<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000749748
<NAME> CASH ASSETS TRUST
<SERIES>
<NUMBER> 032
<NAME> PACIFIC CAPITAL US GOV SEC CASH ASSETS TRUST SERVICE SHS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-END> SEP-30-2000
<INVESTMENTS-AT-COST> 529,236,996
<INVESTMENTS-AT-VALUE> 529,236,996
<RECEIVABLES> 0
<ASSETS-OTHER> 17,196
<OTHER-ITEMS-ASSETS> 715
<TOTAL-ASSETS> 529,254,907
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,633,846
<TOTAL-LIABILITIES> 2,633,846
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 526,631,086
<SHARES-COMMON-STOCK> 382,298,660
<SHARES-COMMON-PRIOR> 293,298,683
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (10,025)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 382,305,851
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14,876,192
<OTHER-INCOME> 0
<EXPENSES-NET> 1,508,445
<NET-INVESTMENT-INCOME> 13,368,147
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 13,368,147
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9,101,915
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 581,780,497
<NUMBER-OF-SHARES-REDEEMED> 501,368,689
<SHARES-REINVESTED> 8,588,164
<NET-CHANGE-IN-ASSETS> 67,626,949
<ACCUMULATED-NII-PRIOR> 26,907
<ACCUMULATED-GAINS-PRIOR> (10,025)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 758,463
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,508,445
<AVERAGE-NET-ASSETS> 322,350,577
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> .72
</TABLE>
