PILGRIM INVESTMENT FUNDS INC/MD
N-14, EX-99.14, 2000-11-28
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                                                                      Exhibit 14

                          INDEPENDENT AUDITORS' CONSENT


The Boards of Directors
Pilgrim Investment Funds, Inc. and Pilgrim Advisory Funds, Inc:

We consent to the use of our report, as it relates to the Pilgrim MagnaCap Fund,
Pilgrim  LargeCap  Leaders  Fund,  and Pilgrim  MidCap Value Fund,  incorporated
herein  by  reference  and to  the  reference  to our  firm  under  the  heading
"Financial Highlights" in the proxy statement/prospectus.

                                                 /s/ KPMG LLP

Los Angeles, California
November 27, 2000


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