BT INVESTMENT FUNDS
485BPOS, EX-23, 2000-09-01
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                      CONSENT OF INDEPENDENT ACCOUNTANTS


We hereby consent to the incorporation by reference in this Registration
Statement on Form N-14 of our reports dated November 16, 1999, relating to the
financial statements and financial highlights which appear in the September 30,
1999 Annual Report to Shareholders of the Capital Appreciation Fund and the
September 30, 1999 Annual Report to Shareholders of the BT Investment Equity
Appreciation Fund, which are also incorporated by reference into the
Registration Statement. We also consent to the references to us under the
heading "Experts" in such Registration Statement and under the heading
"Representations and Warranties" in the Agreement and Plan of Reorganization
included in such Registration Statement.



PricewaterhouseCoopers LLP
Baltimore, Maryland

September 1, 2000



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