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<PAGE> PAGE 2
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<PAGE> PAGE 5
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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 17
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<PAGE> PAGE 19
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<PAGE> PAGE 20
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<PAGE> PAGE 21
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<PAGE> PAGE 22
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<PAGE> PAGE 23
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<PAGE> PAGE 24
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<PAGE> PAGE 25
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<PAGE> PAGE 26
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<PAGE> PAGE 27
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<PAGE> PAGE 28
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<PAGE> PAGE 29
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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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<PAGE> PAGE 33
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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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<PAGE> PAGE 41
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069 000800 N
070 A010800 Y
070 A020800 Y
070 B010800 Y
070 B020800 N
070 C010800 Y
070 C020800 N
070 D010800 Y
070 D020800 N
070 E010800 Y
070 E020800 N
070 F010800 Y
070 F020800 N
070 G010800 Y
070 G020800 N
070 H010800 Y
070 H020800 N
070 I010800 Y
070 I020800 N
070 J010800 Y
070 J020800 N
070 K010800 Y
070 K020800 Y
070 L010800 Y
070 L020800 N
070 M010800 Y
070 M020800 N
070 N010800 Y
070 N020800 N
070 O010800 Y
070 O020800 N
070 P010800 N
070 P020800 N
070 Q010800 Y
<PAGE> PAGE 42
070 Q020800 N
070 R010800 Y
070 R020800 N
071 A000800 10298
071 B000800 13360
071 C000800 13609
071 D000800 76
072 A000800 6
072 B000800 571
072 C000800 43
072 D000800 0
072 E000800 0
072 F000800 33
072 G000800 0
072 H000800 0
072 I000800 16
072 J000800 10
072 K000800 3
072 L000800 2
072 M000800 1
072 N000800 11
072 O000800 0
072 P000800 0
072 Q000800 0
072 R000800 1
072 S000800 1
072 T000800 33
072 U000800 0
072 V000800 0
072 W000800 47
072 X000800 156
072 Y000800 63
072 Z000800 520
072AA000800 0
072BB000800 633
072CC010800 76
072CC020800 0
072DD010800 107
072DD020800 191
072EE000800 0
073 A010800 0.4653
073 A020800 0.4404
073 B000800 0.0000
073 C000800 0.0000
074 A000800 82
074 B000800 662
074 C000800 0
074 D000800 10878
074 E000800 261
074 F000800 516
074 G000800 0
<PAGE> PAGE 43
074 H000800 0
074 I000800 0
074 J000800 0
074 K000800 75
074 L000800 252
074 M000800 66
074 N000800 12792
074 O000800 289
074 P000800 0
074 Q000800 0
074 R010800 0
074 R020800 0
074 R030800 0
074 R040800 90
074 S000800 0
074 T000800 12413
074 U010800 202
074 U020800 454
074 V010800 12.16
074 V020800 11.90
074 W000800 0.0000
074 X000800 1480
074 Y000800 0
075 A000800 0
075 B000800 14721
076 000800 0.00
028 A010900 3155
028 A020900 255
028 A030900 0
028 A040900 2480
028 B010900 861
028 B020900 249
028 B030900 0
028 B040900 4759
028 C010900 2386
028 C020900 237
028 C030900 0
028 C040900 4369
028 D010900 2076
028 D020900 221
028 D030900 0
028 D040900 3316
028 E010900 10438
028 E020900 233
028 E030900 0
028 E040900 3059
028 F010900 2438
028 F020900 307
028 F030900 0
028 F040900 5645
028 G010900 21354
<PAGE> PAGE 44
028 G020900 1502
028 G030900 0
028 G040900 23628
028 H000900 3022
029 000900 Y
030 A000900 6
030 B000900 4.75
030 C000900 0.00
031 A000900 1
031 B000900 0
032 000900 5
033 000900 0
034 000900 Y
035 000900 78
036 A000900 Y
036 B000900 0
042 A000900 0
042 B000900 0
042 C000900 0
042 D000900 0
042 E000900 0
042 F000900 0
042 G000900 0
042 H000900 100
043 000900 240
044 000900 0
045 000900 Y
046 000900 N
047 000900 Y
048 000900 0.600
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
<PAGE> PAGE 45
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
054 A000900 Y
054 B000900 N
054 C000900 N
054 D000900 N
054 E000900 N
054 F000900 N
054 G000900 Y
054 H000900 Y
054 I000900 N
054 J000900 Y
054 K000900 N
054 L000900 N
054 M000900 Y
054 N000900 N
054 O000900 N
055 A000900 Y
055 B000900 Y
056 000900 Y
057 000900 N
062 A000900 Y
062 B000900 0.0
062 C000900 0.0
062 D000900 12.2
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 0.0
062 N000900 0.0
062 O000900 0.0
062 P000900 85.6
062 Q000900 0.0
062 R000900 4.5
063 A000900 0
063 B000900 6.9
064 A000900 N
064 B000900 Y
065 000900 Y
066 A000900 N
<PAGE> PAGE 46
067 000900 N
068 A000900 N
068 B000900 N
069 000900 N
070 A010900 Y
070 A020900 Y
070 B010900 Y
070 B020900 N
070 C010900 Y
070 C020900 N
070 D010900 Y
070 D020900 N
070 E010900 Y
070 E020900 N
070 F010900 Y
070 F020900 N
070 G010900 Y
070 G020900 N
070 H010900 Y
070 H020900 N
070 I010900 Y
070 I020900 N
070 J010900 Y
070 J020900 Y
070 K010900 Y
070 K020900 N
070 L010900 Y
070 L020900 Y
070 M010900 Y
070 M020900 N
070 N010900 Y
070 N020900 N
070 O010900 Y
070 O020900 Y
070 P010900 N
070 P020900 N
070 Q010900 Y
070 Q020900 N
070 R010900 Y
070 R020900 N
071 A000900 46583
071 B000900 55261
071 C000900 85105
071 D000900 55
072 A000900 6
072 B000900 4284
072 C000900 6
072 D000900 0
072 E000900 85
072 F000900 232
072 G000900 0
<PAGE> PAGE 47
072 H000900 0
072 I000900 87
072 J000900 12
072 K000900 3
072 L000900 10
072 M000900 0
072 N000900 11
072 O000900 0
072 P000900 0
072 Q000900 0
072 R000900 2
072 S000900 3
072 T000900 240
072 U000900 0
072 V000900 0
072 W000900 78
072 X000900 678
072 Y000900 54
072 Z000900 3753
072AA000900 0
072BB000900 3013
072CC010900 292
072CC020900 0
072DD010900 695
072DD020900 1962
072EE000900 0
073 A010900 0.5714
073 A020900 0.5424
073 B000900 0.0000
073 C000900 0.0000
074 A000900 8
074 B000900 9401
074 C000900 0
074 D000900 65923
074 E000900 2093
074 F000900 177
074 G000900 0
074 H000900 0
074 I000900 1205
074 J000900 971
074 K000900 19
074 L000900 1156
074 M000900 66
074 N000900 81019
074 O000900 3119
074 P000900 0
074 Q000900 0
074 R010900 0
074 R020900 0
074 R030900 0
074 R040900 889
<PAGE> PAGE 48
074 S000900 0
074 T000900 77011
074 U010900 932
074 U020900 3633
074 V010900 11.17
074 V020900 11.16
074 W000900 0.0000
074 X000900 4434
074 Y000900 0
075 A000900 0
075 B000900 76793
076 000900 0.00
028 A011000 572
028 A021000 0
028 A031000 0
028 A041000 768
028 B011000 500
028 B021000 0
028 B031000 0
028 B041000 1062
028 C011000 882
028 C021000 108
028 C031000 0
028 C041000 730
028 D011000 796
028 D021000 0
028 D031000 0
028 D041000 489
028 E011000 942
028 E021000 6628
028 E031000 0
028 E041000 884
028 F011000 1129
028 F021000 235
028 F031000 0
