Independent Auditors' Consent




To the Shareholders and Board of Trustees of the
Cash Assets Trust:

We consent to the incorporation by reference, in this Statement of Additional
Information, of our report dated May 15, 2002, on the statement of assets and
liabilities for the The Pacific Capital Funds of Cash Assets Trust (the "Trust")
as of March 31, 2002, and the related statement of operations for the year then
ended, the statements of changes in net assets for each of the years in the
two-year period then ended and the financial highlights for each of the years in
the five-year period then ended. These financial statements and financial
highlights and our report thereon are included in the Annual Report of the Trust
as filed on Form N-30D.

We also consent to the references to our firm under the headings "Independent
Auditors"and "Financial Highlights" in the Prospectuses and "Transfer Agent,
Custodian and Auditors" in the Statement of Additional Information.



                                                 KPMG LLP



New York, New York
July 19, 2002