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<PAGE> PAGE 11
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 20
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074 J000500 0
074 K000500 0
074 L000500 97
074 M000500 3
074 N000500 76551
074 O000500 0
<PAGE> PAGE 21
074 P000500 53
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 46
074 S000500 0
074 T000500 76452
074 U010500 14621
074 U020500 0
074 V010500 5.23
074 V020500 0.00
074 W000500 0.0000
074 X000500 427
074 Y000500 0
075 A000500 0
075 B000500 75369
076 000500 0.00
024 000600 N
028 A010600 1302
028 A020600 42
028 A030600 0
028 A040600 550
028 B010600 215
028 B020600 -76
028 B030600 0
028 B040600 635
028 C010600 84
028 C020600 48
028 C030600 0
028 C040600 524
028 D010600 50
028 D020600 48
028 D030600 0
028 D040600 693
028 E010600 76
028 E020600 43
028 E030600 0
028 E040600 1542
028 F010600 108
028 F020600 86
028 F030600 0
028 F040600 2229
028 G010600 1835
028 G020600 191
028 G030600 0
028 G040600 6173
028 H000600 0
037 000600 N
038 000600 0
039 000600 Y
<PAGE> PAGE 22
040 000600 N
041 000600 N
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.000
048 A010600 17000
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
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 17000
048 K020600 0.500
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 Y
053 B000600 Y
053 C000600 N
055 A000600 Y
055 B000600 N
056 000600 Y
057 000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 2500
062 A000600 Y
062 B000600 0.0
062 C000600 0.0
062 D000600 0.0
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
<PAGE> PAGE 23
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 1.6
062 M000600 0.0
062 N000600 0.0
062 O000600 98.4
062 P000600 0.0
062 Q000600 0.0
062 R000600 0.0
063 A000600 0
063 B000600 6.8
064 A000600 Y
064 B000600 N
070 A010600 Y
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
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 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 N
070 O020600 N
070 P010600 N
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
<PAGE> PAGE 24
071 A000600 18333
071 B000600 20828
071 C000600 22047
071 D000600 83
072 A000600 12
072 B000600 1221
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 118
072 G000600 0
072 H000600 0
072 I000600 35
072 J000600 5
072 K000600 0
072 L000600 6
072 M000600 16
072 N000600 13
072 O000600 0
072 P000600 0
072 Q000600 23
072 R000600 10
072 S000600 6
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 21
072 X000600 253
072 Y000600 52
072 Z000600 1020
072AA000600 0
072BB000600 50
072CC010600 0
072CC020600 1065
072DD010600 1019
072DD020600 0
072EE000600 0
073 A010600 0.4447
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 51
074 B000600 0
074 C000600 0
074 D000600 19880
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
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<PAGE> PAGE 25
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074 M000600 12
074 N000600 20289
074 O000600 0
074 P000600 4
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
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074 S000600 0
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074 U010600 2010
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SIGNATURE JOSEPH REARDON
TITLE VICE PRESIDENT
To the Shareholders and Board of Trustees of
the WPG Core Bond Fund:
In planning and performing our audit of the financial statements of the WPG Core
Bond Fund (the "Fund") for the year ended December 31, 1999, we considered its
internal control, including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose of expressing our
opinion on the financial statements and to comply with the requirements of Form
N-SAR, not to provide assurance on the internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1999.
This report is intended solely for the information and use of management, the
Board of Trustees of the Fund, and the Securities and Exchange Commission.
January 20, 2000
To the Shareholders and Board of Trustees of
the WPG Government Money Market Fund:
In planning and performing our audit of the financial statements of the WPG
Government Money Market Fund (the "Fund") for the year ended December 31, 1998,
we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply with
the requirements of Form N-SAR, not to provide assurance on the internal
control. The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of controls.
Generally, controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes that are
fairly presented in conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against unauthorized
acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1998.
This report is intended solely for the information and use of management, the
Board of Trustees of the Fund, and the Securities and Exchange Commission.
January 19, 1999
To the Shareholders and Board of Trustees of
the WPG Tax Free Money Market Fund:
In planning and performing our audit of the financial statements of the WPG Tax
Free Money Market Fund (the "Fund") for the year ended December 31, 1998, we
considered its internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal control.
The management of the Fund is responsible for establishing and maintaining
internal control.
In fulfilling this responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of controls.
Generally, controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes that are
fairly presented in conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against unauthorized
acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1998.
This report is intended solely for the information and use of management, the
Board of Trustees of the Fund, and the Securities and Exchange Commission.
