<PAGE> PAGE 1
000 A000000 02/29/96
000 C000000 0000704178
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THE PILOT FUNDS
001 B000000 811-3517
001 C000000 8007174562
002 A000000 3435 STELZER ROAD
002 B000000 COLUMBUS
002 C000000 OH
002 D010000 43219
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 12
007 C010100 1
007 C020100 PILOT SHORT-TERM DIVERSIFIED ASSETS FUND
007 C030100 N
007 C010200 2
007 C020200 PILOT SHORT-TERM U.S. TREASURY FUND
007 C030200 N
007 C010300 3
007 C020300 PILOT MISSOURI SHORT-TERM TAX EXEMPT FUND
007 C030300 N
007 C010400 4
007 C020400 PILOT MUNICIPAL BOND FUND
007 C030400 N
007 C010500 5
007 C020500 PILOT INTERMEDIATE MUNICIPAL BOND FUND
007 C030500 N
007 C010600 6
007 C020600 PILOT U.S. GOVERNMENT SECURITIES FUND
007 C030600 N
007 C010700 7
007 C020700 PILOT EQUITY INCOME FUND
007 C030700 N
007 C010800 8
007 C020800 PILOT INTERNATIONAL EQUITY FUND
007 C030800 N
007 C010900 9
007 C020900 PILOT SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
007 C030900 N
007 C011000 10
007 C021000 PILOT GROWTH AND INCOME FUND
<PAGE> PAGE 2
007 C031000 N
007 C011100 11
007 C021100 PILOT INTERMEDIATE U.S. GOVERNMENT SECURITIES
007 C031100 N
007 C011200 12
007 C021200 PILOT SMALL CAPITALIZATION EQUITY FUND
007 C031200 N
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
010 A00AA01 CONCORD HOLDING CORPORATION
010 B00AA01 0000000000
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10019
011 A00AA01 PILOT FUNDS DISTRIBUTORS
011 B00AA01 8-00000000
011 C01AA01 COLUMBUS
011 C02AA01 OH
011 C03AA01 43219
013 A00AA01 ARTHUR ANDERSEN
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
013 B04AA01 2604
014 A00AA01 BOATMEN'S INVESTMENT SERVICES
014 B00AA01 8-00000000
015 A00AA01 STATE STREET BANK & TRUST
015 B00AA01 C
015 C01AA01 QUINCY
015 C02AA01 MA
015 C03AA01 02116
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 SG WARBURG SECURITIES
020 C000001 83
020 A000002 UBS LIMITED
020 C000002 39
020 A000003 SCHRODER HUNCHMEYER
020 C000003 35
020 A000004 MERRILL LYNCH TOKYO
020 C000004 29
020 A000005 SALOMON BROTHERS
020 C000005 28
<PAGE> PAGE 3
020 A000006 JEFFERIES & CO.
020 C000006 23
020 A000007 NATWEST SECURITIES
020 C000007 22
020 A000008 BERNSTEIN STANFORD
020 C000008 18
020 A000009 JAMES CAPEL & CO.
020 C000009 15
020 A000010 BARINGS SECURITIES LONDON
020 C000010 14
021 000000 393
022 A000001 MORGAN J.P.
022 C000001 59649890
022 D000001 153500
022 A000002 LEHNMAN BROTHERS
022 C000002 56609272
022 D000002 148613
022 A000003 STATE STREET BANK
022 C000003 19675430
022 D000003 0
022 A000004 MERRILL LYNCH
022 C000004 15807594
022 D000004 700
022 A000005 GOLDMAN SACHS
022 C000005 929854
022 D000005 68056
022 A000006 BZW SECURITIES
022 C000006 621974
022 D000006 49953
022 A000007 BANK OF AMERICA
022 C000007 174648
022 D000007 349678
022 A000008 J.M. LUMMIS
022 C000008 520002
022 D000008 0
022 A000009 LASSER MARSHALL
022 C000009 465064
022 D000009 44998
022 A000010 FEDERATED TAX EXEMPT
022 C000010 263824
022 D000010 206998
023 C000000 300000000
023 D000000 400000000
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
<PAGE> PAGE 4
026 H000000 N
027 000000 Y
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 N
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
077 A000000 N
078 000000 N
008 A000101 BOATMEN'S TRUST COMPANY
008 B000101 A
008 C000101 801-000000
008 D010101 ST LOUIS
008 D020101 MO
008 D030101 63178
008 D040101 4737
012 A000101 BISYS FUND SERVICES
012 B000101 84-0000000
012 C010101 PITTSBURGH
012 C020101 PA
012 C030101 15222
024 000100 N
028 A010100 464430
028 A020100 1066
028 A030100 0
028 A040100 421706
028 B010100 455888
028 B020100 1063
028 B030100 0
028 B040100 445279
028 C010100 432806
028 C020100 1098
028 C030100 0
028 C040100 392500
028 D010100 496370
028 D020100 1016
028 D030100 0
<PAGE> PAGE 5
028 D040100 381893
028 E010100 514491
028 E020100 1148
028 E030100 0
028 E040100 499592
028 F010100 416380
028 F020100 1016
028 F030100 0
028 F040100 417942
028 G010100 2780365
028 G020100 6407
028 G030100 0
028 G040100 2558912
028 H000100 0
029 000100 N
030 A000100 0
030 B000100 0.00
030 C000100 0.00
034 000100 N
035 000100 0
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 N
041 000100 N
042 A000100 0
042 B000100 0
042 C000100 0
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 0
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.150
048 A010100 0
048 A020100 0.000
048 B010100 0
048 B020100 0.000
048 C010100 0
048 C020100 0.000
048 D010100 0
048 D020100 0.000
048 E010100 0
048 E020100 0.000
048 F010100 0
<PAGE> PAGE 6
048 F020100 0.000
048 G010100 0
048 G020100 0.000
048 H010100 0
048 H020100 0.000
048 I010100 0
048 I020100 0.000
048 J010100 0
048 J020100 0.000
048 K010100 0
048 K020100 0.000
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 Y
053 B000100 Y
053 C000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 12.3
062 D000100 20.0
062 E000100 0.0
062 F000100 6.1
062 G000100 0.0
062 H000100 0.0
062 I000100 35.8
062 J000100 11.6
062 K000100 0.0
062 L000100 15.3
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 31
063 B000100 0.0
064 A000100 N
064 B000100 N
066 A000100 N
067 000100 N
068 A000100 N
068 B000100 N
069 000100 N
070 A010100 Y
<PAGE> PAGE 7
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 Y
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 Y
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
071 C000100 0
071 D000100 0
072 A000100 6
072 B000100 41300
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 1074
072 G000100 791
072 H000100 0
072 I000100 5
072 J000100 82
072 K000100 0
072 L000100 38
<PAGE> PAGE 8
072 M000100 18
072 N000100 34
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 19
072 S000100 53
072 T000100 0
072 U000100 17
072 V000100 0
072 W000100 392
072 X000100 2523
072 Y000100 311
072 Z000100 39088
072AA000100 47
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 32106
072DD020100 966
072EE000100 0
073 A010100 0.0274
073 A020100 0.0249
073 B000100 0.0000
073 C000100 0.0000
074 A000100 697
074 B000100 310316
074 C000100 1265522
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 0
074 K000100 0
074 L000100 5243
074 M000100 125
074 N000100 1581903
074 O000100 24951
074 P000100 342
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 6444
074 S000100 0
074 T000100 1550166
074 U010100 1276306
074 U020100 38327
074 V010100 1.00
<PAGE> PAGE 9
074 V020100 1.00
074 W000100 0.9999
074 X000100 1258
074 Y000100 0
075 A000100 1440470
075 B000100 0
076 000100 0.00
008 A000201 BOATMEN'S TRUST COMPANY
008 B000201 A
008 C000201 801-000000
008 D010201 ST LOUIS
008 D020201 MO
008 D030201 63178
008 D040201 4737
012 A000201 BISYS FUND SERVICES
012 B000201 84-0000000
012 C010201 PITTSBURGH
012 C020201 PA
012 C030201 15222
024 000200 N
028 A010200 784844
028 A020200 1439
028 A030200 0
028 A040200 593986
028 B010200 737021
028 B020200 1530
028 B030200 0
028 B040200 766580
028 C010200 900788
028 C020200 1537
028 C030200 0
028 C040200 880584
028 D010200 699542
028 D020200 1460
028 D030200 0
028 D040200 800733
028 E010200 806348
028 E020200 1497
028 E030200 0
028 E040200 687974
028 F010200 1105717
028 F020200 1437
028 F030200 0
028 F040200 930671
028 G010200 5034260
028 G020200 8900
028 G030200 0
028 G040200 4660528
028 H000200 0
029 000200 N
030 A000200 0
<PAGE> PAGE 10
030 B000200 0.00
030 C000200 0.00
034 000200 N
035 000200 0
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 N
041 000200 N
042 A000200 0
042 B000200 0
042 C000200 0
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 0
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.150
048 A010200 0
048 A020200 0.000
048 B010200 0
048 B020200 0.000
048 C010200 0
048 C020200 0.000
048 D010200 0
048 D020200 0.000
048 E010200 0
048 E020200 0.000
048 F010200 0
048 F020200 0.000
048 G010200 0
048 G020200 0.000
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 0
048 K020200 0.000
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 Y
<PAGE> PAGE 11
053 B000200 Y
053 C000200 N
058 A000200 N
059 000200 Y
060 A000200 Y
060 B000200 Y
061 000200 0
062 A000200 Y
062 B000200 39.5
062 C000200 0.0
062 D000200 53.4
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.0
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 41
063 B000200 0.0
064 A000200 N
064 B000200 N
066 A000200 N
067 000200 N
068 A000200 N
068 B000200 N
069 000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
<PAGE> PAGE 12
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 6
072 B000200 47926
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 1272
072 G000200 937
072 H000200 0
072 I000200 1
072 J000200 77
072 K000200 0
072 L000200 40
072 M000200 12
072 N000200 78
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 31
072 S000200 32
072 T000200 0
072 U000200 4
072 V000200 0
072 W000200 669
072 X000200 3153
072 Y000200 370
072 Z000200 45143
072AA000200 0
072BB000200 48
<PAGE> PAGE 13
072CC010200 0
072CC020200 0
072DD010200 35911
072DD020200 3614
072EE000200 0
073 A010200 0.0269
073 A020200 0.0244
073 B000200 0.0000
073 C000200 0.0000
074 A000200 0
074 B000200 1026088
074 C000200 758321
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 188274
074 K000200 0
074 L000200 6023
074 M000200 245
074 N000200 1978952
074 O000200 50775
074 P000200 416
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 7065
074 S000200 0
074 T000200 1920696
074 U010200 1577003
074 U020200 151978
074 V010200 1.00
074 V020200 1.00
074 W000200 1.0000
074 X000200 1703
074 Y000200 0
075 A000200 1699664
075 B000200 0
076 000200 0.00
008 A000301 BOATMEN'S TRUST COMPANY
008 B000301 A
008 C000301 801-000000
008 D010301 ST LOUIS
008 D020301 MO
008 D030301 63178
008 D040301 4737
012 A000301 BISYS FUND SERVICES
012 B000301 84-0000000
<PAGE> PAGE 14
012 C010301 PITTSBURGH
012 C020301 PA
012 C030301 15222
024 000300 N
028 A010300 27374
028 A020300 183
028 A030300 0
028 A040300 35149
028 B010300 45917
028 B020300 166
028 B030300 0
028 B040300 35492
028 C010300 44604
028 C020300 165
028 C030300 0
028 C040300 44192
028 D010300 56796
028 D020300 164
028 D030300 0
028 D040300 56965
028 E010300 50785
028 E020300 199
028 E030300 0
028 E040300 46539
028 F010300 49006
028 F020300 172
028 F030300 0
028 F040300 31280
028 G010300 274482
028 G020300 1049
028 G030300 0
028 G040300 249617
028 H000300 0
029 000300 N
030 A000300 0
030 B000300 0.00
030 C000300 0.00
034 000300 N
035 000300 0
036 B000300 0
037 000300 N
038 000300 0
039 000300 N
040 000300 N
041 000300 N
042 A000300 0
042 B000300 0
042 C000300 0
042 D000300 0
042 E000300 0
042 F000300 0
<PAGE> PAGE 15
042 G000300 0
042 H000300 0
043 000300 0
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.200
048 A010300 0
048 A020300 0.000
048 B010300 0
048 B020300 0.000
048 C010300 0
048 C020300 0.000
048 D010300 0
048 D020300 0.000
048 E010300 0
048 E020300 0.000
048 F010300 0
048 F020300 0.000
048 G010300 0
048 G020300 0.000
048 H010300 0
048 H020300 0.000
048 I010300 0
048 I020300 0.000
048 J010300 0
048 J020300 0.000
048 K010300 0
048 K020300 0.000
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
058 A000300 N
059 000300 Y
060 A000300 N
060 B000300 N
061 000300 0
062 A000300 Y
062 B000300 0.0
062 C000300 0.0
062 D000300 0.0
062 E000300 97.8
062 F000300 0.0
062 G000300 0.0
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
<PAGE> PAGE 16
062 L000300 0.0
062 M000300 0.0
062 N000300 0.0
062 O000300 0.0
062 P000300 0.0
062 Q000300 0.0
062 R000300 1.7
063 A000300 42
063 B000300 0.0
064 A000300 Y
064 B000300 N
066 A000300 N
067 000300 N
068 A000300 N
068 B000300 N
069 000300 N
070 A010300 Y
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 N
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 N
