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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
070 G020400 N
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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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SIGNATURE KATHY THREN
TITLE COUNSEL
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<NAME> PACIFIC INNOVATIONS TRUST
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<NAME> MONEY MARKET FUND
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<NAME> PACIFIC INNOVATIONS TRUST
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<CIK> 0001024923
<NAME> PACIFIC INNOVATIONS TRUST
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<NAME> PACIFIC INNOVATIONS TRUST
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