<PAGE> PAGE 1
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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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058 A000400 N
059 000400 Y
060 A000400 Y
060 B000400 Y
061 000400 1000
062 A000400 Y
062 B000400 0.0
062 C000400 0.0
062 D000400 13.8
062 E000400 0.0
062 F000400 0.0
062 G000400 0.0
062 H000400 0.0
062 I000400 0.0
062 J000400 0.0
062 K000400 0.0
062 L000400 0.0
062 M000400 28.6
062 N000400 49.0
062 O000400 0.0
062 P000400 5.4
062 Q000400 2.9
062 R000400 0.0
063 A000400 0
063 B000400 7.2
064 A000400 N
064 B000400 N
066 A000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 N
070 B020400 N
070 C010400 Y
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
<PAGE> PAGE 22
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
071 A000400 18745
071 B000400 20552
071 C000400 78519
071 D000400 24
072 A000400 12
072 B000400 5249
072 C000400 0
072 D000400 0
072 E000400 0
072 F000400 378
072 G000400 94
072 H000400 0
072 I000400 42
072 J000400 21
072 K000400 0
072 L000400 4
072 M000400 5
072 N000400 18
072 O000400 0
072 P000400 0
072 Q000400 47
072 R000400 15
072 S000400 6
072 T000400 175
072 U000400 0
072 V000400 0
072 W000400 9
072 X000400 814
072 Y000400 225
072 Z000400 4660
072AA000400 91
<PAGE> PAGE 23
072BB000400 0
072CC010400 0
072CC020400 4453
072DD010400 4673
072DD020400 0
072EE000400 0
073 A010400 0.5700
073 A020400 0.0000
073 B000400 0.0000
073 C000400 0.0000
074 A000400 0
074 B000400 11610
074 C000400 0
074 D000400 72389
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 784
074 M000400 0
074 N000400 84783
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 541
074 S000400 0
074 T000400 84242
074 U010400 8587
074 U020400 0
074 V010400 9.81
074 V020400 0.00
074 W000400 0.0000
074 X000400 392
074 Y000400 0
075 A000400 0
075 B000400 83990
076 000400 0.00
024 000500 N
025 A000501 DELETE
025 D000501 0
025 D000502 0
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
<PAGE> PAGE 24
025 D000507 0
025 D000508 0
028 A010500 517
028 A020500 249
028 A030500 0
028 A040500 1148
028 B010500 797
028 B020500 250
028 B030500 0
028 B040500 722
028 C010500 507
028 C020500 253
028 C030500 0
028 C040500 213
028 D010500 6844
028 D020500 1
028 D030500 0
028 D040500 1979
028 E010500 4575
028 E020500 503
028 E030500 0
028 E040500 6589
028 F010500 278
028 F020500 258
028 F030500 0
028 F040500 956
028 G010500 13518
028 G020500 1514
028 G030500 0
028 G040500 11607
028 H000500 13460
029 000500 Y
030 A000500 0
030 B000500 3.00
030 C000500 0.25
031 A000500 0
031 B000500 0
032 000500 0
033 000500 0
034 000500 N
035 000500 0
036 B000500 0
037 000500 N
038 000500 0
039 000500 N
040 000500 Y
041 000500 Y
042 A000500 0
042 B000500 0
042 C000500 100
042 D000500 0
<PAGE> PAGE 25
042 E000500 0
042 F000500 0
042 G000500 0
042 H000500 0
043 000500 197
044 000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.700
048 A010500 0
048 A020500 0.000
048 B010500 0
048 B020500 0.000
048 C010500 0
048 C020500 0.000
048 D010500 0
