P001400 0
074 Q001400 0
074 R011400 0
074 R021400 0
074 R031400 0
074 R041400 266
074 S001400 0
074 T001400 21450
074 U011400 1202
074 U021400 932
074 V011400 10.03
074 V021400 10.09
074 W001400 0.0000
074 X001400 592
074 Y001400 0
075 A001400 0
075 B001400 11463
076 001400 0.00
008 A001501 TURNER INVESTMENT PARTNERS
008 B001501 A
008 C001501 801-36220
008 D011501 BERWYN
008 D021501 PA
008 D031501 19312
008 D041501 2412
024 001500 Y
025 A001501 GOLDMAN SACHS
025 B001501 13-5108880
025 C001501 D
025 D001501 38
025 D001502 0
025 D001503 0
025 D001504 0
025 D001505 0
025 D001506 0
025 D001507 0
025 D001508 0
028 A011500 0
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028 B011500 5
028 B021500 48
028 B031500 0
028 B041500 0
028 C011500 5
028 C021500 47
028 C031500 0
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<PAGE> PAGE 66
028 D021500 50
028 D031500 0
028 D041500 0
028 E011500 2248
028 E021500 50
028 E031500 0
028 E041500 32
028 F011500 11
028 F021500 53
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028 G011500 2269
028 G021500 296
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028 G041500 42
028 H001500 0
045 001500 Y
046 001500 N
047 001500 Y
048 001500 0.500
048 A011500 0
048 A021500 0.000
048 B011500 0
048 B021500 0.000
048 C011500 0
048 C021500 0.000
048 D011500 0
048 D021500 0.000
048 E011500 0
048 E021500 0.000
048 F011500 0
048 F021500 0.000
048 G011500 0
048 G021500 0.000
048 H011500 0
048 H021500 0.000
048 I011500 0
048 I021500 0.000
048 J011500 0
048 J021500 0.000
048 K011500 0
048 K021500 0.000
055 A001500 N
055 B001500 N
056 001500 Y
057 001500 N
058 A001500 N
059 001500 Y
060 A001500 Y
060 B001500 Y
061 001500 2500
<PAGE> PAGE 67
062 A001500 Y
062 B001500 0.0
062 C001500 0.0
062 D001500 2.4
062 E001500 0.0
062 F001500 0.0
062 G001500 0.0
062 H001500 0.0
062 I001500 0.0
062 J001500 0.0
062 K001500 0.0
062 L001500 0.0
062 M001500 42.7
062 N001500 44.9
062 O001500 0.0
062 P001500 2.9
062 Q001500 6.5
062 R001500 0.0
063 A001500 0
063 B001500 8.0
064 A001500 Y
064 B001500 N
066 A001500 N
067 001500 N
068 A001500 N
068 B001500 N
069 001500 N
070 A011500 Y
070 A021500 Y
070 B011500 N
070 B021500 N
070 C011500 Y
070 C021500 N
070 D011500 N
070 D021500 N
070 E011500 Y
070 E021500 N
070 F011500 N
070 F021500 N
070 G011500 Y
070 G021500 N
070 H011500 N
070 H021500 N
070 I011500 N
070 I021500 N
070 J011500 Y
070 J021500 N
070 K011500 Y
070 K021500 N
070 L011500 Y
070 L021500 N
<PAGE> PAGE 68
070 M011500 N
070 M021500 N
070 N011500 Y
070 N021500 N
070 O011500 Y
070 O021500 N
070 P011500 Y
070 P021500 Y
070 Q011500 N
070 Q021500 N
070 R011500 N
070 R021500 N
071 A001500 12351
071 B001500 9632
071 C001500 9085
071 D001500 107
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072 J001500 0
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072 N001500 7
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072 R001500 3
072 S001500 2
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072 V001500 0
072 W001500 2
072 X001500 85
072 Y001500 61
072 Z001500 313
072AA001500 0
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072CC011500 267
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072DD021500 0
072EE001500 0
073 A011500 0.2879
073 A021500 0.0000
<PAGE> PAGE 69
073 B001500 0.0000
073 C001500 0.0000
074 A001500 0
074 B001500 296
074 C001500 0
074 D001500 12168
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074 G001500 0
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074 J001500 11
074 K001500 0
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074 O001500 49
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074 R041500 0
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074 T001500 12543
074 U011500 1271
074 U021500 0
074 V011500 9.87
074 V021500 0.00
074 W001500 0.0000
074 X001500 12
074 Y001500 0
075 A001500 0
075 B001500 10595
076 001500 0.00
008 A001601 TURNER INVESTMENT PARTNERS
008 B001601 A
008 C001601 801-36220
008 D011601 BERWYN
008 D021601 PA
008 D031601 19312
008 D041601 2412
024 001600 N
028 A011600 6533
028 A021600 0
028 A031600 0
