<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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SIGNATURE STEVE MAPLE
TITLE REPORTING ANALYST
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 11
<NAME> PACIFIC CAPITAL GROWTH STOCK FUND, CLASS A
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<FN>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
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<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
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<PER-SHARE-DISTRIBUTIONS> .760<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.090<F1>
<EXPENSE-RATIO> 1.090<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 21
<NAME> PACIFIC CAPITAL U.S. TREASURY SECURITIES FUND, CLASS A
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 24633332
<INVESTMENTS-AT-VALUE> 27868098
<RECEIVABLES> 675459
<ASSETS-OTHER> 4532
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 28548089
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43838
<TOTAL-LIABILITIES> 43838
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 29372295
<SHARES-COMMON-STOCK> 2849522
<SHARES-COMMON-PRIOR> 5548271
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 4102810
<ACCUM-APPREC-OR-DEPREC> 3234766
<NET-ASSETS> 28504251
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1059452
<OTHER-INCOME> 0
<EXPENSES-NET> 157740
<NET-INVESTMENT-INCOME> 901712
<REALIZED-GAINS-CURRENT> 417554
<APPREC-INCREASE-CURRENT> 1652605
<NET-CHANGE-FROM-OPS> 2971871
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1174093
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 101869
<NUMBER-OF-SHARES-REDEEMED> 2920427
<SHARES-REINVESTED> 119809
<NET-CHANGE-IN-ASSETS> (23795060)
<ACCUMULATED-NII-PRIOR> 272381
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 4520364
<GROSS-ADVISORY-FEES> 95331
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 167043
<AVERAGE-NET-ASSETS> 1079814<F1>
<PER-SHARE-NAV-BEGIN> 9.420<F1>
<PER-SHARE-NII> .370<F1>
<PER-SHARE-GAIN-APPREC> .620<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .360<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.050<F1>
<EXPENSE-RATIO> 1.250<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 22
<NAME> PACIFIC CAPITAL U.S. TREASURY SECURITIES FUND, CLASS B
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 24633332
<INVESTMENTS-AT-VALUE> 27868098
<RECEIVABLES> 675459
<ASSETS-OTHER> 4532
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 28548089
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43838
<TOTAL-LIABILITIES> 43838
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 29372295
<SHARES-COMMON-STOCK> 2849522
<SHARES-COMMON-PRIOR> 5548271
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 4102810
<ACCUM-APPREC-OR-DEPREC> 3234766
<NET-ASSETS> 28504251
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 1059452
<OTHER-INCOME> 0
<EXPENSES-NET> 157740
<NET-INVESTMENT-INCOME> 901712
<REALIZED-GAINS-CURRENT> 417554
<APPREC-INCREASE-CURRENT> 1652605
<NET-CHANGE-FROM-OPS> 2971871
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 1174093
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 101869
<NUMBER-OF-SHARES-REDEEMED> 2920427
<SHARES-REINVESTED> 119809
<NET-CHANGE-IN-ASSETS> (23795060)
<ACCUMULATED-NII-PRIOR> 272381
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 4520364
<GROSS-ADVISORY-FEES> 95331
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 167043
<AVERAGE-NET-ASSETS> 30321805<F1>
<PER-SHARE-NAV-BEGIN> 9.430<F1>
<PER-SHARE-NII> .330<F1>
<PER-SHARE-GAIN-APPREC> .620<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .380<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.000<F1>
<EXPENSE-RATIO> .990<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 31
<NAME> SHORT INTERMEDIATE U.S. TREASURY SECURITIES, CLASS A
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 20191003
