<PAGE> 1
As filed with the Securities and Exchange Commission
on March 29, 1996
Registration Nos. 33-12608 and 811-5059
-----------------
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. 17 /X/
REGISTRATION STATEMENT UNDER THE INVESTMENT /X/
COMPANY ACT OF 1940
Amendment No. 20 /X/
THE HIGHMARK GROUP
(Exact Name of Registrant as Specified in Charter)
3435 Stelzer Road, Columbus, Ohio 43219
---------------------------------------
(Address of principal executive offices)
(800) 433-6884
--------------
(Registrant's telephone number, including area code)
Name and address of agent for service:
Martin E. Lybecker, Esq.
Ropes & Gray
One Franklin Square
1301 K Street, N.W., Suite 800 East
Washington, D.C. 20005
It is proposed that this filing will become effective (check appropriate box)
/X/ immediately upon filing pursuant to paragraph (b), or
/ / on [date] pursuant to paragraph (b)
/ / 60 days after filing pursuant to paragraph (a)(i)
/ / on [date] pursuant to paragraph (a)(i)
/ / 75 days after filing pursuant to paragraph (a)(ii)
/ / on [date] pursuant to paragraph (a)(ii) of Rule 485
If appropriate, check the following box:
/ / this post-effective amendment designates a new effective date for
post-effective amendment No. filed on .
---- ---------------------
Pursuant to Rule 24f-2(a) under the Investment Company Act of 1940, the
Registrant has registered an indefinite number or amount of its shares of
beneficial interest under the Securities Act of 1933. The Registrant filed a
Rule 24f-2 Notice with respect to the Registrant's fiscal year ended July 31,
1995 on September 28, 1995.
<PAGE> 2
Part A
The HighMark Growth Fund
The HighMark Income and Growth Fund
The HighMark Income Equity Fund
The HighMark Balanced Fund
The HighMark Bond Fund
The HighMark Government Bond Fund
The HighMark Diversified Obligations Fund
The HighMark U.S. Government Obligations Fund
The HighMark 100% U.S. Treasury Obligations Fund
The HighMark California Tax-Free Fund
The HighMark Tax-Free Fund
The HighMark Intermediate California Municipal Bond Fund
The HighMark Intermediate Municipal Bond Fund
The information required by Items 1 through 9 for the above-referenced
investment portfolios of The HighMark Group (the "Registrant") is hereby
incorporated by reference to Part A of Post-Effective Amendment No. 16 to the
Registrant's Registration Statement on Form N-1A, filed with the Securities and
Exchange Commission on December 1, 1995.
<PAGE> 3
Part B
The HighMark Growth Fund
The HighMark Income and Growth Fund
The HighMark Income Equity Fund
The HighMark Balanced Fund
The HighMark Bond Fund
The HighMark Government Bond Fund
The HighMark Diversified Obligations Fund
The HighMark U.S. Government Obligations Fund
The HighMark 100% U.S. Treasury Obligations Fund
The HighMark California Tax-Free Fund
The HighMark Tax-Free Fund
The HighMark Intermediate California Municipal Bond Fund
The HighMark Intermediate Municipal Bond Fund
The information required by Items 10 through 23 for the
above-referenced investment portfolios of The HighMark Group (the "Registrant")
is hereby incorporated by reference to Part B of Post-Effective Amendment No. 16
to the Registrant's Registration Statement on Form N-1A, filed with the
Securities and Exchange Commission on December 1, 1995.
-2-
<PAGE> 4
PART C. OTHER INFORMATION
ITEM 24. FINANCIAL STATEMENTS AND EXHIBITS
(a) Financial Statements:
Included in Part A:
-- Certain Financial Information.
Included in Part B:
-- Report of Independent Certified Public Accountants
for The HighMark Group at July 31, 1995.
-- Statements of Assets and Liabilities for The
HighMark Group at July 31, 1995.
-- Statements of Operations for The HighMark
Group for the year ended July 31, 1995.
-- Statements of Changes in Net Assets for The
HighMark Group for the year ended July 31,
1995.
-- Schedules of Portfolio Investments for The
HighMark Group at July 31, 1995.
-- Notes to Financial Statements for The
HighMark Group dated July 31, 1995.
-- Financial Highlights for The HighMark Group
for the year ended July 31, 1995. All
required financial statements are included in
Part B hereof. All other financial statements
and schedules are inapplicable.
(b) Exhibits:
(1) (a) Declaration of Trust, dated March 10, 1987,
is incorporated by reference to Exhibit
(1)(a) of Pre-Effective Amendment No. 1
(filed May 15, 1987) to Registrant's
Registration Statement on Form N-1A.
<PAGE> 5
(b) Amendment to Declaration of Trust, dated
April 13, 1987, is incorporated by reference
to Exhibit (1)(b) of Pre-Effective Amendment
No. 1 (filed May 15, 1987) to Registrant's
Registration Statement on Form N-1A.
(c) Amendment to Declaration of Trust, dated July
13, 1987, is incorporated by reference to
Exhibit (1)(c) of Pre-Effective Amendment
No. 2 (filed July 24, 1987) to Registrant's
Registration Statement on Form N-1A.
(d) Amendment to Declaration of Trust, dated July
30, 1987, is incorporated by reference to
Exhibit (1)(d) of Pre-Effective Amendment
No. 3 (filed July 31, 1987) to Registrant's
Registration Statement on Form N-1A.
(2) (a) Amended and Restated Code of Regulations,
dated June 5, 1991, is incorporated by
reference to Exhibit 2 of Post-Effective
Amendment No. 7 (filed September 30, 1991) to
Registrant's Registration Statement on Form
N-1A.
(b) Amendment to Amended and Restated Code of
Regulations, dated December 4, 1991, is
incorporated by reference to Exhibit 2(b) of
Post-Effective Amendment No. 8 (filed
September 30, 1992) to Registrant's
Registration Statement on Form N-1A.
(3) None.
(4) None.
(5) (a) Investment Advisory Agreement between
Registrant and The Bank of California, N.A.,
dated as of May 8, 1992 (the "Investment
Advisory Agreement"), as amended as of
September 15, 1992, is incorporated by
reference to Exhibit 5 of Post-Effective
Amendment No. 8 (filed September 30, 1992) to
Registrant's Registration Statement on Form
N-1A.
(b) Form of amended and restated Schedule A to
the Investment Advisory Agreement is
incorporated by reference to Exhibit 5(b) of
Post-Effective Amendment No. 14 (filed June
17, 1994) to Registrant's Registration
Statement on Form N-1A.
2
<PAGE> 6
(6) Distribution Agreement, dated August 1, 1995,
between Registrant and The Winsbury Company
(the "Distribution Agreement") is
incorporated by reference to Exhibit (6) of
Post-Effective Amendment No. 16 (filed
December 1, 1995) to Registrant's
Registration Statement on Form N-1A.
(7) None.
(8) (a) Custodian Agreement between Registrant and
The Bank of California, N.A., dated as of
December 23, 1991, as amended as of September
15, 1992 (the "Custodian Agreement"), is
incorporated by reference to Exhibit 8 of
Post-Effective Amendment No. 8 (filed
September 30, 1992) to Registrant's
Registration Statement on Form N-1A.
(b) Form of amended and restated Schedule A to
the Custodian Agreement is incorporated by
reference to Exhibit 8(b) of Post-Effective
Amendment No. 14 (filed June 17, 1994) to
Registrant's Registration Statement on Form
N-1A.
(9) (a) Management and Administration Agreement
between Registrant and The Winsbury Company,
dated as of August 1, 1995 (the "Management
and Administration Agreement") is
incorporated by reference to Exhibit (9)(a)
of Post-Effective Amendment No. 16 (filed
December 1, 1995) to Registrant's
Registration Statement on Form N-1A.
(b) Transfer Agency and Shareholder Services
Agreement between Registrant and The Winsbury
Service Corporation, dated August 1, 1995
(the "Transfer Agency Agreement") is
incorporated by reference to Exhibit (9)(b)
of Post-Effective Amendment No. 16 (filed
December 1, 1995) to Registrant's
Registration Statement on Form N-1A.
(c) Sub-Transfer Agency Agreement between The
Winsbury Service Corporation and The Bank of
California, N.A., dated February 22, 1989, as
amended as of September 15, 1992 (the
"Sub-Transfer Agency Agreement"), is
incorporated by reference to Exhibit 9(d) of
Post-Effective Amendment No. 8 (filed
September 30, 1992) to Registrant's
Registration Statement on Form N-1A.
