<PAGE> PAGE 1
000 B000000 09/30/99
000 C000000 0000862157
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 BT INSTITUTIONAL FUNDS
001 B000000 811-06071
001 C000000 4108953761
002 A000000 1 SOUTH STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21202
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 4
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C020900 INSTITUTIONAL CAPITAL APPRECIATION FUND
007 C030900 N
007 C011000 10
007 C011100 11
007 C021100 INSTITUTIONAL INTERNATIONAL EQUITY FUND
007 C031100 N
007 C011200 12
007 C011300 13
007 C021300 INSTITUTIONAL INTERNATIONAL SMALL COMPANY
007 C031300 Y
007 C011400 14
007 C021400 INSTITUTIONAL GLOBAL EMERGING MARKETS
007 C031400 Y
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
<PAGE> PAGE 2
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
010 A00AA01 BANKERS TRUST COMPANY
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10006
011 A00AA01 ICC DISTRIBUTORS, INC.
011 B00AA01 8-48427
011 C01AA01 PORTLAND
011 C02AA01 ME
011 C03AA01 04101
012 A00AA01 BANKERS TRUST COMPANY
012 B00AA01 84-XXXXXXX
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10006
013 A00AA01 PRICEWATERHOUSE COOPERS
013 B01AA01 BALTIMORE
013 B02AA01 MD
013 B03AA01 21201
015 A00AA01 BANKERS TRUST COMPANY
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10006
015 E03AA01 X
018 00AA00 Y
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019 B00AA00 57
019 C00AA00 BTTINFUNDS
020 C000001 0
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021 000000 0
022 A000001 1. INTERNATIONAL EQUITY PORTFOLIO
022 B000001 04-3148828
022 C000001 1040895
<PAGE> PAGE 3
022 D000001 706157
022 A000002 2. INT'L SMALL COMPANY EQUITY PORTFOLIO
022 B000002 23-2937294
022 C000002 15
022 D000002 4
022 A000003 3. GLOBAL EMERGING MARKETS EQUITY PORTFOLIO
022 B000003 23-2949695
022 C000003 9
022 D000003 62
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<PAGE> PAGE 4
041 00AA00 N
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048 J01AA00 0
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048 K01AA00 0
048 K02AA00 0.000
055 A00AA00 N
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<PAGE> PAGE 5
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080 C00AA00 16000
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<PAGE> PAGE 6
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070 A010900 N
070 A020900 N
070 B010900 N
070 B020900 N
070 C010900 N
<PAGE> PAGE 7
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 N
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 N
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
070 I020900 N
070 J010900 N
070 J020900 N
070 K010900 Y
070 K020900 N
070 L010900 N
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 N
070 N020900 N
070 O010900 N
070 O020900 N
070 P010900 N
070 P020900 N
070 Q010900 N
070 Q020900 N
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070 R020900 N
071 A000900 0
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<PAGE> PAGE 8
072 Q000900 0
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<PAGE> PAGE 9
075 A000900 0
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028 A011100 144202
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066 A001100 Y
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069 001100 N
070 A011100 N
070 A021100 N
070 B011100 N
<PAGE> PAGE 10
070 B021100 N
070 C011100 N
070 C021100 N
070 D011100 N
070 D021100 N
070 E011100 N
070 E021100 N
070 F011100 N
070 F021100 N
070 G011100 N
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 N
070 J021100 N
070 K011100 Y
070 K021100 Y
070 L011100 N
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070 M021100 N
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070 O021100 N
070 P011100 N
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070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 0
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<PAGE> PAGE 11
072 O001100 0
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072 X001100 3830
072 Y001100 1394
072 Z001100 6603
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072CC011100 111702
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074 J001100 0
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074 M001100 27
074 N001100 1078039
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074 T001100 1032658
074 U011100 63423
074 U021100 10615
074 V011100 13.94
074 V021100 14.02
074 W001100 0.0000
<PAGE> PAGE 12
074 X001100 389
074 Y001100 0
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075 B001100 879106
076 001100 0.00
028 A011300 5
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028 G021300 0
