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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 6
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<PAGE> PAGE 8
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<PAGE> PAGE 11
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<PAGE> PAGE 13
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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<PAGE> PAGE 41
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<PAGE> PAGE 42
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<PAGE> PAGE 43
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070 I020800 N
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070 J020800 N
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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008 D020901 MO
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<PAGE> PAGE 46
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<PAGE> PAGE 47
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<PAGE> PAGE 48
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070 F020900 N
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070 G020900 N
070 H010900 N
070 H020900 N
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<PAGE> PAGE 49
070 Q010900 N
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<PAGE> PAGE 50
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008 A001001 BOATMEN'S TRUST COMPANY
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<PAGE> PAGE 51
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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008 A001101 BOATMEN'S TRUST COMPANY
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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008 A001201 BOATMEN'S TRUST COMPANY
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<PAGE> PAGE 61
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<PAGE> PAGE 62
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<PAGE> PAGE 63
058 A001200 N
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<PAGE> PAGE 64
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<PAGE> PAGE 65
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<PAGE> PAGE 66
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<PAGE> PAGE 67
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<PAGE> PAGE 68
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<PAGE> PAGE 69
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<PAGE> PAGE 70
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<PAGE> PAGE 71
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<PAGE> PAGE 72
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<PAGE> PAGE 73
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<PAGE> PAGE 74
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<PAGE> PAGE 75
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SIGNATURE LISA TOMICH
TITLE SUPERVISOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<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> 2
<NAME> SHORT-TERM U.S. TREASURY FUND
<S> <C>
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<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> 2
<NAME> SHORT-TERM U.S. TREASURY FUND
<S> <C>
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<FISCAL-YEAR-END> AUG-31-1997
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<FN>
<F1>Class B Shares
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 2
<NAME> SHORT-TERM U.S. TREASURY FUND
<S> <C>
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<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> 3
<NAME> MISSOURI SHORT-TERM TAX-EXEMPT FUND
<S> <C>
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<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> 3
<NAME> MISSOURI SHORT-TERM TAX-EXEMPT FUND
<S> <C>
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<FN>
<F1>Class B Shares
</FN>
</TABLE>
<TABLE> <S> <C>
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<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 3
<NAME> MISSOURI SHORT-TERM TAX-EXEMPT FUND
<S> <C>
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<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> 04
<NAME> PILOT MUNICIPAL BOND FUND
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<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> 04
<NAME> PILOT MUNICIPAL BOND FUND
<S> <C>
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<PAID-IN-CAPITAL-COMMON> 190953042
<SHARES-COMMON-STOCK> 147556<F1>
<SHARES-COMMON-PRIOR> 118533<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 151486
<ACCUMULATED-NET-GAINS> 48408
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12056216
<NET-ASSETS> 202906180
<DIVIDEND-INCOME> 81367
<INTEREST-INCOME> 5587946
<OTHER-INCOME> 0
<EXPENSES-NET> 669684
<NET-INVESTMENT-INCOME> 4999629
<REALIZED-GAINS-CURRENT> 48386
<APPREC-INCREASE-CURRENT> 4456673
<NET-CHANGE-FROM-OPS> 9504688
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 29632<F1>
<DISTRIBUTIONS-OF-GAINS> 10468<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 362000<F1>
<NUMBER-OF-SHARES-REDEEMED> 82000<F1>
<SHARES-REINVESTED> 33000<F1>
<NET-CHANGE-IN-ASSETS> 11953536
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1352944
<OVERDISTRIB-NII-PRIOR> 151486
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 525664
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 752693
<AVERAGE-NET-ASSETS> 1468421<F1>
<PER-SHARE-NAV-BEGIN> 10.62<F1>
<PER-SHARE-NII> .22<F1>
<PER-SHARE-GAIN-APPREC> .24<F1>
<PER-SHARE-DIVIDEND> .22<F1>
<PER-SHARE-DISTRIBUTIONS> .07<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.79<F1>
<EXPENSE-RATIO> 1.67<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> 04
<NAME> PILOT MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 188763416
<INVESTMENTS-AT-VALUE> 200819633
<RECEIVABLES> 2988066
<ASSETS-OTHER> 55107
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 203862806
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 956626
<TOTAL-LIABILITIES> 956626
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 190953042
<SHARES-COMMON-STOCK> 18374679<F1>
<SHARES-COMMON-PRIOR> 17593520<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 151486
<ACCUMULATED-NET-GAINS> 48408
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 12056216
<NET-ASSETS> 202906180
<DIVIDEND-INCOME> 81367
<INTEREST-INCOME> 5587946
<OTHER-INCOME> 0
<EXPENSES-NET> 669684
