<PAGE> PAGE 1
000 B000000 03/31/97
000 C000000 0000749748
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 CASH ASSETS TRUST
001 B000000 811-4066
001 C000000 2126976666
002 A000000 380 MADISON AVENUE, SUITE 2300
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 3
007 C010100 1
007 C020100 PACIFIC CAPITAL CASH ASSETS TRUST
007 C030100 N
007 C010200 2
007 C020200 PACIFIC CAPITAL TAX-FREE CASH ASSETS TRUST
007 C030200 N
007 C010300 3
007 C020300 PACIFIC CAP. US TREASURIES CASH ASSETS TRUST
007 C030300 N
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 HAWAIIAN TRUST COMPANY, LIMITED
008 B00AA01 A
008 C00AA01 801-000000
008 D01AA01 HONOLULU
008 D02AA01 HI
008 D03AA01 96802
010 A00AA01 AQUILA MANAGEMENT CORPORATION
010 B00AA01 801-22119
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10017
011 A00AA01 AQUILA DISTRIBUTORS, INC.
011 B00AA01 8-13173
<PAGE> PAGE 2
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10017
012 A00AA01 ADMINISTRATIVE DATA MANAGEMENT CORP.
012 B00AA01 84-00192
012 C01AA01 WOODBRIDGE
012 C02AA01 NJ
012 C03AA01 07095
013 A00AA01 KPMG PEAT MARWICK LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10154
015 A00AA01 BANK ONE TRUST COMPANY, N.A.
015 B00AA01 C
015 C01AA01 COLUMBUS
015 C02AA01 OH
015 C03AA01 43271
015 E01AA01 X
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 DRESDNER KLEINWORT
022 B000001 13-3894311
022 C000001 12035972
022 D000001 106399
022 A000002 SBC WARBURG, INC.
022 B000002 13-3340045
022 C000002 10071936
022 D000002 0
022 A000003 MERRILL LYNCH
022 B000003 13-5674085
022 C000003 4908620
022 D000003 65527
022 A000004 UBS SECURITIES
022 B000004 13-2932996
022 C000004 4083007
022 D000004 0
022 A000005 BANK AMERICA SECURITIES
022 B000005 94-2622622
022 C000005 893278
<PAGE> PAGE 3
022 D000005 188335
022 A000006 JP MORGAN
022 B000006 13-3224016
022 C000006 756592
022 D000006 0
022 A000007 BZW SECURITIES
022 B000007 00-0000000
022 C000007 656134
022 D000007 0
022 A000008 NUVEEN
022 B000008 36-2639476
022 C000008 254620
022 D000008 257305
022 A000009 FUJI SECURITIES
022 B000009 36-2880742
022 C000009 136393
022 D000009 175005
022 A000010 LEHMAN BROTHERS
022 B000010 13-2518466
022 C000010 281666
022 D000010 25205
023 C000000 35641360
023 D000000 1038073
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 Y
054 A00AA00 Y
054 B00AA00 Y
<PAGE> PAGE 4
054 C00AA00 Y
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 Y
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 Y
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 Y
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 Y
077 C000000 Y
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 A00AA00 ICI MUTUAL INSURANCE COMPANY
