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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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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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<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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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
048 B020800 0.000
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050 000800 N
051 000800 N
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<PAGE> PAGE 43
066 C000800 N
066 D000800 Y
066 E000800 N
066 F000800 N
066 G000800 N
067 000800 N
068 A000800 N
068 B000800 Y
069 000800 N
070 A010800 Y
070 A020800 N
070 B010800 Y
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 Y
070 D020800 N
070 E010800 N
070 E020800 N
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 N
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 Y
070 L020800 Y
070 M010800 Y
070 M020800 Y
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 N
070 Q020800 N
070 R010800 N
070 R020800 N
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<PAGE> PAGE 44
072 C000800 7471
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<PAGE> PAGE 45
074 Q000800 0
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008 A000901 BOATMEN'S TRUST COMPANY
008 B000901 A
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008 D010901 ST LOUIS
008 D020901 MO
008 D030901 63178
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012 A000901 BISYS FUND SERVICES
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012 C020901 PA
012 C030901 15222
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012 B000902 84-0000000
012 C010902 QUINCY
012 C020902 MA
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012 C040902 9110
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<PAGE> PAGE 46
028 B040900 58710
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<PAGE> PAGE 47
048 000900 0.200
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050 000900 N
051 000900 N
052 000900 N
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053 C000900 N
058 A000900 N
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<PAGE> PAGE 48
062 Q000900 0.0
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068 A000900 N
068 B000900 N
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070 A020900 N
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070 B020900 N
070 C010900 N
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 Y
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
070 O010900 Y
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
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<PAGE> PAGE 49
072 A000900 12
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<PAGE> PAGE 50
074 O000900 8045
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008 A001001 BOATMEN'S TRUST COMPANY
008 B001001 A
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008 D011001 ST LOUIS
008 D021001 MO
008 D031001 63178
008 D041001 4737
012 A001001 BISYS FUND SERVICES
012 B001001 84-0000000
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012 B001002 84-0000000
012 C011002 QUINCY
012 C021002 MA
012 C031002 02669
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<PAGE> PAGE 51
028 B021000 8
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<PAGE> PAGE 52
045 001000 Y
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<PAGE> PAGE 53
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070 E021000 N
070 F011000 Y
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070 G021000 N
070 H011000 Y
070 H021000 N
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070 I021000 N
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070 K021000 N
070 L011000 Y
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070 M021000 N
070 N011000 Y
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<PAGE> PAGE 54
070 Q021000 N
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<PAGE> PAGE 55
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008 A001101 BOATMEN'S TRUST COMPANY
008 B001101 A
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008 D021101 MO
008 D031101 63178
008 D041101 4737
012 A001101 BISYS FUND SERVICES
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012 C011101 PITTSBURGH
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012 B001102 84-0000000
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024 001100 N
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
070 P021100 N
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<PAGE> PAGE 60
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008 A001201 BOATMEN'S TRUST COMPANY
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<PAGE> PAGE 61
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029 001200 Y
030 A001200 43
030 B001200 4.50
030 C001200 0.00
031 A001200 5
031 B001200 0
032 001200 38
033 001200 0
034 001200 Y
035 001200 0
036 A001200 N
036 B001200 0
037 001200 N
038 001200 0
039 001200 N
040 001200 Y
041 001200 Y
042 A001200 0
042 B001200 0
<PAGE> PAGE 62
042 C001200 0
042 D001200 100
042 E001200 0
042 F001200 0
042 G001200 0
042 H001200 0
043 001200 8
044 001200 0
045 001200 Y
046 001200 N
047 001200 Y
048 001200 1.000
048 A011200 0
048 A021200 0.000
048 B011200 0
048 B021200 0.000
048 C011200 0
048 C021200 0.000
048 D011200 0
048 D021200 0.000
048 E011200 0
048 E021200 0.000
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 0
048 K021200 0.000
049 001200 N
050 001200 N
051 001200 N
052 001200 N
053 A001200 Y
053 B001200 Y
053 C001200 N
058 A001200 N
059 001200 Y
060 A001200 Y
060 B001200 Y
061 001200 1000
062 A001200 N
062 B001200 0.0
062 C001200 0.0
062 D001200 0.0
062 E001200 0.0
<PAGE> PAGE 63
062 F001200 0.0
062 G001200 0.0
062 H001200 0.0
062 I001200 0.0
062 J001200 0.0
062 K001200 0.0
062 L001200 0.0
062 M001200 0.0
062 N001200 0.0
062 O001200 0.0
062 P001200 0.0
062 Q001200 0.0
062 R001200 0.0
063 A001200 0
063 B001200 0.0
066 A001200 Y
066 B001200 N
066 C001200 N
066 D001200 N
066 E001200 N
066 F001200 Y
066 G001200 N
067 001200 N
068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 Y
070 B011200 Y
070 B021200 N
070 C011200 Y
070 C021200 N
070 D011200 Y
070 D021200 N
070 E011200 N
070 E021200 N
070 F011200 N
070 F021200 N
070 G011200 Y
070 G021200 N
070 H011200 Y
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 Y
070 J021200 N
070 K011200 Y
070 K021200 N
070 L011200 Y
070 L021200 N
070 M011200 Y
<PAGE> PAGE 64
070 M021200 N
070 N011200 Y
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 N
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 72982
071 B001200 11266
071 C001200 36739
071 D001200 31
072 A001200 9
072 B001200 538
072 C001200 104
072 D001200 0
072 E001200 0
072 F001200 311
072 G001200 34
072 H001200 0
072 I001200 11
072 J001200 33
072 K001200 0
072 L001200 3
072 M001200 3
072 N001200 48
072 O001200 0
072 P001200 0
072 Q001200 4
072 R001200 14
072 S001200 3
072 T001200 8
072 U001200 5
072 V001200 0
072 W001200 12
072 X001200 486
072 Y001200 166
072 Z001200 322
072AA001200 581
072BB001200 0
072CC011200 621
072CC021200 0
072DD011200 311
072DD021200 6
072EE001200 0
073 A011200 0.0800
073 A021200 0.0600
073 B001200 0.0000
<PAGE> PAGE 65
073 C001200 0.0000
074 A001200 2
074 B001200 11512
