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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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<PAGE> PAGE 9
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<PAGE> PAGE 10
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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070 B020400 N
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070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 N
070 H020400 N
070 I010400 N
070 I020400 N
070 J010400 Y
070 J020400 N
070 K010400 Y
070 K020400 N
070 L010400 N
070 L020400 N
070 M010400 N
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 Y
070 P020400 N
070 Q010400 N
070 Q020400 N
070 R010400 N
070 R020400 N
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072 A000400 6
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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074 T000400 84416
074 U010400 8331
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075 B000400 83478
076 000400 0.00
024 000500 Y
025 A000501 LEHMAN BROS, INC.
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025 D000501 957
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028 B020500 239
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<PAGE> PAGE 24
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035 000500 0
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
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048 I010500 0
048 I020500 0.000
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048 J020500 0.000
<PAGE> PAGE 25
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
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053 B000500 Y
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058 A000500 N
059 000500 Y
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060 B000500 Y
061 000500 1000
062 A000500 Y
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062 O000500 6.7
062 P000500 29.9
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062 R000500 0.0
063 A000500 0
063 B000500 7.5
064 A000500 N
064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
070 A020500 Y
070 B010500 N
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
<PAGE> PAGE 26
070 F010500 N
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 N
070 H020500 N
070 I010500 N
070 I020500 N
070 J010500 Y
070 J020500 N
070 K010500 Y
070 K020500 N
070 L010500 Y
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 N
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 9960
071 B000500 9107
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072 B000500 2589
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<PAGE> PAGE 27
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075 B000500 78814
076 000500 0.00
024 000600 N
028 A010600 81785
<PAGE> PAGE 28
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028 B020600 254
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028 G020600 1673
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028 G040600 403424
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031 B000600 0
032 000600 0
033 000600 0
034 000600 N
035 000600 0
036 B000600 0
037 000600 N
038 000600 0
039 000600 N
040 000600 Y
041 000600 N
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042 C000600 0
042 D000600 0
042 E000600 0
042 F000600 0
042 G000600 0
<PAGE> PAGE 29
042 H000600 0
043 000600 0
044 000600 0
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048 H020600 0.000
048 I010600 0
048 I020600 0.000
048 J010600 0
048 J020600 0.000
048 K010600 0
048 K020600 0.000
049 000600 N
050 000600 N
051 000600 N
052 000600 N
053 A000600 N
058 A000600 N
059 000600 Y
060 A000600 Y
060 B000600 Y
061 000600 1000
062 A000600 Y
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062 H000600 0.0
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<PAGE> PAGE 30
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063 A000600 39
063 B000600 0.0
064 A000600 N
064 B000600 N
066 A000600 N
067 000600 N
068 A000600 N
068 B000600 N
069 000600 N
070 A010600 Y
070 A020600 Y
070 B010600 N
070 B020600 N
070 C010600 N
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 N
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 N
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 N
070 J020600 N
070 K010600 N
070 K020600 N
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 N
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
<PAGE> PAGE 31
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<PAGE> PAGE 32
