BT INVESTMENT FUNDS
485BPOS, 1999-01-22
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                                   As filed with the Commission January 22, 1999
                                                      1933 Act File No. 33-07404
                                                      1940 Act File No. 811-4760

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    Form N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933                      X
                                                                          ------

      Pre-Effective Amendment No. ...................................
                                                                          ------

      Post-Effective Amendment No. 55 ...............................        X
                                                                          ------

                                                      and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940              X
                                                                          ------

      Amendment No. 55 ..............................................        X
                                                                          ------

                               BT INVESTMENT FUNDS
               (Exact Name of Registrant as Specified in Charter)

                   One South Street, Baltimore, Maryland 21202
                    (Address of Principal Executive Offices)

                                 (410) 895-5000
                         (Registrant's Telephone Number)

Daniel O. Hirsch                    Copies to:       Burton M. Leibert, Esq.
BT Alex. Brown                                       Willkie Farr & Gallagher
One South Street                                     787 Seventh Avenue
Baltimore, Maryland 21202                            New York, New York 10019
(Name and Address of Agent for Service)


It is proposed that this filing will become effective (check appropriate box):

[ ] immediately upon filing pursuant to paragraph (b)

[X] on January 31, 1999 pursuant to paragraph (b)

[ ] 60 days after filing pursuant to paragraph (a)(1)

[ ] on ______ pursuant to paragraph (a)(1)

[ ] 75 days after filing pursuant to paragraph (a)(2)

[ ] on (date) pursuant to paragraph (a)(2) of rule 485.

If appropriate, check the following box:

[X] this post-effective amendment designates a new effective date for a
previously filed post-effective amendment.


<PAGE>



         Parts A, B and C to this Amendment to the Registration Statement are
incorporated herein by reference to Post-Effective Amendment No. 55 under the
Securities Act of 1933, as amended, and Amendment No. 55 under the Investment
Company Act of 1940, as filed with the Commission on November 25, 1998.


<PAGE>



                                   SIGNATURES

         Pursuant to the requirements of the Securities Act of 1933, as amended,
and the Investment Company Act of 1940, the Registrant, BT INVESTMENT FUNDS,
certifies that it meets all of the requirements for effectiveness of this
Amendment to its Registration Statement pursuant to Rule 485(b) under the
Securities Act of 1933, as amended, and has duly caused this Amendment to its
Registration Statement to be signed on its behalf by the undersigned, thereto
duly authorized, in the City of Baltimore and the State of Maryland on the 22nd
day of January, 1999.

                               BT INVESTMENT FUNDS

                                       By:  /s/ Daniel O. Hirsch
                                            Daniel O. Hirsch, Secretary
                                            January 22, 1999

         Pursuant to the requirements of the Securities Act of 1933, this
Amendment to its Registration Statement has been signed below by the following
person in the capacity and on the date indicated:


<TABLE>
<CAPTION>
NAME                                        TITLE                               DATE
- ----                                        -----                               ----
<S>                                         <C>                        <C>
By:      /s/ Daniel O. Hirsch               Attorney in Fact           January 22, 1999
         Daniel O. Hirsch                   For the Persons
         Secretary                          Listed Below


/s/ JOHN Y. KEFFER*                         President
John Y. Keffer                              Chief Executive Officer

/s/ JOSEPH A. FINELLI*                      Treasurer (Principal
Joseph A. Finelli                           Financial and Accounting
                                            Officer)

/s/ S. LELAND DILL*                         Trustee
S. Leland Dill

/s/ KELVIN J. LANCASTER*                    Trustee
Kelvin J. Lancaster

/s/ PHILIP SAUNDERS, JR.*                   Trustee
Philip Saunders, Jr.

*        By Power of Attorney
</TABLE>


<PAGE>


         This Post Effective Amendment No. 55 to the Registration Statement of
BT Investment Funds has been signed below by the following persons in the
capacities indicated with respect to Pacific Basin Equity Portfolio, Latin
American Equity Portfolio, Global High Yield Securities Portfolio, Small Cap
Portfolio, International Small Company Equity Portfolio and Global Emerging
Market Equity Portfolio, each a series of BT INVESTMENT PORTFOLIOS.

<TABLE>
<CAPTION>
NAME                                        TITLE                      DATE
- ----                                        -----                      ----
<S>                                         <C>                        <C>
By:      /s/ Daniel O. Hirsch               Attorney in Fact          January 22, 1999
         Daniel O. Hirsch                   For the Persons
         SECRETARY                          Listed Below

/s/ John Y. Keffer*                         President and
John Y Keffer                               Chief Executive Officer

/s/ Joseph A. Finelli                       Treasurer (Principal
Joseph A. Finelli                           Financial and Accounting Officer)

/s/ CHARLES P. BIGGAR*                      Trustee
Charles P. Biggar

/s/ S. LELAND DILL*                         Trustee
S. Leland Dill

/s/ PHILIP SAUNDERS, JR.*                   Trustee
Philip Saunders, Jr.
</TABLE>



*By Power of Attorney



<PAGE>


         This Post Effective Amendment No. 55 to the Registration Statement of
BT Investment Funds has been signed below by the following persons in the
capacities indicated with respect to INTERMEDIATE TAX FREE PORTFOLIO.

