<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information
extracted from Merrimac Cash Fund Institutional Class,
form N-SAR for the period ended June 30, 2000
and is qualified in its entirety by reference to
such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 012
<NAME> Merrimac Cash Fund Institutional Class
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-2000
<PERIOD-END> JUN-30-2000
<INVESTMENTS-AT-COST> 657,359,770
<INVESTMENTS-AT-VALUE> 657,359,770
<RECEIVABLES> 0
<ASSETS-OTHER> 12,268
<OTHER-ITEMS-ASSETS> 19,124
<TOTAL-ASSETS> 657,391,162
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 4,115,741
<TOTAL-LIABILITIES> 4,115,741
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 653,408,264
<SHARES-COMMON-STOCK> 273,310
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (980)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 273,310
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 49,712
<OTHER-INCOME> 0
<EXPENSES-NET> 3,698
<NET-INVESTMENT-INCOME> 46,014
<REALIZED-GAINS-CURRENT> 33
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 46,047
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (46,014)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 958,934
<NUMBER-OF-SHARES-REDEEMED> 4,437,552
<SHARES-REINVESTED> 63,242
<NET-CHANGE-IN-ASSETS> (3,415,376)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 795,474
<AVERAGE-NET-ASSETS> 1,634,677
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0.00
<PER-SHARE-DIVIDEND> (0.03)
<PER-SHARE-DISTRIBUTIONS> 0.00
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.46
</TABLE>
