<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 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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035 000500 0
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<PAGE> PAGE 21
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050 000500 N
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055 A000500 N
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056 000500 Y
057 000500 N
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<PAGE> PAGE 22
062 D000500 21.6
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064 B000500 N
066 A000500 N
067 000500 N
068 A000500 N
068 B000500 N
069 000500 N
070 A010500 Y
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070 C020500 N
070 D010500 N
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 N
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 Y
070 K010500 Y
070 K020500 N
070 L010500 N
070 L020500 N
070 M010500 N
070 M020500 N
070 N010500 Y
<PAGE> PAGE 23
070 N020500 N
070 O010500 Y
070 O020500 N
070 P010500 Y
070 P020500 N
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070 Q020500 N
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070 R020500 N
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<PAGE> PAGE 24
074 B000500 358458
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008 B000601 A
008 C000601 801-0000
008 D010601 WINSTON-SALEM
008 D020601 NC
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015 A000601 WACHOVIA BANK, N.A.
015 B000601 C
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015 C030601 27150
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024 000600 Y
025 A000601 AMERICAN EXPRESS
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<PAGE> PAGE 25
025 A000603 TRAVELERS CORP.
025 C000603 E
025 D000603 3426
025 A000604 CHASE MANHATTAN CORP.
025 C000604 E
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<PAGE> PAGE 26
034 000600 Y
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<PAGE> PAGE 27
053 C000600 N
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069 000600 N
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<PAGE> PAGE 28
070 F010600 Y
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070 J020600 N
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<PAGE> PAGE 29
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008 A000701 WACHOVIA ASSET MANAGEMENT
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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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050 000700 N
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052 000700 N
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<PAGE> PAGE 33
070 A010700 Y
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<PAGE> PAGE 34
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<PAGE> PAGE 35
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<PAGE> PAGE 36
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<PAGE> PAGE 37
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<PAGE> PAGE 38
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<PAGE> PAGE 39
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<PAGE> PAGE 40
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008 A000901 WACHOVIA ASSET MANAGEMENT