<INVESTMENTS-AT-VALUE> 20895430
<RECEIVABLES> 416036
<ASSETS-OTHER> 15890
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 21327356
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 122690
<TOTAL-LIABILITIES> 122690
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20500272
<SHARES-COMMON-STOCK> 2153108
<SHARES-COMMON-PRIOR> 1738560
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 33
<ACCUM-APPREC-OR-DEPREC> 704427
<NET-ASSETS> 21204666
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 536074
<OTHER-INCOME> 0
<EXPENSES-NET> 59603
<NET-INVESTMENT-INCOME> 476471
<REALIZED-GAINS-CURRENT> 32607
<APPREC-INCREASE-CURRENT> 540059
<NET-CHANGE-FROM-OPS> 1049137
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 554689
<DISTRIBUTIONS-OF-GAINS> 37767
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 929012
<NUMBER-OF-SHARES-REDEEMED> 523597
<SHARES-REINVESTED> 9133
<NET-CHANGE-IN-ASSETS> 4501081
<ACCUMULATED-NII-PRIOR> 78218
<ACCUMULATED-GAINS-PRIOR> 5127
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44035
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 83142
<AVERAGE-NET-ASSETS> 616567<F1>
<PER-SHARE-NAV-BEGIN> 9.600<F1>
<PER-SHARE-NII> .240<F1>
<PER-SHARE-GAIN-APPREC> .310<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .320<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 9.830<F1>
<EXPENSE-RATIO> .910<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 32
<NAME> SHORT INTERMEDIATE U.S. TREASURY SECURITIES, CLASS B
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 20191003
<INVESTMENTS-AT-VALUE> 20895430
<RECEIVABLES> 416036
<ASSETS-OTHER> 15890
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 21327356
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 122690
<TOTAL-LIABILITIES> 122690
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 20500272
<SHARES-COMMON-STOCK> 2153108
<SHARES-COMMON-PRIOR> 1738560
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 33
<ACCUM-APPREC-OR-DEPREC> 704427
<NET-ASSETS> 21204666
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 536074
<OTHER-INCOME> 0
<EXPENSES-NET> 59603
<NET-INVESTMENT-INCOME> 476471
<REALIZED-GAINS-CURRENT> 32607
<APPREC-INCREASE-CURRENT> 540059
<NET-CHANGE-FROM-OPS> 1049137
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 554689
<DISTRIBUTIONS-OF-GAINS> 37767
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 929012
<NUMBER-OF-SHARES-REDEEMED> 523597
<SHARES-REINVESTED> 9133
<NET-CHANGE-IN-ASSETS> 4501081
<ACCUMULATED-NII-PRIOR> 78218
<ACCUMULATED-GAINS-PRIOR> 5127
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 44035
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 83142
<AVERAGE-NET-ASSETS> 16901541<F1>
<PER-SHARE-NAV-BEGIN> 9.610<F1>
<PER-SHARE-NII> .270<F1>
<PER-SHARE-GAIN-APPREC> .310<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .340<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 9.850<F1>
<EXPENSE-RATIO> .670<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 41
<NAME> PACIFIC CAPITAL TAX-FREE SECURITIES FUND, CLASS A
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 268856180
<INVESTMENTS-AT-VALUE> 291156178
<RECEIVABLES> 4042135
<ASSETS-OTHER> 62635
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 295260948
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1640848
<TOTAL-LIABILITIES> 1640848
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 270397821
<SHARES-COMMON-STOCK> 27102332
<SHARES-COMMON-PRIOR> 26724814
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 922281
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 22299998
<NET-ASSETS> 293620100
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8348991
<OTHER-INCOME> 0
<EXPENSES-NET> 1265931
<NET-INVESTMENT-INCOME> 7083060
<REALIZED-GAINS-CURRENT> 1915258
<APPREC-INCREASE-CURRENT> 10178579
<NET-CHANGE-FROM-OPS> 19176897
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8252527