028 A041600 410
028 B011600 13332
028 B021600 0
028 B031600 0
028 B041600 2917
<PAGE> PAGE 70
028 C011600 18490
028 C021600 4897
028 C031600 0
028 C041600 3248
028 D011600 20021
028 D021600 0
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028 D041600 8408
028 E011600 24602
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028 E041600 6357
028 F011600 30881
028 F021600 0
028 F031600 0
028 F041600 9212
028 G011600 113859
028 G021600 4897
028 G031600 0
028 G041600 30552
028 H001600 0
045 001600 Y
046 001600 N
047 001600 Y
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048 D011600 0
048 D021600 0.000
048 E011600 0
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048 F011600 0
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048 I011600 0
048 I021600 0.000
048 J011600 0
048 J021600 0.000
048 K011600 0
048 K021600 0.000
055 A001600 N
055 B001600 N
056 001600 Y
057 001600 N
<PAGE> PAGE 71
058 A001600 N
059 001600 Y
060 A001600 Y
060 B001600 Y
061 001600 2500
062 A001600 N
062 B001600 0.0
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062 E001600 0.0
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062 G001600 0.0
062 H001600 0.0
062 I001600 0.0
062 J001600 0.0
062 K001600 0.0
062 L001600 0.0
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062 N001600 0.0
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062 Q001600 0.0
062 R001600 0.0
066 A001600 Y
066 B001600 N
066 C001600 Y
066 D001600 N
066 E001600 N
066 F001600 N
066 G001600 N
067 001600 N
068 A001600 N
068 B001600 N
069 001600 N
070 A011600 Y
070 A021600 Y
070 B011600 Y
070 B021600 N
070 C011600 Y
070 C021600 N
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070 E011600 Y
070 E021600 N
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070 F021600 N
070 G011600 Y
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070 H011600 Y
070 H021600 N
070 I011600 Y
<PAGE> PAGE 72
070 I021600 N
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070 J021600 N
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070 L021600 N
070 M011600 Y
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070 N021600 N
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071 A001600 655014
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<PAGE> PAGE 73
072CC011600 1332
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008 A001701 TURNER INVESTMENT PARTNERS
008 B001701 A
008 C001701 801-36220
008 D011701 BERWYN
008 D021701 PA
008 D031701 19312
008 D041701 2412
024 001700 N
028 A011700 2606
<PAGE> PAGE 74
028 A021700 0
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045 001700 Y
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<PAGE> PAGE 75
048 J021700 0.000
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055 A001700 N
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<PAGE> PAGE 76
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<PAGE> PAGE 77
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074 F001700 90366
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074 V011700 31.62
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SIGNATURE ROBERT DELLACROCE
TITLE CONTROLLER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TURNER FUNDS
<SERIES>
<NUMBER> 010
<NAME> GROWTH EQUITY FUND
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<S> <C>
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<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
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<INVESTMENTS-AT-VALUE> 312810
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<TOTAL-LIABILITIES> 13915
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213064
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<SHARES-COMMON-PRIOR> 8991
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (421)
<ACCUMULATED-NET-GAINS> 34627
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 61156
<NET-ASSETS> 308426
<DIVIDEND-INCOME> 353
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<OTHER-INCOME> 0
<EXPENSES-NET> (942)
<NET-INVESTMENT-INCOME> (421)
<REALIZED-GAINS-CURRENT> 38789
<APPREC-INCREASE-CURRENT> 48333