028 F041000 1397
028 G011000 4821
028 G021000 6971
028 G031000 0
028 G041000 5330
028 H001000 1807
029 001000 Y
030 A001000 27
030 B001000 5.75
030 C001000 0.00
031 A001000 3
031 B001000 0
032 001000 23
033 001000 0
034 001000 Y
035 001000 19
<PAGE> PAGE 49
036 A001000 Y
036 B001000 0
042 A001000 0
042 B001000 0
042 C001000 0
042 D001000 0
042 E001000 0
042 F001000 0
042 G001000 0
042 H001000 100
043 001000 117
044 001000 0
045 001000 Y
046 001000 N
047 001000 Y
048 001000 0.000
048 A011000 500000
048 A021000 0.750
048 B011000 500000
048 B021000 0.675
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 1000000
048 K021000 0.650
049 001000 N
050 001000 N
051 001000 N
052 001000 N
053 A001000 Y
053 B001000 Y
053 C001000 N
054 A001000 Y
054 B001000 N
054 C001000 N
054 D001000 N
054 E001000 N
054 F001000 N
<PAGE> PAGE 50
054 G001000 Y
054 H001000 Y
054 I001000 N
054 J001000 Y
054 K001000 N
054 L001000 N
054 M001000 Y
054 N001000 N
054 O001000 N
055 A001000 N
055 B001000 N
056 001000 Y
057 001000 N
062 A001000 Y
062 B001000 0.0
062 C001000 0.0
062 D001000 6.1
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 5.2
062 N001000 9.1
062 O001000 0.0
062 P001000 19.8
062 Q001000 6.7
062 R001000 53.1
063 A001000 0
063 B001000 11.1
064 A001000 N
064 B001000 N
066 A001000 N
067 001000 Y
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
<PAGE> PAGE 51
070 F021000 N
070 G011000 Y
070 G021000 N
070 H011000 Y
070 H021000 N
070 I011000 Y
070 I021000 N
070 J011000 Y
070 J021000 N
070 K011000 Y
070 K021000 Y
070 L011000 Y
070 L021000 Y
070 M011000 Y
070 M021000 N
070 N011000 Y
070 N021000 N
070 O011000 Y
070 O021000 N
070 P011000 N
070 P021000 N
070 Q011000 Y
070 Q021000 N
070 R011000 Y
070 R021000 N
071 A001000 16169
071 B001000 16619
071 C001000 34794
071 D001000 46
072 A001000 6
072 B001000 701
072 C001000 196
072 D001000 0
072 E001000 9
072 F001000 142
072 G001000 0
072 H001000 0
072 I001000 40
072 J001000 10
072 K001000 5
072 L001000 4
072 M001000 1
072 N001000 7
072 O001000 0
072 P001000 0
072 Q001000 0
072 R001000 1
072 S001000 1
072 T001000 117
072 U001000 0
072 V001000 0
<PAGE> PAGE 52
072 W001000 64
072 X001000 392
072 Y001000 45
072 Z001000 560
072AA001000 340
072BB001000 0
072CC011000 26
072CC021000 0
072DD011000 230
072DD021000 141
072EE001000 1928
073 A011000 0.3942
073 A021000 0.3322
073 B001000 3.7063
073 C001000 0.0000
074 A001000 8
074 B001000 2284
074 C001000 0
074 D001000 15342
074 E001000 261
074 F001000 19340
074 G001000 0
074 H001000 0
074 I001000 0
074 J001000 113
074 K001000 25
074 L001000 603
074 M001000 30
074 N001000 38006
074 O001000 289
074 P001000 0
074 Q001000 0
074 R011000 0
074 R021000 0
074 R031000 0
074 R041000 170
074 S001000 0
074 T001000 37547
074 U011000 650
074 U021000 461
074 V011000 15.60
074 V021000 16.74
074 W001000 0.0000
074 X001000 2830
074 Y001000 0
075 A001000 0
075 B001000 37462
076 001000 0.00
028 A011100 9128
028 A021100 0
028 A031100 0
<PAGE> PAGE 53
028 A041100 17313
028 B011100 9089
028 B021100 0
028 B031100 0
028 B041100 3872
028 C011100 7921
028 C021100 560
028 C031100 0
028 C041100 3640
028 D011100 6938
028 D021100 0
028 D031100 0
028 D041100 3451
028 E011100 12658
028 E021100 36616
028 E031100 0
028 E041100 6259
028 F011100 19626
028 F021100 491
028 F031100 0
028 F041100 5775
028 G011100 65360
028 G021100 37666
028 G031100 0
028 G041100 40310
028 H001100 18903
029 001100 Y
030 A001100 411
030 B001100 5.75
030 C001100 0.00
031 A001100 54
031 B001100 0
032 001100 358
033 001100 0
034 001100 Y
035 001100 122
036 A001100 Y
036 B001100 0
042 A001100 0
042 B001100 0
042 C001100 0
042 D001100 0
042 E001100 0
042 F001100 0
042 G001100 0
042 H001100 100
043 001100 777
044 001100 0
045 001100 Y
046 001100 N
047 001100 Y
<PAGE> PAGE 54
048 001100 0.000
048 A011100 500000
048 A021100 0.750
048 B011100 500000
048 B021100 0.675
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 1000000
048 K021100 0.650
049 001100 N
050 001100 N
051 001100 N
052 001100 N
053 A001100 Y
053 B001100 Y
053 C001100 N
054 A001100 Y
054 B001100 N
054 C001100 N
054 D001100 N
054 E001100 N
054 F001100 N
054 G001100 Y
054 H001100 Y
054 I001100 N
054 J001100 Y
054 K001100 N
054 L001100 N
054 M001100 Y
054 N001100 N
054 O001100 N
055 A001100 N
055 B001100 N
056 001100 Y
057 001100 N
062 A001100 Y
062 B001100 0.0
<PAGE> PAGE 55
062 C001100 0.0
062 D001100 3.4
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
062 M001100 0.0
062 N001100 0.0
062 O001100 0.0
062 P001100 63.5
062 Q001100 0.0
062 R001100 33.1
063 A001100 0
063 B001100 9.2
064 A001100 N
064 B001100 N
066 A001100 N
067 001100 N
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 N
070 F011100 Y
070 F021100 N
070 G011100 Y
070 G021100 N
070 H011100 Y
070 H021100 N
070 I011100 Y
070 I021100 N
070 J011100 Y
070 J021100 Y
070 K011100 Y
070 K021100 Y
070 L011100 Y
070 L021100 Y
070 M011100 N
070 M021100 N
<PAGE> PAGE 56
070 N011100 Y
070 N021100 N
070 O011100 Y
070 O021100 N
070 P011100 N
070 P021100 N
070 Q011100 Y
070 Q021100 N
070 R011100 Y
070 R021100 N
071 A001100 186887
071 B001100 182193
071 C001100 273029
071 D001100 67
072 A001100 6
072 B001100 2550
072 C001100 1698
072 D001100 0
072 E001100 8
072 F001100 1026
072 G001100 0
072 H001100 0
072 I001100 291
072 J001100 60
072 K001100 32
072 L001100 36
072 M001100 5
072 N001100 11
072 O001100 0
072 P001100 8
072 Q001100 0
072 R001100 8
072 S001100 10
072 T001100 777
072 U001100 0
072 V001100 0
072 W001100 169
072 X001100 2433
072 Y001100 0
072 Z001100 1823
072AA001100 22182
072BB001100 0
072CC011100 60745
072CC021100 0
072DD011100 598
072DD021100 392
072EE001100 10389
073 A011100 0.1986
073 A021100 0.1218
073 B001100 3.6876
073 C001100 0.0000
<PAGE> PAGE 57
074 A001100 4016
074 B001100 12348
074 C001100 0
074 D001100 230430
074 E001100 91887
074 F001100 18203
074 G001100 0
074 H001100 0
074 I001100 0
074 J001100 0
074 K001100 0
074 L001100 6516
074 M001100 23
074 N001100 363423
074 O001100 0
074 P001100 0
074 Q001100 0
074 R011100 0
074 R021100 0
074 R031100 0
074 R041100 790
074 S001100 0
074 T001100 362633
074 U011100 3384
074 U021100 3797
074 V011100 26.24
074 V021100 28.58
074 W001100 0.0000
074 X001100 17767
074 Y001100 0
075 A001100 0
075 B001100 272469
076 001100 0.00
028 A011200 1942
028 A021200 0
028 A031200 0
028 A041200 0
028 B011200 5130
028 B021200 1
028 B031200 0
028 B041200 2836
028 C011200 4309
028 C021200 3
028 C031200 0
028 C041200 1936
028 D011200 5024
028 D021200 10
028 D031200 0
028 D041200 4654
028 E011200 8540
028 E021200 13
<PAGE> PAGE 58
028 E031200 0
028 E041200 5321
028 F011200 26854
028 F021200 15
028 F031200 0
028 F041200 17278
028 G011200 51799
028 G021200 42
028 G031200 0
028 G041200 32025
028 H001200 0
034 001200 Y
035 001200 17
036 A001200 Y
