PIC INVESTMENT TRUST
485BXT, 1999-02-04
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          This Amendment to the Registration Statement has been signed
         by the Boards of Trustees of the Registrant and the Portfolios
                                                               File No. 33-44579
                                                                        811-6498
================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 20549
                              --------------------

                                    FORM N-1A

            REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933          [ ]
                          Pre-Effective Amendment No.                        [ ]
                       Post-Effective Amendment No. 28                       [X]

               REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY
                                  ACT OF                                     [ ]
                              Amendment No. 31                               [X]

                              PIC INVESTMENT TRUST
               (Exact name of registrant as specified in charter)

          300 North Lake Avenue
              Pasadena, CA                                         91101-4106
(Address of Principal Executive Offices)                           (Zip Code)

       Registrant's Telephone Number (including area code): (626) 449-8500

                                  THAD M. BROWN
                          Provident Investment Counsel
                              300 North Lake Avenue
                             Pasadena, CA 91101-4106
               (Name and address of agent for service of process)

Approximate Date of Proposed Public Offering:  As soon as practicable  after the
effective date of the registration statement.

It is proposed that this filing will become effective (check appropriate box)

[ ] immediately  upon filing pursuant to paragraph (b)
[X] on March 1, 1999  pursuant to paragraph  (b)
[ ] 60 days after filing  pursuant to paragraph  (a)(i)
[ ] on (date)  pursuant to  paragraph  (a)(i)
[ ] 75 days after filing pursuant to paragraph (a)(ii)
[ ] on (date) pursuant to paragraph (a)(ii) of Rule 485

If appropriate, check the following box
[X] this post-effective  amendment designates a new effective date for
              a previously filed post-effective amendment.



<PAGE>



Registrant  incorporates herein by reference Part A of Post-Effective  Amendment
No. 23 to  Registrant's  Registration  Statement  filed with the  Commission  on
December 10, 1998

Registrant  incorporates herein by reference Part B of Post-Effective  Amendment
No. 23 to  Registrant's  Registration  Statement  filed with the  Commission  on
December 10, 1998.

Registrant  incorporates herein by reference Part C of Post-Effective  Amendment
No. 23 to  Registrant's  Registration  Statement  filed with the  Commission  on
December 10, 1998.


<PAGE>



                                   SIGNATURES

     Pursuant  to  the  requirements  of the  Securities  Act of  1933  and  the
Investment  Company Act of 1940, the  Registrant  certifies that it meets all of
the  requirements  for  effectiveness  of this  amendment  to this  registration
statement  pursuant to Rule 485(b) under the Securities Act of 1933 and has duly
caused  this  Amendment  to the  Registration  Statement  on  Form  N-1A  of PIC
Investment Trust to be signed on its behalf by the  undersigned,  thereunto duly
authorized  in the City of Pasadena  and State of  California  on the 3rd day of
February, 1999.


                                        PIC INVESTMENT TRUST

                                        By Jeffrey J. Miller*
                                           ------------------
                                           Jeffrey J. Miller
                                    President

     This Amendment to the Registration Statement on Form N-1A of PIC Investment
Trust has been signed below by the following persons in the capacities indicated
on February 3, 1999.


Jeffrey J. Miller*                      President and
- ----------------------------            Trustee
Jeffrey J. Miller


Jettie M. Edwards*                      Trustee
- ----------------------------
Jettie M. Edwards


Bernard J. Johnson*                     Trustee
- ----------------------------
Bernard J. Johnson


Jeffrey D. Lovell*                      Trustee
- ----------------------------
Jeffrey D. Lovell


Wayne H. Smith*                         Trustee
- ----------------------------
Wayne H. Smith


Thad M. Brown              *            Treasurer and Principal
- ----------------------------            Financial and Accounting
Thad M. Brown                           Officer


*   Robert H. Wadsworth
    ---------------------
By: Robert H. Wadsworth
    Attorney-in-fact



<PAGE>




                                   SIGNATURES


     PIC Mid Cap  Portfolio has duly caused this  Amendment to the  Registration
Statement on Form N-1A of PIC Investment Trust to be signed on its behalf by the
undersigned,  thereunto  duly  authorized  in the City of Pasadena  and State of
California on the 3rd day of February, 1999.




                                        PIC MID CAP PORTFOLIO

                                        By Jeffrey J. Miller*
                                           ------------------
                                           Jeffrey J. Miller
                                              President

     This Amendment to the Registration Statement on Form N-1A of PIC Investment
Trust has been signed below by the following persons in the capacities indicated
on February 3, 1999.


