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Previous: ALLMERICA FINANCIAL LIFE INSURANCE & ANNUITY CO /DE/, NT-NSAR, 1996-02-29 |
Next: KEMPER INSURED CORPORATE TRUST SERIES 2, 24F-2NT, 1996-02-29 |
<PAGE> PAGE 1
000 B000000 12/31/95
000 C000000 0000873934
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 BAYFUNDS
001 B000000 811-6296
001 C000000 4122881432
002 A000000 FEDERATED INVESTORS TOWER
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
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006 000000 N
007 A000000 Y
007 B000000 5
007 C010100 1
007 C020100 BAYFUNDS MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 BAYFUNDS U.S. TREASURY MONEY MARKET PORTFOLIO
007 C030200 N
007 C010300 3
007 C020300 BAYFUNDS BOND PORTFOLIO
007 C030300 N
007 C010400 4
007 C020400 BAYFUNDS EQUITY PORTFOLIO
007 C030400 N
007 C010500 5
007 C020500 BAYFUNDS SHORT-TERM YIELD PORTFOLIO
007 C030500 N
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 BAYBANKS INVESTMENT MANAGEMENT, INC.
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 BOSTON
008 D02AA01 MA
008 D03AA01 02110
010 A00AA01 FEDERATED ADMINISTRATIVE SERVICES
010 C01AA01 PITTSBURGH
<PAGE> PAGE 2
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3779
012 A00AA01 DST SYSTEMS, INC.
012 B00AA01 84-0000
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 ERNST & YOUNG LLP
013 B01AA01 PITTSBURGH
013 B02AA01 PA
013 B03AA01 15219
018 00AA00 Y
019 A00AA00 N
019 B00AA00 0
020 A000001 HELFANT (LAWRENCE), INC.
020 C000001 53
020 A000002 CANTOR, FITZGERALD SECURITIES CORP.
020 B000002 13-2698893
020 C000002 4
020 A000003 JONES & ASSOCIATES, INC.
020 B000003 95-358343
020 C000003 0
020 A000004 ITT FINANCIAL CORP.
020 B000004 43-0815676
020 C000004 0
020 A000005 INSTINET
020 B000005 13-3443395
020 C000005 0
020 A000006 A.G. EDWARDS & SONS, INC.
020 B000006 43-0895447
020 C000006 0
020 A000007 A.H. WILLIAMS & CO.
020 B000007 23-2177819
020 C000007 0
020 A000008 A.I.G. FINANCIAL SECURITITES, INC.
020 C000008 0
020 A000009 ADLER, COLEMAN & CO., INC.
020 C000009 0
020 C000010 0
021 000000 1256
022 A000001 HSBC SECURITIES, INC.
022 C000001 35562584
022 D000001 157943
022 A000002 SALOMON BROTHERS, INC.
<PAGE> PAGE 3
022 B000002 13-3082694
022 C000002 26243876
022 D000002 9329
022 A000003 FUJI SECURITIES, INC.
022 B000003 13-5624234
022 C000003 22630743
022 D000003 134648
022 A000004 GREENWICH CAPITAL MARKETS, INC.
022 B000004 13-3172275
022 C000004 20160000
022 D000004 0
022 A000005 DEAN WITTER REYNOLDS, INC.
022 B000005 94-1671384
022 C000005 17296523
022 D000005 9442
022 A000006 PAINEWEBBER, INC.
022 B000006 13-2638166
022 C000006 16297041
022 D000006 4134
022 A000007 SANWA-BGK SECURITIES CO.
022 B000007 13-3046258
022 C000007 15431580
022 D000007 6038
022 A000008 MERRILL LYNCH, PIERCE, FENNER & SMITH, INC.
022 B000008 13-5674085
022 C000008 9874296
022 D000008 18487
022 A000009 LANSTON (AUBREY G.) & CO., INC.
022 B000009 13-5552129
022 C000009 7964310
022 D000009 4940
022 A000010 SMITH BARNEY, INC.
022 C000010 6400135
022 D000010 1389
023 C000000 178780895
023 D000000 556222
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<PAGE> PAGE 4
031 B00AA00 0
032 00AA00 0
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054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 N
054 I00AA00 N
054 J00AA00 N
054 K00AA00 N
054 L00AA00 N
054 M00AA00 N
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<PAGE> PAGE 5
077 G000000 N
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080 A00AA00 THE AETNA CASUALTY AND SURETY COMPANY
080 B00AA00 ICI MUTUAL INSURANCE COMPANY
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
070 F020100 N
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<PAGE> PAGE 9
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015 A000201 THE FIFTH THIRD BANK
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<PAGE> PAGE 10
015 C020201 OH
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015 A000202 STATE STREET BANK AND TRUST COMPANY
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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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015 A000301 THE FIFTH THIRD BANK
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015 A000302 STATE STREET BANK AND TRUST COMPANY
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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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015 A000401 THE FIFTH THIRD BANK
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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057 000400 N
062 A000400 N
062 B000400 0.0
062 C000400 0.0
062 D000400 0.0
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 0.0
