<PAGE> PAGE 1
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<PAGE> PAGE 2
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<PAGE> PAGE 3
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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<PAGE> PAGE 8
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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 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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<PAGE> PAGE 18
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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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SIGNATURE JOHN SIEBERT
TITLE REPORTING SUPERVISOR
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 11
<NAME> GROWTH STOCK FUND
<S> <C>
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<PAID-IN-CAPITAL-COMMON> 152835520
<SHARES-COMMON-STOCK> 442493<F1>
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<NUMBER-OF-SHARES-REDEEMED> 94879<F1>
<SHARES-REINVESTED> 22667<F1>
<NET-CHANGE-IN-ASSETS> 37083216
<ACCUMULATED-NII-PRIOR> 33511
<ACCUMULATED-GAINS-PRIOR> 2187543
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1359262
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1952031
<AVERAGE-NET-ASSETS> 4666906<F1>
<PER-SHARE-NAV-BEGIN> 11.71<F1>
<PER-SHARE-NII> 0.07<F1>
<PER-SHARE-GAIN-APPREC> 0.89<F1>
<PER-SHARE-DIVIDEND> 0.07<F1>
<PER-SHARE-DISTRIBUTIONS> 0.71<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.89<F1>
<EXPENSE-RATIO> 1.34<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>Retail Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 12
<NAME> GROWTH STOCK FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 149647144
<INVESTMENTS-AT-VALUE> 178920521
<RECEIVABLES> 1845321
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 180765842
<PAYABLE-FOR-SECURITIES> 2732781
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 207665
<TOTAL-LIABILITIES> 2940446
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 152835520
<SHARES-COMMON-STOCK> 14508629<F1>
<SHARES-COMMON-PRIOR> 11684763<F1>
<ACCUMULATED-NII-CURRENT> 49694
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 4333195
<ACCUM-APPREC-OR-DEPREC> 29273377
<NET-ASSETS> 177825396
<DIVIDEND-INCOME> 2741023
<INTEREST-INCOME> 563003
<OTHER-INCOME> 0
<EXPENSES-NET> 1859696
<NET-INVESTMENT-INCOME> 1444330
<REALIZED-GAINS-CURRENT> 2853413
<APPREC-INCREASE-CURRENT> 9013715
<NET-CHANGE-FROM-OPS> 13311458
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1401180<F1>
<DISTRIBUTIONS-OF-GAINS> 9131280<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 10917906<F1>
<NUMBER-OF-SHARES-REDEEMED> 8612823<F1>
<SHARES-REINVESTED> 518783<F1>
<NET-CHANGE-IN-ASSETS> 37083216
<ACCUMULATED-NII-PRIOR> 33511
<ACCUMULATED-GAINS-PRIOR> 2187543
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1359262
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1952031
<AVERAGE-NET-ASSETS> 165160722<F1>
<PER-SHARE-NAV-BEGIN> 11.71<F1>
<PER-SHARE-NII> 0.10<F1>
<PER-SHARE-GAIN-APPREC> 0.89<F1>
<PER-SHARE-DIVIDEND> 0.10<F1>
<PER-SHARE-DISTRIBUTIONS> 0.71<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.89<F1>
<EXPENSE-RATIO> 1.09<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0<F1>
<FN>
<F1>Institutional Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 21
<NAME> U.S. TREASURY SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 23093188
<INVESTMENTS-AT-VALUE> 23694556
<RECEIVABLES> 572461
<ASSETS-OTHER> 3246
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 24270263
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42815
<TOTAL-LIABILITIES> 42815
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 27535547
<SHARES-COMMON-STOCK> 107197<F1>
<SHARES-COMMON-PRIOR> 109846<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 3909467
<ACCUM-APPREC-OR-DEPREC> 601368
<NET-ASSETS> 24227448
<DIVIDEND-INCOME> 10605
<INTEREST-INCOME> 1930202
<OTHER-INCOME> 0
<EXPENSES-NET> 275640
<NET-INVESTMENT-INCOME> 1665167
<REALIZED-GAINS-CURRENT> 610897
<APPREC-INCREASE-CURRENT> (980793)
<NET-CHANGE-FROM-OPS> 1295271
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 68563<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 12543<F1>
<NUMBER-OF-SHARES-REDEEMED> 21534<F1>
<SHARES-REINVESTED> 6342<F1>
<NET-CHANGE-IN-ASSETS> 28071863
<ACCUMULATED-NII-PRIOR> 272381
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (4520364)
<GROSS-ADVISORY-FEES> 172954
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 292632
<AVERAGE-NET-ASSETS> 1050634<F1>
<PER-SHARE-NAV-BEGIN> 9.42<F1>
<PER-SHARE-NII> 0.53<F1>
<PER-SHARE-GAIN-APPREC> (0.20)<F1>
<PER-SHARE-DIVIDEND> 0.62<F1>
<PER-SHARE-DISTRIBUTIONS> 0.00<F1>
<RETURNS-OF-CAPITAL> 0.00<F1>
<PER-SHARE-NAV-END> 9.13<F1>
<EXPENSE-RATIO> 1.20<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Retail Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 22
<NAME> U.S. TREASURY SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 23093188
<INVESTMENTS-AT-VALUE> 23694556
<RECEIVABLES> 572461
<ASSETS-OTHER> 3246
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 24270263
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 42815
<TOTAL-LIABILITIES> 42815