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 N
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 Y
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 N
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 N
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
<PAGE> PAGE 17
070 R020300 N
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 6
072 B000300 4356
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 233
072 G000300 129
072 H000300 0
072 I000300 2
072 J000300 53
072 K000300 0
072 L000300 5
072 M000300 2
072 N000300 16
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 32
072 S000300 6
072 T000300 0
072 U000300 21
072 V000300 0
072 W000300 40
072 X000300 539
072 Y000300 0
072 Z000300 3817
072AA000300 20
072BB000300 0
072CC010300 0
072CC020300 0
072DD010300 3548
072DD020300 156
072EE000300 0
073 A010300 0.0165
073 A020300 0.0140
073 B000300 0.0000
073 C000300 0.0000
074 A000300 0
074 B000300 0
074 C000300 246950
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 4205
<PAGE> PAGE 18
074 J000300 0
074 K000300 0
074 L000300 2010
074 M000300 35
074 N000300 253200
074 O000300 0
074 P000300 67
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 587
074 S000300 0
074 T000300 252546
074 U010300 224438
074 U020300 12630
074 V010300 1.00
074 V020300 1.00
074 W000300 1.0001
074 X000300 839
074 Y000300 0
075 A000300 233965
075 B000300 0
076 000300 0.00
008 A000401 BOATMEN'S TRUST COMPANY
008 B000401 A
008 C000401 801-000000
008 D010401 ST LOUIS
008 D020401 MO
008 D030401 63178
008 D040401 4737
012 A000401 BISYS FUND SERVICES
012 B000401 84-0000000
012 C010401 PITTSBURGH
012 C020401 PA
012 C030401 15222
012 A000402 PRIMARY FUNDS SERVICES CORP.
012 B000402 84-0000000
012 C010402 QUINCY
012 C020402 MA
012 C030402 02669
012 C040402 9110
024 000400 N
028 A010400 3903
028 A020400 4
028 A030400 0
028 A040400 1027
028 B010400 2910
028 B020400 5
028 B030400 0
028 B040400 4309
<PAGE> PAGE 19
028 C010400 1736
028 C020400 6
028 C030400 0
028 C040400 577
028 D010400 1029
028 D020400 23
028 D030400 0
028 D040400 692
028 E010400 3532
028 E020400 9
028 E030400 0
028 E040400 997
028 F010400 3866
028 F020400 10
028 F030400 0
028 F040400 1529
028 G010400 16975
028 G020400 57
028 G030400 0
028 G040400 9132
028 H000400 295
029 000400 Y
030 A000400 9
030 B000400 4.50
030 C000400 0.00
031 A000400 2
031 B000400 0
032 000400 7
033 000400 0
034 000400 Y
035 000400 0
036 A000400 N
036 B000400 0
037 000400 N
038 000400 0
039 000400 N
040 000400 Y
041 000400 Y
042 A000400 0
042 B000400 0
042 C000400 0
042 D000400 100
042 E000400 0
042 F000400 0
042 G000400 0
042 H000400 0
043 000400 3
044 000400 0
045 000400 Y
046 000400 N
047 000400 Y
<PAGE> PAGE 20
048 000400 0.550
048 A010400 0
048 A020400 0.000
048 B010400 0
048 B020400 0.000
048 C010400 0
048 C020400 0.000
048 D010400 0
048 D020400 0.000
048 E010400 0
048 E020400 0.000
048 F010400 0
048 F020400 0.000
048 G010400 0
048 G020400 0.000
048 H010400 0
048 H020400 0.000
048 I010400 0
048 I020400 0.000
048 J010400 0
048 J020400 0.000
048 K010400 0
048 K020400 0.000
049 000400 N
050 000400 N
051 000400 N
052 000400 N
053 A000400 Y
053 B000400 Y
053 C000400 N
058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 1000
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 0.0
062 N000400 0.0
062 O000400 96.4
062 P000400 0.0
<PAGE> PAGE 21
062 Q000400 0.0
062 R000400 2.3
063 A000400 0
063 B000400 16.9
064 A000400 Y
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 N
070 B010400 N
070 B020400 N
070 C010400 Y
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
071 A000400 19348
071 B000400 13164
071 C000400 150464
071 D000400 9
<PAGE> PAGE 22
072 A000400 6
072 B000400 4667
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 433
072 G000400 87
072 H000400 0
072 I000400 14
072 J000400 31
072 K000400 0
072 L000400 8
072 M000400 2
072 N000400 33
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 18
072 S000400 4
072 T000400 3
072 U000400 9
072 V000400 0
072 W000400 5
072 X000400 647
072 Y000400 99
072 Z000400 4119
072AA000400 1162
072BB000400 0
072CC010400 3106
072CC020400 0
072DD010400 4095
072DD020400 12
072EE000400 479
073 A010400 0.2900
073 A020400 0.2300
073 B000400 0.0300
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 157506
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 3848
074 J000400 370
074 K000400 0
074 L000400 2514
074 M000400 73
074 N000400 164311
<PAGE> PAGE 23
074 O000400 0
074 P000400 75
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 829
074 S000400 0
074 T000400 163407
074 U010400 14749
074 U020400 82
074 V010400 10.97
074 V020400 10.92
074 W000400 0.0000
074 X000400 4
074 Y000400 0
075 A000400 0
075 B000400 150464
076 000400 0.00
008 A000501 BOATMEN'S TRUST COMPANY
008 B000501 A
008 C000501 801-000000
008 D010501 ST LOUIS
008 D020501 MO
008 D030501 63178
008 D040501 4737
012 A000501 BISYS FUND SERVICES
012 B000501 84-0000000
012 C010501 PITTSBURGH
012 C020501 PA
012 C030501 15222
012 A000502 PRIMARY FUNDS SERVICES CORP.
012 B000502 84-0000000
012 C010502 QUINCY
012 C020502 MA
012 C030502 02669
012 C040502 9110
024 000500 N
028 A010500 2292
028 A020500 1
028 A030500 0
028 A040500 2438
028 B010500 8558
028 B020500 1
028 B030500 0
028 B040500 1968
028 C010500 2052
028 C020500 3
028 C030500 0
028 C040500 1911
028 D010500 6101
<PAGE> PAGE 24
028 D020500 65
028 D030500 0
028 D040500 1199
028 E010500 5723
028 E020500 7
028 E030500 0
028 E040500 3531
028 F010500 4380
028 F020500 8
028 F030500 0
028 F040500 1718
028 G010500 29105
028 G020500 86
028 G030500 0
028 G040500 12765
028 H000500 95
029 000500 Y
030 A000500 3
030 B000500 4.00
030 C000500 0.00
031 A000500 2
031 B000500 0
032 000500 1
033 000500 0
034 000500 N
035 000500 0
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 0
042 D000500 100
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 0
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.550
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
<PAGE> PAGE 25
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 0.0
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 0.0
062 O000500 96.1
062 P000500 0.0
062 Q000500 0.0
062 R000500 3.0
063 A000500 0
063 B000500 4.8
064 A000500 Y
064 B000500 N
<PAGE> PAGE 26
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 N
070 B010500 N
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 Y
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 N
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 19486
071 B000500 6769
071 C000500 192579
071 D000500 4
072 A000500 6
072 B000500 5358
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 561
<PAGE> PAGE 27
072 G000500 113
072 H000500 0
072 I000500 16
072 J000500 25
072 K000500 0
072 L000500 9
072 M000500 3
072 N000500 43
072 O000500 0
072 P000500 0
072 Q000500 0
072 R000500 22
072 S000500 5
072 T000500 0
072 U000500 9
072 V000500 0
072 W000500 5
072 X000500 811
072 Y000500 163
072 Z000500 4711
072AA000500 268
072BB000500 0
072CC010500 1121
072CC020500 0
072DD010500 4706
072DD020500 5
072EE000500 457
073 A010500 0.2400
073 A020500 0.2300
073 B000500 0.0200
073 C000500 0.0000
074 A000500 0
074 B000500 0
074 C000500 0
074 D000500 205559
074 E000500 0
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 6227
074 J000500 0
074 K000500 0
074 L000500 2974
074 M000500 73
074 N000500 214834
074 O000500 0
074 P000500 87
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
<PAGE> PAGE 28
074 R040500 949
074 S000500 0
074 T000500 213798
074 U010500 20256
074 U020500 25
074 V010500 10.54
074 V020500 10.53
074 W000500 0.0000
074 X000500 4
074 Y000500 0
075 A000500 0
075 B000500 192579
076 000500 0.00
008 A000601 BOATMEN'S TRUST COMPANY
008 B000601 A
008 C000601 801-000000
008 D010601 ST LOUIS
008 D020601 MO
008 D030601 63178
008 D040601 4737
012 A000601 BISYS FUND SERVICES
012 B000601 84-0000000
012 C010601 PITTSBURGH
012 C020601 PA
012 C030601 15222
012 A000602 PRIMARY FUNDS SERVICES CORP.
012 B000602 84-0000000
012 C010602 QUINCY
012 C020602 MA
012 C030602 02669
012 C040602 9110
024 000600 N
028 A010600 2018
028 A020600 2
028 A030600 0
028 A040600 1679
028 B010600 781
028 B020600 3
028 B030600 0
028 B040600 892
028 C010600 4125
028 C020600 4
028 C030600 0
028 C040600 1857
028 D010600 1539
028 D020600 124
028 D030600 0
028 D040600 2272
028 E010600 1594
028 E020600 135
028 E030600 0
<PAGE> PAGE 29
028 E040600 1784
028 F010600 1877
028 F020600 4
028 F030600 0
028 F040600 995
028 G010600 11934
028 G020600 272
028 G030600 0
028 G040600 9479
028 H000600 22
029 000600 Y
030 A000600 1
030 B000600 4.50
030 C000600 0.00
031 A000600 0
031 B000600 0
032 000600 1
033 000600 0
034 000600 Y
035 000600 0
036 A000600 N
036 B000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 Y
041 000600 Y
042 A000600 0
042 B000600 0
042 C000600 0
042 D000600 100
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
043 000600 3
044 000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.550
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
<PAGE> PAGE 30
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 Y
053 B000600 Y
053 C000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 1000
062 A000600 Y
062 B000600 35.9
062 C000600 0.0
062 D000600 2.1
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 60.9
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 1.1
063 A000600 0
063 B000600 8.5
064 A000600 N
064 B000600 N
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
<PAGE> PAGE 31
070 A010600 Y
070 A020600 Y
070 B010600 N
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 N
070 L010600 Y
070 L020600 N
070 M010600 Y
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600 23302
071 B000600 54452
071 C000600 135081
071 D000600 38
072 A000600 6
072 B000600 4307
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 383
072 G000600 77
072 H000600 0
072 I000600 15
072 J000600 29
072 K000600 0
<PAGE> PAGE 32
072 L000600 8
072 M000600 2
072 N000600 31
072 O000600 0
072 P000600 0
072 Q000600 0
072 R000600 17
072 S000600 3
072 T000600 3
072 U000600 10
072 V000600 0
072 W000600 4
072 X000600 580
072 Y000600 126
072 Z000600 3853
072AA000600 5097
072BB000600 0
072CC010600 0
072CC020600 3451
072DD010600 3838
072DD020600 10
072EE000600 5586
073 A010600 0.3100
073 A020600 0.2600
073 B000600 0.4500
073 C000600 0.4500
074 A000600 1
074 B000600 2795
074 C000600 48866
074 D000600 83098
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 2268
074 M000600 73
074 N000600 137101
074 O000600 0
074 P000600 58
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 787
074 S000600 0
074 T000600 136256
074 U010600 12424
074 U020600 73
<PAGE> PAGE 33
074 V010600 10.88
074 V020600 10.88
074 W000600 0.0000
074 X000600 4
074 Y000600 0
075 A000600 0
075 B000600 135081
076 000600 0.00
008 A000701 BOATMEN'S TRUST COMPANY
008 B000701 A
008 C000701 801-000000
008 D010701 ST LOUIS
008 D020701 MO
008 D030701 63178
008 D040701 4737
012 A000701 BISYS FUND SERVICES
012 B000701 84-0000000
012 C010701 PITTSBURGH
012 C020701 PA
012 C030701 15222
012 A000702 PRIMARY FUNDS SERVICES CORP.
012 B000702 84-0000000
012 C010702 QUINCY
012 C020702 MA
012 C030702 02669
012 C040702 9110
024 000700 N
028 A010700 2287
028 A020700 4
028 A030700 0
028 A040700 700
028 B010700 1937
028 B020700 4
028 B030700 0
028 B040700 831
028 C010700 1776
028 C020700 5
028 C030700 0
028 C040700 869
028 D010700 1566
028 D020700 317
028 D030700 0
028 D040700 878
028 E010700 8515
028 E020700 6
028 E030700 0
028 E040700 576
028 F010700 2935
028 F020700 7
028 F030700 0
028 F040700 760
<PAGE> PAGE 34
028 G010700 19016
028 G020700 343
028 G030700 0
028 G040700 4614
028 H000700 198
029 000700 Y
030 A000700 7
030 B000700 4.50
