FIRST CHOICE FUNDS TRUST
NSAR-A, 1997-05-29
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<PAGE>      PAGE  1
000 A000000 03/31/97
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<PAGE>      PAGE  2
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
066 A000100 N
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070 D020100 N
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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SIGNATURE   JEFF STARRICK                                
TITLE       FINANCIAL ANALYST   
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001017176
<NAME> FIRST CHOICE FUNDS TRUST
<SERIES>
   <NUMBER> 011
   <NAME> THE FIRST CHOICE U.S. TREASURY RESERVE FUND
       
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001017176
<NAME> FIRST CHOICE FUNDS TRUST
<SERIES>
   <NUMBER> 012
   <NAME> THE FIRST CHOICE U.S. TREASURY RESERVE FUND
       
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001017176
<NAME> FIRST CHOICE FUNDS TRUST
<SERIES>
   <NUMBER> 021
   <NAME> THE FIRST CHOICE CASH RESERVE FUND
       
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<F1>Class A Shares
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001017176
<NAME> FIRST CHOICE FUNDS TRUST
<SERIES>
   <NUMBER> 022
   <NAME> THE FIRST CHOICE CASH RESERVE FUND
       
<S>                             <C>
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<FISCAL-YEAR-END>                          SEP-30-1997
<PERIOD-START>                             JAN-13-1997
<PERIOD-END>                               MAR-31-1997
<INVESTMENTS-AT-COST>                         38043607
<INVESTMENTS-AT-VALUE>                        38043607
<RECEIVABLES>                                    14332
<ASSETS-OTHER>                                   77749
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                38137641
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                       190422
<TOTAL-LIABILITIES>                             190422
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      37947499
<SHARES-COMMON-STOCK>                             1007<F2>
<SHARES-COMMON-PRIOR>                                0<F2>
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                           280
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                  37947219
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                               458120
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   29738
<NET-INVESTMENT-INCOME>                         428382
<REALIZED-GAINS-CURRENT>                         (280)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                           428102
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                           11<F2>
<DISTRIBUTIONS-OF-GAINS>                             0<F2>
<DISTRIBUTIONS-OTHER>                                0<F2>
<NUMBER-OF-SHARES-SOLD>                       72806494
<NUMBER-OF-SHARES-REDEEMED>                   34859320
<SHARES-REINVESTED>                                325
<NET-CHANGE-IN-ASSETS>                        37947499
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                            25490
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 124787
<AVERAGE-NET-ASSETS>                              1004<F2>
<PER-SHARE-NAV-BEGIN>                            1.000<F2>
<PER-SHARE-NII>                                   .011<F2>
<PER-SHARE-GAIN-APPREC>                           .000<F2>
<PER-SHARE-DIVIDEND>                              .011<F2>
<PER-SHARE-DISTRIBUTIONS>                         .000<F2>
<RETURNS-OF-CAPITAL>                              .000<F2>
<PER-SHARE-NAV-END>                              1.000<F2>
<EXPENSE-RATIO>                                   .350<F2>
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
<FN>
<F1>Class A Shares
</FN>
        

</TABLE>


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