3
<PAGE> 7
(d) Fund Accounting Agreement between Registrant
and The Winsbury Service Corporation, dated
as of August 1, 1995 (the "Fund Accounting
Agreement") is incorporated by reference to
Exhibit (9)(d) of Post-Effective Amendment
No. 16 (filed December 1, 1995) to
Registrant's Registration Statement on Form
N-1A.
(e) Form of amended and restated Schedules A and
D to the Sub-Transfer Agency Agreement is
incorporated by reference to Exhibit 9(g) of
Post-Effective Amendment No. 14 (filed June
17, 1994) to Registrant's Registration
Statement on Form N-1A.
(f) Form of Shareholder Services Agreement
("Shareholder Services Agreement") between
Registrant and The Winsbury Company dated
December 1, 1993 is incorporated by reference
to Exhibit 9(m) of Post-Effective Amendment
No. 12 (filed October 1, 1993) to
Registrant's Registration Statement on Form
N-1A.
(g) Form of amended and restated Appendix A to
the Shareholder Services Agreement is
incorporated by reference to Exhibit 9(j) of
Post-Effective Amendment No. 14 (filed June
17, 1994) to Registrant's Registration
Statement on Form N-1A.
(h) Shareholder Services Plan is incorporated by
reference to Exhibit 9(n) of Post- Effective
Amendment No. 12 (filed October 1, 1993) to
the Registrant's Registration Statement on
Form N-1A.
(10) Inapplicable.
(11)(a) Consent of Coopers & Lybrand L.L.P., filed
herewith.
(11)(b) Consent of Ropes & Gray, filed herewith.
(12) None.
(13) None.
(14) None.
4
<PAGE> 8
(15) (a) Registrant's Distribution and Shareholder
Services Plan relating to the Money Market
Funds is incorporated by reference to Exhibit
15(a) of Post-Effective Amendment No. 6
(filed September 27, 1990) to Registrant's
Registration Statement on Form N-1A.
(b) Form of Servicing Agreement With Respect to
Distribution Assistance and Shareholder
Services used in connection with Registrant's
Distribution and Shareholder Services Plan
relating to the Money Market Funds is
incorporated by reference to Exhibit 15(b) of
Post-Effective Amendment No. 6 (filed
September 27, 1990) to Registrant's
Registration Statement on Form N-1A.
(c) Form of Servicing Agreement With Respect to
Shareholder Services used in connection with
Registrant's Distribution and Shareholder
Services Plan relating to the Money Market
Funds, is incorporated by reference to
Exhibit 15(c) of Post-Effective Amendment No.
8 (filed September 30, 1992) to Registrant's
Registration Statement on Form N-1A.
(d) Registrant's Distribution and Shareholder
Services Plan relating to the Income Funds,
the Equity Funds and the Municipal Funds is
incorporated by reference to Exhibit 15(d) of
Post-Effective Amendment No. 13 (filed April
11, 1994) to the Registrant's Registration
Statement on Form N-1A.
(e) Form of amended and restated Schedule A to
the Distribution and Shareholder Services
Plan relating to the Income Funds, the Equity
Funds and the Municipal Funds is incorporated
by reference to Exhibit 15(c) of
Post-Effective Amendment No. 14 (filed June
17, 1994) to Registrant's Registration
Statement on Form N-1A.
(16) (a) Performance Calculation Schedules concerning:
the seven-day yield and effective yield of
the Class A and Class B Shares of the U.S.
Government Obligations Fund, the Diversified
Obligations Fund, the 100% U.S. Treasury
Obligations Fund, the Tax-Free Fund, and the
California Tax-Free Fund; the seven-day
tax-equivalent yield and tax-equivalent
effective yield of the Class A and Class B
Shares of the Tax-Free Fund and the
California Tax-Free Fund;
5
<PAGE> 9
and the average annual total return of the
Income Equity Fund and Bond Fund for the
one-year, five-year, and inception-to-date
periods are incorporated by reference to
Exhibit 16 of Post-Effective Amendment No. 6
(filed September 27, 1990) to Registrant's
Registration Statement on Form N-1A.
(b) Yield Calculation Schedules concerning the
seven-day tax-equivalent yield and
tax-equivalent effective yield (for
California and Oregon income tax purposes) of
the Class A and Class B Shares of the 100%
U.S. Treasury Obligations Fund are
incorporated by reference to Exhibit 16(b) of
Post-Effective Amendment No. 7 (filed
September 30, 1991) to Registrant's
Registration Statement on Form N-1A.
(c) Performance Calculation Schedules concerning:
(i) the seven-day and thirty-day yield and
effective yield of the Class A and Class B
Shares of the U.S. Government Obligations
Fund, the Diversified Obligations Fund, the
100% U.S. Treasury Obligations Fund, the Tax-
Free Fund and the California Tax-Free Fund;
(ii) the seven-day and thirty-day
tax-equivalent yield (using a Federal income
tax rate of 31%) and tax-equivalent
effective yield (using a Federal income tax
rate of 31%) of the Class A and Class B
Shares of the Tax-Free Fund and the
California Tax-Free Fund; (iii) the seven-day
and thirty-day tax-equivalent yield (using a
Federal income tax rate of 31% and a
California income tax rate of 9.3%) and tax-
equivalent effective yield (using a Federal
income tax rate of 31% and a California
income tax rate of 9.3%) of the Class A and
Class B Shares of the California Tax-Free
Fund; (iv) the average annual total return of
the Class A and Class B Shares of the U.S.
Government Obligations Fund, the Diversified
Obligations Fund, the 100% U.S. Treasury
Obligations Fund, the Tax-Free Fund and the
California Tax-Free Fund for the one-year,
three-year and inception-to-date periods and
the aggregate total return of the Class A and
Class B Shares of each such Fund for the
year-to-date, quarterly and monthly periods;
(v) the thirty-day yield of the Bond Fund;
(vi) the average annual total return of the
Bond Fund and the Income Equity Fund for the
one-year, three-year, five-year and
inception-to-date periods and the aggregate
total return of each such Fund for the
year-to-date, quarterly and
6
<PAGE> 10
monthly periods; and (vii) the distribution
rate (excluding and including capital gains)
over a twelve-month period for the Bond Fund
and Income Equity Fund, are incorporated by
reference to Exhibit 16(c) of Post-Effective
Amendment No. 8 (filed September 30, 1992) to
Registrant's Registration Statement on Form
N-1A.
(17) Financial Data Schedules.
(18) Multiple Class Plan for The HighMark Group
adopted by the Board of Trustees on March 20,
1996 is filed herewith.
ITEM 25. PERSONS CONTROLLED BY OR UNDER COMMON CONTROL WITH REGISTRANT
As of the effective date of this Registration Statement, there are no
persons controlled by or under common control with the U.S. Government
Obligations Fund, the Diversified Obligations Fund, the 100% U.S.
Treasury Obligations Fund, the Income Equity Fund, the Bond Fund, the
Balanced Fund, the Growth Fund, the Government Bond Fund, the Income
and Growth Fund, the Tax-Free Fund and the California Tax-Free Fund of
the Registrant.
