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<PAGE> PAGE 12
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<PAGE> PAGE 18
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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<PAGE> PAGE 30
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<PAGE> PAGE 31
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<PAGE> PAGE 32
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<PAGE> PAGE 33
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<PAGE> PAGE 39
048 F020700 0.000
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<PAGE> PAGE 40
070 E010700 Y
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<PAGE> PAGE 41
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<PAGE> PAGE 42
008 A000801 BLACKROCK ADVISOR, INC.
008 B000801 A
008 C000801 801-47710
008 D010801 NEW YORK
008 D020801 NY
008 D030801 10154
008 A000802 BLACKROCK INTERNATIONAL LIMITED
008 B000802 S
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008 D060802 EH23AH
015 A000801 PFPC TRUST COMPANY
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<PAGE> PAGE 43
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<PAGE> PAGE 44
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<PAGE> PAGE 45
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<PAGE> PAGE 46
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008 A000901 BLACKROCK ADVISOR, INC.
008 B000901 A
008 C000901 801-47710
008 D010901 NEW YORK
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008 D030901 10154
008 A000902 BLACKROCK INSTITUTIONAL MANAGEMENT CORP.
<PAGE> PAGE 47
008 B000902 S
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008 D010902 WILMINGTON
008 D020902 DE
008 D030902 19809
015 A000901 PFPC TRUST COMPANY
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<PAGE> PAGE 48
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<PAGE> PAGE 49
063 A000900 57
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<PAGE> PAGE 50
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<PAGE> PAGE 51
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008 A001001 BLACKROCK ADVISOR, INC.
008 B001001 A
008 C001001 801-47710
008 D011001 NEW YORK
008 D021001 NY
008 D031001 10154
008 A001002 BLACKROCK FINANCIAL MANAGEMENT, INC.
008 B001002 S
008 C001002 801-48433
008 D011002 NEW YORK
008 D021002 NY
008 D031002 10154
015 A001001 PFPC TRUST COMPANY
015 B001001 C
015 C011001 PHILADELPHIA
015 C021001 PA
015 C031001 19103
015 E031001 X
024 001000 N
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<PAGE> PAGE 52
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<PAGE> PAGE 53
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<PAGE> PAGE 54
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<PAGE> PAGE 55
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008 A001101 BLACKROCK ADVISOR, INC.
008 B001101 A
008 C001101 801-47710
008 D011101 NEW YORK
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008 D031101 10154
008 A001102 BLACKROCK FINANCIAL MANAGEMENT, INC.
008 B001102 S
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008 D031102 10154
015 A001101 PFPC TRUST COMPANY
015 B001101 C
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<PAGE> PAGE 56
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<PAGE> PAGE 57
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<PAGE> PAGE 58
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<PAGE> PAGE 59
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<PAGE> PAGE 60
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<PAGE> PAGE 61
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<PAGE> PAGE 62
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<PAGE> PAGE 63
070 I011200 N
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<PAGE> PAGE 64
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<PAGE> PAGE 65
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<PAGE> PAGE 66
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<PAGE> PAGE 67
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<PAGE> PAGE 68
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<PAGE> PAGE 69
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<PAGE> PAGE 70
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<PAGE> PAGE 71
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<PAGE> PAGE 72
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<PAGE> PAGE 73
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<PAGE> PAGE 74
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008 A001501 BLACKROCK ADVISOR, INC.
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<PAGE> PAGE 75
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<PAGE> PAGE 76
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<PAGE> PAGE 77
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<PAGE> PAGE 78
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<PAGE> PAGE 79
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<PAGE> PAGE 80
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<PAGE> PAGE 81
070 J011600 Y
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<PAGE> PAGE 82
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008 B001701 A
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008 A001702 BLACKROCK INSTITUTIONAL MANAGEMENT CORP.
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008 D011702 WILMINGTON
<PAGE> PAGE 83
008 D021702 DE
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015 A001701 PFPC TRUST COMPANY
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<PAGE> PAGE 84
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<PAGE> PAGE 85
068 B001700 N
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070 F011700 N
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070 H011700 N
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<PAGE> PAGE 86
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<PAGE> PAGE 87
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008 A001801 BLACKROCK ADVISOR, INC.