036 B001200 0
042 A001200 0
042 B001200 0
042 C001200 0
042 D001200 0
042 E001200 0
042 F001200 0
042 G001200 0
042 H001200 100
043 001200 25
044 001200 0
045 001200 Y
048 001200 0.000
048 A011200 0
048 A021200 0.000
048 B011200 0
048 B021200 0.000
048 C011200 0
048 C021200 0.000
048 D011200 0
048 D021200 0.000
048 E011200 0
048 E021200 0.000
048 F011200 0
048 F021200 0.000
048 G011200 0
048 G021200 0.000
048 H011200 0
048 H021200 0.000
048 I011200 0
048 I021200 0.000
048 J011200 0
048 J021200 0.000
048 K011200 0
048 K021200 0.000
049 001200 N
050 001200 N
<PAGE> PAGE 59
051 001200 N
052 001200 N
053 A001200 Y
053 B001200 Y
053 C001200 N
054 A001200 Y
054 B001200 N
054 C001200 N
054 D001200 N
054 E001200 N
054 F001200 N
054 G001200 Y
054 H001200 Y
054 I001200 N
054 J001200 Y
054 K001200 N
054 L001200 N
054 M001200 Y
054 N001200 N
054 O001200 N
062 A001200 Y
062 B001200 0.0
062 C001200 0.0
062 D001200 0.0
062 E001200 0.0
062 F001200 0.0
062 G001200 0.0
062 H001200 0.0
062 I001200 0.0
062 J001200 0.0
062 K001200 0.0
062 L001200 100.0
062 M001200 0.0
062 N001200 0.0
062 O001200 0.0
062 P001200 0.0
062 Q001200 0.0
062 R001200 0.0
063 A001200 75
063 B001200 0.0
064 A001200 N
064 B001200 N
066 A001200 N
067 001200 N
068 A001200 N
068 B001200 N
069 001200 N
070 A011200 Y
070 A021200 N
070 B011200 N
070 B021200 N
<PAGE> PAGE 60
070 C011200 N
070 C021200 N
070 D011200 N
070 D021200 N
070 E011200 N
070 E021200 N
070 F011200 N
070 F021200 N
070 G011200 N
070 G021200 N
070 H011200 N
070 H021200 N
070 I011200 N
070 I021200 N
070 J011200 N
070 J021200 N
070 K011200 N
070 K021200 N
070 L011200 N
070 L021200 N
070 M011200 N
070 M021200 N
070 N011200 N
070 N021200 N
070 O011200 N
070 O021200 N
070 P011200 N
070 P021200 N
070 Q011200 N
070 Q021200 N
070 R011200 N
070 R021200 N
071 A001200 0
071 B001200 0
071 C001200 0
071 D001200 0
072 A001200 5
072 B001200 180
072 C001200 0
072 D001200 0
072 E001200 0
072 F001200 0
072 G001200 8
072 H001200 0
072 I001200 1
072 J001200 3
072 K001200 2
072 L001200 2
072 M001200 0
072 N001200 30
072 O001200 0
<PAGE> PAGE 61
072 P001200 0
072 Q001200 0
072 R001200 3
072 S001200 4
072 T001200 25
072 U001200 79
072 V001200 0
072 W001200 17
072 X001200 174
072 Y001200 102
072 Z001200 108
072AA001200 0
072BB001200 0
072CC011200 0
072CC021200 0
072DD011200 14
072DD021200 79
072EE001200 0
073 A011200 0.0141
073 A021200 0.0141
073 B001200 0.0000
073 C001200 0.0000
074 A001200 0
074 B001200 19108
074 C001200 0
074 D001200 0
074 E001200 0
074 F001200 0
074 G001200 0
074 H001200 0
074 I001200 0
074 J001200 0
074 K001200 77
074 L001200 991
074 M001200 41
074 N001200 20217
074 O001200 0
074 P001200 0
074 Q001200 0
074 R011200 0
074 R021200 0
074 R031200 0
074 R041200 401
074 S001200 0
074 T001200 19816
074 U011200 5732
074 U021200 11414
074 V011200 0.00
074 V021200 0.00
074 W001200 1.0000
074 X001200 2116
<PAGE> PAGE 62
074 Y001200 0
075 A001200 7080
075 B001200 0
076 001200 0.00
SIGNATURE MICHAEL J. ROLAND
TITLE CFO
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 11
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 297,304,300
<INVESTMENTS-AT-VALUE> 432,145,351
<RECEIVABLES> 11,658,471
<ASSETS-OTHER> 22,920,077
<OTHER-ITEMS-ASSETS> 46,149
<TOTAL-ASSETS> 466,770,048
<PAYABLE-FOR-SECURITIES> 16,073,243
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 797,341
<TOTAL-LIABILITIES> 16,870,584
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 309,654,824
<SHARES-COMMON-STOCK> 2,930,040
<SHARES-COMMON-PRIOR> 1,071,852
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,258,524)
<ACCUMULATED-NET-GAINS> 6,662,113
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 134,841,051
<NET-ASSETS> 118,231,647
<DIVIDEND-INCOME> 283,411
<INTEREST-INCOME> 362,980
<OTHER-INCOME> 0
<EXPENSES-NET> 1,905,343
<NET-INVESTMENT-INCOME> (1,258,952)
<REALIZED-GAINS-CURRENT> 2,130,380
<APPREC-INCREASE-CURRENT> 119,317,768
<NET-CHANGE-FROM-OPS> 120,189,196
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3,084,624
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 256,187,566
<NUMBER-OF-SHARES-REDEEMED> (28,877,614)
<SHARES-REINVESTED> 2,520,992
<NET-CHANGE-IN-ASSETS> 346,935,516
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 835,391
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,911,397
<AVERAGE-NET-ASSETS> 59,909,851
<PER-SHARE-NAV-BEGIN> 28.09
<PER-SHARE-NII> (0.07)
<PER-SHARE-GAIN-APPREC> 12.71
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 40.35
<EXPENSE-RATIO> 1.26
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 12
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 297,304,300
<INVESTMENTS-AT-VALUE> 432,145,351
<RECEIVABLES> 11,658,471
<ASSETS-OTHER> 22,920,077
<OTHER-ITEMS-ASSETS> 46,149
<TOTAL-ASSETS> 466,770,048
<PAYABLE-FOR-SECURITIES> 16,073,243
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 797,341
<TOTAL-LIABILITIES> 16,870,584
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 309,654,824
<SHARES-COMMON-STOCK> 5,631,296
<SHARES-COMMON-PRIOR> 1,742,728
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,258,524)
<ACCUMULATED-NET-GAINS> 6,662,113
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 134,841,051
<NET-ASSETS> 227,042,117
<DIVIDEND-INCOME> 283,411
<INTEREST-INCOME> 362,980
<OTHER-INCOME> 0
<EXPENSES-NET> 1,905,343
<NET-INVESTMENT-INCOME> (1,258,952)
<REALIZED-GAINS-CURRENT> 2,130,380
<APPREC-INCREASE-CURRENT> 119,317,768
<NET-CHANGE-FROM-OPS> 120,189,196
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3,084,624
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 256,187,566
<NUMBER-OF-SHARES-REDEEMED> (28,877,614)
<SHARES-REINVESTED> 2,520,992
<NET-CHANGE-IN-ASSETS> 346,935,516
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 835,391
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,911,397
<AVERAGE-NET-ASSETS> 112,134,586
<PER-SHARE-NAV-BEGIN> 28.15
<PER-SHARE-NII> (0.13)
<PER-SHARE-GAIN-APPREC> 12.68
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 40.32
<EXPENSE-RATIO> 1.90
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 13
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 297,304,300
<INVESTMENTS-AT-VALUE> 432,145,351
<RECEIVABLES> 11,658,471
<ASSETS-OTHER> 22,920,077
<OTHER-ITEMS-ASSETS> 46,149
<TOTAL-ASSETS> 466,770,048
<PAYABLE-FOR-SECURITIES> 16,073,243
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 797,341
<TOTAL-LIABILITIES> 16,870,584
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 309,654,824
<SHARES-COMMON-STOCK> 2,169,290
<SHARES-COMMON-PRIOR> 632,419
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,258,524)
<ACCUMULATED-NET-GAINS> 6,662,113
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 134,841,051
<NET-ASSETS> 87,228,762
<DIVIDEND-INCOME> 283,411