Jeffrey J. Miller*                      President and Trustee
- ----------------------------            Of PIC Mid Cap Portfolio
Jeffrey J. Miller


Richard N. Frank*                       Trustee of PIC Mid Cap Portfolio
- ----------------------------
Richard N. Frank


James Clayburn LaForce*                 Trustee of PIC Mid Cap Portfolio
- ----------------------------
James Clayburn LaForce


Angelo R. Mozilo*                       Trustee of Pic Mid Cap Portfolio
- ----------------------------
Angelo R. Mozilo


Thad M. Brown*                          Treasurer and Principal Financial and
- ----------------------------            Accounting Officer of PIC Mid Cap
Thad M. Brown                           Portfolio


*   Robert H. Wadsworth
    ---------------------
By: Robert H. Wadsworth
    Attorney-in-fact



<PAGE>




                                   SIGNATURES


     PIC Balanced  Portfolio has duly caused this Amendment to the  Registration
Statement on Form N-1A of PIC Investment Trust to be signed on its behalf by the
undersigned,  thereunto  duly  authorized  in the City of Pasadena  and State of
California on the 3rd day of February, 1999.





                                        PIC BALANCED PORTFOLIO

                                        By Jeffrey J. Miller*
                                           ------------------
                                           Jeffrey J. Miller
                                              President

     This Amendment to the Registration Statement on Form N-1A of PIC Investment
Trust has been signed below by the following persons in the capacities indicated
on February 3, 1999.


Jeffrey J. Miller*                      President and Trustee
- ----------------------------            Of PIC Balanced Portfolio
Jeffrey J. Miller


Richard N. Frank*                       Trustee of PIC Balanced Portfolio
- ----------------------------
Richard N. Frank


James Clayburn LaForce*                 Trustee of PIC Balanced Portfolio
- ----------------------------
James Clayburn LaForce


Angelo R. Mozilo*                       Trustee of Pic Balanced Portfolio
- ----------------------------
Angelo R. Mozilo


Thad M. Brown*                          Treasurer and Principal Financial and
- ------------                            Accounting Officer of PIC Balanced
Thad M. Brown                           Portfolio


*   Robert H. Wadsworth
    ---------------------
By: Robert H. Wadsworth
    Attorney-in-fact



<PAGE>




                                   SIGNATURES


     PIC Small Cap Portfolio has duly caused this Amendment to the  Registration
Statement on Form N-1A of PIC Investment Trust to be signed on its behalf by the
undersigned,  thereunto  duly  authorized  in the City of Pasadena  and State of
California on the 3rd day of February, 1999.


                                        PIC SMALL CAP PORTFOLIO

                                        By Jeffrey J. Miller*
                                           ------------------
                                           Jeffrey J. Miller
                                              President

     This Amendment to the Registration Statement on Form N-1A of PIC Investment
Trust has been signed below by the following persons in the capacities indicated
on February 3, 1999.


Jeffrey J. Miller*                      President and Trustee
- ----------------------------            Of PIC Small Cap Portfolio
Jeffrey J. Miller


Richard N. Frank*                       Trustee of PIC Small Cap Portfolio
- ----------------------------
Richard N. Frank


James Clayburn LaForce*                 Trustee of PIC Small Cap Portfolio
- ----------------------------
James Clayburn LaForce


Angelo R. Mozilo*                       Trustee of PIC Small Cap Portfolio
- ----------------------------
Angelo R. Mozilo


Thad M. Brown*                          Treasurer and Principal Financial and
- ----------------------------            Accounting Officer of PIC Small Cap
Thad M. Brown                           Portfolio


*   Robert H. Wadsworth
    ---------------------
By: Robert H. Wadsworth
    Attorney-in-fact



<PAGE>



                                   SIGNATURES


     PIC Growth  Portfolio  has duly caused this  Amendment to the  Registration
Statement on Form N-1A of PIC Investment Trust to be signed on its behalf by the
undersigned,  thereunto  duly  authorized  in the City of Pasadena  and State of
California on the 3rd day of February, 1999.


                                        PIC GROWTH PORTFOLIO

                                        By Jeffrey J. Miller*
                                           ------------------
                                           Jeffrey J. Miller
                                              President

         This  Amendment  to the  Registration  Statement  on  Form  N-1A of PIC
Investment  Trust  has  been  signed  below  by  the  following  persons  in the
capacities indicated on February 3, 1999.


Jeffrey J. Miller*                      President and Trustee
- ----------------------------            Of PIC Growth Portfolio
Jeffrey J. Miller


Richard N. Frank*                       Trustee of PIC Growth Portfolio
- ----------------------------
Richard N. Frank


James Clayburn LaForce*                 Trustee of PIC Growth Portfolio
- ----------------------------
James Clayburn LaForce


Angelo R. Mozilo*                       Trustee of PIC Growth Portfolio
- ----------------------------
Angelo R. Mozilo


Thad M. Brown*                          Treasurer and Principal Financial and
- ----------------------------            Accounting Officer of PIC Growth
Thad M. Brown                           Portfolio


*   Robert H. Wadsworth
    ---------------------
By: Robert H. Wadsworth
    Attorney-in-fact


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