<PAGE> PAGE 1
000 B000000 03/31/97
000 C000000 0000884463
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 PYRAMID FUNDS
001 B000000 811-45973
001 C000000 4122887496
002 A000000 1001 LIBERTY AVENUE
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3775
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C010200 2
007 C010300 3
007 C010400 4
007 C020400 INSTITUTIONAL ASSET MANAGEMENT FUND
007 C030400 N
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
007 C011100 11
007 C011200 12
007 C011300 13
007 C011400 14
007 C011500 15
007 C011600 16
007 C011700 17
007 C011800 18
007 C011900 19
007 C012000 20
007 C012100 21
007 C012200 22
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
<PAGE> PAGE 2
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
008 A00AA01 DELETE
010 A00AA01 BANKERS TRUST COMPANY
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10006
011 A00AA01 FEDERATED SERVICES COMPANY
011 B00AA01 8-41134
011 C01AA01 PITTSBURG
011 C02AA01 PA
011 C03AA01 15222
011 C04AA01 3775
012 A00AA01 BANKERS TRUST COMPANY
012 B00AA01 84-XXXXXXX
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10006
013 A00AA01 COOPERS AND LYBRAND
013 B01AA01 KANSAS CITY
013 B02AA01 MO
013 B03AA01 64105
013 B04AA01 1716
015 A00AA01 BANKERS TRUST COMPANY
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10017
015 E03AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 63
019 C00AA00 BTTINFUNDS
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 1. ASSET MANAGEMENT PORTFOLIO
022 B000001 04-3148798
022 C000001 125017
022 D000001 66504
022 C000002 0
<PAGE> PAGE 3
022 D000002 0
022 C000003 0
022 D000003 0
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022 D000004 0
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022 D000010 0
023 C000000 125017
023 D000000 66504
024 00AA00 N
026 A000000 N
026 B000000 N
026 C000000 Y
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
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030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
034 00AA00 N
035 00AA00 0
036 B00AA00 0
037 00AA00 N
038 00AA00 0
039 00AA00 N
040 00AA00 Y
041 00AA00 N
042 A00AA00 0
042 B00AA00 0
042 C00AA00 0
042 D00AA00 0
042 E00AA00 0
<PAGE> PAGE 4
042 F00AA00 0
042 G00AA00 0
042 H00AA00 0
043 00AA00 0
044 00AA00 0
045 00AA00 N
048 00AA00 0.000
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048 B02AA00 0.000
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048 E02AA00 0.000
048 F01AA00 0
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048 G01AA00 0
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048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
055 A00AA00 N
055 B00AA00 N
056 00AA00 N
057 00AA00 N
058 A00AA00 N
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 2500
062 A00AA00 N
062 B00AA00 0.0
062 C00AA00 0.0
062 D00AA00 0.0
062 E00AA00 0.0
062 F00AA00 0.0
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062 H00AA00 0.0
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062 K00AA00 0.0
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<PAGE> PAGE 5
062 N00AA00 0.0
062 O00AA00 0.0
062 P00AA00 0.0
062 Q00AA00 0.0
062 R00AA00 0.0
077 A000000 N
078 000000 N
080 A00AA00 NATIONAL UNION INSURANCE COMPANY
080 C00AA00 13150
081 A00AA00 Y
081 B00AA00 22
082 A00AA00 Y
082 B00AA00 25
083 A00AA00 N
083 B00AA00 0
084 A00AA00 N
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085 A00AA00 Y
085 B00AA00 N
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028 A010400 10945
028 A020400 1627
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028 A040400 2369
028 B010400 21534
028 B020400 0
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028 B040400 3212
028 C010400 10660
028 C020400 8959
028 C030400 0
028 C040400 5348
<PAGE> PAGE 6
028 D010400 14137
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028 E010400 15563
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028 F020400 1288
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028 F040400 12709
028 G010400 86247
028 G020400 11874
028 G030400 0
