DECHERT, PRICE & RHOADS
1775 Eye Street, N.W.
Washington, D.C. 20006
April 28, 1998
VIA EDGAR
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
RE: FBR Family of Funds
File Nos. 333-05675/811-07665
Ladies and Gentlemen:
Pursuant to Rule 497(j) under the Securities Act of 1933, as amended,
please accept this letter as certification that the Prospectus and Statement of
Additional Information for the FBR Family of Funds (the "Registrant") do not
differ from those contained in Post-Effective Amendment No. 3 (the "Amendment")
to the Registration Statement on Form N-1A of the Registrant. The Amendment was
filed electronically on April 17, 1998 and became effective on April 18, 1998.
Any comments should be directed to me at (202) 261-3409 or Neil Patel
at (202) 261-3393.
Very truly yours,
/s/ William J. Kotapish
Enclosures
cc: C. Eric Brugel
Frank J. Maresca
Paul F. Roye