Ex-23.1

 
                        CONSENT OF INDEPENDENT AUDITORS
                                        


We consent to the incorporation by reference of our reports for The Brinson
Funds (comprised of Global Fund, Global Equity Fund, Global Bond Fund, U.S.
Balanced Fund, U.S. Equity Fund, U.S. Large Capitalization Equity Fund, U.S.
Bond Fund and Non-U.S. Equity Fund) dated August 7, 1998, in the Registration
Statement (Form N-14) and related Proxy Statement and Prospectus, filed with the
Securities and Exchange Commission under the Securities Act of 1933
(Registration No. 33-47287).



                                         ERNST & YOUNG LLP



Chicago, Illinois
September 18, 1998

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