WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001097904
<NAME> LEND LEASE FUNDS
<SERIES>
<NUMBER> 1
<NAME> LEND LEASE U.S. REAL ESTATE SECURITIES FUND
<MULTIPLIER> 1
<S> <C> <C>
<PERIOD-TYPE> 6-MOS 6-MOS
<FISCAL-YEAR-END> JAN-31-2001 JAN-31-2001
<PERIOD-START> FEB-16-2000 FEB-16-2000
<PERIOD-END> JUL-31-2000 JUL-31-2000
<INVESTMENTS-AT-COST> 1,107,379 1,107,379
<INVESTMENTS-AT-VALUE> 1,358,670 1,358,670
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<ASSETS-OTHER> 55,643 55,643
<OTHER-ITEMS-ASSETS> 0 0
<TOTAL-ASSETS> 1,414,313 1,414,313
<PAYABLE-FOR-SECURITIES> 0 0
<SENIOR-LONG-TERM-DEBT> 0 0
<OTHER-ITEMS-LIABILITIES> 60,298 60,298
<TOTAL-LIABILITIES> 60,298 60,298
<SENIOR-EQUITY> 0 0
<PAID-IN-CAPITAL-COMMON> 1,080,823 1,080,823
<SHARES-COMMON-STOCK> 54,710 52,630
<SHARES-COMMON-PRIOR> 10,000 10,000
<ACCUMULATED-NII-CURRENT> 0 0
<OVERDISTRIBUTION-NII> 0 0
<ACCUMULATED-NET-GAINS> 18,359 18,359
<OVERDISTRIBUTION-GAINS> 0 0
<ACCUM-APPREC-OR-DEPREC> 251,291 251,291
<NET-ASSETS> 1,354,015 1,354,015
<DIVIDEND-INCOME> 35,010 35,010
<INTEREST-INCOME> 751 751
<OTHER-INCOME> 0 0
<EXPENSES-NET> 5,862 5,862
<NET-INVESTMENT-INCOME> 29,899 29,899
<REALIZED-GAINS-CURRENT> 15,639 15,639
<APPREC-INCREASE-CURRENT> 251,291 251,291
<NET-CHANGE-FROM-OPS> 296,829 296,829
<EQUALIZATION> 0 0
<DISTRIBUTIONS-OF-INCOME> 0 0
<DISTRIBUTIONS-OF-GAINS> 0 0
<DISTRIBUTIONS-OTHER> 0 0
<NUMBER-OF-SHARES-SOLD> 48,700 46,595
<NUMBER-OF-SHARES-REDEEMED> 0 0
<SHARES-REINVESTED> 1010 1035
<NET-CHANGE-IN-ASSETS> 1,254,015 1,254,015
<ACCUMULATED-NII-PRIOR> 0 0
<ACCUMULATED-GAINS-PRIOR> 0 0
<OVERDISTRIB-NII-PRIOR> 0 0
<OVERDIST-NET-GAINS-PRIOR> 0 0
<GROSS-ADVISORY-FEES> 4,221 4,221
<INTEREST-EXPENSE> 0 0
<GROSS-EXPENSE> 130,181 130,181
<AVERAGE-NET-ASSETS> 511,719 502,409
<PER-SHARE-NAV-BEGIN> 10.00 10.00
<PER-SHARE-NII> 0.28 0.29
<PER-SHARE-GAIN-APPREC> 2.56 2.55
<PER-SHARE-DIVIDEND> (0.22) (0.23)
<PER-SHARE-DISTRIBUTIONS> 0 0
<RETURNS-OF-CAPITAL> 0 0
<PER-SHARE-NAV-END> 12.62 12.61
<EXPENSE-RATIO> 1.25 0.97
</TABLE>
