The Board of Trustees and Shareholders,
Amerindo Funds Inc.:
In planning and performing our audits of the financial statements of
the Amerindo Funds (the "Funds"), including the Amerindo Technology
Fund for the year ended October 31, 2000, the Amerindo Internet B2B
Fund and the Amerindo Health and Biotechnology Fund for the period
ended October 31, 2000 (on which we have issued our report dated
December 15, 2000), we considered its internal controls, including
control activities for safeguarding securities, in order to determine
our auditing procedures for the purpose of expressing our opinion on
the financial statements and to comply with the requirements of Form
N-SAR, and not to provide assurance on the Funds' internal control.
The management of the Funds 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 for external purposes that are fairly presented in conformity
with accounting principles generally accepted in the United States of
America. Those controls include the safeguarding of assets against
unauthorized acquisition, use, or disposition.
Because of inherent limitations in any internal control, misstatements
due to errors or fraud may occur and not be detected. Also, projections
of any evaluation of internal control to future periods are subject to the
risk that the internal control may become inadequate because of changes
in conditions, or that the degree of compliance with policies and procedures
may deteriorate.
Our consideration of the Funds' internal control would not necessarily
disclose all matters in the 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 one or more of the internal control
components does not reduce to a relatively low level the risk that
misstatements caused by error or fraud in amounts that would be
material in relation to the financial statements 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 the Funds' internal controls and its
operations, including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of
October 31, 2000.
This report is intended solely for the information and use of management,
the Board of Trustees and Shareholders of the Amerindo Funds Inc., and
the Securities and Exchange Commission and is not intended to be and
should not be used by anyone other than these specified parties.
December 15, 2000