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 27535547
<SHARES-COMMON-STOCK> 2543733<F1>
<SHARES-COMMON-PRIOR> 5438425<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 3909467
<ACCUM-APPREC-OR-DEPREC> 601368
<NET-ASSETS> 24227448
<DIVIDEND-INCOME> 10605
<INTEREST-INCOME> 1930202
<OTHER-INCOME> 0
<EXPENSES-NET> 275640
<NET-INVESTMENT-INCOME> 1665167
<REALIZED-GAINS-CURRENT> 610897
<APPREC-INCREASE-CURRENT> (980793)
<NET-CHANGE-FROM-OPS> 1295271
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1868985<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 161323<F1>
<NUMBER-OF-SHARES-REDEEMED> 3250486<F1>
<SHARES-REINVESTED> 194471<F1>
<NET-CHANGE-IN-ASSETS> 28071863
<ACCUMULATED-NII-PRIOR> 272381
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> (4520364)
<GROSS-ADVISORY-FEES> 172954
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 292632
<AVERAGE-NET-ASSETS> 27661426<F1>
<PER-SHARE-NAV-BEGIN> 9.43<F1>
<PER-SHARE-NII> 0.59<F1>
<PER-SHARE-GAIN-APPREC> (0.24)<F1>
<PER-SHARE-DIVIDEND> 0.64<F1>
<PER-SHARE-DISTRIBUTIONS> 0.00<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.14<F1>
<EXPENSE-RATIO> 0.95<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Institutional Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 31
<NAME> SHORT INTERMEDIATE U.S. TREASURY SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 24650387
<INVESTMENTS-AT-VALUE> 24444242
<RECEIVABLES> 277389
<ASSETS-OTHER> 12307
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 24733938
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 32530
<TOTAL-LIABILITIES> 32530
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25006372
<SHARES-COMMON-STOCK> 122898<F1>
<SHARES-COMMON-PRIOR> 50986<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 98819
<ACCUM-APPREC-OR-DEPREC> (206145)
<NET-ASSETS> 24701408
<DIVIDEND-INCOME> 15129
<INTEREST-INCOME> 1230870
<OTHER-INCOME> 0
<EXPENSES-NET> 139916
<NET-INVESTMENT-INCOME> 1106083
<REALIZED-GAINS-CURRENT> (66180)
<APPREC-INCREASE-CURRENT> (370513)
<NET-CHANGE-FROM-OPS> 669390
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 47546<F1>
<DISTRIBUTIONS-OF-GAINS> 2008<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 76883<F1>
<NUMBER-OF-SHARES-REDEEMED> 9947<F1>
<SHARES-REINVESTED> 4976<F1>
<NET-CHANGE-IN-ASSETS> 7997823
<ACCUMULATED-NII-PRIOR> 78218
<ACCUMULATED-GAINS-PRIOR> 5127
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 102679
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195608
<AVERAGE-NET-ASSETS> 868100<F1>
<PER-SHARE-NAV-BEGIN> 9.60<F1>
<PER-SHARE-NII> 0.48<F1>
<PER-SHARE-GAIN-APPREC> (0.11)<F1>
<PER-SHARE-DIVIDEND> 0.54<F1>
<PER-SHARE-DISTRIBUTIONS> 0.02<F1>
<RETURNS-OF-CAPITAL> 0.00<F1>
<PER-SHARE-NAV-END> 9.41<F1>
<EXPENSE-RATIO> 0.92<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Retail Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 32
<NAME> SHORT INTERMEDIATE U.S. TREASURY SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 24650387
<INVESTMENTS-AT-VALUE> 24444242
<RECEIVABLES> 277389
<ASSETS-OTHER> 12307
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 24733938
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 32530
<TOTAL-LIABILITIES> 32530
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 25006372
<SHARES-COMMON-STOCK> 2498684<F1>
<SHARES-COMMON-PRIOR> 1687574<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 98819
<ACCUM-APPREC-OR-DEPREC> (206145)
<NET-ASSETS> 24701408
<DIVIDEND-INCOME> 15129
<INTEREST-INCOME> 1230870
<OTHER-INCOME> 0
<EXPENSES-NET> 139916
<NET-INVESTMENT-INCOME> 1106083
<REALIZED-GAINS-CURRENT> (66180)
<APPREC-INCREASE-CURRENT> (370513)
<NET-CHANGE-FROM-OPS> 669390
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1136755<F1>
<DISTRIBUTIONS-OF-GAINS> 35758<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 1805630<F1>
<NUMBER-OF-SHARES-REDEEMED> 1006064<F1>
<SHARES-REINVESTED> 11544<F1>
<NET-CHANGE-IN-ASSETS> 7997823
<ACCUMULATED-NII-PRIOR> 78218
<ACCUMULATED-GAINS-PRIOR> 5127
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 102679
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 195608
<AVERAGE-NET-ASSETS> 19667439<F1>
<PER-SHARE-NAV-BEGIN> 9.61<F1>
<PER-SHARE-NII> 0.53<F1>
<PER-SHARE-GAIN-APPREC> (0.13)<F1>
<PER-SHARE-DIVIDEND> 0.57<F1>
<PER-SHARE-DISTRIBUTIONS> 0.02<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 9.42<F1>
<EXPENSE-RATIO> 0.67<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Institutional Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 41
<NAME> TAX-FREE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 274682887
<INVESTMENTS-AT-VALUE> 286298801
<RECEIVABLES> 3556991
<ASSETS-OTHER> 487
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 289856279
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 353615
<TOTAL-LIABILITIES> 353615
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 276300982
<SHARES-COMMON-STOCK> 54465<F1>
<SHARES-COMMON-PRIOR> 53465<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1585768
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11615914
<NET-ASSETS> 289502664
<DIVIDEND-INCOME> 44333
<INTEREST-INCOME> 16628597
<OTHER-INCOME> 0
<EXPENSES-NET> 2559115