062 N000400 0.0
062 O000400 0.0
062 P000400 0.0
062 Q000400 0.0
062 R000400 0.0
063 A000400 0
063 B000400 0.0
066 A000400 Y
066 B000400 N
066 C000400 Y
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 N
067 000400 N
068 A000400 N
068 B000400 N
069 000400 N
070 A010400 Y
070 A020400 Y
070 B010400 Y
070 B020400 N
070 C010400 N
070 C020400 N
070 D010400 N
070 D020400 N
070 E010400 N
070 E020400 N
070 F010400 N
<PAGE> PAGE 21
070 F020400 N
070 G010400 N
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 Y
070 L020400 Y
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 79893
071 B000400 99830
071 C000400 105232
071 D000400 76
072 A000400 12
072 B000400 386
072 C000400 1698
072 D000400 0
072 E000400 0
072 F000400 784
072 G000400 113
072 H000400 0
072 I000400 36
072 J000400 37
072 K000400 0
072 L000400 48
072 M000400 7
072 N000400 28
072 O000400 0
072 P000400 0
072 Q000400 76
072 R000400 16
072 S000400 13
072 T000400 73
072 U000400 0
072 V000400 0
<PAGE> PAGE 22
072 W000400 17
072 X000400 1248
072 Y000400 0
072 Z000400 836
072AA000400 12087
072BB000400 2420
072CC010400 20792
072CC020400 0
072DD010400 693
072DD020400 161
072EE000400 7045
073 A010400 0.1000
073 A020400 0.0700
073 B000400 0.8200
073 C000400 0.0000
074 A000400 16
074 B000400 2440
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 112218
074 G000400 0
074 H000400 0
074 I000400 0
074 J000400 0
074 K000400 0
074 L000400 5176
074 M000400 28
074 N000400 119878
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 118
074 S000400 0
074 T000400 119760
074 U010400 6766
074 U020400 2419
074 V010400 13.04
074 V020400 13.04
074 W000400 0.0000
074 X000400 3195
074 Y000400 0
075 A000400 0
075 B000400 112255
076 000400 0.00
015 A000501 THE FIFTH THIRD BANK
015 B000501 C
015 C010501 CINCINNATI
<PAGE> PAGE 23
015 C020501 OH
015 C030501 45202
015 E010501 X
015 A000502 STATE STREET BANK AND TRUST COMPANY
015 B000502 S
015 C010502 BOSTON
015 C020502 MA
015 C030502 02105
015 E010502 X
015 A000503 BANK OF NEW YORK
015 B000503 S
015 C010503 NEW YORK
015 C020503 NY
015 C030503 10286
015 E010503 X
024 000500 Y
025 A000501 DEAN WITTER DISCOVER
025 C000501 D
025 D000501 1502
025 A000502 SMITH BARNEY HOLDINGS, INC.
025 C000502 D
025 D000502 1598
025 D000503 0
025 D000504 0
025 D000505 0
025 D000506 0
025 D000507 0
025 D000508 0
028 A010500 731
028 A020500 0
028 A030500 0
028 A040500 2145
028 B010500 391
028 B020500 107
028 B030500 0
028 B040500 2019
028 C010500 569
028 C020500 103
028 C030500 0
028 C040500 4801
028 D010500 641
028 D020500 93
028 D030500 0
028 D040500 2053
028 E010500 305
028 E020500 88
028 E030500 0
028 E040500 1177
028 F010500 507
028 F020500 182
028 F030500 0
<PAGE> PAGE 24
028 F040500 1321
028 G010500 3144
028 G020500 573
028 G030500 0
028 G040500 13516
028 H000500 0
045 000500 Y
046 000500 N
047 000500 Y
048 000500 0.500
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
055 A000500 N
055 B000500 N
056 000500 Y
057 000500 N
062 A000500 Y
062 B000500 12.0
062 C000500 0.0
062 D000500 7.9
062 E000500 0.0
062 F000500 0.0
062 G000500 0.0
062 H000500 0.0
062 I000500 0.0
062 J000500 0.0
062 K000500 0.0
062 L000500 0.0
062 M000500 0.0
062 N000500 8.1
062 O000500 0.0
<PAGE> PAGE 25
062 P000500 46.5
062 Q000500 24.4
062 R000500 0.0
063 A000500 0
063 B000500 2.8
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 N
070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 N
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 Y
070 M010500 N
070 M020500 N
070 N010500 Y
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 104124
071 B000500 119717
071 C000500 62334
<PAGE> PAGE 26
071 D000500 167
072 A000500 12
072 B000500 4965
072 C000500 0
072 D000500 0
072 E000500 0
072 F000500 362
072 G000500 73
072 H000500 0
072 I000500 20
072 J000500 18
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072 L000500 28
072 M000500 3
072 N000500 26
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072 Q000500 61
072 R000500 12
072 S000500 7
072 T000500 65
072 U000500 0
072 V000500 0
072 W000500 15
072 X000500 690
072 Y000500 0
072 Z000500 4275
072AA000500 437
072BB000500 760
072CC010500 1337
072CC020500 0
072DD010500 2791
072DD020500 1484
072EE000500 0
073 A010500 0.5500
073 A020500 0.5300
073 B000500 0.0000
073 C000500 0.0000
074 A000500 4
074 B000500 4860
074 C000500 0
074 D000500 55823
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074 M000500 38
<PAGE> PAGE 27
074 N000500 61594
074 O000500 0
074 P000500 0
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074 R030500 0
074 R040500 297
074 S000500 0
074 T000500 61297
074 U010500 4330
074 U020500 2273
074 V010500 9.28
074 V020500 9.28
074 W000500 0.0000
074 X000500 1580
074 Y000500 0
075 A000500 0
075 B000500 72409
076 000500 0.00