080 C00AA00 10000
081 A00AA00 Y
081 B00AA00 15
082 A00AA00 Y
082 B00AA00 50
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
084 B00AA00 0
085 A00AA00 N
085 B00AA00 N
086 A010000 0
<PAGE> PAGE 5
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
024 000100 Y
025 A000101 BARCLAYS(BZW)PLC
025 B000101 00-0000000
025 C000101 D
025 D000101 9400
025 A000102 SBC WARBURG, INC.
025 B000102 13-3340045
025 C000102 D
025 D000102 72300
025 A000103 DRESDNER KLEINWORT
025 B000103 13-3894311
025 C000103 D
025 D000103 72000
025 D000104 0
025 D000105 0
025 D000106 0
025 D000107 0
025 D000108 0
028 A010100 160014
028 A020100 194
028 A030100 0
028 A040100 147770
028 B010100 99836
028 B020100 236
028 B030100 0
028 B040100 109814
028 C010100 192630
028 C020100 218
028 C030100 0
028 C040100 159589
028 D010100 149770
028 D020100 235
028 D030100 0
028 D040100 112190
028 E010100 140564
028 E020100 248
028 E030100 0
028 E040100 141925
028 F010100 149608
028 F020100 232
<PAGE> PAGE 6
028 F030100 0
028 F040100 120855
028 G010100 892422
028 G020100 1363
028 G030100 0
028 G040100 792143
028 H000100 0
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 126
044 000100 0
045 000100 Y
046 000100 N
047 000100 Y
048 000100 0.000
048 A010100 325000
048 A020100 0.330
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
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 325000
048 K020100 0.430
049 000100 N
050 000100 N
051 000100 N
052 000100 N
053 A000100 N
055 A000100 Y
055 B000100 N
056 000100 Y
<PAGE> PAGE 7
057 000100 N
058 A000100 N
059 000100 Y
060 A000100 Y
060 B000100 Y
061 000100 1000
062 A000100 Y
062 B000100 5.1
062 C000100 16.3
062 D000100 29.6
062 E000100 0.0
062 F000100 0.0
062 G000100 0.0
062 H000100 0.0
062 I000100 46.3
062 J000100 0.0
062 K000100 0.0
062 L000100 3.1
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 26
063 B000100 0.0
064 A000100 N
064 B000100 N
070 A010100 Y
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 N
070 K020100 N
070 L010100 Y
<PAGE> PAGE 8
070 L020100 Y
070 M010100 N
070 M020100 N
070 N010100 Y
070 N020100 N
070 O010100 Y
070 O020100 N
070 P010100 Y
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 12
072 B000100 21924
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 1425
072 G000100 609
072 H000100 0
072 I000100 18
072 J000100 15
072 K000100 0
072 L000100 42
072 M000100 118
072 N000100 16
072 O000100 0
072 P000100 0
072 Q000100 0
072 R000100 22
072 S000100 119
072 T000100 126
072 U000100 0
072 V000100 0
072 W000100 70
072 X000100 2580
072 Y000100 6
072 Z000100 19350
072AA000100 0
072BB000100 721
072CC010100 0
072CC020100 0
072DD010100 17064
072DD020100 2285
072EE000100 0
073 A010100 0.0477
<PAGE> PAGE 9
073 A020100 0.0452
073 B000100 0.0000
073 C000100 0.0000
074 A000100 1
074 B000100 144345
074 C000100 344808
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 97
074 M000100 12
074 N000100 489263
074 O000100 0
074 P000100 0
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 2135
074 S000100 0
074 T000100 487128
074 U010100 422093
074 U020100 65751
074 V010100 1.00
074 V020100 1.00
074 W000100 0.9983
074 X000100 29
074 Y000100 0
075 A000100 407063
075 B000100 0
076 000100 0.00
024 000200 N
025 D000201 0
025 D000202 0
025 D000203 0
025 D000204 0
025 D000205 0
025 D000206 0
025 D000207 0
025 D000208 0
028 A010200 34796
028 A020200 51
028 A030200 0
028 A040200 30807
028 B010200 20897
028 B020200 61
<PAGE> PAGE 10
028 B030200 0
028 B040200 50762
028 C010200 22488
028 C020200 57
028 C030200 0
028 C040200 20750
028 D010200 25232
028 D020200 61
028 D030200 0
028 D040200 54568
028 E010200 21193
028 E020200 63
028 E030200 0
028 E040200 9012
028 F010200 10792
028 F020200 55
028 F030200 0
028 F040200 13911
028 G010200 135398
028 G020200 348
028 G030200 0
028 G040200 179810
028 H000200 0
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 51
044 000200 0
045 000200 Y
046 000200 N
047 000200 Y
048 000200 0.000
048 A010200 95000
048 A020200 0.270
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
<PAGE> PAGE 11
048 H010200 0
048 H020200 0.000
048 I010200 0
048 I020200 0.000
048 J010200 0
048 J020200 0.000
048 K010200 95000
048 K020200 0.330
049 000200 N
050 000200 N
051 000200 N
052 000200 N
053 A000200 N
055 A000200 Y
055 B000200 N
056 000200 Y
057 000200 N
058 A000200 N
059 000200 Y
060 A000200 N
060 B000200 N
061 000200 1000
062 A000200 Y
062 B000200 0.0
062 C000200 0.0
062 D000200 0.0