<NET-INVESTMENT-INCOME> 14113815
<REALIZED-GAINS-CURRENT> 2578744
<APPREC-INCREASE-CURRENT> (505505)
<NET-CHANGE-FROM-OPS> 16187054
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 39417<F1>
<DISTRIBUTIONS-OF-GAINS> 7583<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 58332<F1>
<NUMBER-OF-SHARES-REDEEMED> 58984<F1>
<SHARES-REINVESTED> 1652<F1>
<NET-CHANGE-IN-ASSETS> 7293938
<ACCUMULATED-NII-PRIOR> 1169467
<ACCUMULATED-GAINS-PRIOR> 2569877
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1724513
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2679914
<AVERAGE-NET-ASSETS> 813284<F1>
<PER-SHARE-NAV-BEGIN> 10.53<F1>
<PER-SHARE-NII> 0.50<F1>
<PER-SHARE-GAIN-APPREC> 0.07<F1>
<PER-SHARE-DIVIDEND> 0.53<F1>
<PER-SHARE-DISTRIBUTIONS> 0.13<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.44<F1>
<EXPENSE-RATIO> 1.14<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Retail Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 42
<NAME> TAX-FREE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 274682887
<INVESTMENTS-AT-VALUE> 286298801
<RECEIVABLES> 3556991
<ASSETS-OTHER> 487
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 289856279
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 353615
<TOTAL-LIABILITIES> 353615
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 276300982
<SHARES-COMMON-STOCK> 27610200<F1>
<SHARES-COMMON-PRIOR> 26671349<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1585768
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11615914
<NET-ASSETS> 289502664
<DIVIDEND-INCOME> 44333
<INTEREST-INCOME> 16628597
<OTHER-INCOME> 0
<EXPENSES-NET> 2559115
<NET-INVESTMENT-INCOME> 14113815
<REALIZED-GAINS-CURRENT> 2578744
<APPREC-INCREASE-CURRENT> (505505)
<NET-CHANGE-FROM-OPS> 16187054
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 15243865<F1>
<DISTRIBUTIONS-OF-GAINS> 3555270<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 2708891<F1>
<NUMBER-OF-SHARES-REDEEMED> 2101754<F1>
<SHARES-REINVESTED> 331714<F1>
<NET-CHANGE-IN-ASSETS> 7293938
<ACCUMULATED-NII-PRIOR> 1169467
<ACCUMULATED-GAINS-PRIOR> 2569877
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 1724513
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 2679914
<AVERAGE-NET-ASSETS> 286298311<F1>
<PER-SHARE-NAV-BEGIN> 10.56<F1>
<PER-SHARE-NII> 0.52<F1>
<PER-SHARE-GAIN-APPREC> 0.07<F1>
<PER-SHARE-DIVIDEND> 0.56<F1>
<PER-SHARE-DISTRIBUTIONS> 0.13<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.46<F1>
<EXPENSE-RATIO> 0.89<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Institutional Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 51
<NAME> TAX-FREE SHORT INTERMEDIATE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 38846656
<INVESTMENTS-AT-VALUE> 39138168
<RECEIVABLES> 2901055
<ASSETS-OTHER> 21
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 42039244
<PAYABLE-FOR-SECURITIES> 2042120
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73983
<TOTAL-LIABILITIES> 2116103
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39648587
<SHARES-COMMON-STOCK> 44881<F1>
<SHARES-COMMON-PRIOR> 30434<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 16958
<ACCUM-APPREC-OR-DEPREC> 291512
<NET-ASSETS> 39923141
<DIVIDEND-INCOME> 10960
<INTEREST-INCOME> 1902245
<OTHER-INCOME> 0
<EXPENSES-NET> 336082
<NET-INVESTMENT-INCOME> 1577123
<REALIZED-GAINS-CURRENT> 247802
<APPREC-INCREASE-CURRENT> (381865)
<NET-CHANGE-FROM-OPS> 1443060
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 13555<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 19329<F1>
<NUMBER-OF-SHARES-REDEEMED> 5147<F1>
<SHARES-REINVESTED> 265<F1>
<NET-CHANGE-IN-ASSETS> (376935)
<ACCUMULATED-NII-PRIOR> 134419
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 264760
<GROSS-ADVISORY-FEES> 202701
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 357998
<AVERAGE-NET-ASSETS> 347826<F1>
<PER-SHARE-NAV-BEGIN> 10.11<F1>
<PER-SHARE-NII> 0.37<F1>
<PER-SHARE-GAIN-APPREC> (0.03)<F1>
<PER-SHARE-DIVIDEND> 0.40<F1>
<PER-SHARE-DISTRIBUTIONS> 0.00<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.05<F1>
<EXPENSE-RATIO> 1.08<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Retail Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 52
<NAME> TAX-FREE SHORT INTERMEDIATE SECURITIES FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 38846656
<INVESTMENTS-AT-VALUE> 39138168
<RECEIVABLES> 2901055
<ASSETS-OTHER> 21
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 42039244
<PAYABLE-FOR-SECURITIES> 2042120
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 73983
<TOTAL-LIABILITIES> 2116103
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39648587
<SHARES-COMMON-STOCK> 3915452<F1>
<SHARES-COMMON-PRIOR> 3943942<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 16958
<ACCUM-APPREC-OR-DEPREC> 291512
<NET-ASSETS> 39923141
<DIVIDEND-INCOME> 10960
<INTEREST-INCOME> 1902245
<OTHER-INCOME> 0
<EXPENSES-NET> 336082
<NET-INVESTMENT-INCOME> 1577123
<REALIZED-GAINS-CURRENT> 247802
<APPREC-INCREASE-CURRENT> (381865)
<NET-CHANGE-FROM-OPS> 1443060
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1697987<F1>
<DISTRIBUTIONS-OF-GAINS> 0<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 754274<F1>