074 C001200 394
074 D001200 0
074 E001200 0
074 F001200 63247
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 0
074 K001200 0
074 L001200 234
074 M001200 26
074 N001200 75415
074 O001200 218
074 P001200 50
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 174
074 S001200 0
074 T001200 74973
074 U011200 6617
074 U021200 421
074 V011200 10.65
074 V021200 21.29
074 W001200 0.0000
074 X001200 208
074 Y001200 0
075 A001200 0
075 B001200 31181
076 001200 0.00
SIGNATURE RICK CLEMENS
TITLE SUPERVISOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> THE PILOT FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> THE PILOT FUNDS
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 15008
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 213015818
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8356213
<OTHER-INCOME> 0
<EXPENSES-NET> 1081256
<NET-INVESTMENT-INCOME> 7274957
<REALIZED-GAINS-CURRENT> 25794
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 7300751
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6637519<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 348043<F1>
<NUMBER-OF-SHARES-REDEEMED> 376691<F1>
<SHARES-REINVESTED> 1563<F1>
<NET-CHANGE-IN-ASSETS> (13594769)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 37130
<GROSS-ADVISORY-FEES> 466582
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1081256
<AVERAGE-NET-ASSETS> 209257103<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .032<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .032<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .430<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 31
<NAME> PILOT MISSOURI SHORT-TERM TAX-EXEMPT FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 212538198
<INVESTMENTS-AT-VALUE> 212538198
<RECEIVABLES> 980493
<ASSETS-OTHER> 25060
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 213543751
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 527933
<TOTAL-LIABILITIES> 527933
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 212829041
<SHARES-COMMON-STOCK> 13500641<F1>
<SHARES-COMMON-PRIOR> 4556323<F1>
<ACCUMULATED-NII-CURRENT> 201785
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 15008
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 213015818
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8356213
<OTHER-INCOME> 0
<EXPENSES-NET> 1081256
<NET-INVESTMENT-INCOME> 7274957
<REALIZED-GAINS-CURRENT> 25794
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 7300751
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 297782<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 140954<F1>
<NUMBER-OF-SHARES-REDEEMED> 132319<F1>
<SHARES-REINVESTED> 310<F1>
<NET-CHANGE-IN-ASSETS> (13594769)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 37130
<GROSS-ADVISORY-FEES> 466582
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1081256
<AVERAGE-NET-ASSETS> 10385648<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .029<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .029<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .680<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Administration Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 31
<NAME> PILOT MISSOURI SHORT-TERM TAX-EXEMPT FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 212538198
<INVESTMENTS-AT-VALUE> 212538198
<RECEIVABLES> 980493
<ASSETS-OTHER> 25060
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 213543751
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 527933
<TOTAL-LIABILITIES> 527933
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 212829041
<SHARES-COMMON-STOCK> 15744033<F1>
<SHARES-COMMON-PRIOR> 11223937<F1>
<ACCUMULATED-NII-CURRENT> 201785
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 15008
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 213015818
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8356213
<OTHER-INCOME> 0
<EXPENSES-NET> 1081256
<NET-INVESTMENT-INCOME> 7274957
<REALIZED-GAINS-CURRENT> 25794
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 7300751
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 339651<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 84615<F1>
<NUMBER-OF-SHARES-REDEEMED> 80461<F1>
<SHARES-REINVESTED> 366<F1>
<NET-CHANGE-IN-ASSETS> (13594769)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 37130
<GROSS-ADVISORY-FEES> 466582
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1081256
<AVERAGE-NET-ASSETS> 12809185<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .027<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .027<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .930<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Investor Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 42
<NAME> PILOT MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 181116525
<INVESTMENTS-AT-VALUE> 188716068
<RECEIVABLES> 3169028
<ASSETS-OTHER> 64968
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 191950064
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 997420
<TOTAL-LIABILITIES> 997420
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 182151643
<SHARES-COMMON-STOCK> 17593520<F1>
<SHARES-COMMON-PRIOR> 14102794<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 151486
<ACCUMULATED-NET-GAINS> 1352944
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7599543
<NET-ASSETS> 190952644
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9969995
<OTHER-INCOME> 0
<EXPENSES-NET> 1178283
<NET-INVESTMENT-INCOME> 8791712
<REALIZED-GAINS-CURRENT> 1327403
<APPREC-INCREASE-CURRENT> (1391889)
<NET-CHANGE-FROM-OPS> 8727226
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8714852<F1>
<DISTRIBUTIONS-OF-GAINS> 478674<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5168000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1684000<F1>
<SHARES-REINVESTED> 6000<F1>
<NET-CHANGE-IN-ASSETS> 39231478
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333880
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 931305
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1368995
<AVERAGE-NET-ASSETS> 167682335<F1>
<PER-SHARE-NAV-BEGIN> 10.70<F1>
<PER-SHARE-NII> .570<F1>
<PER-SHARE-GAIN-APPREC> .010<F1>
<PER-SHARE-DIVIDEND> .560<F1>
<PER-SHARE-DISTRIBUTIONS> .030<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.68<F1>
<EXPENSE-RATIO> .690<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 42
<NAME> PILOT MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 181116525
<INVESTMENTS-AT-VALUE> 188716068
<RECEIVABLES> 3169028
<ASSETS-OTHER> 64968
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 191950064
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 997420
<TOTAL-LIABILITIES> 997420
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 182151643
<SHARES-COMMON-STOCK> 164350<F1>
<SHARES-COMMON-PRIOR> 31743<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 151486
<ACCUMULATED-NET-GAINS> 1352944
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7599543
<NET-ASSETS> 190952644
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9969995
<OTHER-INCOME> 0
<EXPENSES-NET> 1178283
<NET-INVESTMENT-INCOME> 8791712
<REALIZED-GAINS-CURRENT> 1327403
<APPREC-INCREASE-CURRENT> (1391889)
<NET-CHANGE-FROM-OPS> 8727226
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 43781<F1>