030 C000700 0.00
031 A000700 1
031 B000700 0
032 000700 6
033 000700 0
034 000700 Y
035 000700 2
036 A000700 N
036 B000700 0
037 000700 N
038 000700 0
039 000700 N
040 000700 Y
041 000700 Y
042 A000700 0
042 B000700 0
042 C000700 0
042 D000700 100
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 6
044 000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.750
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
<PAGE> PAGE 35
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
048 K020700 0.000
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 Y
053 B000700 N
053 C000700 N
058 A000700 N
059 000700 Y
060 A000700 Y
060 B000700 Y
061 000700 1000
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
066 A000700 Y
066 B000700 N
066 C000700 N
066 D000700 N
066 E000700 N
066 F000700 Y
066 G000700 N
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 Y
<PAGE> PAGE 36
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 Y
070 D020700 N
070 E010700 N
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 N
070 L010700 Y
070 L020700 N
070 M010700 Y
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 N
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 N
070 R020700 N
071 A000700 43444
071 B000700 32821
071 C000700 105112
071 D000700 31
072 A000700 6
072 B000700 282
072 C000700 2304
072 D000700 0
072 E000700 0
072 F000700 418
072 G000700 62
072 H000700 0
072 I000700 14
072 J000700 34
072 K000700 0
072 L000700 8
072 M000700 1
072 N000700 26
<PAGE> PAGE 37
072 O000700 0
072 P000700 0
072 Q000700 0
072 R000700 19
072 S000700 3
072 T000700 6
072 U000700 9
072 V000700 0
072 W000700 4
072 X000700 604
072 Y000700 179
072 Z000700 2163
072AA000700 4020
072BB000700 0
072CC010700 8658
072CC020700 0
072DD010700 2138
072DD020700 16
072EE000700 2662
073 A010700 0.2300
073 A020700 0.2100
073 B000700 0.3000
073 C000700 0.0000
074 A000700 1
074 B000700 4800
074 C000700 0
074 D000700 4084
074 E000700 9739
074 F000700 105425
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 796
074 M000700 74
074 N000700 124919
074 O000700 0
074 P000700 62
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 505
074 S000700 0
074 T000700 124352
074 U010700 9849
074 U020700 130
074 V010700 12.39
074 V020700 12.47
074 W000700 0.0000
<PAGE> PAGE 38
074 X000700 186
074 Y000700 0
075 A000700 0
075 B000700 105112
076 000700 0.00
008 A000801 BOATMEN'S TRUST COMPANY
008 B000801 A
008 C000801 801-000000
008 D010801 ST LOUIS
008 D020801 MO
008 D030801 63178
008 D040801 4737
008 A000802 KLEINWORT BENSON INVESTMENT MANAGEMENT AMERIC
008 B000802 S
008 C000802 801-000000
008 D010802 NEW YORK
008 D020802 NY
008 D030802 10166
012 A000801 BISYS FUND SERVICES
012 B000801 84-0000000
012 C010801 PITTSBURGH
012 C020801 PA
012 C030801 15222
012 A000802 NATIONAL FINACIAL DATA SERVICES
012 B000802 84-0000000
012 C010802 KANSAS CITY
012 C020802 MO
012 C030802 64105
012 C040802 1807
024 000800 N
028 A010800 8209
028 A020800 2440
028 A030800 0
028 A040800 3560
028 B010800 6755
028 B020800 0
028 B030800 0
028 B040800 2944
028 C010800 7299
028 C020800 1
028 C030800 0
028 C040800 2438
028 D010800 9084
028 D020800 13900
028 D030800 0
028 D040800 2613
028 E010800 46531
028 E020800 1
028 E030800 0
028 E040800 2154
028 F010800 17930
<PAGE> PAGE 39
028 F020800 27
028 F030800 0
028 F040800 3012
028 G010800 95808
028 G020800 16369
028 G030800 0
028 G040800 16721
028 H000800 52
029 000800 Y
030 A000800 2
030 B000800 4.50
030 C000800 0.00
031 A000800 1
031 B000800 0
032 000800 1
033 000800 0
034 000800 N
035 000800 0
036 B000800 0
037 000800 N
038 000800 0
039 000800 N
040 000800 Y
041 000800 Y
042 A000800 0
042 B000800 0
042 C000800 0
042 D000800 100
042 E000800 0
042 F000800 0
042 G000800 0
042 H000800 0
043 000800 34
044 000800 0
045 000800 Y
046 000800 N
047 000800 Y
048 000800 0.000
048 A010800 325000
048 A020800 0.400
048 B010800 0
048 B020800 0.000
048 C010800 0
048 C020800 0.000
048 D010800 0
048 D020800 0.000
048 E010800 0
048 E020800 0.000
048 F010800 0
048 F020800 0.000
048 G010800 0
<PAGE> PAGE 40
048 G020800 0.000
048 H010800 0
048 H020800 0.000
048 I010800 0
048 I020800 0.000
048 J010800 0
048 J020800 0.000
048 K010800 325001
048 K020800 0.250
049 000800 N
050 000800 N
051 000800 N
052 000800 N
053 A000800 N
058 A000800 N
059 000800 Y
060 A000800 Y
060 B000800 Y
061 000800 1000
062 A000800 N
062 B000800 0.0
062 C000800 0.0
062 D000800 0.0
062 E000800 0.0
062 F000800 0.0
062 G000800 0.0
062 H000800 0.0
062 I000800 0.0
062 J000800 0.0
062 K000800 0.0
062 L000800 0.0
062 M000800 0.0
062 N000800 0.0
062 O000800 0.0
062 P000800 0.0
062 Q000800 0.0
062 R000800 0.0
066 A000800 Y
066 B000800 N
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
<PAGE> PAGE 41
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 N
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
071 A000800 134125
071 B000800 49097
071 C000800 397155
071 D000800 12
072 A000800 6
072 B000800 571
072 C000800 1932
072 D000800 0
072 E000800 0
072 F000800 1668
072 G000800 230
072 H000800 0
072 I000800 24
072 J000800 238
072 K000800 0
072 L000800 33
072 M000800 4
072 N000800 21
<PAGE> PAGE 42
072 O000800 0
072 P000800 0
072 Q000800 0
072 R000800 44
072 S000800 5
072 T000800 0
072 U000800 12
072 V000800 0
072 W000800 46
072 X000800 2325
072 Y000800 0
072 Z000800 178
072AA000800 10873
072BB000800 0
072CC010800 13931
072CC020800 0
072DD010800 11113
072DD020800 766
072EE000800 9019
073 A010800 0.0800
073 A020800 0.0800
073 B000800 0.3900
073 C000800 0.3800
074 A000800 481
074 B000800 0
074 C000800 16722
074 D000800 0
074 E000800 0
074 F000800 471559
074 G000800 0
074 H000800 0
074 I000800 0
074 J000800 249
074 K000800 0
074 L000800 3037
074 M000800 245
074 N000800 492293
074 O000800 1590
074 P000800 47
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 929
074 S000800 0
074 T000800 489727
074 U010800 28371
074 U020800 1635
074 V010800 16.33
074 V020800 16.21
074 W000800 0.0000
<PAGE> PAGE 43
074 X000800 1135
074 Y000800 0
075 A000800 0
075 B000800 3971555
076 000800 0.00
008 A000901 BOATMEN'S TRUST COMPANY
008 B000901 A
008 C000901 801-000000
008 D010901 ST LOUIS
008 D020901 MO
008 D030901 63178
008 D040901 4737
012 A000901 BISYS FUND SERVICES
012 B000901 84-0000000
012 C010901 PITTSBURGH
012 C020901 PA
012 C030901 15222
012 A000902 PRIMARY FUNDS SERVICES CORP.
012 B000902 84-0000000
012 C010902 QUINCY
012 C020902 MA
012 C030902 02669
012 C040902 9110
024 000900 N
028 A010900 30978
028 A020900 29
028 A030900 0
028 A040900 42606
028 B010900 49065
028 B020900 38
028 B030900 0
028 B040900 43179
028 C010900 39006
028 C020900 38
028 C030900 0
028 C040900 44445
028 D010900 24146
028 D020900 35
028 D030900 0
028 D040900 32409
028 E010900 38042
028 E020900 39
028 E030900 0
028 E040900 61095
028 F010900 48371
028 F020900 34
028 F030900 0
028 F040900 33021
028 G010900 229605
028 G020900 213
028 G030900 0
<PAGE> PAGE 44
028 G040900 256755
028 H000900 0
029 000900 N
030 A000900 0
030 B000900 0.00
030 C000900 0.00
034 000900 N
035 000900 0
036 B000900 0
037 000900 N
038 000900 0
039 000900 N
040 000900 N
041 000900 N
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 0
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 0
043 000900 0
044 000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.200
048 A010900 0
048 A020900 0.000
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
049 000900 N
<PAGE> PAGE 45
050 000900 N
051 000900 N
052 000900 N
053 A000900 Y
053 B000900 Y
053 C000900 N
058 A000900 N
059 000900 Y
060 A000900 Y
060 B000900 Y
061 000900 0
062 A000900 Y
062 B000900 0.0
062 C000900 0.0
062 D000900 0.0
062 E000900 100.3
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.4
062 M000900 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 0.0
062 Q000900 0.0
062 R000900 0.0
063 A000900 42
063 B000900 0.0
064 A000900 Y
064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 N
070 B010900 N
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
<PAGE> PAGE 46
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
071 A000900 0
071 B000900 0
071 C000900 0
071 D000900 0
072 A000900 6
072 B000900 7479
072 C000900 0
072 D000900 0
072 E000900 0
072 F000900 397
072 G000900 219
072 H000900 0
072 I000900 1
072 J000900 19
072 K000900 0
072 L000900 11
072 M000900 3
072 N000900 19
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 30
072 S000900 8
072 T000900 0
072 U000900 7
072 V000900 0
072 W000900 106
072 X000900 820
<PAGE> PAGE 47
072 Y000900 87
072 Z000900 6746
072AA000900 21
072BB000900 0
072CC010900 0
072CC020900 0
072DD010900 6533
072DD020900 0
072EE000900 0
073 A010900 0.0169
073 A020900 0.0144
073 B000900 0.0000
073 C000900 0.0000
074 A000900 0
074 B000900 0
074 C000900 386382
074 D000900 0
074 E000900 0
074 F000900 0
074 G000900 0
074 H000900 0
074 I000900 1787
074 J000900 0
074 K000900 0
074 L000900 2696
074 M000900 116
074 N000900 390981
074 O000900 4592
074 P000900 85
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 986
074 S000900 0
074 T000900 385318
074 U010900 370729
074 U020900 5
074 V010900 1.00
074 V020900 1.00
074 W000900 1.0003
074 X000900 37
074 Y000900 0
075 A000900 399427
075 B000900 0
076 000900 0.00
008 A001001 BOATMEN'S TRUST COMPANY
008 B001001 A
008 C001001 801-000000
008 D011001 ST LOUIS
008 D021001 MO
<PAGE> PAGE 48
008 D031001 63178
008 D041001 4737
012 A001001 BISYS FUND SERVICES
012 B001001 84-0000000
012 C011001 PITTSBURGH
012 C021001 PA
012 C031001 15222
012 A001002 PRIMARY FUNDS SERVICES CORP.
012 B001002 84-0000000
012 C011002 QUINCY
012 C021002 MA
012 C031002 02669
012 C041002 9110
024 001000 N
028 A011000 11625
028 A021000 12
028 A031000 0
028 A041000 477
028 B011000 5454
028 B021000 6
028 B031000 0
028 B041000 947
028 C011000 4343
028 C021000 11
028 C031000 0
028 C041000 1456
028 D011000 9078
028 D021000 861
028 D031000 0
028 D041000 2681
028 E011000 5724
028 E021000 10
028 E031000 0
028 E041000 783
028 F011000 8946
028 F021000 12
028 F031000 0
028 F041000 1351
028 G011000 45168
028 G021000 912
028 G031000 0
028 G041000 7695
028 H001000 479
029 001000 Y
030 A001000 19
030 B001000 4.50
030 C001000 0.00
031 A001000 11
031 B001000 0
032 001000 8
033 001000 0
<PAGE> PAGE 49
034 001000 Y
035 001000 0
036 A001000 N
036 B001000 0
037 001000 N
038 001000 0
039 001000 N
040 001000 Y
041 001000 Y
042 A001000 0
042 B001000 0
042 C001000 0
042 D001000 100
042 E001000 0
042 F001000 0
042 G001000 0
042 H001000 0
043 001000 8
044 001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 0.750
048 A011000 0
048 A021000 0.000
048 B011000 0
048 B021000 0.000
048 C011000 0
048 C021000 0.000
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 0
048 K021000 0.000
049 001000 N
050 001000 N
051 001000 N
052 001000 N
053 A001000 Y
053 B001000 Y
<PAGE> PAGE 50
053 C001000 N
058 A001000 N
059 001000 Y
060 A001000 Y
060 B001000 Y
061 001000 1000
062 A001000 N
062 B001000 0.0
062 C001000 0.0
062 D001000 0.0
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 0.0
062 N001000 0.0
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
066 A001000 Y
066 B001000 N
066 C001000 N
066 D001000 N
066 E001000 Y
066 F001000 N
066 G001000 N
067 001000 Y
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 Y
070 A021000 N
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
070 E011000 N
070 E021000 N
070 F011000 Y
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 Y
070 H021000 N
<PAGE> PAGE 51
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 N
070 L011000 Y
070 L021000 Y
070 M011000 Y
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 N
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000 64335
071 B001000 33040
071 C001000 126464
071 D001000 26
072 A001000 6
072 B001000 162