008 B000901 A
008 C000901 801-0000
008 D010901 WINSTON-SALEM
008 D020901 NC
008 D030901 27101
015 A000901 WACHOVIA BANK, N.A.
015 B000901 C
015 C010901 WINSTON-SALEM
015 C020901 NC
015 C030901 27150
015 E030901 X
024 000900 Y
025 A000901 LEHMAN BROTHERS HOLDINGS
<PAGE> PAGE 41
025 C000901 D
025 D000901 2775
025 A000902 MORGAN STANLEY GROUP
025 C000902 D
025 D000902 998
025 A000903 MERRILL LYNCH
025 C000903 D
025 D000903 4000
025 D000904 0
025 D000905 0
025 D000906 0
025 D000907 0
025 D000908 0
028 A010900 1342
028 A020900 792
028 A030900 0
028 A040900 2273
028 B010900 10579
028 B020900 471
028 B030900 0
028 B040900 2088
028 C010900 1008
028 C020900 475
028 C030900 0
028 C040900 1751
028 D010900 1039
028 D020900 406
028 D030900 0
028 D040900 4815
028 E010900 1155
028 E020900 404
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028 E040900 4661
028 F010900 1771
028 F020900 396
028 F030900 0
028 F040900 1220
028 G010900 16894
028 G020900 2944
028 G030900 0
028 G040900 16808
028 H000900 5911
029 000900 Y
030 A000900 1
030 B000900 2.50
030 C000900 0.00
031 A000900 0
031 B000900 0
032 000900 1
033 000900 0
034 000900 N
<PAGE> PAGE 42
035 000900 0
036 B000900 0
037 000900 N
038 000900 0
039 000900 N
040 000900 N
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 0
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 0
043 000900 0
044 000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.550
048 A010900 0
048 A020900 0.000
048 B010900 0
048 B020900 0.000
048 C010900 0
048 C020900 0.000
048 D010900 0
048 D020900 0.000
048 E010900 0
048 E020900 0.000
048 F010900 0
048 F020900 0.000
048 G010900 0
048 G020900 0.000
048 H010900 0
048 H020900 0.000
048 I010900 0
048 I020900 0.000
048 J010900 0
048 J020900 0.000
048 K010900 0
048 K020900 0.000
049 000900 N
050 000900 N
051 000900 N
052 000900 N
053 A000900 Y
053 B000900 Y
053 C000900 N
055 A000900 N
055 B000900 N
<PAGE> PAGE 43
056 000900 Y
057 000900 N
058 A000900 N
059 000900 Y
060 A000900 Y
060 B000900 Y
061 000900 250
062 A000900 Y
062 B000900 0.0
062 C000900 0.0
062 D000900 12.4
062 E000900 0.0
062 F000900 0.0
062 G000900 0.0
062 H000900 0.0
062 I000900 0.0
062 J000900 0.0
062 K000900 0.0
062 L000900 0.0
062 M000900 33.1
062 N000900 8.8
062 O000900 0.0
062 P000900 52.1
062 Q000900 0.0
062 R000900 3.4
063 A000900 0
063 B000900 2.4
064 A000900 N
064 B000900 N
066 A000900 N
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 Y
070 B010900 N
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 N
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 N
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 N
070 H020900 N
070 I010900 N
<PAGE> PAGE 44
070 I020900 N
070 J010900 Y
070 J020900 N
070 K010900 Y
070 K020900 Y
070 L010900 Y
070 L020900 N
070 M010900 N
070 M020900 N
070 N010900 Y
070 N020900 Y
070 O010900 Y
070 O020900 N
070 P010900 Y
070 P020900 N
070 Q010900 N
070 Q020900 N
070 R010900 N
070 R020900 N
071 A000900 84089
071 B000900 81532
071 C000900 99429
071 D000900 82
072 A000900 6
072 B000900 3116
072 C000900 75
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072 F000900 282
072 G000900 50
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072 J000900 10
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072 L000900 7
072 M000900 3
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072 R000900 8
072 S000900 4
072 T000900 12
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072 W000900 9
072 X000900 412
072 Y000900 77
072 Z000900 2857
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072BB000900 139
<PAGE> PAGE 45
072CC010900 125
072CC020900 0
072DD010900 259
072DD020900 2788
072EE000900 0
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073 C000900 0.0000
074 A000900 0
074 B000900 12531
074 C000900 95338
074 D000900 0
074 E000900 0
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074 M000900 4
074 N000900 112706
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074 R010900 0
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074 R040900 11327
074 S000900 0
074 T000900 101379
074 U010900 962
074 U020900 9407
074 V010900 9.78
074 V020900 9.78
074 W000900 0.0000
074 X000900 274
074 Y000900 0
075 A000900 0
075 B000900 102149
076 000900 0.00
008 A001001 WACHOVIA ASSET MANAGEMENT
008 B001001 A
008 C001001 801-0000
008 D011001 WINSTON-SALEM
008 D021001 NC
008 D031001 27101
015 A001001 WACHOVIA BANK, N.A.
015 B001001 C
015 C011001 WINSTON-SALEM
<PAGE> PAGE 46
015 C021001 NC
015 C031001 27150
015 E031001 X
024 001000 N
025 D001001 0
025 D001002 0
025 D001003 0
025 D001004 0
025 D001005 0
025 D001006 0
025 D001007 0
025 D001008 0
028 A011000 11734
028 A021000 11105
028 A031000 0
028 A041000 2598
028 B011000 6141
028 B021000 -38
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028 B041000 3478
028 C011000 5188
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028 C031000 0
028 C041000 889
028 D011000 6006
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028 D041000 659
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028 F041000 1084
