[INVESTORS BANK & TRUST COMPANY LETTERHEAD]
October 3, 1997
VIA EDGAR
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: The PanAgora Institutional Funds
File Nos. 33-57740 and 811-7464
Ladies and Gentlemen:
Pursuant to Rule 497(j) of the Securities Act of 1933, as amended,
and on behalf of The PanAgora Institutional Funds (the "Trust"), the
undersigned certifies that (i) the form of the Trust's Prospectus dated
October 1, 1997 and Statement of Additional Information dated October 1,
1997 that would have been filed under paragraph (c) of Rule 497 would not
have differed from those contained in Post-Effective Amendment ("PEA")
No. 5, the most recent amendment to the Trust's Registration Statement on
Form N-1A, which became effective with the Commission on October 1, 1997,
and (ii) the text of PEA No. 5 was filed electronically via EDGAR on
September 29, 1997.
Questions regarding this filing should be directed to the
undersigned at (617) 330-6335, or in his absence, to Susan C. Mosher,
Esq. at (617) 330-6413.
Very truly yours,
/s/ Andrew S. Josef
Andrew S. Josef, Esq.
cc: Richard A. Crowell
Mark Goshko, Esq.
Susan Mosher, Esq.