062 E000200 99.5
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 71
063 B000200 0.0
064 A000200 Y
064 B000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
<PAGE> PAGE 12
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
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 Y
070 N020200 N
070 O010200 Y
070 O020200 N
070 P010200 Y
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 12
072 B000200 4979
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 411
072 G000200 156
072 H000200 0
072 I000200 17
072 J000200 13
072 K000200 0
072 L000200 10
072 M000200 56
072 N000200 5
072 O000200 0
072 P000200 0
072 Q000200 0
072 R000200 22
<PAGE> PAGE 13
072 S000200 47
072 T000200 51
072 U000200 0
072 V000200 0
072 W000200 40
072 X000200 828
072 Y000200 1
072 Z000200 4152
072AA000200 0
072BB000200 0
072CC010200 0
072CC020200 0
072DD010200 3600
072DD020200 552
072EE000200 0
073 A010200 0.0296
073 A020200 0.0271
073 B000200 0.0000
073 C000200 0.0000
074 A000200 2
074 B000200 0
074 C000200 115893
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 956
074 M000200 0
074 N000200 116851
074 O000200 0
074 P000200 0
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 339
074 S000200 0
074 T000200 116512
074 U010200 90994
074 U020200 25516
074 V010200 1.00
074 V020200 1.00
074 W000200 0.9999
074 X000200 74
074 Y000200 0
075 A000200 141765
075 B000200 0
<PAGE> PAGE 14
076 000200 0.00
024 000300 Y
025 A000301 DRESDNER KLEINWORT
025 B000301 13-3894311
025 C000301 D
025 D000301 20000
025 A000302 SBC WARBURG
025 B000302 13-3340045
025 C000302 D
025 D000302 18800
025 D000303 0
025 D000304 0
025 D000305 0
025 D000306 0
025 D000307 0
025 D000308 0
028 A010300 78212
028 A020300 297
028 A030300 0
028 A040300 95267
028 B010300 100011
028 B020300 257
028 B030300 0
028 B040300 59736
028 C010300 96882
028 C020300 255
028 C030300 0
028 C040300 119080
028 D010300 41356
028 D020300 316
028 D030300 0
028 D040300 53459
028 E010300 72756
028 E020300 268
028 E030300 0
028 E040300 57472
028 F010300 69144
028 F020300 257
028 F030300 0
028 F040300 69659
028 G010300 458361
028 G020300 1650
028 G030300 0
028 G040300 454673
028 H000300 0
042 A000300 0
042 B000300 0
042 C000300 100
042 D000300 0
042 E000300 0
042 F000300 0
<PAGE> PAGE 15
042 G000300 0
042 H000300 0
043 000300 141
044 000300 0
045 000300 Y
046 000300 N
047 000300 Y
048 000300 0.000
048 A010300 60000
048 A020300 0.270
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 60000
048 K020300 0.330
049 000300 N
050 000300 N
051 000300 N
052 000300 N
053 A000300 N
055 A000300 Y
055 B000300 N
056 000300 Y
057 000300 N
058 A000300 N
059 000300 Y
060 A000300 Y
060 B000300 Y
061 000300 1000
062 A000300 Y
062 B000300 73.8
062 C000300 0.0
062 D000300 26.0
062 E000300 0.0
062 F000300 0.0
062 G000300 0.0
<PAGE> PAGE 16
062 H000300 0.0
062 I000300 0.0
062 J000300 0.0
062 K000300 0.0
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 0.0
063 A000300 43
063 B000300 0.0
064 A000300 N
064 B000300 N
070 A010300 Y
070 A020300 Y
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 N
070 K020300 N
070 L010300 Y
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
<PAGE> PAGE 17
071 A000300 0
071 B000300 0
071 C000300 0
071 D000300 0
072 A000300 12
072 B000300 6564
072 C000300 0
072 D000300 0
072 E000300 0
072 F000300 379
072 G000300 124
072 H000300 0
072 I000300 13
072 J000300 13
072 K000300 0
072 L000300 7
072 M000300 45
072 N000300 4
072 O000300 0
072 P000300 0
072 Q000300 0
072 R000300 19
072 S000300 34
072 T000300 141
072 U000300 0
072 V000300 0
072 W000300 57
072 X000300 836
072 Y000300 7
072 Z000300 5735
072AA000300 4
072BB000300 0
072CC010300 0
072CC020300 0
072DD010300 3219
072DD020300 2516
072EE000300 0
073 A010300 0.0466
073 A020300 0.0441
073 B000300 0.0000
073 C000300 0.0000
074 A000300 1
074 B000300 38851
074 C000300 109994
074 D000300 0
074 E000300 0
074 F000300 0
074 G000300 0
074 H000300 0
074 I000300 0
074 J000300 0
<PAGE> PAGE 18
074 K000300 0
074 L000300 960
074 M000300 0
074 N000300 149806
074 O000300 0
074 P000300 0
074 Q000300 0
074 R010300 0
074 R020300 0
074 R030300 0
074 R040300 675
074 S000300 0
074 T000300 149131
074 U010300 65699
074 U020300 83422
074 V010300 1.00
074 V020300 1.00
074 W000300 0.9995
074 X000300 15
074 Y000300 0
075 A000300 125910
075 B000300 0
076 000300 0.00
SIGNATURE PATRICIA A. CRAVEN
TITLE ASSISTANT SECRETARY