028 G011000 42533
028 G021000 11067
028 G031000 0
028 G041000 12802
028 H001000 30399
029 001000 Y
030 A001000 501
030 B001000 4.50
030 C001000 0.25
031 A001000 52
031 B001000 0
032 001000 449
033 001000 0
034 001000 N
035 001000 0
<PAGE> PAGE 47
036 B001000 0
037 001000 N
038 001000 0
039 001000 N
040 001000 N
042 A001000 0
042 B001000 0
042 C001000 0
042 D001000 0
042 E001000 0
042 F001000 0
042 G001000 0
042 H001000 0
043 001000 0
044 001000 0
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046 001000 N
047 001000 Y
048 001000 0.800
048 A011000 0
048 A021000 0.000
048 B011000 0
048 B021000 0.000
048 C011000 0
048 C021000 0.000
048 D011000 0
048 D021000 0.000
048 E011000 0
048 E021000 0.000
048 F011000 0
048 F021000 0.000
048 G011000 0
048 G021000 0.000
048 H011000 0
048 H021000 0.000
048 I011000 0
048 I021000 0.000
048 J011000 0
048 J021000 0.000
048 K011000 0
048 K021000 0.000
049 001000 N
050 001000 N
051 001000 N
052 001000 N
053 A001000 N
055 A001000 N
055 B001000 N
056 001000 Y
057 001000 N
058 A001000 N
<PAGE> PAGE 48
059 001000 Y
060 A001000 Y
060 B001000 Y
061 001000 250
062 A001000 N
062 B001000 0.0
062 C001000 0.0
062 D001000 0.0
062 E001000 0.0
062 F001000 0.0
062 G001000 0.0
062 H001000 0.0
062 I001000 0.0
062 J001000 0.0
062 K001000 0.0
062 L001000 0.0
062 M001000 0.0
062 N001000 0.0
062 O001000 0.0
062 P001000 0.0
062 Q001000 0.0
062 R001000 0.0
063 A001000 0
063 B001000 0.0
066 A001000 Y
066 B001000 N
066 C001000 N
066 D001000 Y
066 E001000 N
066 F001000 N
066 G001000 N
067 001000 N
068 A001000 N
068 B001000 N
069 001000 N
070 A011000 Y
070 A021000 Y
070 B011000 Y
070 B021000 N
070 C011000 Y
070 C021000 N
070 D011000 Y
070 D021000 N
070 E011000 Y
070 E021000 N
070 F011000 Y
070 F021000 Y
070 G011000 Y
070 G021000 N
070 H011000 Y
070 H021000 N
<PAGE> PAGE 49
070 I011000 N
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 Y
070 L011000 Y
070 L021000 N
070 M011000 N
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 Y
070 P021000 N
070 Q011000 N
070 Q021000 N
070 R011000 N
070 R021000 N
071 A001000 44202
071 B001000 21914
071 C001000 109570
071 D001000 20
072 A001000 6
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072 C001000 827
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072 R001000 8
072 S001000 2
072 T001000 67
072 U001000 0
072 V001000 0
072 W001000 8
072 X001000 776
072 Y001000 0
072 Z001000 1020
072AA001000 5802
<PAGE> PAGE 50
072BB001000 254
072CC011000 4224
072CC021000 0
072DD011000 273
072DD021000 657
072EE001000 11569
073 A011000 0.1200
073 A021000 0.1500
073 B001000 1.7100
073 C001000 0.0000
074 A001000 0
074 B001000 29821
074 C001000 0
074 D001000 9171
074 E001000 1102
074 F001000 122218
074 G001000 0
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074 I001000 735
074 J001000 30670
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074 L001000 665
074 M001000 1
074 N001000 194383
074 O001000 2223
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074 R021000 0
074 R031000 0
074 R041000 30801
074 S001000 0
074 T001000 161359
074 U011000 3680
074 U021000 5228
074 V011000 18.10
074 V021000 18.12
074 W001000 0.0000
074 X001000 7498
074 Y001000 0
075 A001000 0
075 B001000 143863
076 001000 0.00
008 A001101 WACHOVIA ASSET MANAGEMENT
008 B001101 A
008 C001101 801-0000
008 D011101 WINSTON-SALEM
008 D021101 NC
008 D031101 27101
015 A001101 WACHOVIA BANK, N.A.
015 B001101 C
<PAGE> PAGE 51
015 C011101 WINSTON-SALEM
015 C021101 NC
015 C031101 27150
015 E031101 X
024 001100 Y
025 A001101 AMERICAN EXPRESS
025 C001101 E
025 D001101 2646
025 A001102 CHASE MANHATTAN
025 C001102 E
025 D001102 2167
025 A001103 CITICORP
025 C001103 E
025 D001103 848
025 A001104 MERRILL LYNCH
025 C001104 E
025 D001104 879
025 A001105 TRAVELERS GROUP
025 C001105 E
025 D001105 1593
025 A001106 BEAR STEARNS
025 C001106 D
025 D001106 2544
025 A001107 CHASE MANHATTAN CORP.
025 C001107 D
025 D001107 1168
025 A001108 LEHMAN BROTHERS
025 C001108 D
025 D001108 1995
025 A001109 MERRILL LYNCH
025 C001109 D
025 D001109 3541
025 A001110 NATIONSBANK CORP.
025 C001110 D
025 D001110 2520
025 A001111 GOLDMAN SACHS GROUP LP
025 C001111 D
025 D001111 16770
025 D001112 0
025 D001113 0
025 D001114 0
025 D001115 0
025 D001116 0
028 A011100 10760
028 A021100 21675
028 A031100 0
028 A041100 5114
028 B011100 55708
028 B021100 -1
028 B031100 0
028 B041100 7553
<PAGE> PAGE 52
028 C011100 7893
028 C021100 0
028 C031100 0
028 C041100 2959
028 D011100 10094
028 D021100 2631
028 D031100 0
028 D041100 7902
028 E011100 6681
028 E021100 0
028 E031100 0
028 E041100 7373
028 F011100 6014
028 F021100 0
028 F031100 0
028 F041100 3471
028 G011100 97150
028 G021100 24305
028 G031100 0
028 G041100 34372
028 H001100 33187
029 001100 Y
030 A001100 501
030 B001100 4.50
030 C001100 0.25
031 A001100 179
031 B001100 0
032 001100 322
033 001100 0
034 001100 Y
035 001100 9
036 A001100 N
036 B001100 0
037 001100 N
038 001100 0
039 001100 N
040 001100 Y
041 001100 Y
042 A001100 0
042 B001100 0
042 C001100 100