<DISTRIBUTIONS-OF-GAINS> 1491<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 136000<F1>
<NUMBER-OF-SHARES-REDEEMED> 6000<F1>
<SHARES-REINVESTED> 3000<F1>
<NET-CHANGE-IN-ASSETS> 39231478
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333880
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 931305
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1368995
<AVERAGE-NET-ASSETS> 891697<F1>
<PER-SHARE-NAV-BEGIN> 10.70<F1>
<PER-SHARE-NII> .540<F1>
<PER-SHARE-GAIN-APPREC> .010<F1>
<PER-SHARE-DIVIDEND> .540<F1>
<PER-SHARE-DISTRIBUTIONS> .030<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.68<F1>
<EXPENSE-RATIO> .920<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 42
<NAME> PILOT MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 181116525
<INVESTMENTS-AT-VALUE> 188716068
<RECEIVABLES> 3169028
<ASSETS-OTHER> 64968
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 191950064
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 997420
<TOTAL-LIABILITIES> 997420
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 182151643
<SHARES-COMMON-STOCK> 118533<F1>
<SHARES-COMMON-PRIOR> 42017<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 151486
<ACCUMULATED-NET-GAINS> 1352944
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7599543
<NET-ASSETS> 190952644
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 9969995
<OTHER-INCOME> 0
<EXPENSES-NET> 1178283
<NET-INVESTMENT-INCOME> 8791712
<REALIZED-GAINS-CURRENT> 1327403
<APPREC-INCREASE-CURRENT> (1391889)
<NET-CHANGE-FROM-OPS> 8727226
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 33079<F1>
<DISTRIBUTIONS-OF-GAINS> 1732<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 82000<F1>
<NUMBER-OF-SHARES-REDEEMED> 8000<F1>
<SHARES-REINVESTED> 2000<F1>
<NET-CHANGE-IN-ASSETS> 39231478
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333880
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 931305
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1368995
<AVERAGE-NET-ASSETS> 795510<F1>
<PER-SHARE-NAV-BEGIN> 10.65<F1>
<PER-SHARE-NII> .450<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .450<F1>
<PER-SHARE-DISTRIBUTIONS> .030<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.62<F1>
<EXPENSE-RATIO> 1.68<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 51
<NAME> PILOT INTERMEDIATE MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 219323114
<INVESTMENTS-AT-VALUE> 224917280
<RECEIVABLES> 3156764
<ASSETS-OTHER> 66263
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 228140307
<PAYABLE-FOR-SECURITIES> 7425535
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1049288
<TOTAL-LIABILITIES> 8474823
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213547739
<SHARES-COMMON-STOCK> 21164250<F1>
<SHARES-COMMON-PRIOR> 18702336<F1>
<ACCUMULATED-NII-CURRENT> 22150
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 501427
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5594166
<NET-ASSETS> 219665484
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 10889785
<OTHER-INCOME> 0
<EXPENSES-NET> 1319407
<NET-INVESTMENT-INCOME> 9570378
<REALIZED-GAINS-CURRENT> 626264
<APPREC-INCREASE-CURRENT> (3240645)
<NET-CHANGE-FROM-OPS> 6955997
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9554825<F1>
<DISTRIBUTIONS-OF-GAINS> 457443<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5830000<F1>
<NUMBER-OF-SHARES-REDEEMED> 3381000<F1>
<SHARES-REINVESTED> 12000<F1>
<NET-CHANGE-IN-ASSETS> 23224054
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333078
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1144620
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1642378
<AVERAGE-NET-ASSETS> 207795551<F1>
<PER-SHARE-NAV-BEGIN> 10.49<F1>
<PER-SHARE-NII> .480<F1>
<PER-SHARE-GAIN-APPREC> (.130)<F1>
<PER-SHARE-DIVIDEND> .480<F1>
<PER-SHARE-DISTRIBUTIONS> .020<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.34<F1>
<EXPENSE-RATIO> .630<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 51
<NAME> PILOT INTERMEDIATE MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 219323114
<INVESTMENTS-AT-VALUE> 224917280
<RECEIVABLES> 3156764
<ASSETS-OTHER> 66263
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 228140307
<PAYABLE-FOR-SECURITIES> 7425535
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1049288
<TOTAL-LIABILITIES> 8474823
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213547739
<SHARES-COMMON-STOCK> 73742<F1>
<SHARES-COMMON-PRIOR> 22167<F1>
<ACCUMULATED-NII-CURRENT> 22150
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 501427
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5594166
<NET-ASSETS> 219665484
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 10889785
<OTHER-INCOME> 0
<EXPENSES-NET> 1319407
<NET-INVESTMENT-INCOME> 9570378
<REALIZED-GAINS-CURRENT> 626264
<APPREC-INCREASE-CURRENT> (3240645)
<NET-CHANGE-FROM-OPS> 6955997
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 15553<F1>
<DISTRIBUTIONS-OF-GAINS> 392<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 81000<F1>
<NUMBER-OF-SHARES-REDEEMED> 30000<F1>
<SHARES-REINVESTED> 1000<F1>
<NET-CHANGE-IN-ASSETS> 23224054
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333078
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1144620
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1642378
<AVERAGE-NET-ASSETS> 353441<F1>
<PER-SHARE-NAV-BEGIN> 10.49<F1>
<PER-SHARE-NII> .460<F1>
<PER-SHARE-GAIN-APPREC> .110<F1>
<PER-SHARE-DIVIDEND> .460<F1>
<PER-SHARE-DISTRIBUTIONS> .020<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.36<F1>
<EXPENSE-RATIO> .780<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 61
<NAME> PILOT U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 146519391
<INVESTMENTS-AT-VALUE> 145042312
<RECEIVABLES> 2705046
<ASSETS-OTHER> 64553
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 147811911
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 876442
<TOTAL-LIABILITIES> 876442
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 141469931
<SHARES-COMMON-STOCK> 13780940<F1>
<SHARES-COMMON-PRIOR> 12256939<F1>
<ACCUMULATED-NII-CURRENT> 22072
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6920545
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1477079)
<NET-ASSETS> 146935469
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8777414
<OTHER-INCOME> 0
<EXPENSES-NET> 918235
<NET-INVESTMENT-INCOME> 7859179
<REALIZED-GAINS-CURRENT> 6920545
<APPREC-INCREASE-CURRENT> (9917288)
<NET-CHANGE-FROM-OPS> 4862436
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7807800<F1>
<DISTRIBUTIONS-OF-GAINS> 5585839<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3091000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1590000<F1>
<SHARES-REINVESTED> 23000<F1>
<NET-CHANGE-IN-ASSETS> 9441860
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5611049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 770623
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1155908
<AVERAGE-NET-ASSETS> 139080608<F1>
<PER-SHARE-NAV-BEGIN> 11.20<F1>
<PER-SHARE-NII> .610<F1>
<PER-SHARE-GAIN-APPREC> (.220)<F1>
<PER-SHARE-DIVIDEND> .610<F1>
<PER-SHARE-DISTRIBUTIONS> .450<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.53<F1>
<EXPENSE-RATIO> .650<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 61
<NAME> PILOT U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 146519391
<INVESTMENTS-AT-VALUE> 145042312