<INTEREST-INCOME> 362,980
<OTHER-INCOME> 0
<EXPENSES-NET> 1,905,343
<NET-INVESTMENT-INCOME> (1,258,952)
<REALIZED-GAINS-CURRENT> 2,130,380
<APPREC-INCREASE-CURRENT> 119,317,768
<NET-CHANGE-FROM-OPS> 120,189,196
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3,084,624
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 256,187,566
<NUMBER-OF-SHARES-REDEEMED> (28,877,614)
<SHARES-REINVESTED> 2,520,992
<NET-CHANGE-IN-ASSETS> 346,935,516
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 835,391
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,911,397
<AVERAGE-NET-ASSETS> 40,474,383
<PER-SHARE-NAV-BEGIN> 28.07
<PER-SHARE-NII> (0.13)
<PER-SHARE-GAIN-APPREC> 12.65
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 40.21
<EXPENSE-RATIO> 1.90
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 14
<NAME> CLASS Q
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 297,304,300
<INVESTMENTS-AT-VALUE> 432,145,351
<RECEIVABLES> 11,658,471
<ASSETS-OTHER> 22,920,077
<OTHER-ITEMS-ASSETS> 46,149
<TOTAL-ASSETS> 466,770,048
<PAYABLE-FOR-SECURITIES> 16,073,243
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 797,341
<TOTAL-LIABILITIES> 16,870,584
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 309,654,824
<SHARES-COMMON-STOCK> 425,490
<SHARES-COMMON-PRIOR> 212,554
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (1,258,524)
<ACCUMULATED-NET-GAINS> 6,662,113
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 134,841,051
<NET-ASSETS> 17,396,938
<DIVIDEND-INCOME> 283,411
<INTEREST-INCOME> 362,980
<OTHER-INCOME> 0
<EXPENSES-NET> 1,905,343
<NET-INVESTMENT-INCOME> (1,258,952)
<REALIZED-GAINS-CURRENT> 2,130,380
<APPREC-INCREASE-CURRENT> 119,317,768
<NET-CHANGE-FROM-OPS> 120,189,196
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 3,084,624
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 256,187,566
<NUMBER-OF-SHARES-REDEEMED> (28,877,614)
<SHARES-REINVESTED> 2,520,992
<NET-CHANGE-IN-ASSETS> 346,935,516
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 835,391
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,911,397
<AVERAGE-NET-ASSETS> 9,835,765
<PER-SHARE-NAV-BEGIN> 28.43
<PER-SHARE-NII> (0.05)
<PER-SHARE-GAIN-APPREC> 12.89
<PER-SHARE-DIVIDEND> (0.38)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 40.89
<EXPENSE-RATIO> 1.15
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 21
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 213,609,918
<INVESTMENTS-AT-VALUE> 424,763,734
<RECEIVABLES> 2,274,398
<ASSETS-OTHER> 10,872,087
<OTHER-ITEMS-ASSETS> 31,977
<TOTAL-ASSETS> 437,942,196
<PAYABLE-FOR-SECURITIES> 5,973,222
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,082,677
<TOTAL-LIABILITIES> 7,055,899
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 210,919,947
<SHARES-COMMON-STOCK> 4,296,452
<SHARES-COMMON-PRIOR> 3,120,150
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,561,964)
<ACCUMULATED-NET-GAINS> 11,374,498
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 211,153,816
<NET-ASSETS> 110,999,877
<DIVIDEND-INCOME> 107,595
<INTEREST-INCOME> 108,000
<OTHER-INCOME> 0
<EXPENSES-NET> 2,783,684
<NET-INVESTMENT-INCOME> (2,568,089)
<REALIZED-GAINS-CURRENT> 22,451,411
<APPREC-INCREASE-CURRENT> 146,205,625
<NET-CHANGE-FROM-OPS> 166,088,947
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 88,393,788
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 63,746,696
<NUMBER-OF-SHARES-REDEEMED> 69,680,686
<SHARES-REINVESTED> 78,989,743
<NET-CHANGE-IN-ASSETS> 150,750,912
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,159,517
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,783,684
<AVERAGE-NET-ASSETS> 76,379,454
<PER-SHARE-NAV-BEGIN> 21.34
<PER-SHARE-NII> (0.11)
<PER-SHARE-GAIN-APPREC> 11.64
<PER-SHARE-DIVIDEND> (7.03)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 25.84
<EXPENSE-RATIO> 1.35
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 22
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 213,609,918
<INVESTMENTS-AT-VALUE> 424,763,734
<RECEIVABLES> 2,274,398
<ASSETS-OTHER> 10,872,087
<OTHER-ITEMS-ASSETS> 31,977
<TOTAL-ASSETS> 437,942,196
<PAYABLE-FOR-SECURITIES> 5,973,222
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,082,677
<TOTAL-LIABILITIES> 7,055,899
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 210,919,947
<SHARES-COMMON-STOCK> 2,804,402
<SHARES-COMMON-PRIOR> 1,959,417
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,561,964)
<ACCUMULATED-NET-GAINS> 11,374,498
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 211,153,816
<NET-ASSETS> 85,200,916
<DIVIDEND-INCOME> 107,595
<INTEREST-INCOME> 108,000
<OTHER-INCOME> 0
<EXPENSES-NET> 2,783,684
<NET-INVESTMENT-INCOME> (2,568,089)
<REALIZED-GAINS-CURRENT> 22,451,411
<APPREC-INCREASE-CURRENT> 146,205,625
<NET-CHANGE-FROM-OPS> 166,088,947
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 88,393,788
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 63,746,696
<NUMBER-OF-SHARES-REDEEMED> 69,680,686
<SHARES-REINVESTED> 78,989,743
<NET-CHANGE-IN-ASSETS> 150,750,912
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,159,517
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,783,684
<AVERAGE-NET-ASSETS> 57,382,188
<PER-SHARE-NAV-BEGIN> 25.18
<PER-SHARE-NII> (0.19)
<PER-SHARE-GAIN-APPREC> 13.67
<PER-SHARE-DIVIDEND> (8.28)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 30.38
<EXPENSE-RATIO> 1.98
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 23
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 213,609,918
<INVESTMENTS-AT-VALUE> 424,763,734
<RECEIVABLES> 2,274,398
<ASSETS-OTHER> 10,872,087
<OTHER-ITEMS-ASSETS> 31,977
<TOTAL-ASSETS> 437,942,196
<PAYABLE-FOR-SECURITIES> 5,973,222
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,082,677
<TOTAL-LIABILITIES> 7,055,899
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 210,919,947
<SHARES-COMMON-STOCK> 9,255,323
<SHARES-COMMON-PRIOR> 7,323,781
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,561,964)
<ACCUMULATED-NET-GAINS> 11,374,498
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 211,153,816
<NET-ASSETS> 220,867,071
<DIVIDEND-INCOME> 107,595
<INTEREST-INCOME> 108,000
<OTHER-INCOME> 0
<EXPENSES-NET> 2,783,684
<NET-INVESTMENT-INCOME> (2,568,089)
<REALIZED-GAINS-CURRENT> 22,451,411
<APPREC-INCREASE-CURRENT> 146,205,625
<NET-CHANGE-FROM-OPS> 166,088,947
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 88,393,788
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 63,746,696
<NUMBER-OF-SHARES-REDEEMED> 69,680,686
<SHARES-REINVESTED> 78,989,743
<NET-CHANGE-IN-ASSETS> 150,750,912
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,159,517
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,783,684
<AVERAGE-NET-ASSETS> 158,901,064
<PER-SHARE-NAV-BEGIN> 19.78