<NUMBER-OF-SHARES-REDEEMED> 783406<F1>
<SHARES-REINVESTED> 642<F1>
<NET-CHANGE-IN-ASSETS> (376935)
<ACCUMULATED-NII-PRIOR> 134419
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 264760
<GROSS-ADVISORY-FEES> 202701
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 357998
<AVERAGE-NET-ASSETS> 40145245<F1>
<PER-SHARE-NAV-BEGIN> 10.14<F1>
<PER-SHARE-NII> 0.40<F1>
<PER-SHARE-GAIN-APPREC> (0.03)<F1>
<PER-SHARE-DIVIDEND> 0.43<F1>
<PER-SHARE-DISTRIBUTIONS> 0.00<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.08<F1>
<EXPENSE-RATIO> 0.83<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Institutional Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 61
<NAME> DIVERSIFIED FIXED INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 162770301
<INVESTMENTS-AT-VALUE> 159036837
<RECEIVABLES> 4028479
<ASSETS-OTHER> 63
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 163065379
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 231155
<TOTAL-LIABILITIES> 231155
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 165226478
<SHARES-COMMON-STOCK> 104506<F1>
<SHARES-COMMON-PRIOR> 2539<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1341210
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3733464)
<NET-ASSETS> 162834224
<DIVIDEND-INCOME> 111905
<INTEREST-INCOME> 8655304
<OTHER-INCOME> 0
<EXPENSES-NET> 1202908
<NET-INVESTMENT-INCOME> 7564301
<REALIZED-GAINS-CURRENT> 1793439
<APPREC-INCREASE-CURRENT> (6350290)
<NET-CHANGE-FROM-OPS> 3007450
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 30926<F1>
<DISTRIBUTIONS-OF-GAINS> 5216<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 107934<F1>
<NUMBER-OF-SHARES-REDEEMED> 9260<F1>
<SHARES-REINVESTED> 3293<F1>
<NET-CHANGE-IN-ASSETS> 107980104
<ACCUMULATED-NII-PRIOR> 271927
<ACCUMULATED-GAINS-PRIOR> 741453
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 814802
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1260991
<AVERAGE-NET-ASSETS> 582211<F1>
<PER-SHARE-NAV-BEGIN> 10.75<F1>
<PER-SHARE-NII> 0.59<F1>
<PER-SHARE-GAIN-APPREC> (0.19)<F1>
<PER-SHARE-DIVIDEND> 0.60<F1>
<PER-SHARE-DISTRIBUTIONS> 0.10<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.45<F1>
<EXPENSE-RATIO> 1.15<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Retail Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 62
<NAME> DIVERSIFIED FIXED INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 162770301
<INVESTMENTS-AT-VALUE> 159036837
<RECEIVABLES> 4028479
<ASSETS-OTHER> 63
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 163065379
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 231155
<TOTAL-LIABILITIES> 231155
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 165226478
<SHARES-COMMON-STOCK> 15364087<F1>
<SHARES-COMMON-PRIOR> 5059403<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1341210
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3733464)
<NET-ASSETS> 162834224
<DIVIDEND-INCOME> 111905
<INTEREST-INCOME> 8655304
<OTHER-INCOME> 0
<EXPENSES-NET> 1202908
<NET-INVESTMENT-INCOME> 7564301
<REALIZED-GAINS-CURRENT> 1793439
<APPREC-INCREASE-CURRENT> (6350290)
<NET-CHANGE-FROM-OPS> 3007450
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7805302<F1>
<DISTRIBUTIONS-OF-GAINS> 1188466<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 18085880<F1>
<NUMBER-OF-SHARES-REDEEMED> 7857921<F1>
<SHARES-REINVESTED> 76725<F1>
<NET-CHANGE-IN-ASSETS> 107980104
<ACCUMULATED-NII-PRIOR> 271927
<ACCUMULATED-GAINS-PRIOR> 741453
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 814802
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1260991
<AVERAGE-NET-ASSETS> 135393435<F1>
<PER-SHARE-NAV-BEGIN> 10.84<F1>
<PER-SHARE-NII> 0.58<F1>
<PER-SHARE-GAIN-APPREC> (0.16)<F1>
<PER-SHARE-DIVIDEND> 0.63<F1>
<PER-SHARE-DISTRIBUTIONS> 0.10<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 10.53<F1>
<EXPENSE-RATIO> 0.88<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Institutional Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 71
<NAME> GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 70381459
<INVESTMENTS-AT-VALUE> 76207067
<RECEIVABLES> 1237696
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 77444771
<PAYABLE-FOR-SECURITIES> 1764988
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 92710
<TOTAL-LIABILITIES> 1857698
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66385781
<SHARES-COMMON-STOCK> 94173<F1>
<SHARES-COMMON-PRIOR> 28695<F1>
<ACCUMULATED-NII-CURRENT> 22307
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3353377
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5825608
<NET-ASSETS> 75587073
<DIVIDEND-INCOME> 1436098
<INTEREST-INCOME> 162495
<OTHER-INCOME> 0
<EXPENSES-NET> 701395
<NET-INVESTMENT-INCOME> 897198
<REALIZED-GAINS-CURRENT> 4517339
<APPREC-INCREASE-CURRENT> 1140677
<NET-CHANGE-FROM-OPS> 6555214
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 6859<F1>
<DISTRIBUTIONS-OF-GAINS> 10087<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 74394<F1>
<NUMBER-OF-SHARES-REDEEMED> 10325<F1>
<SHARES-REINVESTED> 1409<F1>
<NET-CHANGE-IN-ASSETS> 33487774
<ACCUMULATED-NII-PRIOR> 48954
<ACCUMULATED-GAINS-PRIOR> 276982
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 503952
