<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0101</schemaVersion>

    <submissionType>EFFECT</submissionType>

    <act>33</act>

    <testOrLive>LIVE</testOrLive>

    <effectiveData>
        <finalEffectivenessDispDate>2006-08-23</finalEffectivenessDispDate>
        <accessionNumber>0000910472-06-000214</accessionNumber>
        <submissionType>485APOS</submissionType>
        <filer>
            <cik>0000926898</cik>
            <entityName>MILESTONE FUNDS</entityName>
            <fileNumber>033-81574</fileNumber>
            <seriesClassContractData>
                <existing>
                    <seriesId>S000003014</seriesId>
                    <seriesName>Milestone Treasury Obligations Portfolio</seriesName>
                    <classContractId>C000035617</classContractId>
                    <classContractName>Administrative Shares</classContractName>
                </existing>
            </seriesClassContractData>
        </filer>
    </effectiveData>
</edgarSubmission>
