Exhibit 14




               CONSENT OF ERNST & YOUNG LLP, INDEPENDENT AUDITORS


We consent to the reference to our firm under the captions "Experts" and
"Financial Highlights" in the Registration Statement under the Securities Act of
1933 (Form N-14) and related Prospectus and Statement of
Additional Information of Nicholas-Applegate Institutional Funds and to the
incorporation by reference therein of our report dated May 1, 2002 (except Note
F, as to which the date is May 17, 2002), with respect to the financial
statements and financial highlights included in its Annual Report for the year
ended March 31, 2002, filed with the Securities and Exchange Commission.




Los Angeles, California
November 7, 2002