SIGNATURE ELLIOTT S. COHAN
TITLE ASST. GEN COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 031
<NAME> BayFunds
BayFunds Bond Portfolio
Institutional Shares
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<PERIOD-END> Dec-31-1995
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<PER-SHARE-NAV-END> 10.310
<EXPENSE-RATIO> 1.04
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 032
<NAME> BayFunds
BayFunds Bond Portfolio
Investment Shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
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<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (904,422)
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<EXPENSE-RATIO> 1.29
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 041
<NAME> BayFunds
BayFunds Equity Fund
Institutional Shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
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<GROSS-EXPENSE> 1,248,025
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<EXPENSE-RATIO> 1.05
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 042
<NAME> BayFunds
BayFunds Equity Fund
Investment shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
<INVESTMENTS-AT-COST> 87,960,056
<INVESTMENTS-AT-VALUE> 114,658,304
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<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 93,069,157
<SHARES-COMMON-STOCK> 2,418,821
<SHARES-COMMON-PRIOR> 2,743,093
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,623)
<ACCUMULATED-NET-GAINS> (6,193)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26,698,248
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<EXPENSES-NET> 1,248,025
<NET-INVESTMENT-INCOME> 836,338
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<NUMBER-OF-SHARES-SOLD> 389,598
<NUMBER-OF-SHARES-REDEEMED> 868,878
<SHARES-REINVESTED> 155,008
<NET-CHANGE-IN-ASSETS> 12,544,643
<ACCUMULATED-NII-PRIOR> 17,731
<ACCUMULATED-GAINS-PRIOR> (2,628,517)
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 783,869
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,248,025
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<PER-SHARE-NII> 0.070
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<PER-SHARE-DIVIDEND> 0.070
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.820
<PER-SHARE-NAV-END> 13.040
<EXPENSE-RATIO> 1.30
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 011
<NAME> BayFunds
BayFunds Money Market Portfolio
Trust Shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
<INVESTMENTS-AT-COST> 209,131,421
<INVESTMENTS-AT-VALUE> 209,131,421
<RECEIVABLES> 1,767,068
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<TOTAL-ASSETS> 210,906,992
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<OTHER-ITEMS-LIABILITIES> 774,049
<TOTAL-LIABILITIES> 774,049
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 210,132,943
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<SHARES-COMMON-PRIOR> 136,923,154
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 156,552,245
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 13,063,409
<OTHER-INCOME> 0
<EXPENSES-NET> 1,484,830
<NET-INVESTMENT-INCOME> 11,578,579
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 11,578,579
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 273,700,989
<NUMBER-OF-SHARES-REDEEMED> 254,389,634
<SHARES-REINVESTED> 317,736
<NET-CHANGE-IN-ASSETS> 15,862,188
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 869,240
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,484,830
<AVERAGE-NET-ASSETS> 217,335,211
<PER-SHARE-NAV-BEGIN> 1.000
<PER-SHARE-NII> 0.050
<PER-SHARE-GAIN-APPREC> 0.000
<PER-SHARE-DIVIDEND> 0.050
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.62
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> BayFunds
BayFunds Money Market Portfolio
Investment Shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
<INVESTMENTS-AT-COST> 209,131,421
<INVESTMENTS-AT-VALUE> 209,131,421
<RECEIVABLES> 1,767,068
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<TOTAL-ASSETS> 210,906,992
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 774,049
<TOTAL-LIABILITIES> 774,049
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 210,132,943
<SHARES-COMMON-STOCK> 53,580,698
<SHARES-COMMON-PRIOR> 57,347,601
<ACCUMULATED-NII-CURRENT> 0
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<PER-SHARE-DIVIDEND> 0.050
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<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.87
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 051
<NAME> BayFunds
BayFunds Short Term Yield Portfolio
Institutional Shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
<INVESTMENTS-AT-COST> 60,103,654
<INVESTMENTS-AT-VALUE> 60,683,333