<PER-SHARE-NII> (0.16)
<PER-SHARE-GAIN-APPREC> 10.74
<PER-SHARE-DIVIDEND> (6.50)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 23.86
<EXPENSE-RATIO> 1.92
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 24
<NAME> CLASS Q
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 213,609,918
<INVESTMENTS-AT-VALUE> 424,763,734
<RECEIVABLES> 2,274,398
<ASSETS-OTHER> 10,872,087
<OTHER-ITEMS-ASSETS> 31,977
<TOTAL-ASSETS> 437,942,196
<PAYABLE-FOR-SECURITIES> 5,973,222
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1,082,677
<TOTAL-LIABILITIES> 7,055,899
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 210,919,947
<SHARES-COMMON-STOCK> 422,591
<SHARES-COMMON-PRIOR> 719,570
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,561,964)
<ACCUMULATED-NET-GAINS> 11,374,498
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 211,153,816
<NET-ASSETS> 13,818,433
<DIVIDEND-INCOME> 107,595
<INTEREST-INCOME> 108,000
<OTHER-INCOME> 0
<EXPENSES-NET> 2,783,684
<NET-INVESTMENT-INCOME> (2,568,089)
<REALIZED-GAINS-CURRENT> 22,451,411
<APPREC-INCREASE-CURRENT> 146,205,625
<NET-CHANGE-FROM-OPS> 166,088,947
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 88,393,788
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 63,746,696
<NUMBER-OF-SHARES-REDEEMED> 69,680,686
<SHARES-REINVESTED> 78,989,743
<NET-CHANGE-IN-ASSETS> 150,750,912
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,159,517
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2,783,684
<AVERAGE-NET-ASSETS> 14,752,756
<PER-SHARE-NAV-BEGIN> 26.94
<PER-SHARE-NII> (0.19)
<PER-SHARE-GAIN-APPREC> 14.85
<PER-SHARE-DIVIDEND> (8.90)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 32.70
<EXPENSE-RATIO> 1.25
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 31
<NAME> CLASS A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 256,456,789
<INVESTMENTS-AT-VALUE> 446,278,607
<RECEIVABLES> 7,267,638
<ASSETS-OTHER> 12,950
<OTHER-ITEMS-ASSETS> 48,619
<TOTAL-ASSETS> 453,607,814
<PAYABLE-FOR-SECURITIES> 1,052,907
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,217,566
<TOTAL-LIABILITIES> 3,270,473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 279,553,816
<SHARES-COMMON-STOCK> 8,462,791
<SHARES-COMMON-PRIOR> 5,380,592
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,946,828)
<ACCUMULATED-NET-GAINS> (16,091,465)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 189,821,818
<NET-ASSETS> 148,392,238
<DIVIDEND-INCOME> 158,187
<INTEREST-INCOME> 338,541
<OTHER-INCOME> 11,984
<EXPENSES-NET> 3,460,920
<NET-INVESTMENT-INCOME> (2,952,208)
<REALIZED-GAINS-CURRENT> 57,341,218
<APPREC-INCREASE-CURRENT> 105,716,659
<NET-CHANGE-FROM-OPS> 160,105,669
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 158,398,582
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<NUMBER-OF-SHARES-SOLD> 78,093,569
<NUMBER-OF-SHARES-REDEEMED> 82,840,952
<SHARES-REINVESTED> 136,804,915
<NET-CHANGE-IN-ASSETS> 133,764,619
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,717,149
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,460,920
<AVERAGE-NET-ASSETS> 112,770,046
<PER-SHARE-NAV-BEGIN> 19.08
<PER-SHARE-NII> (.09)
<PER-SHARE-GAIN-APPREC> 8.27
<PER-SHARE-DIVIDEND> (9.73)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.53
<EXPENSE-RATIO> 1.59
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 32
<NAME> CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 256,456,789
<INVESTMENTS-AT-VALUE> 446,278,607
<RECEIVABLES> 7,267,638
<ASSETS-OTHER> 12,950
<OTHER-ITEMS-ASSETS> 48,619
<TOTAL-ASSETS> 453,607,814
<PAYABLE-FOR-SECURITIES> 1,052,907
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,217,566
<TOTAL-LIABILITIES> 3,270,473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 279,553,816
<SHARES-COMMON-STOCK> 3,486,799
<SHARES-COMMON-PRIOR> 2,005,763
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,946,828)
<ACCUMULATED-NET-GAINS> (16,091,465)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 189,821,818
<NET-ASSETS> 76,896,757
<DIVIDEND-INCOME> 158,187
<INTEREST-INCOME> 338,541
<OTHER-INCOME> 11,984
<EXPENSES-NET> 3,460,920
<NET-INVESTMENT-INCOME> (2,952,208)
<REALIZED-GAINS-CURRENT> 57,341,218
<APPREC-INCREASE-CURRENT> 105,716,659
<NET-CHANGE-FROM-OPS> 160,105,669
<EQUALIZATION> 0
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<NUMBER-OF-SHARES-SOLD> 78,093,569
<NUMBER-OF-SHARES-REDEEMED> 82,840,952
<SHARES-REINVESTED> 136,804,915
<NET-CHANGE-IN-ASSETS> 133,764,619
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,717,149
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,460,920
<AVERAGE-NET-ASSETS> 55,725,351
<PER-SHARE-NAV-BEGIN> 24.05
<PER-SHARE-NII> (0.16)
<PER-SHARE-GAIN-APPREC> 10.40
<PER-SHARE-DIVIDEND> (12.24)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.05
<EXPENSE-RATIO> 2.24
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 33
<NAME> CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 256,456,789
<INVESTMENTS-AT-VALUE> 446,278,607
<RECEIVABLES> 7,267,638
<ASSETS-OTHER> 12,950
<OTHER-ITEMS-ASSETS> 48,619
<TOTAL-ASSETS> 453,607,814
<PAYABLE-FOR-SECURITIES> 1,052,907
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,217,566
<TOTAL-LIABILITIES> 3,270,473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 279,553,816
<SHARES-COMMON-STOCK> 12,408,565
<SHARES-COMMON-PRIOR> 8,158,236
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,946,828)
<ACCUMULATED-NET-GAINS> (16,091,465)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 189,821,818
<NET-ASSETS> 213,993,524
<DIVIDEND-INCOME> 158,187
<INTEREST-INCOME> 338,541
<OTHER-INCOME> 11,984
<EXPENSES-NET> 3,460,920
<NET-INVESTMENT-INCOME> (2,952,208)
<REALIZED-GAINS-CURRENT> 57,341,218
<APPREC-INCREASE-CURRENT> 105,716,659
<NET-CHANGE-FROM-OPS> 160,105,669
<EQUALIZATION> 0
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<NUMBER-OF-SHARES-SOLD> 78,093,569
<NUMBER-OF-SHARES-REDEEMED> 82,840,952
<SHARES-REINVESTED> 136,804,915
<NET-CHANGE-IN-ASSETS> 133,764,619
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,717,149
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,460,920
<AVERAGE-NET-ASSETS> 164,242,450
<PER-SHARE-NAV-BEGIN> 18.81
<PER-SHARE-NII> (0.13)
<PER-SHARE-GAIN-APPREC> 8.14
<PER-SHARE-DIVIDEND> (9.57)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 17.25
<EXPENSE-RATIO> 2.24
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 34
<NAME> CLASS Q
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 256,456,789
<INVESTMENTS-AT-VALUE> 446,278,607
<RECEIVABLES> 7,267,638
<ASSETS-OTHER> 12,950
<OTHER-ITEMS-ASSETS> 48,619
<TOTAL-ASSETS> 453,607,814
<PAYABLE-FOR-SECURITIES> 1,052,907
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2,217,566
<TOTAL-LIABILITIES> 3,270,473
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 279,553,816