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S ANNUAL REPORT DATED MARCH 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000749748
<NAME> PACIFIC CAPITAL CASH ASSETS TRUST - ORIGINAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 489,153,390
<INVESTMENTS-AT-VALUE> 489,153,390
<RECEIVABLES> 96,606
<ASSETS-OTHER> 12,181
<OTHER-ITEMS-ASSETS> 918
<TOTAL-ASSETS> 489,263,095
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,134,637
<TOTAL-LIABILITIES> 2,134,637
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 487,844,396
<SHARES-COMMON-STOCK> 422,093,185
<SHARES-COMMON-PRIOR> 309,435,696
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (715,938)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 487,128,458
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 21,924,205
<OTHER-INCOME> 0
<EXPENSES-NET> 2,574,389
<NET-INVESTMENT-INCOME> 19,349,816
<REALIZED-GAINS-CURRENT> 46,777
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 19,396,593
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 17,064,462
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,381,029,520
<NUMBER-OF-SHARES-REDEEMED> 1,268,495,494
<SHARES-REINVESTED> 123,463
<NET-CHANGE-IN-ASSETS> 145,605,565
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,424,936
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,580,850
<AVERAGE-NET-ASSETS> 356,585,891
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S ANNUAL REPORT DATED MARCH 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000749748
<NAME> PACIFIC CAPITAL CASH ASSETS TRUST - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 489,153,390
<INVESTMENTS-AT-VALUE> 489,153,390
<RECEIVABLES> 96,606
<ASSETS-OTHER> 12,181
<OTHER-ITEMS-ASSETS> 918
<TOTAL-ASSETS> 489,263,095
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,134,637
<TOTAL-LIABILITIES> 2,134,637
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 487,844,396
<SHARES-COMMON-STOCK> 65,751,211
<SHARES-COMMON-PRIOR> 32,849,912
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (715,938)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 65,763,010
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 21,924,205
<OTHER-INCOME> 0
<EXPENSES-NET> 2,574,389
<NET-INVESTMENT-INCOME> 19,349,816
<REALIZED-GAINS-CURRENT> 46,777
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 19,396,593
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,285,354
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 363,384,239
<NUMBER-OF-SHARES-REDEEMED> 332,639,067
<SHARES-REINVESTED> 2,156,127
<NET-CHANGE-IN-ASSETS> 145,605,565
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,424,936
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,580,850
<AVERAGE-NET-ASSETS> 50,476,836
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.05)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .85
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S ANNUAL REPORT DATED MARCH 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000749748
<NAME> PACIFIC CAPITAL TAX-FREE CASH ASSETS TRUST - ORIGINAL SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 115,893,101
<INVESTMENTS-AT-VALUE> 115,893,101
<RECEIVABLES> 956,006
<ASSETS-OTHER> 632
<OTHER-ITEMS-ASSETS> 1,607
<TOTAL-ASSETS> 116,851,346
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 339,837
<TOTAL-LIABILITIES> 339,837
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 116,509,378
<SHARES-COMMON-STOCK> 90,993,746
<SHARES-COMMON-PRIOR> 125,179,215
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,131)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 90,995,199
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,979,053
<OTHER-INCOME> 0
<EXPENSES-NET> 827,362
<NET-INVESTMENT-INCOME> 4,151,691
<REALIZED-GAINS-CURRENT> 2,857
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,154,548
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,599,870
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 253,991,606
<NUMBER-OF-SHARES-REDEEMED> 288,308,370
<SHARES-REINVESTED> 131,295
<NET-CHANGE-IN-ASSETS> (26,275,744)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 410,547
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 828,629
<AVERAGE-NET-ASSETS> 121,345,538
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S ANNUAL REPORT DATED MARCH 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000749748
<NAME> PACIFIC CAPITAL TAX-FREE CASH ASSETS TRUST - SERVICE SHARES