008 B001801 A
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<PAGE> PAGE 88
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<PAGE> PAGE 89
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<PAGE> PAGE 90
070 A021800 Y
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<PAGE> PAGE 91
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<PAGE> PAGE 92
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<PAGE> PAGE 93
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<PAGE> PAGE 94
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<PAGE> PAGE 95
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<PAGE> PAGE 96
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<PAGE> PAGE 97
008 C002001 801-47710
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<PAGE> PAGE 98
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<PAGE> PAGE 99
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<PAGE> PAGE 100
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<PAGE> PAGE 101
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<PAGE> PAGE 102
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<PAGE> PAGE 103
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<PAGE> PAGE 104
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<PAGE> PAGE 105
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<PAGE> PAGE 106
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<PAGE> PAGE 107
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<PAGE> PAGE 108
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<PAGE> PAGE 109
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<PAGE> PAGE 110
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<PAGE> PAGE 111
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<PAGE> PAGE 112
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<PAGE> PAGE 113
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<PAGE> PAGE 114
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<PAGE> PAGE 115
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<PAGE> PAGE 118
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<PAGE> PAGE 120
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<PAGE> PAGE 121
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<PAGE> PAGE 122
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<PAGE> PAGE 123
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<PAGE> PAGE 124
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<PAGE> PAGE 125
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<PAGE> PAGE 126
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<PAGE> PAGE 127
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<PAGE> PAGE 128
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<PAGE> PAGE 129
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<PAGE> PAGE 130
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<PAGE> PAGE 131
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<PAGE> PAGE 132
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<PAGE> PAGE 133
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<PAGE> PAGE 134
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<PAGE> PAGE 135
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<PAGE> PAGE 136
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<PAGE> PAGE 137
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<PAGE> PAGE 138
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<PAGE> PAGE 159
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<PAGE> PAGE 160
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<PAGE> PAGE 161
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<PAGE> PAGE 162
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<PAGE> PAGE 163
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<PAGE> PAGE 164
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<PAGE> PAGE 165
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<PAGE> PAGE 166
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<PAGE> PAGE 167
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<PAGE> PAGE 168
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<PAGE> PAGE 169
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<PAGE> PAGE 170
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<PAGE> PAGE 171
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<PAGE> PAGE 172
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<PAGE> PAGE 173
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<PAGE> PAGE 174
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<PAGE> PAGE 175
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<PAGE> PAGE 176
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<PAGE> PAGE 177
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<PAGE> PAGE 178
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<PAGE> PAGE 179
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<PAGE> PAGE 180
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<PAGE> PAGE 181
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<PAGE> PAGE 182
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SIGNATURE MARY JANE MALONEY
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> BLACKROCK FUNDS
<SERIES>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NUMBER> 063
<NAME> BALANCED PORTFOLIO - INVESTOR A CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NAME> BALANCED PORTFOLIO - INVESTOR B CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 071
<NAME> TAX-FREE INCOME - INSTITUTIONAL CLASS
<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 072
<NAME> TAX-FREE INCOME - SERVICE CLASS
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 073
<NAME> TAX-FREE INCOME - INVESTOR A CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NUMBER> 074
<NAME> TAX-FREE INCOME - INVESTOR B CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NAME> TAX-FREE INCOME - INVESTOR C CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NAME> INDEX EQUITY PORTFOLIO - INVESTOR B CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NAME> INDEX EQUITY PORTFOLIO - INVESTOR C CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 135
<NAME> SMALL CAP VALUE EQUITY PORTFOLIO - INVESTOR C CLASS
<S> <C>
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<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 663040926
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<NET-INVESTMENT-INCOME> 3129957
<REALIZED-GAINS-CURRENT> 10153548
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<NUMBER-OF-SHARES-SOLD> 17705998
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<PER-SHARE-NAV-END> 13.32
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[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> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 141
<NAME> INTERMEDIATE GOVERNMENT BOND - INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
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<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (289851)
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<DIVIDEND-INCOME> 0
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<EXPENSES-NET> 2323302
<NET-INVESTMENT-INCOME> 13056904
<REALIZED-GAINS-CURRENT> 323881
<APPREC-INCREASE-CURRENT> (12039634)
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<PER-SHARE-NAV-BEGIN> 10.48
<PER-SHARE-NII> .29
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<PER-SHARE-NAV-END> 10.14
<EXPENSE-RATIO> .60
[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> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 142
<NAME> INTERMEDIATE GOVERNMENT BOND - SERVICE CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 488940762
