CONSENT OF INDEPENDENT ACCOUNTANTS


     We  consent  to  the  incorporation  by  reference  in  this  Pre-Effective
Amendment No. 1 to Form N-14 Registration  Statement (File No. 333-86947) of the
Kayne  Anderson  Mutuals  Funds,  of our report  dated  February 18, 1999 on our
audits of the financial  statements and financial  highlights of the Sefton U.S.
Government  Fund, the Sefton  California  Tax-Free Fund, the Sefton Equity Value
Fund and the Sefton Small Company Value Fund  (constituting  Sefton Funds Trust)
which report is included in the Annual Report to Shareholders for the year ended
December  31,  1998.  We also  consent to the  references  to our Firm under the
captions "Financial  Highlights" and "Experts" relating to Sefton Funds Trust in
this Pre-Effective Amendment No. 1 to Form N-14 Registration Statement (File No.
333-86947) of the Kayne Anderson Mutual Funds.


                                        PricewaterhouseCoopers LLP

Chicago, Illinois
October 19, 1999