BISHOP STREET FUNDS
NSAR-A, 1998-08-28
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<PAGE>      PAGE  1
000 A000000 06/30/98
000 C000000 0000925737
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 U
001 A000000 BISHOP STREET FUNDS
001 B000000 811-8572
001 C000000 6102541000
002 A000000 2 OLIVER STREET
002 B000000 BOSTON
002 C000000 MA
002 D010000 02109
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  5
007 C010100  1
007 C020100 MONEY MARKET FUND
007 C030100 N
007 C010200  2
007 C020200 HAWAII MUNICIPAL BOND FUND
007 C030200 N
007 C010300  3
007 C020300 TREASURY MONEY MARKET FUND
007 C030300 N
007 C010400  4
007 C020400 HIGH GRADE INCOME FUND
007 C030400 N
007 C010500  5
007 C020500 EQUITY FUND
007 C030500 N
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
010 A00AA01 SEI INVESTMENTS MUTUAL FUNDS SERVICES
010 C01AA01 WAYNE
010 C02AA01 PA
010 C03AA01 19087
011 A00AA01 SEI INVESTMENTS DISTRIBUTION COMPANY
011 B00AA01 8-0000
011 C01AA01 OAKS
011 C02AA01 PA
011 C03AA01 19456
<PAGE>      PAGE  2
011 C04AA01 1658
012 A00AA01 DST SYSTEMS INC.
012 B00AA01 84-0000
012 C01AA01 KANSAS CITY
012 C02AA01 MO
012 C03AA01 64141
013 A00AA01 PRICEWATERHOUSECOOPERS LLP
013 B01AA01 PHILADELPHIA
013 B02AA01 PA
013 B03AA01 19103
020 A000001 DEAN WITTER
020 C000001      2
020 A000002 DLJ - FIXED
020 C000002      4
020 A000003 DLJ
020 C000003      5
020 A000004 PERSHING
020 C000004      7
020 A000005 SMITH BARNEY
020 C000005      2
020 A000006 SMITH BARNEY
020 C000006      3
020 A000007 STANDARD & POORS
020 C000007      1
020 C000008      0
020 C000009      0
020 C000010      0
021  000000       24
022 A000001 JP MORGAN
022 B000001 13-3224016
022 C000001   3992778
022 D000001    183182
022 A000002 LEHMAN BROTHERS
022 B000002 13-2927667
022 C000002   2601169
022 D000002    783852
022 A000003 MORGAN STANLEY
022 B000003 13-2655998
022 C000003    424864
022 D000003    337884
022 A000004 GOLDMAN SACHS
022 B000004 13-5108880
022 C000004    381128
022 D000004    226571
022 A000005 CS FIRST BOSTON
022 B000005 13-5659485
022 C000005    262484
022 D000005    220000
022 A000006 UBS SECURITIES
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022 C000006     95000
<PAGE>      PAGE  3
022 D000006    169000
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022 C000008     57128
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022 D000009      7427
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022 C000010    100000
022 D000010     80000
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023 D000000    2178433
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025 A000103 BEAR STEARNS
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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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070 C010200 N
070 C020200 N
070 D010200 N
070 D020200 N
070 E010200 N
070 E020200 N
070 F010200 N
070 F020200 N
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070 G020200 N
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070 H020200 N
070 I010200 N
070 I020200 N
<PAGE>      PAGE  8
070 J010200 Y
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070 L020200 N
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070 M020200 N
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<PAGE>      PAGE  9
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025 D000301   70000
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025 C000302 D
025 D000302   60000
025 A000303 LEHMAN
025 C000303 D
025 D000303   65000
025 A000304 MORGAN STANLEY, DEAN WITTER DISCOVER
<PAGE>      PAGE  10
025 C000304 D
025 D000304   50000
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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SIGNATURE   BOB DELLACROCE                               
TITLE       CONTROLLER          
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000925737
<NAME> BISHOP STREET
<SERIES>
   <NUMBER> 010
   <NAME> MONEY MARKET FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
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<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           230760
<INVESTMENTS-AT-VALUE>                          230760
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<PAID-IN-CAPITAL-COMMON>                        230156
<SHARES-COMMON-STOCK>                           230156
<SHARES-COMMON-PRIOR>                           246701
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<OVERDISTRIBUTION-NII>                               0
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<OVERDISTRIBUTION-GAINS>                           (7)
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    230153
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 6898
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (595)
<NET-INVESTMENT-INCOME>                           6303
<REALIZED-GAINS-CURRENT>                            27
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                             6330
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (6304)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         353319
<NUMBER-OF-SHARES-REDEEMED>                   (369967)
<SHARES-REINVESTED>                                103