048 D020500 0.000
048 E010500 0
048 E020500 0.000
048 F010500 0
048 F020500 0.000
048 G010500 0
048 G020500 0.000
048 H010500 0
048 H020500 0.000
048 I010500 0
048 I020500 0.000
048 J010500 0
048 J020500 0.000
048 K010500 0
048 K020500 0.000
049 000500 N
050 000500 N
051 000500 N
052 000500 N
053 A000500 Y
053 B000500 Y
053 C000500 N
058 A000500 N
059 000500 Y
060 A000500 Y
060 B000500 Y
061 000500 1000
062 A000500 Y
062 B000500 0.0
062 C000500 0.0
062 D000500 9.3
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
<PAGE> PAGE 26
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 35.3
062 N000500 17.7
062 O000500 6.5
062 P000500 30.9
062 Q000500 0.0
062 R000500 0.0
063 A000500 0
063 B000500 8.6
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
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
<PAGE> PAGE 27
070 P020500 N
070 Q010500 N
070 Q020500 N
070 R010500 N
070 R020500 N
071 A000500 15275
071 B000500 15427
071 C000500 75864
071 D000500 20
072 A000500 12
072 B000500 5272
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 553
072 G000500 88
072 H000500 0
072 I000500 51
072 J000500 20
072 K000500 0
072 L000500 8
072 M000500 4
072 N000500 10
072 O000500 0
072 P000500 0
072 Q000500 50
072 R000500 15
072 S000500 7
072 T000500 197
072 U000500 0
072 V000500 0
072 W000500 15
072 X000500 1018
072 Y000500 237
072 Z000500 4491
072AA000500 15
072BB000500 0
072CC010500 0
072CC020500 4532
072DD010500 4425
072DD020500 0
072EE000500 198
073 A010500 0.5700
073 A020500 0.0000
073 B000500 0.0300
073 C000500 0.0000
074 A000500 0
074 B000500 7405
074 C000500 0
074 D000500 72234
074 E000500 0
<PAGE> PAGE 28
074 F000500 0
074 G000500 0
074 H000500 0
074 I000500 0
074 J000500 0
074 K000500 0
074 L000500 1208
074 M000500 0
074 N000500 80847
074 O000500 0
074 P000500 0
074 Q000500 0
074 R010500 0
074 R020500 0
074 R030500 0
074 R040500 934
074 S000500 0
074 T000500 79913
074 U010500 8259
074 U020500 0
074 V010500 9.68
074 V020500 0.00
074 W000500 0.0000
074 X000500 46
074 Y000500 0
075 A000500 0
075 B000500 78919
076 000500 0.00
024 000600 N
025 D000601 0
025 D000602 0
025 D000603 0
025 D000604 0
025 D000605 0
025 D000606 0
025 D000607 0
025 D000608 0
028 A010600 79454
028 A020600 347
028 A030600 0
028 A040600 69647
028 B010600 59237
028 B020600 372
028 B030600 0
028 B040600 56345
028 C010600 43751
028 C020600 389
028 C030600 0
028 C040600 44721
028 D010600 52176
028 D020600 386
<PAGE> PAGE 29
028 D030600 0
028 D040600 62078
028 E010600 41004
028 E020600 303
028 E030600 0
028 E040600 43106
028 F010600 74903
028 F020600 592
028 F030600 0
028 F040600 87151
028 G010600 350525
028 G020600 2389
028 G030600 0
028 G040600 363048
028 H000600 0
029 000600 N
030 A000600 0
030 B000600 0.00
030 C000600 0.00
031 A000600 0
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
042 A000600 0
042 B000600 0
042 C000600 0
042 D000600 0
042 E000600 0
042 F000600 0
042 G000600 0
042 H000600 0
043 000600 0
044 000600 0
045 000600 Y
046 000600 N
047 000600 Y
048 000600 0.400
048 A010600 0
048 A020600 0.000
