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<PAGE> PAGE 13
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<PAGE> PAGE 21
028 D020400 0
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028 F040400 454
028 G010400 644
028 G020400 3128
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032 000400 0
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035 000400 0
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037 000400 N
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040 000400 N
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046 000400 N
047 000400 Y
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<PAGE> PAGE 22
048 I010400 0
048 I020400 0.000
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048 J020400 0.000
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048 K020400 0.000
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050 000400 N
051 000400 N
052 000400 N
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053 B000400 Y
053 C000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
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062 O000400 0.0
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062 Q000400 0.0
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066 A000400 Y
066 B000400 N
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066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 Y
<PAGE> PAGE 23
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 N
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 20242
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<PAGE> PAGE 24
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<PAGE> PAGE 25
076 000400 0.00
008 A000501 BANK OF AMERICA
008 B000501 A
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008 D010501 SAN FRANCISCO
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015 A000501 PNC BANK NA
015 B000501 C
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<PAGE> PAGE 26
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<PAGE> PAGE 27
052 000500 N
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067 000500 N
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069 000500 N
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070 C020500 N
070 D010500 Y
070 D020500 N
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070 E020500 N
070 F010500 Y
070 F020500 N
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070 G020500 N
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<PAGE> PAGE 28
070 I010500 N
070 I020500 N
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070 J020500 N
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070 M010500 N
070 M020500 N
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070 N020500 N
070 O010500 N
070 O020500 N
070 P010500 N
070 P020500 N
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<PAGE> PAGE 29
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<PAGE> PAGE 30
015 C010601 LESTER
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<PAGE> PAGE 31
031 B000600 0
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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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008 A000701 BANK OF AMERICA
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008 D030702 02109
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015 C030701 11201
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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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SIGNATURE MARY JANE MALONEY
TITLE MANAGER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001024923
<NAME> PACIFIC INNOVATIONS TRUST
<SERIES>
<NUMBER> 01
<NAME> MONEY MARKET FUND
<S> <C>
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<PERIOD-END> DEC-31-1999
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<INVESTMENTS-AT-VALUE> 6124264
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<TOTAL-ASSETS> 6154534
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 10213
<TOTAL-LIABILITIES> 10213
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 6144321
<SHARES-COMMON-STOCK> 6144321
<SHARES-COMMON-PRIOR> 6780242
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 6144321
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 325636
<OTHER-INCOME> 0
<EXPENSES-NET> (37974)
<NET-INVESTMENT-INCOME> 287662
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 287662
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (287662)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 378758
<NUMBER-OF-SHARES-REDEEMED> (1303194)
<SHARES-REINVESTED> 288515
<NET-CHANGE-IN-ASSETS> (635921)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 86500
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<TABLE> <S> <C>
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<CIK> 0001024923
<NAME> PACIFIC INNOVATIONS TRUST
<SERIES>
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<NAME> MANAGED BOND FUND
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<TABLE> <S> <C>
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<CIK> 0001024923
<NAME> PACIFIC INNOVATIONS TRUST
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</TABLE>
<TABLE> <S> <C>
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<CIK> 0001024923
<NAME> PACIFIC INNOVATIONS TRUST
<SERIES>
<NUMBER> 04
<NAME> BLUE CHIP FUND
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001024923
<NAME> PACIFIC INNOVATIONS TRUST
<SERIES>
<NUMBER> 05
<NAME> MID-CAP EQUITY FUND
<S> <C>
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<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
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<NUMBER-OF-SHARES-REDEEMED> (982978)
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<ACCUMULATED-NII-PRIOR> 25
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<PER-SHARE-DISTRIBUTIONS> (2.10)
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<EXPENSE-RATIO> 0.94
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001024923
<NAME> PACIFIC INNOVATIONS TRUST
<SERIES>
<NUMBER> 06
<NAME> AGGRESSIVE GROWTH FUND
<S> <C>
<PERIOD-TYPE> YEAR
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 9221410
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<TOTAL-LIABILITIES> 12974
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10310163
<SHARES-COMMON-STOCK> 976778
<SHARES-COMMON-PRIOR> 1049892
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> (1085400)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1499404
<NET-ASSETS> 10724167
<DIVIDEND-INCOME> 68450
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<OTHER-INCOME> 0
<EXPENSES-NET> (105770)
<NET-INVESTMENT-INCOME> (26401)
<REALIZED-GAINS-CURRENT> (626640)
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<NUMBER-OF-SHARES-REDEEMED> (1099837)
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001024923
<NAME> PACIFIC INNOVATIONS TRUST
<SERIES>
<NUMBER> 07
<NAME> INTERNATIONAL FUND
<S> <C>
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<PERIOD-END> DEC-31-1999
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<TOTAL-ASSETS> 14849420
<PAYABLE-FOR-SECURITIES> 23112
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<OTHER-ITEMS-LIABILITIES> 85844
<TOTAL-LIABILITIES> 108956
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 11010367
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<SHARES-COMMON-PRIOR> 1023455
<ACCUMULATED-NII-CURRENT> (20686)
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<ACCUMULATED-NET-GAINS> (40127)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 3790910
<NET-ASSETS> 14740464
<DIVIDEND-INCOME> 203596
<INTEREST-INCOME> 32611
<OTHER-INCOME> 0
<EXPENSES-NET> (149877)
<NET-INVESTMENT-INCOME> 86330
<REALIZED-GAINS-CURRENT> 1639374
<APPREC-INCREASE-CURRENT> 2639880
<NET-CHANGE-FROM-OPS> 4365584
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (50986)
<DISTRIBUTIONS-OF-GAINS> (1054595)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 205409
<NUMBER-OF-SHARES-REDEEMED> (903548)
<SHARES-REINVESTED> 1105581
<NET-CHANGE-IN-ASSETS> 3667445
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> (675448)
<OVERDISTRIB-NII-PRIOR> (5488)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 77356
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 268439
<AVERAGE-NET-ASSETS> 12086805
<PER-SHARE-NAV-BEGIN> 10.82
<PER-SHARE-NII> 0.09
<PER-SHARE-GAIN-APPREC> 4.28
<PER-SHARE-DIVIDEND> (0.05)
<PER-SHARE-DISTRIBUTIONS> (1.09)
<RETURNS-OF-CAPITAL> 0
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<EXPENSE-RATIO> 1.24
</TABLE>
EXHIBIT INDEX
Exhibit A: Attachment to item 77B:
Accountants report on internal control
- -------------------------------------------------------
Exhibit A:
Report of Independent Accountants
To the Board of Trustees and Shareholders
of Pacific Innovations Trust
In planning and performing our audit of the financial
statements of the Pacific Innovations Trust (the "Trust") for
the year ended December 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 Trust 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 controls 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
December 31, 1999.
This report is intended solely for the information and use of
management and the Board of Trustees of the Trust 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
February 17, 2000
