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SIGNATURE RITA DAM
TITLE ASSISTANT TREASURER
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<PER-SHARE-NII> 0.04
<PER-SHARE-GAIN-APPREC> 3.48
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 13.52
<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001019946
<NAME> PURISIMA FUNDS
<SERIES>
<NUMBER> 1
<NAME> PURISIMA TOTAL RETURN FUND
<MULTIPLIER> 1000
<CURRENCY> US DOLLARS
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1999
<PERIOD-START> SEP-01-1998
<PERIOD-END> AUG-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 44784
<INVESTMENTS-AT-VALUE> 53224
<RECEIVABLES> 41
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 80
<TOTAL-ASSETS> 53345
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 146
<TOTAL-LIABILITIES> 146
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 44888
<SHARES-COMMON-STOCK> 3047
<SHARES-COMMON-PRIOR> 1722
<ACCUMULATED-NII-CURRENT> 16
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (145)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8440
<NET-ASSETS> 53199
<DIVIDEND-INCOME> 548
<INTEREST-INCOME> 17
<OTHER-INCOME> 0
<EXPENSES-NET> 567
<NET-INVESTMENT-INCOME> (2)
<REALIZED-GAINS-CURRENT> (48)
<APPREC-INCREASE-CURRENT> 10182
<NET-CHANGE-FROM-OPS> 10132
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1751
<NUMBER-OF-SHARES-REDEEMED> 427
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 31721
<ACCUMULATED-NII-PRIOR> 25
<ACCUMULATED-GAINS-PRIOR> (96)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 378
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 690
<AVERAGE-NET-ASSETS> 37867
<PER-SHARE-NAV-BEGIN> 12.47
<PER-SHARE-NII> (0.01)
<PER-SHARE-GAIN-APPREC> 5.00
<PER-SHARE-DIVIDEND> 0
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<PER-SHARE-NAV-END> 17.46
<EXPENSE-RATIO> 1.50
</TABLE>
To the Shareholders and
Board of Trustees of the
Purisima Funds
October 13, 1999
In planning and performing our audits of the
financial statements of the Purisima Total Return
Fund, the
Purisima Pure American Fund, and the Purisima Pure
Foreign Fund (collectively the "Purisima Funds")
for the period ended August 31, 1999, we considered
its internal control, including control activities for
safeguarding securities, in order to determine our
auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply
with the requirements of Form N-SAR, not to provide
assurance on internal control.
The management of the Purisima Funds is
responsible for establishing and maintaining internal
control. In fulfilling this responsibility, estimates
and judgments by management are required to
assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an
audit pertain to the entity's objective of preparing
financial statements for external purposes that are
fairly presented in conformity with generally
accepted accounting principles. Those control
activities
include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control,
errors or fraud may occur and not be detected.
Also, projection of any evaluation of internal control
to future periods is subject to the risk that it may
become inadequate because of changes in conditions
or that the effectiveness of the design and
operation may deteriorate.
Our consideration of internal control would not
necessarily disclose all matters in internal control that
might be material weaknesses under standards
established by the American Institute of Certified
Public
Accountants. A material weakness is a condition in
which the design or operation of one or more of the
internal control components does not reduce to a
relatively low level the risk that misstatements caused
by error or fraud in amounts that would be material
in relation to the financial statements being audited
may occur and not be detected within a timely period
by employees in the normal course of performing
their assigned functions. However, we noted no
matters involving internal control and its operation,
including controls for safeguarding securities, that we
consider to be material weaknesses as defined above
as of August 31, 1999.
This report is intended solely for the information and
use of management and the Board of Trustees of
the Purisima Funds and the Securities and Exchange
Commission and is not intended to be and should
not be used by anyone other than these specified
parties.
PRICEWATERHOUSECOOPERS LLP
Los Angeles, California
