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<PAGE> PAGE 19
SIGNATURE JOHN PASCO, III
TITLE ADMINISTRATOR
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
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<PER-SHARE-NAV-END> 16.08 16.11
<EXPENSE-RATIO> 1.87 2.40
[AVG-DEBT-OUTSTANDING] 0 0
[AVG-DEBT-PER-SHARE] 0 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 2
<NAME> MONUMENT TELECOMMUNICATIONS FUND
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> OCT-31-1999 OCT-31-1999
<PERIOD-END> OCT-31-1999 OCT-31-1999
<INVESTMENTS-AT-COST> 502476 502476
<INVESTMENTS-AT-VALUE> 588820 588820
<RECEIVABLES> 104473 104473
<ASSETS-OTHER> 71035 71035
<OTHER-ITEMS-ASSETS> 0 0
<TOTAL-ASSETS> 764328 764328
<PAYABLE-FOR-SECURITIES> 98281 98281
<SENIOR-LONG-TERM-DEBT> 0 0
<OTHER-ITEMS-LIABILITIES> 7842 7842
<TOTAL-LIABILITIES> 106123 106123
<SENIOR-EQUITY> 0 0
<PAID-IN-CAPITAL-COMMON> 465276 4657276
<SHARES-COMMON-STOCK> 29713 3247
<SHARES-COMMON-PRIOR> 19032 0
<ACCUMULATED-NII-CURRENT> (3104) (3104)
<OVERDISTRIBUTION-NII> 0 0
<ACCUMULATED-NET-GAINS> 109688 109688
<OVERDISTRIBUTION-GAINS> 0 0
<ACCUM-APPREC-OR-DEPREC> 86345 86345
<NET-ASSETS> 593347 64858
<DIVIDEND-INCOME> 41 41
<INTEREST-INCOME> 1092 1092
<OTHER-INCOME> 0 0
<EXPENSES-NET> 4825 4825
<NET-INVESTMENT-INCOME> (3692) (3692)
<REALIZED-GAINS-CURRENT> 118345 118345
<APPREC-INCREASE-CURRENT> 81187 81187
<NET-CHANGE-FROM-OPS> 195840 195840
<EQUALIZATION> 0 0
<DISTRIBUTIONS-OF-INCOME> 0 0
<DISTRIBUTIONS-OF-GAINS> 0 0
<DISTRIBUTIONS-OTHER> 0 0
<NUMBER-OF-SHARES-SOLD> 29967 3247
<NUMBER-OF-SHARES-REDEEMED> 17064 0
<SHARES-REINVESTED> 0 0
<NET-CHANGE-IN-ASSETS> 477046 477046
<ACCUMULATED-NII-PRIOR> 0 0
<ACCUMULATED-GAINS-PRIOR> 0 0
<OVERDISTRIB-NII-PRIOR> 0 0
<OVERDIST-NET-GAINS-PRIOR> 0 0
<GROSS-ADVISORY-FEES> 2621 2621
<INTEREST-EXPENSE> 0 0
<GROSS-EXPENSE> 97157 97157
<AVERAGE-NET-ASSETS> 259830 36166
<PER-SHARE-NAV-BEGIN> 10.78 17.65
<PER-SHARE-NII> (.14) (.03)
<PER-SHARE-GAIN-APPREC> 9.33 2.35
<PER-SHARE-DIVIDEND> 0 0
<PER-SHARE-DISTRIBUTIONS> 0 0
<RETURNS-OF-CAPITAL> 0 0
<PER-SHARE-NAV-END> 19.97 19.97
<EXPENSE-RATIO> 1.84 2.40
[AVG-DEBT-OUTSTANDING] 0 0
[AVG-DEBT-PER-SHARE] 0 0
</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<SERIES>
<NUMBER> 3
<NAME> MONUMENT INTERNET FUND
<S> <C> <C>
<PERIOD-TYPE> 12-MOS 12-MOS
<FISCAL-YEAR-END> OCT-31-1999 OCT-31-1999
<PERIOD-END> OCT-31-1999 OCT-31-1999
<INVESTMENTS-AT-COST> 56518599 56518599
<INVESTMENTS-AT-VALUE> 64587540 64587540
<RECEIVABLES> 2178282 2178282
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<OTHER-ITEMS-ASSETS> 0 0
<TOTAL-ASSETS> 66775546 66775546
<PAYABLE-FOR-SECURITIES> 1310289 1310289