<RECEIVABLES> 2705046
<ASSETS-OTHER> 64553
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 147811911
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 876442
<TOTAL-LIABILITIES> 876442
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 141469931
<SHARES-COMMON-STOCK> 60030<F1>
<SHARES-COMMON-PRIOR> 7743<F1>
<ACCUMULATED-NII-CURRENT> 22072
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6920545
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1477079)
<NET-ASSETS> 146935469
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8777414
<OTHER-INCOME> 0
<EXPENSES-NET> 918235
<NET-INVESTMENT-INCOME> 7859179
<REALIZED-GAINS-CURRENT> 6920545
<APPREC-INCREASE-CURRENT> (9917288)
<NET-CHANGE-FROM-OPS> 4862436
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 17876<F1>
<DISTRIBUTIONS-OF-GAINS> 6785<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 64000<F1>
<NUMBER-OF-SHARES-REDEEMED> 13000<F1>
<SHARES-REINVESTED> 1000<F1>
<NET-CHANGE-IN-ASSETS> 9441860
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5611049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 770623
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1155908
<AVERAGE-NET-ASSETS> 328520<F1>
<PER-SHARE-NAV-BEGIN> 11.19<F1>
<PER-SHARE-NII> .590<F1>
<PER-SHARE-GAIN-APPREC> .200<F1>
<PER-SHARE-DIVIDEND> .590<F1>
<PER-SHARE-DISTRIBUTIONS> .450<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.54<F1>
<EXPENSE-RATIO> .850<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 61
<NAME> PILOT U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 146519391
<INVESTMENTS-AT-VALUE> 145042312
<RECEIVABLES> 2705046
<ASSETS-OTHER> 64553
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 147811911
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 876442
<TOTAL-LIABILITIES> 876442
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 141469931
<SHARES-COMMON-STOCK> 117601<F1>
<SHARES-COMMON-PRIOR> 13049<F1>
<ACCUMULATED-NII-CURRENT> 22072
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6920545
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (1477079)
<NET-ASSETS> 146935469
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8777414
<OTHER-INCOME> 0
<EXPENSES-NET> 918235
<NET-INVESTMENT-INCOME> 7859179
<REALIZED-GAINS-CURRENT> 6920545
<APPREC-INCREASE-CURRENT> (9917288)
<NET-CHANGE-FROM-OPS> 4862436
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 33503<F1>
<DISTRIBUTIONS-OF-GAINS> 18425<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 106000<F1>
<NUMBER-OF-SHARES-REDEEMED> 5000<F1>
<SHARES-REINVESTED> 4000<F1>
<NET-CHANGE-IN-ASSETS> 9441860
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5611049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 770623
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1155908
<AVERAGE-NET-ASSETS> 728864<F1>
<PER-SHARE-NAV-BEGIN> 11.19<F1>
<PER-SHARE-NII> .510<F1>
<PER-SHARE-GAIN-APPREC> (.220)<F1>
<PER-SHARE-DIVIDEND> .510<F1>
<PER-SHARE-DISTRIBUTIONS> .450<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.52<F1>
<EXPENSE-RATIO> 1.65<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 71
<NAME> PILOT EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 120936301
<INVESTMENTS-AT-VALUE> 138795405
<RECEIVABLES> 770431
<ASSETS-OTHER> 65527
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 139631363
<PAYABLE-FOR-SECURITIES> 3866900
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 646591
<TOTAL-LIABILITIES> 4513491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 113920252
<SHARES-COMMON-STOCK> 10526776<F1>
<SHARES-COMMON-PRIOR> 8735804<F1>
<ACCUMULATED-NII-CURRENT> 126759
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3211757
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17859104
<NET-ASSETS> 135117872
<DIVIDEND-INCOME> 4929581
<INTEREST-INCOME> 564455
<OTHER-INCOME> 0
<EXPENSES-NET> 926766
<NET-INVESTMENT-INCOME> 4567270
<REALIZED-GAINS-CURRENT> 4887676
<APPREC-INCREASE-CURRENT> 7360212
<NET-CHANGE-FROM-OPS> 16815158
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4386503<F1>
<DISTRIBUTIONS-OF-GAINS> 2661530<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2586000<F1>
<NUMBER-OF-SHARES-REDEEMED> 820000<F1>
<SHARES-REINVESTED> 25000<F1>
<NET-CHANGE-IN-ASSETS> 35486866
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1025148
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 910255
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1282539
<AVERAGE-NET-ASSETS> 118877452<F1>
<PER-SHARE-NAV-BEGIN> 11.29<F1>
<PER-SHARE-NII> .460<F1>
<PER-SHARE-GAIN-APPREC> 1.38<F1>
<PER-SHARE-DIVIDEND> .450<F1>
<PER-SHARE-DISTRIBUTIONS> .300<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.38<F1>
<EXPENSE-RATIO> .750<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 71
<NAME> PILOT EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 120936301
<INVESTMENTS-AT-VALUE> 138795405
<RECEIVABLES> 770431
<ASSETS-OTHER> 65527
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 139631363
<PAYABLE-FOR-SECURITIES> 3866900
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 646591
<TOTAL-LIABILITIES> 4513491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 113920252
<SHARES-COMMON-STOCK> 131637<F1>
<SHARES-COMMON-PRIOR> 27404<F1>
<ACCUMULATED-NII-CURRENT> 126759
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3211757
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17859104
<NET-ASSETS> 135117872
<DIVIDEND-INCOME> 4929581
<INTEREST-INCOME> 564455
<OTHER-INCOME> 0
<EXPENSES-NET> 926766
<NET-INVESTMENT-INCOME> 4567270
<REALIZED-GAINS-CURRENT> 4887676
<APPREC-INCREASE-CURRENT> 7360212
<NET-CHANGE-FROM-OPS> 16815158
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29116<F1>
<DISTRIBUTIONS-OF-GAINS> 10717<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 120000<F1>
<NUMBER-OF-SHARES-REDEEMED> 18000<F1>
<SHARES-REINVESTED> 3000<F1>
<NET-CHANGE-IN-ASSETS> 35486866
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1025148
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 910255
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1282539
<AVERAGE-NET-ASSETS> 838622<F1>
<PER-SHARE-NAV-BEGIN> 11.36<F1>
<PER-SHARE-NII> .410<F1>
<PER-SHARE-GAIN-APPREC> 1.40<F1>
<PER-SHARE-DIVIDEND> .410<F1>
<PER-SHARE-DISTRIBUTIONS> .300<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.46<F1>
<EXPENSE-RATIO> 1.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 71
<NAME> PILOT EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 120936301
<INVESTMENTS-AT-VALUE> 138795405
<RECEIVABLES> 770431
<ASSETS-OTHER> 65527
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 139631363
<PAYABLE-FOR-SECURITIES> 3866900
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 646591
<TOTAL-LIABILITIES> 4513491
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 113920252
<SHARES-COMMON-STOCK> 257156<F1>
<SHARES-COMMON-PRIOR> 62820<F1>
<ACCUMULATED-NII-CURRENT> 126759
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3211757
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 17859104
<NET-ASSETS> 135117872
<DIVIDEND-INCOME> 4929581
<INTEREST-INCOME> 564455
<OTHER-INCOME> 0
<EXPENSES-NET> 926766
<NET-INVESTMENT-INCOME> 4567270
<REALIZED-GAINS-CURRENT> 4887676
<APPREC-INCREASE-CURRENT> 7360212
<NET-CHANGE-FROM-OPS> 16815158
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 46964<F1>
