NORTHSTAR GALAXY TRUST
485BPOS, 2000-04-11
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     As filed with the Securities and Exchange Commission on April 11, 2000

                        Securities Act File No. 33-73140
                    Investment Company Act File No. 811-8220

================================================================================

                     U.S. SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549

                                 --------------

                                    FORM N-1A

          Registration Statement Under The Securities Act Of 1933     |X|

                           Pre-Effective Amendment No. ____           |-|

                          Post-Effective Amendment No. 16             |X|

                                     and/or

      Registration Statement Under The Investment Company Act Of 1940 |X|

                                 Amendment No. 17                     |X|
                        (Check appropriate box or boxes)

                             Northstar Galaxy Trust
                 (Exact Name of Registrant Specified in Charter)

                       40 North Central Avenue, Suite 1200
                                Phoenix, AZ 85004
                    (Address of Principal Executive Offices)
       Registrant's Telephone Number, Including Area Code: (800) 551-8643


       James M. Hennessy, Esq.                             With Copies To:
       Pilgrim Investments, Inc.                       Jeffrey S. Puretz, Esq.
  40 North Central Avenue, Suite 1200                 Dechert Price & Rhoads
          Phoenix, AZ 85004                            1775 Eye Street, N.W.
(Name and Address of Agent for Service)               Washington, D.C. 20006

                            ------------------------

 It is proposed that this filing will become effective (check appropriate box):
<TABLE>
<S>     <C>                                                   <C>      <C>

|_|      Immediately upon filing pursuant to paragraph (b)    |X|      on April 30, 2000 pursuant to paragraph (b)

|_|      60 days after filing pursuant to paragraph (a)(1)    |_|      on (date) pursuant to paragraph (a)(1)

|_|      75 days after filing pursuant to paragraph (a)(2)    |_|      on (date) pursuant to paragraph (a)(2) of Rule 485
</TABLE>

If appropriate, check the following box:

|X|  This  post-effective  amendment  designated  a  new  effective  date  for a
previously filed post-effective amendment.


================================================================================


<PAGE>

This Post-Effective  Amendment No. 16 to the Registration Statement on Form N-1A
for Northstar Galaxy Trust  incorporates by reference the Prospectus,  Statement
of Additional  Information and Part C contained in Post-Effective  Amendment No.
15,  which was filed with the  Securities  and  Exchange  Commission  ("SEC") on
January 28,  2000.  This  Post-Effective  Amendment is being filed to extend the
effective date of Post-Effective Amendment No. 15 to April 30, 2000.


<PAGE>

                                   Signatures

Pursuant to the  requirements  of the  Securities  Act of 1933,  as amended (the
"1933 Act"),  and the  Investment  Company Act of 1940,  as amended,  Registrant
certifies  that  it  meets  all  the  requirements  for  effectiveness  of  this
Registration  Statement  pursuant to Rule 485(b) under the 1933 Act and has duly
caused this  Post-Effective  Amendment No. 16 to the  Registrant's  Registration
Statement  to be  signed  on its  behalf  by  the  undersigned,  thereunto  duly
authorized,  in the City of Phoenix  and the State of Arizona on the 11th day of
April 2000.

                                   Registrant

                                   By:  /s/ Robert W. Stallings
                                        -------------------------------------
                                        Robert W. Stallings, President

Pursuant to the  requirements of the Securities Act of 1933,  this  Registration
Statement has been signed below by the following  persons in the  capacities and
on the date indicated.

SIGNATURE                                TITLE                  DATE

/s/ Robert W. Stallings               President
- ------------------------------   Principal Executive       April 11, 2000
Robert W. Stallings                     Officer)

- ------------------------------          Trustee            April 11, 2000
John G. Turner*

- ------------------------------          Trustee            April 11, 2000
Mark L. Lipson*

- ------------------------------          Trustee            April 11, 2000
Paul S. Doherty*

- ------------------------------          Trustee            April 11, 2000
Robert B. Goode, Jr.*

- ------------------------------          Trustee            April 11, 2000
David W. Wallace*

- ------------------------------          Trustee            April 11, 2000
Walter May*

- ------------------------------          Trustee            April 11, 2000
Alan L. Gosule*

- ------------------------------          Trustee            April 11, 2000
David W.C. Putnam*

- ------------------------------          Trustee            April 11, 2000
John R. Smith*

- ------------------------------ Senior Vice President and   April 11, 2000
Michael J. Roland*             Principal Financial Officer


*By: /s/ James M. Hennessy
     -------------------------
     James M. Hennessy, Attorney-in-fact**

**   Powers of Attorney  for  Trustees  and  Michael J. Roland are  incorporated
     herein by reference to Post-Effective  Amendment No. 15 to the Registration
     Statement on Form N-1A as filed on January 28, 2000.



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