072 C001000 1514
072 D001000 0
072 E001000 0
072 F001000 515
072 G001000 76
072 H001000 0
072 I001000 16
072 J001000 32
072 K001000 0
072 L001000 8
072 M001000 1
072 N001000 26
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 17
072 S001000 3
072 T001000 8
072 U001000 9
072 V001000 0
072 W001000 4
072 X001000 715
072 Y001000 200
072 Z001000 1162
072AA001000 5139
<PAGE> PAGE 52
072BB001000 0
072CC011000 9135
072CC021000 0
072DD011000 1149
072DD021000 4
072EE001000 3103
073 A011000 0.1000
073 A021000 0.0400
073 B001000 0.2800
073 C001000 0.0000
074 A001000 0
074 B001000 9241
074 C001000 0
074 D001000 0
074 E001000 0
074 F001000 151795
074 G001000 0
074 H001000 0
074 I001000 0
074 J001000 0
074 K001000 0
074 L001000 874
074 M001000 73
074 N001000 161983
074 O001000 1292
074 P001000 81
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 332
074 S001000 0
074 T001000 160278
074 U011000 12385
074 U021000 156
074 V011000 12.64
074 V021000 12.65
074 W001000 0.0000
074 X001000 15
074 Y001000 0
075 A001000 0
075 B001000 126464
076 001000 0.00
008 A001101 BOATMEN'S TRUST COMPANY
008 B001101 A
008 C001101 801-000000
008 D011101 ST LOUIS
008 D021101 MO
008 D031101 63178
008 D041101 4737
012 A001101 BISYS FUND SERVICES
<PAGE> PAGE 53
012 B001101 84-0000000
012 C011101 PITTSBURGH
012 C021101 PA
012 C031101 15222
012 A001102 PRIMARY FUNDS SERVICES CORP.
012 B001102 84-0000000
012 C011102 QUINCY
012 C021102 MA
012 C031102 02669
012 C041102 9110
024 001100 N
028 A011100 10869
028 A021100 8
028 A031100 0
028 A041100 2036
028 B011100 9051
028 B021100 8
028 B031100 0
028 B041100 1659
028 C011100 7325
028 C021100 11
028 C031100 0
028 C041100 2616
028 D011100 6675
028 D021100 304
028 D031100 0
028 D041100 3390
028 E011100 10340
028 E021100 13
028 E031100 0
028 E041100 2668
028 F011100 19669
028 F021100 11
028 F031100 0
028 F041100 3759
028 G011100 63929
028 G021100 355
028 G031100 0
028 G041100 16128
028 H001100 83
029 001100 Y
030 A001100 3
030 B001100 4.50
030 C001100 0.00
031 A001100 1
031 B001100 0
032 001100 2
033 001100 0
034 001100 N
035 001100 0
036 B001100 0
<PAGE> PAGE 54
037 001100 N
038 001100 0
039 001100 N
040 001100 Y
041 001100 Y
042 A001100 0
042 B001100 0
042 C001100 0
042 D001100 100
042 E001100 0
042 F001100 0
042 G001100 0
042 H001100 0
043 001100 1
044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
048 001100 0.550
048 A011100 0
048 A021100 0.000
048 B011100 0
048 B021100 0.000
048 C011100 0
048 C021100 0.000
048 D011100 0
048 D021100 0.000
048 E011100 0
048 E021100 0.000
048 F011100 0
048 F021100 0.000
048 G011100 0
048 G021100 0.000
048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 0
048 K021100 0.000
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 Y
053 B001100 Y
053 C001100 N
058 A001100 N
059 001100 Y
060 A001100 Y
<PAGE> PAGE 55
060 B001100 Y
061 001100 1000
062 A001100 Y
062 B001100 0.0
062 C001100 0.0
062 D001100 4.1
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
062 M001100 79.4
062 N001100 0.0
062 O001100 0.0
062 P001100 11.8
062 Q001100 6.8
062 R001100 0.0
063 A001100 0
063 B001100 4.0
064 A001100 N
064 B001100 N
066 A001100 N
067 001100 N
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 Y
070 B011100 N
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 N
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 N
<PAGE> PAGE 56
070 L011100 Y
070 L021100 N
070 M011100 Y
070 M021100 N
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 126822
071 B001100 79406
071 C001100 182087
071 D001100 44
072 A001100 6
072 B001100 6170
072 C001100 0
072 D001100 0
072 E001100 0
072 F001100 514
072 G001100 103
072 H001100 0
072 I001100 14
072 J001100 25
072 K001100 0
072 L001100 8
072 M001100 2
072 N001100 34
072 O001100 0
072 P001100 0
072 Q001100 0
072 R001100 18
072 S001100 5
072 T001100 1
072 U001100 9
072 V001100 0
072 W001100 5
072 X001100 738
072 Y001100 198
072 Z001100 5630
072AA001100 3037
072BB001100 0
072CC011100 0
072CC021100 2964
072DD011100 5613
072DD021100 18
072EE001100 920
<PAGE> PAGE 57
073 A011100 0.3200
073 A021100 0.3100
073 B001100 0.0500
073 C001100 0.0000
074 A001100 0
074 B001100 8714
074 C001100 0
074 D001100 208898
074 E001100 0
074 F001100 0
074 G001100 0
074 H001100 0
074 I001100 0
074 J001100 0
074 K001100 0
074 L001100 2410
074 M001100 73
074 N001100 220095
074 O001100 5725
074 P001100 76
074 Q001100 0
074 R011100 0
074 R021100 0
074 R031100 0
074 R041100 1047
074 S001100 0
074 T001100 213247
074 U011100 20395
074 U021100 65
074 V011100 10.42
074 V021100 10.42
074 W001100 0.0000
074 X001100 15
074 Y001100 0
075 A001100 0
075 B001100 182087
076 001100 0.00
008 A001201 BOATMEN'S TRUST COMPANY
008 B001201 A
008 C001201 801-000000
008 D011201 ST LOUIS
008 D021201 MO
008 D031201 63178
008 D041201 4737
012 A001201 BISYS FUND SERVICES
012 B001201 84-0000000
012 C011201 PITTSBURGH
012 C021201 PA
012 C031201 15222
012 A001202 BISYS FUND SERVICES
012 B001202 84-0000000
<PAGE> PAGE 58
012 C011202 COLUMBUS
012 C021202 OH
012 C031202 43219
024 001200 N
028 A011200 0
028 A021200 0
028 A031200 0
028 A041200 0
028 B011200 0
028 B021200 0
028 B031200 0
028 B041200 0
028 C011200 0
028 C021200 0
028 C031200 0
028 C041200 0
028 D011200 14041
028 D021200 14
028 D031200 0
028 D041200 66
028 E011200 7841
028 E021200 16
028 E031200 0
028 E041200 15
028 F011200 6991
028 F021200 15
028 F031200 0
028 F041200 105
028 G011200 28873
028 G021200 45
028 G031200 0
028 G041200 186
028 H001200 347
029 001200 Y
030 A001200 15
030 B001200 4.50
030 C001200 0.00
031 A001200 0
031 B001200 0
032 001200 15
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
<PAGE> PAGE 59
042 B001200 0
042 C001200 0
042 D001200 100
042 E001200 0
042 F001200 0
042 G001200 0
042 H001200 0
043 001200 0
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
<PAGE> PAGE 60
062 E001200 0.0
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
066 A001200 Y
066 B001200 N
066 C001200 Y
066 D001200 N
066 E001200 N
066 F001200 N
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
070 M021200 N
<PAGE> PAGE 61
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 23302
071 B001200 311
071 C001200 13652
071 D001200 2
072 A001200 3
072 B001200 76
072 C001200 37
072 D001200 0
072 E001200 0
072 F001200 40
072 G001200 4
072 H001200 0
072 I001200 0
072 J001200 13
072 K001200 0
072 L001200 3
072 M001200 0
072 N001200 18
072 O001200 0
072 P001200 0
072 Q001200 0
072 R001200 4
072 S001200 2
072 T001200 0
072 U001200 1
072 V001200 0
072 W001200 1
072 X001200 86
072 Y001200 45
072 Z001200 72
072AA001200 143
072BB001200 0
072CC011200 561
072CC021200 0
072DD011200 72
072DD021200 0
072EE001200 0
073 A011200 0.0400
073 A021200 0.0100
073 B001200 0.0000
073 C001200 0.0000
<PAGE> PAGE 62
074 A001200 0
074 B001200 5571
074 C001200 0
074 D001200 0
074 E001200 0
074 F001200 23708
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 0
074 K001200 0
074 L001200 235
074 M001200 39
074 N001200 29553
074 O001200 0
074 P001200 31
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 86
074 S001200 0
074 T001200 29436
074 U011200 2817
074 U021200 40
074 V011200 10.18
074 V021200 10.20
074 W001200 0.0000
074 X001200 208
074 Y001200 0
075 A001200 0
075 B001200 13652
076 001200 0.00
SIGNATURE PRATIK H. DALAL
TITLE FINANCIAL ANALYST
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 11
<NAME> PILOT SHORT-TERM DIVERSIFIED ASSETS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 1575837944
<INVESTMENTS-AT-VALUE> 1575837944
<RECEIVABLES> 5242638
<ASSETS-OTHER> 822725
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1581903307
<PAYABLE-FOR-SECURITIES> 24951172
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6785760
<TOTAL-LIABILITIES> 31736932
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1550040634
<SHARES-COMMON-STOCK> 1276305999<F1>
<SHARES-COMMON-PRIOR> 1056565783<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 125741
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1550166375
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 41300313
<OTHER-INCOME> 0
<EXPENSES-NET> 2212044
<NET-INVESTMENT-INCOME> 39088269
<REALIZED-GAINS-CURRENT> 47091
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 39135360
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 32105902<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 914972000<F1>
<NUMBER-OF-SHARES-REDEEMED> 695258000<F1>
<SHARES-REINVESTED> 26000<F1>
<NET-CHANGE-IN-ASSETS> 227906531
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 78650
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1074170
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2523040
<AVERAGE-NET-ASSETS> 1172216504<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> .260<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> 12
<NAME> PILOT SHORT-TERM DIVERSIFIED ASSETS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 1575837944
<INVESTMENTS-AT-VALUE> 1575937944
<RECEIVABLES> 5242638
<ASSETS-OTHER> 822725
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1581903307
<PAYABLE-FOR-SECURITIES> 24951172
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6785760
<TOTAL-LIABILITIES> 31736932
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1550040634
<SHARES-COMMON-STOCK> 235407954<F1>
<SHARES-COMMON-PRIOR> 231669742<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 125741
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1550166375
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 41300313
<OTHER-INCOME> 0
<EXPENSES-NET> 2212044
<NET-INVESTMENT-INCOME> 39088269
<REALIZED-GAINS-CURRENT> 47091
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 39135360
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6015952<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1554386000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1556073000<F1>
<SHARES-REINVESTED> 5425000<F1>
<NET-CHANGE-IN-ASSETS> 227906531
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 78650
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1074170
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2523040
<AVERAGE-NET-ASSETS> 229478264<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .026<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .026<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .510<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> 13
<NAME> PILOT SHORT-TERM DIVERSIFIED ASSETS FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 1575837944
<INVESTMENTS-AT-VALUE> 1575837944
<RECEIVABLES> 5242638
<ASSETS-OTHER> 822725
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1581903307
<PAYABLE-FOR-SECURITIES> 24951172
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 6785760
<TOTAL-LIABILITIES> 31736932
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1550040634
<SHARES-COMMON-STOCK> 38326681<F1>
<SHARES-COMMON-PRIOR> 33945669<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 125741
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1550166375
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 41300313
<OTHER-INCOME> 0
<EXPENSES-NET> 2212044
<NET-INVESTMENT-INCOME> 39088269
<REALIZED-GAINS-CURRENT> 47091
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 39135360
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 966415<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 311005000<F1>
<NUMBER-OF-SHARES-REDEEMED> 307580000<F1>
<SHARES-REINVESTED> 956000<F1>
<NET-CHANGE-IN-ASSETS> 227906531
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 78650
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1074170
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2523040