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028 H000400 0
029 000400 N
030 A000400 0
030 B000400 0.00
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066 A000400 Y
066 B000400 N
066 C000400 N
066 D000400 N
066 E000400 N
066 F000400 N
066 G000400 Y
067 000400 Y
068 A000400 N
068 B000400 N
069 000400 N
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070 B010400 Y
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070 C010400 Y
070 C020400 N
070 D010400 Y
070 D020400 N
070 E010400 Y
070 E020400 N
070 F010400 Y
070 F020400 N
070 G010400 Y
070 G020400 N
070 H010400 Y
070 H020400 N
070 I010400 Y
070 I020400 N
070 J010400 Y
<PAGE> PAGE 7
070 J020400 N
070 K010400 Y
070 K020400 Y
070 L010400 Y
070 L020400 N
070 M010400 Y
070 M020400 N
070 N010400 Y
070 N020400 N
070 O010400 Y
070 O020400 N
070 P010400 N
070 P020400 N
070 Q010400 Y
070 Q020400 N
070 R010400 Y
070 R020400 N
071 A000400 0
071 B000400 0
071 C000400 0
071 D000400 0
072 A000400 12
072 B000400 0
072 C000400 0
072 D000400 0
072 E000400 6937
072 F000400 0
072 G000400 333
072 H000400 0
072 I000400 0
072 J000400 0
072 K000400 0
072 L000400 38
072 M000400 7
072 N000400 49
072 O000400 0
072 P000400 0
072 Q000400 0
072 R000400 7
072 S000400 5
072 T000400 0
072 U000400 0
072 V000400 0
072 W000400 4
072 X000400 443
072 Y000400 443
072 Z000400 6937
072AA000400 22525
072BB000400 0
072CC010400 0
072CC020400 1720
<PAGE> PAGE 8
072DD010400 8415
072DD020400 0
072EE000400 6469
073 A010400 0.4530
073 A020400 0.0000
073 B000400 0.3223
073 C000400 0.0000
074 A000400 0
074 B000400 0
074 C000400 0
074 D000400 0
074 E000400 0
074 F000400 0
074 G000400 0
074 H000400 0
074 I000400 270496
074 J000400 0
074 K000400 50
074 L000400 956
074 M000400 10
074 N000400 271512
074 O000400 0
074 P000400 0
074 Q000400 0
074 R010400 0
074 R020400 0
074 R030400 0
074 R040400 1197
074 S000400 0
074 T000400 270315
074 U010400 22426
074 U020400 0
074 V010400 12.05
074 V020400 0.00
074 W000400 0.0000
074 X000400 20
074 Y000400 0
075 A000400 0
075 B000400 222280
076 000400 0.00
SIGNATURE J. S. NEUMAN
TITLE SECRETARY
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the BT
Pyramid Institutional Asset Mgmt Fund Annual Report dated March 31, 1997, and is
qualified in its entirety by reference to such Annual Report.
</LEGEND>
<CIK> 0000884463
<NAME> BT PYRAMID FUNDS
<SERIES>
<NUMBER> 4
<NAME> BT PYRAMID INSTITUTIONAL ASSET MGMT FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> MAR-31-1997
<PERIOD-START> APR-01-1996
<PERIOD-END> MAR-31-1997
<INVESTMENTS-AT-COST> 270496347
<INVESTMENTS-AT-VALUE> 270496347
<RECEIVABLES> 1005511
<ASSETS-OTHER> 9906
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 271511764
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1197143
<TOTAL-LIABILITIES> 1197143
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 242808107
<SHARES-COMMON-STOCK> 22426417
<SHARES-COMMON-PRIOR> 16327931
<ACCUMULATED-NII-CURRENT> 532250
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 21335954
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5638310
<NET-ASSETS> 270314621
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 0
<OTHER-INCOME> 6937157
<EXPENSES-NET> 0
<NET-INVESTMENT-INCOME> 6937157
<REALIZED-GAINS-CURRENT> 22524906
<APPREC-INCREASE-CURRENT> (1720429)
<NET-CHANGE-FROM-OPS> 27741634
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8414757
<DISTRIBUTIONS-OF-GAINS> 6468985
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 125920140
<NUMBER-OF-SHARES-REDEEMED> 67111229
<SHARES-REINVESTED> 14881177
<NET-CHANGE-IN-ASSETS> 86547980
<ACCUMULATED-NII-PRIOR> 2009850
<ACCUMULATED-GAINS-PRIOR> 6926484
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 0
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 442962
<AVERAGE-NET-ASSETS> 222279614
<PER-SHARE-NAV-BEGIN> 11.25
<PER-SHARE-NII> .38
<PER-SHARE-GAIN-APPREC> 1.19
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> .77
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.05
<EXPENSE-RATIO> 60
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