<DISTRIBUTIONS-OF-GAINS> 3562854
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1142824
<NUMBER-OF-SHARES-REDEEMED> 1097597
<SHARES-REINVESTED> 332291
<NET-CHANGE-IN-ASSETS> 11411374
<ACCUMULATED-NII-PRIOR> 1169467
<ACCUMULATED-GAINS-PRIOR> 2569877
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 867144
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1327330
<AVERAGE-NET-ASSETS> 717714<F1>
<PER-SHARE-NAV-BEGIN> 10.530<F1>
<PER-SHARE-NII> .270<F1>
<PER-SHARE-GAIN-APPREC> .440<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .430<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.810<F1>
<EXPENSE-RATIO> 1.130<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 42
<NAME> PACIFIC CAPITAL TAX-FREE SECURITIES FUND, CLASS B
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 268856180
<INVESTMENTS-AT-VALUE> 291156178
<RECEIVABLES> 4042135
<ASSETS-OTHER> 62635
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 295260948
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1640848
<TOTAL-LIABILITIES> 1640848
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 270397821
<SHARES-COMMON-STOCK> 27102332
<SHARES-COMMON-PRIOR> 26724814
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 922281
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 22299998
<NET-ASSETS> 293620100
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 8348991
<OTHER-INCOME> 0
<EXPENSES-NET> 1265931
<NET-INVESTMENT-INCOME> 7083060
<REALIZED-GAINS-CURRENT> 1915258
<APPREC-INCREASE-CURRENT> 10178579
<NET-CHANGE-FROM-OPS> 19176897
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8252527
<DISTRIBUTIONS-OF-GAINS> 3562854
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1142824
<NUMBER-OF-SHARES-REDEEMED> 1097597
<SHARES-REINVESTED> 332291
<NET-CHANGE-IN-ASSETS> 11411374
<ACCUMULATED-NII-PRIOR> 1169467
<ACCUMULATED-GAINS-PRIOR> 2569877
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 867144
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1327330
<AVERAGE-NET-ASSETS> 286170560<F1>
<PER-SHARE-NAV-BEGIN> 10.560<F1>
<PER-SHARE-NII> .260<F1>
<PER-SHARE-GAIN-APPREC> .450<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .440<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.830<F1>
<EXPENSE-RATIO> .880<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 51
<NAME> PACIFIC CAPITAL TAX-FREE SHORT INTERMEDIATE SECURITIES FUND, CLASS A
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 39709891
<INVESTMENTS-AT-VALUE> 40698329
<RECEIVABLES> 541968
<ASSETS-OTHER> 9070
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 41249367
<PAYABLE-FOR-SECURITIES> 504075
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43330
<TOTAL-LIABILITIES> 547405
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39751188
<SHARES-COMMON-STOCK> 3973531
<SHARES-COMMON-PRIOR> 3974376
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 37664
<ACCUM-APPREC-OR-DEPREC> 988438
<NET-ASSETS> 40701962
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 963818
<OTHER-INCOME> 0
<EXPENSES-NET> 164149
<NET-INVESTMENT-INCOME> 799669
<REALIZED-GAINS-CURRENT> 227096
<APPREC-INCREASE-CURRENT> 315061
<NET-CHANGE-FROM-OPS> 1341826
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 934088
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 313107
<NUMBER-OF-SHARES-REDEEMED> 314383
<SHARES-REINVESTED> 431
<NET-CHANGE-IN-ASSETS> 401886
<ACCUMULATED-NII-PRIOR> 134419
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 264760
<GROSS-ADVISORY-FEES> 101578
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 175009
<AVERAGE-NET-ASSETS> 315761<F1>
<PER-SHARE-NAV-BEGIN> 10.110<F1>
<PER-SHARE-NII> .190<F1>
<PER-SHARE-GAIN-APPREC> .130<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .220<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.210<F1>
<EXPENSE-RATIO> 1.060<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 52