<DISTRIBUTIONS-OF-GAINS> 28820<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 198000<F1>
<NUMBER-OF-SHARES-REDEEMED> 9000<F1>
<SHARES-REINVESTED> 6000<F1>
<NET-CHANGE-IN-ASSETS> 35486866
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1025148
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 910255
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1282539
<AVERAGE-NET-ASSETS> 1698165<F1>
<PER-SHARE-NAV-BEGIN> 11.34<F1>
<PER-SHARE-NII> .330<F1>
<PER-SHARE-GAIN-APPREC> 1.39<F1>
<PER-SHARE-DIVIDEND> .320<F1>
<PER-SHARE-DISTRIBUTIONS> .300<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.44<F1>
<EXPENSE-RATIO> 1.75<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 81
<NAME> THE PILOT INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 536476004
<INVESTMENTS-AT-VALUE> 603995546
<RECEIVABLES> 3389653
<ASSETS-OTHER> 1601348
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 608986547
<PAYABLE-FOR-SECURITIES> 912139
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2140843
<TOTAL-LIABILITIES> 3052982
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 522337126
<SHARES-COMMON-STOCK> 33969619<F1>
<SHARES-COMMON-PRIOR> 22371312<F1>
<ACCUMULATED-NII-CURRENT> 7013267
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 10459434
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 66123738
<NET-ASSETS> 605933565
<DIVIDEND-INCOME> 7470878
<INTEREST-INCOME> 1172285
<OTHER-INCOME> 0
<EXPENSES-NET> 5327146
<NET-INVESTMENT-INCOME> 3316017
<REALIZED-GAINS-CURRENT> 23727437
<APPREC-INCREASE-CURRENT> 19084589
<NET-CHANGE-FROM-OPS> 46128043
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11112928<F1>
<DISTRIBUTIONS-OF-GAINS> 9018759<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 12865000<F1>
<NUMBER-OF-SHARES-REDEEMED> 2235000<F1>
<SHARES-REINVESTED> 967000<F1>
<NET-CHANGE-IN-ASSETS> 215097053
<ACCUMULATED-NII-PRIOR> 2488507
<ACCUMULATED-GAINS-PRIOR> 9516175
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3873513
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5327146
<AVERAGE-NET-ASSETS> 460777277<F1>
<PER-SHARE-NAV-BEGIN> 16.24<F1>
<PER-SHARE-NII> .180<F1>
<PER-SHARE-GAIN-APPREC> 1.48<F1>
<PER-SHARE-DIVIDEND> .460<F1>
<PER-SHARE-DISTRIBUTIONS> .390<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 17.05<F1>
<EXPENSE-RATIO> 1.08<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 81
<NAME> THE PILOT INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 536476004
<INVESTMENTS-AT-VALUE> 603995546
<RECEIVABLES> 3389653
<ASSETS-OTHER> 1601348
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 608986547
<PAYABLE-FOR-SECURITIES> 912139
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2140843
<TOTAL-LIABILITIES> 3052982
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 522337126
<SHARES-COMMON-STOCK> 1581654<F1>
<SHARES-COMMON-PRIOR> 1711244<F1>
<ACCUMULATED-NII-CURRENT> 7013267
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 10459434
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 66123738
<NET-ASSETS> 605933565
<DIVIDEND-INCOME> 7470878
<INTEREST-INCOME> 1172285
<OTHER-INCOME> 0
<EXPENSES-NET> 5327146
<NET-INVESTMENT-INCOME> 3316017
<REALIZED-GAINS-CURRENT> 23727437
<APPREC-INCREASE-CURRENT> 19084589
<NET-CHANGE-FROM-OPS> 46128043
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 765596<F1>
<DISTRIBUTIONS-OF-GAINS> 648034<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 73000<F1>
<NUMBER-OF-SHARES-REDEEMED> 258000<F1>
<SHARES-REINVESTED> 55000<F1>
<NET-CHANGE-IN-ASSETS> 215097053
<ACCUMULATED-NII-PRIOR> 2488507
<ACCUMULATED-GAINS-PRIOR> 9516175
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3873513
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5327146
<AVERAGE-NET-ASSETS> 27109426<F1>
<PER-SHARE-NAV-BEGIN> 16.14<F1>
<PER-SHARE-NII> .040<F1>
<PER-SHARE-GAIN-APPREC> 1.57<F1>
<PER-SHARE-DIVIDEND> .460<F1>
<PER-SHARE-DISTRIBUTIONS> .390<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 16.90<F1>
<EXPENSE-RATIO> 1.32<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 81
<NAME> THE PILOT INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 536476004
<INVESTMENTS-AT-VALUE> 603995546
<RECEIVABLES> 3389653
<ASSETS-OTHER> 1601348
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 608986547
<PAYABLE-FOR-SECURITIES> 912139
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2140843
<TOTAL-LIABILITIES> 3052982
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 522337126
<SHARES-COMMON-STOCK> 10822<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 7013267
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 10459434
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 66123738
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<INTEREST-INCOME> 1172285
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<EXPENSES-NET> 5327146
<NET-INVESTMENT-INCOME> 3316017
<REALIZED-GAINS-CURRENT> 23727437
<APPREC-INCREASE-CURRENT> 19084589
<NET-CHANGE-FROM-OPS> 46128043
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 11000<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 215097053
<ACCUMULATED-NII-PRIOR> 2488507
<ACCUMULATED-GAINS-PRIOR> 9516175
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 3873513
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 5327146
<AVERAGE-NET-ASSETS> 14137<F1>
<PER-SHARE-NAV-BEGIN> 17.54<F1>
<PER-SHARE-NII> .000<F1>
<PER-SHARE-GAIN-APPREC> (.500)<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 17.04<F1>
<EXPENSE-RATIO> 2.06<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 91
<NAME> PILOT SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 398203882
<INVESTMENTS-AT-VALUE> 398203882
<RECEIVABLES> 2230143
<ASSETS-OTHER> 50252
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 400484277
<PAYABLE-FOR-SECURITIES> 8044700
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1205130
<TOTAL-LIABILITIES> 9249830
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 391160813
<SHARES-COMMON-STOCK> 375748990<F1>
<SHARES-COMMON-PRIOR> 397810341<F1>
<ACCUMULATED-NII-CURRENT> 41741
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 31893
<OVERDISTRIBUTION-GAINS> 0
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<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14242722
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<EXPENSES-NET> 1482993
<NET-INVESTMENT-INCOME> 12759729
<REALIZED-GAINS-CURRENT> 59395
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12819124
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 12351930<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 482524<F1>
<NUMBER-OF-SHARES-REDEEMED> 504585<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> (20996407)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 27502
<GROSS-ADVISORY-FEES> 787503
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1628542
<AVERAGE-NET-ASSETS> 379096448<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .033<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .033<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .370<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 91
<NAME> PILOT SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 398203882
<INVESTMENTS-AT-VALUE> 398203882
<RECEIVABLES> 2230143
<ASSETS-OTHER> 50252
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 400484277
<PAYABLE-FOR-SECURITIES> 8044700