<NET-INVESTMENT-INCOME> 4999629
<REALIZED-GAINS-CURRENT> 48386
<APPREC-INCREASE-CURRENT> 4456673
<NET-CHANGE-FROM-OPS> 9504688
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4922198<F1>
<DISTRIBUTIONS-OF-GAINS> 1328256<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 16565000<F1>
<NUMBER-OF-SHARES-REDEEMED> 8116000<F1>
<SHARES-REINVESTED> 115000<F1>
<NET-CHANGE-IN-ASSETS> 11953536
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1352944
<OVERDISTRIB-NII-PRIOR> 151486
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 525664
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 752693
<AVERAGE-NET-ASSETS> 199318055<F1>
<PER-SHARE-NAV-BEGIN> 10.68<F1>
<PER-SHARE-NII> .27<F1>
<PER-SHARE-GAIN-APPREC> .25<F1>
<PER-SHARE-DIVIDEND> .27<F1>
<PER-SHARE-DISTRIBUTIONS> .07<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.86<F1>
<EXPENSE-RATIO> .67<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> 05
<NAME> PILOT INTERMEDIATE MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 212042469
<INVESTMENTS-AT-VALUE> 219934935
<RECEIVABLES> 2994371
<ASSETS-OTHER> 55691
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 222984997
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 931132
<TOTAL-LIABILITIES> 931132
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 214003559
<SHARES-COMMON-STOCK> 89375<F1>
<SHARES-COMMON-PRIOR> 73742<F1>
<ACCUMULATED-NII-CURRENT> 22148
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 135692
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7892466
<NET-ASSETS> 222053865
<DIVIDEND-INCOME> 90668
<INTEREST-INCOME> 5510688
<OTHER-INCOME> 0
<EXPENSES-NET> 676382
<NET-INVESTMENT-INCOME> 4924974
<REALIZED-GAINS-CURRENT> 338181
<APPREC-INCREASE-CURRENT> 2298300
<NET-CHANGE-FROM-OPS> 7561455
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 20566<F1>
<DISTRIBUTIONS-OF-GAINS> 3338<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 298000<F1>
<NUMBER-OF-SHARES-REDEEMED> 152000<F1>
<SHARES-REINVESTED> 16000<F1>
<NET-CHANGE-IN-ASSETS> 2388381
<ACCUMULATED-NII-PRIOR> 22150
<ACCUMULATED-GAINS-PRIOR> 501429
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 569703
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 811509
<AVERAGE-NET-ASSETS> 966007<F1>
<PER-SHARE-NAV-BEGIN> 10.36<F1>
<PER-SHARE-NII> .22<F1>
<PER-SHARE-GAIN-APPREC> .12<F1>
<PER-SHARE-DIVIDEND> .22<F1>
<PER-SHARE-DISTRIBUTIONS> .03<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.45<F1>
<EXPENSE-RATIO> .87<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> 05
<NAME> PILOT INTERMEDIATE MUNICIPAL BOND FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 212042469
<INVESTMENTS-AT-VALUE> 219934935
<RECEIVABLES> 2994371
<ASSETS-OTHER> 55691
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 222984997
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 931132
<TOTAL-LIABILITIES> 931132
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 214003559
<SHARES-COMMON-STOCK> 21190364<F1>
<SHARES-COMMON-PRIOR> 21164250<F1>
<ACCUMULATED-NII-CURRENT> 73742
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 135692
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7892466
<NET-ASSETS> 222053865
<DIVIDEND-INCOME> 90668
<INTEREST-INCOME> 5510688
<OTHER-INCOME> 0
<EXPENSES-NET> 676382
<NET-INVESTMENT-INCOME> 4924974
<REALIZED-GAINS-CURRENT> 338181
<APPREC-INCREASE-CURRENT> 2298300
<NET-CHANGE-FROM-OPS> 7561455
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4904410<F1>
<DISTRIBUTIONS-OF-GAINS> 700580<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 21452000<F1>
<NUMBER-OF-SHARES-REDEEMED> 2136000<F1>
<SHARES-REINVESTED> 202000<F1>
<NET-CHANGE-IN-ASSETS> 2388381
<ACCUMULATED-NII-PRIOR> 22150
<ACCUMULATED-GAINS-PRIOR> 501429
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 569703
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 811509
<AVERAGE-NET-ASSETS> 218549743<F1>
<PER-SHARE-NAV-BEGIN> 10.34<F1>
<PER-SHARE-NII> .23<F1>
<PER-SHARE-GAIN-APPREC> .12<F1>
<PER-SHARE-DIVIDEND> .23<F1>
<PER-SHARE-DISTRIBUTIONS> .03<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.43<F1>
<EXPENSE-RATIO> .62<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> 6
<NAME> PILOT U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 151836861
<INVESTMENTS-AT-VALUE> 152060705
<RECEIVABLES> 1527394
<ASSETS-OTHER> 513
<OTHER-ITEMS-ASSETS> 52664
<TOTAL-ASSETS> 153641276
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 807169
<TOTAL-LIABILITIES> 807169
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 151929141
<SHARES-COMMON-STOCK> 112101<F1>
<SHARES-COMMON-PRIOR> 60030<F1>
<ACCUMULATED-NII-CURRENT> 22072
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 659050
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 223844
<NET-ASSETS> 152834107
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4622312
<OTHER-INCOME> 0
<EXPENSES-NET> 468973
<NET-INVESTMENT-INCOME> 4153339
<REALIZED-GAINS-CURRENT> 955364
<APPREC-INCREASE-CURRENT> 1700923
<NET-CHANGE-FROM-OPS> 6809626
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 23663<F1>
<DISTRIBUTIONS-OF-GAINS> 55087<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 20929929
<NUMBER-OF-SHARES-REDEEMED> 11035947
<SHARES-REINVESTED> 565228
<NET-CHANGE-IN-ASSETS> 5898638
<ACCUMULATED-NII-PRIOR> 22072
<ACCUMULATED-GAINS-PRIOR> 6920545
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 372492
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 545535
<AVERAGE-NET-ASSETS> 900748<F1>
<PER-SHARE-NAV-BEGIN> 10.54<F1>
<PER-SHARE-NII> .28<F1>
<PER-SHARE-GAIN-APPREC> .18<F1>
<PER-SHARE-DIVIDEND> .28<F1>
<PER-SHARE-DISTRIBUTIONS> .21<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.21<F1>
<EXPENSE-RATIO> .86<F1>
<AVG-DEBT-OUTSTANDING> 0<F1>
<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> 6
<NAME> PILOT U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 151836861
<INVESTMENTS-AT-VALUE> 152060705
<RECEIVABLES> 1527394
<ASSETS-OTHER> 513
<OTHER-ITEMS-ASSETS> 52664
<TOTAL-ASSETS> 153641276
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 807169
<TOTAL-LIABILITIES> 807169
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 151929141
<SHARES-COMMON-STOCK> 152629<F1>
<SHARES-COMMON-PRIOR> 117601<F1>
<ACCUMULATED-NII-CURRENT> 22072
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 659050
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 223844
<NET-ASSETS> 152834107