<NET-CHANGE-FROM-OPS> 86701
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (41205)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 135798
<NUMBER-OF-SHARES-REDEEMED> (55413)
<SHARES-REINVESTED> 39721
<NET-CHANGE-IN-ASSETS> 165602
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 37043
<OVERDISTRIB-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 790
<INTEREST-EXPENSE> 0
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<AVERAGE-NET-ASSETS> 210454
<PER-SHARE-NAV-BEGIN> 15.88
<PER-SHARE-NII> (0.03)
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<PER-SHARE-DISTRIBUTIONS> (4.52)
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<EXPENSE-RATIO> 0.95
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TURNER FUNDS
<SERIES>
<NUMBER> 020
<NAME> SMALL CAP GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 392991
<INVESTMENTS-AT-VALUE> 504970
<RECEIVABLES> 11415
<ASSETS-OTHER> 12
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<TOTAL-ASSETS> 516397
<PAYABLE-FOR-SECURITIES> 678
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1078
<TOTAL-LIABILITIES> 1756
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 307599
<SHARES-COMMON-STOCK> 10664
<SHARES-COMMON-PRIOR> 7429
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1734)
<ACCUMULATED-NET-GAINS> 96797
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 111979
<NET-ASSETS> 514641
<DIVIDEND-INCOME> 268
<INTEREST-INCOME> 373
<OTHER-INCOME> 0
<EXPENSES-NET> (2375)
<NET-INVESTMENT-INCOME> (1734)
<REALIZED-GAINS-CURRENT> 99272
<APPREC-INCREASE-CURRENT> 76898
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<EQUALIZATION> 0
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<NUMBER-OF-SHARES-SOLD> 163036
<NUMBER-OF-SHARES-REDEEMED> (75035)
<SHARES-REINVESTED> 51918
<NET-CHANGE-IN-ASSETS> 260564
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 51316
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1985
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<GROSS-EXPENSE> 2404
<AVERAGE-NET-ASSETS> 395207
<PER-SHARE-NAV-BEGIN> 34.20
<PER-SHARE-NII> (0.16)
<PER-SHARE-GAIN-APPREC> 21.40
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (7.18)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 48.26
<EXPENSE-RATIO> 1.21
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TURNER FUNDS
<SERIES>
<NUMBER> 030
<NAME> MIDCAP GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 653585
<INVESTMENTS-AT-VALUE> 753905
<RECEIVABLES> 49749
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 803664
<PAYABLE-FOR-SECURITIES> 56651
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4055
<TOTAL-LIABILITIES> 60706
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 560826
<SHARES-COMMON-STOCK> 17042
<SHARES-COMMON-PRIOR> 5830
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1001)
<ACCUMULATED-NET-GAINS> 82813
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 100320
<NET-ASSETS> 742958
<DIVIDEND-INCOME> 208
<INTEREST-INCOME> 554
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<EXPENSES-NET> (1757)
<NET-INVESTMENT-INCOME> (995)
<REALIZED-GAINS-CURRENT> 84684
<APPREC-INCREASE-CURRENT> 89061
<NET-CHANGE-FROM-OPS> 172750
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (20897)
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<NUMBER-OF-SHARES-SOLD> 540662
<NUMBER-OF-SHARES-REDEEMED> (118292)
<SHARES-REINVESTED> 19905
<NET-CHANGE-IN-ASSETS> 594128
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 19026
<OVERDISTRIB-NII-PRIOR> (6)
<OVERDIST-NET-GAINS-PRIOR> 0
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1766
<AVERAGE-NET-ASSETS> 389735
<PER-SHARE-NAV-BEGIN> 25.53
<PER-SHARE-NII> (0.06)
<PER-SHARE-GAIN-APPREC> 20.83
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (2.70)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 43.60
<EXPENSE-RATIO> 0.91
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TURNER FUNDS
<SERIES>
<NUMBER> 040
<NAME> LARGE CAP GROWTH EQUITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 41362
<INVESTMENTS-AT-VALUE> 47730
<RECEIVABLES> 1994
<ASSETS-OTHER> 11