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 730128
<AVERAGE-NET-ASSETS> 621075<F1>
<PER-SHARE-NAV-BEGIN> 11.44<F1>
<PER-SHARE-NII> 0.16<F1>
<PER-SHARE-GAIN-APPREC> 1.19<F1>
<PER-SHARE-DIVIDEND> 0.16<F1>
<PER-SHARE-DISTRIBUTIONS> 0.31<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 12.32<F1>
<EXPENSE-RATIO> 1.37<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Retail Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 72
<NAME> GROWTH AND INCOME FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-01-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 70381459
<INVESTMENTS-AT-VALUE> 76207067
<RECEIVABLES> 1237696
<ASSETS-OTHER> 8
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 77444771
<PAYABLE-FOR-SECURITIES> 1764988
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 92710
<TOTAL-LIABILITIES> 1857698
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 66385781
<SHARES-COMMON-STOCK> 6043467<F1>
<SHARES-COMMON-PRIOR> 3654388<F1>
<ACCUMULATED-NII-CURRENT> 22307
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 3353377
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 5825608
<NET-ASSETS> 75587073
<DIVIDEND-INCOME> 1436098
<INTEREST-INCOME> 162495
<OTHER-INCOME> 0
<EXPENSES-NET> 701395
<NET-INVESTMENT-INCOME> 897198
<REALIZED-GAINS-CURRENT> 4517339
<APPREC-INCREASE-CURRENT> 1140677
<NET-CHANGE-FROM-OPS> 6555214
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 916986<F1>
<DISTRIBUTIONS-OF-GAINS> 1430857<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 4232718<F1>
<NUMBER-OF-SHARES-REDEEMED> 1948216<F1>
<SHARES-REINVESTED> 104577<F1>
<NET-CHANGE-IN-ASSETS> 33487774
<ACCUMULATED-NII-PRIOR> 48954
<ACCUMULATED-GAINS-PRIOR> 276982
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 503952
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 730128
<AVERAGE-NET-ASSETS> 62404637<F1>
<PER-SHARE-NAV-BEGIN> 11.43<F1>
<PER-SHARE-NII> 0.17<F1>
<PER-SHARE-GAIN-APPREC> 1.21<F1>
<PER-SHARE-DIVIDEND> 0.18<F1>
<PER-SHARE-DISTRIBUTIONS> 0.31<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 12.32<F1>
<EXPENSE-RATIO> 1.11<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Institutional Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 81
<NAME> NEW ASIA GROWTH FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-31-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 9467465
<INVESTMENTS-AT-VALUE> 9029235
<RECEIVABLES> 120246
<ASSETS-OTHER> 1381950
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10531431
<PAYABLE-FOR-SECURITIES> 52561
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20467
<TOTAL-LIABILITIES> 73028
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10778400
<SHARES-COMMON-STOCK> 179099<F1>
<SHARES-COMMON-PRIOR> 29461<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 25243
<ACCUMULATED-NET-GAINS> 187744
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (438381)
<NET-ASSETS> 10458403
<DIVIDEND-INCOME> 114893
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 118930
<NET-INVESTMENT-INCOME> (4037)
<REALIZED-GAINS-CURRENT> 131802
<APPREC-INCREASE-CURRENT> (600165)
<NET-CHANGE-FROM-OPS> (472400)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1121<F1>
<DISTRIBUTIONS-OF-GAINS> 15201<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 156856<F1>
<NUMBER-OF-SHARES-REDEEMED> 8592<F1>
<SHARES-REINVESTED> 1284<F1>
<NET-CHANGE-IN-ASSETS> 7267639
<ACCUMULATED-NII-PRIOR> 10915
<ACCUMULATED-GAINS-PRIOR> 67200
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 52972
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 175241
<AVERAGE-NET-ASSETS> 1072821<F1>
<PER-SHARE-NAV-BEGIN> 11.21<F1>
<PER-SHARE-NII> (0.02)<F1>
<PER-SHARE-GAIN-APPREC> 0.20<F1>
<PER-SHARE-DIVIDEND> 0.02<F1>
<PER-SHARE-DISTRIBUTIONS> 0.26<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.11<F1>
<EXPENSE-RATIO> 2.22<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Retail Class
</FN>
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 82
<NAME> NEW ASIA GROWTH FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-31-1995
<PERIOD-END> JUL-31-1996
<INVESTMENTS-AT-COST> 9467465
<INVESTMENTS-AT-VALUE> 9029235
<RECEIVABLES> 120246
<ASSETS-OTHER> 1381950
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 10531431
<PAYABLE-FOR-SECURITIES> 52561
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 20467
<TOTAL-LIABILITIES> 73028
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 10778400
<SHARES-COMMON-STOCK> 760450<F1>
<SHARES-COMMON-PRIOR> 254879<F1>
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 25243
<ACCUMULATED-NET-GAINS> 187744
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (438381)
<NET-ASSETS> 10458403
<DIVIDEND-INCOME> 114893
<INTEREST-INCOME> 0
<OTHER-INCOME> 0
<EXPENSES-NET> 131802
<NET-INVESTMENT-INCOME> (4037)
<REALIZED-GAINS-CURRENT> 187718
<APPREC-INCREASE-CURRENT> (600165)
<NET-CHANGE-FROM-OPS> (472400)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 7846<F1>
<DISTRIBUTIONS-OF-GAINS> 63590<F1>
<DISTRIBUTIONS-OTHER> 0<F1>
<NUMBER-OF-SHARES-SOLD> 754031<F1>
<NUMBER-OF-SHARES-REDEEMED> 252790<F1>
<SHARES-REINVESTED> 4330<F1>
<NET-CHANGE-IN-ASSETS> 7267639
<ACCUMULATED-NII-PRIOR> 10915
<ACCUMULATED-GAINS-PRIOR> 67200