042 D001100 0
042 E001100 0
042 F001100 0
042 G001100 0
042 H001100 0
043 001100 29
044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
<PAGE> PAGE 53
048 001100 0.700
048 A011100 0
048 A021100 0.000
048 B011100 0
048 B021100 0.000
048 C011100 0
048 C021100 0.000
048 D011100 0
048 D021100 0.000
048 E011100 0
048 E021100 0.000
048 F011100 0
048 F021100 0.000
048 G011100 0
048 G021100 0.000
048 H011100 0
048 H021100 0.000
048 I011100 0
048 I021100 0.000
048 J011100 0
048 J021100 0.000
048 K011100 0
048 K021100 0.000
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 Y
053 B001100 Y
053 C001100 N
055 A001100 N
055 B001100 N
056 001100 Y
057 001100 N
058 A001100 N
059 001100 Y
060 A001100 Y
060 B001100 Y
061 001100 250
062 A001100 N
062 B001100 0.0
062 C001100 0.0
062 D001100 0.0
062 E001100 0.0
062 F001100 0.0
062 G001100 0.0
062 H001100 0.0
062 I001100 0.0
062 J001100 0.0
062 K001100 0.0
062 L001100 0.0
<PAGE> PAGE 54
062 M001100 0.0
062 N001100 0.0
062 O001100 0.0
062 P001100 0.0
062 Q001100 0.0
062 R001100 0.0
063 A001100 0
063 B001100 0.0
066 A001100 Y
066 B001100 N
066 C001100 N
066 D001100 N
066 E001100 Y
066 F001100 N
066 G001100 N
067 001100 Y
068 A001100 N
068 B001100 N
069 001100 N
070 A011100 Y
070 A021100 Y
070 B011100 Y
070 B021100 N
070 C011100 Y
070 C021100 N
070 D011100 Y
070 D021100 N
070 E011100 Y
070 E021100 Y
070 F011100 Y
070 F021100 Y
070 G011100 Y
070 G021100 N
070 H011100 N
070 H021100 N
070 I011100 N
070 I021100 N
070 J011100 Y
070 J021100 N
070 K011100 Y
070 K021100 Y
070 L011100 Y
070 L021100 Y
070 M011100 N
070 M021100 N
070 N011100 Y
070 N021100 Y
070 O011100 Y
070 O021100 N
070 P011100 Y
070 P021100 N
<PAGE> PAGE 55
070 Q011100 N
070 Q021100 N
070 R011100 N
070 R021100 N
071 A001100 368437
071 B001100 277699
071 C001100 272254
071 D001100 102
072 A001100 6
072 B001100 6246
072 C001100 1125
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072 G001100 179
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072 M001100 7
072 N001100 45
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072 R001100 8
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072 Y001100 207
072 Z001100 5841
072AA001100 41329
072BB001100 4901
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072DD021100 4234
072EE001100 21079
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073 A021100 0.0000
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074 A001100 0
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074 C001100 0
074 D001100 202114
074 E001100 0
074 F001100 171669
<PAGE> PAGE 56
074 G001100 0
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074 J001100 5838
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074 L001100 2558
074 M001100 5
074 N001100 403584
074 O001100 6405
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076 001100 0.00
008 A001201 WACHOVIA ASSET MANAGEMENT
008 B001201 A
008 C001201 801-0000
008 D011201 WINSTON-SALEM
008 D021201 NC
008 D031201 27101
008 A001202 TWIN CAPITAL MANAGEMENT, INC.
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008 D011202 MCMURRAY
008 D021202 PA
008 D031202 15317
015 A001201 WACHOVIA BANK, N.A.
015 B001201 C
015 C011201 WINSTON-SALEM
015 C021201 NC
015 C031201 27150
015 E031201 X
024 001200 Y
025 A001201 CHASE MANHATTAN CORP.
025 C001201 E
025 D001201 3534
025 A001202 LEHMAN BROTHERS HOLDINGS
025 C001202 E
<PAGE> PAGE 57
025 D001202 1419
025 A001203 PAINEWEBBER
025 C001203 E
025 D001203 451
025 A001204 TRAVELERS GROUP
025 C001204 E
025 D001204 3660
025 A001205 GOLDMAN SACHS GROUP LP
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029 001200 Y
030 A001200 911
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030 C001200 0.25
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034 001200 Y
<PAGE> PAGE 58
035 001200 14
036 A001200 N
036 B001200 0
037 001200 N
038 001200 0
039 001200 N
040 001200 Y
041 001200 Y
042 A001200 0
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042 C001200 100
042 D001200 0
042 E001200 0
042 F001200 0
042 G001200 0
042 H001200 0
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044 001200 0
045 001200 Y
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047 001200 Y
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050 001200 N
051 001200 N
052 001200 N
053 A001200 Y
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<PAGE> PAGE 59
055 A001200 N
055 B001200 N
056 001200 Y
057 001200 N
058 A001200 N
059 001200 Y
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<PAGE> PAGE 60
070 F021200 Y
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070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
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070 J021200 N
070 K011200 Y
070 K021200 N
070 L011200 Y
070 L021200 Y
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070 M021200 N
070 N011200 N
070 N021200 N
070 O011200 Y
070 O021200 N
070 P011200 Y
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070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 120795