ITEM 26. NUMBER OF HOLDERS OF SECURITIES
As of March 3, 1996, the number of record holders of the following
series of Shares were:
<TABLE>
<CAPTION>
NUMBER OF
TITLE OF SERIES RECORD HOLDERS
- --------------- --------------
<S> <C>
U.S. Government Obligations Fund
Investor Shares 208
Fiduciary Shares 11
Diversified Obligations Fund
Investor Shares 1,005
Fiduciary Shares 116
100% U.S. Treasury Obligations Fund
Investor Shares 447
Fiduciary Shares 28
Tax-Free Fund
Investor Shares 73
Fiduciary Shares 10
</TABLE>
7
<PAGE> 11
<TABLE>
<S> <C>
California Tax-Free Fund
Investor Shares 303
Fiduciary Shares 24
Income Equity Fund
Investor Shares 122
Fiduciary Shares 526
Bond Fund
Investor Shares 21
Fiduciary Shares 123
Income and Growth Fund
Investor Shares 17
Fiduciary Shares 36
Growth Fund
Investor Shares 46
Fiduciary Shares 104
Government Bond Fund
Investor Shares 11
Fiduciary Shares 14
Balanced Fund
Investor Shares 13
Fiduciary Shares 28
California Municipal Fund
Investor Shares 0
Fiduciary Shares 0
Municipal Fund
Investor Shares 0
Fiduciary Shares 0
</TABLE>
ITEM 27. INDEMNIFICATION
Article IX, Section 9.2 of the Registrant's Declaration of Trust, filed
or incorporated by reference as Exhibit (1) hereto, provides for the
indemnification of Registrant's trustees and officers. Indemnification
of the Registrant's principal underwriter, custodian, investment
adviser, manager and administrator, transfer agent, and fund accountant
is provided for, respectively, in Section 1.11 of the Distribution
Agreement, filed or incorporated by reference as Exhibit 6 hereto,
Section 16 of the Custodian Agreement, filed or incorporated by
reference as Exhibit 8 hereto, Section 8 of the Investment Advisory
Agreement, filed or incorporated by reference as Exhibit 5 hereto,
Section 4 of the Management and Administration Agreement, filed or
incorporated by reference as Exhibit 9(a) hereto, Section 11 of the
Transfer Agency and Shareholder Service Agreement, filed or
incorporated by reference as Exhibit 9 (c) hereto, and Section 7 of the
8
<PAGE> 12
Fund Accounting Agreement, filed or incorporated by reference as
Exhibit 9(e) hereto. Registrant has obtained from a major insurance
carrier a trustees and officers' liability policy covering certain
types of errors and omissions. In no event will Registrant indemnify
any of its trustees, officers, employees or agents against any
liability to which such person would otherwise be subject by reason of
his willful misfeasance, bad faith, or gross negligence in the
performance of his duties, or by reason of his reckless disregard of
the duties involved in the conduct of his office or under his agreement
with Registrant. Registrant will comply with Rule 484 under the
Securities Act of 1933 and Release 11330 under the Investment Company
Act of 1940 in connection with any indemnification.
Insofar as indemnification for liability arising under the Securities
Act of 1933 may be permitted to trustees, officers, and controlling
persons of Registrant pursuant to the foregoing provisions or
otherwise, Registrant has been advised that in the opinion of the
Securities and Exchange Commission such indemnification is against
public policy as expressed in the Act and is, therefore, unenforceable.
In the event that a claim for indemnification against such liabilities
(other than the payment by Registrant of expenses incurred or paid by a
trustee, officer, or controlling person of Registrant in the successful
defense of any action, suit, or proceeding) is asserted by such
trustee, officer, or controlling person in connection with the
securities being registered, Registrant will, unless in the opinion of
its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question of whether
such indemnification by it is against public policy as expressed in the
Act and will be governed by the final adjudication of such issue.
ITEM 28. BUSINESS AND OTHER CONNECTIONS OF INVESTMENT ADVISER
MERUS Capital Management, a division of The Bank of California, N.A.
("MERUS"), performs investment advisory services for Registrant. The
Bank of California, N.A. ("The Bank of California") offers a wide range
of commercial and trust management services to its clients in
California, Oregon, and Washington and around the world. The Mitsubishi
Bank, Limited ("Mitsubishi"), a Japanese bank with principal offices in
Tokyo, owns either directly or indirectly through its wholly owned
subsidiary (BanCal Tri-State Corporation) all of the outstanding stock
of The Bank of California.
To the knowledge of Registrant, none of the directors or officers of
The Bank of California, except those set forth below, is or has been at
any time during the past two fiscal years engaged in any other
business, profession, vocation or employment of a substantial nature,
except that certain directors and officers of The Bank of California
also hold positions with BanCal Tri-State Corporation, Mitsubishi
and/or Mitsubishi's other subsidiaries.
9
<PAGE> 13
Listed below are the directors and certain principal executive officers
of The Bank of California, their principal occupations and, for the
prior two fiscal years, any other business, profession, vocation, or
employment of a substantial nature engaged in by such directors and
officers:
THE BANK OF CALIFORNIA, N.A.
<TABLE>
<CAPTION>
POSITION
WITH THE
BANK OF PRINCIPAL TYPE OF
CALIFORNIA NAME OCCUPATION BUSINESS
- ---------- ---- ---------- --------
<S> <C> <C> <C>
Director Stanley F. Farrar, Partner Law Firm
Esquire Sullivan & Cromwell
12th Floor
444 So. Flower St.
Los Angeles, CA
90071
Director and Roy A. Henderson c/o Bank of California Banking
Vice Chairman 400 California Street
Regional Banking San Francisco, CA 94145
Director Yasuyuki Hirai Chief Executive Officer Clothing Manufacturer
MBL North American
Headquarters
Two World Financial Center
225 Liberty St.
New York, NY 10281
Director Kazuo Ibuki c/o Bank of California Banking
400 California Street
San Francisco, CA
94145
Director Raymond E. Miles Professor, Haas School Education
of Business
University of California
350 Barrows Hall
Berkeley, CA
94720
Director J. Fernando Niebla Chairman & CEO Computer Software
Infotec Development, Inc. and Hardware
3611 S. Harbor Blvd.
Suite 260
Santa Ana, CA 92704
Director Minoru Noda c/o Bank of California Banking
and Vice- 400 California Street
Chairman, San Francisco, CA
Credit and 94145
Finance
</TABLE>
10
<PAGE> 14
<TABLE>
<CAPTION>
POSITION
WITH THE
BANK OF PRINCIPAL TYPE OF
CALIFORNIA NAME OCCUPATION BUSINESS
- ---------- ---- ---------- --------
<S> <C> <C> <C>
Chairman of Hiroo Nozawa c/o Bank of California Banking
the Board, 400 California Street
President and San Francisco, CA
Chief Execu- 94145
tive Officer
Director Carl W. Robertson, Managing Director Real Estate and
Esquire Warland Investments Investment
Company Management
Suite 300 Company
1299 Ocean Avenue
Santa Monica, CA
90401
Director Charles R. Scott President and Corporate
Chief Executive Officer Investor
Fuqua Industries
4900 Georgia Pacific Center
Atlanta, GA
30303
Director Paul W. Steere, Partner Law Firm
Esquire Bogle & Gates
Two Union Square
601 Union Street
Seattle, WA
98101-2322
Director Henry T. Swigert Chairman of the Board Equipment
ESCO Corporation Manufacturing
2141 NW 25th Avenue
Portland, OR
97210
Executive Peter R. Butcher c/o Bank of California Banking
Vice President 400 California Street
and Chief San Francisco, CA
Credit Officer 94145
Executive David W. Ehlers c/o Bank of California Banking
Vice President 400 California Street
and Chief San Francisco, CA
Financial Officer 94145
Executive Michael Spilsbury c/o Bank of California Banking
Vice President 400 California Street
San Francisco, CA
94145
</TABLE>
11
<PAGE> 15
<TABLE>
<CAPTION>
POSITION
WITH THE
BANK OF PRINCIPAL TYPE OF
CALIFORNIA NAME OCCUPATION BUSINESS
- ---------- ---- ---------- --------
<S> <C> <C> <C>
Executive William R. Sweet c/o Bank of California Banking
Vice President 400 California Street
San Francisco, CA
94145
Executive Magan C. Patel c/o Bank of California Banking
Vice President 400 California Street
San Francisco, CA
94145
</TABLE>
ITEM 29. PRINCIPAL UNDERWRITER
(a) BISYS Fund Services Limited Partnership ("BISYS Fund
Services") (formerly known as The Winsbury Company Limited
Partnership) acts as distributor and administrator for
Registrant. BISYS Fund Services also distributes the
securities of The Victory Funds, The Coventry Group, The
Parkstone Group of Funds, The Sessions Group, the AmSouth
Mutual Funds, the American Performance Funds, The ARCH Fund,
Inc., the Pacific Capital Funds, the MMA Praxis Mutual Funds,
the MarketWatch Funds, The Riverfront Funds, Inc., the Summit
Investment Trust, the Qualivest Funds and the BB&T Mutual
Funds Group, each of which are management investment
companies.
(b) Partners of The BISYS Fund Services, as of November 1, 1995,
were as follows:
<TABLE>
<CAPTION>
POSITIONS AND POSITIONS AND
NAME AND PRINCIPAL OFFICES WITH THE OFFICES WITH
BUSINESS ADDRESSES WINSBURY COMPANY REGISTRANT
- ------------------ ---------------- ----------
<S> <C> <C>
The BISYS Group, Inc. Sole Shareholder of None
150 Clove Road BISYS Fund Services, Inc.
Little Falls, NJ 07424
BISYS Fund Services, Inc. Sole General Partner None
3435 Stelzer Road BISYS Fund Services, Inc.
Columbus, OH 43219
WC Subsidiary Corporation Limited Partner None
3435 Stelzer Road
Columbus, OH 43219
</TABLE>
12
<PAGE> 16
ITEM 30. LOCATION OF ACCOUNTS AND RECORDS
(1) The Bank of California, N.A., 400 California Street, San
Francisco, CA 94104 (records relating to MERUS's functions as
investment adviser and The Bank of California's functions as
custodian and sub-transfer agent).