<NAME> PACIFIC CAPITAL TAX-FREE SHORT INTERMEDIATE SECURITIES FUND, CLASS B
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 39709891
<INVESTMENTS-AT-VALUE> 40698329
<RECEIVABLES> 541968
<ASSETS-OTHER> 9070
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 41249367
<PAYABLE-FOR-SECURITIES> 504075
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 43330
<TOTAL-LIABILITIES> 547405
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 39751188
<SHARES-COMMON-STOCK> 3973531
<SHARES-COMMON-PRIOR> 3974376
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 37664
<ACCUM-APPREC-OR-DEPREC> 988438
<NET-ASSETS> 40701962
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 963818
<OTHER-INCOME> 0
<EXPENSES-NET> 164149
<NET-INVESTMENT-INCOME> 799669
<REALIZED-GAINS-CURRENT> 227096
<APPREC-INCREASE-CURRENT> 315061
<NET-CHANGE-FROM-OPS> 1341826
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 934088
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 313107
<NUMBER-OF-SHARES-REDEEMED> 314383
<SHARES-REINVESTED> 431
<NET-CHANGE-IN-ASSETS> 401886
<ACCUMULATED-NII-PRIOR> 134419
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 264760
<GROSS-ADVISORY-FEES> 101578
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 175009
<AVERAGE-NET-ASSETS> 40005010<F1>
<PER-SHARE-NAV-BEGIN> 10.140<F1>
<PER-SHARE-NII> .210<F1>
<PER-SHARE-GAIN-APPREC> .130<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .240<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 10.240<F1>
<EXPENSE-RATIO> .810<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 61
<NAME> PACIFIC CAPITAL DIVERSIFIED FIXED INCOME FUND, CLASS A
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 132904034
<INVESTMENTS-AT-VALUE> 140715064
<RECEIVABLES> 2956143
<ASSETS-OTHER> 18653
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 143689860
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 708106
<TOTAL-LIABILITIES> 708106
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 133696518
<SHARES-COMMON-STOCK> 12558984
<SHARES-COMMON-PRIOR> 5061942
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1474206
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7811030
<NET-ASSETS> 142981754
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3774812
<OTHER-INCOME> 0
<EXPENSES-NET> 509298
<NET-INVESTMENT-INCOME> 3265514
<REALIZED-GAINS-CURRENT> 1926435
<APPREC-INCREASE-CURRENT> 5194204
<NET-CHANGE-FROM-OPS> 10386153
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3537441
<DISTRIBUTIONS-OF-GAINS> 1193682
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13754038
<NUMBER-OF-SHARES-REDEEMED> 6327722
<SHARES-REINVESTED> 70726
<NET-CHANGE-IN-ASSETS> 88127634
<ACCUMULATED-NII-PRIOR> 271927
<ACCUMULATED-GAINS-PRIOR> 741453
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 352861
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 530699
<AVERAGE-NET-ASSETS> 201007<F1>
<PER-SHARE-NAV-BEGIN> 10.750<F1>
<PER-SHARE-NII> .320<F1>
<PER-SHARE-GAIN-APPREC> .660<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .430<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 11.300<F1>
<EXPENSE-RATIO> 1.130<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 62
<NAME> PACIFIC CAPITAL DIVERSIFIED FIXED INCOME FUND, CLASS B
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 132904034
<INVESTMENTS-AT-VALUE> 140715064
<RECEIVABLES> 2956143
<ASSETS-OTHER> 18653
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 143689860
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 708106
<TOTAL-LIABILITIES> 708106
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 133696518
<SHARES-COMMON-STOCK> 12558984
<SHARES-COMMON-PRIOR> 5061942
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1474206
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7811030
<NET-ASSETS> 142981754
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 3774812
<OTHER-INCOME> 0
<EXPENSES-NET> 509298
