BT PYRAMID MUTUAL FUNDS
NSAR-A, 1998-06-12
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<PAGE>      PAGE  1
000 A000000 03/31/98
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 PITTSBURG
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  3
007 C010100  1
007 C010200  2
007 C010300  3
007 C020300 LIMITED TERM U.S. GOVERNMENT FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C020500 EQUITY APPRECIATION FUND
007 C030500 N
007 C010600  6
007 C020600 PRESERVATION PLUS FUND
007 C030600 N
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
<PAGE>      PAGE  2
007 C012300 23
007 C012400 24
007 C012500 25
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
007 C013100 31
007 C013200 32
007 C013300 33
007 C013400 34
007 C013500 35
007 C013600 36
007 C013700 37
007 C013800 38
007 C013900 39
007 C014000 40
007 C014100 41
007 C014200 42
007 C014300 43
007 C014400 44
007 C014500 45
007 C014600 46
007 C014700 47
007 C014800 48
007 C014900 49
007 C015000 50
007 C015100 51
007 C015200 52
007 C015300 53
007 C015400 54
007 C015500 55
007 C015600 56
007 C015700 57
007 C015800 58
007 C015900 59
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007 C016300 63
007 C016400 64
007 C016500 65
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007 C016700 67
007 C016800 68
007 C016900 69
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007 C017100 71
007 C017200 72
007 C017300 73
<PAGE>      PAGE  3
007 C017400 74
007 C017500 75
007 C017600 76
007 C017700 77
007 C017800 78
007 C017900 79
007 C018000 80
007 C018100 81
007 C018200 82
007 C018300 83
007 C018400 84
007 C018500 85
007 C018600 86
007 C018700 87
007 C018800 88
007 C018900 89
007 C019000 90
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 & 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 N
019 A00AA00 Y
019 B00AA00   59
019 C00AA00 BTTINFUNDS
020 A000001 ROBINSON HUMPHREY
020 B000001 58-1472560
020 C000001     39
020 A000002 MERRILL LYNCH
<PAGE>      PAGE  4
020 B000002 13-5674085
020 C000002     37
020 A000003 BRIDGE TRADING
020 B000003 43-1450530
020 C000003     29
020 A000004 PAINE WEBBER
020 B000004 13-2638166
020 C000004     23
020 A000005 HOENIG & CO.
020 B000005 13-2656060
020 C000005     20
020 A000006 GERARD KLAUER
020 B000006 13-3459853
020 C000006     12
020 A000007 JEFFERIES & CO.
020 B000007 95-2622900
020 C000007     11
020 A000008 FURMAN SELZ
020 B000008 13-2753731
020 C000008     10
020 A000009 RAYMOND JAMES
020 B000009 59-1237041
020 C000009      6
020 A000010 COWEN & COMPANY
020 B000010 13-5616116
020 C000010      6
021  000000      270
022 A000001 PRESERVATION PLUS PORTFOLIO
022 B000001 23-2871188
022 C000001    128668
022 D000001      5011
022 A000002 SHORT INTERMEDIATE TAX FREE PORTFOLIO
022 B000002 04-3167398
022 C000002      9485
022 D000002      9749
022 A000003 LEHMAN BROTHERS
022 B000003 13-2518466
022 C000003      6651
022 D000003      6627
022 A000004 BEAR STEARNS
022 B000004 13-3299429
022 C000004      6655
022 D000004      6058
022 A000005 FURMAN SELZ
022 B000005 13-2753731
022 C000005      4314
022 D000005      6840
022 A000006 MORGAN STANLEY
022 B000006 13-2655998
022 C000006      4900
022 D000006      5773
<PAGE>      PAGE  5
022 A000007 SMITH BARNEY
022 B000007 13-1912900
022 C000007      5213
022 D000007      4637
022 A000008 UBS SECURITIES
022 B000008 13-2932996
022 C000008      7506
022 D000008      3503
022 A000009 DONALDSON, LUFKIN, JENRETTE
022 B000009 13-2741729
022 C000009      3116
022 D000009      5004
022 A000010 CREDIT SUISSE
022 C000010      2433
022 D000010      4406
023 C000000     222076
023 D000000      85895
024  00AA00 N
025 D00AA01       0
025 D00AA02       0
025 D00AA03       0
025 D00AA04       0
025 D00AA05       0
025 D00AA06       0
025 D00AA07       0
025 D00AA08       0
026 A000000 N
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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
030 A00AA00      0
030 B00AA00  0.00
030 C00AA00  0.00
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
<PAGE>      PAGE  6
042 D00AA00   0
042 E00AA00   0
042 F00AA00   0
042 G00AA00   0
042 H00AA00   0
043  00AA00      0
044  00AA00      0
062 A00AA00 N
062 B00AA00   0.0
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062 D00AA00   0.0
062 E00AA00   0.0
062 F00AA00   0.0
062 G00AA00   0.0
062 H00AA00   0.0
062 I00AA00   0.0
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062 K00AA00   0.0
062 L00AA00   0.0
062 M00AA00   0.0
062 N00AA00   0.0
062 O00AA00   0.0
062 P00AA00   0.0
062 Q00AA00   0.0
062 R00AA00   0.0
077 A000000 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
084 B00AA00        0
085 A00AA00 Y
085 B00AA00 N
086 A010000      0
086 A020000      0