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1205130
<TOTAL-LIABILITIES> 9249830
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 391160813
<SHARES-COMMON-STOCK> 14549406<F1>
<SHARES-COMMON-PRIOR> 14442921<F1>
<ACCUMULATED-NII-CURRENT> 41741
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 31893
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 391234447
<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
<EXPENSES-NET> 1482993
<NET-INVESTMENT-INCOME> 12759729
<REALIZED-GAINS-CURRENT> 59395
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12819124
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 405583<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13384<F1>
<NUMBER-OF-SHARES-REDEEMED> 13716<F1>
<SHARES-REINVESTED> 438<F1>
<NET-CHANGE-IN-ASSETS> (20996407)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 27502
<GROSS-ADVISORY-FEES> 787503
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1628542
<AVERAGE-NET-ASSETS> 13636253<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .030<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .030<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .620<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Administration Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 91
<NAME> PILOT SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 398203882
<INVESTMENTS-AT-VALUE> 398203882
<RECEIVABLES> 2230143
<ASSETS-OTHER> 50252
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 400484277
<PAYABLE-FOR-SECURITIES> 8044700
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1205130
<TOTAL-LIABILITIES> 9249830
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 391160813
<SHARES-COMMON-STOCK> 906905<F1>
<SHARES-COMMON-PRIOR> 5094<F1>
<ACCUMULATED-NII-CURRENT> 41741
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 31893
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 391234447
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14242722
<OTHER-INCOME> 0
<EXPENSES-NET> 1482993
<NET-INVESTMENT-INCOME> 12759729
<REALIZED-GAINS-CURRENT> 59395
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 12819124
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4963<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1465<F1>
<NUMBER-OF-SHARES-REDEEMED> 567<F1>
<SHARES-REINVESTED> 4<F1>
<NET-CHANGE-IN-ASSETS> (20996407)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 27502
<GROSS-ADVISORY-FEES> 787503
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1628542
<AVERAGE-NET-ASSETS> 193632<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .028<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .028<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .870<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Investor Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 101
<NAME> PILOT GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 169362628
<INVESTMENTS-AT-VALUE> 190535761
<RECEIVABLES> 808373
<ASSETS-OTHER> 68739
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 191412873
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 548297
<TOTAL-LIABILITIES> 548297
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 161061850
<SHARES-COMMON-STOCK> 14134853<F1>
<SHARES-COMMON-PRIOR> 9442613<F1>
<ACCUMULATED-NII-CURRENT> 22405
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8607188
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21173133
<NET-ASSETS> 190864576
<DIVIDEND-INCOME> 3727607
<INTEREST-INCOME> 211409
<OTHER-INCOME> 0
<EXPENSES-NET> 1186200
<NET-INVESTMENT-INCOME> 2752816
<REALIZED-GAINS-CURRENT> 9243395
<APPREC-INCREASE-CURRENT> 8360600
<NET-CHANGE-FROM-OPS> 20356811
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2705578<F1>
<DISTRIBUTIONS-OF-GAINS> 3103049<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6320000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1702000<F1>
<SHARES-REINVESTED> 74000<F1>
<NET-CHANGE-IN-ASSETS> 80083262
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2531612
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1184210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1609806
<AVERAGE-NET-ASSETS> 153548771<F1>
<PER-SHARE-NAV-BEGIN> 11.57<F1>
<PER-SHARE-NII> .220<F1>
<PER-SHARE-GAIN-APPREC> 1.57<F1>
<PER-SHARE-DIVIDEND> .220<F1>
<PER-SHARE-DISTRIBUTIONS> .280<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.90<F1>
<EXPENSE-RATIO> .740<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 101
<NAME> PILOT GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 169362628
<INVESTMENTS-AT-VALUE> 190535761
<RECEIVABLES> 808373
<ASSETS-OTHER> 68739
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 191412873
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 548297
<TOTAL-LIABILITIES> 548297
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 161061850
<SHARES-COMMON-STOCK> 361868<F1>
<SHARES-COMMON-PRIOR> 60167<F1>
<ACCUMULATED-NII-CURRENT> 22405
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8607188
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21173133
<NET-ASSETS> 190864576
<DIVIDEND-INCOME> 3727607
<INTEREST-INCOME> 211409
<OTHER-INCOME> 0
<EXPENSES-NET> 1186200
<NET-INVESTMENT-INCOME> 2752816
<REALIZED-GAINS-CURRENT> 9243395
<APPREC-INCREASE-CURRENT> 8360600
<NET-CHANGE-FROM-OPS> 20356811
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 35542<F1>
<DISTRIBUTIONS-OF-GAINS> 26472<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 324000<F1>
<NUMBER-OF-SHARES-REDEEMED> 27000<F1>
<SHARES-REINVESTED> 5000<F1>
<NET-CHANGE-IN-ASSETS> 80083262
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2531612
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1184210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1609806
<AVERAGE-NET-ASSETS> 2233361<F1>
<PER-SHARE-NAV-BEGIN> 11.58<F1>
<PER-SHARE-NII> .180<F1>
<PER-SHARE-GAIN-APPREC> 1.60<F1>
<PER-SHARE-DIVIDEND> .180<F1>
<PER-SHARE-DISTRIBUTIONS> .280<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.90<F1>
<EXPENSE-RATIO> .990<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 101
<NAME> PILOT GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 169362628
<INVESTMENTS-AT-VALUE> 190535761
<RECEIVABLES> 808373
<ASSETS-OTHER> 68739
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 191412873
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 548297
<TOTAL-LIABILITIES> 548297
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 161061850
<SHARES-COMMON-STOCK> 295864<F1>
<SHARES-COMMON-PRIOR> 57043<F1>
<ACCUMULATED-NII-CURRENT> 22405
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 8607188
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<ACCUM-APPREC-OR-DEPREC> 21173133
<NET-ASSETS> 190864576
<DIVIDEND-INCOME> 3727607
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<OTHER-INCOME> 0
<EXPENSES-NET> 1186200
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<REALIZED-GAINS-CURRENT> 9243395
<APPREC-INCREASE-CURRENT> 8360600
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<DISTRIBUTIONS-OF-GAINS> 32042<F1>
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<NUMBER-OF-SHARES-SOLD> 241000<F1>
<NUMBER-OF-SHARES-REDEEMED> 6000<F1>
<SHARES-REINVESTED> 4000<F1>
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<ACCUMULATED-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> 1184210