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024 000700 Y
025 A000701 PAINEWEBBER GROUP, INC.
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<PAGE> PAGE 33
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038 000700 0
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041 000700 Y
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 011
<NAME> Hibernia Capital Appreciation Fund - Class A Shares
<S> <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 012
<NAME> Hibernia Capital Appreciation Fund - Class B Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
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<PERIOD-END> Feb-28-1999
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<TOTAL-LIABILITIES> "71,609"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "204,500,542"
<SHARES-COMMON-STOCK> "630,767"
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<OVERDISTRIBUTION-NII> "(81,179)"
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<OVERDISTRIBUTION-GAINS> 0
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<PER-SHARE-NAV-END> 24.320
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 021
<NAME> Hibernia Cash Reserve Fund - Class A Shares
<S> <C>
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<PAYABLE-FOR-SECURITIES> "8,384,954"
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<PAID-IN-CAPITAL-COMMON> "157,198,047"
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<NET-ASSETS> "157,004,861"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "4,365,849"
<OTHER-INCOME> 0
<EXPENSES-NET> "(756,615)"
<NET-INVESTMENT-INCOME> "3,609,234"
<REALIZED-GAINS-CURRENT> 0
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<NET-CHANGE-FROM-OPS> "3,609,234"
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<DISTRIBUTIONS-OF-INCOME> "(3,606,583)"
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> "266,277,025"
<NUMBER-OF-SHARES-REDEEMED> "(259,264,925)"
<SHARES-REINVESTED> "773,412"
<NET-CHANGE-IN-ASSETS> "7,978,698"
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<GROSS-EXPENSE> "756,615"
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 022
<NAME> Hibernia Cash Reserve Fund - Class B Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "166,887,846"
<INVESTMENTS-AT-VALUE> "166,887,846"
<RECEIVABLES> "133,437"
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<TOTAL-ASSETS> "167,021,283"
<PAYABLE-FOR-SECURITIES> "8,384,954"
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "1,438,282"
<TOTAL-LIABILITIES> "9,823,236"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "157,198,047"
<SHARES-COMMON-STOCK> "193,186"
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> "193,186"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "4,365,849"
<OTHER-INCOME> 0
<EXPENSES-NET> "(756,615)"
<NET-INVESTMENT-INCOME> "3,609,234"
<REALIZED-GAINS-CURRENT> 0
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(2,651)"
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> "202,386"
<NUMBER-OF-SHARES-REDEEMED> "(11,375)"
<SHARES-REINVESTED> "2,175"
<NET-CHANGE-IN-ASSETS> "7,978,698"
<ACCUMULATED-NII-PRIOR> 0
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<GROSS-ADVISORY-FEES> "335,397"
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<GROSS-EXPENSE> "756,615"
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<PER-SHARE-NAV-BEGIN> 1.000
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<EXPENSE-RATIO> 1.65
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 03
<NAME> Hibernia Louisiana Municipal Income Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "91,047,305"
<INVESTMENTS-AT-VALUE> "97,383,224"
<RECEIVABLES> "1,263,296"
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> "172,029"
<TOTAL-ASSETS> "98,818,549"
<PAYABLE-FOR-SECURITIES> "518,948"
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "230,918"
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<PAID-IN-CAPITAL-COMMON> "91,525,259"
<SHARES-COMMON-STOCK> "8,616,235"
<SHARES-COMMON-PRIOR> "8,604,069"
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> "(75,259)"
<ACCUMULATED-NET-GAINS> "282,764"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "6,335,919"
<NET-ASSETS> "98,068,683"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "2,607,360"
<OTHER-INCOME> 0
<EXPENSES-NET> "(319,807)"
<NET-INVESTMENT-INCOME> "2,287,553"
<REALIZED-GAINS-CURRENT> "294,299"
<APPREC-INCREASE-CURRENT> "(369,370)"