<INVESTMENTS-AT-VALUE> 488671126
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 494627130
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<OVERDISTRIBUTION-NII> (204052)
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<NET-CHANGE-IN-ASSETS> (25994389)
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<PER-SHARE-NAV-END> 10.14
<EXPENSE-RATIO> .90
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 143
<NAME> INTERMEDIATE GOVERNMENT BOND - INVESTOR A CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 488940762
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<RECEIVABLES> 5940639
<ASSETS-OTHER> 15365
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 494627130
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<SENIOR-LONG-TERM-DEBT> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 454023910
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 15380206
<OTHER-INCOME> 0
<EXPENSES-NET> 2323302
<NET-INVESTMENT-INCOME> 13056904
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<ACCUMULATED-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 10.48
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.14
<EXPENSE-RATIO> 1.07
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 144
<NAME> INTERMEDIATE GOVERNMENT BOND - INVESTOR B CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 488940762
<INVESTMENTS-AT-VALUE> 488671126
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<TOTAL-ASSETS> 494627130
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 40603220
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<ACCUM-APPREC-OR-DEPREC> (289851)
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<DIVIDEND-INCOME> 0
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<OTHER-INCOME> 0
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<NET-INVESTMENT-INCOME> 13056904
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<PER-SHARE-NAV-BEGIN> 10.48
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<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 10.14
<EXPENSE-RATIO> 1.82
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 145
<NAME> INTERMEDIATE GOVERNMENT BOND - INVESTOR C CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
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<PER-SHARE-NAV-END> 10.14
<EXPENSE-RATIO> 1.82
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 151
<NAME> OHIO TAX-FREE INCOME PORTFOLIO-INSTITUTIONAL CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 108710870
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<NET-CHANGE-IN-ASSETS> (295453)
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<PER-SHARE-NAV-END> 10.72
<EXPENSE-RATIO> .60
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 152
<NAME> OHIO TAX-FREE INCOME PORTFOLIO-SERVICE CLASS
<S> <C>
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[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 153
<NAME> OHIO TAX-FREE INCOME PORTFOLIO-INVESTOR A CLASS
<S> <C>
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NAME> PENNSYLVANIA TAX-FREE INCOME - INSTITUTIONAL CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
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<NAME> PENNSYLVANIA TAX-FREE INCOME - SERVICE CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NAME> PENNSYLVANIA TAX-FREE INCOME - INVESTOR B CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<NAME> BLACKROCK FUNDS
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<NAME> PENNSYLVANIA TAX-FREE INCOME - INVESTOR C CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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<NAME> NORTH CAROLINA MUNICIPAL MONEY MARKET-INSTITUTIONAL CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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<NAME> INTERMEDIATE BOND PORTFOLIO-INVESTOR A CLASS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<CIK> 0000844779
<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<NAME> BLACKROCK FUNDS
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<PER-SHARE-DIVIDEND> (.04)
<PER-SHARE-DISTRIBUTIONS> (.61)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.70
<EXPENSE-RATIO> 1.23
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 204
<NAME> SELECT EQUITY PORTFOLIO - INVESTOR B CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 1111976838
<INVESTMENTS-AT-VALUE> 1865635646
<RECEIVABLES> 15981371
<ASSETS-OTHER> 12691
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1881629708
<PAYABLE-FOR-SECURITIES> 9903591
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2378306
<TOTAL-LIABILITIES> 12281897
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1041981180
<SHARES-COMMON-STOCK> 90292866
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 74086636
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 753279995
<NET-ASSETS> 1869347811
<DIVIDEND-INCOME> 12848733
<INTEREST-INCOME> 619841
<OTHER-INCOME> 0
<EXPENSES-NET> (7914328)
<NET-INVESTMENT-INCOME> 5554246
<REALIZED-GAINS-CURRENT> 80695312
<APPREC-INCREASE-CURRENT> 314847202
<NET-CHANGE-FROM-OPS> 401096760
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5912799)
<DISTRIBUTIONS-OF-GAINS> (55642569)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5702841
<NUMBER-OF-SHARES-REDEEMED> (10523832)
<SHARES-REINVESTED> 2932901
<NET-CHANGE-IN-ASSETS> 301781760
<ACCUMULATED-NII-PRIOR> 140691
<ACCUMULATED-GAINS-PRIOR> 49251755
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4672452
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7914328
<AVERAGE-NET-ASSETS> 1774115367
<PER-SHARE-NAV-BEGIN> 16.85
<PER-SHARE-NII> (.04)
<PER-SHARE-GAIN-APPREC> 4.25
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.61)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.45
<EXPENSE-RATIO> 2.03
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000844779
<NAME> BLACKROCK FUNDS
<SERIES>
<NUMBER> 205
<NAME> SELECT EQUITY PORTFOLIO - INVESTOR C CLASS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> SEP-30-1999
<PERIOD-END> MAR-31-1999
<INVESTMENTS-AT-COST> 1111976838
<INVESTMENTS-AT-VALUE> 1865635646
<RECEIVABLES> 15981371
<ASSETS-OTHER> 12691
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 1881629708
<PAYABLE-FOR-SECURITIES> 9903591
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2378306
<TOTAL-LIABILITIES> 12281897
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 1041981180
<SHARES-COMMON-STOCK> 90292866
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 74086636
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 753279995
<NET-ASSETS> 1869347811
<DIVIDEND-INCOME> 12848733
<INTEREST-INCOME> 619841
<OTHER-INCOME> 0
<EXPENSES-NET> (7914328)
<NET-INVESTMENT-INCOME> 5554246
<REALIZED-GAINS-CURRENT> 80695312
<APPREC-INCREASE-CURRENT> 314847202
<NET-CHANGE-FROM-OPS> 401096760
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (5912799)
<DISTRIBUTIONS-OF-GAINS> (55642569)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 5702841
<NUMBER-OF-SHARES-REDEEMED> (10523832)
<SHARES-REINVESTED> 2932901
<NET-CHANGE-IN-ASSETS> 301781760
<ACCUMULATED-NII-PRIOR> 140691
<ACCUMULATED-GAINS-PRIOR> 49251755
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 4672452
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 7914328
<AVERAGE-NET-ASSETS> 1774115367
<PER-SHARE-NAV-BEGIN> 16.85
<PER-SHARE-NII> (.02)
<PER-SHARE-GAIN-APPREC> 4.23
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (.61)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 20.45
<EXPENSE-RATIO> 2.02
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0
</TABLE>