(2) BISYS Fund Services, 3435 Stelzer Road, Columbus, Ohio 43219
(records relating to its functions as administrator and
distributor and the Registrant's Declaration of Trust, Code of
Regulations and Minute Books).
(3) BISYS Fund Services Ohio, Inc.,3435 Stelzer Road, Columbus,
Ohio 43219 (records relating to its functions as transfer
agent and fund accountant).
ITEM 31. MANAGEMENT SERVICES
None.
ITEM 32. UNDERTAKINGS
Registrant hereby undertakes to call a meeting of the shareholders for
the purpose of voting upon the question of removal of one or more
trustees when requested to do so by the holders of at least 10% of the
outstanding shares of Registrant and to comply with the provisions of
Section 16(c) of the Investment Company Act of 1940 relating to
shareholder communication.
Registrant hereby undertakes to furnish each person to whom a
prospectus is delivered with a copy of the Registrant's latest annual
report to shareholders, upon request and without charge.
NOTICE
A copy of the Amended and Restated Agreement and Declaration of The
HighMark Group is on file with the Secretary of State of The Commonwealth of
Massachusetts and notice is hereby given that this instrument is executed on
behalf of the Registrant by an officer of the Registrant as an officer and not
individually and that the obligations of or arising out of this instrument are
not binding upon any of the trustees or shareholders individually but are
binding only upon the assets and property of the Registrant.
13
<PAGE> 17
NOTICE
A copy of the Amended and Restated Agreement and Declaration of The
HighMark Group is on file with the Secretary of State of The Commonwealth of
Massachusetts and notice is hereby given that this instrument is executed on
behalf of the Registrant by an officer of the Registrant as an officer and not
individually and that the obligations of or arising out of this instrument are
not binding upon any of the trustees or shareholders individually but are
binding only upon the assets and property of the Registrant.
14
<PAGE> 18
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933 and the
Investment Company Act of 1940, the Registrant certifies that it meets all of
the requirements for effectiveness of this registration statement pursuant to
Rule 485(b) under the Securities Act of 1933 and has duly caused this
Post-Effective Amendment No. 17 to this Registration Statement to be signed on
its behalf by the undersigned, thereto duly authorized, in the City of
Washington, D.C., on the 29th day of March, 1996.
THE HIGHMARK GROUP
By:/s/Stephen G. Mintos
--------------------------
Stephen G. Mintos
President and Trustee
Pursuant to the requirements of the Securities Act of 1933, this
Post-Effective Amendment No. 17 has been signed below by the following persons
in the capacities and on the dates indicated:
<TABLE>
<CAPTION>
Signature Capacity Date
- --------- -------- ----
<S> <C> <C>
/s/ Stephen G. Mintos Chairman of the March 29, 1996
- ---------------------- Board, Trustee and
Stephen G. Mintos President (Principal
Executive Officer)
/s/ Martin R. Dean Treasurer (Principal March 29, 1996
- ---------------------- Financial and
Martin R. Dean Accounting Officer)
/s/ Thomas L. Braje Trustee March 29, 1996
- ----------------------
Thomas L. Braje
/s/ David A. Goldfarb Trustee March 29, 1996
- ----------------------
David A. Goldfarb
/s/ Joseph C. Jaeger Trustee March 29, 1996
- ----------------------
Joseph C. Jaeger
/s/ Frederick J. Long Trustee March 29, 1996
- ---------------------
Frederick J. Long
*By: /s/ Martin E. Lybecker
----------------------
Martin E. Lybecker
Attorney-In-Fact
</TABLE>
15
<PAGE> 19
POWER OF ATTORNEY
The undersigned, each being a Trustee and, in certain cases, an Officer
of The HighMark Group (the "Fund"), does hereby constitute and appoint Stephen
G. Mintos, Cynthia L. Lindsey, Martin E. Lybecker and John M. Loder, each
individually, his true and lawful attorneys and agents, with power of
substitution or resubstitution, to do any and all acts and things and to execute
any and all instruments that said attorneys and agents, each individually, may
deem necessary or advisable or which may be required to enable the Fund to
comply with the Investment Company Act of 1940, as amended, and the Securities
Act of 1933, as amended ("Acts"), and any rules, regulations or requirements of
the Securities and Exchange Commission in respect thereof, and in connection
with the filing and effectiveness of any registration statement or statement of
the Fund pursuant to said Acts and any and all amendments thereto (including
post-effective amendments), including specifically, but without limiting the
generality of the foregoing, the power and authority to sign in the name and on
behalf of the undersigned as a Trustee and/or officer of the Fund any and all
such amendments filed with the Securities and Exchange Commission under said
Acts, any Notification of Registration under the Investment Company Act of 1940
and any other instruments or documents related thereto, and the undersigned does
hereby ratify and confirm all that said attorneys and agents, or either of them,
shall do or cause to be done by virtue thereof.
<TABLE>
<CAPTION>
Signature Title Date
- --------- ----- ----
<S> <C> <C>
/s/ Stephen G. Mintos Chairman of the November 22, 1994
- -------------------------- Board, Trustee and
Stephen G. Mintos President
</TABLE>
<PAGE> 20
<TABLE>
<S> <C> <C>
/s/ Cynthia L. Lindsey Vice President and November 22, 1994
- ----------------------- and Treasurer
Cynthia L. Lindsey
/s/ Kenneth B. Quintenz Trustee November 22, 1994
- -----------------------
Kenneth B. Quintenz
/s/ Thomas L. Braje Trustee November 22, 1994
- -----------------------
Thomas L. Braje
/s/ David A. Goldfarb Trustee November 22, 1994
- -----------------------
David A. Goldfarb
/s/ Joseph C. Jaeger Trustee November 22, 1994
- -----------------------
Joseph C. Jaeger
/s/ Frederick J. Long Trustee November 22, 1994
- -----------------------
Frederick J. Long
</TABLE>
-2-
<PAGE> 21
POWER OF ATTORNEY
The undersigned, being an Officer of The HighMark Group (the "Fund"),
does hereby constitute and appoint Stephen G. Mintos, Cynthia L. Lindsey, Martin
E. Lybecker and Francoise M. Haan, each individually, his true and lawful
attorneys and agents, with power of substitution or resubstitution, to do any
and all acts and things and to execute any and all instruments that said
attorneys and agents, each individually, may deem necessary or advisable or
which may be required to enable the Fund to comply with the Investment Company
Act of 1940, as amended, and the Securities Act of 1933, as amended ("Acts"),
and any rules, regulations or requirements of the Securities and Exchange
Commission in respect thereof, and in connection with the filing and
effectiveness of any registration statement or statement of the Fund pursuant to
said Acts and any and all amendments thereto (including post-effective
amendments), including specifically, but without limiting the generality of the
foregoing, the power and authority to sign in the name and on behalf of the
undersigned as an officer of the Fund any and all such amendments filed with the
Securities and Exchange Commission under said Acts, any Notification of
Registration under the Investment Company Act of 1940 and any other instruments
or documents related thereto, and the undersigned does hereby ratify and confirm
all that said attorneys and agents, or either of them, shall do or cause to be
done by virtue thereof.
<TABLE>
<CAPTION>
Signature Title Date
- --------- ----- ----
<S> <C> <C>
/s/ Martin R. Dean Treasurer (Principal March 28, 1996
- ------------------ Financial and Accounting
Martin R. Dean Officer)
</TABLE>
<PAGE> 22
EXHIBIT INDEX
<TABLE>
<CAPTION>
EXHIBIT NO. DESCRIPTION PAGE
- ----------- ----------- ----
<S> <C> <C>
11(a) Consent of Coopers & Lybrand L.L.P.
11(b) Consent of Ropes & Gray
18 Multiple Class Plan
27 Financial Data Schedules
</TABLE>
16
<PAGE> 1
EXHIBIT 11(a)
<PAGE> 2
CONSENT OF INDEPENDENT ACCOUNTANTS
We consent to the incorporation by reference in this Post-Effective Amendment
No. 17 to the Registration Statement on Form N-1A (File No. 33-12608) of The
HighMark Group of our report dated September 22, 1995 on our audit of the
financial statements and financial highlights of The HighMark Group (comprising,
respectively, the Diversified Obligations Fund, U.S. Government Obligations
Fund, 100% U.S. Treasury Obligations Fund, California Tax-Free Fund, Tax-Free
Fund, Bond Fund, Government Bond Fund, Income Equity Fund, Balanced Fund, Growth
Fund, and Income and Growth Fund) as of July 31, 1995 and for the periods then
ended. We also consent to the reference to our Firm under the caption "Financial
Highlights" in the prospectuses and "Auditors" in the Statement of Additional
Information relating to The HighMark Group incorporated by reference in this
Post-Effective Amendment No. 17 to the Registration Statement on Form N-1A (File
No. 33-12608).