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4622312
<OTHER-INCOME> 0
<EXPENSES-NET> 468973
<NET-INVESTMENT-INCOME> 4153339
<REALIZED-GAINS-CURRENT> 955364
<APPREC-INCREASE-CURRENT> 1700923
<NET-CHANGE-FROM-OPS> 6809626
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 35520<F1>
<DISTRIBUTIONS-OF-GAINS> 76740<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 20929929
<NUMBER-OF-SHARES-REDEEMED> 11035947
<SHARES-REINVESTED> 565228
<NET-CHANGE-IN-ASSETS> 5898638
<ACCUMULATED-NII-PRIOR> 22072
<ACCUMULATED-GAINS-PRIOR> 6920545
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 372492
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 545535
<AVERAGE-NET-ASSETS> 1558599<F1>
<PER-SHARE-NAV-BEGIN> 10.52<F1>
<PER-SHARE-NII> .24<F1>
<PER-SHARE-GAIN-APPREC> .19<F1>
<PER-SHARE-DIVIDEND> .24<F1>
<PER-SHARE-DISTRIBUTIONS> .51<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.20<F1>
<EXPENSE-RATIO> 1.62<F1>
<AVG-DEBT-OUTSTANDING> 0<F1>
<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> 6
<NAME> PILOT U.S. GOVERNMENT SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 151836861
<INVESTMENTS-AT-VALUE> 152060705
<RECEIVABLES> 1527394
<ASSETS-OTHER> 513
<OTHER-ITEMS-ASSETS> 52664
<TOTAL-ASSETS> 153641276
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 807169
<TOTAL-LIABILITIES> 807169
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 151929141
<SHARES-COMMON-STOCK> 14711115<F1>
<SHARES-COMMON-PRIOR> 13780940<F1>
<ACCUMULATED-NII-CURRENT> 22072
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 659050
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 223844
<NET-ASSETS> 152834107
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4622312
<OTHER-INCOME> 0
<EXPENSES-NET> 468973
<NET-INVESTMENT-INCOME> 4153339
<REALIZED-GAINS-CURRENT> 955364
<APPREC-INCREASE-CURRENT> 1700923
<NET-CHANGE-FROM-OPS> 6809626
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 4094156<F1>
<DISTRIBUTIONS-OF-GAINS> 7085032<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 20929929
<NUMBER-OF-SHARES-REDEEMED> 11035947
<SHARES-REINVESTED> 565228
<NET-CHANGE-IN-ASSETS> 5898638
<ACCUMULATED-NII-PRIOR> 22072
<ACCUMULATED-GAINS-PRIOR> 6920545
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 372492
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 545535
<AVERAGE-NET-ASSETS> 147196002<F1>
<PER-SHARE-NAV-BEGIN> 10.53<F1>
<PER-SHARE-NII> .29<F1>
<PER-SHARE-GAIN-APPREC> .19<F1>
<PER-SHARE-DIVIDEND> .29<F1>
<PER-SHARE-DISTRIBUTIONS> .51<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.21<F1>
<EXPENSE-RATIO> .62<F1>
<AVG-DEBT-OUTSTANDING> 0<F1>
<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> 7
<NAME> PILOT EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 120833479
<INVESTMENTS-AT-VALUE> 154615048
<RECEIVABLES> 648886
<ASSETS-OTHER> 687
<OTHER-ITEMS-ASSETS> 53621
<TOTAL-ASSETS> 155318242
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 540216
<TOTAL-LIABILITIES> 540216
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 118929385
<SHARES-COMMON-STOCK> 239195<F1>
<SHARES-COMMON-PRIOR> 131637<F1>
<ACCUMULATED-NII-CURRENT> 76857
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1990215
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 33781569
<NET-ASSETS> 154778026
<DIVIDEND-INCOME> 2715832
<INTEREST-INCOME> 297248
<OTHER-INCOME> 0
<EXPENSES-NET> 560155
<NET-INVESTMENT-INCOME> 2452925
<REALIZED-GAINS-CURRENT> 2303484
<APPREC-INCREASE-CURRENT> 15922465
<NET-CHANGE-FROM-OPS> 20678874
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 41737<F1>
<DISTRIBUTIONS-OF-GAINS> 61767<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 11478020
<NUMBER-OF-SHARES-REDEEMED> 7085443
<SHARES-REINVESTED> 616556
<NET-CHANGE-IN-ASSETS> 19660154
<ACCUMULATED-NII-PRIOR> 126759
<ACCUMULATED-GAINS-PRIOR> 3211757
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 488701
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 685623
<AVERAGE-NET-ASSETS> 2562642<F1>
<PER-SHARE-NAV-BEGIN> 12.46<F1>
<PER-SHARE-NII> .20<F1>
<PER-SHARE-GAIN-APPREC> 1.67<F1>
<PER-SHARE-DIVIDEND> .21<F1>
<PER-SHARE-DISTRIBUTIONS> .32<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 13.80<F1>
<EXPENSE-RATIO> .98<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> 7
<NAME> PILOT EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 120833479
<INVESTMENTS-AT-VALUE> 154615048
<RECEIVABLES> 648886
<ASSETS-OTHER> 687
<OTHER-ITEMS-ASSETS> 53621
<TOTAL-ASSETS> 155318242
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 540216
<TOTAL-LIABILITIES> 540216
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 118929385
<SHARES-COMMON-STOCK> 351997<F1>
<SHARES-COMMON-PRIOR> 257156<F1>
<ACCUMULATED-NII-CURRENT> 76857
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1990215
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 33781569
<NET-ASSETS> 154778026
<DIVIDEND-INCOME> 2715832
<INTEREST-INCOME> 297248
<OTHER-INCOME> 0
<EXPENSES-NET> 560155
<NET-INVESTMENT-INCOME> 2452925
<REALIZED-GAINS-CURRENT> 2303484
<APPREC-INCREASE-CURRENT> 15922465
<NET-CHANGE-FROM-OPS> 20678874
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 51871<F1>
<DISTRIBUTIONS-OF-GAINS> 104256<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 11478020
<NUMBER-OF-SHARES-REDEEMED> 7085443
<SHARES-REINVESTED> 616556
<NET-CHANGE-IN-ASSETS> 19660154
<ACCUMULATED-NII-PRIOR> 126759
<ACCUMULATED-GAINS-PRIOR> 3211757
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 488701
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 685623
<AVERAGE-NET-ASSETS> 4202778<F1>
<PER-SHARE-NAV-BEGIN> 12.44<F1>
<PER-SHARE-NII> .15<F1>
<PER-SHARE-GAIN-APPREC> 1.67<F1>
<PER-SHARE-DIVIDEND> .16<F1>
<PER-SHARE-DISTRIBUTIONS> .32<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 13.78<F1>
<EXPENSE-RATIO> 1.73<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> 7
<NAME> PILOT EQUITY INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 120833479
<INVESTMENTS-AT-VALUE> 154615048
<RECEIVABLES> 648886
<ASSETS-OTHER> 687
<OTHER-ITEMS-ASSETS> 53621
<TOTAL-ASSETS> 155318242
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 540216
<TOTAL-LIABILITIES> 540216
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 118929385
<SHARES-COMMON-STOCK> 10702325<F1>
<SHARES-COMMON-PRIOR> 10526776<F1>
<ACCUMULATED-NII-CURRENT> 76857
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1990215
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 33781569