086 B010000      0
086 B020000      0
086 C010000      0
086 C020000      0
086 D010000      0
086 D020000      0
086 E010000      0
086 E020000      0
086 F010000      0
086 F020000      0
028 A010300      1996
<PAGE>      PAGE  7
028 A020300         0
028 A030300         0
028 A040300       994
028 B010300      1814
028 B020300       268
028 B030300         0
028 B040300       830
028 C010300       782
028 C020300       229
028 C030300         0
028 C040300      1001
028 D010300      1984
028 D020300       256
028 D030300         0
028 D040300      1162
028 E010300       979
028 E020300       264
028 E030300         0
028 E040300      2261
028 F010300      1921
028 F020300       468
028 F030300         0
028 F040300     12831
028 G010300      9476
028 G020300      1485
028 G030300         0
028 G040300     19079
028 H000300         0
045  000300 N
048  000300  0.000
048 A010300        0
048 A020300 0.000
048 B010300        0
048 B020300 0.000
048 C010300        0
048 C020300 0.000
048 D010300        0
048 D020300 0.000
048 E010300        0
048 E020300 0.000
048 F010300        0
048 F020300 0.000
048 G010300        0
048 G020300 0.000
048 H010300        0
048 H020300 0.000
048 I010300        0
048 I020300 0.000
048 J010300        0
048 J020300 0.000
048 K010300        0
<PAGE>      PAGE  8
048 K020300 0.000
055 A000300 N
055 B000300 N
056  000300 N
057  000300 N
058 A000300 N
058 B000300 N
058 C000300 N
058 D000300 N
058 E000300 N
059  000300 Y
060 A000300 Y
060 B000300 Y
061  000300    20000
066 A000300 N
067  000300 N
068 A000300 N
068 B000300 N
069  000300 N
070 A010300 Y
070 A020300 N
070 B010300 N
070 B020300 N
070 C010300 Y
070 C020300 N
070 D010300 N
070 D020300 N
070 E010300 Y
070 E020300 N
070 F010300 N
070 F020300 N
070 G010300 Y
070 G020300 N
070 H010300 N
070 H020300 N
070 I010300 N
070 I020300 N
070 J010300 Y
070 J020300 N
070 K010300 Y
070 K020300 Y
070 L010300 N
070 L020300 N
070 M010300 N
070 M020300 N
070 N010300 Y
070 N020300 N
070 O010300 Y
070 O020300 N
070 P010300 Y
070 P020300 N
<PAGE>      PAGE  9
070 Q010300 N
070 Q020300 N
070 R010300 N
070 R020300 N
071 A000300         0
071 B000300         0
071 C000300         0
071 D000300    0
072 A000300  6
072 B000300        0
072 C000300        0
072 D000300        0
072 E000300     1647
072 F000300        0
072 G000300       89
072 H000300        0
072 I000300        0
072 J000300        0
072 K000300        0
072 L000300        8
072 M000300        4
072 N000300        6
072 O000300        0
072 P000300        0
072 Q000300        0
072 R000300        3
072 S000300        2
072 T000300        0
072 U000300        0
072 V000300        0
072 W000300        2
072 X000300      114
072 Y000300       25
072 Z000300     1558
072AA000300      363
072BB000300        0
072CC010300        0
072CC020300      220
072DD010300     1558
072DD020300        0
072EE000300        0
073 A010300   0.2602
073 A020300   0.0000
073 B000300   0.0000
073 C000300   0.0000
074 A000300        0
074 B000300        0
074 C000300        0
074 D000300        0
074 E000300        0
074 F000300        0
<PAGE>      PAGE  10
074 G000300        0
074 H000300        0
074 I000300    58454
074 J000300        0
074 K000300        0
074 L000300        0
074 M000300       17
074 N000300    58471
074 O000300        0
074 P000300       10
074 Q000300        0
074 R010300        0
074 R020300        0
074 R030300        0
074 R040300     9331
074 S000300        0
074 T000300    49130
074 U010300     4969
074 U020300        0
074 V010300     9.89
074 V020300     0.00
074 W000300   0.0000
074 X000300      235
074 Y000300        0
075 A000300        0
075 B000300    59250
076  000300     0.00
028 A010500      8151
028 A020500         0
028 A030500         0
028 A040500     10713
028 B010500      8652
028 B020500         0
028 B030500         0
028 B040500      7723
028 C010500     25294
028 C020500     10600
028 C030500         0
028 C040500     22151
028 D010500     17812
028 D020500         0
028 D030500         0
028 D040500     14221
028 E010500     15320
028 E020500         0
028 E030500         0
028 E040500     16810
028 F010500     27356
028 F020500         0
028 F030500         0
028 F040500     31547
<PAGE>      PAGE  11
028 G010500    102585
028 G020500     10600
028 G030500         0
028 G040500    103165
028 H000500         0
045  000500 Y
048  000500  0.650
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
049  000500 N
050  000500 N
051  000500 N
052  000500 N
053 A000500 Y
054 A000500 Y
054 B000500 Y
054 C000500 Y
054 D000500 N
054 E000500 N
054 F000500 N
054 G000500 Y
054 H000500 Y
054 I000500 N
054 J000500 Y
054 K000500 N
054 L000500 Y
054 M000500 Y