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 49735
<PAYABLE-FOR-SECURITIES> 3800
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 306
<TOTAL-LIABILITIES> 4106
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 34045
<SHARES-COMMON-STOCK> 1593
<SHARES-COMMON-PRIOR> 448
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (85)
<ACCUMULATED-NET-GAINS> 5301
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 6368
<NET-ASSETS> 45629
<DIVIDEND-INCOME> 32
<INTEREST-INCOME> 19
<OTHER-INCOME> 0
<EXPENSES-NET> (136)
<NET-INVESTMENT-INCOME> (85)
<REALIZED-GAINS-CURRENT> 5635
<APPREC-INCREASE-CURRENT> 5878
<NET-CHANGE-FROM-OPS> 11428
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1951)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 44032
<NUMBER-OF-SHARES-REDEEMED> (18263)
<SHARES-REINVESTED> 1924
<NET-CHANGE-IN-ASSETS> 37170
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1617
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 139
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 173
<AVERAGE-NET-ASSETS> 27267
<PER-SHARE-NAV-BEGIN> 18.90
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> 11.27
<PER-SHARE-DIVIDEND> 0.00
<PER-SHARE-DISTRIBUTIONS> (1.48)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 28.64
<EXPENSE-RATIO> 1.00
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TIP FUNDS
<SERIES>
<NUMBER> 050
<NAME> CLOVER EQUITY VALUE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 51620
<INVESTMENTS-AT-VALUE> 51620
<RECEIVABLES> 602
<ASSETS-OTHER> 7
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 51869
<PAYABLE-FOR-SECURITIES> 249
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 249
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 41958
<SHARES-COMMON-STOCK> 3498225
<SHARES-COMMON-PRIOR> 3743397
<ACCUMULATED-NII-CURRENT> 1226
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 80
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8356
<NET-ASSETS> 51620
<DIVIDEND-INCOME> 384
<INTEREST-INCOME> 57
<OTHER-INCOME> 0
<EXPENSES-NET> (288)
<NET-INVESTMENT-INCOME> 153
<REALIZED-GAINS-CURRENT> 1868
<APPREC-INCREASE-CURRENT> 6339
<NET-CHANGE-FROM-OPS> 8360
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (153)
<DISTRIBUTIONS-OF-GAINS> (11807)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11922
<NUMBER-OF-SHARES-REDEEMED> (27683)
<SHARES-REINVESTED> 11379
<NET-CHANGE-IN-ASSETS> (7982)
<ACCUMULATED-NII-PRIOR> 80
<ACCUMULATED-GAINS-PRIOR> 11165
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 198
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 288
<AVERAGE-NET-ASSETS> 53510
<PER-SHARE-NAV-BEGIN> 15.92
<PER-SHARE-NII> 0.040
<PER-SHARE-GAIN-APPREC> 2.300
<PER-SHARE-DIVIDEND> (0.040)
<PER-SHARE-DISTRIBUTIONS> (3.460)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 14.76
<EXPENSE-RATIO> 1.080
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TIP FUNDS
<SERIES>
<NUMBER> 060
<NAME> CLOVER SMALL CAP VALUE
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 28998
<INVESTMENTS-AT-VALUE> 29136
<RECEIVABLES> 482
<ASSETS-OTHER> 5
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 29623
<PAYABLE-FOR-SECURITIES> 625
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 625
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 21565
<SHARES-COMMON-STOCK> 1599013
<SHARES-COMMON-PRIOR> 1202969
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (34)
<ACCUMULATED-NET-GAINS> 3100
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4367
<NET-ASSETS> 28998
<DIVIDEND-INCOME> 82
<INTEREST-INCOME> 31
<OTHER-INCOME> 0
<EXPENSES-NET> (147)
<NET-INVESTMENT-INCOME> (34)
<REALIZED-GAINS-CURRENT> 3151
<APPREC-INCREASE-CURRENT> 4299
<NET-CHANGE-FROM-OPS> 7416
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1422)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12938
<NUMBER-OF-SHARES-REDEEMED> (7835)
<SHARES-REINVESTED> 1407
<NET-CHANGE-IN-ASSETS> 12504
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1371
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 91
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 157
<AVERAGE-NET-ASSETS> 21346
