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SIGNATURE CHARLES S. CRUICE
TITLE PRESIDENT
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<ARTICLE> 6
<CIK> 0001019651
<NAME> ROCKLAND GROWTH FUND - RETAIL
<S> <C>
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<APPREC-INCREASE-CURRENT> (3,717)
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</TABLE>
The Rockland Funds Trust
Form N-SAR Report for the Period Ended 3/31/97
Item 77-I
The Rockland Funds Trust (the "Trust") was organized as a
Delaware business
trust on July 31, 1996. The Trust consists of one series, The
Rockland Growth Fund
(the "Fund"). The Fund commenced operations on December 2, 1996.
The following
describes the rights of the shares of the Trust.
The Trust was formed under the laws of Delaware on July 31,
1996. The
Board of Trustees is authorized to issue an unlimited number of
shares of beneficial
interest in separate series, $.0001 par value per share, and to
create classes of shares
of beneficial interest within each series. The Trust is
registered with the Securities
and Exchange Commission as an open-end diversified management
company.
Each class of shares of the Trust represent interests in the
assets of the Fund
and have identical voting, dividend, liquidation and other
rights on the same terms and conditions, except that the
distribution fees related to the Retail class shares are borne
solely by that class. Fractional shares have the same rights
proportionately as full shares.
Shares of beneficial interest issued are fully paid and
nonassessable and have no
preemptive or conversion rights.
The shares of beneficial interest do not have cumulative voting
rights. Therefore,
the holders of more than 50 percent of the shares voting for the
election of Trustees can
elect all the Trustees of the Trust.
If the holders of a majority of the outstanding shares of the
Trust shall vote at
any time to wind up and liquidate the Trust, no further shares
of the Trust shall be issued,
sold or purchased by the Trust, and the Trustees shall
immediately proceed to wind up the
Trust's affairs, liquidate the assets, pay all liabilities and
expenses of the Trust, and
distribute the remaining assets, if any, among the shareholders
in proportion to their
holding of shares of beneficial interest. The Board of Trustees
shall also do any other
acts necessary to secure and complete the dissolution of the
Trust.
The Rockland Funds Trust
Form N-SAR Report for the Period Ended 3/31/97
The following are incorporated by reference:
Item 77-Q1(a) Bylaws - Pre-Effective Amendment No.1, Part C,
Item 24(b), Exhibit 2
Item 77-Q1(e) Advisory Agreement - Pre-Effective Amendment No.
1, Part C, Item 24(b), Exhibit 5
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<NAME> ROCKLAND GROWTH FUND - INSTITUTIONAL
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<OVERDISTRIBUTION-NII> 0
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<OVERDISTRIBUTION-GAINS> 0
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<EXPENSES-NET> 24,252
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<REALIZED-GAINS-CURRENT> (313,278)
<APPREC-INCREASE-CURRENT> (367,769)
<NET-CHANGE-FROM-OPS> (690,126)
<EQUALIZATION> 0
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<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
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<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (0.02)
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</TABLE>
