<PAGE>
000 A000000 09/30/1999
000 C000000 0000918267
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 6.1
000 J000000 A
001 A000000 INSTITUTIONAL DAILY INCOME FUND
001 B000000 811-8312
001 C000000 2128305200
002 A000000 600 FIFTH AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10020
002 D020000 2302
003 000000 N
004 000000 N
005 000000 N
006 000000 N
007 A000000 Y
007 B000000 2
007 C010100 1
007 C020100 MONEY MARKET PORTFOLIO
007 C030100 N
007 C010200 2
007 C020200 U.S. GOVERNMENT 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 REICH & TANG ASSET MANAGEMENT L.P.
008 B00AA01 A
008 C00AA01 801-47230
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10020
008 D04AA01 2302
011 A00AA01 REICH & TANG DISTRIBUTORS INC.
011 B00AA01 8-43429
011 C01AA01 NEW YORK
011 C02AA01 NY
011 C03AA01 10020
011 C04AA01 2302
012 A00AA01 REICH & TANG SERVICES INC.
<PAGE>
012 B00AA01 84-2007
012 C01AA01 NEW YORK
012 C02AA01 NY
012 C03AA01 10020
012 C04AA01 2302
013 A00AA01 PRICE WATERHOUSE COOPERS LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
015 A00AA01 INVESTORS FIDUCIARY TRUST COMPANY
015 B00AA01 C
015 C01AA01 KANSAS CITY
015 C02AA01 MO
015 C03AA01 64105
015 E01AA01 X
018 00AA00 Y
019 A00AA00 Y
019 B00AA00 22
019 C00AA00 REICHTANGI
020 A000001 0
020 C000001 0
020 C000002 0
020 C000003 0
020 C000004 0
020 C000005 0
020 C000006 0
020 C000007 0
020 C000008 0
020 C000009 0
020 C000010 0
021 000000 0
022 A000001 MORGAN STANLEY & CO. INCORPORATED
022 B000001 13-2655998
022 C000001 25353000
022 D000001 118016
022 A000002 GOLDMAN,SACHS & CO.
022 B000002 13-5108880
022 C000002 16509453
022 D000002 25134
022 A000003 SALOMAN SMITH BARNEY INC.
022 B000003 11-2418191
022 C000003 14879992
022 D000003 0
022 A000004 MORGAN (J.P.) SECURITIES INC.
022 B000004 13-3224016
022 C000004 13669092
022 D000004 0
022 A000005 BANK ONE
022 B000005 86-0064160
022 C000005 1366203
022 D000005 0
<PAGE>
022 A000006 WESTDEUTSCHE LANDESBANK
022 B000006 13-2677075
022 C000006 1334000
022 D000006 0
022 A000007 CIBC OPPENHEIMER CORP.
022 B000007 13-2798343
022 C000007 893238
022 D000007 0
022 A000008 DRESDNER
022 B000008 13-2722082
022 C000008 711000
022 D000008 0
022 A000009 SEATTLE - NORTHWEST SECURITIES CORPORATION
022 B000009 91-1172183
022 C000009 372315
022 D000009 0
022 A000010 TORONTO DOMINION SECURITIES (USA) INC.
022 B000010 22-2203727
022 C000010 358101
022 D000010 0
023 C000000 76506616
023 D000000 165552
024 00AA00 N
025 D00AA01 0
025 D00AA02 0
025 D00AA03 0
025 D00AA04 0
025 D00AA05 0
025 D00AA06 0
025 D00AA07 0
025 D00AA08 0
026 A000000 N
026 B000000 N
026 C000000 N
026 D000000 Y
026 E000000 N
026 F000000 N
026 G010000 N
026 G020000 N
026 H000000 N
027 000000 Y
029 00AA00 N
030 A00AA00 0
030 B00AA00 0.00
030 C00AA00 0.00
031 A00AA00 0
031 B00AA00 0
032 00AA00 0
033 00AA00 0
045 00AA00 Y