054 N000500 N
054 O000500 N
055 A000500 N
055 B000500 N
<PAGE>      PAGE  12
056  000500 N
057  000500 N
058 A000500 N
058 B000500 N
058 C000500 N
058 D000500 N
058 E000500 N
059  000500 Y
060 A000500 Y
060 B000500 Y
061  000500        0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 Y
066 E000500 N
066 F000500 N
066 G000500 N
067  000500 N
068 A000500 N
068 B000500 N
069  000500 N
070 A010500 Y
070 A020500 N
070 B010500 Y
070 B020500 N
070 C010500 Y
070 C020500 N
070 D010500 Y
070 D020500 N
070 E010500 N
070 E020500 N
070 F010500 Y
070 F020500 N
070 G010500 Y
070 G020500 N
070 H010500 Y
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 N
070 M010500 Y
070 M020500 N
070 N010500 Y
070 N020500 N
070 O010500 Y
<PAGE>      PAGE  13
070 O020500 N
070 P010500 Y
070 P020500 N
070 Q010500 Y
070 Q020500 N
070 R010500 Y
070 R020500 N
071 A000500    148907
071 B000500    149102
071 C000500    157644
071 D000500   94
072 A000500  6
072 B000500      259
072 C000500      258
072 D000500        0
072 E000500        3
072 F000500      540
072 G000500      415
072 H000500        0
072 I000500        0
072 J000500        0
072 K000500        0
072 L000500        8
072 M000500        4
072 N000500       12
072 O000500        0
072 P000500        0
072 Q000500        0
072 R000500       10
072 S000500        2
072 T000500        0
072 U000500        0
072 V000500        0
072 W000500        2
072 X000500      993
072 Y000500      163
072 Z000500     -310
072AA000500     8617
072BB000500        0
072CC010500     4202
072CC020500        0
072DD010500        0
072DD020500        0
072EE000500    10601
073 A010500   0.0000
073 A020500   0.0000
073 B000500   0.9672
073 C000500   0.0000
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074 B000500        0
074 C000500      747
<PAGE>      PAGE  14
074 D000500        0
074 E000500        0
074 F000500   174919
074 G000500        0
074 H000500        0
074 I000500        0
074 J000500     5634
074 K000500        0
074 L000500     1636
074 M000500       21
074 N000500   182957
074 O000500      814
074 P000500      139
074 Q000500        0
074 R010500        0
074 R020500        0
074 R030500        0
074 R040500       66
074 S000500        0
074 T000500   181938
074 U010500    10801
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074 V010500    16.84
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074 Y000500        0
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075 B000500   166625
076  000500     0.00
028 A010600      7000
028 A020600         0
028 A030600         0
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028 D020600       197
028 D030600         0
028 D040600      2216
028 E010600      9954
028 E020600       452
028 E030600         0
028 E040600       430
028 F010600      4977
<PAGE>      PAGE  15
028 F020600      1080
028 F030600         0
028 F040600      1736
028 G010600    128668
028 G020600      1795
028 G030600         0
028 G040600      4897
028 H000600         0
045  000600 N
048  000600  0.000
048 A010600        0
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048 B010600        0
048 B020600 0.000
048 C010600        0
048 C020600 0.000
048 D010600        0
048 D020600 0.000
048 E010600        0
048 E020600 0.000
048 F010600        0
048 F020600 0.000
048 G010600        0
048 G020600 0.000
048 H010600        0
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048 I010600        0
048 I020600 0.000
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055 A000600 N
055 B000600 N
056  000600 N
057  000600 N
058 A000600 N
058 B000600 N
058 C000600 N
058 D000600 N
058 E000600 N
059  000600 Y
060 A000600 Y
060 B000600 Y
061  000600    25000
066 A000600 N
067  000600 N
068 A000600 N
068 B000600 N
069  000600 N
070 A010600 Y
<PAGE>      PAGE  16
070 A020600 N
070 B010600 N
070 B020600 N
070 C010600 Y
070 C020600 N
070 D010600 N
070 D020600 N
070 E010600 Y
070 E020600 N
070 F010600 N
070 F020600 N
070 G010600 Y
070 G020600 N
070 H010600 N
070 H020600 N
070 I010600 N
070 I020600 N
070 J010600 Y
070 J020600 N
070 K010600 Y
070 K020600 Y
070 L010600 N
070 L020600 N
070 M010600 N
070 M020600 N
070 N010600 Y
070 N020600 N
070 O010600 Y
070 O020600 N
070 P010600 Y
070 P020600 N
070 Q010600 N
070 Q020600 N
070 R010600 N
070 R020600 N
071 A000600         0
071 B000600         0
071 C000600         0
071 D000600    0
072 A000600  6
072 B000600        0
072 C000600        0
072 D000600        0
072 E000600     1817
072 F000600        0
072 G000600       78
072 H000600        0
072 I000600        0
072 J000600        0
072 K000600        0
072 L000600        0
<PAGE>      PAGE  17
072 M000600        0
072 N000600        3
072 O000600        0