<NET-CHANGE-IN-ASSETS>                         (16545)
<ACCUMULATED-NII-PRIOR>                              4
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                        (34)
<GROSS-ADVISORY-FEES>                              362
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                   1041
<AVERAGE-NET-ASSETS>                            242989
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                              0
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .49
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000925737
<NAME> BISHOP STREET
<SERIES>
   <NUMBER> 020
   <NAME> HAWAII MUNICIPAL BOND FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                            28747
<INVESTMENTS-AT-VALUE>                           29987
<RECEIVABLES>                                      710
<ASSETS-OTHER>                                      15
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   30712
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          184
<TOTAL-LIABILITIES>                                184
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         29301
<SHARES-COMMON-STOCK>                             2863
<SHARES-COMMON-PRIOR>                             2717
<ACCUMULATED-NII-CURRENT>                           28
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                          (40)
<ACCUM-APPREC-OR-DEPREC>                          1239
<NET-ASSETS>                                     30528
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  773
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                    (60)
<NET-INVESTMENT-INCOME>                            713
<REALIZED-GAINS-CURRENT>                            21
<APPREC-INCREASE-CURRENT>                         (56)
<NET-CHANGE-FROM-OPS>                              678
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (713)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                           4254
<NUMBER-OF-SHARES-REDEEMED>                     (3044)
<SHARES-REINVESTED>                                348
<NET-CHANGE-IN-ASSETS>                            1558
<ACCUMULATED-NII-PRIOR>                             28
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                        (61)
<GROSS-ADVISORY-FEES>                               52
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    148
<AVERAGE-NET-ASSETS>                             29798
<PER-SHARE-NAV-BEGIN>                            10.67
<PER-SHARE-NII>                                    .26
<PER-SHARE-GAIN-APPREC>                          (.01)
<PER-SHARE-DIVIDEND>                             (.26)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.66
<EXPENSE-RATIO>                                    .40
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000925737
<NAME> BISHOP STREET
<SERIES>
   <NUMBER> 030
   <NAME> TREASURY MONEY MARKET FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                           394251
<INVESTMENTS-AT-VALUE>                          394251
<RECEIVABLES>                                     1015
<ASSETS-OTHER>                                     151
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                  395417
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                         1894
<TOTAL-LIABILITIES>                               1894
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                        393552
<SHARES-COMMON-STOCK>                           393552
<SHARES-COMMON-PRIOR>                           273944
<ACCUMULATED-NII-CURRENT>                           10
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                              0
<OVERDISTRIBUTION-GAINS>                          (39)
<ACCUM-APPREC-OR-DEPREC>                             0
<NET-ASSETS>                                    393523
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                 8417
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (671)
<NET-INVESTMENT-INCOME>                           7746
<REALIZED-GAINS-CURRENT>                           (1)
<APPREC-INCREASE-CURRENT>                            0
<NET-CHANGE-FROM-OPS>                             7745
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                       (7748)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                         924454
<NUMBER-OF-SHARES-REDEEMED>                   (804846)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                          119608
<ACCUMULATED-NII-PRIOR>                             12
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                        (37)
<GROSS-ADVISORY-FEES>                              453
<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                            304836
<PER-SHARE-NAV-BEGIN>                             1.00
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                              0
<PER-SHARE-DIVIDEND>                             (.03)
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<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                               1.00
<EXPENSE-RATIO>                                    .44