046 00AA00 N
<PAGE>
047 00AA00 Y
048 00AA00 0.120
048 A01AA00 0
048 A02AA00 0.000
048 B01AA00 0
048 B02AA00 0.000
048 C01AA00 0
048 C02AA00 0.000
048 D01AA00 0
048 D02AA00 0.000
048 E01AA00 0
048 E02AA00 0.000
048 F01AA00 0
048 F02AA00 0.000
048 G01AA00 0
048 G02AA00 0.000
048 H01AA00 0
048 H02AA00 0.000
048 I01AA00 0
048 I02AA00 0.000
048 J01AA00 0
048 J02AA00 0.000
048 K01AA00 0
048 K02AA00 0.000
049 00AA00 N
050 00AA00 N
051 00AA00 N
052 00AA00 N
053 A00AA00 Y
053 B00AA00 Y
053 C00AA00 N
054 A00AA00 Y
054 B00AA00 N
054 C00AA00 N
054 D00AA00 N
054 E00AA00 N
054 F00AA00 N
054 G00AA00 N
054 H00AA00 Y
054 I00AA00 N
054 J00AA00 Y
054 K00AA00 N
054 L00AA00 N
054 M00AA00 Y
054 N00AA00 N
054 O00AA00 N
055 A00AA00 N
055 B00AA00 N
056 00AA00 Y
057 00AA00 N
058 A00AA00 N
<PAGE>
059 00AA00 Y
060 A00AA00 Y
060 B00AA00 Y
061 00AA00 1000000
066 A00AA00 N
067 00AA00 N
068 A00AA00 N
068 B00AA00 N
069 00AA00 N
077 A000000 Y
077 B000000 N
077 C000000 N
077 D000000 N
077 E000000 N
077 F000000 N
077 G000000 N
077 H000000 N
077 I000000 N
077 J000000 N
077 K000000 N
077 L000000 N
077 M000000 N
077 N000000 N
077 O000000 N
077 P000000 N
077 Q010000 Y
077 Q020000 N
077 Q030000 N
078 000000 N
080 C00AA00 0
081 B00AA00 0
082 B00AA00 0
083 B00AA00 0
084 B00AA00 0
086 A010000 0
086 A020000 0
086 B010000 0
086 B020000 0
086 C010000 0
086 C020000 0
086 D010000 0
086 D020000 0
086 E010000 0
086 E020000 0
086 F010000 0
086 F020000 0
028 A010100 219193
028 A020100 1079
028 A030100 0
028 A040100 245656
028 B010100 217402
<PAGE> PAGE 6
028 B020100 1961
028 B030100 0
028 B040100 179536
028 C010100 137544
028 C020100 1845
028 C030100 0
028 C040100 170971
028 D010100 308096
028 D020100 1823
028 D030100 0
028 D040100 201384
028 E010100 301309
028 E020100 2328
028 E030100 0
028 E040100 270081
028 F010100 180642
028 F020100 3683
028 F030100 0
028 F040100 170250
028 G010100 1364186
028 G020100 12719
028 G030100 0
028 G040100 1237878
028 H000100 0
034 000100 N
035 000100 0
036 B000100 0
037 000100 N
038 000100 0
039 000100 N
040 000100 Y
041 000100 Y
042 A000100 0
042 B000100 0
042 C000100 100
042 D000100 0
042 E000100 0
042 F000100 0
042 G000100 0
042 H000100 0
043 000100 351
044 000100 0
062 A000100 Y
062 B000100 0.0
062 C000100 0.0
062 D000100 1.1
062 E000100 0.0
062 F000100 0.0
062 G000100 3.9
062 H000100 0.0
062 I000100 49.6
<PAGE> PAGE 7
062 J000100 7.9
062 K000100 0.0
062 L000100 37.5
062 M000100 0.0
062 N000100 0.0
062 O000100 0.0
062 P000100 0.0
062 Q000100 0.0
062 R000100 0.0
063 A000100 40
063 B000100 0.0
064 A000100 Y
064 B000100 N
070 A010100 Y
070 A020100 Y
070 B010100 N
070 B020100 N
070 C010100 N
070 C020100 N
070 D010100 N
070 D020100 N
070 E010100 N
070 E020100 N
070 F010100 N
070 F020100 N
070 G010100 N
070 G020100 N
070 H010100 N
070 H020100 N
070 I010100 N
070 I020100 N
070 J010100 N