<PER-SHARE-NAV-BEGIN> 13.71
<PER-SHARE-NII> (0.020)
<PER-SHARE-GAIN-APPREC> 5.680
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.240)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 18.13
<EXPENSE-RATIO> 1.380
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TIP FUNDS
<SERIES>
<NUMBER> 070
<NAME> CLOVER FIXED INCOME FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 33411
<INVESTMENTS-AT-VALUE> 32928
<RECEIVABLES> 656
<ASSETS-OTHER> 6
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 33590
<PAYABLE-FOR-SECURITIES> 179
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 179
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 34495
<SHARES-COMMON-STOCK> 3521468
<SHARES-COMMON-PRIOR> 3443525
<ACCUMULATED-NII-CURRENT> 7
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (303)
<ACCUM-APPREC-OR-DEPREC> (788)
<NET-ASSETS> 33411
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1061
<OTHER-INCOME> 0
<EXPENSES-NET> (123)
<NET-INVESTMENT-INCOME> 938
<REALIZED-GAINS-CURRENT> (140)
<APPREC-INCREASE-CURRENT> 92
<NET-CHANGE-FROM-OPS> 890
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (938)
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 5464
<NUMBER-OF-SHARES-REDEEMED> (5627)
<SHARES-REINVESTED> 893
<NET-CHANGE-IN-ASSETS> 682
<ACCUMULATED-NII-PRIOR> 7
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (163)
<GROSS-ADVISORY-FEES> 74
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 163
<AVERAGE-NET-ASSETS> 32854
<PER-SHARE-NAV-BEGIN> 9.50
<PER-SHARE-NII> 0.270
<PER-SHARE-GAIN-APPREC> (0.010)
<PER-SHARE-DIVIDEND> (0.270)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 9.49
<EXPENSE-RATIO> 0.750
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TIP FUNDS
<SERIES>
<NUMBER> 080
<NAME> CLOVER MAX CAP
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 4595
<INVESTMENTS-AT-VALUE> 4574
<RECEIVABLES> 298
<ASSETS-OTHER> 31
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4903
<PAYABLE-FOR-SECURITIES> 308
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 308
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4146
<SHARES-COMMON-STOCK> 381682
<SHARES-COMMON-PRIOR> 238415
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2)
<ACCUMULATED-NET-GAINS> 266
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 451
<NET-ASSETS> 4595
<DIVIDEND-INCOME> 30
<INTEREST-INCOME> 5
<OTHER-INCOME> 0
<EXPENSES-NET> (17)
<NET-INVESTMENT-INCOME> 18
<REALIZED-GAINS-CURRENT> 6
<APPREC-INCREASE-CURRENT> 502
<NET-CHANGE-FROM-OPS> 526
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (18)
<DISTRIBUTIONS-OF-GAINS> (274)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1879
<NUMBER-OF-SHARES-REDEEMED> (534)
<SHARES-REINVESTED> 291
<NET-CHANGE-IN-ASSETS> 1870
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 266
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 13
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 72
<AVERAGE-NET-ASSETS> 3499
<PER-SHARE-NAV-BEGIN> 11.43
<PER-SHARE-NII> 0.050
<PER-SHARE-GAIN-APPREC> 1.650
<PER-SHARE-DIVIDEND> (0.050)
<PER-SHARE-DISTRIBUTIONS> (1.040)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.04
<EXPENSE-RATIO> 0.950
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TIP FUNDS
<SERIES>
<NUMBER> 090
<NAME> TIP TARGET SELECT EQUITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 3365
<INVESTMENTS-AT-VALUE> 4065
<RECEIVABLES> 116
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4195
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 137
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2554
<SHARES-COMMON-STOCK> 182
<SHARES-COMMON-PRIOR> 107
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (7)
<ACCUMULATED-NET-GAINS> 812
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 699
<NET-ASSETS> 4058
<DIVIDEND-INCOME> 12
<INTEREST-INCOME> 2
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<EXPENSES-NET> (18)
<NET-INVESTMENT-INCOME> (4)
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<NUMBER-OF-SHARES-REDEEMED> (750)
<SHARES-REINVESTED> 624
<NET-CHANGE-IN-ASSETS> 2219
<ACCUMULATED-NII-PRIOR> 0