048 B010600 0
048 B020600 0.000
048 C010600 0
048 C020600 0.000
<PAGE> PAGE 30
048 D010600 0
048 D020600 0.000
048 E010600 0
048 E020600 0.000
048 F010600 0
048 F020600 0.000
048 G010600 0
048 G020600 0.000
048 H010600 0
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
062 B000600 51.2
062 C000600 0.0
062 D000600 45.7
062 E000600 0.0
062 F000600 0.0
062 G000600 0.0
062 H000600 0.0
062 I000600 0.0
062 J000600 0.0
062 K000600 0.0
062 L000600 0.0
062 M000600 0.0
062 N000600 0.0
062 O000600 0.0
062 P000600 0.0
062 Q000600 0.0
062 R000600 3.3
063 A000600 22
063 B000600 0.0
064 A000600 N
064 B000600 N
066 A000600 N
067 000600 N
068 A000600 N
<PAGE> PAGE 31
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 Y
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
071 A000600 0
071 B000600 0
071 C000600 0
071 D000600 0
072 A000600 12
072 B000600 11128
072 C000600 0
072 D000600 0
072 E000600 0
072 F000600 935
072 G000600 260
072 H000600 0
072 I000600 79
<PAGE> PAGE 32
072 J000600 52
072 K000600 0
072 L000600 5
072 M000600 8
072 N000600 27
072 O000600 0
072 P000600 0
072 Q000600 62
072 R000600 15
072 S000600 6
072 T000600 0
072 U000600 0
072 V000600 0
072 W000600 17
072 X000600 1466
072 Y000600 0
072 Z000600 9662
072AA000600 0
072BB000600 0
072CC010600 0
072CC020600 0
072DD010600 9662
072DD020600 0
072EE000600 0
073 A010600 0.0400
073 A020600 0.0000
073 B000600 0.0000
073 C000600 0.0000
074 A000600 0
074 B000600 97796
074 C000600 116411
074 D000600 0
074 E000600 0
074 F000600 0
074 G000600 0
074 H000600 0
074 I000600 0
074 J000600 0
074 K000600 0
074 L000600 480
074 M000600 0
074 N000600 214687
074 O000600 0
074 P000600 0
074 Q000600 0
074 R010600 0
074 R020600 0
074 R030600 0
074 R040600 894
074 S000600 0
074 T000600 213793
<PAGE> PAGE 33
074 U010600 213793
074 U020600 0
074 V010600 1.00
074 V020600 0.00
074 W000600 1.0001
074 X000600 2607
074 Y000600 0
075 A000600 233664
075 B000600 0
076 000600 0.00
024 000700 Y
025 A000701 PAINEWEBBER GROUP, INC.
025 C000701 E
025 D000701 200
025 D000702 0
025 D000703 0
025 D000704 0
025 D000705 0
025 D000706 0
025 D000707 0
025 D000708 0
028 A010700 291
028 A020700 0
028 A030700 0
028 A040700 204
028 B010700 540
028 B020700 0
028 B030700 0
028 B040700 492
028 C010700 768
028 C020700 0
028 C030700 0
028 C040700 88
028 D010700 528
028 D020700 0
028 D030700 0
028 D040700 272
028 E010700 565
028 E020700 0
028 E030700 0
028 E040700 1339
028 F010700 329
028 F020700 0
028 F030700 0
028 F040700 237
028 G010700 3021
028 G020700 0
028 G030700 0
028 G040700 2632
028 H000700 2826
029 000700 Y
<PAGE> PAGE 34
030 A000700 68
030 B000700 4.50
030 C000700 0.25
031 A000700 0
031 B000700 0
032 000700 68
033 000700 0
034 000700 Y
035 000700 3
036 A000700 N
036 B000700 0
037 000700 N
038 000700 0
039 000700 N
040 000700 Y
041 000700 Y
042 A000700 0
042 B000700 0
042 C000700 100
042 D000700 0
042 E000700 0
042 F000700 0
042 G000700 0
042 H000700 0
043 000700 53
044 000700 0
045 000700 Y
046 000700 N
047 000700 Y
048 000700 0.750
048 A010700 0