072 P000600        0
072 Q000600        0
072 R000600        0
072 S000600        0
072 T000600        0
072 U000600        2
072 V000600        0
072 W000600        1
072 X000600       84
072 Y000600       62
072 Z000600     1795
072AA000600       79
072BB000600        0
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072DD010600     1795
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073 A010600   0.2876
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073 B000600   0.0000
073 C000600   0.0000
074 A000600        0
074 B000600        0
074 C000600        0
074 D000600        0
074 E000600        0
074 F000600        0
074 G000600        0
074 H000600        0
074 I000600   125474
074 J000600        0
074 K000600        0
074 L000600        0
074 M000600       93
074 N000600   125567
074 O000600        0
074 P000600        1
074 Q000600        0
074 R010600        0
074 R020600        0
074 R030600        0
074 R040600        0
074 S000600        0
074 T000600   125566
074 U010600     1523
074 U020600    11034
074 V010600    10.00
<PAGE>      PAGE  18
074 V020600    10.00
074 W000600   0.0000
074 X000600       13
074 Y000600        0
075 A000600        0
075 B000600    57272
076  000600     0.00
SIGNATURE   JAY S. NEUMAN                                
TITLE       SECRETARY           
 


<TABLE> <S> <C>


<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the BT
Pyramid Fund Semiannual Report dated March 31, 1998, and is qualified in
its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000884463
<NAME> BT PYRAMID FUNDS
<SERIES>
   <NUMBER> 3
   <NAME> LIMITED TERM U.S. GOVERNMENT FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-START>                             OCT-01-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                         58453904
<INVESTMENTS-AT-VALUE>                        58453904
<RECEIVABLES>                                      595
<ASSETS-OTHER>                                   16867
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                58471366
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      9340934
<TOTAL-LIABILITIES>                            9340934
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                      48792590
<SHARES-COMMON-STOCK>                          4969475
<SHARES-COMMON-PRIOR>                          5790160
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<ACCUMULATED-NET-GAINS>                          55066
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                        282776
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<INTEREST-INCOME>                                    0
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<NET-INVESTMENT-INCOME>                        1558460
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<NUMBER-OF-SHARES-SOLD>                        9476466
<NUMBER-OF-SHARES-REDEEMED>                   19079456
<SHARES-REINVESTED>                            1484937
<NET-CHANGE-IN-ASSETS>                       (7975436)
<ACCUMULATED-NII-PRIOR>                              0
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<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 113433
<AVERAGE-NET-ASSETS>                          59250032
<PER-SHARE-NAV-BEGIN>                             9.86
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<EXPENSE-RATIO>                                     60
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</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the BT
Pyramid Funds Semiannual Report dated March 31, 1998, and is qualified in
its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000884463
<NAME> BT PYRAMID FUNDS
<SERIES>
   <NUMBER> 5
   <NAME> BT PYRAMID EQUITY APPRECIATION FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-START>                             OCT-01-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                        131636545
<INVESTMENTS-AT-VALUE>                       175665850
<RECEIVABLES>                                  7272059
<ASSETS-OTHER>                                   19260
<OTHER-ITEMS-ASSETS>                                 0
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<SENIOR-LONG-TERM-DEBT>                              0
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<SHARES-COMMON-STOCK>                         10801179
<SHARES-COMMON-PRIOR>                         10179900
<ACCUMULATED-NII-CURRENT>                     (310182)
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<ACCUMULATED-NET-GAINS>                        2482752
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                      45666931
