<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from Great Hall
Investment Funds, Inc.'s July 31, 2000 annual report and is qualified in its
entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 5
<NAME> GREAT HALL INSTITUTIONAL TAX-FREE MONEY MARKET FUND
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-2000
<PERIOD-END> JUL-31-2000
<INVESTMENTS-AT-COST> 158,186
<INVESTMENTS-AT-VALUE> 158,186
<RECEIVABLES> 812
<ASSETS-OTHER> 57
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 159,055
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 135
<TOTAL-LIABILITIES> 135
<SENIOR-EQUITY> 1,589
<PAID-IN-CAPITAL-COMMON> 157,332
<SHARES-COMMON-STOCK> 158,921
<SHARES-COMMON-PRIOR> 53,149
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 158,921
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 4,046
<OTHER-INCOME> 0
<EXPENSES-NET> (410)
<NET-INVESTMENT-INCOME> 3,636
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 3,636
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,636)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 285,108
<NUMBER-OF-SHARES-REDEEMED> (182,972)
<SHARES-REINVESTED> 3,636
<NET-CHANGE-IN-ASSETS> 105,772
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> (261)
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> (459)
<AVERAGE-NET-ASSETS> 103,941
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (0.03)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.39
</TABLE>