<RECEIVABLES> 869,716
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<OTHER-ITEMS-ASSETS> 0
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<OTHER-ITEMS-LIABILITIES> 297,253
<TOTAL-LIABILITIES> 297,253
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 72,645,690
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<ACCUMULATED-NET-GAINS> (11,927,942)
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<NET-ASSETS> 40,196,391
<DIVIDEND-INCOME> 0
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<EXPENSES-NET> 689,985
<NET-INVESTMENT-INCOME> 4,275,010
<REALIZED-GAINS-CURRENT> (322,828)
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<DISTRIBUTIONS-OF-INCOME> 2,791,044
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<NUMBER-OF-SHARES-SOLD> 599,879
<NUMBER-OF-SHARES-REDEEMED> 2,447,365
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<NET-CHANGE-IN-ASSETS> (30,207,031)
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<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 689,985
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<EXPENSE-RATIO> 0.86
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 052
<NAME> BayFunds
BayFunds Short Term Yield Portfolio
Investment Shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
<INVESTMENTS-AT-COST> 60,103,654
<INVESTMENTS-AT-VALUE> 60,683,333
<RECEIVABLES> 869,716
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<TOTAL-ASSETS> 61,594,680
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<OTHER-ITEMS-LIABILITIES> 297,253
<TOTAL-LIABILITIES> 297,253
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<PAID-IN-CAPITAL-COMMON> 72,645,690
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<ACCUMULATED-NII-CURRENT> 0
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<ACCUMULATED-NET-GAINS> (11,927,942)
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<DIVIDEND-INCOME> 0
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<EXPENSES-NET> 689,985
<NET-INVESTMENT-INCOME> 4,275,010
<REALIZED-GAINS-CURRENT> (322,828)
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<NUMBER-OF-SHARES-SOLD> 224,378
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<NET-CHANGE-IN-ASSETS> (30,207,031)
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<GROSS-ADVISORY-FEES> 361,786
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<GROSS-EXPENSE> 689,985
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<EXPENSE-RATIO> 1.11
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 021
<NAME> BayFunds
BayFunds U.S. Treasury Money Market Portfolio
Institutional Shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
<INVESTMENTS-AT-COST> 1,062,936,001
<INVESTMENTS-AT-VALUE> 1,062,936,001
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<ACCUMULATED-NET-GAINS> 0
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<NET-ASSETS> 815,448,589
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 58,352,814
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<EXPENSES-NET> 4,250,442
<NET-INVESTMENT-INCOME> 54,102,372
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<NUMBER-OF-SHARES-SOLD> 371,215,218
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<GROSS-EXPENSE> 4,250,442
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<PER-SHARE-DISTRIBUTIONS> 0.000
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<PER-SHARE-NAV-END> 1.000
<EXPENSE-RATIO> 0.38
<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>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> BayFunds
BayFunds U.S. Treasury Money Market Portfolio
Investment Shares
<PERIOD-TYPE> 12-mos
<FISCAL-YEAR-END> Dec-31-1995
<PERIOD-END> Dec-31-1995
<INVESTMENTS-AT-COST> 1,062,936,001
<INVESTMENTS-AT-VALUE> 1,062,936,001
<RECEIVABLES> 4,495,946
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<OTHER-ITEMS-LIABILITIES> 3,942,631
<TOTAL-LIABILITIES> 3,942,631
<SENIOR-EQUITY> 0
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<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 248,129,401
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 58,352,814
<OTHER-INCOME> 0
<EXPENSES-NET> 4,250,442
<NET-INVESTMENT-INCOME> 54,102,372
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<NET-CHANGE-FROM-OPS> 54,102,372
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,887,034,426
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<SHARES-REINVESTED> 3,079,197
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,978,781
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<GROSS-EXPENSE> 4,250,442
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<PER-SHARE-NAV-END> 1.000
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
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