070 J020100 N
070 K010100 Y
070 K020100 N
070 L010100 N
070 L020100 N
070 M010100 N
070 M020100 N
070 N010100 N
070 N020100 N
070 O010100 N
070 O020100 N
070 P010100 N
070 P020100 N
070 Q010100 N
070 Q020100 N
070 R010100 N
070 R020100 N
071 A000100 0
071 B000100 0
<PAGE>
071 C000100 0
071 D000100 0
072 A000100 6
072 B000100 14104
072 C000100 0
072 D000100 0
072 E000100 0
072 F000100 327
072 G000100 136
072 H000100 0
072 I000100 57
072 J000100 28
072 K000100 1
072 L000100 2
072 M000100 3
072 N000100 29
072 O000100 0
072 P000100 0
072 Q000100 30
072 R000100 5
072 S000100 17
072 T000100 351
072 U000100 1
072 V000100 0
072 W000100 8
072 X000100 995
072 Y000100 99
072 Z000100 13208
072AA000100 0
072BB000100 0
072CC010100 0
072CC020100 0
072DD010100 6639
072DD020100 6569
072EE000100 0
073 A010100 0.0235
073 A020100 0.0248
073 B000100 0.0000
073 C000100 0.0000
074 A000100 0
074 B000100 7000
074 C000100 635016
074 D000100 0
074 E000100 0
074 F000100 0
074 G000100 0
074 H000100 0
074 I000100 0
074 J000100 723
074 K000100 0
074 L000100 1298
<PAGE>
074 M000100 0
074 N000100 644037
074 O000100 0
074 P000100 155
074 Q000100 0
074 R010100 0
074 R020100 0
074 R030100 0
074 R040100 1478
074 S000100 0
074 T000100 642404
074 U010100 360096
074 U020100 282308
074 V010100 1.00
074 V020100 1.00
074 W000100 1.0000
074 X000100 144
074 Y000100 0
075 A000100 545450
075 B000100 0
076 000100 0.00
028 A010200 86867
028 A020200 2737
028 A030200 0
028 A040200 130650
028 B010200 91774
028 B020200 2825
028 B030200 0
028 B040200 149294
028 C010200 164871
028 C020200 2518
028 C030200 0
028 C040200 174841
028 D010200 121973
028 D020200 2490
028 D030200 0
028 D040200 116078
028 E010200 167411
028 E020200 2653
028 E030200 0
028 E040200 107268
028 F010200 109442
028 F020200 3150
028 F030200 0
028 F040200 138142
028 G010200 742338
028 G020200 16373
028 G030200 0
028 G040200 816273
028 H000200 0
034 000200 N
<PAGE>
035 000200 0
036 B000200 0
037 000200 N
038 000200 0
039 000200 N
040 000200 Y
041 000200 Y
042 A000200 0
042 B000200 0
042 C000200 100
042 D000200 0
042 E000200 0
042 F000200 0
042 G000200 0
042 H000200 0
043 000200 834
044 000200 22
062 A000200 Y
062 B000200 52.5
062 C000200 0.0
062 D000200 47.2
062 E000200 0.0
062 F000200 0.0
062 G000200 0.0
062 H000200 0.0
062 I000200 0.0
062 J000200 0.0
062 K000200 0.0
062 L000200 0.3
062 M000200 0.0
062 N000200 0.0
062 O000200 0.0
062 P000200 0.0
062 Q000200 0.0
062 R000200 0.0
063 A000200 42
063 B000200 0.0
064 A000200 Y
064 B000200 N
070 A010200 Y
070 A020200 Y
070 B010200 N
070 B020200 N
070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
<PAGE>
070 G010200 N
070 G020200 N
070 H010200 N
070 H020200 N
070 I010200 N
070 I020200 N
070 J010200 N
070 J020200 N
070 K010200 Y
070 K020200 N
070 L010200 N
070 L020200 N
070 M010200 N
070 M020200 N
070 N010200 N