COOPERS & LYBRAND L.L.P.
Columbus, Ohio
March 28, 1996
<PAGE> 1
EXHIBIT 11(b)
<PAGE> 2
CONSENT OF COUNSEL
We hereby consent to the use of our name and the references to our firm
under the caption "Legal Counsel" included in or made a part of Post-Effective
Amendment No. 17 to the Registration Statement (Nos. 33-12608 and 811-5059) of
The HighMark Group on Form N-1A under the Securities Act of 1933, as amended.
Ropes & Gray
Washington, D.C.
March 29, 1996
<PAGE> 1
EXHIBIT 18
<PAGE> 2
THE HIGHMARK GROUP
MULTIPLE CLASS PLAN
This constitutes a MULTIPLE CLASS PLAN (the "Plan") of The HighMark
Group, a Massachusetts business trust (the "Group"), adopted pursuant to Rule
18f-3(d) under the Investment Company Act of 1940, as amended (the "1940 Act").
The Plan is applicable to the Group's investment portfolio(s) identified on
Schedule A hereto, as such Schedule may be amended from time to time (each a
"Fund", collectively the "Funds").
WHEREAS, it is desirable to enable the Group to have flexibility in
meeting the investment and shareholder servicing needs of its current and
future investors; and
WHEREAS, the Board of Trustees of the Group (the "Board of Trustees"),
including a majority of the Trustees who are not "interested persons" of the
Group, as such term is defined by the 1940 Act, mindful of the requirements
imposed by Rule 18f-3(d) under the 1940 Act, has determined to adopt this Plan
to enable the Fund to provide appropriate services to certain designated
classes of shareholders of the Fund;
NOW, THEREFORE, the Group designates the Plan as follows:
1. Designation of Classes. The Fund shall offer its units of
beneficial interest ("Shares") in two classes: Investor Shares and Fiduciary
Shares.
2. Purchases. Investor Shares are distributed to the general public
pursuant to procedures outlined in the Group's Registration Statement.
Fiduciary Shares may only be purchased by certain investors listed in the
Registration Statement. Procedures for purchasing Fiduciary Shares are outlined
in the Registration Statement.
3. Shareholder Services. Investor and Fiduciary Shares may be
purchased by check or money order, by Federal Funds wire, by telephone or
through the Automatic Investment Plan, pursuant to procedures outlined in the
Group's Registration Statement. Holders of Investor and Fiduciary Shares may
also make regular exchanges and redemptions of their Shares as described in the
Registration Statement.
4. Sales Charges.
Fiduciary Shares.
Fiduciary Shares are not subject to a sales charge at the time of
purchase or upon redemption.
<PAGE> 3
Investor Shares.
Investor Shares, except Investor Shares of any money market funds, are
subject to a sales charge at the time of purchase. The sales charge is based on
a percentage of the offering price and may vary based on the amount of
purchase. Sales charges may be waived in accordance with the current
Registration Statement.
5. Distribution and Shareholder Services Fee.
Fiduciary Shares.
Fiduciary Shares are not subject to a distribution and shareholder
services fee.
Investor Shares.
Investor Shares are subject to a distribution and shareholder services
fee assessed in accordance with the distribution and shareholder services plan
(the "Plan") adopted by the Group.
6. Minimum Transaction Requirements. The minimum initial investment and
subsequent investment requirements applicable to Investor Shares and Fiduciary
Shares shall be the same, as outlined in the Group's Registration Statement.
7. Exchange Privilege. Investor Shares and Fiduciary Shares shall be
exchangeable for Shares of the class of the various other Funds of the Group
which the Shareholder qualifies to purchase directly, provided that the minimum
investment and any other requirements of the Fund for which the shares are
exchanged are satisfied.
8. Expense Allocation. Each class shall pay the expenses associated with
its different distribution and shareholder services arrangement. Each class
may, at the Board's discretion, also pay a different share of other expenses,
not including advisory or custodial fees or other expenses related to the
management of the Group's assets, if these expenses are actually incurred in a
different amount by that class, or if the class receives services of a
different kind or to a different degree than other classes. All other expenses
will be allocated to each class on the basis of the relative net asset value of
that class in relation to the net asset value of the Fund.
9. Voting Rights. Each Share held entitles the Shareholder of record to
one vote. Each Fund will vote separately on matters relating solely to that
Fund. Each class of a Fund shall have exclusive voting rights on any matter
submitted to Shareholders that relates solely to that class, and shall have
separate voting rights on any matter submitted to Shareholders in which the
interests of one class differ from the interests of any other class. However,
all Fund Shareholders will have equal voting rights on matters that affect all
Fund Shareholders equally.
-2-
<PAGE> 4
10. Dividends. The amount of dividends payable on Fiduciary Shares
may be more than the dividends payable on Investor Shares because of the
distribution and shareholder services fee charged to Investor Shares pursuant
to the Plan. Dividends will be declared and paid monthly.
11. Termination and Amendment. This Plan may be terminated or amended
pursuant to the requirements of Rule 18f-3(d) under the 1940 Act.
The names "The HighMark Group" and "Board of Trustees" refer
respectively to the Group created and the Trustees, as Trustees but not
individually or personally, acting from time to time under a Declaration of
Trust dated March 10, 1987, as amended July 30, 1987, to which reference is
hereby made and a copy of which is on file at the office of the Secretary of
the Commonwealth of Massachusetts and elsewhere as required by law, and to any
and all amendments thereto so filed or hereafter filed. The obligations of The
HighMark Group entered into in the name or on behalf thereof by any of the
Group, representatives or agents are made not individually, but in such
capacities, and are not binding upon any of the Trustees, Shareholders or
representatives of the Group personally, but bind only the assets of the
Group, and all persons dealing with any series and/or class of Shares of the
Group must look solely to the assets of the Group belonging to such series
and/or class for the enforcement of any claims against the Group.