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 115,893,101
<INVESTMENTS-AT-VALUE> 115,893,101
<RECEIVABLES> 956,006
<ASSETS-OTHER> 632
<OTHER-ITEMS-ASSETS> 1,607
<TOTAL-ASSETS> 116,851,346
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 339,837
<TOTAL-LIABILITIES> 339,837
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 116,509,378
<SHARES-COMMON-STOCK> 25,515,631
<SHARES-COMMON-PRIOR> 17,608,764
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (2,131)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 25,516,310
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,979,053
<OTHER-INCOME> 0
<EXPENSES-NET> 827,362
<NET-INVESTMENT-INCOME> 4,151,691
<REALIZED-GAINS-CURRENT> 2,857
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 4,154,548
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 551,821
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 57,483,211
<NUMBER-OF-SHARES-REDEEMED> 50,112,294
<SHARES-REINVESTED> 535,951
<NET-CHANGE-IN-ASSETS> 26,275,744
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 410,547
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 828,629
<AVERAGE-NET-ASSETS> 20,419,098
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .80
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S ANNUAL REPORT DATED MARCH 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BE REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000749748
<NAME> PACIFIC CAPITAL US TREASURIES CASH ASSETS TRUST - ORIGINAL
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 148,845,046
<INVESTMENTS-AT-VALUE> 148,845,046
<RECEIVABLES> 960,389
<ASSETS-OTHER> 409
<OTHER-ITEMS-ASSETS> 538
<TOTAL-ASSETS> 149,806,382
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 675,668
<TOTAL-LIABILITIES> 675,668
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 149,121,159
<SHARES-COMMON-STOCK> 65,699,376
<SHARES-COMMON-PRIOR> 74,031,245
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,555
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 65,706,444
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,564,367
<OTHER-INCOME> 0
<EXPENSES-NET> 829,054
<NET-INVESTMENT-INCOME> 5,735,313
<REALIZED-GAINS-CURRENT> 4,476
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5,739,789
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3,218,910
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 347,794,907
<NUMBER-OF-SHARES-REDEEMED> 356,184,998
<SHARES-REINVESTED> 58,222
<NET-CHANGE-IN-ASSETS> 63,288,440
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 379,291
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 836,256
<AVERAGE-NET-ASSETS> 69,103,940
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .05
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> .05
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .55
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM THE
REGISTRANT'S ANNUAL REPORT DATED MARCH 31, 1997 AND IS QUALIFIED IN ITS
ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<CIK> 0000749748
<NAME> PACIFIC CAPITAL U.S. TREASURIES CASH ASSETS TRUST - SERVICE
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 148,845,046
<INVESTMENTS-AT-VALUE> 148,845,046
<RECEIVABLES> 960,389
<ASSETS-OTHER> 409
<OTHER-ITEMS-ASSETS> 538
<TOTAL-ASSETS> 149,806,382
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 675,668
<TOTAL-LIABILITIES> 675,668
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 149,121,159
<SHARES-COMMON-STOCK> 83,421,783
<SHARES-COMMON-PRIOR> 11,805,950
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 9,555
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 83,424,270
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6,564,367
<OTHER-INCOME> 0
<EXPENSES-NET> 829,054
<NET-INVESTMENT-INCOME> 5,735,313
<REALIZED-GAINS-CURRENT> 4,476
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5,739,789
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,516,403
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 614,489,280
<NUMBER-OF-SHARES-REDEEMED> 545,111,791
<SHARES-REINVESTED> 2,238,344
<NET-CHANGE-IN-ASSETS> 63,288,440
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 379,291
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 836,256
<AVERAGE-NET-ASSETS> 56,805,868
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> .04
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .79
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
