D'Ancona & Pflaum LLC
111 East Wacker Drive
Suite 2800
Chicago, Illinois 60601
Board of Trustees
The Kenwood Funds
10 South LaSalle Street, Suite 3610
Chicago, Illinois 60603
August 30, 2000
Re: The Kenwood Funds
Dear Ladies and Gentlemen:
We have acted as counsel to The Kenwood Funds, a Delaware business
trust (the "Trust"), in connection with the registration under the Securities
Act of 1933 (the "Act") of an indefinite number of shares of beneficial interest
of the series of the Trust designated Kenwood Growth & Income (the "Shares") in
registration statement number 333-1171 on Form N-1A (the "Registration
Statement").
In this regard, we have examined originals or copies certified or
otherwise identified to our satisfaction, of such documents, and other records,
certificates and other papers as we deemed it necessary to examine for the
purpose of this opinion, including the agreement and declaration of trust (the
"Trust Agreement") and bylaws of the Trust, actions of the board of trustees of
the Trust authorizing the issuance of Shares of the Trust and the Registration
Statement.
Based upon the foregoing examination, we are of the opinion that upon
the issuance and delivery of the shares of the Trust in accordance with the
Trust Agreement and the actions of the board of trustees authorizing the
issuance of the Shares, and the receipt by the Trust of the authorized
consideration therefor, the Shares so issued will be validly issued, fully paid
and nonassessable.
We consent to the use of this opinion as an exhibit to the Registration
Statement. In giving this consent, we do not admit that we are in the category
of persons whose consent is required under section 7 of the Act.
Very truly yours,
D'ANCONA & PFLAUM, LLC
By: /S/ SHELDON R. STEIN
Sheldon R. Stein, a Member
SS:sls