<NET-ASSETS> 154778026
<DIVIDEND-INCOME> 2715832
<INTEREST-INCOME> 297248
<OTHER-INCOME> 0
<EXPENSES-NET> 560155
<NET-INVESTMENT-INCOME> 2452925
<REALIZED-GAINS-CURRENT> 2303484
<APPREC-INCREASE-CURRENT> 15922465
<NET-CHANGE-FROM-OPS> 20678874
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2409219<F1>
<DISTRIBUTIONS-OF-GAINS> 3359003<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 11478020
<NUMBER-OF-SHARES-REDEEMED> 7085443
<SHARES-REINVESTED> 616556
<NET-CHANGE-IN-ASSETS> 19660154
<ACCUMULATED-NII-PRIOR> 126759
<ACCUMULATED-GAINS-PRIOR> 3211757
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 488701
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 685623
<AVERAGE-NET-ASSETS> 140677726<F1>
<PER-SHARE-NAV-BEGIN> 12.38<F1>
<PER-SHARE-NII> .23<F1>
<PER-SHARE-GAIN-APPREC> 1.64<F1>
<PER-SHARE-DIVIDEND> .23<F1>
<PER-SHARE-DISTRIBUTIONS> .32<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 13.70<F1>
<EXPENSE-RATIO> .73<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> 8
<NAME> PILOT INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 609509303
<INVESTMENTS-AT-VALUE> 695270788
<RECEIVABLES> 11490398
<ASSETS-OTHER> 5204936
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 711966122
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2107202
<TOTAL-LIABILITIES> 2107202
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 621489939
<SHARES-COMMON-STOCK> 1544135<F1>
<SHARES-COMMON-PRIOR> 1581654<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 216983
<ACCUMULATED-NET-GAINS> 3856273
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 84729691
<NET-ASSETS> 709858920
<DIVIDEND-INCOME> 2773927
<INTEREST-INCOME> 656310
<OTHER-INCOME> (189741)
<EXPENSES-NET> 3668929
<NET-INVESTMENT-INCOME> (428433)
<REALIZED-GAINS-CURRENT> 6504040
<APPREC-INCREASE-CURRENT> 18605953
<NET-CHANGE-FROM-OPS> 24681560
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 224687<F1>
<DISTRIBUTIONS-OF-GAINS> 530390<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 121839732
<NUMBER-OF-SHARES-REDEEMED> 36257326
<SHARES-REINVESTED> 13570407
<NET-CHANGE-IN-ASSETS> 103925355
<ACCUMULATED-NII-PRIOR> 7013267
<ACCUMULATED-GAINS-PRIOR> 10459434
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2650070
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3668929
<AVERAGE-NET-ASSETS> 26875737<F1>
<PER-SHARE-NAV-BEGIN> 16.90<F1>
<PER-SHARE-NII> (.04)<F1>
<PER-SHARE-GAIN-APPREC> .67<F1>
<PER-SHARE-DIVIDEND> .14<F1>
<PER-SHARE-DISTRIBUTIONS> .34<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 17.05<F1>
<EXPENSE-RATIO> 1.35<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> 8
<NAME> PILOT INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 609509303
<INVESTMENTS-AT-VALUE> 695270788
<RECEIVABLES> 11490398
<ASSETS-OTHER> 5204936
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 711966122
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2107202
<TOTAL-LIABILITIES> 2107202
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 621489939
<SHARES-COMMON-STOCK> 31422<F1>
<SHARES-COMMON-PRIOR> 10822<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 216983
<ACCUMULATED-NET-GAINS> 3856273
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 84729691
<NET-ASSETS> 709858920
<DIVIDEND-INCOME> 2773927
<INTEREST-INCOME> 656310
<OTHER-INCOME> (189741)
<EXPENSES-NET> 3668929
<NET-INVESTMENT-INCOME> (428433)
<REALIZED-GAINS-CURRENT> 6504040
<APPREC-INCREASE-CURRENT> 18605953
<NET-CHANGE-FROM-OPS> 24681560
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3305<F1>
<DISTRIBUTIONS-OF-GAINS> 8620<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 121839732
<NUMBER-OF-SHARES-REDEEMED> 36257326
<SHARES-REINVESTED> 13570407
<NET-CHANGE-IN-ASSETS> 103925355
<ACCUMULATED-NII-PRIOR> 7013267
<ACCUMULATED-GAINS-PRIOR> 10459434
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2650070
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3668929
<AVERAGE-NET-ASSETS> 429713<F1>
<PER-SHARE-NAV-BEGIN> 17.04<F1>
<PER-SHARE-NII> (.08)<F1>
<PER-SHARE-GAIN-APPREC> .63<F1>
<PER-SHARE-DIVIDEND> .12<F1>
<PER-SHARE-DISTRIBUTIONS> .34<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 17.13<F1>
<EXPENSE-RATIO> 2.10<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> 8
<NAME> PILOT INTERNATIONAL EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 609509303
<INVESTMENTS-AT-VALUE> 695270788
<RECEIVABLES> 11490398
<ASSETS-OTHER> 5204936
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 711966122
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2107202
<TOTAL-LIABILITIES> 2107202
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 621489939
<SHARES-COMMON-STOCK> 39718250<F1>
<SHARES-COMMON-PRIOR> 33969619<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 216983
<ACCUMULATED-NET-GAINS> 3856273
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 84729691
<NET-ASSETS> 709858920
<DIVIDEND-INCOME> 2773927
<INTEREST-INCOME> 656310
<OTHER-INCOME> (189741)
<EXPENSES-NET> 3668929
<NET-INVESTMENT-INCOME> (428433)
<REALIZED-GAINS-CURRENT> 6504040
<APPREC-INCREASE-CURRENT> 18605953
<NET-CHANGE-FROM-OPS> 24681560
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6573825<F1>
<DISTRIBUTIONS-OF-GAINS> 12568191<F1>
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 121839732
<NUMBER-OF-SHARES-REDEEMED> 36257326
<SHARES-REINVESTED> 13570407
<NET-CHANGE-IN-ASSETS> 103925355
<ACCUMULATED-NII-PRIOR> 7013267
<ACCUMULATED-GAINS-PRIOR> 10459434
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2650070
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3668929
<AVERAGE-NET-ASSETS> 641620222<F1>
<PER-SHARE-NAV-BEGIN> 17.05<F1>
<PER-SHARE-NII> .02<F1>
<PER-SHARE-GAIN-APPREC> .64<F1>
<PER-SHARE-DIVIDEND> .17<F1>
<PER-SHARE-DISTRIBUTIONS> .34<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 17.20<F1>
<EXPENSE-RATIO> 1.10<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> 9
<NAME> SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 456503274
<INVESTMENTS-AT-VALUE> 456503274
<RECEIVABLES> 2979049
<ASSETS-OTHER> 2038
<OTHER-ITEMS-ASSETS> 1325831
<TOTAL-ASSETS> 460810192
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1202311
<TOTAL-LIABILITIES> 1202311
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 459566045
<SHARES-COMMON-STOCK> 14339541
<SHARES-COMMON-PRIOR> 14549406
<ACCUMULATED-NII-CURRENT> 41741
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 95