<NET-INVESTMENT-INCOME> 3265514
<REALIZED-GAINS-CURRENT> 1926435
<APPREC-INCREASE-CURRENT> 5194204
<NET-CHANGE-FROM-OPS> 10386153
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 3537441
<DISTRIBUTIONS-OF-GAINS> 1193682
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 13754038
<NUMBER-OF-SHARES-REDEEMED> 6327722
<SHARES-REINVESTED> 70726
<NET-CHANGE-IN-ASSETS> 88127634
<ACCUMULATED-NII-PRIOR> 271927
<ACCUMULATED-GAINS-PRIOR> 741453
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 352861
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 530699
<AVERAGE-NET-ASSETS> 113669044<F1>
<PER-SHARE-NAV-BEGIN> 10.840<F1>
<PER-SHARE-NII> .280<F1>
<PER-SHARE-GAIN-APPREC> .710<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .440<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 11.390<F1>
<EXPENSE-RATIO> .890<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 71
<NAME> PACIFIC CAPITAL GROWTH AND INCOME FUND, CLASS A
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 55283298
<INVESTMENTS-AT-VALUE> 62902092
<RECEIVABLES> 2973858
<ASSETS-OTHER> 9713
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 65885663
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2989764
<TOTAL-LIABILITIES> 2989764
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 54253351
<SHARES-COMMON-STOCK> 5168537
<SHARES-COMMON-PRIOR> 3683083
<ACCUMULATED-NII-CURRENT> 11648
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1012106
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7618794
<NET-ASSETS> 62895899
<DIVIDEND-INCOME> 605797
<INTEREST-INCOME> 146145
<OTHER-INCOME> 0
<EXPENSES-NET> 294183
<NET-INVESTMENT-INCOME> 457759
<REALIZED-GAINS-CURRENT> 2176068
<APPREC-INCREASE-CURRENT> 2933863
<NET-CHANGE-FROM-OPS> 5567690
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 495065
<DISTRIBUTIONS-OF-GAINS> 1440944
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2448493
<NUMBER-OF-SHARES-REDEEMED> 1068211
<SHARES-REINVESTED> 105172
<NET-CHANGE-IN-ASSETS> 20796600
<ACCUMULATED-NII-PRIOR> 48954
<ACCUMULATED-GAINS-PRIOR> 276982
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 215510
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 306257
<AVERAGE-NET-ASSETS> 374879<F1>
<PER-SHARE-NAV-BEGIN> 11.44<F1>
<PER-SHARE-NII> .070<F1>
<PER-SHARE-GAIN-APPREC> 1.050<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .380<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.180<F1>
<EXPENSE-RATIO> 1.340<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 72
<NAME> PACIFIC CAPITAL GROWTH AND INCOME FUND, CLASS B
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 55283298
<INVESTMENTS-AT-VALUE> 62902092
<RECEIVABLES> 2973858
<ASSETS-OTHER> 9713
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 65885663
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 2989764
<TOTAL-LIABILITIES> 2989764
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 54253351
<SHARES-COMMON-STOCK> 5168537
<SHARES-COMMON-PRIOR> 3683083
<ACCUMULATED-NII-CURRENT> 11648
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1012106
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 7618794
<NET-ASSETS> 62895899
<DIVIDEND-INCOME> 605797
<INTEREST-INCOME> 146145
<OTHER-INCOME> 0
<EXPENSES-NET> 294183
<NET-INVESTMENT-INCOME> 457759
<REALIZED-GAINS-CURRENT> 2176068
<APPREC-INCREASE-CURRENT> 2933863
<NET-CHANGE-FROM-OPS> 5567690
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 495065
<DISTRIBUTIONS-OF-GAINS> 1440944
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2448493
<NUMBER-OF-SHARES-REDEEMED> 1068211
<SHARES-REINVESTED> 105172
<NET-CHANGE-IN-ASSETS> 20796600
<ACCUMULATED-NII-PRIOR> 48954
<ACCUMULATED-GAINS-PRIOR> 276982
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 215510
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 306257
<AVERAGE-NET-ASSETS> 53203959<F1>
<PER-SHARE-NAV-BEGIN> 11.43<F1>
<PER-SHARE-NII> .080<F1>
