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SIGNATURE JOHN R. ELDER
TITLE TREASURER
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
BT Investment Tax Free Money Fund Semiannual Report dated June 30, 1996,
and is qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000797657
<NAME> BT INVESTMENT FUNDS
<SERIES>
<NUMBER> 1
<NAME> TAX FREE MONEY FUND
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
BT Investment NY Tax Free Money Fund Semiannual Report dated June 30, 1996,
and is qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000797657
<NAME> BT INVESTMENT FUNDS
<SERIES>
<NUMBER> 2
<NAME> NY TAX FREE MONEY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the BT
Investment Cash Management Fund Semiannual Report dated June 30, 1996, and
is qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000797657
<NAME> BT INVESTMENT FUNDS
<SERIES>
<NUMBER> 3
<NAME> CASH MANAGEMENT FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
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<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 142267636
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the
BT Investment Treasury Money Fund Semiannual Report dated June 30, 1996,
and is qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000797657
<NAME> BT INVESTMENT FUNDS
<SERIES>
<NUMBER> 4
<NAME> TREASURY MONEY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
<INVESTMENTS-AT-COST> 526333074
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<ACCUMULATED-NET-GAINS> 61782
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<NUMBER-OF-SHARES-SOLD> 4047616137
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<SHARES-REINVESTED> 12271875
<NET-CHANGE-IN-ASSETS> (89278963)
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<ACCUMULATED-GAINS-PRIOR> 10523
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<GROSS-EXPENSE> 1755686
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<PER-SHARE-NAV-END> 1.00
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<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
BT Investment Utility Fund Semiannual Report dated June 30, 1996, and is
qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000797657
<NAME> BT INVESTMENT FUNDS
<SERIES>
<NUMBER> 10
<NAME> UTILITY FUND
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1996
<PERIOD-START> JAN-01-1996
<PERIOD-END> JUN-30-1996
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</TABLE>