THE HIGHMARK GROUP
Signature: /s/ CYNTHIA L. LINDSEY
-----------------------------------
Name: Cynthia L. Lindsey
---------------------------------------
Title: Vice President
---------------------------------------
Date: March 29, 1996
-3-
<PAGE> 5
SCHEDULE A
MULTIPLE CLASS PLAN OF
THE HIGHMARK GROUP
Name of Fund (each Fund offers Investor and Fiduciary Shares)
- -------------------------------------------------------------
The HighMark Growth Fund
The HighMark Income and Growth Fund
The HighMark Income Equity Fund
The HighMark Balanced Fund
The HighMark Bond Fund
The HighMark Government Bond Fund
The HighMark Diversified Obligations Fund
The HighMark U.S. Government Obligations Fund
The HighMark 100% U.S. Treasury Obligations Fund
The HighMark California Tax-Free Fund
The HighMark Tax-Free Fund
The HighMark Intermediate California Municipal Bond Fund
The HighMark Intermediate Municipal Bond Fund
THE HIGHMARK GROUP
Signature: /s/ CYNTHIA L. LINDSEY
-----------------------------
Name: Cynthia L. Lindsey
-----------------------------
Title: Vice President
-----------------------------
Date: March 29, 1996
- 4 -
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
EXHIBIT 27
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 1
<NAME> DIVERSIFIED OBLIGATIONS
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 407525
<INVESTMENTS-AT-VALUE> 407525
<RECEIVABLES> 2061
<ASSETS-OTHER> 23
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 409609
<PAYABLE-FOR-SECURITIES> 4961
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1933
<TOTAL-LIABILITIES> 6894
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 403095
<SHARES-COMMON-STOCK> 403095
<SHARES-COMMON-PRIOR> 399053
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 380
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 402715
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11238
<OTHER-INCOME> 0
<EXPENSES-NET> 1441
<NET-INVESTMENT-INCOME> 9797
<REALIZED-GAINS-CURRENT> 6
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 9803
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9797
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 922965
<NUMBER-OF-SHARES-REDEEMED> 922355
<SHARES-REINVESTED> 3432
<NET-CHANGE-IN-ASSETS> 4048
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 386
<GROSS-ADVISORY-FEES> 771
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1895
<AVERAGE-NET-ASSETS> 142978<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .026<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .026<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .75<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 12
<NAME> DIVERSIFIED OBLIGATIONS
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 407525
<INVESTMENTS-AT-VALUE> 407525
<RECEIVABLES> 2061
<ASSETS-OTHER> 23
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 409609
<PAYABLE-FOR-SECURITIES> 4961
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1933
<TOTAL-LIABILITIES> 6894
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 403095
<SHARES-COMMON-STOCK> 403095
<SHARES-COMMON-PRIOR> 399053
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 380
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 402715
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11238
<OTHER-INCOME> 0
<EXPENSES-NET> 1441
<NET-INVESTMENT-INCOME> 9797
<REALIZED-GAINS-CURRENT> 6
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 9803
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 9797
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 922965
<NUMBER-OF-SHARES-REDEEMED> 922355
<SHARES-REINVESTED> 3432
<NET-CHANGE-IN-ASSETS> 4048
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 386
<GROSS-ADVISORY-FEES> 771
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1895
<AVERAGE-NET-ASSETS> 239237<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .026<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .026<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .75<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 2
<NAME> THE HIGHMARK U.S. GOVERNMENT OBLIGATIONS FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 219560
<INVESTMENTS-AT-VALUE> 219560
<RECEIVABLES> 332
<ASSETS-OTHER> 35
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 219927
<PAYABLE-FOR-SECURITIES> 5000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1222
<TOTAL-LIABILITIES> 6222
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213890
<SHARES-COMMON-STOCK> 213890
<SHARES-COMMON-PRIOR> 208412
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 185
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 213705
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6653
<OTHER-INCOME> 0
<EXPENSES-NET> 896
<NET-INVESTMENT-INCOME> 5757
<REALIZED-GAINS-CURRENT> 6
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5763
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5757
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1034295
<NUMBER-OF-SHARES-REDEEMED> 1030650
<SHARES-REINVESTED> 1833
<NET-CHANGE-IN-ASSETS> 5484
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 191
<GROSS-ADVISORY-FEES> 465
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1173
<AVERAGE-NET-ASSETS> 80423<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .025<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .025<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .079<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 21
<NAME> THE HIGHMARK U.S. GOVERNMENT OBLIGATIONS FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 219560
<INVESTMENTS-AT-VALUE> 219560
<RECEIVABLES> 332
<ASSETS-OTHER> 35
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 219927
<PAYABLE-FOR-SECURITIES> 5000
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1222
<TOTAL-LIABILITIES> 6222
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213890
<SHARES-COMMON-STOCK> 213890
<SHARES-COMMON-PRIOR> 208412
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 185
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 213705
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 6653
<OTHER-INCOME> 0
<EXPENSES-NET> 896
<NET-INVESTMENT-INCOME> 5757
<REALIZED-GAINS-CURRENT> 6
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 5763
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 5757
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1034295
<NUMBER-OF-SHARES-REDEEMED> 1030650
<SHARES-REINVESTED> 1833
<NET-CHANGE-IN-ASSETS> 5484
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 191
<GROSS-ADVISORY-FEES> 465
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1173
<AVERAGE-NET-ASSETS> 150100<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .025<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .025<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .076<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 3
<NAME> THE HIGHMARK 100% U.S. TREASURY OBLIGATIONS FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 329175
<INVESTMENTS-AT-VALUE> 329175
<RECEIVABLES> 575
<ASSETS-OTHER> 15
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 329765
<PAYABLE-FOR-SECURITIES> 9873
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1412
<TOTAL-LIABILITIES> 11285
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 318418
<SHARES-COMMON-STOCK> 318480
<SHARES-COMMON-PRIOR> 279208
<ACCUMULATED-NII-CURRENT> 62
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 318418
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8192
<OTHER-INCOME> 0
<EXPENSES-NET> 1086
<NET-INVESTMENT-INCOME> 7106
<REALIZED-GAINS-CURRENT> 6
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 7112
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7106
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 489635
<NUMBER-OF-SHARES-REDEEMED> 452658
<SHARES-REINVESTED> 2233
<NET-CHANGE-IN-ASSETS> 39216
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 56
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 591
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1437
<AVERAGE-NET-ASSETS> 99931<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .024<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .024<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .73<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 31
<NAME> THE HIGHMARK 100% U.S. TREASURY OBLIGATIONS FUND
<MULTIPLIER> 1000
<S> <C>
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<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
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<INVESTMENTS-AT-COST> 329175
<INVESTMENTS-AT-VALUE> 329175
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<TOTAL-ASSETS> 329765
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<EXPENSES-NET> 1086
<NET-INVESTMENT-INCOME> 7106
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<NET-CHANGE-FROM-OPS> 7112
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<NUMBER-OF-SHARES-REDEEMED> 452658
<SHARES-REINVESTED> 2233
<NET-CHANGE-IN-ASSETS> 39216
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 56
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 591
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1437
<AVERAGE-NET-ASSETS> 193408<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .024<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .024<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .73<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 4
<NAME> THE HIGHMARK CALIFORNIA TAX-FREE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1996
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<INVESTMENTS-AT-COST> 153685
<INVESTMENTS-AT-VALUE> 153685
<RECEIVABLES> 1487
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<SENIOR-LONG-TERM-DEBT> 0
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<PAID-IN-CAPITAL-COMMON> 150655
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<SHARES-COMMON-PRIOR> 146335
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 49
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 150606
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2926
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<EXPENSES-NET> 421
<NET-INVESTMENT-INCOME> 2505
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2505
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2505
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 180079
<NUMBER-OF-SHARES-REDEEMED> 176542
<SHARES-REINVESTED> 783
<NET-CHANGE-IN-ASSETS> 4320
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 49
<GROSS-ADVISORY-FEES> 325
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 807