<PER-SHARE-GAIN-APPREC> 1.050<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .390<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 12.170<F1>
<EXPENSE-RATIO> 1.090<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 81
<NAME> PACIFIC CAPITAL NEW ASIA GROWTH FUND, CLASS A
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 3602219
<INVESTMENTS-AT-VALUE> 4121529
<RECEIVABLES> 267515
<ASSETS-OTHER> 52087
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4441131
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 234009
<TOTAL-LIABILITIES> 234009
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3729052
<SHARES-COMMON-STOCK> 354783
<SHARES-COMMON-PRIOR> 284340
<ACCUMULATED-NII-CURRENT> 1312
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 42475
<ACCUM-APPREC-OR-DEPREC> 519233
<NET-ASSETS> 4207122
<DIVIDEND-INCOME> 32822
<INTEREST-INCOME> 0
<OTHER-INCOME> (1174)
<EXPENSES-NET> 32284
<NET-INVESTMENT-INCOME> (636)
<REALIZED-GAINS-CURRENT> (30884)
<APPREC-INCREASE-CURRENT> 357187
<NET-CHANGE-FROM-OPS> 325667
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8967
<DISTRIBUTIONS-OF-GAINS> 78791
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 225459
<NUMBER-OF-SHARES-REDEEMED> 160630
<SHARES-REINVESTED> 5614
<NET-CHANGE-IN-ASSETS> 1016358
<ACCUMULATED-NII-PRIOR> 109156
<ACCUMULATED-GAINS-PRIOR> 67200
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14407
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52970
<AVERAGE-NET-ASSETS> 529877<F1>
<PER-SHARE-NAV-BEGIN> 11.210<F1>
<PER-SHARE-NII> .000<F1>
<PER-SHARE-GAIN-APPREC> .920<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .280<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 11.850<F1>
<EXPENSE-RATIO> 2.220<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class A Shares
</FN>
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000896647
<NAME> PACIFIC CAPITAL FUNDS
<SERIES>
<NUMBER> 82
<NAME> PACIFIC CAPITAL NEW ASIA GROWTH FUND, CLASS B
<S> <C>
<PERIOD-TYPE> 6 MOS
<FISCAL-YEAR-END> JUL-31-1996
<PERIOD-START> AUG-1-1995
<PERIOD-END> JAN-31-1996
<INVESTMENTS-AT-COST> 3602219
<INVESTMENTS-AT-VALUE> 4121529
<RECEIVABLES> 267515
<ASSETS-OTHER> 52087
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 4441131
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 234009
<TOTAL-LIABILITIES> 234009
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 3729052
<SHARES-COMMON-STOCK> 354783
<SHARES-COMMON-PRIOR> 284340
<ACCUMULATED-NII-CURRENT> 1312
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 42475
<ACCUM-APPREC-OR-DEPREC> 519233
<NET-ASSETS> 4207122
<DIVIDEND-INCOME> 32822
<INTEREST-INCOME> 0
<OTHER-INCOME> (1174)
<EXPENSES-NET> 32284
<NET-INVESTMENT-INCOME> (636)
<REALIZED-GAINS-CURRENT> (30884)
<APPREC-INCREASE-CURRENT> 357187
<NET-CHANGE-FROM-OPS> 325667
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 8967
<DISTRIBUTIONS-OF-GAINS> 78791
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 225459
<NUMBER-OF-SHARES-REDEEMED> 160630
<SHARES-REINVESTED> 5614
<NET-CHANGE-IN-ASSETS> 1016358
<ACCUMULATED-NII-PRIOR> 109156
<ACCUMULATED-GAINS-PRIOR> 67200
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 14407
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 52970
<AVERAGE-NET-ASSETS> 2654119<F1>
<PER-SHARE-NAV-BEGIN> 11.220<F1>
<PER-SHARE-NII> .000<F1>
<PER-SHARE-GAIN-APPREC> .930<F1>
<PER-SHARE-DIVIDEND> .000<F1>
<PER-SHARE-DISTRIBUTIONS> .290<F1>
<RETURNS-OF-CAPITAL> .000<F1>
<PER-SHARE-NAV-END> 11.860<F1>
<EXPENSE-RATIO> 1.980<F1>
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
<FN>
<F1>Class B Shares
</FN>
</TABLE>
[ERNST & YOUNG LLP LETTERHEAD]
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 October 14,
1994 to July 31, 1995. 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
October 14, 1994 to July 31, 1995. 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 October 14, 1994 to
July 31, 1995.