<NET-CHANGE-FROM-OPS> "2,212,482"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(2,337,657)"
<DISTRIBUTIONS-OF-GAINS> "(641,368)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "339,952"
<NUMBER-OF-SHARES-REDEEMED> "(445,562)"
<SHARES-REINVESTED> "117,776"
<NET-CHANGE-IN-ASSETS> "(642,575)"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "629,833"
<OVERDISTRIB-NII-PRIOR> "(25,155)"
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "218,816"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "439,035"
<AVERAGE-NET-ASSETS> "98,057,390"
<PER-SHARE-NAV-BEGIN> 11.470
<PER-SHARE-NII> 0.260
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<PER-SHARE-DIVIDEND> (0.270)
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<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.380
<EXPENSE-RATIO> 0.66
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 071
<NAME> Hibernia Mid Cap Equity Fund - Class A Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "16,843,110"
<INVESTMENTS-AT-VALUE> "18,075,266"
<RECEIVABLES> "14,318"
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> "70,551"
<TOTAL-ASSETS> "18,160,135"
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "12,212"
<TOTAL-LIABILITIES> "12,212"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "17,542,836"
<SHARES-COMMON-STOCK> "1,626,536"
<SHARES-COMMON-PRIOR> "1,648,740"
<ACCUMULATED-NII-CURRENT> "(35,950)"
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> "(591,119)"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "1,232,156"
<NET-ASSETS> "16,848,725"
<DIVIDEND-INCOME> "88,163"
<INTEREST-INCOME> "25,859"
<OTHER-INCOME> 0
<EXPENSES-NET> "(149,972)"
<NET-INVESTMENT-INCOME> "(35,950)"
<REALIZED-GAINS-CURRENT> "(591,119)"
<APPREC-INCREASE-CURRENT> "4,363,490"
<NET-CHANGE-FROM-OPS> "3,736,421"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> "136,503"
<NUMBER-OF-SHARES-REDEEMED> "(158,707)"
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> "4,159,546"
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<GROSS-ADVISORY-FEES> "62,275"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "227,740"
<AVERAGE-NET-ASSETS> "15,733,362"
<PER-SHARE-NAV-BEGIN> 8.140
<PER-SHARE-NII> (0.020)
<PER-SHARE-GAIN-APPREC> 2.240
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<PER-SHARE-NAV-END> 10.360
<EXPENSE-RATIO> 1.76
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 072
<NAME> Hibernia Mid Cap Equity Fund - Class B Shares
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "16,843,110"
<INVESTMENTS-AT-VALUE> "18,075,266"
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<ASSETS-OTHER> 0
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<TOTAL-ASSETS> "18,160,135"
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "17,542,836"
<SHARES-COMMON-STOCK> "125,846"
<SHARES-COMMON-PRIOR> "69,652"
<ACCUMULATED-NII-CURRENT> "(35,950)"
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "1,232,156"
<NET-ASSETS> "1,299,198"
<DIVIDEND-INCOME> "88,163"
<INTEREST-INCOME> "25,859"
<OTHER-INCOME> 0
<EXPENSES-NET> "(149,972)"
<NET-INVESTMENT-INCOME> "(35,950)"
<REALIZED-GAINS-CURRENT> "(591,119)"
<APPREC-INCREASE-CURRENT> "4,363,490"
<NET-CHANGE-FROM-OPS> "3,736,421"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> "65,739"
<NUMBER-OF-SHARES-REDEEMED> "(9,545)"
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> "4,159,546"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "62,275"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "227,740"
<AVERAGE-NET-ASSETS> "1,010,872"
<PER-SHARE-NAV-BEGIN> 8.130
<PER-SHARE-NII> (0.050)
<PER-SHARE-GAIN-APPREC> 2.240
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<PER-SHARE-NAV-END> 10.320
<EXPENSE-RATIO> 2.51
<AVG-DEBT-OUTSTANDING> 0
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 05
<NAME> Hibernia Total Return Bond Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "77,543,407"
<INVESTMENTS-AT-VALUE> "78,291,977"
<RECEIVABLES> "1,179,158"
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<OTHER-ITEMS-ASSETS> "137,728"
<TOTAL-ASSETS> "79,608,863"
<PAYABLE-FOR-SECURITIES> 0
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<OTHER-ITEMS-LIABILITIES> "139,712"
<TOTAL-LIABILITIES> "139,712"
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<PAID-IN-CAPITAL-COMMON> "78,633,648"
<SHARES-COMMON-STOCK> "7,906,242"
<SHARES-COMMON-PRIOR> "7,787,517"
<ACCUMULATED-NII-CURRENT> "50,035"
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<ACCUMULATED-NET-GAINS> "36,898"