January 19, 1999
To the Shareholders and Board of Trustees of
the WPG Quantitative Equity Fund:
In planning and performing our audit of the financial statements of the WPG
Quantitative Equity Fund (the "Fund") for the year ended December 31, 1998, we
considered its internal control, including control activities for safeguarding
securities, in order to determine our auditing procedures for the purpose of
expressing our opinion on the financial statements and to comply with the
requirements of Form N-SAR, not to provide assurance on the internal control.
The management of the Fund is responsible for establishing and maintaining
internal control. In fulfilling this responsibility, estimates and judgments by
management are required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit pertain to the
entity's objective of preparing financial statements for external purposes that
are fairly presented in conformity with generally accepted accounting
principles. Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or fraud may occur
and not be detected. Also, projection of any evaluation of internal control to
future periods is subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1998.
This report is intended solely for the information and use of management, the
Board of Trustees of the Fund, and the Securities and Exchange Commission.
January 19, 1999
To the Shareholders and Board of Trustees of
the WPG Intermediate Municipal Bond Fund:
In planning and performing our audit of the financial statements of the WPG
Intermediate Municipal Bond Fund (the "Fund") for the year ended December 31,
1998, we considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing procedures for the
purpose of expressing our opinion on the financial statements and to comply with
the requirements of Form N-SAR, not to provide assurance on the internal
control. The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility, estimates and
judgments by management are required to assess the expected benefits and related
costs of controls.
Generally, controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes that are
fairly presented in conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against unauthorized
acquisition, use or disposition. Because of inherent limitations in internal
control, error or fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to the risk that it
may become inadequate because of changes in conditions or that the effectiveness
of the design and operation may deteriorate.
Our consideration of the internal control would not necessarily disclose all
matters in internal control that might be material weaknesses under standards
established by the American Institute of Certified Public Accountants. A
material weakness is a condition in which the design or operation of one or more
of the internal control components does not reduce to a relatively low level the
risk that misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements being audited may occur and not
be detected within a timely period by employees in the normal course of
performing their assigned functions. However, we noted no matters involving the
internal control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as defined above as of
December 31, 1998.
This report is intended solely for the information and use of management, the
Board of Trustees of the Fund, and the Securities and Exchange Commission.
January 19, 1999
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<PERIOD-TYPE> YEAR
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<PERIOD-START> JAN-01-1998
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<ASSETS-OTHER> 5
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<TOTAL-LIABILITIES> 12696
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 131288
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<INTEREST-INCOME> 4502
<OTHER-INCOME> 14
<EXPENSES-NET> 899
<NET-INVESTMENT-INCOME> 3617
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1109476
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<SHARES-REINVESTED> 3457
<NET-CHANGE-IN-ASSETS> 1185
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (19)
<GROSS-ADVISORY-FEES> 602
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 910
<AVERAGE-NET-ASSETS> 120323
<PER-SHARE-NAV-BEGIN> 1
<PER-SHARE-NII> .03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> (.03)
<PER-SHARE-DISTRIBUTIONS> 0
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<PER-SHARE-NAV-END> 1
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</TABLE>
<TABLE> <S> <C>
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<NAME> WEISS, PECK & GREER FUNDS TRUST
<SERIES>
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<NAME> WPG INTERMEDIATE MUNICIPAL BOND FUND
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<PERIOD-START> JAN-01-1998
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<PAID-IN-CAPITAL-COMMON> 24409
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<INTEREST-INCOME> 1279
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<EXPENSES-NET> 214
<NET-INVESTMENT-INCOME> 1067
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<DISTRIBUTIONS-OF-GAINS> (67)
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<EXPENSES-NET> (867)
<NET-INVESTMENT-INCOME> 397
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<NET-CHANGE-FROM-OPS> 19574
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<DISTRIBUTIONS-OF-INCOME> (601)
<DISTRIBUTIONS-OF-GAINS> (15035)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5515
<NUMBER-OF-SHARES-REDEEMED> (46925)
<SHARES-REINVESTED> 15301
<NET-CHANGE-IN-ASSETS> (22171)
<ACCUMULATED-NII-PRIOR> 382
<ACCUMULATED-GAINS-PRIOR> 1963
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<TABLE> <S> <C>
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<SERIES>
<NUMBER> 7
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<S> <C>
<PERIOD-TYPE> YEAR
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<PERIOD-START> JAN-01-1998
<PERIOD-END> DEC-31-1998
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<INVESTMENTS-AT-VALUE> 0
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