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.
<PAGE>
[ERNST & YOUNG LLP LOGO]
The description of specific policies and procedures of the Fund's Multiple
Class System for the period October 14, 1994 to July 31, 1995, and information
about tests of the operating effectiveness of specified policies and procedures
covered the period noted above. 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 LLP
September 13, 1995
<PAGE>
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
<PAGE>
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 of the "Company". The dividend policy of the Pacific Capital
Funds is to declare and pay net income monthly except for the New Asia Growth
Fund which declares and pays net income quarterly. 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");
(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
<PAGE>
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; (e) Securities and Exchange Commission
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 that
they 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 dividend/distributions according to the Portfolio's
dividend priority are as follows:
Dividend/Distributions -- Determine distribution by class of shares by
completing "NAV and Distribution per Share Worksheet for Funds that Do
Not Declare Daily" (See Exhibit 1).
NAV -- Determine NAV by class of shares by completing "NAV and Distribution
per Share Worksheet for Funds that Do Not Declare Dividends/Distributions
Daily" (See Exhibit 1).
<PAGE>
V. CONTROL OBJECTIVES AND PROCEDURES
The Worksheet is a supplementary manual application of the Group'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 Group's primary accounting system.
Control Objectives Control Procedures
------------------ ------------------
1. Direct expenses charged to each class A. Class-specific expenses are
of shares are correctly recorded in calculated by the Worksheet
the fund accounting records and are and reconciled with the
allocated properly to the correct primary accounting system.
class of shares.
2. Gross income, other operating A. Gross income, other operating
expenses, realized gains/losses and expenses, realized gains/losses
unrealized gains/losses are allocated and unrealized gains/losses are
properly to each class of shares allocated according to
based upon prior day's net assets percentages calculated for each
plus current day's shareholder class of shares based upon the
activity. 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 NAVs per A. The sum of each class's net
share for each class of shares reflect investment income and gains/
the proper allocation of income and losses is agreed to the
operating expenses as well as the full composite totals for the fund and
amount of any direct expenses to the primary accounting system.
charged to the respective class of
shares.
<PAGE>
Control Objectives Control Procedures
------------------ ------------------
A. 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.
<PAGE>
MULTIPLE PRICING FUNDS--VARIABLE NAV FUNDS
NAV AND DISTRIBUTION PER SHARE FOR FUNDS THAT DO NOT
DECLARE DIVIDENDS/DISTRIBUTIONS DAILY EXHIBIT I
FUND
----------------------
<TABLE>
<CAPTION>
DATE TOTAL CLASS A CLASS B CLASS C
---------------------- ----------------- ------------------ ------------------ ------------------
<S> <C> <C> <C> <C>
1 PRIOR DAY NAV PER SHARE
a (ROUNDED) [26, PRIOR DAY]
------------------ ------------------ ------------------
b (UNROUNDED)
------------------ ------------------ ------------------
ALLOCATION PERCENTAGES
- - ----------------------
2 SHARES OUTSTANDING-- PRIOR DAY
------------------ ------------------ ------------------ ------------------
3 TOTAL NET ASSETS [2*1] -- PRIOR DAY
------------------ ------------------ ------------------ ------------------
4 CURRENT DAYS SHAREHOLDER ACTIVITY ($)
------------------ ------------------ ------------------ ------------------
5 NET ASSETS BEGINNING OF DAY [3+4]
------------------ ------------------ ------------------ ------------------
6 % NET ASSETS BEGINNING OF DAY BY CLASS
[5(A)/5(T) & 5(B)/5(T) & 5(C)/5(T)] 100%
------------------ ------------------ ------------------ ------------------
7 SHARES OUTSTANDING, CURRENT DAY
------------------ ------------------ ------------------ ------------------
INCOME AND EXPENSES