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> "748,570"
<NET-ASSETS> "79,469,151"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "2,588,844"
<OTHER-INCOME> 0
<EXPENSES-NET> "(373,736)"
<NET-INVESTMENT-INCOME> "2,215,108"
<REALIZED-GAINS-CURRENT> "53,129"
<APPREC-INCREASE-CURRENT> "(1,584,532)"
<NET-CHANGE-FROM-OPS> "683,705"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(2,154,592)"
<DISTRIBUTIONS-OF-GAINS> "(197,305)"
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "504,360"
<NUMBER-OF-SHARES-REDEEMED> "(545,544)"
<SHARES-REINVESTED> "159,909"
<NET-CHANGE-IN-ASSETS> "(488,125)"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> "181,074"
<OVERDISTRIB-NII-PRIOR> "(10,481)"
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "273,582"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "490,985"
<AVERAGE-NET-ASSETS> "78,814,106"
<PER-SHARE-NAV-BEGIN> 10.270
<PER-SHARE-NII> 0.280
<PER-SHARE-GAIN-APPREC> (0.190)
<PER-SHARE-DIVIDEND> (0.280)
<PER-SHARE-DISTRIBUTIONS> (0.030)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.050
<EXPENSE-RATIO> 0.96
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 04
<NAME> Hibernia U.S. Government Income Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "83,383,196"
<INVESTMENTS-AT-VALUE> "84,042,171"
<RECEIVABLES> "832,011"
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> "84,874,182"
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> "458,391"
<TOTAL-LIABILITIES> "458,391"
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<PAID-IN-CAPITAL-COMMON> "86,963,942"
<SHARES-COMMON-STOCK> "8,330,621"
<SHARES-COMMON-PRIOR> "8,085,229"
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<ACCUMULATED-NET-GAINS> "(3,260,610)"
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<ACCUM-APPREC-OR-DEPREC> "658,975"
<NET-ASSETS> "84,415,791"
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<INTEREST-INCOME> "2,594,946"
<OTHER-INCOME> 0
<EXPENSES-NET> "(284,658)"
<NET-INVESTMENT-INCOME> "2,310,288"
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<APPREC-INCREASE-CURRENT> "(1,773,287)"
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<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(2,283,256)"
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<NUMBER-OF-SHARES-SOLD> "933,279"
<NUMBER-OF-SHARES-REDEEMED> "(753,007)"
<SHARES-REINVESTED> "65,120"
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<GROSS-EXPENSE> "377,983"
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<PER-SHARE-NAV-BEGIN> 10.330
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<PER-SHARE-GAIN-APPREC> (0.200)
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<PER-SHARE-DISTRIBUTIONS> 0.000
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<PER-SHARE-NAV-END> 10.130
<EXPENSE-RATIO> 0.69
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000831809
<NAME> Hibernia Funds
<SERIES>
<NUMBER> 06
<NAME> Hibernia U.S. Treasury Money Market Fund
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Feb-28-1999
<INVESTMENTS-AT-COST> "219,737,716"
<INVESTMENTS-AT-VALUE> "219,737,716"
<RECEIVABLES> "975,623"
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<TOTAL-ASSETS> "224,768,657"
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<OTHER-ITEMS-LIABILITIES> "841,340"
<TOTAL-LIABILITIES> "841,340"
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> "223,927,317"
<SHARES-COMMON-STOCK> "223,927,317"
<SHARES-COMMON-PRIOR> "175,132,920"
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<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> "223,927,317"
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> "5,596,673"
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<EXPENSES-NET> "(703,884)"
<NET-INVESTMENT-INCOME> "4,892,789"
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<NET-CHANGE-FROM-OPS> "4,892,789"
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> "(4,892,789)"
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> "450,545,728"
<NUMBER-OF-SHARES-REDEEMED> "(403,423,921)"
<SHARES-REINVESTED> "1,672,590"
<NET-CHANGE-IN-ASSETS> "48,794,397"
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> "461,489"
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> "703,884"
<AVERAGE-NET-ASSETS> "232,656,664"
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.020
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.020)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.61
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