<AVERAGE-NET-ASSETS> 38775481<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .025<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .025<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .760<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Investor Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 21
<NAME> PILOT SHORT-TERM U.S. TREASURY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 1784408908
<INVESTMENTS-AT-VALUE> 1784408908
<RECEIVABLES> 194297746
<ASSETS-OTHER> 245190
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1978951844
<PAYABLE-FOR-SECURITIES> 50774966
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7481332
<TOTAL-LIABILITIES> 58256298
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1920890007
<SHARES-COMMON-STOCK> 1577003353<F1>
<SHARES-COMMON-PRIOR> 1191556006<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 194461
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1920695546
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 47925791
<OTHER-INCOME> 0
<EXPENSES-NET> 2782343
<NET-INVESTMENT-INCOME> 45143448
<REALIZED-GAINS-CURRENT> (47505)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 45095943
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 35911213<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1735613000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1350254000<F1>
<SHARES-REINVESTED> 88000<F1>
<NET-CHANGE-IN-ASSETS> 382581691
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 146956
<GROSS-ADVISORY-FEES> 1272398
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3152956
<AVERAGE-NET-ASSETS> 1332363912<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> .250<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> 22
<NAME> PILOT SHORT-TERM U.S. TREASURY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 1784408908
<INVESTMENTS-AT-VALUE> 1784408908
<RECEIVABLES> 194297746
<ASSETS-OTHER> 245190
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1978951844
<PAYABLE-FOR-SECURITIES> 50774966
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7481332
<TOTAL-LIABILITIES> 58256298
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1920890007
<SHARES-COMMON-STOCK> 191908233<F1>
<SHARES-COMMON-PRIOR> 215612393<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 194461
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1920695546
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 47925791
<OTHER-INCOME> 0
<EXPENSES-NET> 2782343
<NET-INVESTMENT-INCOME> 45143448
<REALIZED-GAINS-CURRENT> (47505)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 45095943
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5617920<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2071048000<F1>
<NUMBER-OF-SHARES-REDEEMED> 2099939000<F1>
<SHARES-REINVESTED> 5187000<F1>
<NET-CHANGE-IN-ASSETS> 382581691
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 146956
<GROSS-ADVISORY-FEES> 1272398
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3152956
<AVERAGE-NET-ASSETS> 216864292<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .026<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .026<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .500<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> 23
<NAME> PILOT SHORT-TERM U.S. TREASURY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 1784408908
<INVESTMENTS-AT-VALUE> 1784408908
<RECEIVABLES> 194297746
<ASSETS-OTHER> 245190
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1978951844
<PAYABLE-FOR-SECURITIES> 50774966
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 7481332
<TOTAL-LIABILITIES> 58256298
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1920890007
<SHARES-COMMON-STOCK> 151978421<F1>
<SHARES-COMMON-PRIOR> 131092406<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 194461
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 1920695546
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 47925791
<OTHER-INCOME> 0
<EXPENSES-NET> 2782343
<NET-INVESTMENT-INCOME> 45143448
<REALIZED-GAINS-CURRENT> (47505)
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 45095943
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3614321<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1227597000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1210335000<F1>
<SHARES-REINVESTED> 3624000<F1>
<NET-CHANGE-IN-ASSETS> 382581691
<ACCUMULATED-NII-PRIOR> 6
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 146956
<GROSS-ADVISORY-FEES> 1272398
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3152956
<AVERAGE-NET-ASSETS> 148479131<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .024<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .024<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .750<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Investor 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> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 251155277
<INVESTMENTS-AT-VALUE> 251155277
<RECEIVABLES> 2009481
<ASSETS-OTHER> 35281
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 253200039
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 653918
<TOTAL-LIABILITIES> 653918
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 252563409
<SHARES-COMMON-STOCK> 224437605<F1>
<SHARES-COMMON-PRIOR> 210867457<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 17288
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 252546121
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4355555
<OTHER-INCOME> 0
<EXPENSES-NET> 538814
<NET-INVESTMENT-INCOME> 3816741
<REALIZED-GAINS-CURRENT> 19842
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3836583
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3548499<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 190129000<F1>
<NUMBER-OF-SHARES-REDEEMED> 177350000<F1>
<SHARES-REINVESTED> 791000<F1>
<NET-CHANGE-IN-ASSETS> 25935534
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 37130
<GROSS-ADVISORY-FEES> 232888
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 538814
<AVERAGE-NET-ASSETS> 215389883<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .017<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .017<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>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 32
<NAME> PILOT MISSOURI SHORT-TERM TAX-EXEMPT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 251155277
<INVESTMENTS-AT-VALUE> 251155277
<RECEIVABLES> 2009481
<ASSETS-OTHER> 35281
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 253200039
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 653918
<TOTAL-LIABILITIES> 653918
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 252563409
<SHARES-COMMON-STOCK> 15495466<F1>
<SHARES-COMMON-PRIOR> 4556323<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 17288
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 252546121
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4355555
<OTHER-INCOME> 0
<EXPENSES-NET> 538814
<NET-INVESTMENT-INCOME> 3816741
<REALIZED-GAINS-CURRENT> 19842
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3836583
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 110647<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 46172000<F1>
<NUMBER-OF-SHARES-REDEEMED> 35330000<F1>
<SHARES-REINVESTED> 97000<F1>
<NET-CHANGE-IN-ASSETS> 25935534
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 37130
<GROSS-ADVISORY-FEES> 232888
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 538814
<AVERAGE-NET-ASSETS> 7335400<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .015<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .015<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> 33
<NAME> PILOT MISSOURI SHORT-TERM TAX-EXEMPT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 251155277
<INVESTMENTS-AT-VALUE> 251155277
<RECEIVABLES> 2009481
<ASSETS-OTHER> 35281
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 253200039
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 653918
<TOTAL-LIABILITIES> 653918
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 252563409
<SHARES-COMMON-STOCK> 12630338<F1>
<SHARES-COMMON-PRIOR> 11223937<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 17288
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 252546121
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4355555
<OTHER-INCOME> 0
<EXPENSES-NET> 538814
<NET-INVESTMENT-INCOME> 3816741
<REALIZED-GAINS-CURRENT> 19842
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3836583
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 157595<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 38180000<F1>
<NUMBER-OF-SHARES-REDEEMED> 36936000<F1>
<SHARES-REINVESTED> 162000<F1>
<NET-CHANGE-IN-ASSETS> 25935534
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 37130
<GROSS-ADVISORY-FEES> 232888
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 538814
<AVERAGE-NET-ASSETS> 11240167<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .014<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .014<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>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 41
<NAME> PILOT MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 149256165
<INVESTMENTS-AT-VALUE> 161354012
<RECEIVABLES> 2884281
<ASSETS-OTHER> 73092
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 164311385
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 904057
<TOTAL-LIABILITIES> 904057
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150295823
<SHARES-COMMON-STOCK> 14748797<F1>
<SHARES-COMMON-PRIOR> 14102794<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1013658
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12097847
<NET-ASSETS> 163407328
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4666896
<OTHER-INCOME> 0
<EXPENSES-NET> 548229
<NET-INVESTMENT-INCOME> 4118667
<REALIZED-GAINS-CURRENT> 1161675
<APPREC-INCREASE-CURRENT> 3106415
<NET-CHANGE-FROM-OPS> 8386757
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4095297<F1>
<DISTRIBUTIONS-OF-GAINS> 478674<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1478000<F1>
<NUMBER-OF-SHARES-REDEEMED> 835000<F1>
<SHARES-REINVESTED> 3000<F1>
<NET-CHANGE-IN-ASSETS> 11686162
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333880
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 432695
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 647346
<AVERAGE-NET-ASSETS> 157215292<F1>
<PER-SHARE-NAV-BEGIN> 10.700<F1>
<PER-SHARE-NII> .290<F1>
<PER-SHARE-GAIN-APPREC> .300<F1>
<PER-SHARE-DIVIDEND> .290<F1>
<PER-SHARE-DISTRIBUTIONS> .030<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.970<F1>
<EXPENSE-RATIO> .690<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> 42
<NAME> PILOT MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 149256165
<INVESTMENTS-AT-VALUE> 161354012
<RECEIVABLES> 2884281
<ASSETS-OTHER> 73092
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 164311385
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 904057
<TOTAL-LIABILITIES> 904057
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150295823
<SHARES-COMMON-STOCK> 65031<F1>
<SHARES-COMMON-PRIOR> 31743<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1013658
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12097847
<NET-ASSETS> 163407328
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4666896
<OTHER-INCOME> 0
<EXPENSES-NET> 548229
<NET-INVESTMENT-INCOME> 4118667
<REALIZED-GAINS-CURRENT> 1161675
<APPREC-INCREASE-CURRENT> 3106415
<NET-CHANGE-FROM-OPS> 8386757
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11418<F1>
<DISTRIBUTIONS-OF-GAINS> 1491<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 34000<F1>
<NUMBER-OF-SHARES-REDEEMED> 2000<F1>