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 459607881
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7281291
<OTHER-INCOME> 0
<EXPENSES-NET> 830477
<NET-INVESTMENT-INCOME> 6450814
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6450814
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 208672<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 497372489
<NUMBER-OF-SHARES-REDEEMED> 518867826
<SHARES-REINVESTED> 442282
<NET-CHANGE-IN-ASSETS> 21053055
<ACCUMULATED-NII-PRIOR> 41741
<ACCUMULATED-GAINS-PRIOR> 31893
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 414983
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 830477
<AVERAGE-NET-ASSETS> 14634876<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .014<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> .014<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .64<F1>
<AVG-DEBT-OUTSTANDING> 0<F1>
<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> 9
<NAME> SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 456503274
<INVESTMENTS-AT-VALUE> 456503274
<RECEIVABLES> 2979049
<ASSETS-OTHER> 2038
<OTHER-ITEMS-ASSETS> 1325831
<TOTAL-ASSETS> 460810192
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1202311
<TOTAL-LIABILITIES> 1202311
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 459566045
<SHARES-COMMON-STOCK> 6874987
<SHARES-COMMON-PRIOR> 906905
<ACCUMULATED-NII-CURRENT> 41741
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 95
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 459607881
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7281291
<OTHER-INCOME> 0
<EXPENSES-NET> 830477
<NET-INVESTMENT-INCOME> 6450814
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6450814
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 59697<F1>
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 497372489
<NUMBER-OF-SHARES-REDEEMED> 518867826
<SHARES-REINVESTED> 442282
<NET-CHANGE-IN-ASSETS> 21053055
<ACCUMULATED-NII-PRIOR> 41741
<ACCUMULATED-GAINS-PRIOR> 31893
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 414983
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 830477
<AVERAGE-NET-ASSETS> 4586163<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .013<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> .013<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .88<F1>
<AVG-DEBT-OUTSTANDING> 0<F1>
<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> 9
<NAME> SHORT-TERM TAX-EXEMPT DIVERSIFIED FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 456503274
<INVESTMENTS-AT-VALUE> 456503274
<RECEIVABLES> 2979049
<ASSETS-OTHER> 2038
<OTHER-ITEMS-ASSETS> 1325831
<TOTAL-ASSETS> 460810192
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1202311
<TOTAL-LIABILITIES> 1202311
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 459566045
<SHARES-COMMON-STOCK> 459610532
<SHARES-COMMON-PRIOR> 391205301
<ACCUMULATED-NII-CURRENT> 41741
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 95
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 459607881
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 7281291
<OTHER-INCOME> 0
<EXPENSES-NET> 830477
<NET-INVESTMENT-INCOME> 6450814
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
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<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 497372489
<NUMBER-OF-SHARES-REDEEMED> 518867826
<SHARES-REINVESTED> 442282
<NET-CHANGE-IN-ASSETS> 21053055
<ACCUMULATED-NII-PRIOR> 41741
<ACCUMULATED-GAINS-PRIOR> 31893
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 414983
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 830477
<AVERAGE-NET-ASSETS> 399186324<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .016<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> .016<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .39<F1>
<AVG-DEBT-OUTSTANDING> 0<F1>
<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> 10
<NAME> GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 313039589
<INVESTMENTS-AT-VALUE> 375799912
<RECEIVABLES> 1271965
<ASSETS-OTHER> 58963
<OTHER-ITEMS-ASSETS> 363
<TOTAL-ASSETS> 377131203
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2121230
<TOTAL-LIABILITIES> 2121230
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 296838770
<SHARES-COMMON-STOCK> 497929<F1>
<SHARES-COMMON-PRIOR> 361868<F1>
<ACCUMULATED-NII-CURRENT> 1120
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15409760
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 62760323
<NET-ASSETS> 375009973
<DIVIDEND-INCOME> 3795689
<INTEREST-INCOME> 228021
<OTHER-INCOME> 0
<EXPENSES-NET> 1158245
<NET-INVESTMENT-INCOME> 2865465
<REALIZED-GAINS-CURRENT> 19874450
<APPREC-INCREASE-CURRENT> 18432182
<NET-CHANGE-FROM-OPS> 41172097
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 48162<F1>
<DISTRIBUTIONS-OF-GAINS> 225850<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 213517194
<NUMBER-OF-SHARES-REDEEMED> 63181679
<SHARES-REINVESTED> 8596413
<NET-CHANGE-IN-ASSETS> 158931928
<ACCUMULATED-NII-PRIOR> 22405
<ACCUMULATED-GAINS-PRIOR> 8607188
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1123039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1478827
<AVERAGE-NET-ASSETS> 6138179<F1>
<PER-SHARE-NAV-BEGIN> 12.90<F1>
<PER-SHARE-NII> .11<F1>
<PER-SHARE-GAIN-APPREC> 1.76<F1>
<PER-SHARE-DIVIDEND> .11<F1>
<PER-SHARE-DISTRIBUTIONS> .50<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 14.16<F1>
<EXPENSE-RATIO> .95<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> 10
<NAME> GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 313039589
<INVESTMENTS-AT-VALUE> 375799912
<RECEIVABLES> 1271965
<ASSETS-OTHER> 58963
<OTHER-ITEMS-ASSETS> 363
<TOTAL-ASSETS> 377131203
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2121230
<TOTAL-LIABILITIES> 2121230
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 296838770
<SHARES-COMMON-STOCK> 381744<F1>
<SHARES-COMMON-PRIOR> 295864<F1>
<ACCUMULATED-NII-CURRENT> 1120
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15409760
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 62760323
<NET-ASSETS> 375009973
<DIVIDEND-INCOME> 3795689
<INTEREST-INCOME> 228021
<OTHER-INCOME> 0
<EXPENSES-NET> 1158245
<NET-INVESTMENT-INCOME> 2865465
<REALIZED-GAINS-CURRENT> 19874450
<APPREC-INCREASE-CURRENT> 18432182
<NET-CHANGE-FROM-OPS> 41172097
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 19194<F1>
<DISTRIBUTIONS-OF-GAINS> 175243<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 213517194