<AVERAGE-NET-ASSETS> 51587<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .016<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .016<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .52<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 41
<NAME> THE HIGHMARK CALIFORNIA TAX-FREE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 153685
<INVESTMENTS-AT-VALUE> 153685
<RECEIVABLES> 1487
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<OTHER-ITEMS-LIABILITIES> 4573
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 150655
<SHARES-COMMON-STOCK> 150655
<SHARES-COMMON-PRIOR> 146335
<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 49
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 150606
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2926
<OTHER-INCOME> 0
<EXPENSES-NET> 421
<NET-INVESTMENT-INCOME> 2505
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 2505
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2505
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 180079
<NUMBER-OF-SHARES-REDEEMED> 176542
<SHARES-REINVESTED> 783
<NET-CHANGE-IN-ASSETS> 4320
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 49
<GROSS-ADVISORY-FEES> 325
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 807
<AVERAGE-NET-ASSETS> 109353<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .016<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .016<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .52<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 5
<NAME> THE HIGHMARK TAX-FREE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 43976
<INVESTMENTS-AT-VALUE> 43976
<RECEIVABLES> 177
<ASSETS-OTHER> 1
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<TOTAL-ASSETS> 44154
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<SENIOR-LONG-TERM-DEBT> 0
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<SHARES-COMMON-PRIOR> 43531
<ACCUMULATED-NII-CURRENT> 0
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<OVERDISTRIBUTION-GAINS> 16
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 42931
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 828
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<EXPENSES-NET> 163
<NET-INVESTMENT-INCOME> 665
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 665
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 72809
<NUMBER-OF-SHARES-REDEEMED> 73605
<SHARES-REINVESTED> 212
<NET-CHANGE-IN-ASSETS> (584)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 16
<GROSS-ADVISORY-FEES> 87
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 250
<AVERAGE-NET-ASSETS> 13199<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .15<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .15<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .75<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 51
<NAME> THE HIGHMARK TAX-FREE FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 43976
<INVESTMENTS-AT-VALUE> 43976
<RECEIVABLES> 177
<ASSETS-OTHER> 1
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<TOTAL-ASSETS> 44154
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<TOTAL-LIABILITIES> 1223
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<SHARES-COMMON-PRIOR> 43531
<ACCUMULATED-NII-CURRENT> 0
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<OVERDISTRIBUTION-GAINS> 16
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 42931
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 828
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<EXPENSES-NET> 163
<NET-INVESTMENT-INCOME> 665
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<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 665
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 72809
<NUMBER-OF-SHARES-REDEEMED> 73605
<SHARES-REINVESTED> 212
<NET-CHANGE-IN-ASSETS> (584)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 16
<GROSS-ADVISORY-FEES> 87
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 250
<AVERAGE-NET-ASSETS> 30067<F1>
<PER-SHARE-NAV-BEGIN> 1.00<F1>
<PER-SHARE-NII> .15<F1>
<PER-SHARE-GAIN-APPREC> 0<F1>
<PER-SHARE-DIVIDEND> .15<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 1.00<F1>
<EXPENSE-RATIO> .74<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 6
<NAME> THE HIGHMARK BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 59805
<INVESTMENTS-AT-VALUE> 62576
<RECEIVABLES> 3351
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 65928
<PAYABLE-FOR-SECURITIES> 2088
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 2484
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 63654
<SHARES-COMMON-STOCK> 5859
<SHARES-COMMON-PRIOR> 5812
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2982
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 63444
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2169
<OTHER-INCOME> 0
<EXPENSES-NET> 278
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> (183)
<APPREC-INCREASE-CURRENT> 2862
<NET-CHANGE-FROM-OPS> 4570
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1891
<DISTRIBUTIONS-OF-GAINS> 33
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 596
<NUMBER-OF-SHARES-REDEEMED> 694
<SHARES-REINVESTED> 145
<NET-CHANGE-IN-ASSETS> 3128
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 2766
<GROSS-ADVISORY-FEES> 269
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 501
<AVERAGE-NET-ASSETS> 789<F1>
<PER-SHARE-NAV-BEGIN> 10.29<F1>
<PER-SHARE-NII> .31<F1>
<PER-SHARE-GAIN-APPREC> .47<F1>
<PER-SHARE-DIVIDEND> .33<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.74<F1>
<EXPENSE-RATIO> .88<F1>
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 61
<NAME> THE HIGHMARK BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 59805
<INVESTMENTS-AT-VALUE> 62576
<RECEIVABLES> 3351
<ASSETS-OTHER> 1
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 65928
<PAYABLE-FOR-SECURITIES> 2088
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 2484
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 63654
<SHARES-COMMON-STOCK> 5859
<SHARES-COMMON-PRIOR> 5812
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 2982
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 63444
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 2169
<OTHER-INCOME> 0
<EXPENSES-NET> 278
<NET-INVESTMENT-INCOME> 0
<REALIZED-GAINS-CURRENT> (183)
<APPREC-INCREASE-CURRENT> 2862
<NET-CHANGE-FROM-OPS> 4570
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1891
<DISTRIBUTIONS-OF-GAINS> 33
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<NUMBER-OF-SHARES-SOLD> 596
<NUMBER-OF-SHARES-REDEEMED> 694
<SHARES-REINVESTED> 145
<NET-CHANGE-IN-ASSETS> 3128
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 2766
<GROSS-ADVISORY-FEES> 269
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 501
<AVERAGE-NET-ASSETS> 61554<F1>
<PER-SHARE-NAV-BEGIN> 10.38<F1>
<PER-SHARE-NII> .32<F1>
<PER-SHARE-GAIN-APPREC> .46<F1>
<PER-SHARE-DIVIDEND> .33<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.83<F1>
<EXPENSE-RATIO> .88<F1>
<AVG-DEBT-OUTSTANDING> 0<F1>
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 7
<NAME> THE HIGHMARK INCOME EQUITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 224730
<INVESTMENTS-AT-VALUE> 271134
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<TOTAL-ASSETS> 271870
<PAYABLE-FOR-SECURITIES> 925
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 1743
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 216784
<SHARES-COMMON-STOCK> 18664
<SHARES-COMMON-PRIOR> 17321
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6939
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 270127
<DIVIDEND-INCOME> 4762
<INTEREST-INCOME> 279
<OTHER-INCOME> 0
<EXPENSES-NET> 1280
<NET-INVESTMENT-INCOME> 3761
<REALIZED-GAINS-CURRENT> 11349
<APPREC-INCREASE-CURRENT> 25966
<NET-CHANGE-FROM-OPS> 41076
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3761
<DISTRIBUTIONS-OF-GAINS> 11556
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2047
<NUMBER-OF-SHARES-REDEEMED> 1695
<SHARES-REINVESTED> 991
<NET-CHANGE-IN-ASSETS> 44921
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 7146
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 818
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1572
<AVERAGE-NET-ASSETS> 5393<F1>
<PER-SHARE-NAV-BEGIN> 13.03<F1>
<PER-SHARE-NII> .22<F1>
<PER-SHARE-GAIN-APPREC> 2.13<F1>
<PER-SHARE-DIVIDEND> .88<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 14.50<F1>
<EXPENSE-RATIO> 1.04<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 71
<NAME> THE HIGHMARK INCOME EQUITY FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 224730
<INVESTMENTS-AT-VALUE> 271134
<RECEIVABLES> 736
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 271870
<PAYABLE-FOR-SECURITIES> 925
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 1743
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 216784
<SHARES-COMMON-STOCK> 18664
<SHARES-COMMON-PRIOR> 17321
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 6939
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 270127
<DIVIDEND-INCOME> 4762
<INTEREST-INCOME> 279
<OTHER-INCOME> 0
<EXPENSES-NET> 1280
<NET-INVESTMENT-INCOME> 3761
<REALIZED-GAINS-CURRENT> 11349
<APPREC-INCREASE-CURRENT> 25966
<NET-CHANGE-FROM-OPS> 41076
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3761
<DISTRIBUTIONS-OF-GAINS> 11556
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2047
<NUMBER-OF-SHARES-REDEEMED> 1695
<SHARES-REINVESTED> 991
<NET-CHANGE-IN-ASSETS> 44921
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 7146
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 818
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1572
<AVERAGE-NET-ASSETS> 238563<F1>
<PER-SHARE-NAV-BEGIN> 13.00<F1>
<PER-SHARE-NII> .21<F1>
<PER-SHARE-GAIN-APPREC> 2.13<F1>
<PER-SHARE-DIVIDEND> .87<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 14.47<F1>
<EXPENSE-RATIO> 1.04<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 8
<NAME> THE HIGHMARK BALANCED FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 29676
<INVESTMENTS-AT-VALUE> 34549
<RECEIVABLES> 227
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 34779
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 117
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 29880
<SHARES-COMMON-STOCK> 2951
<SHARES-COMMON-PRIOR> 2803
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 90
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 34662
<DIVIDEND-INCOME> 268
<INTEREST-INCOME> 462
<OTHER-INCOME> 0
<EXPENSES-NET> 149
<NET-INVESTMENT-INCOME> 581
<REALIZED-GAINS-CURRENT> 104
<APPREC-INCREASE-CURRENT> 2474
<NET-CHANGE-FROM-OPS> 3159