<SHARES-COMMON-STOCK> 566,739
<SHARES-COMMON-PRIOR> 519,825
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> (2,946,828)
<ACCUMULATED-NET-GAINS> (16,091,465)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 189,821,818
<NET-ASSETS> 11,054,822
<DIVIDEND-INCOME> 158,187
<INTEREST-INCOME> 338,541
<OTHER-INCOME> 11,984
<EXPENSES-NET> 3,460,920
<NET-INVESTMENT-INCOME> (2,952,208)
<REALIZED-GAINS-CURRENT> 57,341,218
<APPREC-INCREASE-CURRENT> 105,716,659
<NET-CHANGE-FROM-OPS> 160,105,669
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
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<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 78,093,569
<NUMBER-OF-SHARES-REDEEMED> 82,840,952
<SHARES-REINVESTED> 136,804,915
<NET-CHANGE-IN-ASSETS> 133,764,619
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,717,149
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 3,460,920
<AVERAGE-NET-ASSETS> 8,823,171
<PER-SHARE-NAV-BEGIN> 21.19
<PER-SHARE-NII> (0.09)
<PER-SHARE-GAIN-APPREC> 9.22
<PER-SHARE-DIVIDEND> (10.81)
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 19.51
<EXPENSE-RATIO> 1.49
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 41
<NAME> PILGRIM WORLDWIDE GROWTH FUND CLASS A
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLAR
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 285,746,310
<INVESTMENTS-AT-VALUE> 448,254,573
<RECEIVABLES> 10,183,340
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<OTHER-ITEMS-ASSETS> 18,036,402
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<PAYABLE-FOR-SECURITIES> 9,072,436
<SENIOR-LONG-TERM-DEBT> 0
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<PAID-IN-CAPITAL-COMMON> 299,830,877
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<EXPENSES-NET> 2,944,474
<NET-INVESTMENT-INCOME> (2,251,456)
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<NUMBER-OF-SHARES-SOLD> 3,657,074
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<GROSS-EXPENSE> 2,944,474
<AVERAGE-NET-ASSETS> 94,574,000
<PER-SHARE-NAV-BEGIN> 23.58
<PER-SHARE-NII> (0.11)
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<EXPENSE-RATIO> 1.61
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 42
<NAME> PILGRIM WORLDWIDE GROWTH FUND CLASS B
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLAR
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
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<PAID-IN-CAPITAL-COMMON> 299,830,877
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<SHARES-COMMON-PRIOR> 1,048,574
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<EXPENSES-NET> 2,944,474
<NET-INVESTMENT-INCOME> (2,251,456)
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<PER-SHARE-NAV-BEGIN> 26.64
<PER-SHARE-NII> (0.17)
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<EXPENSE-RATIO> 2.26
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 43
<NAME> PILGRIM WORLDWIDE GROWTH FUND CLASS C
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLAR
<S> <C>
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<FISCAL-YEAR-END> JUN-30-2000
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<PAID-IN-CAPITAL-COMMON> 299,830,877
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<EXPENSE-RATIO> 2.26
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 44
<NAME> PILGRIM WORLDWIDE GROWTH FUND CLASS Q
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLAR
<S> <C>
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<FISCAL-YEAR-END> JUN-30-2000
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<EXPENSE-RATIO> 1.51
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 51
<NAME> PILGRIM INT'L CORE GROWTH FUND CLASS A
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUN-30-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 47,315,847
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<SHARES-COMMON-STOCK> 711,486
<SHARES-COMMON-PRIOR> 656,006
<ACCUMULATED-NII-CURRENT> 0
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<ACCUM-APPREC-OR-DEPREC> 28,312,668
<NET-ASSETS> 19,460,387
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<EXPENSES-NET> 569,672
<NET-INVESTMENT-INCOME> (485,363)
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<NET-CHANGE-FROM-OPS> 25,718,258
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<NUMBER-OF-SHARES-SOLD> 1,695,962
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<SHARES-REINVESTED> 33,298
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<NAME> PILGRIM INT'L CORE GROWTH FUND CLASS B
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<NAME> PILGRIM INT'L CORE GROWTH FUND CLASS C
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM INT'L CORE GROWTH FUND CLASS Q
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM INT'L SMALLCAP GROWTH FUND CLASS A
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM INT'L SMALLCAP GROWTH FUND CLASS B
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM INT'L SMALLCAP GROWTH FUND CLASS C
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM EMERGING COUNTRIES FUND CLASS A
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM EMERGING COUNTRIES FUND CLASS B
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<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
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<NUMBER> 73
<NAME> PILGRIM EMERGING COUNTRIES FUND CLASS C
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<S> <C>
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<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 74
<NAME> PILGRIM EMERGING COUNTRIES FUND CLASS Q
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
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<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 81
<NAME> PILGRIM STRATEGIC INCOME FUND CLASS A
<S> <C>
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</TABLE>
<TABLE> <S> <C>
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<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 82
<NAME> PILGRIM STRATEGIC INCOME FUND CLASS B
<S> <C>
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<TABLE> <S> <C>
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<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 83
<NAME> PILGRIM STRATEGIC INCOME FUND CLASS C
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 84
<NAME> PILGRIM STRATEGIC INCOME FUND CLASS Q
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<S> <C>
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</TABLE>
<TABLE> <S> <C>
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<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 91
<NAME> PILGRIM HIGH YIELD FUND II CLASS A
<S> <C>