<NUMBER-OF-SHARES-REDEEMED> 63181679
<SHARES-REINVESTED> 8596413
<NET-CHANGE-IN-ASSETS> 158931928
<ACCUMULATED-NII-PRIOR> 22405
<ACCUMULATED-GAINS-PRIOR> 8607188
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1123039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1478827
<AVERAGE-NET-ASSETS> 4824142<F1>
<PER-SHARE-NAV-BEGIN> 12.91<F1>
<PER-SHARE-NII> .05<F1>
<PER-SHARE-GAIN-APPREC> 1.75<F1>
<PER-SHARE-DIVIDEND> .05<F1>
<PER-SHARE-DISTRIBUTIONS> .50<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 14.16<F1>
<EXPENSE-RATIO> 1.70<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> 10
<NAME> GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 313039589
<INVESTMENTS-AT-VALUE> 375799912
<RECEIVABLES> 1271965
<ASSETS-OTHER> 58963
<OTHER-ITEMS-ASSETS> 363
<TOTAL-ASSETS> 377131203
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2121230
<TOTAL-LIABILITIES> 2121230
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 296838770
<SHARES-COMMON-STOCK> 25596442<F1>
<SHARES-COMMON-PRIOR> 14134853<F1>
<ACCUMULATED-NII-CURRENT> 1120
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15409760
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 62760323
<NET-ASSETS> 375009973
<DIVIDEND-INCOME> 3795689
<INTEREST-INCOME> 228021
<OTHER-INCOME> 0
<EXPENSES-NET> 1158245
<NET-INVESTMENT-INCOME> 2865465
<REALIZED-GAINS-CURRENT> 19874450
<APPREC-INCREASE-CURRENT> 18432182
<NET-CHANGE-FROM-OPS> 41172097
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2819394<F1>
<DISTRIBUTIONS-OF-GAINS> 12670785<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 213517194
<NUMBER-OF-SHARES-REDEEMED> 63181679
<SHARES-REINVESTED> 8596413
<NET-CHANGE-IN-ASSETS> 158931928
<ACCUMULATED-NII-PRIOR> 22405
<ACCUMULATED-GAINS-PRIOR> 8607188
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1123039
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1478827
<AVERAGE-NET-ASSETS> 313761665<F1>
<PER-SHARE-NAV-BEGIN> 12.90<F1>
<PER-SHARE-NII> .12<F1>
<PER-SHARE-GAIN-APPREC> 1.76<F1>
<PER-SHARE-DIVIDEND> .12<F1>
<PER-SHARE-DISTRIBUTIONS> .50<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 14.16<F1>
<EXPENSE-RATIO> .70<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> 11
<NAME> PILOT INTERMEDIATE U.S. GOVERNMENT SERCURITIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 243473471
<INVESTMENTS-AT-VALUE> 242207105
<RECEIVABLES> 1912936
<ASSETS-OTHER> 2098
<OTHER-ITEMS-ASSETS> 53368
<TOTAL-ASSETS> 244175507
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1148307
<TOTAL-LIABILITIES> 1148307
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 220409474
<SHARES-COMMON-STOCK> 12559<F1>
<SHARES-COMMON-PRIOR> 91731<F1>
<ACCUMULATED-NII-CURRENT> 22512
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 122212
<ACCUM-APPREC-OR-DEPREC> (1266366)
<NET-ASSETS> 243027200
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6911644
<OTHER-INCOME> 0
<EXPENSES-NET> 664682
<NET-INVESTMENT-INCOME> 6246962
<REALIZED-GAINS-CURRENT> 195771
<APPREC-INCREASE-CURRENT> 2469238
<NET-CHANGE-FROM-OPS> 8911971
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 33869<F1>
<DISTRIBUTIONS-OF-GAINS> 17333<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 40047483
<NUMBER-OF-SHARES-REDEEMED> 28395238
<SHARES-REINVESTED> 1179796
<NET-CHANGE-IN-ASSETS> 12065246
<ACCUMULATED-NII-PRIOR> 22072
<ACCUMULATED-GAINS-PRIOR> 3114261
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 574383
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 827396
<AVERAGE-NET-ASSETS> 1344560<F1>
<PER-SHARE-NAV-BEGIN> 10.16<F1>
<PER-SHARE-NII> .26<F1>
<PER-SHARE-GAIN-APPREC> .12<F1>
<PER-SHARE-DIVIDEND> .26<F1>
<PER-SHARE-DISTRIBUTIONS> .15<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.13<F1>
<EXPENSE-RATIO> .81<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> 11
<NAME> PILOT INTERMEDIATE U.S. GOVERNMENT SERCURITIES
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 243473471
<INVESTMENTS-AT-VALUE> 242207105
<RECEIVABLES> 1912936
<ASSETS-OTHER> 2098
<OTHER-ITEMS-ASSETS> 53368
<TOTAL-ASSETS> 244175507
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1148307
<TOTAL-LIABILITIES> 1148307
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 220409474
<SHARES-COMMON-STOCK> 23858202<F1>
<SHARES-COMMON-PRIOR> 22639312<F1>
<ACCUMULATED-NII-CURRENT> 22512
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 122212
<ACCUM-APPREC-OR-DEPREC> (1266366)
<NET-ASSETS> 243027200
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6911644
<OTHER-INCOME> 0
<EXPENSES-NET> 664682
<NET-INVESTMENT-INCOME> 6246962
<REALIZED-GAINS-CURRENT> 195771
<APPREC-INCREASE-CURRENT> 2469238
<NET-CHANGE-FROM-OPS> 8911971
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6212653<F1>
<DISTRIBUTIONS-OF-GAINS> 3292699<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 40047483
<NUMBER-OF-SHARES-REDEEMED> 28395238
<SHARES-REINVESTED> 1179796
<NET-CHANGE-IN-ASSETS> 12065246
<ACCUMULATED-NII-PRIOR> 22072
<ACCUMULATED-GAINS-PRIOR> 3114261
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 574383
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 827396
<AVERAGE-NET-ASSETS> 235799882<F1>
<PER-SHARE-NAV-BEGIN> 10.16<F1>
<PER-SHARE-NII> .27<F1>
<PER-SHARE-GAIN-APPREC> .12<F1>
<PER-SHARE-DIVIDEND> .27<F1>
<PER-SHARE-DISTRIBUTIONS> .15<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.13<F1>
<EXPENSE-RATIO> .56<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> 12
<NAME> PILOT SMALL CAPITALIZATION EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 102346717
<INVESTMENTS-AT-VALUE> 110963794
<RECEIVABLES> 51371
<ASSETS-OTHER> 35912
<OTHER-ITEMS-ASSETS> 16923
<TOTAL-ASSETS> 111068000
<PAYABLE-FOR-SECURITIES> 136732
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 177930
<TOTAL-LIABILITIES> 314662
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 102898261
<SHARES-COMMON-STOCK> 311425<F1>
<SHARES-COMMON-PRIOR> 245417<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 948
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 1228957
<ACCUM-APPREC-OR-DEPREC> 9084982
<NET-ASSETS> 110753338
<DIVIDEND-INCOME> 488479
<INTEREST-INCOME> 264547
<OTHER-INCOME> 0
<EXPENSES-NET> 474893
<NET-INVESTMENT-INCOME> 278133
<REALIZED-GAINS-CURRENT> (1430716)
<APPREC-INCREASE-CURRENT> 8463495
<NET-CHANGE-FROM-OPS> 7310912
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6490<F1>
