INVESTORS BANK & TRUST COMPANY
August 26, 1994
VIA EDGAR
Securities and Exchange Commission
Office of Filings, Information and Consumer Services
450 Fifth Street, NW
Washington, DC 20549
RE: The PanAgora Funds (the "Fund")
1940 Act File No. 811-7464
1933 Act File No. 33-57740
-------------------------------
Ladies and Gentlemen:
Pursuant to Rule 497 (j) of the Securities Act of 1933, the
above referenced Fund hereby certifies that the form of
prospectus and statement of additional information that would
have been filed under Rule 497 (c) would not have differed from
that contained in Post-Effective Amendment No. 2 to the Fund's
Registration Statement which was filed electronically with the
Securities and Exchange Commission on August 22, 1994.
Please call me at (617) 330-6413 if you have any questions
concerning this filing.
Very truly yours,
/s/ Debra M. Brown
----------------------
Debra M. Brown
Assistant Vice President
and Counsel
89 South Street, P.O. Box 1537, Boston, MA 02205-1537 * Tel: (617) 330-6700