070 N020200 N
070 O010200 N
070 O020200 N
070 P010200 N
070 P020200 N
070 Q010200 N
070 Q020200 N
070 R010200 N
070 R020200 N
071 A000200 0
071 B000200 0
071 C000200 0
071 D000200 0
072 A000200 6
072 B000200 18266
072 C000200 0
072 D000200 0
072 E000200 0
072 F000200 447
072 G000200 186
072 H000200 0
072 I000200 76
072 J000200 37
072 K000200 3
072 L000200 2
072 M000200 3
072 N000200 16
072 O000200 0
072 P000200 0
072 Q000200 32
072 R000200 12
072 S000200 24
072 T000200 834
072 U000200 0
072 V000200 0
072 W000200 12
<PAGE>
072 X000200 1684
072 Y000200 106
072 Z000200 16688
072AA000200 0
072BB000200 0
072CC010200 0
072CC020200 0
072DD010200 14859
072DD020200 1829
072EE000200 0
073 A010200 0.0223
073 A020200 0.0235
073 B000200 0.0000
073 C000200 0.0000
074 A000200 354
074 B000200 351000
074 C000200 390389
074 D000200 0
074 E000200 0
074 F000200 0
074 G000200 0
074 H000200 0
074 I000200 0
074 J000200 0
074 K000200 0
074 L000200 3424
074 M000200 0
074 N000200 745167
074 O000200 0
074 P000200 235
074 Q000200 0
074 R010200 0
074 R020200 0
074 R030200 0
074 R040200 1504
074 S000200 0
074 T000200 743428
074 U010200 668897
074 U020200 74531
074 V010200 1.00
074 V020200 1.00
074 W000200 0.9998
074 X000200 59
074 Y000200 0
075 A000200 744736
075 B000200 0
076 000200 0.00
SIGNATURE BERNADETTE N. FINN
TITLE SECRETARY
INSTITUTIONAL DAILY INCOME FUND
CHANGE IN INDEPENDENT ACCOUNTANTS
On August 13, 1999, McGladrey & Pullen, LLP (McGladrey) resigned as independent
auditors of the Fund pursuant to an agreement by PricewaterhouseCoopers LLP
(PwC) to acquire McGladrey's investment company practice. The McGladrey partners
and professionals serving the Fund at the time of acquisition have joined PwC.
The reports of McGladrey on the financial statements of the Fund during the past
two fiscal years contained no adverse opinion or a disclaimer of opinion, and
were not qualified or modified as to certainty, audit scope or accounting
principles.
In connection with its audits for the two most recent fiscal years and through
August 13, 1999, there were no disagreements with McGladrey on any matter of
accounting principle or practices, financial statement disclosure, or auditing
scope or procedure, which disagreements, if not resolved to the satisfaction of
McGladrey would have caused it to make reference to the subject matter of
disagreement in connection with its report.
Effective August 13, 1999, the Fund, with the approval of its Board of Trustees
and its Audit Committee, engaged PwC as its independent auditors.
<PAGE>
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
We were previously the independent accountant for Institutional Daily Income
Fund. We have read their notification of change in independent accountants
made in Item 77K of Form N-SAR. We agree with the statements in the filing.