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</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 92
<NAME> PILGRIM HIGH YIELD FUND II CLASS B
<S> <C>
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM MUTUAL FUNDS
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<NAME> PILGRIM MUTUAL FUNDS
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<PER-SHARE-GAIN-APPREC> 7.25
<PER-SHARE-DIVIDEND> 0.12
<PER-SHARE-DISTRIBUTIONS> 4.01
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 28.58
<EXPENSE-RATIO> 1.98
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 113
<NAME> PILGRIM CONVERTIBLE FUND CLASS C
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 242,240,255
<INVESTMENTS-AT-VALUE> 352,868,062
<RECEIVABLES> 6,515,924
<ASSETS-OTHER> 23,417
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 363,423,486
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 790,584
<TOTAL-LIABILITIES> 790,584
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 236,117,741
<SHARES-COMMON-STOCK> 4,951,288
<SHARES-COMMON-PRIOR> 4,217,155
<ACCUMULATED-NII-CURRENT> 276,833
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,610,521
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 110,627,807
<NET-ASSETS> 132,755,648
<DIVIDEND-INCOME> 1,698,167
<INTEREST-INCOME> 2,549,836
<OTHER-INCOME> 8,559
<EXPENSES-NET> 2,433,113
<NET-INVESTMENT-INCOME> 1,823,449
<REALIZED-GAINS-CURRENT> 22,182,264
<APPREC-INCREASE-CURRENT> 60,745,085
<NET-CHANGE-FROM-OPS> 84,750,798
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,741,953
<DISTRIBUTIONS-OF-GAINS> 42,129,282
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 457,148
<NUMBER-OF-SHARES-REDEEMED> 325,484
<SHARES-REINVESTED> 589,483
<NET-CHANGE-IN-ASSETS> 103,595,592
<ACCUMULATED-NII-PRIOR> 195,337
<ACCUMULATED-GAINS-PRIOR> 35,557,539
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,025,999
<INTEREST-EXPENSE> 8,176
<GROSS-EXPENSE> 2,449,232
<AVERAGE-NET-ASSETS> 24,364,721
<PER-SHARE-NAV-BEGIN> 23.78
<PER-SHARE-NII> 0.13
<PER-SHARE-GAIN-APPREC> 6.78
<PER-SHARE-DIVIDEND> 0.12
<PER-SHARE-DISTRIBUTIONS> 3.76
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 26.81
<EXPENSE-RATIO> 1.98
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 114
<NAME> PILGRIM CONVERTIBLE FUND CLASS Q
<MULTIPLIER> 1
<CURRENCY> U.S. DOLLARS
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-01-1999
<PERIOD-END> DEC-31-1999
<EXCHANGE-RATE> 1
<INVESTMENTS-AT-COST> 242,240,255
<INVESTMENTS-AT-VALUE> 352,868,062
<RECEIVABLES> 6,515,924
<ASSETS-OTHER> 23,417
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 363,423,486
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 790,584
<TOTAL-LIABILITIES> 790,584
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 236,117,741
<SHARES-COMMON-STOCK> 1,281,758
<SHARES-COMMON-PRIOR> 778,944
<ACCUMULATED-NII-CURRENT> 276,833
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 15,610,521
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 110,627,807
<NET-ASSETS> 32,534,594
<DIVIDEND-INCOME> 1,698,167
<INTEREST-INCOME> 2,549,836
<OTHER-INCOME> 8,559
<EXPENSES-NET> 2,433,113
<NET-INVESTMENT-INCOME> 1,823,449
<REALIZED-GAINS-CURRENT> 22,182,264
<APPREC-INCREASE-CURRENT> 60,745,085
<NET-CHANGE-FROM-OPS> 84,750,798
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1,741,953
<DISTRIBUTIONS-OF-GAINS> 42,129,282
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 451,591
<NUMBER-OF-SHARES-REDEEMED> 86,875
<SHARES-REINVESTED> 136,398
<NET-CHANGE-IN-ASSETS> 103,595,592
<ACCUMULATED-NII-PRIOR> 195,337
<ACCUMULATED-GAINS-PRIOR> 35,557,539
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1,025,999
<INTEREST-EXPENSE> 8,176
<GROSS-EXPENSE> 2,449,232
<AVERAGE-NET-ASSETS> 81,115,580
<PER-SHARE-NAV-BEGIN> 22.51
<PER-SHARE-NII> 0.20
<PER-SHARE-GAIN-APPREC> 6.45
<PER-SHARE-DIVIDEND> 0.21
<PER-SHARE-DISTRIBUTIONS> 3.57
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 25.38
<EXPENSE-RATIO> 1.23
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 121
<NAME> PILGRIM MONEY MARKET FUND CLASS A
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> NOV-24-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 19,107,000
<INVESTMENTS-AT-VALUE> 19,107,000
<RECEIVABLES> 1,068,147
<ASSETS-OTHER> 41,553
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,217,400
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 401,057
<TOTAL-LIABILITIES> 401,057
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,816,343
<SHARES-COMMON-STOCK> 5,732,378
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 5,732,378
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 180,467
<OTHER-INCOME> 0
<EXPENSES-NET> 72,211
<NET-INVESTMENT-INCOME> 108,256
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 108,256
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 15,193,712
<NUMBER-OF-SHARES-REDEEMED> 9,461,717
<SHARES-REINVESTED> 383
<NET-CHANGE-IN-ASSETS> 19,816,343
<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> 174,125
<AVERAGE-NET-ASSETS> 3,751,486
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.004
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.004
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.0
<EXPENSE-RATIO> 1.50
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 122
<NAME> PILGRIM MONEY MARKET FUND CLASS B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-12-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 19,107,000
<INVESTMENTS-AT-VALUE> 19,107,000
<RECEIVABLES> 1,068,147
<ASSETS-OTHER> 41,553
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,217,400
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 401,057
<TOTAL-LIABILITIES> 401,057
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,816,343
<SHARES-COMMON-STOCK> 11,414,054
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 11,414,054
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 180,467
<OTHER-INCOME> 0
<EXPENSES-NET> 72,211
<NET-INVESTMENT-INCOME> 108,256
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 108,256
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 26,877,937
<NUMBER-OF-SHARES-REDEEMED> 15,499,789
<SHARES-REINVESTED> 35,906
<NET-CHANGE-IN-ASSETS> 19,816,343
<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> 174,125
<AVERAGE-NET-ASSETS> 5,228,387
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 2.25
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 895430
<NAME> PILGRIM MUTUAL FUNDS
<SERIES>
<NUMBER> 123
<NAME> PILGRIM MONEY MARKET FUND CLASS C
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> JUN-30-2000
<PERIOD-START> JUL-12-1999
<PERIOD-END> DEC-31-1999
<INVESTMENTS-AT-COST> 19,107,000
<INVESTMENTS-AT-VALUE> 19,107,000
<RECEIVABLES> 1,068,147
<ASSETS-OTHER> 41,553
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 20,217,400