048 A020700 0.000
048 B010700 0
048 B020700 0.000
048 C010700 0
048 C020700 0.000
048 D010700 0
048 D020700 0.000
048 E010700 0
048 E020700 0.000
048 F010700 0
048 F020700 0.000
048 G010700 0
048 G020700 0.000
048 H010700 0
048 H020700 0.000
048 I010700 0
048 I020700 0.000
048 J010700 0
048 J020700 0.000
048 K010700 0
<PAGE> PAGE 35
048 K020700 0.000
049 000700 N
050 000700 N
051 000700 N
052 000700 N
053 A000700 Y
053 B000700 Y
058 A000700 N
059 000700 Y
060 A000700 Y
060 B000700 Y
061 000700 1000
062 A000700 N
062 B000700 0.0
062 C000700 0.0
062 D000700 0.0
062 E000700 0.0
062 F000700 0.0
062 G000700 0.0
062 H000700 0.0
062 I000700 0.0
062 J000700 0.0
062 K000700 0.0
062 L000700 0.0
062 M000700 0.0
062 N000700 0.0
062 O000700 0.0
062 P000700 0.0
062 Q000700 0.0
062 R000700 0.0
063 A000700 0
063 B000700 0.0
066 A000700 Y
066 B000700 N
066 C000700 N
066 D000700 N
066 E000700 N
066 F000700 N
066 G000700 Y
067 000700 N
068 A000700 N
068 B000700 N
069 000700 N
070 A010700 Y
070 A020700 Y
070 B010700 Y
070 B020700 N
070 C010700 Y
070 C020700 N
070 D010700 N
070 D020700 N
<PAGE> PAGE 36
070 E010700 N
070 E020700 N
070 F010700 Y
070 F020700 N
070 G010700 Y
070 G020700 N
070 H010700 Y
070 H020700 N
070 I010700 N
070 I020700 N
070 J010700 Y
070 J020700 N
070 K010700 Y
070 K020700 Y
070 L010700 Y
070 L020700 N
070 M010700 N
070 M020700 N
070 N010700 Y
070 N020700 N
070 O010700 Y
070 O020700 N
070 P010700 Y
070 P020700 N
070 Q010700 N
070 Q020700 N
070 R010700 Y
070 R020700 N
071 A000700 10353
071 B000700 9359
071 C000700 16883
071 D000700 55
072 A000700 12
072 B000700 67
072 C000700 175
072 D000700 0
072 E000700 0
072 F000700 138
072 G000700 50
072 H000700 0
072 I000700 67
072 J000700 17
072 K000700 0
072 L000700 11
072 M000700 1
072 N000700 49
072 O000700 0
072 P000700 0
072 Q000700 55
072 R000700 9
072 S000700 6
<PAGE> PAGE 37
072 T000700 56
072 U000700 0
072 V000700 0
072 W000700 3
072 X000700 462
072 Y000700 128
072 Z000700 -92
072AA000700 0
072BB000700 931
072CC010700 6497
072CC020700 0
072DD010700 0
072DD020700 0
072EE000700 0
073 A010700 0.0000
073 A020700 0.0000
073 B000700 0.0000
073 C000700 0.0000
074 A000700 0
074 B000700 2008
074 C000700 0
074 D000700 0
074 E000700 0
074 F000700 18436
074 G000700 0
074 H000700 0
074 I000700 0
074 J000700 0
074 K000700 0
074 L000700 18
074 M000700 0
074 N000700 20462
074 O000700 0
074 P000700 0
074 Q000700 0
074 R010700 0
074 R020700 0
074 R030700 0
074 R040700 188
074 S000700 0
074 T000700 20274
074 U010700 1611
074 U020700 176
074 V010700 11.35
074 V020700 11.29
074 W000700 0.0000
074 X000700 202
074 Y000700 0
075 A000700 0
075 B000700 18413
076 000700 0.00
<PAGE> PAGE 38
SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
ITEM 77Q
Hibernia Mutual Funds
(formerly HNB Funds Group)
Amendment #1
to the By-Laws
(effective September 16, 1998)
Delete Section 1, "Certificates" of Article VI, "Shares" in its
entirety and replace with the following:
Section 1. Certificates. As of September 16, 1998, the
Trust will not issue share certificates.
