<PAGE> PAGE 1
000 A000000 10/31/98
000 C000000 0001060517
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001 A000000 MITCHELL HUTCHINS INSTITUTIONAL SERIES
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022 A000001 GOLDMAN SACHS & COMPANY
022 B000001 13-5108880
022 C000001 1032762
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022 A000002 MORGAN (J.P.) SECURITIES,INC
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<PAGE> PAGE 2
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022 A000003 MERRILL LYNCH, PIERCE FENNER & SMITH, INC
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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SIGNATURE PAUL SCHUBERT
TITLE TREASURER
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
Exhibit 77H.
The Fund commenced operations on August 10, 1998.
Mitchell Hutchins Asset Management Inc. provided
the statutory $100,000 Seed capital for the Fund.
Since Mitchell Hutchins owned all shares
issued by the Fund immediately prior to the
public commencement of sales of shares,
it may be deemed to have controlled the Fund
until August 10, 1998.
</TABLE>
[ARTICLE] 6
[CIK] 0001060517
[NAME] MITCHELL HUTCHINS INSTITUTIONAL SERIES
[SERIES]
[NUMBER] 01
[NAME] MITCHELL HUTCHINS LIR SELECT MONEY FUND
[MULTIPLIER] 1,000
<TABLE>
<S> <C>
[PERIOD-TYPE] 06-MOS
[FISCAL-YEAR-END] APR-30-1999
[PERIOD-START] AUG-10-1998
[PERIOD-END] OCT-31-1998
[INVESTMENTS-AT-COST] 510,061
[INVESTMENTS-AT-VALUE] 510,061
[RECEIVABLES] 97,952
[ASSETS-OTHER] 265
[OTHER-ITEMS-ASSETS] 0
[TOTAL-ASSETS] 608,278
[PAYABLE-FOR-SECURITIES] 20,000
[SENIOR-LONG-TERM-DEBT] 0
[OTHER-ITEMS-LIABILITIES] 79,989
[TOTAL-LIABILITIES] 99,989
[SENIOR-EQUITY] 0
[PAID-IN-CAPITAL-COMMON] 508,289
[SHARES-COMMON-STOCK] 508,289
[SHARES-COMMON-PRIOR] 0
[ACCUMULATED-NII-CURRENT] 0
[OVERDISTRIBUTION-NII] 0
[ACCUMULATED-NET-GAINS] 0
[OVERDISTRIBUTION-GAINS] 0
[ACCUM-APPREC-OR-DEPREC] 0
[NET-ASSETS] 508,289
[DIVIDEND-INCOME] 0
[INTEREST-INCOME] 5,501
[OTHER-INCOME] 0
[EXPENSES-NET] 35
[NET-INVESTMENT-INCOME] 5,466
[REALIZED-GAINS-CURRENT] 0
[APPREC-INCREASE-CURRENT] 0
[NET-CHANGE-FROM-OPS] 5,466
[EQUALIZATION] 0
[DISTRIBUTIONS-OF-INCOME] (5,466)
[DISTRIBUTIONS-OF-GAINS] 0
[DISTRIBUTIONS-OTHER] 0
[NUMBER-OF-SHARES-SOLD] 2,046,695
[NUMBER-OF-SHARES-REDEEMED] (1,540,946)
[SHARES-REINVESTED] 2,440
[NET-CHANGE-IN-ASSETS] 508,189
[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] 35
[AVERAGE-NET-ASSETS] 435585
[PER-SHARE-NAV-BEGIN] 1.00
[PER-SHARE-NII] 0.013
[PER-SHARE-GAIN-APPREC] 0
[PER-SHARE-DIVIDEND] (0.013)
[PER-SHARE-DISTRIBUTIONS] 0
[RETURNS-OF-CAPITAL] 0
[PER-SHARE-NAV-END] 1.00
[EXPENSE-RATIO] 0.03
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
