<PAGE> PAGE 1
000 B000000 07/31/1999
000 C000000 0000906468
000 D000000 N
000 E000000 NF
000 F000000 Y
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000 I000000 6.1
000 J000000 A
001 A000000 THE PLANTERS FUNDS
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001 C000000 4122888260
002 A000000 1001 LIBERTY AVENUE
002 B000000 PITTSBURGH
002 C000000 PA
002 D010000 15222
002 D020000 3779
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 1
007 C010100 1
007 C020100 TENNESSEE TAX-FREE BOND FUND
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007 C010600 6
007 C010700 7
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007 C011000 10
008 A00AA01 UNION PLANTERS NATIONAL BANK
008 B00AA01 A
008 C00AA01 801-0000
008 D01AA01 MEMPHIS
008 D02AA01 TN
008 D03AA01 38147
010 A00AA01 FEDERATED SERVICES COMPANY
010 C01AA01 PITTSBURGH
010 C02AA01 PA
010 C03AA01 15222
010 C04AA01 3779
011 A00AA01 FEDERATED SECURITIES CORP.
011 B00AA01 8-15561
011 C01AA01 PITTSBURGH
011 C02AA01 PA
011 C03AA01 15222
<PAGE> PAGE 2
011 C04AA01 3779
012 A00AA01 FEDERATED SHAREHOLDER SERVICES COMPANY
012 B00AA01 84-1869
012 C01AA01 PITTSBURGH
012 C02AA01 PA
012 C03AA01 15222
012 C04AA01 3779
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 BOSTON
013 B02AA01 MA
013 B03AA01 02110
015 A00AA01 STATE STREET BANK AND TRUST COMPANY
015 B00AA01 C
015 C01AA01 BOSTON
015 C02AA01 MA
015 C03AA01 02266
015 C04AA01 8600
015 E01AA01 X
015 A00AA02 BANKERS TRUST CO.
015 B00AA02 S
015 C01AA02 NEW YORK
015 C02AA02 NY
015 C03AA02 10015
015 E01AA02 X
015 A00AA03 BANK OF NEW YORK
015 B00AA03 S
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015 C02AA03 NY
015 C03AA03 10006
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015 A00AA04 THE CHASE MANHATTAN CORP.
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015 A00AA05 MORGAN GUARANTY BANK & TRUST CO.
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015 C01AA05 NEW YORK
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015 C03AA05 10015
015 E01AA05 X
015 A00AA06 NATIONSBANK OF NORTH CAROLINA
015 B00AA06 S
015 C01AA06 CHARLOTTE
015 C02AA06 NC
015 C03AA06 28255
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015 B00AA07 S
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<PAGE> PAGE 3
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022 A000003 STERNE, AGEE & LEACH
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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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SIGNATURE STEVE KEANE
TITLE GENERAL COUNSEL
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000906468
<NAME> THE PLANTERS FUNDS
<SERIES>
<NUMBER> 01
<NAME> TENNESSEE TAX FREE BOND FUND
<S> <C>
<PERIOD-TYPE> 12-MOS
<FISCAL-YEAR-END> Jul-31-1999
<PERIOD-END> Jul-31-1999
<INVESTMENTS-AT-COST> 17,265,483
<INVESTMENTS-AT-VALUE> 17,636,999
<RECEIVABLES> 301,783
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 17,938,782
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 276,039
<TOTAL-LIABILITIES> 276,039
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 17,234,919
<SHARES-COMMON-STOCK> 1,650,812
<SHARES-COMMON-PRIOR> 1,826,537
<ACCUMULATED-NII-CURRENT> 50,613
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 5,695
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 371,516
<NET-ASSETS> 17,662,743
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 960,702
<OTHER-INCOME> 0
<EXPENSES-NET> (275,586)
<NET-INVESTMENT-INCOME> 685,116
<REALIZED-GAINS-CURRENT> 14,072
<APPREC-INCREASE-CURRENT> (307,792)
<NET-CHANGE-FROM-OPS> 391,396
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (707,893)
<DISTRIBUTIONS-OF-GAINS> (3,323)
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 22,572
<NUMBER-OF-SHARES-REDEEMED> (215,634)
<SHARES-REINVESTED> 17,337
<NET-CHANGE-IN-ASSETS> (2,243,993)
<ACCUMULATED-NII-PRIOR> 73,424
<ACCUMULATED-GAINS-PRIOR> (5,089)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 143,708
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 419,294
<AVERAGE-NET-ASSETS> 19,151,838
<PER-SHARE-NAV-BEGIN> 10.900
<PER-SHARE-NII> 0.390
<PER-SHARE-GAIN-APPREC> (0.180)
<PER-SHARE-DIVIDEND> (0.400)
<PER-SHARE-DISTRIBUTIONS> (0.010)
<RETURNS-OF-CAPITAL> 0.000
<PER-SHARE-NAV-END> 10.700
<EXPENSE-RATIO> 1.44
[AVG-DEBT-OUTSTANDING] 0
[AVG-DEBT-PER-SHARE] 0.000
</TABLE>
Independent Accountants' Report
To the Trustees and Shareholders of
TENNESSEE TAX-FREE BOND FUND
(A Portfolio of The Planters Funds):
In our opinion, the accompanying statement of assets and liabilities,
including the
portfolio of investments (except for the Credit Ratings), and the related
statements of
operations and of changes in net assets and the financial highlights present
fairly, in all
material respects, the financial position of The Tennessee Tax-Free Bond Fund
(the "Fund") at July 31, 1999, the results of its operations for the year then
ended, the changes
in its net assets and the financial highlights for the periods indicated, in
conformity with
generally accepted accounting principles. These financial statements and
financial highlights (hereafter referred to as "financial statements") are the
responsibility of the
Fund's management; our responsibility is to express an opinion on these
financial statements based on our audits. We conducted our audits of these
financial statements in accordance with generally accepted auditing standards
which require that we plan and
perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatements. An audit includes examining,
on a test basis, evidence supporting the amounts and disclosures in the
financial statements, assessing the accounting principles used and
significant estimates made by management, and evaluating the overall
financial statement presentation. We believe that our audits, which included
confirmation of securities at July 31, 1999 by correspondence with the
custodian, provide a reasonable basis for the opinion expressed above.
PricewaterhouseCoopers LLP
Boston, Massachusetts
September 20, 1999