Delete Section 4, "Lost, Destroyed or Mutilated Certificates" of
Article VI, "Shares" in its entirety.
Delete Section 5, "Transfer Agent and Registrar: Regulations"
of Article VI, "Shares" in its entirety and replace with the
following:
Section 5. Transfer Agent and Registrar: Regulations. The
Trustees shall have power and authority to make all such rules and
regulations as they may deem expedient concerning the issuance,
transfer and registration of shares and may appoint a Transfer Agent
and/or Registrar for shares of each Series or Class.
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
<S> <C>
<PERIOD-TYPE> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 237,760,262
<INVESTMENTS-AT-VALUE> 371,747,001
<RECEIVABLES> 587,901
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 276,144
<TOTAL-ASSETS> 372,611,046
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,300,472
<TOTAL-LIABILITIES> 1,300,472
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 196,341,125
<SHARES-COMMON-STOCK> 13,535,381
<SHARES-COMMON-PRIOR> 13,236,570
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 40,982,710
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 133,986,739
<NET-ASSETS> 352,875,422
<DIVIDEND-INCOME> 4,211,097
<INTEREST-INCOME> 251,931
<OTHER-INCOME> 0
<EXPENSES-NET> (4,460,103)
<NET-INVESTMENT-INCOME> 2,925
<REALIZED-GAINS-CURRENT> 41,577,429
<APPREC-INCREASE-CURRENT> 65,911,793
<NET-CHANGE-FROM-OPS> 107,492,147
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (35,622)
<DISTRIBUTIONS-OF-GAINS> (35,588,767)
<DISTRIBUTIONS-OTHER> (229,738)
<NUMBER-OF-SHARES-SOLD> 1,456,003
<NUMBER-OF-SHARES-REDEEMED> (2,398,866)
<SHARES-REINVESTED> 1,241,674
<NET-CHANGE-IN-ASSETS> 80,693,085
<ACCUMULATED-NII-PRIOR> 22,270
<ACCUMULATED-GAINS-PRIOR> 36,851,536
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,663,596
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,460,103
<AVERAGE-NET-ASSETS> 339,708,100
<PER-SHARE-NAV-BEGIN> 21.140
<PER-SHARE-NII> 0.010
<PER-SHARE-GAIN-APPREC> 7.730
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (2.790)
<RETURNS-OF-CAPITAL> (0.020)
<PER-SHARE-NAV-END> 26.070
<EXPENSE-RATIO> 1.22
[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> 012
<NAME> Hibernia Capital Appreciation Fund--Class B
<S> <C>
<PERIOD-TYPE> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 237,760,262
<INVESTMENTS-AT-VALUE> 371,747,001
<RECEIVABLES> 587,901
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 276,144
<TOTAL-ASSETS> 372,611,046
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,300,472
<TOTAL-LIABILITIES> 1,300,472
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 196,341,125
<SHARES-COMMON-STOCK> 717,417
<SHARES-COMMON-PRIOR> 516,474
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 40,982,710
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 133,986,739
<NET-ASSETS> 18,435,152
<DIVIDEND-INCOME> 4,211,097
<INTEREST-INCOME> 251,931
<OTHER-INCOME> 0
<EXPENSES-NET> (4,460,103)
<NET-INVESTMENT-INCOME> 2,925
<REALIZED-GAINS-CURRENT> 41,577,429
<APPREC-INCREASE-CURRENT> 65,911,793
<NET-CHANGE-FROM-OPS> 107,492,147
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> (1,617,323)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 232,004
<NUMBER-OF-SHARES-REDEEMED> (95,160)
<SHARES-REINVESTED> 64,099
<NET-CHANGE-IN-ASSETS> 80,693,085
<ACCUMULATED-NII-PRIOR> 22,270
<ACCUMULATED-GAINS-PRIOR> 36,851,536
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 2,663,596
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 4,460,103
<AVERAGE-NET-ASSETS> 15,437,951
<PER-SHARE-NAV-BEGIN> 20.990
<PER-SHARE-NII> (0.160)
<PER-SHARE-GAIN-APPREC> 7.660
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> (2.790)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 25.700
<EXPENSE-RATIO> 1.98
[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> 021