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000925737
<NAME> BISHOP STREET
<SERIES>
   <NUMBER> 040
   <NAME> HIGH GRADE INCOME FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                            24504
<INVESTMENTS-AT-VALUE>                           25173
<RECEIVABLES>                                      500
<ASSETS-OTHER>                                      27
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<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         24718
<SHARES-COMMON-STOCK>                             2473
<SHARES-COMMON-PRIOR>                             2566
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            167
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           669
<NET-ASSETS>                                     25554
<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                                  797
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (103)
<NET-INVESTMENT-INCOME>                            693
<REALIZED-GAINS-CURRENT>                           133
<APPREC-INCREASE-CURRENT>                          129
<NET-CHANGE-FROM-OPS>                              955
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (693)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            543
<NUMBER-OF-SHARES-REDEEMED>                     (2182)
<SHARES-REINVESTED>                                689
<NET-CHANGE-IN-ASSETS>                             955
<ACCUMULATED-NII-PRIOR>                             34
<ACCUMULATED-GAINS-PRIOR>                          540
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               70
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    159
<AVERAGE-NET-ASSETS>                             26089
<PER-SHARE-NAV-BEGIN>                            10.23
<PER-SHARE-NII>                                    .27
<PER-SHARE-GAIN-APPREC>                            .10
<PER-SHARE-DIVIDEND>                             (.27)
<PER-SHARE-DISTRIBUTIONS>                            0
<RETURNS-OF-CAPITAL>                                 0
<PER-SHARE-NAV-END>                              10.33
<EXPENSE-RATIO>                                    .80
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000925737
<NAME> BISHOP STREET
<SERIES>
   <NUMBER> 050
   <NAME> EQUITY FUND
<MULTIPLIER> 1,000
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-1998
<PERIOD-START>                             JAN-01-1998
<PERIOD-END>                               JUN-30-1998
<INVESTMENTS-AT-COST>                            61149
<INVESTMENTS-AT-VALUE>                           83036
<RECEIVABLES>                                      172
<ASSETS-OTHER>                                      50
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                   83258
<PAYABLE-FOR-SECURITIES>                             0
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                          281
<TOTAL-LIABILITIES>                                281
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                         58998
<SHARES-COMMON-STOCK>                             5855
<SHARES-COMMON-PRIOR>                             5801
<ACCUMULATED-NII-CURRENT>                            0
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                           2092
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                         21887
<NET-ASSETS>                                     82977
<DIVIDEND-INCOME>                                  448
<INTEREST-INCOME>                                  108
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                   (395)
<NET-INVESTMENT-INCOME>                            161
<REALIZED-GAINS-CURRENT>                           275
<APPREC-INCREASE-CURRENT>                         9945
<NET-CHANGE-FROM-OPS>                            12381
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                        (161)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                            840
<NUMBER-OF-SHARES-REDEEMED>                      (211)
<SHARES-REINVESTED>                                160
<NET-CHANGE-IN-ASSETS>                             789
<ACCUMULATED-NII-PRIOR>                              0
<ACCUMULATED-GAINS-PRIOR>                            0
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                       (184)
<GROSS-ADVISORY-FEES>                              283
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                    556
<AVERAGE-NET-ASSETS>                             77025
<PER-SHARE-NAV-BEGIN>                            12.08
<PER-SHARE-NII>                                    .03
<PER-SHARE-GAIN-APPREC>                           2.11
<PER-SHARE-DIVIDEND>                             (.03)
<PER-SHARE-DISTRIBUTIONS>                            0
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<PER-SHARE-NAV-END>                              14.17
<EXPENSE-RATIO>                                   1.04
<AVG-DEBT-OUTSTANDING>                               0
<AVG-DEBT-PER-SHARE>                                 0
        

</TABLE>


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