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072 R001200 8
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<PAGE> PAGE 61
072 W001200 10
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<PAGE> PAGE 62
008 D011301 WINSTON-SALEM
008 D021301 NC
008 D031301 27101
015 A001301 WACHOVIA BANK, N.A.
015 B001301 C
015 C011301 WINSTON-SALEM
015 C021301 NC
015 C031301 27150
015 E031301 X
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015 B001302 S
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015 C021302 NY
015 C031302 10260
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<PAGE> PAGE 63
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<PAGE> PAGE 64
048 I021300 0.000
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<PAGE> PAGE 65
070 A021300 Y
070 B011300 Y
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070 C021300 N
070 D011300 Y
070 D021300 N
070 E011300 Y
070 E021300 N
070 F011300 Y
070 F021300 N
070 G011300 Y
070 G021300 N
070 H011300 Y
070 H021300 N
070 I011300 N
070 I021300 N
070 J011300 Y
070 J021300 Y
070 K011300 Y
070 K021300 Y
070 L011300 Y
070 L021300 Y
070 M011300 Y
070 M021300 Y
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070 O021300 N
070 P011300 Y
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070 Q011300 N
070 Q021300 N
070 R011300 N
070 R021300 N
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<PAGE> PAGE 66
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<PAGE> PAGE 67
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008 A001401 WACHOVIA ASSET MANAGEMENT
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008 D011401 WINSTON-SALEM
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<PAGE> PAGE 68
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<PAGE> PAGE 69
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050 001400 N
051 001400 N
052 001400 N
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055 A001400 N
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056 001400 Y
057 001400 N
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<PAGE> PAGE 70
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070 I021400 N
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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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<PAGE> PAGE 75
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<PAGE> PAGE 76
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<PAGE> PAGE 77
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SIGNATURE S. ELLIOTT COHAN
TITLE ASST. GEN. COUNSEL
<TABLE> <S> <C>
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<SERIES>
<NUMBER> 011
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Wachovia U.S. Treasury Money Market Fund
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 012
<NAME> The Wachovia Funds
Wachovia U.S. Treasury Money Market Fund
Investment Shares
<PERIOD-TYPE> 6-mos
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<PERIOD-END> May-31-1998
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</TABLE>
<TABLE> <S> <C>
<S> <C>
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<SERIES>
<NUMBER> 021
<NAME> The Wachovia Funds
Wachovia Money Market Fund
Institutional Shares
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<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 022
<NAME> The Wachovia Funds
Wachovia Money Market Fund
Investment Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
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<INVESTMENTS-AT-VALUE> 557,586,632
<RECEIVABLES> 3,763,674
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<INTEREST-INCOME> 15,238,745
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<ACCUMULATED-NII-PRIOR> 0
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 041
<NAME> The Wachovia Funds
Wachovia Tax-Free Money Market Fund
Institutional Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 361,829,274
<INVESTMENTS-AT-VALUE> 361,829,274
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<OVERDISTRIBUTION-NII> 0
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<DIVIDEND-INCOME> 0
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<ACCUMULATED-NII-PRIOR> 0
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 042
<NAME> The Wachovia Funds
Wachovia Tax-Free Money Market Fund
Investment Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 361,829,274
<INVESTMENTS-AT-VALUE> 361,829,274
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<NET-INVESTMENT-INCOME> 5,221,088
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 05
<NAME> The Wachovia Funds
Wachovia Prime Cash Management Fund
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 1,659,103,178
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<OVERDISTRIBUTION-GAINS> 0
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<DIVIDEND-INCOME> 0
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<NET-INVESTMENT-INCOME> 43,979,622
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<ACCUMULATED-NII-PRIOR> 0
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<PER-SHARE-NAV-BEGIN> 1.000
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 061
<NAME> The Wachovia Funds
Wachovia Equity Fund
Class A Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
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<INVESTMENTS-AT-VALUE> 242,610,359
<RECEIVABLES> 5,864,771
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<PAID-IN-CAPITAL-COMMON> 185,834,286
<SHARES-COMMON-STOCK> 3,195,625
<SHARES-COMMON-PRIOR> 2,566,787
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 48,266,386
<DIVIDEND-INCOME> 1,197,274
<INTEREST-INCOME> 1,105,097
<OTHER-INCOME> 0
<EXPENSES-NET> 1,108,253
<NET-INVESTMENT-INCOME> 1,194,118
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<APPREC-INCREASE-CURRENT> (6,107,691)
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<SHARES-REINVESTED> 336,222
<NET-CHANGE-IN-ASSETS> 44,618,639
<ACCUMULATED-NII-PRIOR> 139,911
<ACCUMULATED-GAINS-PRIOR> 20,866,044