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 52972
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 175241
<AVERAGE-NET-ASSETS> 4812922<F1>
<PER-SHARE-NAV-BEGIN> 11.22<F1>
<PER-SHARE-NII> (0.01)<F1>
<PER-SHARE-GAIN-APPREC> 0.22<F1>
<PER-SHARE-DIVIDEND> 0.03<F1>
<PER-SHARE-DISTRIBUTIONS> 0.26<F1>
<RETURNS-OF-CAPITAL> 0<F1>
<PER-SHARE-NAV-END> 11.14<F1>
<EXPENSE-RATIO> 1.98<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0.00<F1>
<FN>
<F1>Institutional Class
</FN>
</TABLE>
Report of Independent Auditors
Board of Trustees
Pacific Capital Funds
In planning and performing our audits of the
financial statements of the Pacific Capital
Funds (the "Funds") for the year ended July31,
1996, we considered its internal control structure,
including procedures for safeguarding securities,
in order to determine our auditing procedures for
the purpose of expressing our opinion on the
financial statements and to comply with the
requirements of Form N-SAR, not to provide
assurance on the internal control structure.
The management of the Funds is responsible for
establishing and maintaining an internal control
structure. In fulfilling this responsibility, estimates
and judgments by management are required to
assess the expected benefits and related costs of
internal control structure policies and procedures.
Two of the objectives of an internal control
structure are to provide management with
reasonable, but not absolute, assurance that assets
are safeguarded against loss from unauthorized
use or disposition and that transactions are
executed in accordance with management's
authorization and recorded properly to permit
preparation of financial statements in conformity
with generally accepted accounting principles.
Because of inherent limitations in any internal
control structure, errors or irregularities may
occur and not be detected. Also, projection of
any evaluation of the structure to future periods
is subject to the risk it may become inadequate
because of changes in conditions or that the
effectiveness of the design and operation may
deteriorate.
Our consideration of the internal control
structure would not necessarily disclose all
matters in the internal control structure
that might be material weaknesses under standards
established by the American Institute of
Certified Public Accountants. A material weakness
is a condition in which the design or operation
of the specific internal control structure elements
does not reduce to a relatively low level the
risk that errors or irregularities in amounts
that would be material in relation to the financial
statements being audited may occur and not
be detected within a timely period by employees
in the normal course of performing their
assigned functions. However, we noted
matters involving the internal control structure,
including procedures for safeguarding securities,
that we consider to be material weaknesses as
defined above as of July 31, 1996.
This report is intended solely for the
information and use of management and the
Securities and Exchange Commission.
/s/ Ernst & Young
Columbus, Ohio
September 13, 1996
Board of Trustees
Pacific Capital Funds
We have examined the accompanying
description of policies and procedures
of the Growth Stock Fund, U.S. Treasury
Securities Fund, Short Intermediate U.S.
Treasury Securities Fund, Growth and
Income Fund, Diversified Fixed Income
Fund, Tax-Free Securities Fund, Tax-Free
Short Intermediate Securities Fund and
New Asia Growth Fund of the Pacific
Capital Funds (the "Fund") applicable to
the multiple distribution system for
calculation of the net asset value and dividends/
distributions with respect to the allocation of
income and expenses to the various classes
of shares of the Fund. Our examination
included procedures to obtain reasonable assurance
about whether (1) the accompanying description
presents fairly, in all material respects, the aspects
of the Fund's policies and procedures
that may be relevant to understanding the
internal control structure relating to the Multiple
Class System under review, (2) the control
structure policies and procedures included in
the description were suitably designed to
achieve the control objectives specified
in the description, if those policies and procedures
were complied with satisfactorily, and (3)
such policies and procedures had been placed
in operation for the period August 1, 1995
to July 31, 1996. Our examination was
performed in accordance with standards
established by the American Institute of
Certified Public Accountants and included
those procedures we considered necessary
in the circumstances to obtain a reasonable
basis for rendering our opinion.
In our opinion, the accompanying description
of the Multiple Class System presents fairly, in
all material respects, the relevant aspects of
the Fund's policies and procedures that
had been placed in operation for the period
August 1, 1995 to July 31, 1996. Also, in
our opinion, the policies and procedures,
as described, are suitably designed to
provide reasonable assurance that the
specified control objectives would be
achieved if the described policies and
procedures were complied with satisfactorily.