<TABLE>
<CAPTION>
NAME                                        TITLE                      DATE
- ----                                        -----                      ----
<S>                                         <C>                        <C>
By:      /s/ Daniel O. Hirsch               Attorney in Fact          January 22, 1999
         Daniel O. Hirsch                   For the Persons
         SECRETARY                          Listed Below

/s/ John Y. Keffer*                         President and
John Y Keffer                               Chief Executive Officer

/s/ Joseph A. Finelli                       Treasurer (Principal
Joseph A. Finelli                           Financial and Accounting Officer)

/s/ CHARLES P. BIGGAR*                      Trustee
Charles P. Biggar

/s/ S. LELAND DILL*                         Trustee
S. Leland Dill

/s/ PHILIP SAUNDERS, JR.*                   Trustee
Philip Saunders, Jr.
</TABLE>



*By Power of Attorney



<PAGE>


         This Post Effective Amendment No. 55 to the Registration Statement of
BT Investment Funds has been signed below by the following persons in the
capacities indicated with respect to INTERNATIONAL EQUITY PORTFOLIO.

<TABLE>
<CAPTION>
NAME                                        TITLE                      DATE
- ----                                        -----                      ----
<S>                                         <C>                        <C>
By:      /s/ Daniel O. Hirsch               Attorney in Fact          January 22, 1999
         Daniel O. Hirsch                   For the Persons
         SECRETARY                          Listed Below

/s/ John Y. Keffer*                         President and
John Y Keffer                               Chief Executive Officer

/s/ Joseph A. Finelli                       Treasurer (Principal
Joseph A. Finelli                           Financial and Accounting Officer)

/s/ CHARLES P. BIGGAR*                      Trustee
Charles P. Biggar

/s/ S. LELAND DILL*                         Trustee
S. Leland Dill

/s/ PHILIP SAUNDERS, JR.*                   Trustee
Philip Saunders, Jr.
</TABLE>



*By Power of Attorney




<PAGE>


         This Post Effective Amendment No. 55 to the Registration Statement of
BT Investment Funds has been signed below by the following persons in the
capacities indicated with respect to CAPITAL APPRECIATION PORTFOLIO.

<TABLE>
<CAPTION>
NAME                                        TITLE                      DATE
- ----                                        -----                      ----
<S>                                         <C>                        <C>
By:      /s/ Daniel O. Hirsch               Attorney in Fact          January 22, 1999
         Daniel O. Hirsch                   For the Persons
         SECRETARY                          Listed Below

/s/ John Y. Keffer*                         President and
John Y Keffer                               Chief Executive Officer

/s/ Joseph A. Finelli                       Treasurer (Principal
Joseph A. Finelli                           Financial and Accounting Officer)

/s/ CHARLES P. BIGGAR*                      Trustee
Charles P. Biggar

/s/ S. LELAND DILL*                         Trustee
S. Leland Dill

/s/ PHILIP SAUNDERS, JR.*                   Trustee
Philip Saunders, Jr.
</TABLE>



*By Power of Attorney



<PAGE>


                                Power of Attorney

         The undersigned Trustees and officers, as indicated respectively below,
of BT Investment Funds, BT Institutional Funds, BT Pyramid Mutual Funds, and BT
Advisor Funds (each, a "Trust") and, Cash Management Portfolio, Treasury Money
Portfolio, Tax Free Money Portfolio, NY Tax Free Money Portfolio, International
Equity Portfolio, Utility Portfolio, Short/Intermediate U.S. Government
Securities Portfolio, Equity 500 Index Portfolio, Asset Management Portfolio,
Capital Appreciation Portfolio, Intermediate Tax Free Portfolio, and BT
Investment Portfolios (each, a "Portfolio Trust") each hereby constitutes and
appoints the Secretary, each Assistant Secretary and each authorized signatory
of each Trust and each Portfolio Trust, each of them with full powers of
substitution, as his true and lawful attorney-in-fact and agent to execute in
his name and on his behalf in any and all capacities the Registration Statements
on Form N-1A, and any and all amendments thereto, and all other documents, filed
by a Trust or a Portfolio Trust with the Securities and Exchange Commission (the
"SEC") under the Investment Company Act of 1940, as amended, and (as applicable)
the Securities Act of 1933, as amended, and any and all instruments which such
attorneys and agents, or any of them, deem necessary or advisable to enable the
Trust or Portfolio Trust to comply with such Acts, the rules, regulations and
requirements of the SEC, and the securities or Blue Sky laws of any state or
other jurisdiction and to file the same, with all exhibits thereto and other
documents in connection therewith, with the SEC and such other jurisdictions,
and the undersigned each hereby ratifies and confirms as his own act and deed
any and all acts that such attorneys and agents, or any of them, shall do or
cause to be done by virtue hereof. Any one of such attorneys and agents has, and
may exercise, all of the powers hereby conferred. The undersigned each hereby
revokes any Powers of Attorney previously granted with respect to any Trust or
Portfolio Trust concerning the filings and actions described herein.

         IN WITNESS WHEREOF, each of the undersigned has hereunto set his hand
as of the 31st day of December, 1998.

SIGNATURES                   TITLE
- ----------                   -----

                             President and Chief Executive Officer of each Trust
/s/ JOHN Y. KEFFER           and Portfolio Trust
John Y. Keffer

/s/ JOSEPH A. FINELLI        Treasurer (Principal Financial and Accounting
Joseph A. Finelli            Officer) of each Trust and Portfolio Trust



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