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028 H001300 0
058 A001300 N
059 001300 Y
060 A001300 Y
060 B001300 Y
061 001300 5000
066 A001300 Y
066 B001300 N
066 C001300 Y
066 D001300 N
066 E001300 N
066 F001300 N
066 G001300 N
067 001300 N
068 A001300 N
068 B001300 Y
069 001300 N
070 A011300 N
<PAGE> PAGE 13
070 A021300 N
070 B011300 N
070 B021300 N
070 C011300 N
070 C021300 N
070 D011300 N
070 D021300 N
070 E011300 N
070 E021300 N
070 F011300 N
070 F021300 N
070 G011300 N
070 G021300 N
070 H011300 N
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 N
070 J021300 Y
070 K011300 Y
070 K021300 N
070 L011300 N
070 L021300 N
070 M011300 N
070 M021300 N
070 N011300 N
070 N021300 N
070 O011300 N
070 O021300 N
070 P011300 N
070 P021300 N
070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
071 A001300 0
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<PAGE> PAGE 14
072 M001300 2
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<PAGE> PAGE 15
074 V021300 0.00
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028 H001400 0
058 A001400 N
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066 A001400 Y
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066 D001400 N
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<PAGE> PAGE 16
069 001400 N
070 A011400 N
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070 C021400 N
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070 D021400 N
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070 G021400 N
070 H011400 N
070 H021400 N
070 I011400 N
070 I021400 N
070 J011400 N
070 J021400 N
070 K011400 Y
070 K021400 Y
070 L011400 N
070 L021400 N
070 M011400 N
070 M021400 N
070 N011400 N
070 N021400 N
070 O011400 N
070 O021400 N
070 P011400 N
070 P021400 N
070 Q011400 N
070 Q021400 N
070 R011400 N
070 R021400 N
071 A001400 0
071 B001400 0
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072 A001400 10
072 B001400 0
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<PAGE> PAGE 17
072 K001400 0
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<PAGE> PAGE 18
074 U021400 0
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058 A001500 N
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061 001500 5000
SIGNATURE BRIAN WIXTED
TITLE PRINCIPAL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
FINANCIAL DATA SCHEDULE
ARTICLE 6
CIK 862157
NAME BT INSTITUTIONAL INT'L EQUITY FUND CLASS 2
PERIOD TYPE 12-MOS
FISCAL YEAR END 30-Sep-99
PERIOD END 30-Sep-99
INVESTMENTS AT COST 1,063,642,542
INVESTMENTS AT VALUE 1,063,642,542
RECEIVABLES 14,368,946
ASSETS OTHER 27,274
TOTAL ASSETS 1,078,038,762
PAYABLE FOR SECURITIES 0
OTHER ITEMS LIABILITIES 45,380,380
TOTAL LIABILITIES 45,380,380
PAID IN CAPITAL COMMON 971,856,646
SHARES COMMON CURRENT 10,614,664
SHARES COMMON PRIOR 727,296
ACCUMULATED NII CURRENT 2,805,296
ACCUMULATED NET GAINS (31,607,648)
OVERDISTRIBUTION GAINS 0
ACCUM APPREC OR DEPREC 89,604,088
NET ASSETS 148,802,782
DIVIDEND INCOME 0
INTEREST INCOME 0
OTHER INCOME 9,039,363
EXPENSES NET 2,436,222
NET INVESTMENT INCOME 6,603,141
REALIZED GAINS CURRENT 3,178,526
APPREC INCREASE CURRENT 111,701,869
NET CHANGE FROM OPS 121,483,536
DISTRIBUTIONS OF INCOME 238,402
DISTRIBUTIONS OF GAINS 0
DISTRIBUTIONS OTHER 0
NUMBER OF SHARES SOLD 12,639,313
NUMBER OF SHARES REDEEMED 3,028,982
SHARES REINVESTED 277,037
NET CHANGE IN ASSETS 467,745,572
UNDISTRIBUTED NII PRIOR 2,805,296
ACCUMULATED GAINS PRIOR (31,837,489)
OVERDISTRIB NII PRIOR 0
OVERDIST NET GAINS PRIOR 0
GROSS ADVISORY FEES 0
GROSS EXPENSE 3,830,149
AVERAGE NET ASSETS 80,579,828
PER SHARE NAV BEGIN 12.01
PER SHARE NII 0.02
PER SHARE GAIN APPREC 2.10
PER SHARE DIVIDEND (0.11)
PER SHARE DISTRIBUTIONS 0.00
RETURNS OF CAPITAL 0.00
PER SHARE NAV END 14.02
EXPENSE RATIO 1.25%
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
FINANCIAL DATA SCHEDULE
ARTICLE 6
CIK 862157
NAME BT INSTITUTIONAL INT'L EQUITY FUND CLASS 1
PERIOD TYPE 12-MOS
FISCAL YEAR END 30-Sep-99
PERIOD END 30-Sep-99
INVESTMENTS AT COST 1,063,642,542
INVESTMENTS AT VALUE 1,063,642,542
RECEIVABLES 14,368,946
ASSETS OTHER 27,274
TOTAL ASSETS 1,078,038,762
PAYABLE FOR SECURITIES 0
OTHER ITEMS LIABILITIES 45,380,380
TOTAL LIABILITIES 45,380,380
PAID IN CAPITAL COMMON 971,856,646
SHARES COMMON CURRENT 63,422,950
SHARES COMMON PRIOR 46,776,813
ACCUMULATED NII CURRENT 2,805,296
ACCUMULATED NET GAINS (31,607,648)
OVERDISTRIBUTION GAINS 0
ACCUM APPREC OR DEPREC 89,604,088
NET ASSETS 883,855,400
DIVIDEND INCOME 0
INTEREST INCOME 0
OTHER INCOME 9,039,363
EXPENSES NET 2,436,222
NET INVESTMENT INCOME 6,603,141
REALIZED GAINS CURRENT 3,178,526
APPREC INCREASE CURRENT 111,701,869
NET CHANGE FROM OPS 121,483,536
DISTRIBUTIONS OF INCOME 4,876,459