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1609806
<AVERAGE-NET-ASSETS> 2219894<F1>
<PER-SHARE-NAV-BEGIN> 11.59<F1>
<PER-SHARE-NII> .090<F1>
<PER-SHARE-GAIN-APPREC> 1.60<F1>
<PER-SHARE-DIVIDEND> .090<F1>
<PER-SHARE-DISTRIBUTIONS> .280<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.91<F1>
<EXPENSE-RATIO> 1.74<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 111
<NAME> PILOT INTERMEDIATE U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-10-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 231910918
<INVESTMENTS-AT-VALUE> 228175314
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 232183460
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<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1221506
<TOTAL-LIABILITIES> 1221506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 231561225
<SHARES-COMMON-STOCK> 22639312<F1>
<SHARES-COMMON-PRIOR> 15840048<F1>
<ACCUMULATED-NII-CURRENT> 22072
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3114261
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3735604)
<NET-ASSETS> 230961954
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12820252
<OTHER-INCOME> 0
<EXPENSES-NET> 1167671
<NET-INVESTMENT-INCOME> 11652581
<REALIZED-GAINS-CURRENT> 3434313
<APPREC-INCREASE-CURRENT> (8921949)
<NET-CHANGE-FROM-OPS> 6164945
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11613105<F1>
<DISTRIBUTIONS-OF-GAINS> 920212<F1>
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<NUMBER-OF-SHARES-SOLD> 10181000<F1>
<NUMBER-OF-SHARES-REDEEMED> 3421000<F1>
<SHARES-REINVESTED> 39000<F1>
<NET-CHANGE-IN-ASSETS> 65021826
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1128188
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1589252
<AVERAGE-NET-ASSETS> 204460755<F1>
<PER-SHARE-NAV-BEGIN> 10.44<F1>
<PER-SHARE-NII> .590<F1>
<PER-SHARE-GAIN-APPREC> (.230)<F1>
<PER-SHARE-DIVIDEND> .590<F1>
<PER-SHARE-DISTRIBUTIONS> .050<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.16<F1>
<EXPENSE-RATIO> .570<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 111
<NAME> PILOT INTERMEDIATE U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-10-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 231910918
<INVESTMENTS-AT-VALUE> 228175314
<RECEIVABLES> 3942094
<ASSETS-OTHER> 66052
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 232183460
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1221506
<TOTAL-LIABILITIES> 1221506
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 231561225
<SHARES-COMMON-STOCK> 91731<F1>
<SHARES-COMMON-PRIOR> 47766<F1>
<ACCUMULATED-NII-CURRENT> 22072
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3114261
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3735604)
<NET-ASSETS> 230961954
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 12820252
<OTHER-INCOME> 0
<EXPENSES-NET> 1167671
<NET-INVESTMENT-INCOME> 11652581
<REALIZED-GAINS-CURRENT> 3434313
<APPREC-INCREASE-CURRENT> (8921949)
<NET-CHANGE-FROM-OPS> 6164945
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 39476<F1>
<DISTRIBUTIONS-OF-GAINS> 2910<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 60000<F1>
<NUMBER-OF-SHARES-REDEEMED> 18000<F1>
<SHARES-REINVESTED> 2000<F1>
<NET-CHANGE-IN-ASSETS> 65021826
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 603070
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1128188
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1589252
<AVERAGE-NET-ASSETS> 725508<F1>
<PER-SHARE-NAV-BEGIN> 10.44<F1>
<PER-SHARE-NII> .570<F1>
<PER-SHARE-GAIN-APPREC> (.230)<F1>
<PER-SHARE-DIVIDEND> .570<F1>
<PER-SHARE-DISTRIBUTIONS> .050<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.16<F1>
<EXPENSE-RATIO> .720<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 121
<NAME> PILOT SMALL CAPITALIZATION EQUITY FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 74195855
<INVESTMENTS-AT-VALUE> 75153196
<RECEIVABLES> 234212
<ASSETS-OTHER> 27723
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 75415131
<PAYABLE-FOR-SECURITIES> 218007
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 224056
<TOTAL-LIABILITIES> 442063
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 73763043
<SHARES-COMMON-STOCK> 6617289<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 7331
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 581207
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 621487
<NET-ASSETS> 74973068
<DIVIDEND-INCOME> 103779
<INTEREST-INCOME> 537785
<OTHER-INCOME> 0
<EXPENSES-NET> 319724
<NET-INVESTMENT-INCOME> 321840
<REALIZED-GAINS-CURRENT> 581207
<APPREC-INCREASE-CURRENT> 621487
<NET-CHANGE-FROM-OPS> 1524534
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 310641<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6777000<F1>
<NUMBER-OF-SHARES-REDEEMED> 166000<F1>
<SHARES-REINVESTED> 6000<F1>
<NET-CHANGE-IN-ASSETS> 74973068
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 310841
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 485972
<AVERAGE-NET-ASSETS> 29788203<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .090<F1>
<PER-SHARE-GAIN-APPREC> .640<F1>
<PER-SHARE-DIVIDEND> .080<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.65<F1>
<EXPENSE-RATIO> 1.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 121
<NAME> PILOT SMALL CAPITALIZATION EQUITY FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 74195855
<INVESTMENTS-AT-VALUE> 75153196
<RECEIVABLES> 234212
<ASSETS-OTHER> 27723
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 75415131
<PAYABLE-FOR-SECURITIES> 218007
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 224056
<TOTAL-LIABILITIES> 442063
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 73763043
<SHARES-COMMON-STOCK> 245417<F1>
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 7331
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 581207
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 621487
<NET-ASSETS> 74973068
<DIVIDEND-INCOME> 103779
<INTEREST-INCOME> 537785
<OTHER-INCOME> 0
<EXPENSES-NET> 319724
<NET-INVESTMENT-INCOME> 321840
<REALIZED-GAINS-CURRENT> 581207
<APPREC-INCREASE-CURRENT> 621487
<NET-CHANGE-FROM-OPS> 1524534
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5306<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 249000<F1>
<NUMBER-OF-SHARES-REDEEMED> 4000<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 74973068
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 310841
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 485972
<AVERAGE-NET-ASSETS> 783869<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .050<F1>
<PER-SHARE-GAIN-APPREC> .640<F1>
<PER-SHARE-DIVIDEND> .050<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.64<F1>
<EXPENSE-RATIO> 1.25<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 121
<NAME> PILOT SMALL CAPITALIZATION EQUITY FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> AUG-31-1996
<INVESTMENTS-AT-COST> 74195855
<INVESTMENTS-AT-VALUE> 75153196
<RECEIVABLES> 234212
<ASSETS-OTHER> 27723
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 75415131
<PAYABLE-FOR-SECURITIES> 218007
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 224056
<TOTAL-LIABILITIES> 442063
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 73763043
<SHARES-COMMON-STOCK> 176356<F1>
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 7331