<SHARES-REINVESTED> 1000<F1>
<NET-CHANGE-IN-ASSETS> 11686162
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333880
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 432695
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 647346
<AVERAGE-NET-ASSETS> 456387<F1>
<PER-SHARE-NAV-BEGIN> 10.700<F1>
<PER-SHARE-NII> .270<F1>
<PER-SHARE-GAIN-APPREC> .290<F1>
<PER-SHARE-DIVIDEND> .270<F1>
<PER-SHARE-DISTRIBUTIONS> .030<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.960<F1>
<EXPENSE-RATIO> .890<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> 43
<NAME> PILOT MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 149256165
<INVESTMENTS-AT-VALUE> 161354012
<RECEIVABLES> 2884281
<ASSETS-OTHER> 73092
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 164311385
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 904057
<TOTAL-LIABILITIES> 904057
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150295823
<SHARES-COMMON-STOCK> 82141<F1>
<SHARES-COMMON-PRIOR> 42017<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1013658
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12097847
<NET-ASSETS> 163407328
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4666896
<OTHER-INCOME> 0
<EXPENSES-NET> 548229
<NET-INVESTMENT-INCOME> 4118667
<REALIZED-GAINS-CURRENT> 1161675
<APPREC-INCREASE-CURRENT> 3106415
<NET-CHANGE-FROM-OPS> 8386757
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 11952<F1>
<DISTRIBUTIONS-OF-GAINS> 1732<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 39000<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 1000<F1>
<NET-CHANGE-IN-ASSETS> 11686162
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333880
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 432695
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 647346
<AVERAGE-NET-ASSETS> 568449<F1>
<PER-SHARE-NAV-BEGIN> 10.650<F1>
<PER-SHARE-NII> .230<F1>
<PER-SHARE-GAIN-APPREC> .300<F1>
<PER-SHARE-DIVIDEND> .230<F1>
<PER-SHARE-DISTRIBUTIONS> .030<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.920<F1>
<EXPENSE-RATIO> 1.690<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B 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> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 201830572
<INVESTMENTS-AT-VALUE> 211786043
<RECEIVABLES> 2974398
<ASSETS-OTHER> 73406
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 214833847
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1035553
<TOTAL-LIABILITIES> 1035553
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 203699081
<SHARES-COMMON-STOCK> 20255693<F1>
<SHARES-COMMON-PRIOR> 18702336<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 143742
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9955471
<NET-ASSETS> 213798294
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5358391
<OTHER-INCOME> 0
<EXPENSES-NET> 647276
<NET-INVESTMENT-INCOME> 4711115
<REALIZED-GAINS-CURRENT> 268499
<APPREC-INCREASE-CURRENT> 1120660
<NET-CHANGE-FROM-OPS> 6100274
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4705873<F1>
<DISTRIBUTIONS-OF-GAINS> 457443<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2734000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1189000<F1>
<SHARES-REINVESTED> 8000<F1>
<NET-CHANGE-IN-ASSETS> 17356864
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333078
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 560694
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 810697
<AVERAGE-NET-ASSETS> 204951890<F1>
<PER-SHARE-NAV-BEGIN> 10.490<F1>
<PER-SHARE-NII> .240<F1>
<PER-SHARE-GAIN-APPREC> .070<F1>
<PER-SHARE-DIVIDEND> .240<F1>
<PER-SHARE-DISTRIBUTIONS> .020<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.540<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> 52
<NAME> PILOT INTERMEDIATE MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 201830572
<INVESTMENTS-AT-VALUE> 211786043
<RECEIVABLES> 2974398
<ASSETS-OTHER> 73406
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 214833847
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1035553
<TOTAL-LIABILITIES> 1035553
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 203699081
<SHARES-COMMON-STOCK> 24696<F1>
<SHARES-COMMON-PRIOR> 22167<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 143742
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 9955471
<NET-ASSETS> 213798294
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5358391
<OTHER-INCOME> 0
<EXPENSES-NET> 647276
<NET-INVESTMENT-INCOME> 4711115
<REALIZED-GAINS-CURRENT> 268499
<APPREC-INCREASE-CURRENT> 1120660
<NET-CHANGE-FROM-OPS> 6100274
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5242<F1>
<DISTRIBUTIONS-OF-GAINS> 392<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 25000<F1>
<NUMBER-OF-SHARES-REDEEMED> 22000<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 17356864
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 333078
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 560694
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 810697
<AVERAGE-NET-ASSETS> 236216<F1>
<PER-SHARE-NAV-BEGIN> 10.490<F1>
<PER-SHARE-NII> .230<F1>
<PER-SHARE-GAIN-APPREC> .060<F1>
<PER-SHARE-DIVIDEND> .230<F1>
<PER-SHARE-DISTRIBUTIONS> .020<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.530<F1>
<EXPENSE-RATIO> .780<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> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 129770623
<INVESTMENTS-AT-VALUE> 134759418
<RECEIVABLES> 2268157
<ASSETS-OTHER> 73387
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 137100962
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 845374
<TOTAL-LIABILITIES> 845374
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 126169349
<SHARES-COMMON-STOCK> 12423556<F1>
<SHARES-COMMON-PRIOR> 12256939<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5097444
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4988795
<NET-ASSETS> 136255588
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4306731
<OTHER-INCOME> 0
<EXPENSES-NET> 454104
<NET-INVESTMENT-INCOME> 3852627
<REALIZED-GAINS-CURRENT> 5097444
<APPREC-INCREASE-CURRENT> (3451414)
<NET-CHANGE-FROM-OPS> 5498657
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3838029<F1>
<DISTRIBUTIONS-OF-GAINS> 5585839<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 969000<F1>
<NUMBER-OF-SHARES-REDEEMED> 823000<F1>
<SHARES-REINVESTED> 21000<F1>
<NET-CHANGE-IN-ASSETS> (1238021)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5611049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 382624
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 580486
<AVERAGE-NET-ASSETS> 139295396<F1>
<PER-SHARE-NAV-BEGIN> 11.200<F1>
<PER-SHARE-NII> .310<F1>
<PER-SHARE-GAIN-APPREC> .130<F1>
<PER-SHARE-DIVIDEND> .310<F1>
<PER-SHARE-DISTRIBUTIONS> .450<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.880<F1>
<EXPENSE-RATIO> .650<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> 62
<NAME> PILOT U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 129770623
<INVESTMENTS-AT-VALUE> 134759418
<RECEIVABLES> 2268157
<ASSETS-OTHER> 73387
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 137100962
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 845374
<TOTAL-LIABILITIES> 845374
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 126169349
<SHARES-COMMON-STOCK> 21526<F1>
<SHARES-COMMON-PRIOR> 7743<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5097444
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4988795
<NET-ASSETS> 136255588
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4306731
<OTHER-INCOME> 0
<EXPENSES-NET> 454104
<NET-INVESTMENT-INCOME> 3852627
<REALIZED-GAINS-CURRENT> 5097444
<APPREC-INCREASE-CURRENT> (3451414)
<NET-CHANGE-FROM-OPS> 5498657
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4170<F1>
<DISTRIBUTIONS-OF-GAINS> 6785<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 19000<F1>
<NUMBER-OF-SHARES-REDEEMED> 6000<F1>
<SHARES-REINVESTED> 1000<F1>
<NET-CHANGE-IN-ASSETS> (1238021)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5611049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 382624
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 580486
<AVERAGE-NET-ASSETS> 155487<F1>
<PER-SHARE-NAV-BEGIN> 11.190<F1>
<PER-SHARE-NII> .300<F1>
<PER-SHARE-GAIN-APPREC> .140<F1>
<PER-SHARE-DIVIDEND> .300<F1>
<PER-SHARE-DISTRIBUTIONS> .450<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.880<F1>
<EXPENSE-RATIO> .820<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> 63
<NAME> PILOT U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 129770623
<INVESTMENTS-AT-VALUE> 134759418
<RECEIVABLES> 2268157
<ASSETS-OTHER> 73387
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 137100962
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 845374
<TOTAL-LIABILITIES> 845374
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 126169349
<SHARES-COMMON-STOCK> 73068<F1>
<SHARES-COMMON-PRIOR> 13049<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5097444
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4988795
<NET-ASSETS> 136255588
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4306731
<OTHER-INCOME> 0
<EXPENSES-NET> 454104
<NET-INVESTMENT-INCOME> 3852627
<REALIZED-GAINS-CURRENT> 5097444
<APPREC-INCREASE-CURRENT> (3451414)
<NET-CHANGE-FROM-OPS> 5498657
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 10428<F1>
<DISTRIBUTIONS-OF-GAINS> 18425<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 58000<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 2000<F1>
<NET-CHANGE-IN-ASSETS> (1238021)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 5611049
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 382624
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 580486
<AVERAGE-NET-ASSETS> 468388<F1>
<PER-SHARE-NAV-BEGIN> 11.190<F1>
<PER-SHARE-NII> .260<F1>
<PER-SHARE-GAIN-APPREC> .140<F1>
<PER-SHARE-DIVIDEND> .260<F1>
<PER-SHARE-DISTRIBUTIONS> .450<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.880<F1>
<EXPENSE-RATIO> 1.650<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B 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> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 104890578
<INVESTMENTS-AT-VALUE> 124047790
<RECEIVABLES> 796824
<ASSETS-OTHER> 74250
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 124918864
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 566674
<TOTAL-LIABILITIES> 566674
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 102851138
<SHARES-COMMON-STOCK> 9848845<F1>
<SHARES-COMMON-PRIOR> 8735804<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2343840
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 19157212
<NET-ASSETS> 124352190
<DIVIDEND-INCOME> 2304433
<INTEREST-INCOME> 282445
<OTHER-INCOME> 0
<EXPENSES-NET> 424363
<NET-INVESTMENT-INCOME> 2162515
<REALIZED-GAINS-CURRENT> 4019759
<APPREC-INCREASE-CURRENT> 8658320
<NET-CHANGE-FROM-OPS> 14840594
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2138238<F1>
<DISTRIBUTIONS-OF-GAINS> 2661530<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1465000<F1>
<NUMBER-OF-SHARES-REDEEMED> 375000<F1>
<SHARES-REINVESTED> 23000<F1>
<NET-CHANGE-IN-ASSETS> 24721184
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1025148
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 418140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 603843
<AVERAGE-NET-ASSETS> 110634181<F1>
<PER-SHARE-NAV-BEGIN> 11.290<F1>
<PER-SHARE-NII> .230<F1>
<PER-SHARE-GAIN-APPREC> 1.400<F1>
<PER-SHARE-DIVIDEND> .230<F1>
<PER-SHARE-DISTRIBUTIONS> .300<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.390<F1>
<EXPENSE-RATIO> .750<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> 72