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 1,120,336
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<PER-SHARE-NAV-BEGIN> 15.390
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 062
<NAME> The Wachovia Funds
Wachovia Equity Fund
Class B Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 211,490,329
<INVESTMENTS-AT-VALUE> 242,610,359
<RECEIVABLES> 5,864,771
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<TOTAL-ASSETS> 248,541,373
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<OVERDISTRIBUTION-GAINS> 0
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<NET-INVESTMENT-INCOME> 1,194,118
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<SHARES-REINVESTED> 28,657
<NET-CHANGE-IN-ASSETS> 44,618,639
<ACCUMULATED-NII-PRIOR> 139,911
<ACCUMULATED-GAINS-PRIOR> 20,866,044
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<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 802,413
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<GROSS-EXPENSE> 1,120,336
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<PER-SHARE-NAV-BEGIN> 15.350
<PER-SHARE-NII> 0.010
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<PER-SHARE-DIVIDEND> 0.010
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<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 063
<NAME> The Wachovia Funds
Wachovia Equity Fund
Class Y Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 211,490,329
<INVESTMENTS-AT-VALUE> 242,610,359
<RECEIVABLES> 5,864,771
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<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 248,541,373
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<TOTAL-LIABILITIES> 4,743,267
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 185,834,286
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<SHARES-COMMON-PRIOR> 10,149,940
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 190,723,153
<DIVIDEND-INCOME> 1,197,274
<INTEREST-INCOME> 1,105,097
<OTHER-INCOME> 0
<EXPENSES-NET> 1,108,253
<NET-INVESTMENT-INCOME> 1,194,118
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<NET-CHANGE-IN-ASSETS> 44,618,639
<ACCUMULATED-NII-PRIOR> 139,911
<ACCUMULATED-GAINS-PRIOR> 20,866,044
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
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<GROSS-EXPENSE> 1,120,336
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<PER-SHARE-NAV-BEGIN> 15.390
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<PER-SHARE-DIVIDEND> 0.080
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 071
<NAME> The Wachovia Funds
Wachovia Fixed Income Fund
Class A Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
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<INVESTMENTS-AT-VALUE> 225,275,089
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<SHARES-COMMON-PRIOR> 1,019,583
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<NET-INVESTMENT-INCOME> 5,885,852
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<NUMBER-OF-SHARES-SOLD> 482,595
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<SHARES-REINVESTED> 32,647
<NET-CHANGE-IN-ASSETS> 22,100,478
<ACCUMULATED-NII-PRIOR> 255,123
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 072
<NAME> The Wachovia Funds
Wachovia Fixed Income Fund
Class B Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
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<RECEIVABLES> 4,389,474
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<SHARES-COMMON-PRIOR> 14,221
<ACCUMULATED-NII-CURRENT> 86,654
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<INTEREST-INCOME> 6,402,996
<OTHER-INCOME> 0
<EXPENSES-NET> 784,975
<NET-INVESTMENT-INCOME> 5,885,852
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<SHARES-REINVESTED> 510
<NET-CHANGE-IN-ASSETS> 22,100,478
<ACCUMULATED-NII-PRIOR> 255,123
<ACCUMULATED-GAINS-PRIOR> (2,941,199)
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<INTEREST-EXPENSE> 0
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<PER-SHARE-NAV-BEGIN> 9.840
<PER-SHARE-NII> 0.240
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<EXPENSE-RATIO> 1.74
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 073
<NAME> The Wachovia Funds
Wachovia Fixed Income Fund
Class Y Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 222,272,666
<INVESTMENTS-AT-VALUE> 225,275,089
<RECEIVABLES> 4,389,474
<ASSETS-OTHER> 3,466
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 229,668,029
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<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 11,990,089
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 216,502,933
<SHARES-COMMON-STOCK> 20,449,870
<SHARES-COMMON-PRIOR> 18,829,643
<ACCUMULATED-NII-CURRENT> 86,654
<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<NET-ASSETS> 203,147,025
<DIVIDEND-INCOME> 267,831
<INTEREST-INCOME> 6,402,996
<OTHER-INCOME> 0
<EXPENSES-NET> 784,975
<NET-INVESTMENT-INCOME> 5,885,852
<REALIZED-GAINS-CURRENT> 965,268
<APPREC-INCREASE-CURRENT> 947,142
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<DISTRIBUTIONS-OF-INCOME> 5,699,521
<DISTRIBUTIONS-OF-GAINS> 0
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<NUMBER-OF-SHARES-SOLD> 3,179,780
<NUMBER-OF-SHARES-REDEEMED> 1,902,470
<SHARES-REINVESTED> 342,917
<NET-CHANGE-IN-ASSETS> 22,100,478
<ACCUMULATED-NII-PRIOR> 255,123
<ACCUMULATED-GAINS-PRIOR> (2,941,199)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 622,986
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 879,020
<AVERAGE-NET-ASSETS> 207,588,063
<PER-SHARE-NAV-BEGIN> 9.850
<PER-SHARE-NII> 0.280
<PER-SHARE-GAIN-APPREC> 0.090
<PER-SHARE-DIVIDEND> 0.290
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.930
<EXPENSE-RATIO> 0.74
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 081
<NAME> The Wachovia Funds
Wachovia Equity Index Fund
Class A Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 191,380,954
<INVESTMENTS-AT-VALUE> 363,285,909
<RECEIVABLES> 746,444
<ASSETS-OTHER> 8,773
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 364,041,126