<NAME> Hibernia Cash Reserve Fund--Class A
<S> <C>
<PERIOD-TYPE> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 157,773,670
<INVESTMENTS-AT-VALUE> 157,773,670
<RECEIVABLES> 29,561
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 76,315
<TOTAL-ASSETS> 157,879,546
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 703,611
<TOTAL-LIABILITIES> 703,611
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 157,175,935
<SHARES-COMMON-STOCK> 157,099,163
<SHARES-COMMON-PRIOR> 149,219,349
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 157,099,163
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8,113,247
<OTHER-INCOME> 0
<EXPENSES-NET> (1,469,217)
<NET-INVESTMENT-INCOME> 6,644,030
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6,644,030
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (6,638,815)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 447,343,384
<NUMBER-OF-SHARES-REDEEMED> (441,325,587)
<SHARES-REINVESTED> 1,862,117
<NET-CHANGE-IN-ASSETS> 7,956,586
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 639,664
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,469,217
<AVERAGE-NET-ASSETS> 159,760,179
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.040
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.040)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.92
[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> 022
<NAME> Hibernia Cash Reserve Fund--Class B
<S> <C>
<PERIOD-TYPE> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 157,773,670
<INVESTMENTS-AT-VALUE> 157,773,670
<RECEIVABLES> 29,561
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 76,315
<TOTAL-ASSETS> 157,879,546
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 703,611
<TOTAL-LIABILITIES> 703,611
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 157,175,935
<SHARES-COMMON-STOCK> 76,772
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 76,772
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8,113,247
<OTHER-INCOME> 0
<EXPENSES-NET> (1,469,217)
<NET-INVESTMENT-INCOME> 6,644,030
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 6,644,030
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5,215)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 269,550
<NUMBER-OF-SHARES-REDEEMED> (197,748)
<SHARES-REINVESTED> 4,870
<NET-CHANGE-IN-ASSETS> 7,956,586
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 639,664
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,469,217
<AVERAGE-NET-ASSETS> 155,686
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.030
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.030)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 1.67
[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> 03
<NAME> Hibernia Louisiana Municipal Income Fund
<S> <C>
<PERIOD-TYPE> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 94,417,741
<INVESTMENTS-AT-VALUE> 95,838,681
<RECEIVABLES> 1,271,292
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 97,109,973
<PAYABLE-FOR-SECURITIES> 2,486,548
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,921,525
<TOTAL-LIABILITIES> 4,408,073
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 90,820,356
<SHARES-COMMON-STOCK> 8,545,050
<SHARES-COMMON-PRIOR> 8,604,069
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (59,542)
<ACCUMULATED-NET-GAINS> 520,146
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 1,420,940
<NET-ASSETS> 92,701,900
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,303,154
<OTHER-INCOME> 0
<EXPENSES-NET> (640,680)
<NET-INVESTMENT-INCOME> 4,662,474
<REALIZED-GAINS-CURRENT> 520,146
<APPREC-INCREASE-CURRENT> (5,284,349)
<NET-CHANGE-FROM-OPS> (101,729)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,695,997)
<DISTRIBUTIONS-OF-GAINS> (638,525)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,064,927
<NUMBER-OF-SHARES-REDEEMED> (1,309,582)
<SHARES-REINVESTED> 185,636