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<OVERDISTRIB-NII-PRIOR> (3)
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 83
<AVERAGE-NET-ASSETS> 2813
<PER-SHARE-NAV-BEGIN> 17.17
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 11.10
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (6.01)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.25
<EXPENSE-RATIO> 1.3
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TIP FUNDS
<SERIES>
<NUMBER> 100
<NAME> PENN CAPITAL SELECT
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
<INVESTMENTS-AT-COST> 339
<INVESTMENTS-AT-VALUE> 335
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 339
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 373
<SHARES-COMMON-STOCK> 35247
<SHARES-COMMON-PRIOR> 28355
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (32)
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (2)
<NET-ASSETS> 339
<DIVIDEND-INCOME> 5
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<EXPENSES-NET> (2)
<NET-INVESTMENT-INCOME> 3
<REALIZED-GAINS-CURRENT> (12)
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<NET-CHANGE-FROM-OPS> (3)
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<DISTRIBUTIONS-OF-INCOME> (9)
<DISTRIBUTIONS-OF-GAINS> (15)
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<NUMBER-OF-SHARES-SOLD> 65
<NUMBER-OF-SHARES-REDEEMED> (28)
<SHARES-REINVESTED> 24
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<ACCUMULATED-NII-PRIOR> 6
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<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (5)
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<GROSS-EXPENSE> 61
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<PER-SHARE-NAV-BEGIN> 10.74
<PER-SHARE-NII> 0.110
<PER-SHARE-GAIN-APPREC> (0.390)
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<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> (0.520)
<PER-SHARE-NAV-END> 9.63
<EXPENSE-RATIO> 1.400
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001006783
<NAME> TURNER FUNDS
<SERIES>
<NUMBER> 110
<NAME> SHORT DURATION GOVERNMENT FUNDS-THREE YEAR PORTFOLIO CLASS I
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-2000
<PERIOD-START> OCT-01-1999
<PERIOD-END> MAR-31-2000
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<TOTAL-LIABILITIES> 86
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 48229
<SHARES-COMMON-STOCK> 4129
<SHARES-COMMON-PRIOR> 3933
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<OVERDISTRIBUTION-GAINS> (352)
<ACCUM-APPREC-OR-DEPREC> (237)
<NET-ASSETS> 47589
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<NET-INVESTMENT-INCOME> 1239
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<NUMBER-OF-SHARES-REDEEMED> (4397)
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<NAME> TURNER FUNDS
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<TABLE> <S> <C>
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<CIK> 0001006783
<NAME> TIP FUNDS
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<NAME> PENN CAPITAL HIGH YIELD BOND FUND
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<NAME> TURNER FUNDS
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<NAME> MICRO CAP GROWTH FUND
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<NAME> TURNER FUNDS
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<NUMBER> 140
<NAME> SHORT DURATION GOVERNMENT FUNDS-ONE YEAR PORTFOLIO CLASS I
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<CIK> 0001006783
<NAME> TURNER FUNDS
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<NAME> SHORT DURATION GOVERNMENT FUNDS-ONE YEAR PORTFOLIO CLASS II
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<CIK> 0001006783
<NAME> TURNER FUNDS
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<NAME> CORE HIGH QUALITY FIXED INCOME FUND
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<CIK> 0001006783
<NAME> TURNER FUNDS
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<NAME> TOP 20 FUND
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<NAME> TURNER FUNDS
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