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 531,954
<TOTAL-LIABILITIES> 531,954
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 188,404,555
<SHARES-COMMON-STOCK> 3,903,640
<SHARES-COMMON-PRIOR> 2,695,619
<ACCUMULATED-NII-CURRENT> 592,972
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,580,205
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 171,931,440
<NET-ASSETS> 82,232,322
<DIVIDEND-INCOME> 2,392,569
<INTEREST-INCOME> 684,800
<OTHER-INCOME> 0
<EXPENSES-NET> 837,741
<NET-INVESTMENT-INCOME> 2,239,628
<REALIZED-GAINS-CURRENT> 3,152,006
<APPREC-INCREASE-CURRENT> 39,535,017
<NET-CHANGE-FROM-OPS> 44,926,651
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 383,763
<DISTRIBUTIONS-OF-GAINS> 1,189,051
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,313,067
<NUMBER-OF-SHARES-REDEEMED> 187,838
<SHARES-REINVESTED> 82,792
<NET-CHANGE-IN-ASSETS> 64,743,198
<ACCUMULATED-NII-PRIOR> 558,633
<ACCUMULATED-GAINS-PRIOR> 5,803,756
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 500,291
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 838,423
<AVERAGE-NET-ASSETS> 335,093,721
<PER-SHARE-NAV-BEGIN> 18.890
<PER-SHARE-NII> 0.010
<PER-SHARE-GAIN-APPREC> 2.690
<PER-SHARE-DIVIDEND> 0.120
<PER-SHARE-DISTRIBUTIONS> 0.400
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 21.070
<EXPENSE-RATIO> 0.70
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 082
<NAME> The Wachovia Funds
Wachovia Equity Index Fund
Class Y Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 191,380,954
<INVESTMENTS-AT-VALUE> 363,285,909
<RECEIVABLES> 746,444
<ASSETS-OTHER> 8,773
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 364,041,126
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 531,954
<TOTAL-LIABILITIES> 531,954
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 188,404,555
<SHARES-COMMON-STOCK> 13,338,817
<SHARES-COMMON-PRIOR> 13,107,447
<ACCUMULATED-NII-CURRENT> 592,972
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 2,580,205
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 171,931,440
<NET-ASSETS> 281,276,850
<DIVIDEND-INCOME> 2,392,569
<INTEREST-INCOME> 684,800
<OTHER-INCOME> 0
<EXPENSES-NET> 837,741
<NET-INVESTMENT-INCOME> 2,239,628
<REALIZED-GAINS-CURRENT> 3,152,006
<APPREC-INCREASE-CURRENT> 39,535,017
<NET-CHANGE-FROM-OPS> 44,926,651
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,821,526
<DISTRIBUTIONS-OF-GAINS> 5,186,506
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,537,816
<NUMBER-OF-SHARES-REDEEMED> 1,668,126
<SHARES-REINVESTED> 361,680
<NET-CHANGE-IN-ASSETS> 64,743,198
<ACCUMULATED-NII-PRIOR> 558,633
<ACCUMULATED-GAINS-PRIOR> 5,803,756
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 500,291
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 838,423
<AVERAGE-NET-ASSETS> 335,093,721
<PER-SHARE-NAV-BEGIN> 18.910
<PER-SHARE-NII> 0.140
<PER-SHARE-GAIN-APPREC> 2.580
<PER-SHARE-DIVIDEND> 0.140
<PER-SHARE-DISTRIBUTIONS> 0.400
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 21.090
<EXPENSE-RATIO> 0.45
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 091
<NAME> The Wachovia Funds
Wachovia Short-Term Fixed Income Fund
Class A Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 111,042,683
<INVESTMENTS-AT-VALUE> 111,343,365
<RECEIVABLES> 1,359,260
<ASSETS-OTHER> 3,833
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 112,706,458
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,326,955
<TOTAL-LIABILITIES> 11,326,955
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 104,798,508
<SHARES-COMMON-STOCK> 961,707
<SHARES-COMMON-PRIOR> 740,426
<ACCUMULATED-NII-CURRENT> 249,622
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,969,309)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 300,682
<NET-ASSETS> 9,402,450
<DIVIDEND-INCOME> 75,206
<INTEREST-INCOME> 3,116,109
<OTHER-INCOME> 0
<EXPENSES-NET> 334,622
<NET-INVESTMENT-INCOME> 2,856,693
<REALIZED-GAINS-CURRENT> 118,576
<APPREC-INCREASE-CURRENT> 124,790
<NET-CHANGE-FROM-OPS> 3,100,059
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 258,511
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 445,858
<NUMBER-OF-SHARES-REDEEMED> 249,721
<SHARES-REINVESTED> 25,144
<NET-CHANGE-IN-ASSETS> 3,083,083
<ACCUMULATED-NII-PRIOR> 439,852
<ACCUMULATED-GAINS-PRIOR> (4,087,885)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 282,063
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 411,809
<AVERAGE-NET-ASSETS> 102,149,134
<PER-SHARE-NAV-BEGIN> 9.770
<PER-SHARE-NII> 0.280
<PER-SHARE-GAIN-APPREC> 0.010
<PER-SHARE-DIVIDEND> 0.280
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.780
<EXPENSE-RATIO> 0.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 092
<NAME> The Wachovia Funds
Wachovia Short-Term Fixed Income Fund
Class Y Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 111,042,683
<INVESTMENTS-AT-VALUE> 111,343,365
<RECEIVABLES> 1,359,260
<ASSETS-OTHER> 3,833
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 112,706,458
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 11,326,955
<TOTAL-LIABILITIES> 11,326,955
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 104,798,508
<SHARES-COMMON-STOCK> 9,407,014
<SHARES-COMMON-PRIOR> 9,322,019
<ACCUMULATED-NII-CURRENT> 249,622
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3,969,309)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 300,682
<NET-ASSETS> 91,977,053
<DIVIDEND-INCOME> 75,206
<INTEREST-INCOME> 3,116,109
<OTHER-INCOME> 0
<EXPENSES-NET> 334,622
<NET-INVESTMENT-INCOME> 2,856,693
<REALIZED-GAINS-CURRENT> 118,576
<APPREC-INCREASE-CURRENT> 124,790
<NET-CHANGE-FROM-OPS> 3,100,059
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 2,788,412
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,281,027
<NUMBER-OF-SHARES-REDEEMED> 1,472,761
<SHARES-REINVESTED> 276,729
<NET-CHANGE-IN-ASSETS> 3,083,083
<ACCUMULATED-NII-PRIOR> 439,852
<ACCUMULATED-GAINS-PRIOR> (4,087,885)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 282,063
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 411,809
<AVERAGE-NET-ASSETS> 102,149,134