<NET-CHANGE-IN-ASSETS> (6,009,358)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 629,833
<OVERDISTRIB-NII-PRIOR> (25,155)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 440,117
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 922,196
<AVERAGE-NET-ASSETS> 97,803,851
<PER-SHARE-NAV-BEGIN> 11.470
<PER-SHARE-NII> 0.540
<PER-SHARE-GAIN-APPREC> (0.540)
<PER-SHARE-DIVIDEND> (0.540)
<PER-SHARE-DISTRIBUTIONS> (0.080)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.850
<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
<S> <C>
<PERIOD-TYPE> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 17,078,613
<INVESTMENTS-AT-VALUE> 20,443,826
<RECEIVABLES> 18,378
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,462,204
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 188,350
<TOTAL-LIABILITIES> 188,350
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 17,839,315
<SHARES-COMMON-STOCK> 1,611,099
<SHARES-COMMON-PRIOR> 1,648,740
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (930,674)
<ACCUM-APPREC-OR-DEPREC> 3,365,213
<NET-ASSETS> 18,283,460
<DIVIDEND-INCOME> 175,293
<INTEREST-INCOME> 67,078
<OTHER-INCOME> 0
<EXPENSES-NET> (334,496)
<NET-INVESTMENT-INCOME> (92,125)
<REALIZED-GAINS-CURRENT> (930,674)
<APPREC-INCREASE-CURRENT> 6,496,547
<NET-CHANGE-FROM-OPS> 5,473,748
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 350,677
<NUMBER-OF-SHARES-REDEEMED> (388,318)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 6,285,477
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 138,101
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 462,405
<AVERAGE-NET-ASSETS> 17,034,174
<PER-SHARE-NAV-BEGIN> 8.140
<PER-SHARE-NII> (0.050)
<PER-SHARE-GAIN-APPREC> 3.260
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.350
<EXPENSE-RATIO> 1.76
[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> 072
<NAME> Hibernia Mid Cap Equity Fund--Class B
<S> <C>
<PERIOD-TYPE> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 17,078,613
<INVESTMENTS-AT-VALUE> 20,443,826
<RECEIVABLES> 18,378
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,462,204
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 188,350
<TOTAL-LIABILITIES> 188,350
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 17,839,315
<SHARES-COMMON-STOCK> 176,271
<SHARES-COMMON-PRIOR> 69,652
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (930,674)
<ACCUM-APPREC-OR-DEPREC> 3,365,213
<NET-ASSETS> 1,990,394
<DIVIDEND-INCOME> 175,293
<INTEREST-INCOME> 67,078
<OTHER-INCOME> 0
<EXPENSES-NET> (334,496)
<NET-INVESTMENT-INCOME> (92,125)
<REALIZED-GAINS-CURRENT> (930,674)
<APPREC-INCREASE-CURRENT> 6,496,547
<NET-CHANGE-FROM-OPS> 5,473,748
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 121,109
<NUMBER-OF-SHARES-REDEEMED> (14,490)
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 6,285,477
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 138,101
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 462,405
<AVERAGE-NET-ASSETS> 1,379,264
<PER-SHARE-NAV-BEGIN> 8.130
<PER-SHARE-NII> (0.130)
<PER-SHARE-GAIN-APPREC> 3.290
<PER-SHARE-DIVIDEND> 0.000
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 11.290
<EXPENSE-RATIO> 2.51
[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> 05
<NAME> Hibernia Total Return Bond Fund
<S> <C>
<PERIOD-TYPE> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 81,837,102
<INVESTMENTS-AT-VALUE> 79,638,516
<RECEIVABLES> 1,208,759
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 80,847,275
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 934,235
<TOTAL-LIABILITIES> 934,235
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 82,058,140
<SHARES-COMMON-STOCK> 8,259,032
<SHARES-COMMON-PRIOR> 7,787,517
<ACCUMULATED-NII-CURRENT> 54,812
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (1,326)
<ACCUM-APPREC-OR-DEPREC> (2,198,586)
<NET-ASSETS> 79,913,040