- - -------------------
8 DAILY GROSS INCOME [8(T)*6(A)
OR 6(B) OR 6(C)]
------------------ ------------------ ------------------ ------------------
9 COMMON MGT EXPENSES**[9(T)*
6(A) OR 6(B) OR 6(C)
------------------ ------------------ ------------------ ------------------
10 COMMON FIXED EXPENSES**[10(T)*
6(A) OR 6(B) OR 6(C)
------------------ ------------------ ------------------ ------------------
11 12B-1 FEES
------------------ ------------------ ------------------ ------------------
12 CLASS EXPENSES
-TRANSFER AGENT
------------------ ------------------ ------------------ ------------------
-PRINTING/POSTAGE
------------------ ------------------ ------------------ ------------------
-BLUE SKY REGISTRATION
------------------ ------------------ ------------------ ------------------
-SEC REGISTRATION
------------------ ------------------ ------------------ ------------------
-ADMINISTRATION
------------------ ------------------ ------------------ ------------------
-LEGAL
------------------ ------------------ ------------------ ------------------
-TRUSTEE
------------------ ------------------ ------------------ ------------------
13 TOTAL DAILY EXPENSES [9+10+11+12]
------------------ ------------------ ------------------ ------------------
14 DAILY NET INCOME [8-13]
------------------ ------------------ ------------------ ------------------
CAPITAL & NAV PROOF
- - -------------------
15 CUMULATIVE UNDISTRIBUTED INCOME
--PRIOR DAY [17, PRIOR DAY]
------------------ ------------------ ------------------ ------------------
16 INCOME DISTRIBUTED***
------------------ ------------------ ------------------ ------------------
17 CUMULATIVE UNDISTRIBUTED INCOME
--CURRENT DAY [14+15-16]
------------------ ------------------ ------------------ ------------------
18 CUMULATIVE UNDISTRIBUTED REAL GAIN/LOSS
--PRIOR DAY [21, PRIOR DAY]
------------------ ------------------ ------------------ ------------------
19 REALIZED GAIN/LOSS CURRENT DAY
[19(T)*6(A) OR 6(B) OR 6(C)]
------------------ ------------------ ------------------ ------------------
20 CAPITAL GAIN DISTRIBUTION***
------------------ ------------------ ------------------ ------------------
21 CUMULATIVE UNDISTRIBUTED GAIN/LOSS
--CURRENT DAY [18+19-20]
------------------ ------------------ ------------------ ------------------
22 UNREALIZED APPR/DEPR -- CURRENT DAY
[22(T)*6(A) OR 6(B) OR 6(C)]
------------------ ------------------ ------------------ ------------------
23 DAILY NET ASSET CHANGE
[14-16+19-20+22+4]
------------------ ------------------ ------------------ ------------------
24 PRIOR DAY NET ASSETS
------------------ ------------------ ------------------ ------------------
25 CURRENT DAY NET ASSETS [23+24]
------------------ ------------------ ------------------ ------------------
26 NAV PER SHARE [25/7]
------------------ ------------------ ------------------ ------------------
27 SALES LOAD AS A PERCENT OF OFFERING
PRICE
------------------ ------------------ ------------------ ------------------
28 OFFERING PRICE [26/(100% - 27)]
------------------ ------------------ ------------------
------------------ ------------------ ------------------
** EXPENSES COMMON TO EACH CLASS OF SHARES, INCLUDING TRUST EXPENSES AND PORTFOLIO EXPENSES
*** NET INCOME AND CAPITAL GAINS ARE DISTRIBUTED VIA THE RECORD SHARE METHOD
</TABLE>
<PAGE>
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 policies 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,
and
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 October 14, 1994 to July 31, 1995.
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 and policy statements, (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
October 14, 1994 to July 31, 1995. Our tests of the operational effectiveness
of control structure policies and procedures were designed to cover a
representative number of calculations throughout the period October 14, 1994
to July 31, 1995 for each of the functions listed in Section II which satisfy
the control objectives listed in Section II of this report. In selecting
particular tests 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.
<PAGE>
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.
- Tests 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 October 14, 1994 to July 31, 1995.
<PAGE>