<PER-SHARE-NAV-BEGIN> 9.770
<PER-SHARE-NII> 0.070
<PER-SHARE-GAIN-APPREC> 0.230
<PER-SHARE-DIVIDEND> 0.290
<PER-SHARE-DISTRIBUTIONS> 0.000
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 9.780
<EXPENSE-RATIO> 0.62
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 101
<NAME> The Wachovia Funds
Wachovia Special Values Fund
Class A Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 136,510,866
<INVESTMENTS-AT-VALUE> 163,047,240
<RECEIVABLES> 31,335,513
<ASSETS-OTHER> 471
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 194,383,224
<PAYABLE-FOR-SECURITIES> 2,223,612
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 30,800,808
<TOTAL-LIABILITIES> 33,024,420
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 128,306,126
<SHARES-COMMON-STOCK> 3,680,215
<SHARES-COMMON-PRIOR> 2,026,216
<ACCUMULATED-NII-CURRENT> 828,037
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,582,832
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26,641,809
<NET-ASSETS> 66,599,750
<DIVIDEND-INCOME> 826,808
<INTEREST-INCOME> 968,841
<OTHER-INCOME> 0
<EXPENSES-NET> 776,143
<NET-INVESTMENT-INCOME> 1,019,506
<REALIZED-GAINS-CURRENT> 5,547,537
<APPREC-INCREASE-CURRENT> 4,224,151
<NET-CHANGE-FROM-OPS> 10,791,194
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 272,696
<DISTRIBUTIONS-OF-GAINS> 3,883,188
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1,656,731
<NUMBER-OF-SHARES-REDEEMED> 251,669
<SHARES-REINVESTED> 248,937
<NET-CHANGE-IN-ASSETS> 39,092,491
<ACCUMULATED-NII-PRIOR> 737,862
<ACCUMULATED-GAINS-PRIOR> 11,603,810
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 571,852
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 776,143
<AVERAGE-NET-ASSETS> 143,862,783
<PER-SHARE-NAV-BEGIN> 18.640
<PER-SHARE-NII> 0.080
<PER-SHARE-GAIN-APPREC> 1.210
<PER-SHARE-DIVIDEND> 0.120
<PER-SHARE-DISTRIBUTIONS> 1.710
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 18.100
<EXPENSE-RATIO> 1.24
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.000
</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 102
<NAME> The Wachovia Funds
Wachovia Special Values Fund
Class Y Shares
<PERIOD-TYPE> 6-mos
<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
<INVESTMENTS-AT-COST> 136,510,866
<INVESTMENTS-AT-VALUE> 163,047,240
<RECEIVABLES> 31,335,513
<ASSETS-OTHER> 471
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 194,383,224
<PAYABLE-FOR-SECURITIES> 2,223,612
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 30,800,808
<TOTAL-LIABILITIES> 33,024,420
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 128,306,126
<SHARES-COMMON-STOCK> 5,228,497
<SHARES-COMMON-PRIOR> 4,526,418
<ACCUMULATED-NII-CURRENT> 828,037
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,582,832
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 26,641,809
<NET-ASSETS> 94,759,054
<DIVIDEND-INCOME> 826,808
<INTEREST-INCOME> 968,841
<OTHER-INCOME> 0
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<TABLE> <S> <C>
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<NAME> The Wachovia Funds
Wahovia Balanced Fund
Class A Shares
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<TABLE> <S> <C>
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<NAME> The Wachovia Funds
Wahovia Balanced Fund
Class B Shares
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<TABLE> <S> <C>
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<NAME> The Wachovia Funds
Wahovia Balanced Fund
Class Y Shares
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<FISCAL-YEAR-END> Nov-30-1998
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<TABLE> <S> <C>
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<SERIES>
<NUMBER> 121
<NAME> The Wachovia Funds
Wachovia Quantitative Equity Fund
Class A Shares
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<FISCAL-YEAR-END> Nov-30-1998
<PERIOD-END> May-31-1998
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<TABLE> <S> <C>
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<NUMBER> 122
<NAME> The Wachovia Funds
Wachovia Quantitative Equity Fund
Class B Shares
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<PERIOD-END> May-31-1998
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<TABLE> <S> <C>
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<NUMBER> 123
<NAME> The Wachovia Funds
Wachovia Quantitative Equity Fund
Class Y Shares
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<PERIOD-END> May-31-1998
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<TABLE> <S> <C>
<S> <C>
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<SERIES>
<NUMBER> 131
<NAME> The Wachovia Funds
Wachovia Emerging Markets Fund
Class A Shares
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<PERIOD-END> May-31-1998
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<TABLE> <S> <C>
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<NUMBER> 132
<NAME> The Wachovia Funds
Wachovia Emerging Markets Fund
Class Y Shares
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<TABLE> <S> <C>
<S> <C>
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<SERIES>
<NUMBER> 141
<NAME> The Wachovia Funds
Wachovia Growth & Income Fund
Class A Shares
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<PERIOD-END> May-31-1998
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</TABLE>
<TABLE> <S> <C>
<S> <C>
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<SERIES>
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<NAME> The Wachovia Funds
Wachovia Growth & Income Fund
Class Y Shares
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 151
<NAME> The Wachovia Funds
Wachovia Intermediate Fixed Income Fund
Class A Shares
<PERIOD-TYPE> 6-mos
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</TABLE>
<TABLE> <S> <C>
<S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 152
<NAME> The Wachovia Funds
Wachovia Intermediate Fixed Income Fund
Class Y Shares
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<PERIOD-END> May-31-1998
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</TABLE>