In addition to the procedures we considered
necessary to render our opinion as expressed
in the previous paragraph, we applied tests
to specific policies and procedures as listed
in Section III to obtain evidence about the
effectiveness of such policies and procedures
in meeting the control objectives, described
in Section II, during the period August 1,
1995 to July 31, 1996.
The specific policies and procedures and
the nature, timing, extent, and results
of the tests are listed in Sections II and III,
respectively, of this report. In our opinion,
the policies and procedures that were
tested, as described in Section II, were
operating with sufficient effectiveness to
provide reasonable, but not absolute, assurance
that the control objectives specified in
Section II were achieved during the period
indicated.
The description of specific policies and
procedures of the Fund's Multiple Class
System is for the year ended July 31,
1996, and information about tests of the
operating effectiveness of specified
policies and procedures covered the
period from August 1, 1995 to July 31,
1996. Any projection of such information
to the future is subject to the risk that,
because of change, the description may
no longer portray the system in
existence. The potential effectiveness
of specified policies and procedures
from the Fund's system under review
is subject to inherent limitations and,
accordingly, errors or irregularities
may occur and not be detected.
Furthermore, the projection of any
conclusions, based on our findings,
to future periods is subject to the
risk that changes may alter the validity
of such conclusions.
This report is intended solely for use
by the Board of Trustees, the Management
of the Fund, and for filing with the
Securities and Exchange Commission,
and should not be used for any other
purpose.
/s/ Ernst & Young
Columbus, Ohio
September 13, 1996
SECTION II
DESCRIPTION OF METHODOLOGY AND PROCEDURES
FOR CALCULATING NET ASSET VALUE, DIVIDEND
DISTRIBUTION OF THE TWO CLASSES OF SHARES
AND THE ALLOCATION OF EXPENSES AMONG
THE TWO CLASSES OF FUND SHARES
MULTIPLE PRICING FUNDS
NAV AND DIVIDEND/DISTRIBUTION DETERMINATION
Funds that adopt the multiple pricing
concept will be required to maintain
records that account for each class of
shares. Retail shares will be charged with
a distribution fee (12b-1 fee) on a daily basis.
Since the fee schedule will not be the same
between the varying classes, separate
NAV's and/or dividends/distributions
must be calculated for each class of shares.
I. Dividend Policies
The procedures for calculating NAV
and dividends/distributions depend
upon the dividend policy. Prior to
November 10, 1995, the dividend
policy of the Pacific Capital Funds
was to declare and pay net income
monthly except for the New Asia
Growth Fund which declared and
paid net income quarterly. On
November 10, 1995, the dividend
policy of the Pacific Capital Funds
changed to declare net income daily
and pay net income monthly for the
U.S. Treasury Securities Fund, Short
Intermediate U.S. Treasury Securities
Fund, Diversified Fixed Income Fund,
Tax-Free Securities Fund and Tax-Free
Short Intermediate Securities Fund.
Distributable net realized capital gains
are distributed at least annually.
In maintaining the records for the funds,
the profit and loss accounts must be
allocated to each class of shares. That
is, net investment income, unrealized
and realized gains or losses will be
allocated daily to each class of shares
based upon the relative net assets
of each class of shares. These balances
will be accumulated by class of shares.
Income will be distributed utilizing the
record share method. This method
starts with the sum of net investment
income available for all classes after
deduction of allocated expenses but
before consideration of expenses unique
to any class (or expenses, if any,
incrementally higher for any class),
and divides this sum by total settled
shares for all classes combined to
arrive at a gross dividend rate for all
outstanding shares. From this gross
rate an amount per share for each class
(which represents the unique and
incrementally higher, if any, expenses
accrued during the period to that class
divided by the record date shares
outstanding for that class) is subtracted.
The result is the actual per share rate
available for each class.
II. Expense Classifications
On a daily basis, expenses are attributable
to each class of shares depending on the
nature of the expenditures. These fall
into three categories:
(1) Expense incurred by the Trust
not attributable to a particular Portfolio
or a particular class thereof ("Trust Expenses");
II. Expense Classifications (continued)
(2) Expense incurred by the Portfolio
but not attributable to any particular
class of the Portfolio's shares (e.g. investment
advisory fees) ("Portfolio Expenses"); and
(3) Expenses specifically attributable to
the particular class ("Class Expenses"),
which will be limited to (a) transfer
agent fees as identified by the Transfer
Agent as being attributable to a specific
class; (b) fees and expenses of the
administrator that are identified and
approved by the Trust's Board as
being attributable to a specific class
of shares; (c) printing and postage
expenses related to preparing and
distributing materials such as shareholder
reports, prospectuses and proxies to
current shareholders of a class; (d)
Blue Sky registration fees incurred by
a class of shares; (f) the expense of
administrative personnel and services
as required to support the shareholders
of a specific class; (g) litigation or
other legal expenses or audit or other
accounting expenses relating solely to
one class of shares; (h) trustees fees
incurred as a result of issues relating
to one class of shares. Class expenses
must be determined to be directly
attributable to one or more classes and
should be allocated to that class or
those classes exclusively.
(4) Additionally, fees under the Rule 12b-1
Plans will be assessed to the Retail Class of shares.
III. Expense Calculations
Prior to determining the day's NAV or
dividends/distributions, the following
expense items must be calculated as indicated:
(1) Trust Expenses - Determine daily
expense accrual from expense budget and
allocate to each class of shares based upon
the relative net assets of each class of
shares at the close of the prior day.
(2) Portfolio Expenses - Using the
prior day's ending net assets for each
class of shares, calculate the current
day's accrual for each class. The
effective rate used will be the same
for all classes and is based on the total
net assets of the fund.