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 581207
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 621487
<NET-ASSETS> 74973068
<DIVIDEND-INCOME> 103779
<INTEREST-INCOME> 537785
<OTHER-INCOME> 0
<EXPENSES-NET> 319724
<NET-INVESTMENT-INCOME> 321840
<REALIZED-GAINS-CURRENT> 581207
<APPREC-INCREASE-CURRENT> 621487
<NET-CHANGE-FROM-OPS> 1524534
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1071<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 177000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1000<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 74973068
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 310841
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 485972
<AVERAGE-NET-ASSETS> 609391<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .010<F1>
<PER-SHARE-GAIN-APPREC> .650<F1>
<PER-SHARE-DIVIDEND> .010<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.65<F1>
<EXPENSE-RATIO> 2.01<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
To the Board of Trustees of The Pilot International
Equity Fund of The Pilot Funds:
In planning and performing our audit of the financial
statements of The Pilot International Equity
Fund for the year ended August 31, 1996, we considered
its internal control structure, including
procedures 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 the internal control structure.
The management of The Pilot International Equity
Fund is responsible for establishing and
maintaining an internal control structure. In
fulfilling this responsibility, estimates and
judgements by management are required to assess
the expected benefits and related costs of
internal control structure policies and procedures.
Two of the objectives of an internal control
structure are to provide management with reasonable,
but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or
disposition and transactions are executed in
accordance with management's authorization and
recorded properly to permit preparation of
financial statements in conformity with generally
accepted accounting principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur
and may not be detected. Also, projection of any
evaluation of the structure 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 the internal control structure
would not necessarily disclose all matters in
the internal control structure 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 the specific internal
control structure elements does not reduce
to a relatively low level the risk that errors or
irregularities 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 the internal control
structure, including procedures for safeguarding
securities, that we consider to be material weaknesses
as defined above as of August 31, 1996.
This report is intended solely for the information and
use of management and the Securities and
Exchange Commission.
ARTHUR ANDERSEN LLP
Boston, Massachusetts
October 21, 1996
To the Board of Trustees of The Pilot Growth
and Income Fund,
Pilot Equity Income Fund,
Pilot U.S. Government Securities
Fund,
Pilot Intermediate U.S. Government
Securities Fund,
Pilot Municipal Bond Fund,
Pilot Intermediate Municipal Bond
Fund, and
Pilot Small Capitalization Equity Fund
of The Pilot Funds (The Pilot Funds):
In planning and performing our audit of the financial
statements of The Pilot Funds
for the year ended August 31, 1996, we considered
its internal control structure, including procedures
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 the internal control structure.
The management of The Pilot Funds is responsible
for establishing and maintaining an internal control
structure. In fulfilling this responsibility, estimates
and judgements by management are required to assess
the expected benefits and related costs of internal
control structure policies and procedures. Two of the
objectives of an internal control structure are to
provide management with reasonable, but not
absolute, assurance that assets are safeguarded against
loss from unauthorized use or disposition and
transactions are executed in accordance with
management's authorization and recorded properly
to permit preparation of financial statements in
conformity with generally accepted accounting
principles.
Because of inherent limitations in any internal
control structure, errors or irregularities may
occur and may not be detected. Also, projection
of any evaluation of the structure 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 the internal control structure
would not necessarily disclose all matters in the
internal control structure 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 the specific internal control
structure elements does not reduce to a relatively low l
evel the risk that errors or irregularities in amount
s 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 the internal
control structure, including procedures for
safeguarding securities, that we consider to be material
weaknesses as defined above as of August 31, 1996.
This report is intended solely for the information and
use of management and the Securities and
Exchange Commission.
ARTHUR ANDERSEN LLP
Boston, Massachusetts
October 21, 1996
To the Board of Trustees of The Pilot
Short-Term U.S. Treasury Fund,
Pilot Short-Term Diversified Assets Fund,
Pilot Short-Term Tax-Exempt Diversified
Fund, and
Pilot Missouri Short-Term Tax-Exempt
Fund of The Pilot Funds (The Pilot Funds):
In planning and performing our audit of the financial
statements of The Pilot Funds for the year ended August
31, 1996, we considered its internal control structure,
including
procedures 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 the internal control structure.
The management of The Pilot Funds is responsible
for establishing and
maintaining an internal control structure.
In fulfilling this responsibility, estimates and
judgements by management are required to assess
the expected benefits and related costs of
internal control structure policies and procedures.
Two of the objectives of an internal control
structure are to provide management with reasonable,
but not absolute, assurance that assets are
safeguarded against loss from unauthorized use or
disposition and transactions are executed in
accordance with management's authorization and
recorded properly to permit preparation of
financial statements in conformity with generally
accepted accounting principles.
Because of inherent limitations in any internal control
structure, errors or irregularities may occur
and may not be detected. Also, projection of any
evaluation of the structure 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 the internal control structure
would not necessarily disclose all matters in
the internal control structure 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 the specific internal
control structure elements does not reduce
to a relatively low level the risk that errors or
irregularities 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 the internal control
structure, including procedures for safeguarding
securities, that we consider to be material weaknesses
as defined above as of August 31, 1996.
This report is intended solely for the information
and use of management and the Securities and
Exchange Commission.
ARTHUR ANDERSEN LLP
Boston, Massachusetts
October 21, 1996