DISTRIBUTIONS OF GAINS 0
DISTRIBUTIONS OTHER 0
NUMBER OF SHARES SOLD 65,226,396
NUMBER OF SHARES REDEEMED 48,883,450
SHARES REINVESTED 303,192
NET CHANGE IN ASSETS 467,745,572
UNDISTRIBUTED NII PRIOR 2,805,296
ACCUMULATED GAINS PRIOR (31,837,489)
OVERDISTRIB NII PRIOR 0
OVERDIST NET GAINS PRIOR 0
GROSS ADVISORY FEES 0
GROSS EXPENSE 3,830,149
AVERAGE NET ASSETS 798,526,066
PER SHARE NAV BEGIN 11.89
PER SHARE NII 0.09
PER SHARE GAIN APPREC 2.06
PER SHARE DIVIDEND (0.10)
PER SHARE DISTRIBUTIONS 0.00
RETURNS OF CAPITAL 0.00
PER SHARE NAV END 13.94
EXPENSE RATIO 0.95%
</TABLE>
To the Trustees of the BT Institutional Funds:
In planning and performing our audit of the financial
statements of the International Equity Fund (one of the Funds
comprising BT Institutional Funds, hereafter referred to as the
"Fund") for the year ended September 30, 1999, we
considered its internal control, including control activities for
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and to comply with the requirements of
Form N-SAR, not to provide assurance on internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess
the expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements and financial
highlights for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to the
risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material
weakness is a condition in which the design or operation of
one or more of the internal control components does not
reduce to a relatively low level the risk that misstatements
caused by error or fraud in amounts that would be material
in relation to the financial statements being audited may
occur and not be detected within a timely period by
employees in the normal course of performing their assigned
functions. However, we noted no matters involving internal
control and its operation, including controls over safeguarding
securities, that we consider to be material weaknesses as
defined above as of September 30, 1999.
This report is intended solely for the information and use of
management, the Trustees of the BT Institutional Funds and
the Securities and Exchange Commission and is not intended
to be and should not be used by anyone other than these
specified parties.
PricewaterhouseCoopers LLP
Baltimore, Maryland
November 17, 1999
To the Trustees of the BT Investment Funds:
In planning and performing our audit of the financial
statements of the Small Cap Fund, Capital Appreciation
Fund, Intermediate Tax Free Fund, Latin American Equity
Fund, Global Emerging Markets Equity Fund, and Pacific
Basin Equity Fund (Funds comprising BT Investment Funds,
hereafter referred to as the "Funds") for the year ended
September 30, 1999, we considered its internal control,
including control activities for safeguarding securities, in
order to determine our auditing procedures for the purpose
of expressing our opinion on the financial statements and to
comply with the requirements of Form N-SAR, not to provide
assurance on internal control.
The management of the Funds is responsible for establishing
and maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess
the expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements and financial
highlights for external purposes that are fairly presented in
conformity with generally accepted accounting principles.
Those controls include the safeguarding of assets against
unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, error or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to the
risk that it may become inadequate because of changes in
conditions or that the effectiveness of the design and operation
may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American
Institute of Certified Public Accountants. A material
weakness is a condition in which the design or operation of
one or more of the internal control components does not reduce
to a relatively low level the risk that misstatements caused by
error or fraud in amounts that would be material in relation to
the financial statements being audited may occur and not be
detected within a timely period by employees in the normal
course of performing their assigned functions. However, we
noted no matters involving internal control and its operation,
including controls over safeguarding securities, that we consider
to be material weaknesses as defined above as of
September 30, 1999.
This report is intended solely for the information and use of
management, the Trustees of the BT Investment Funds and
the Securities and Exchange Commission and is not intended
to be and should not be used by anyone other than these
specified parties.
PricewaterhouseCoopers LLP
Baltimore, Maryland
November 17, 1999