<NAME> PILOT EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 104890578
<INVESTMENTS-AT-VALUE> 124047790
<RECEIVABLES> 796824
<ASSETS-OTHER> 74250
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 124918864
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 566674
<TOTAL-LIABILITIES> 566674
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 102851138
<SHARES-COMMON-STOCK> 52604<F1>
<SHARES-COMMON-PRIOR> 27404<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2343840
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 19157212
<NET-ASSETS> 124352190
<DIVIDEND-INCOME> 2304433
<INTEREST-INCOME> 282445
<OTHER-INCOME> 0
<EXPENSES-NET> 424363
<NET-INVESTMENT-INCOME> 2162515
<REALIZED-GAINS-CURRENT> 4019759
<APPREC-INCREASE-CURRENT> 8658320
<NET-CHANGE-FROM-OPS> 14840594
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8070<F1>
<DISTRIBUTIONS-OF-GAINS> 10717<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 27000<F1>
<NUMBER-OF-SHARES-REDEEMED> 3000<F1>
<SHARES-REINVESTED> 1000<F1>
<NET-CHANGE-IN-ASSETS> 24721184
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1025148
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 418140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 603843
<AVERAGE-NET-ASSETS> 447852<F1>
<PER-SHARE-NAV-BEGIN> 11.360<F1>
<PER-SHARE-NII> .210<F1>
<PER-SHARE-GAIN-APPREC> 1.420<F1>
<PER-SHARE-DIVIDEND> .210<F1>
<PER-SHARE-DISTRIBUTIONS> .300<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.480<F1>
<EXPENSE-RATIO> 1.000<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> 73
<NAME> PILOT EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 104890578
<INVESTMENTS-AT-VALUE> 124047790
<RECEIVABLES> 796824
<ASSETS-OTHER> 74250
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 124918864
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 566674
<TOTAL-LIABILITIES> 566674
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 102851138
<SHARES-COMMON-STOCK> 130274<F1>
<SHARES-COMMON-PRIOR> 62820<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2343840
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 19157212
<NET-ASSETS> 124352190
<DIVIDEND-INCOME> 2304433
<INTEREST-INCOME> 282445
<OTHER-INCOME> 0
<EXPENSES-NET> 424363
<NET-INVESTMENT-INCOME> 2162515
<REALIZED-GAINS-CURRENT> 4019759
<APPREC-INCREASE-CURRENT> 8658320
<NET-CHANGE-FROM-OPS> 14840594
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16207<F1>
<DISTRIBUTIONS-OF-GAINS> 28820<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 64000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1000<F1>
<SHARES-REINVESTED> 4000<F1>
<NET-CHANGE-IN-ASSETS> 24721184
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1025148
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 418140
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 603843
<AVERAGE-NET-ASSETS> 1132878<F1>
<PER-SHARE-NAV-BEGIN> 11.340<F1>
<PER-SHARE-NII> .170<F1>
<PER-SHARE-GAIN-APPREC> 1.430<F1>
<PER-SHARE-DIVIDEND> .170<F1>
<PER-SHARE-DISTRIBUTIONS> .300<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.470<F1>
<EXPENSE-RATIO> 1.750<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B 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> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 428195088
<INVESTMENTS-AT-VALUE> 488281367
<RECEIVABLES> 3286331
<ASSETS-OTHER> 725534
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 492293232
<PAYABLE-FOR-SECURITIES> 1590338
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 975918
<TOTAL-LIABILITIES> 2566256
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 427316275
<SHARES-COMMON-STOCK> 28370957<F1>
<SHARES-COMMON-PRIOR> 22371312<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 7175269
<ACCUMULATED-NET-GAINS> 8615692
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 60970278
<NET-ASSETS> 489726976
<DIVIDEND-INCOME> 1932260
<INTEREST-INCOME> 570797
<OTHER-INCOME> 0
<EXPENSES-NET> 2325407
<NET-INVESTMENT-INCOME> 177650
<REALIZED-GAINS-CURRENT> 10872904
<APPREC-INCREASE-CURRENT> 13931129
<NET-CHANGE-FROM-OPS> 24981683
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2489640<F1>
<DISTRIBUTIONS-OF-GAINS> 9018759<F1>
<DISTRIBUTIONS-OTHER> 8623288<F1>
<NUMBER-OF-SHARES-SOLD> 5925000<F1>
<NUMBER-OF-SHARES-REDEEMED> 892000<F1>
<SHARES-REINVESTED> 967000<F1>
<NET-CHANGE-IN-ASSETS> 98890464
<ACCUMULATED-NII-PRIOR> 2488507
<ACCUMULATED-GAINS-PRIOR> 9516175
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1667958
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2325407
<AVERAGE-NET-ASSETS> 392316161<F1>
<PER-SHARE-NAV-BEGIN> 16.240<F1>
<PER-SHARE-NII> .050<F1>
<PER-SHARE-GAIN-APPREC> .890<F1>
<PER-SHARE-DIVIDEND> .080<F1>
<PER-SHARE-DISTRIBUTIONS> .390<F1>
<RETURNS-OF-CAPITAL> .380<F1>
<PER-SHARE-NAV-END> 16.330<F1>
<EXPENSE-RATIO> 1.100<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> 82
<NAME> THE PILOT INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 428195088
<INVESTMENTS-AT-VALUE> 488281367
<RECEIVABLES> 3286331
<ASSETS-OTHER> 725534
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 492293232
<PAYABLE-FOR-SECURITIES> 1590338
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 975918
<TOTAL-LIABILITIES> 2566256
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 427316275
<SHARES-COMMON-STOCK> 1634662<F1>
<SHARES-COMMON-PRIOR> 1711244<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 7175269
<ACCUMULATED-NET-GAINS> 8615692
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 60970278
<NET-ASSETS> 489726976
<DIVIDEND-INCOME> 1932260
<INTEREST-INCOME> 570797
<OTHER-INCOME> 0
<EXPENSES-NET> 2325407
<NET-INVESTMENT-INCOME> 177650
<REALIZED-GAINS-CURRENT> 10872904
<APPREC-INCREASE-CURRENT> 13931129
<NET-CHANGE-FROM-OPS> 24981683
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 171517<F1>
<DISTRIBUTIONS-OF-GAINS> 648034<F1>
<DISTRIBUTIONS-OTHER> 594079<F1>
<NUMBER-OF-SHARES-SOLD> 11000<F1>
<NUMBER-OF-SHARES-REDEEMED> 142000<F1>
<SHARES-REINVESTED> 55000<F1>
<NET-CHANGE-IN-ASSETS> 98890464
<ACCUMULATED-NII-PRIOR> 2488507
<ACCUMULATED-GAINS-PRIOR> 9516175
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1667958
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2325407
<AVERAGE-NET-ASSETS> 26964554<F1>
<PER-SHARE-NAV-BEGIN> 16.140<F1>
<PER-SHARE-NII> <.020><F1>
<PER-SHARE-GAIN-APPREC> .940<F1>
<PER-SHARE-DIVIDEND> .080<F1>
<PER-SHARE-DISTRIBUTIONS> .390<F1>
<RETURNS-OF-CAPITAL> .380<F1>
<PER-SHARE-NAV-END> 16.210<F1>
<EXPENSE-RATIO> 1.350<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> 91
<NAME> PILOT SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 388169022
<INVESTMENTS-AT-VALUE> 388169022
<RECEIVABLES> 2696057
<ASSETS-OTHER> 115654
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 390980733
<PAYABLE-FOR-SECURITIES> 4592324
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1070216
<TOTAL-LIABILITIES> 5662540
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 385324538
<SHARES-COMMON-STOCK> 370729073<F1>
<SHARES-COMMON-PRIOR> 397810341<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 6345
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 385318193
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7478561
<OTHER-INCOME> 0
<EXPENSES-NET> 732070
<NET-INVESTMENT-INCOME> 6746491
<REALIZED-GAINS-CURRENT> 21157
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6767648
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6532951<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 224105000<F1>
<NUMBER-OF-SHARES-REDEEMED> 251186000<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> <26912661>
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 27502
<GROSS-ADVISORY-FEES> 397230
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 819832
<AVERAGE-NET-ASSETS> 385544894<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .017<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .017<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .360<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> 92
<NAME> PILOT SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 388169022
<INVESTMENTS-AT-VALUE> 388169022
<RECEIVABLES> 2696057
<ASSETS-OTHER> 115654
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 390980733
<PAYABLE-FOR-SECURITIES> 4592324
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1070216
<TOTAL-LIABILITIES> 5662540
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 385324538
<SHARES-COMMON-STOCK> 14590295<F1>
<SHARES-COMMON-PRIOR> 14442921<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 6345
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 385318193
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7478561
<OTHER-INCOME> 0
<EXPENSES-NET> 732070
<NET-INVESTMENT-INCOME> 6746491
<REALIZED-GAINS-CURRENT> 21157
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6767648
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 213467<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5502000<F1>
<NUMBER-OF-SHARES-REDEEMED> 15568000<F1>
<SHARES-REINVESTED> 213000<F1>
<NET-CHANGE-IN-ASSETS> <26912661>
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 27502
<GROSS-ADVISORY-FEES> 397230
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 819832
<AVERAGE-NET-ASSETS> 13876660<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .016<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .016<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .610<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Administration 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> 93
<NAME> PILOT SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 388169022
<INVESTMENTS-AT-VALUE> 388169022
<RECEIVABLES> 2696057
<ASSETS-OTHER> 115654
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 390980733
<PAYABLE-FOR-SECURITIES> 4592324
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1070216
<TOTAL-LIABILITIES> 5662540
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 385324538
<SHARES-COMMON-STOCK> 5170<F1>
<SHARES-COMMON-PRIOR> 5094<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 6345
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 385318193
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7478561
<OTHER-INCOME> 0
<EXPENSES-NET> 732070
<NET-INVESTMENT-INCOME> 6746491
<REALIZED-GAINS-CURRENT> 21157
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6767648
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 73<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> <26912661>
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 27502
<GROSS-ADVISORY-FEES> 397230
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 819832
<AVERAGE-NET-ASSETS> 5139<F1>
<PER-SHARE-NAV-BEGIN> 1.000<F1>
<PER-SHARE-NII> .014<F1>
<PER-SHARE-GAIN-APPREC> .000<F1>
<PER-SHARE-DIVIDEND> .014<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 1.000<F1>
<EXPENSE-RATIO> .860<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Investor 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> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 139088775
<INVESTMENTS-AT-VALUE> 161036271
<RECEIVABLES> 873315
<ASSETS-OTHER> 72927
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 161982513
<PAYABLE-FOR-SECURITIES> 1292275
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 412198
<TOTAL-LIABILITIES> 1704473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 133821616
<SHARES-COMMON-STOCK> 12384869<F1>
<SHARES-COMMON-PRIOR> 9442613<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4508928
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21947496
<NET-ASSETS> 160278040
<DIVIDEND-INCOME> 1514332
<INTEREST-INCOME> 162363
<OTHER-INCOME> 0
<EXPENSES-NET> 514932
<NET-INVESTMENT-INCOME> 1161763
