BT PYRAMID MUTUAL FUNDS
NSAR-A, 1998-08-31
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<PAGE>      PAGE  1
000 A000000 06/30/98
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  PYRAMID
001 B000000 811-45973
001 C000000 4108953761
002 A000000 1 SOUTH STREET
002 B000000 BALTIMORE
002 C000000 MD
002 D010000 21201
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  2
007 C010100  1
007 C020100 INVESTMENT MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 EQUITY 500 INDEX FUND
007 C030200 N
007 C010300  3
007 C010400  4
007 C010500  5
007 C010600  6
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007 C010800  8
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007 C012400 24
007 C012500 25
<PAGE>      PAGE  2
007 C012600 26
007 C012700 27
007 C012800 28
007 C012900 29
007 C013000 30
010 A00AA01 BANKERS TRUST COMPANY
010 C01AA01 NEW YORK
010 C02AA01 NY
010 C03AA01 10006
011 A00AA01 FEDERATED SERVICES COMPANY
011 B00AA01 8-15561
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 PRICEWATERHOUSE COOPERS LLP
013 B01AA01 BALTIMORE
013 B02AA01 MD
013 B03AA01 21201
015 A00AA01 BANKERS TRUST COMPANY
015 B00AA01 C
015 C01AA01 NEW YORK
015 C02AA01 NY
015 C03AA01 10017
015 E03AA01 X
018  00AA00 Y
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019 C00AA00 BTTINFUNDS
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020 C000003      0
020 C000004      0
020 C000005      0
020 C000006      0
020 C000007      0
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020 C000010      0
021  000000        0
022 A000001 CASH MANAGEMENT PORTFOLIO
022 B000001 04-3086682
022 C000001   2438148
022 D000001   2467910
022 A000002 EQUITY 500 INDEX PORTFOLIO
022 B000002 04-3148831
<PAGE>      PAGE  3
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022 D000002    163695
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<PAGE>      PAGE  4
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055 A00AA00 N
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<PAGE>      PAGE  5
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063 B00AA00  0.0
077 A000000 N
078  000000 N
080 A00AA00 NATIONAL UNION INSURANCE COMPANY
080 C00AA00    13150
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082 A00AA00 Y
082 B00AA00       25
083 A00AA00 N
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<PAGE>      PAGE  6
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066 A000100 N
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070 I020100 N
070 J010100 N
070 J020100 N
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070 K020100 Y
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070 M010100 N
070 M020100 N
<PAGE>      PAGE  7
070 N010100 Y
070 N020100 N
070 O010100 Y
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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066 A000200 Y
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066 F000200 N
066 G000200 Y
067  000200 N
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068 B000200 N
069  000200 Y
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070 A020200 N
070 B010200 Y
070 B020200 N
070 C010200 Y
070 C020200 N
070 D010200 Y
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 Y
070 F020200 N
070 G010200 Y
070 G020200 N
070 H010200 Y
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 Y
070 J020200 N
070 K010200 Y
070 K020200 Y
070 L010200 Y
070 L020200 N
070 M010200 Y
070 M020200 N
070 N010200 Y
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<PAGE>      PAGE  10
070 O020200 N
070 P010200 Y
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
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<PAGE>      PAGE  11
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SIGNATURE   ED VEILLEUX                                  
TITLE       VICE PRESIDENT      
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000884463
<NAME> BT INVESTMENT MONEY MARKET FUND
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                      398,428,068
<INVESTMENTS-AT-VALUE>                     398,428,068
<RECEIVABLES>                                        0
<ASSETS-OTHER>                                  15,262
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                             398,443,330
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                    1,814,632
<TOTAL-LIABILITIES>                          1,814,632
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   396,982,698
<SHARES-COMMON-STOCK>                      396,982,698
<SHARES-COMMON-PRIOR>                      426,744,950
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                               396,628,698
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                           11,683,474
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                 362,677
<NET-INVESTMENT-INCOME>                     11,320,797
<REALIZED-GAINS-CURRENT>                         7,557
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                       11,328,354
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                 (11,320,797)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                  2,430,752,866
<NUMBER-OF-SHARES-REDEEMED>            (2,467,910,161)
<SHARES-REINVESTED>                          7,395,043
<NET-CHANGE-IN-ASSETS>                    (29,754,695)
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                656,675
<AVERAGE-NET-ASSETS>                       429,873,427
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                   0.03
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                                 0
<PER-SHARE-DISTRIBUTIONS>                       (0.03)
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                   0.35
<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
Investment Equity 500 Index Fund Semi Annual Report dated June 30, 1998 and is
qualified in its entirety by reference to such Semi Annual Report
</LEGEND>
<CIK> 0000884463
<NAME> BT INVESTMENT EQUITY 500 INDEX FUND
<SERIES>
   <NUMBER> 2
   <NAME> PYRAMID
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                        802485160
<INVESTMENTS-AT-VALUE>                       802485160
<RECEIVABLES>                                  1154432
<ASSETS-OTHER>                                   26401
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                               803665993
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                      1626893
<TOTAL-LIABILITIES>                            1626893
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                     439627975
<SHARES-COMMON-STOCK>                          5492338
<SHARES-COMMON-PRIOR>                          5101125
<ACCUMULATED-NII-CURRENT>                       361969
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                        2553994
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                     359495162
<NET-ASSETS>                                 802039100
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                    0
<OTHER-INCOME>                                 5509094
<EXPENSES-NET>                                  618641
<NET-INVESTMENT-INCOME>                        4890453
<REALIZED-GAINS-CURRENT>                       4982618
<APPREC-INCREASE-CURRENT>                    107837687
<NET-CHANGE-FROM-OPS>                        117710758
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                      4708125
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                      198809289
<NUMBER-OF-SHARES-REDEEMED>                (151621400)
<SHARES-REINVESTED>                             447256
<NET-CHANGE-IN-ASSETS>                       164637778
<ACCUMULATED-NII-PRIOR>                         181392
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                   (2430375)
<GROSS-ADVISORY-FEES>                                0
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                1122813
<AVERAGE-NET-ASSETS>                         733844635
<PER-SHARE-NAV-BEGIN>                           124.95
<PER-SHARE-NII>                                    .89
<PER-SHARE-GAIN-APPREC>                          21.05
<PER-SHARE-DIVIDEND>                             (.86)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                             143.06
<EXPENSE-RATIO>                                     25
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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