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 401,057
<TOTAL-LIABILITIES> 401,057
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 19,816,343
<SHARES-COMMON-STOCK> 2,669,911
<SHARES-COMMON-PRIOR> 0
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 2,669,911
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 180,467
<OTHER-INCOME> 0
<EXPENSES-NET> 72,211
<NET-INVESTMENT-INCOME> 108,256
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 0
<EQUALIZATION> 108,256
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 9,726,379
<NUMBER-OF-SHARES-REDEEMED> 7,062,464
<SHARES-REINVESTED> 5,996
<NET-CHANGE-IN-ASSETS> 19,816,343
<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> 174,125
<AVERAGE-NET-ASSETS> 3,751,486
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.01
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.01
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 2.25
</TABLE>
SHAREHOLDER MEETINGS
- --------------------------------------------------------------------------------
I. A special meeting of the shareholders of the Pilgrim Mutual Funds was held in
San Diego, California on October 26, 1999. A brief description of each matter
voted upon as well as the results are outlined below:
<TABLE>
<CAPTION>
Shares
Shares voted against Shares Broker
voted for or withheld abstained non-vote Total
------------- --------------- ----------- ---------- -------------
<S> <C> <C> <C> <C> <C>
1. Election of Trustees to serve until the election and qualifications of their successors:
Name
- ----
Mary A. Baldwin 173,566,928 3,019,701 -- -- 176,586,629
Al Burton 173,526,092 3,110,537 -- -- 176,536,629
Paul S. Doherty 173,562,130 3,024,499 -- -- 176,586,629
Robert B. Goode, Jr. 173,524,538 3,062,091 -- -- 176,586,629
Alan L. Gosule 173,601,730 2,984,899 -- -- 176,586,629
Mark Lipson 173,603,955 2,982,674 -- -- 176,586,629
Walter H. May 173,589,664 2,966,965 -- -- 176,586,629
Jock Patton 173,607,208 2,979,421 -- -- 176,586,629
David W.C. Putnam 173,596,791 2,989,838 -- -- 176,586,629
John R. Smith 173,440,576 3,146,053 -- -- 176,586,629
Robert W. Stallings 173,605,732 2,980,897 -- -- 176,586,629
John G. Turner 173,594,721 2,991,908 -- -- 176,586,629
David W. Wallace 173,459,812 3,125,817 -- -- 176,586,629
2. Approval of the selection of independent public accountants, KPMG LLP, for the fiscal year ended June 30, 2000
Fund
- ----
Pilgrim Bank & Thrift Fund, Inc. 22,631,201 506,895 -- -- 23,138,096
Pilgrim Advisory Funds, Inc. 7,158,402 124,438 -- -- 7,282,840
Pilgrim Investment Funds, Inc. 72,087,236 2,071,003 -- -- 74,158,239
Pilgrim Mutual Funds 68,230,426 1,675,090 -- -- 69,905,516
3.a. Approval of the management agreement between Pilgrim Mutual Funds and Nicholas Applegate
Fund
- ----
Pilgrim Convertible Fund 7,745,962 390,963 -- -- 8,137,925
Pilgrim Emerging Countries Fund 7,742,317 153,510 -- -- 7,895,827
Pilgrim Int'l Core Growth Fund 1,572,037 41,967 -- -- 1,614,004
Pilgrim Int'l SmallCap Growth Fund 3,481,258 94,125 -- -- 3,575,383
Pilgrim LargeCap Growth Fund 4,102,660 150,348 -- -- 4,253,008
Pilgrim MidCap Growth Fund 10,912,221 629,116 -- -- 11,541,337
Pilgrim SmallCap Growth Fund 13,534,326 717,130 -- -- 14,251,456
Pilgrim Worldwide Growth Fund 8,123,819 618,136 -- -- 8,741,955
3.b. Approval of the management agreement between Pilgrim Mutual Funds and HSBC
Fund
- ----
Pilgrim Asia-Pacific Equity Fund 2,788,432 130,823 -- -- 2,919,255
4. Approval of sub-advisory between Pilgrim Investments, Inc. and the Funds
Fund
- ----
Pilgrim Bank & Thrift Fund, Inc. 22,043,033 1,095,063 -- -- 23,138,095
Pilgrim LargeCap Leaders Fund 1,667,693 38,937 -- -- 1,706,630
Pilgrim MidCap Value Fund 2,586,750 70,205 -- -- 2,656,955
Pilgrim Asia-Pacific Equity Fund 2,877,917 41,338 -- -- 2,919,255
Pilgrim MagnaCap Fund 16,433,186 953,331 -- -- 17,386,517
Pilgrim High Yield Fund 54,078,191 2,693,531 -- -- 56,771,722
Pilgrim Balanced Fund 1,573,739 58,095 -- -- 1,631,834
Pilgrim Convertible Fund 7,702,985 434,940 -- -- 8,137,925
Pilgrim Emerging Countries Fund 7,735,262 160,565 -- -- 7,895,827
Pilgrim High Yield II Fund 5,259,680 201,342 -- -- 5,461,022
Pilgrim Strategic Income Fund 998,479 41,275 -- -- 1,039,754
Pilgrim Int'l Core Growth Fund 1,576,276 37,728 -- -- 1,614,004
Pilgrim Int'l SmallCap Growth Fund 3,483,148 92,235 -- -- 3,575,383
Pilgrim LargeCap Growth Fund 4,116,432 136,576 -- -- 4,253,008
Pilgrim MidCap Growth Fund 10,794,994 746,343 -- -- 11,541,337
Pilgrim SmallCap Growth Fund 13,511,955 739,501 -- -- 14,251,456
Pilgrim Worldwide Growth Fund 8,086,550 655,405 -- -- 8,741,955
Pilgrim Money Market Fund 1,762,011 0 -- -- 1,762,011
</TABLE>
<PAGE>
TAX INFORMATION (unaudited)
- --------------------------------------------------------------------------------
Corporate shareholders are generally entitled to take the dividend received
deduction on the portion of the Funds' dividend distribution that qualifies
under tax law. The percentage of calendar year 1999 net investment income
dividends that qualify for the corporate dividends received deduction are as
follows:
MagnaCap Fund 99.89%
Bank and Thrift Fund 100%
Strategic Income Fund 7.39%
Shareholders are strongly advised to consult their own tax advisers with respect
to the tax consequences of their investments in the Funds. In January 2000,
shareholders, excluding corporate shareholders, should have received an IRS Form
1099 DIV regarding their federal tax status of the dividends and distributions
received from them in calendar 1999.
Disclosure regarding change in control of Registrant incorporated by reference
to Post-Effective Amendment No. 74 to the Registration Statement on Form N-1A as
filed on November 5, 1999.
On November 16, 1999, the Board of Trustees amended the Declaration of Trust for
Pilgrim Mutual Funds to add Class A Shares of Pilgrim Money Market Fund and
Class T Shares of Pilgrim Balanced Fund and Pilgrim High Yield Fund II.
Amendment No. 24 to the Amended Declaration of Trust of Pilgrim Mutual Funds,
adding the new classes, is incorporated by reference to Post-Effective Amendment
No. 74 to the Registration Statement on Form N-1A as filed on November 5, 1999.
(a) Form of Amended and Restated Declaration of Trust of Pilgrim Mutual Funds
incorporated by reference to Post-Effective Amendment No. 74 to the Registration
Statement on Form N-1A as filed on November 5, 1999.
(e) Form of Investment Management Agreement between the Trust and Pilgrim
Investments, Inc and Form of Portfolio Management Agreement between Pilgrim
Investments, Inc. and Nicholas-Applegate Capital Management incorporated by
reference to Post-Effective Amendment No. 74 to the Registration Statement on
Form N-1A as filed on November 5, 1999.