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 571
<DISTRIBUTIONS-OF-GAINS> 2
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 576
<NUMBER-OF-SHARES-REDEEMED> 479
<SHARES-REINVESTED> 51
<NET-CHANGE-IN-ASSETS> 4234
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 192
<GROSS-ADVISORY-FEES> 163
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 289
<AVERAGE-NET-ASSETS> 556<F1>
<PER-SHARE-NAV-BEGIN> 10.79<F1>
<PER-SHARE-NII> .20<F1>
<PER-SHARE-GAIN-APPREC> .88<F1>
<PER-SHARE-DIVIDEND> .20<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.66<F1>
<EXPENSE-RATIO> .92<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 81
<NAME> THE HIGHMARK BALANCED FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 29676
<INVESTMENTS-AT-VALUE> 34549
<RECEIVABLES> 227
<ASSETS-OTHER> 3
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 34779
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 0
<TOTAL-LIABILITIES> 117
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 29880
<SHARES-COMMON-STOCK> 2951
<SHARES-COMMON-PRIOR> 2803
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 90
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 34662
<DIVIDEND-INCOME> 268
<INTEREST-INCOME> 462
<OTHER-INCOME> 0
<EXPENSES-NET> 149
<NET-INVESTMENT-INCOME> 581
<REALIZED-GAINS-CURRENT> 104
<APPREC-INCREASE-CURRENT> 2474
<NET-CHANGE-FROM-OPS> 3159
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 571
<DISTRIBUTIONS-OF-GAINS> 2
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 576
<NUMBER-OF-SHARES-REDEEMED> 479
<SHARES-REINVESTED> 51
<NET-CHANGE-IN-ASSETS> 4234
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 192
<GROSS-ADVISORY-FEES> 163
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 289
<AVERAGE-NET-ASSETS> 31770<F1>
<PER-SHARE-NAV-BEGIN> 10.85<F1>
<PER-SHARE-NII> .20<F1>
<PER-SHARE-GAIN-APPREC> .90<F1>
<PER-SHARE-DIVIDEND> .20<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.75<F1>
<EXPENSE-RATIO> .92<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 9
<NAME> THE HIGHMARK GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 32492
<INVESTMENTS-AT-VALUE> 38447
<RECEIVABLES> 112
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38561
<PAYABLE-FOR-SECURITIES> 1006
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 58
<TOTAL-LIABILITIES> 1064
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 31225
<SHARES-COMMON-STOCK> 2996
<SHARES-COMMON-PRIOR> 2217
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 317
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 37497
<DIVIDEND-INCOME> 256
<INTEREST-INCOME> 46
<OTHER-INCOME> 0
<EXPENSES-NET> 139
<NET-INVESTMENT-INCOME> 163
<REALIZED-GAINS-CURRENT> 1215
<APPREC-INCREASE-CURRENT> 2193
<NET-CHANGE-FROM-OPS> 3571
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 163
<DISTRIBUTIONS-OF-GAINS> 1660
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 809
<NUMBER-OF-SHARES-REDEEMED> 178
<SHARES-REINVESTED> 148
<NET-CHANGE-IN-ASSETS> 11183
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 762
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 155
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 139
<AVERAGE-NET-ASSETS> 163<F1>
<PER-SHARE-NAV-BEGIN> 11.87<F1>
<PER-SHARE-NII> .07<F1>
<PER-SHARE-GAIN-APPREC> 1.29<F1>
<PER-SHARE-DIVIDEND> .69<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 12.54<F1>
<EXPENSE-RATIO> .89<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 91
<NAME> THE HIGHMARK GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1996
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 32492
<INVESTMENTS-AT-VALUE> 38447
<RECEIVABLES> 112
<ASSETS-OTHER> 2
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 38561
<PAYABLE-FOR-SECURITIES> 1006
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 58
<TOTAL-LIABILITIES> 1064
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 31225
<SHARES-COMMON-STOCK> 2996
<SHARES-COMMON-PRIOR> 2217
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 317
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 37497
<DIVIDEND-INCOME> 256
<INTEREST-INCOME> 46
<OTHER-INCOME> 0
<EXPENSES-NET> 139
<NET-INVESTMENT-INCOME> 163
<REALIZED-GAINS-CURRENT> 1215
<APPREC-INCREASE-CURRENT> 2193
<NET-CHANGE-FROM-OPS> 3571
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 163
<DISTRIBUTIONS-OF-GAINS> 1660
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 809
<NUMBER-OF-SHARES-REDEEMED> 178
<SHARES-REINVESTED> 148
<NET-CHANGE-IN-ASSETS> 11183
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 762
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 155
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 139
<AVERAGE-NET-ASSETS> 29172<F1>
<PER-SHARE-NAV-BEGIN> 11.87<F1>
<PER-SHARE-NII> .06<F1>
<PER-SHARE-GAIN-APPREC> 1.28<F1>
<PER-SHARE-DIVIDEND> .70<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 12.51<F1>
<EXPENSE-RATIO> .89<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 10
<NAME> THE HIGHMARK INCOME & GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 5021
<INVESTMENTS-AT-VALUE> 6246
<RECEIVABLES> 12
<ASSETS-OTHER> 6
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6264
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14
<TOTAL-LIABILITIES> 14
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5055
<SHARES-COMMON-STOCK> 508
<SHARES-COMMON-PRIOR> 586
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 31
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 6250
<DIVIDEND-INCOME> 82
<INTEREST-INCOME> 10
<OTHER-INCOME> 0
<EXPENSES-NET> 29
<NET-INVESTMENT-INCOME> 63
<REALIZED-GAINS-CURRENT> 344
<APPREC-INCREASE-CURRENT> 229
<NET-CHANGE-FROM-OPS> 636
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 63
<DISTRIBUTIONS-OF-GAINS> 329
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 145
<NUMBER-OF-SHARES-REDEEMED> 255
<SHARES-REINVESTED> 32
<NET-CHANGE-IN-ASSETS> (634)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 46
<GROSS-ADVISORY-FEES> 29
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 100
<AVERAGE-NET-ASSETS> 234<F1>
<PER-SHARE-NAV-BEGIN> 11.75<F1>
<PER-SHARE-NII> .13<F1>
<PER-SHARE-GAIN-APPREC> 1.26<F1>
<PER-SHARE-DIVIDEND> .83<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 12.31<F1>
<EXPENSE-RATIO> .98<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 101
<NAME> THE HIGHMARK INCOME & GROWTH FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 5021
<INVESTMENTS-AT-VALUE> 6246
<RECEIVABLES> 12
<ASSETS-OTHER> 6
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 6264
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 14
<TOTAL-LIABILITIES> 14
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 5055
<SHARES-COMMON-STOCK> 508
<SHARES-COMMON-PRIOR> 586
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 31
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 6250
<DIVIDEND-INCOME> 82
<INTEREST-INCOME> 10
<OTHER-INCOME> 0
<EXPENSES-NET> 29
<NET-INVESTMENT-INCOME> 63
<REALIZED-GAINS-CURRENT> 344
<APPREC-INCREASE-CURRENT> 229
<NET-CHANGE-FROM-OPS> 636
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 63
<DISTRIBUTIONS-OF-GAINS> 329
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 145
<NUMBER-OF-SHARES-REDEEMED> 255
<SHARES-REINVESTED> 32
<NET-CHANGE-IN-ASSETS> (634)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 46
<GROSS-ADVISORY-FEES> 29
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 100
<AVERAGE-NET-ASSETS> 5518<F1>
<PER-SHARE-NAV-BEGIN> 11.74<F1>
<PER-SHARE-NII> .14<F1>
<PER-SHARE-GAIN-APPREC> 1.25<F1>
<PER-SHARE-DIVIDEND> .83<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 12.30<F1>
<EXPENSE-RATIO> .98<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 11
<NAME> THE HIGHMARK GOVERNMENT BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 4512
<INVESTMENTS-AT-VALUE> 4667
<RECEIVABLES> 92
<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4769
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 30
<TOTAL-LIABILITIES> 30
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4903
<SHARES-COMMON-STOCK> 487
<SHARES-COMMON-PRIOR> 419
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 319
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4739
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 144
<OTHER-INCOME> 0
<EXPENSES-NET> 18
<NET-INVESTMENT-INCOME> 126
<REALIZED-GAINS-CURRENT> (20)
<APPREC-INCREASE-CURRENT> 127
<NET-CHANGE-FROM-OPS> 233
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 126
<DISTRIBUTIONS-OF-GAINS> 1
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 123
<NUMBER-OF-SHARES-REDEEMED> 68
<SHARES-REINVESTED> 13
<NET-CHANGE-IN-ASSETS> 755
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 298
<GROSS-ADVISORY-FEES> 21
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 82
<AVERAGE-NET-ASSETS> 558<F1>
<PER-SHARE-NAV-BEGIN> 9.43<F1>
<PER-SHARE-NII> .32<F1>
<PER-SHARE-GAIN-APPREC> .22<F1>
<PER-SHARE-DIVIDEND> .30<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.67<F1>
<EXPENSE-RATIO> .85<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000811527
<NAME> THE HIGHMARK GROUP
<SERIES>
<NUMBER> 111
<NAME> THE HIGHMARK GOVERNMENT BOND FUND
<MULTIPLIER> 1000
<S> <C>
<PERIOD-TYPE> SEMI-ANNUAL
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 4512
<INVESTMENTS-AT-VALUE> 4667
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<ASSETS-OTHER> 10
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4769
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 30
<TOTAL-LIABILITIES> 30
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 4903
<SHARES-COMMON-STOCK> 487
<SHARES-COMMON-PRIOR> 419
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 319
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 4739
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 144
<OTHER-INCOME> 0
<EXPENSES-NET> 18
<NET-INVESTMENT-INCOME> 126
<REALIZED-GAINS-CURRENT> (20)
<APPREC-INCREASE-CURRENT> 127
<NET-CHANGE-FROM-OPS> 233
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 126
<DISTRIBUTIONS-OF-GAINS> 1
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 123
<NUMBER-OF-SHARES-REDEEMED> 68
<SHARES-REINVESTED> 13
<NET-CHANGE-IN-ASSETS> 755
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 298
<GROSS-ADVISORY-FEES> 21
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 82
<AVERAGE-NET-ASSETS> 3620<F1>
<PER-SHARE-NAV-BEGIN> 9.50<F1>
<PER-SHARE-NII> .30<F1>
<PER-SHARE-GAIN-APPREC> .24<F1>
<PER-SHARE-DIVIDEND> .30<F1>
<PER-SHARE-DISTRIBUTIONS> 0<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.74<F1>
<EXPENSE-RATIO> .85<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