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,272,546
<OTHER-INCOME> 0
<EXPENSES-NET> (781,212)
<NET-INVESTMENT-INCOME> 4,491,334
<REALIZED-GAINS-CURRENT> 14,884
<APPREC-INCREASE-CURRENT> (4,531,688)
<NET-CHANGE-FROM-OPS> (25,470)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,425,381)
<DISTRIBUTIONS-OF-GAINS> (197,944)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,884,047
<NUMBER-OF-SHARES-REDEEMED> (1,725,600)
<SHARES-REINVESTED> 313,068
<NET-CHANGE-IN-ASSETS> (44,236)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 181,074
<OVERDISTRIB-NII-PRIOR> (10,481)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 552,433
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,017,969
<AVERAGE-NET-ASSETS> 78,918,949
<PER-SHARE-NAV-BEGIN> 10.270
<PER-SHARE-NII> 0.580
<PER-SHARE-GAIN-APPREC> (0.570)
<PER-SHARE-DIVIDEND> (0.570)
<PER-SHARE-DISTRIBUTIONS> (0.030)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.680
<EXPENSE-RATIO> 0.99
[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> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 214,207,458
<INVESTMENTS-AT-VALUE> 214,207,458
<RECEIVABLES> 479,679
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 214,687,137
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 894,067
<TOTAL-LIABILITIES> 894,067
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 213,793,070
<SHARES-COMMON-STOCK> 213,793,070
<SHARES-COMMON-PRIOR> 175,132,920
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 213,793,070
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 11,128,393
<OTHER-INCOME> 0
<EXPENSES-NET> (1,465,959)
<NET-INVESTMENT-INCOME> 9,662,434
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 9,662,434
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (8,578,035)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 801,070,866
<NUMBER-OF-SHARES-REDEEMED> (766,472,346)
<SHARES-REINVESTED> 4,061,630
<NET-CHANGE-IN-ASSETS> 38,660,150
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 934,658
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,465,959
<AVERAGE-NET-ASSETS> 233,664,489
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.040
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> (0.040)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.63
[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> 12-month
<FISCAL-YEAR-END> Aug-31-1999
<PERIOD-END> Aug-31-1999
<INVESTMENTS-AT-COST> 86,019,663
<INVESTMENTS-AT-VALUE> 83,998,544
<RECEIVABLES> 784,700
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 84,783,244
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 541,622
<TOTAL-LIABILITIES> 541,622
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 89,523,329
<SHARES-COMMON-STOCK> 8,586,814
<SHARES-COMMON-PRIOR> 8,085,229
<ACCUMULATED-NII-CURRENT> 13,484
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> (3,274,072)
<ACCUM-APPREC-OR-DEPREC> (2,021,119)
<NET-ASSETS> 84,241,622
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 5,248,689
<OTHER-INCOME> 0
<EXPENSES-NET> 588,286
<NET-INVESTMENT-INCOME> 4,660,403
<REALIZED-GAINS-CURRENT> 90,774
<APPREC-INCREASE-CURRENT> (4,453,381)
<NET-CHANGE-FROM-OPS> 297,796
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (4,673,434)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,742,267
<NUMBER-OF-SHARES-REDEEMED> (1,379,614)
<SHARES-REINVESTED> 138,932
<NET-CHANGE-IN-ASSETS> 706,421
<ACCUMULATED-NII-PRIOR> 26,452
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (3,364,419)
<GROSS-ADVISORY-FEES> 377,953
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 813,652
<AVERAGE-NET-ASSETS> 83,989,645
<PER-SHARE-NAV-BEGIN> 10.330
<PER-SHARE-NII> 0.570
<PER-SHARE-GAIN-APPREC> (0.520)
<PER-SHARE-DIVIDEND> (0.570)
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.810
<EXPENSE-RATIO> 0.70
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