(3) Class Expenses - Determine daily
accrual from expense budget by using
the prior day's ending net assets for
each class of shares to calculate the
current day's accrual.
(4) 12b-1 Fees - Using the prior day's
ending net assets for the Retail Class of shares,
calculate the current day's accrual.
IV. NAV and Dividend/Distribution Policies
The calculations of NAV and dividends/
distributions according to the Portfolio's
dividend priority are as follows:
Dividends/Distributions - Determine
distribution by class of shares by
completing "NAV and Distribution
per Share Worksheet".
NAV - Determine NAV by class of
shares by completing "NAV and
Distribution per Share Worksheet".
V. Control Objectives and Procedures
The Worksheet is a supplementary
manual application of the Fund's
primary accounting system. Certain
data is utilized from the primary
accounting system to allocate income
and expenses and to calculate the daily
net asset value and dividends/distributions
for each class of shares. The primary
accounting system includes the details
of transactions in accordance with the
Investment Company Act of 1940, as
amended.
The following represents the
internal accounting control objectives
and procedures for the allocation of
income and expenses and the calculation
of NAV and dividends and distributions
for the classes of shares. It does
not cover the internal accounting control
procedures surrounding the processing
of information into the Fund's primary
accounting system.
Control ObjectivesControl Procedures
1. Direct expenses charged to each class
of shares are correctly recorded in the fund
accounting records and are allocated properly
to the correct class of shares.
A. Class-specific expenses are calculated
by the Worksheet and reconciled with the
primary accounting system.V. Control Objectives
and Procedures (continued)
2. Gross income, other operating expenses,
realized gains/losses and unrealized gains/losses
are allocated properly to each class of shares
based upon prior day's net assets plus current
day's shareholder activity.
A. Gross income, other operating expenses,
realized gains/losses and unrealized gains/losses
are allocated according to percentages calculated
for each class of shares based upon the information
from the prior day's accounting records and the
information provided by the transfer agent. The
allocations performed by the Worksheet are
reconciled with the primary accounting system.
3. Dividend rates and daily NAV's per
share for each class of shares reflect the proper
allocation of income and operating expenses as
well as the full amount of any direct expenses
charged to the respective class of shares.
A.The sum of each class's net investment income
and gains/losses is agreed to the composite totals
for the fund and to the primary accounting system.
B. Net assets for each class are proved to
the opening balance adjusted for the day's
activity (shares for each class are compared
to daily summary sheets received from the
transfer agent). The composite total net assets
for the fund and the net assets for each class are
agreed to the primary accounting system.
C. Relative movements of net asset values
per share and dividend rates are checked by the
fund accountant and supervisor for reasonableness
against anticipated results.
D. The Worksheet is reviewed and signed
by two Fund Accountants.
SECTION III Tests of Effectiveness of
Control Structure Policies and Procedures
Our tests of the effectiveness of
control structure policies and procedures were
designed to determine whether:1. The description
of the Fund's policies and procedures included
in Section II of this report presents fairly, in all
material respects, those aspects of the Fund's
control structure that may be relevant to the
Fund's internal control structure.
2. The control structure policies and
procedures described in Section II of this
report were suitably designed to achieve the
control objectives defined in Section II of
this report, if those polices and procedures
were complied with satisfactorily.
3. The control structure policies and
procedures described in Section II of this
report had been placed in operation as of
the date specified.
4. The control structure policies and
procedures were operating with sufficient
effectiveness to provide reasonable, but not
absolute, assurance that the control objectives
in Section II were achieved during the period
from August 1, 1995 to July 31, 1996.
Our tests of the effectiveness of control
structure policies and procedures included
the following procedures, to the extent we
considered necessary
(a) a review of the Fund's organizational
structure, including the segregation of
functional responsibilities, policy statements,
and personnel policies,
(b) discussions with management, accounting,
administrative and other personnel who are
assigned responsibilities for developing,
ensuring adherence to and for applying control
structure policies and procedures, and
(c) observations of personnel in the performance
of their assigned duties.
Our tests of the effectiveness of control
structure policies and procedures included
such other tests as we considered necessary
in the circumstances to evaluate whether
those policies and procedures, and the extent
of compliance with them, is sufficient to
provide reasonable, but not absolute, assurance
that the specified control objectives were
achieved during the period from August 1, 1995
to July 31, 1996. Our tests of the operational
effectiveness of control structure policies and
procedures were designed to cover a
representative number of calculations throughout
the period August 1, 1995 to July 31, 1996 for
each of the functions listed in Section II
which satisfy the control objectives listed in
Section II of this report. In selecting particular t
ests of the operational effectiveness of control
structure policies and procedures, we considered the
(a) nature of the items being tested,
(b) the kinds and competence of available
evidential matter,
(c) the nature of the audit objectives to be
achieved,
(d) the assessed level of control risk, and
(e) the expected efficiency and effectiveness
of the tests.
Tests of effectiveness of control
structure policies and procedures included:
- - Tests of source documentation
to ensure validity of information.
- - Tests of input and supervisory
control procedures in place to ensure
accuracy, completeness, validity and
integrity of processing.
- - Test of recalculation of output
to verify accuracy.
- - Tests of output control procedures
and resultant documents and reports relative
to specific calculations to ensure accurate
and timely updates of accounting records
were achieved.
Testing procedures were designed and
performed to enable us to conclude that
the control objectives listed in Section II
of this report were achieved during the
period August 1, 1995 to July 31, 1996.