<NET-ASSETS>                                 181938066
<DIVIDEND-INCOME>                               258397
<INTEREST-INCOME>                               262261
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                  830840
<NET-INVESTMENT-INCOME>                       (310182)
<REALIZED-GAINS-CURRENT>                       8617103
<APPREC-INCREASE-CURRENT>                      4202242
<NET-CHANGE-FROM-OPS>                         12509163
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<SHARES-REINVESTED>                           10600487
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                 996971
<AVERAGE-NET-ASSETS>                         166624600
<PER-SHARE-NAV-BEGIN>                            16.70
<PER-SHARE-NII>                                  (.03)
<PER-SHARE-GAIN-APPREC>                           1.14
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                          .97
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              16.84
<EXPENSE-RATIO>                                    100
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the BT
Pyramid Preservation Plus Fund Semiannual Report dated March 31, 1998, and
is qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000884463
<NAME> BT PYRAMID FUNDS
<SERIES>
   <NUMBER> 6
   <NAME> PRESERVATION PLUS FUND INSTITUTIONAL CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   4-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-START>                             DEC-12-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                        125474457
<INVESTMENTS-AT-VALUE>                       125474457
<RECEIVABLES>                                    27606
<ASSETS-OTHER>                                   68183
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<DIVIDEND-INCOME>                                    0
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<GROSS-EXPENSE>                                  84646
<AVERAGE-NET-ASSETS>                          92662122
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .17
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<PER-SHARE-DISTRIBUTIONS>                          .17
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.00
<EXPENSE-RATIO>                                     40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>

<TABLE> <S> <C>


<ARTICLE> 6
<LEGEND>
This schedule contains Summary Financial Information extracted from the BT
Pyramid Preservation Plus Fund Semiannual Report dated March 31, 1998, and
is qualified in its entirety by reference to such Semiannual Report.
</LEGEND>
<CIK> 0000884463
<NAME> BT PYRAMID FUNDS
<SERIES>
   <NUMBER> 6
   <NAME> PRESERVATION PLUS INVESTMENT CLASS
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-START>                             OCT-01-1997
<PERIOD-END>                               MAR-31-1998
<INVESTMENTS-AT-COST>                        125474457
<INVESTMENTS-AT-VALUE>                       125474457
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<ASSETS-OTHER>                                   68183
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<TOTAL-ASSETS>                               125570246
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<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         3824
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     125566422
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<EXPENSES-NET>                                   21704
<NET-INVESTMENT-INCOME>                        1795325
<REALIZED-GAINS-CURRENT>                         79169
<APPREC-INCREASE-CURRENT>                      (79169)
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<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       229727
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                       15000050
<NUMBER-OF-SHARES-REDEEMED>                          0
<SHARES-REINVESTED>                             229766
<NET-CHANGE-IN-ASSETS>                       125566422
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
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<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                  84646
<AVERAGE-NET-ASSETS>                           8144802
<PER-SHARE-NAV-BEGIN>                            10.00
<PER-SHARE-NII>                                    .29
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<EXPENSE-RATIO>                                     55
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        


</TABLE>


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