<DISTRIBUTIONS-OF-GAINS> 12306<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 31939507
<NUMBER-OF-SHARES-REDEEMED> 2922706
<SHARES-REINVESTED> 118417
<NET-CHANGE-IN-ASSETS> 35780270
<ACCUMULATED-NII-PRIOR> 7331
<ACCUMULATED-GAINS-PRIOR> 581207
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 441548
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 656801
<AVERAGE-NET-ASSETS> 3155778<F1>
<PER-SHARE-NAV-BEGIN> 10.64<F1>
<PER-SHARE-NII> .02<F1>
<PER-SHARE-GAIN-APPREC> .97<F1>
<PER-SHARE-DIVIDEND> .02<F1>
<PER-SHARE-DISTRIBUTIONS> .05<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.56<F1>
<EXPENSE-RATIO> 1.22<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> 12
<NAME> PILOT SMALL CAPITALIZATION EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 102346717
<INVESTMENTS-AT-VALUE> 110963794
<RECEIVABLES> 51371
<ASSETS-OTHER> 35912
<OTHER-ITEMS-ASSETS> 16923
<TOTAL-ASSETS> 111068000
<PAYABLE-FOR-SECURITIES> 136732
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 177930
<TOTAL-LIABILITIES> 314662
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 102898261
<SHARES-COMMON-STOCK> 222396<F1>
<SHARES-COMMON-PRIOR> 176356<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 948
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 1228957
<ACCUM-APPREC-OR-DEPREC> 9084982
<NET-ASSETS> 110753338
<DIVIDEND-INCOME> 488479
<INTEREST-INCOME> 264547
<OTHER-INCOME> 0
<EXPENSES-NET> 474893
<NET-INVESTMENT-INCOME> 278133
<REALIZED-GAINS-CURRENT> (1430716)
<APPREC-INCREASE-CURRENT> 8463495
<NET-CHANGE-FROM-OPS> 7310912
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 591<F1>
<DISTRIBUTIONS-OF-GAINS> 9752<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 31939507
<NUMBER-OF-SHARES-REDEEMED> 2922706
<SHARES-REINVESTED> 118417
<NET-CHANGE-IN-ASSETS> 35780270
<ACCUMULATED-NII-PRIOR> 7331
<ACCUMULATED-GAINS-PRIOR> 581207
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 441548
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 565359
<AVERAGE-NET-ASSETS> 2381671<F1>
<PER-SHARE-NAV-BEGIN> 10.65<F1>
<PER-SHARE-NII> .00<F1>
<PER-SHARE-GAIN-APPREC> .95<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> .05<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.55<F1>
<EXPENSE-RATIO> 1.97<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 12
<NAME> PILOT SMALL CAPITALIZATION EQUITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 102346717
<INVESTMENTS-AT-VALUE> 110963794
<RECEIVABLES> 51371
<ASSETS-OTHER> 35912
<OTHER-ITEMS-ASSETS> 16923
<TOTAL-ASSETS> 111068000
<PAYABLE-FOR-SECURITIES> 136732
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 177930
<TOTAL-LIABILITIES> 314662
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 102898261
<SHARES-COMMON-STOCK> 9037919<F1>
<SHARES-COMMON-PRIOR> 6617289<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 948
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 1228957
<ACCUM-APPREC-OR-DEPREC> 9084982
<NET-ASSETS> 110753338
<DIVIDEND-INCOME> 488479
<INTEREST-INCOME> 264547
<OTHER-INCOME> 0
<EXPENSES-NET> 474893
<NET-INVESTMENT-INCOME> 278133
<REALIZED-GAINS-CURRENT> (1430716)
<APPREC-INCREASE-CURRENT> 8463495
<NET-CHANGE-FROM-OPS> 7310912
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 279331<F1>
<DISTRIBUTIONS-OF-GAINS> 357390<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 31939507
<NUMBER-OF-SHARES-REDEEMED> 2922706
<SHARES-REINVESTED> 118417
<NET-CHANGE-IN-ASSETS> 29135218
<ACCUMULATED-NII-PRIOR> 7331
<ACCUMULATED-GAINS-PRIOR> 581207
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 441548
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 565359
<AVERAGE-NET-ASSETS> 89997356<F1>
<PER-SHARE-NAV-BEGIN> 10.65<F1>
<PER-SHARE-NII> .04<F1>
<PER-SHARE-GAIN-APPREC> .97<F1>
<PER-SHARE-DIVIDEND> .04<F1>
<PER-SHARE-DISTRIBUTIONS> .05<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.57F1>
<EXPENSE-RATIO> .97<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> 13
<NAME> PILOT GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 41417624
<INVESTMENTS-AT-VALUE> 50416800
<RECEIVABLES> 83509
<ASSETS-OTHER> 59323
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50558632
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 473211
<TOTAL-LIABILITIES> 473211
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38052671
<SHARES-COMMON-STOCK> 9890<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 1090
<ACCUMULATED-NET-GAINS> 3034644
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8999176
<NET-ASSETS> 50085421
<DIVIDEND-INCOME> 218181
<INTEREST-INCOME> 10616
<OTHER-INCOME> 0
<EXPENSES-NET> 187615
<NET-INVESTMENT-INCOME> 41182
<REALIZED-GAINS-CURRENT> 3034664
<APPREC-INCREASE-CURRENT> (1923069)
<NET-CHANGE-FROM-OPS> 1152777
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 30<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 101000<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 50085421
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140522
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 210397
<AVERAGE-NET-ASSETS> 44109<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> 0<F1>
<PER-SHARE-GAIN-APPREC> .21<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> .00<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.21<F1>
<EXPENSE-RATIO> 1.25<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> 13
<NAME> PILOT GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 41417624
<INVESTMENTS-AT-VALUE> 50416800
<RECEIVABLES> 83509
<ASSETS-OTHER> 59323
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50558632
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 473211
<TOTAL-LIABILITIES> 473211
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38052671
<SHARES-COMMON-STOCK> 13605<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 1090
<ACCUMULATED-NET-GAINS> 3034644
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8999176
<NET-ASSETS> 50085421
<DIVIDEND-INCOME> 218181
<INTEREST-INCOME> 10616
<OTHER-INCOME> 0
<EXPENSES-NET> 187615
<NET-INVESTMENT-INCOME> 41182
<REALIZED-GAINS-CURRENT> 3034664
<APPREC-INCREASE-CURRENT> (1923069)
<NET-CHANGE-FROM-OPS> 1152777
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 137000<F1>
<NUMBER-OF-SHARES-REDEEMED> 0<F1>
<SHARES-REINVESTED> 0<F1>
<NET-CHANGE-IN-ASSETS> 50085421
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140522
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 210397
