<PAGE> PAGE 1
000 B000000 02/28/98
000 C000000 0000914243
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 Y
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 TIP INSTITUTIONAL FUNDS
001 B000000 811-8104
001 C000000 8000000000
002 A000000 530 E. SWEDESFORD ROAD
002 B000000 WAYNE
002 C000000 PA
002 D010000 19087
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 TURNER SHORT DURATION GOV'T- 1 YEAR PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 TURNER SHORT DURATION GOV'T- 3 YEAR PORTFOLIO
007 C030200 N
007 C010300 3
007 C010400 4
007 C010500 5
007 C010600 6
007 C010700 7
007 C010800 8
007 C010900 9
007 C011000 10
008 A00AA01 TURNER INVESTMENT PARTNERS, INC.
008 B00AA01 A
008 C00AA01 801-36220
008 D01AA01 BERWYN
008 D02AA01 PA
008 D03AA01 19312
010 A00AA01 SEI FUND RESOURCES
010 C01AA01 WAYNE
010 C02AA01 PA
010 C03AA01 19087
010 C04AA01 1658
011 A00AA01 SEI INVESTMENTS DISTRIBUTION CO.
011 B00AA01 8-27897
011 C01AA01 WAYNE
011 C02AA01 PA
<PAGE> PAGE 2
011 C03AA01 19087
011 C04AA01 1658
012 A00AA01 DST SYSTEMS INC.
012 B00AA01 84-0000
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64105
013 A00AA01 ERNST & YOUNG, LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
013 B04AA01 7096
014 A00AA01 SEI INVESTMENTS DISTRIBUTION CO.
014 B00AA01 8-27897
015 A00AA01 CORESTATES BANK, N.A.
015 B00AA01 C
015 C01AA01 PHILADELPHIA
015 C02AA01 PA
015 C03AA01 19101
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
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019 C00AA00 TIP_INSTIT
022 A000001 PAINE WEBBER
022 C000001 294403
022 D000001 0
022 A000002 FREDDIE MAC
022 C000002 9200
022 D000002 9363
022 A000003 MERRILL LYNCH
022 C000003 5832
022 D000003 61
022 A000004 BZW SECURITIES
022 C000004 3806
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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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SIGNATURE ROBERT DELLACROCE
TITLE CONTROLLER
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0000914243
<NAME> TIP INSTITUTIONAL FUNDS
<SERIES>
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<NAME> TURNER SHORT DURATION GOVERNMENT FUNDS - 1 YEAR PORTFOLIO
<MULTIPLIER> 1
<S> <C>
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<PERIOD-START> MAR-01-1997
<PERIOD-END> FEB-28-1998
<INVESTMENTS-AT-COST> 1165
<INVESTMENTS-AT-VALUE> 1167
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<OTHER-ITEMS-LIABILITIES> (23)
<TOTAL-LIABILITIES> (23)
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<SHARES-COMMON-STOCK> 118607
<SHARES-COMMON-PRIOR> 85941
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<SHARES-REINVESTED> 66
<NET-CHANGE-IN-ASSETS> 331
<ACCUMULATED-NII-PRIOR> 184
<ACCUMULATED-GAINS-PRIOR> 2420
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<AVG-DEBT-PER-SHARE> 0
</TABLE>
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<CIK> 0000914243
<NAME> TIP INSTITUTIONAL FUNDS
<SERIES>
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<PERIOD-START> MAR-01-1997
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<INVESTMENTS-AT-VALUE> 17368
<RECEIVABLES> 746
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<NET-CHANGE-IN-ASSETS> (2265)
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</TABLE>
Report of Independent Auditors
Board of Directors
TIP Institutional Funds
In planning and performing our audits of the financial statements
of the TIP Institutional Funds (the Funds) for the year ended
February 28, 1998, we considered their internal control, including
control activities 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.
The management of the Funds is responsible for establishing
and maintaining internal control. In fulfilling this responsibility,
estimates and judgments by management are required to assess
the expected benefits and related costs of controls. Generally,
controls that are relevant to an audit pertain to the entity's
objective of preparing financial statements for external purposes
that are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal control, errors or
fraud may occur and not be detected. Also, projection of any
evaluation of internal control to future periods is subject to the
risk that 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 would not necessarily
disclose all matters in the internal control 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 one or more
of the internal control components does not reduce to a
relatively low level the risk that errors or fraud 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 no matters involving the internal
control and its operation, including controls for safeguarding
securities, that we consider to be material weaknesses as
defined above as of February 28, 1998.
This report is intended solely for the information and use of the
Board of Directors and management of the TIP Institutional
Funds and the Securities and Exchange Commission.
Ernst & Young
March 30, 1998