<REALIZED-GAINS-CURRENT> 5138879
<APPREC-INCREASE-CURRENT> 9134963
<NET-CHANGE-FROM-OPS> 15435605
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1149233<F1>
<DISTRIBUTIONS-OF-GAINS> 3103049<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3489000<F1>
<NUMBER-OF-SHARES-REDEEMED> 615000<F1>
<SHARES-REINVESTED> 68000<F1>
<NET-CHANGE-IN-ASSETS> 49496726
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2531612
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 514954
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 714829
<AVERAGE-NET-ASSETS> 135881513<F1>
<PER-SHARE-NAV-BEGIN> 11.590<F1>
<PER-SHARE-NII> .100<F1>
<PER-SHARE-GAIN-APPREC> 1.330<F1>
<PER-SHARE-DIVIDEND> .100<F1>
<PER-SHARE-DISTRIBUTIONS> .280<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.640<F1>
<EXPENSE-RATIO> .740<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> 102
<NAME> PILOT GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 139088775
<INVESTMENTS-AT-VALUE> 161036271
<RECEIVABLES> 873315
<ASSETS-OTHER> 72927
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 161982513
<PAYABLE-FOR-SECURITIES> 1292275
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 412198
<TOTAL-LIABILITIES> 1704473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 133821616
<SHARES-COMMON-STOCK> 139471<F1>
<SHARES-COMMON-PRIOR> 60167<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4508928
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21947496
<NET-ASSETS> 160278040
<DIVIDEND-INCOME> 1514332
<INTEREST-INCOME> 162363
<OTHER-INCOME> 0
<EXPENSES-NET> 514932
<NET-INVESTMENT-INCOME> 1161763
<REALIZED-GAINS-CURRENT> 5138879
<APPREC-INCREASE-CURRENT> 9134963
<NET-CHANGE-FROM-OPS> 15435605
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8102<F1>
<DISTRIBUTIONS-OF-GAINS> 26472<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 80000<F1>
<NUMBER-OF-SHARES-REDEEMED> 4000<F1>
<SHARES-REINVESTED> 3000<F1>
<NET-CHANGE-IN-ASSETS> 49496726
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2531612
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 514954
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 714829
<AVERAGE-NET-ASSETS> 1143311<F1>
<PER-SHARE-NAV-BEGIN> 11.580<F1>
<PER-SHARE-NII> .090<F1>
<PER-SHARE-GAIN-APPREC> 1.340<F1>
<PER-SHARE-DIVIDEND> .090<F1>
<PER-SHARE-DISTRIBUTIONS> .280<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.640<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> 103
<NAME> PILOT GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 139088775
<INVESTMENTS-AT-VALUE> 161036271
<RECEIVABLES> 873315
<ASSETS-OTHER> 72927
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 161982513
<PAYABLE-FOR-SECURITIES> 1292275
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 412198
<TOTAL-LIABILITIES> 1704473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 133821616
<SHARES-COMMON-STOCK> 156394<F1>
<SHARES-COMMON-PRIOR> 57043<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 4508928
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 21947496
<NET-ASSETS> 160278040
<DIVIDEND-INCOME> 1514332
<INTEREST-INCOME> 162363
<OTHER-INCOME> 0
<EXPENSES-NET> 514932
<NET-INVESTMENT-INCOME> 1161763
<REALIZED-GAINS-CURRENT> 5138879
<APPREC-INCREASE-CURRENT> 9134963
<NET-CHANGE-FROM-OPS> 15435605
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4428<F1>
<DISTRIBUTIONS-OF-GAINS> 32042<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 100000<F1>
<NUMBER-OF-SHARES-REDEEMED> 4000<F1>
<SHARES-REINVESTED> 3000<F1>
<NET-CHANGE-IN-ASSETS> 49496726
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 2531612
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 514954
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 714829
<AVERAGE-NET-ASSETS> 1339571<F1>
<PER-SHARE-NAV-BEGIN> 11.590<F1>
<PER-SHARE-NII> .040<F1>
<PER-SHARE-GAIN-APPREC> 1.340<F1>
<PER-SHARE-DIVIDEND> .040<F1>
<PER-SHARE-DISTRIBUTIONS> .280<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.650<F1>
<EXPENSE-RATIO> 1.740<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B 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> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-10-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 215388840
<INVESTMENTS-AT-VALUE> 217611661
<RECEIVABLES> 2410425
<ASSETS-OTHER> 72958
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 220095044
<PAYABLE-FOR-SECURITIES> 5724638
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1123521
<TOTAL-LIABILITIES> 6848159
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 208007238
<SHARES-COMMON-STOCK> 20394789<F1>
<SHARES-COMMON-PRIOR> 15840048<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2716826
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2222821
<NET-ASSETS> 213246885
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6170371
<OTHER-INCOME> 0
<EXPENSES-NET> 540142
<NET-INVESTMENT-INCOME> 5630229
<REALIZED-GAINS-CURRENT> 3036878
<APPREC-INCREASE-CURRENT> (2963524)
<NET-CHANGE-FROM-OPS> 5703583
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5612516<F1>
<DISTRIBUTIONS-OF-GAINS> 920212<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 6044000<F1>
<NUMBER-OF-SHARES-REDEEMED> 1522000<F1>
<SHARES-REINVESTED> 33000<F1>
<NET-CHANGE-IN-ASSETS> 47306757
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 603070
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 513938
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 738028
<AVERAGE-NET-ASSETS> 187705463<F1>
<PER-SHARE-NAV-BEGIN> 10.440<F1>
<PER-SHARE-NII> .320<F1>
<PER-SHARE-GAIN-APPREC> .030<F1>
<PER-SHARE-DIVIDEND> .320<F1>
<PER-SHARE-DISTRIBUTIONS> .050<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.420<F1>
<EXPENSE-RATIO> .580<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> 112
<NAME> PILOT INTERMEDIATE U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-10-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 215388840
<INVESTMENTS-AT-VALUE> 217611661
<RECEIVABLES> 2410425
<ASSETS-OTHER> 72958
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 220095044
<PAYABLE-FOR-SECURITIES> 5724638
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1123521
<TOTAL-LIABILITIES> 6848159
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 208007238
<SHARES-COMMON-STOCK> 65444<F1>
<SHARES-COMMON-PRIOR> 47776<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2716826
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 2222821
<NET-ASSETS> 213246885
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6170371
<OTHER-INCOME> 0
<EXPENSES-NET> 540142
<NET-INVESTMENT-INCOME> 5630229
<REALIZED-GAINS-CURRENT> 3036878
<APPREC-INCREASE-CURRENT> (2963524)
<NET-CHANGE-FROM-OPS> 5703583
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 17713<F1>
<DISTRIBUTIONS-OF-GAINS> 2910<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 23000<F1>
<NUMBER-OF-SHARES-REDEEMED> 6000<F1>
<SHARES-REINVESTED> 1000<F1>
<NET-CHANGE-IN-ASSETS> 47306757
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 603070
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 513938
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 738028
<AVERAGE-NET-ASSETS> 607250<F1>
<PER-SHARE-NAV-BEGIN> 10.440<F1>
<PER-SHARE-NII> .310<F1>
<PER-SHARE-GAIN-APPREC> .030<F1>
<PER-SHARE-DIVIDEND> .310<F1>
<PER-SHARE-DISTRIBUTIONS> .050<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.420<F1>
<EXPENSE-RATIO> .730<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> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 28907042
<INVESTMENTS-AT-VALUE> 29278796
<RECEIVABLES> 235205
<ASSETS-OTHER> 39540
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 29553541
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 117444
<TOTAL-LIABILITIES> 117444
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28731973
<SHARES-COMMON-STOCK> 2817098<F1>
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 142636
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 561488
<NET-ASSETS> 29436097
<DIVIDEND-INCOME> 37155
<INTEREST-INCOME> 76010
<OTHER-INCOME> 0
<EXPENSES-NET> 40776
<NET-INVESTMENT-INCOME> 72389
<REALIZED-GAINS-CURRENT> 142636
<APPREC-INCREASE-CURRENT> 561488
<NET-CHANGE-FROM-OPS> 776513
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 72029<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2832000<F1>
<NUMBER-OF-SHARES-REDEEMED> 19000<F1>
<SHARES-REINVESTED> 4000<F1>
<NET-CHANGE-IN-ASSETS> 29436097
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 40431
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 85815
<AVERAGE-NET-ASSETS> 18789775<F1>
<PER-SHARE-NAV-BEGIN> 10.000<F1>
<PER-SHARE-NII> .040<F1>
<PER-SHARE-GAIN-APPREC> .180<F1>
<PER-SHARE-DIVIDEND> .040<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.180<F1>
<EXPENSE-RATIO> .970<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> 122
<NAME> PILOT SMALL CAPITALIZATION EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 28907042
<INVESTMENTS-AT-VALUE> 29278796
<RECEIVABLES> 235205
<ASSETS-OTHER> 39540
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 29553541
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 117444
<TOTAL-LIABILITIES> 117444
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28731973
<SHARES-COMMON-STOCK> 34332<F1>
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 142636
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 561488
<NET-ASSETS> 29436097
<DIVIDEND-INCOME> 37155
<INTEREST-INCOME> 76010
<OTHER-INCOME> 0
<EXPENSES-NET> 40776
<NET-INVESTMENT-INCOME> 72389
<REALIZED-GAINS-CURRENT> 142636
<APPREC-INCREASE-CURRENT> 561488
<NET-CHANGE-FROM-OPS> 776513
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 291<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 34000<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 29436097
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 40431
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 85815
<AVERAGE-NET-ASSETS> 124927<F1>
<PER-SHARE-NAV-BEGIN> 10.000<F1>
<PER-SHARE-NII> .010<F1>
<PER-SHARE-GAIN-APPREC> .180<F1>
<PER-SHARE-DIVIDEND> .010<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.180<F1>
<EXPENSE-RATIO> 1.230<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> 123
<NAME> PILOT SMALL CAPITALIZATION EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1996
<PERIOD-START> SEP-01-1995
<PERIOD-END> FEB-29-1996
<INVESTMENTS-AT-COST> 28907042
<INVESTMENTS-AT-VALUE> 29278796
<RECEIVABLES> 235205
<ASSETS-OTHER> 39540
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 29553541
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 117444
<TOTAL-LIABILITIES> 117444
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 28731973
<SHARES-COMMON-STOCK> 39998<F1>
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 142636
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 561488
<NET-ASSETS> 29436097
<DIVIDEND-INCOME> 37155
<INTEREST-INCOME> 76010
<OTHER-INCOME> 0
<EXPENSES-NET> 40776
<NET-INVESTMENT-INCOME> 72389
<REALIZED-GAINS-CURRENT> 142636
<APPREC-INCREASE-CURRENT> 561488
<NET-CHANGE-FROM-OPS> 776513
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 69<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 40000<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 29436097
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 40431
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 85815
<AVERAGE-NET-ASSETS> 125653<F1>
<PER-SHARE-NAV-BEGIN> 10.000<F1>
<PER-SHARE-NII> .010<F1>
<PER-SHARE-GAIN-APPREC> .200<F1>
<PER-SHARE-DIVIDEND> .010<F1>
<PER-SHARE-DISTRIBUTIONS> .000<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.200<F1>
<EXPENSE-RATIO> 2.010<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