<AVERAGE-NET-ASSETS> 78861<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> (.01)<F1>
<PER-SHARE-GAIN-APPREC> .19<F1>
<PER-SHARE-DIVIDEND> 0<F1>
<PER-SHARE-DISTRIBUTIONS> .00<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.18<F1>
<EXPENSE-RATIO> 2.00<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> 13
<NAME> PILOT GROWTH FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 41417624
<INVESTMENTS-AT-VALUE> 50416800
<RECEIVABLES> 83509
<ASSETS-OTHER> 59323
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 50558632
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 473211
<TOTAL-LIABILITIES> 473211
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 38052671
<SHARES-COMMON-STOCK> 4883017<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 1090
<ACCUMULATED-NET-GAINS> 3034644
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 8999176
<NET-ASSETS> 50085421
<DIVIDEND-INCOME> 218181
<INTEREST-INCOME> 10616
<OTHER-INCOME> 0
<EXPENSES-NET> 187615
<NET-INVESTMENT-INCOME> 41182
<REALIZED-GAINS-CURRENT> 3034664
<APPREC-INCREASE-CURRENT> (1923069)
<NET-CHANGE-FROM-OPS> 1152777
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 41369<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 873<F1>
<NUMBER-OF-SHARES-SOLD> 61048000<F1>
<NUMBER-OF-SHARES-REDEEMED> 12348000<F1>
<SHARES-REINVESTED> 37000<F1>
<NET-CHANGE-IN-ASSETS> 50085421
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 140522
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 210397
<AVERAGE-NET-ASSETS> 52132316<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .01<F1>
<PER-SHARE-GAIN-APPREC> .21<F1>
<PER-SHARE-DIVIDEND> .01<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.21<F1>
<EXPENSE-RATIO> 1.00<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000704178
<NAME> THE PILOT FUNDS
<SERIES>
<NUMBER> 14
<NAME> PILOT DIVERSIFIED BOND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 108734975
<INVESTMENTS-AT-VALUE> 108707128
<RECEIVABLES> 1566913
<ASSETS-OTHER> 57901
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 110331942
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2082399
<TOTAL-LIABILITIES> 2082399
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 108031944
<SHARES-COMMON-STOCK> 18776<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 245446
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (27847)
<NET-ASSETS> 108249543
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2751771
<OTHER-INCOME> 0
<EXPENSES-NET> 279011
<NET-INVESTMENT-INCOME> 2472760
<REALIZED-GAINS-CURRENT> 615289
<APPREC-INCREASE-CURRENT> (1173319)
<NET-CHANGE-FROM-OPS> 1914730
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2426<F1>
<DISTRIBUTIONS-OF-GAINS> 489<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 14883000
<NUMBER-OF-SHARES-REDEEMED> 4215000
<SHARES-REINVESTED> 242000
<NET-CHANGE-IN-ASSETS> 108249543
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 224564
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 335065
<AVERAGE-NET-ASSETS> 138352<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .20<F1>
<PER-SHARE-GAIN-APPREC> (.04)<F1>
<PER-SHARE-DIVIDEND> .20<F1>
<PER-SHARE-DISTRIBUTIONS> .03<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.93<F1>
<EXPENSE-RATIO> .90<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> 14
<NAME> PILOT DIVERSIFIED BOND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 108734975
<INVESTMENTS-AT-VALUE> 108707128
<RECEIVABLES> 1566913
<ASSETS-OTHER> 57901
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 110331942
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2082399
<TOTAL-LIABILITIES> 2082399
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 108031944
<SHARES-COMMON-STOCK> 30561<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 245446
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (27847)
<NET-ASSETS> 108249543
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2751771
<OTHER-INCOME> 0
<EXPENSES-NET> 279011
<NET-INVESTMENT-INCOME> 2472760
<REALIZED-GAINS-CURRENT> 615289
<APPREC-INCREASE-CURRENT> (1173319)
<NET-CHANGE-FROM-OPS> 1914730
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3579<F1>
<DISTRIBUTIONS-OF-GAINS> 811<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 14883000
<NUMBER-OF-SHARES-REDEEMED> 4215000
<SHARES-REINVESTED> 242000
<NET-CHANGE-IN-ASSETS> 108249543
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 224564
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 335065
<AVERAGE-NET-ASSETS> 224928<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .18<F1>
<PER-SHARE-GAIN-APPREC> (.05)<F1>
<PER-SHARE-DIVIDEND> .18<F1>
<PER-SHARE-DISTRIBUTIONS> .03<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.92<F1>
<EXPENSE-RATIO> 1.65<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> 14
<NAME> PILOT DIVERSIFIED BOND INCOME FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> AUG-31-1997
<PERIOD-START> SEP-01-1996
<PERIOD-END> FEB-28-1997
<INVESTMENTS-AT-COST> 108734975
<INVESTMENTS-AT-VALUE> 108707128
<RECEIVABLES> 1566913
<ASSETS-OTHER> 57901
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 110331942
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2082399
<TOTAL-LIABILITIES> 2082399
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 108031944
<SHARES-COMMON-STOCK> 10859979<F1>
<SHARES-COMMON-PRIOR> 0<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 245446
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (27847)
<NET-ASSETS> 108249543
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2751771
<OTHER-INCOME> 0
<EXPENSES-NET> 279011
<NET-INVESTMENT-INCOME> 2472760
<REALIZED-GAINS-CURRENT> 615289
<APPREC-INCREASE-CURRENT> (1173319)
<NET-CHANGE-FROM-OPS> 1914730
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2466755<F1>
<DISTRIBUTIONS-OF-GAINS> 368543<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 14883000
<NUMBER-OF-SHARES-REDEEMED> 4215000
<SHARES-REINVESTED> 242000
<NET-CHANGE-IN-ASSETS> 108249543
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 224564
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 335065
<AVERAGE-NET-ASSETS> 118495178<F1>
<PER-SHARE-NAV-BEGIN> 10.00<F1>
<PER-SHARE-NII> .21<F1>
<PER-SHARE-GAIN-APPREC> (.05)<F1>
<PER-SHARE-DIVIDEND> .21<F1>
<PER-SHARE-DISTRIBUTIONS> .03<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.92<F1>
<EXPENSE-RATIO> .65<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Pilot Shares
</FN>
</TABLE>
