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<PAGE> PAGE 9
SIGNATURE BARBARA L. BOWLES
TITLE PRESIDENT
<TABLE> <S> <C>
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<CIK> 0001006416
<NAME> THE KENWOOD FUNDS
<MULTIPLIER> 1
<S> <C>
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<PERIOD-START> MAY-01-1997
<PERIOD-END> APR-30-1998
<INVESTMENTS-AT-COST> 2,937,133
<INVESTMENTS-AT-VALUE> 3,316,333
<RECEIVABLES> 89,616
<ASSETS-OTHER> 6,262
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 3,412,211
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<SENIOR-EQUITY> 0
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THE KENWOOD FUNDS -
KENWOOD GROWTH & INCOME FUND
REPORT ON INTERNAL CONTROLS FOR INCLUSION
AS AN ATTACHMENT TO FORM N-SAR
DATED MAY 15, 1998
Report of Independent Accountants
To the Board of Trustees of
The Kenwood Funds
- Kenwood Growth and Income Fund
In planning and performing our audit of the financial statements
and financial highlights of The Kenwood Funds - Kenwood Growth
and Income Fund (the "Fund") for the year ended April 30, 1998,
we considered its internal control, including control over
safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the
financial statements and financial highlights and to comply with
the requirements of Form N-SAR, not to provide assurance on
internal control.
The management of the Fund is responsible for establishing and
maintaining internal control. In fulfilling this
responsibility, estimates and judgments by management are
required to assess the expected benefits and related costs of
controls. Generally, controls that are relevant to an audit
pertain to the entity's objective of preparing financial
statements and financial highlights for external purposes that
are fairly presented in conformity with generally accepted
accounting principles. Those controls include the safeguarding
of assets against unauthorized acquisition, use or disposition.
Because of inherent limitations in internal controls,
misstatements due to errors or fraud may occur and may not be
detected. Also, projection of any evaluation of internal
control to future periods is subject to the risk that it may
become inadequate because of changes in conditions or that the
effectiveness of the design and operation may deteriorate.
Our consideration of internal control would not necessarily
disclose all matters in internal control that might be material
weaknesses under standards established by the American Institute
of Certified Public Accountants. A material weakness is a
condition in which the design or operation of any specific
internal control component does not reduce to a relatively low
level the risk that misstatements due to errors or fraud in
amounts that would be material in relation to the financial
statements and financial highlights being audited may occur and
not be detected within a timely period by employees in the
normal course of performing their assigned functions. However,
we noted no matters involving internal control, including
controls over safeguarding securities, that we consider to be
material weaknesses as defined above as of April 30, 1998.
This report is intended solely for the information and use of
management of the Fund and the Securities and Exchange
Commission.
Coopers & Lybrand L.L.P.
Milwaukee, Wisconsin
May 15, 1998<PAGE>