Very truly yours,
/s/ McGladrey & Pullen, LLP
McGladrey & Pullen, LLP
New York, New York
November 24, 1999
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND> The schedule contains summary financial information
extracted from the financial statements and supporting
schedules as of the end of the most current period and is
qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000918267
<NAME> Institutional Daily Income Fund
<SERIES>
<NUMBER> 1
<NAME> Money Market Portfolio - Class A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 642015921
<INVESTMENTS-AT-VALUE> 642015921
<RECEIVABLES> 2020832
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 644036753
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1632605
<TOTAL-LIABILITIES> 1632605
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 642404148
<SHARES-COMMON-STOCK> 642404148
<SHARES-COMMON-PRIOR> 503377109
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 642404148
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14104245
<OTHER-INCOME> 0
<EXPENSES-NET> 896203
<NET-INVESTMENT-INCOME> 13208042
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 13208042
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 13208042
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1364185705
<NUMBER-OF-SHARES-REDEEMED> 1237878290
<SHARES-REINVESTED> 12719624
<NET-CHANGE-IN-ASSETS> 139027039
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 327270
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 994819
<AVERAGE-NET-ASSETS> 545449687
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.45
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND> The schedule contains summary financial information
extracted from the financial statements and supporting
schedules as of the end of the most current period and is
qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000918267
<NAME> Institutional Daily Income Fund
<SERIES>
<NUMBER> 2
<NAME> Money Market Portfolio - Class B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 642015921
<INVESTMENTS-AT-VALUE> 642015921
<RECEIVABLES> 2020832
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 644036753
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1632605
<TOTAL-LIABILITIES> 1632605
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 642404148
<SHARES-COMMON-STOCK> 642404148
<SHARES-COMMON-PRIOR> 503377109
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 642404148
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 14104245
<OTHER-INCOME> 0
<EXPENSES-NET> 896203
<NET-INVESTMENT-INCOME> 13208042
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 13208042
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 13208042
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 1364185705
<NUMBER-OF-SHARES-REDEEMED> 1237878290
<SHARES-REINVESTED> 12719624
<NET-CHANGE-IN-ASSETS> 139027039
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 327270
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 994819
<AVERAGE-NET-ASSETS> 545449687
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.03
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.03
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.20
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND> The schedule contains summary financial information
extracted from the financial statements and supporting
schedules as of the end of the most current period and is
qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000918267
<NAME> Institutional Daily Income Fund
<SERIES>
<NUMBER> 3
<NAME> U.S. Treasury Portfolio - Class A
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 741389152
<INVESTMENTS-AT-VALUE> 741389152
<RECEIVABLES> 3423400
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 354350
<TOTAL-ASSETS> 745166902
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1738479
<TOTAL-LIABILITIES> 1738479
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 743428423
<SHARES-COMMON-STOCK> 743428423
<SHARES-COMMON-PRIOR> 800990253
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 743428423
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 18266102
<OTHER-INCOME> 0
<EXPENSES-NET> 1578239
<NET-INVESTMENT-INCOME> 16687863
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 16687863
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16687863
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 742338284
<NUMBER-OF-SHARES-REDEEMED> 816272947
<SHARES-REINVESTED> 16372833
<NET-CHANGE-IN-ASSETS> (57561830)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 446842
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1683697
<AVERAGE-NET-ASSETS> 744736314
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.45
</TABLE>
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND> The schedule contains summary financial information
extracted from the financial statements and supporting
schedules as of the end of the most current period and is
qualified in its entirety by reference to such financial
statements.
</LEGEND>
<CIK> 0000918267
<NAME> Institutional Daily Income Fund
<SERIES>
<NUMBER> 4
<NAME> U.S. Treasury Portfolio - Class B
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> MAR-31-2000
<PERIOD-START> APR-01-1999
<PERIOD-END> SEP-30-1999
<INVESTMENTS-AT-COST> 741389152
<INVESTMENTS-AT-VALUE> 741389152
<RECEIVABLES> 3423400
<ASSETS-OTHER> 0
<OTHER-ITEMS-ASSETS> 354350
<TOTAL-ASSETS> 745166902
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 1738479
<TOTAL-LIABILITIES> 1738479
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 743428423
<SHARES-COMMON-STOCK> 743428423
<SHARES-COMMON-PRIOR> 800990253
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 0
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 0
<NET-ASSETS> 743428423
<DIVIDEND-INCOME> 0
<INTEREST-INCOME> 18266102
<OTHER-INCOME> 0
<EXPENSES-NET> 1578239
<NET-INVESTMENT-INCOME> 16687863
<REALIZED-GAINS-CURRENT> 0
<APPREC-INCREASE-CURRENT> 0
<NET-CHANGE-FROM-OPS> 16687863
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 16687863
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 742338284
<NUMBER-OF-SHARES-REDEEMED> 816272947
<SHARES-REINVESTED> 16372833
<NET-CHANGE-IN-ASSETS> (57561830)
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 446842
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1683697
<AVERAGE-NET-ASSETS> 744736314
<PER-SHARE-NAV-BEGIN> 1.00
<PER-SHARE-NII> 0.02
<PER-SHARE-GAIN-APPREC> 0
<PER-SHARE-DIVIDEND> 0.02
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 1.00
<EXPENSE-RATIO> 0.20
</TABLE>