<SENIOR-LONG-TERM-DEBT> 0 0
<OTHER-ITEMS-LIABILITIES> 168069 168069
<TOTAL-LIABILITIES> 1478358 1478358
<SENIOR-EQUITY> 0 0
<PAID-IN-CAPITAL-COMMON> 57965640 57965640
<SHARES-COMMON-STOCK> 2126190 51834
<SHARES-COMMON-PRIOR> 0 0
<ACCUMULATED-NII-CURRENT> (697707) (697707)
<OVERDISTRIBUTION-NII> 0 0
<ACCUMULATED-NET-GAINS> (39686) (39686)
<OVERDISTRIBUTION-GAINS> 0 0
<ACCUM-APPREC-OR-DEPREC> 8068941 8068941
<NET-ASSETS> 63744908 1552280
<DIVIDEND-INCOME> 1048 1048
<INTEREST-INCOME> 88526 88526
<OTHER-INCOME> 0 0
<EXPENSES-NET> 787281 787281
<NET-INVESTMENT-INCOME> (697707) (697707)
<REALIZED-GAINS-CURRENT> (39686) (39686)
<APPREC-INCREASE-CURRENT> 8068941 8068941
<NET-CHANGE-FROM-OPS> 7331548 7331548
<EQUALIZATION> 0 0
<DISTRIBUTIONS-OF-INCOME> 0 0
<DISTRIBUTIONS-OF-GAINS> 0 0
<DISTRIBUTIONS-OTHER> 0 0
<NUMBER-OF-SHARES-SOLD> 2793649 51834
<NUMBER-OF-SHARES-REDEEMED> 667459 0
<SHARES-REINVESTED> 0 0
<NET-CHANGE-IN-ASSETS> 65297188 65297188
<ACCUMULATED-NII-PRIOR> 0 0
<ACCUMULATED-GAINS-PRIOR> 0 0
<OVERDISTRIB-NII-PRIOR> 0 0
<OVERDIST-NET-GAINS-PRIOR> 0 0
<GROSS-ADVISORY-FEES> 288039 288039
<INTEREST-EXPENSE> 0 0
<GROSS-EXPENSE> 787281 787281
<AVERAGE-NET-ASSETS> 29773087 611634
<PER-SHARE-NAV-BEGIN> 10.00 27.09
<PER-SHARE-NII> (.33) (.03)
<PER-SHARE-GAIN-APPREC> 20.31 2.88
<PER-SHARE-DIVIDEND> 0 0
<PER-SHARE-DISTRIBUTIONS> 0 0
<RETURNS-OF-CAPITAL> 0 0
<PER-SHARE-NAV-END> 29.98 29.94
<EXPENSE-RATIO> 2.84 3.54
[AVG-DEBT-OUTSTANDING] 0 0
[AVG-DEBT-PER-SHARE] 0 0
</TABLE>
INDEPENDENT AUDITORS' REPORT
To the Board of Directors of
Monument Series Fund, Inc.
In planning and performing our audit of the financial statements of Monument
Series Fund, Inc. (the "Fund") (including the Monument Medical Sciences Fund,
the Monument Telecommunications Fund, and the Monument Internet Fund) for
the year ended October 31, 1999 (on which we have issued our report
December 23, 1999), we considered its internal control, including control
activities for safeguarding securities, in order to determine our auditing
procedures for the purpose of expressing our opinion on the financial
statements.
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 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 any internal control, misstatements due
error 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 or procedures may
deteriorate.
Our consideration of the Fund's 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 one or more of the internal control components does not reduce
to a relatively low level the risk that misstatements 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 Fund's internal control and its
operation, including controls for safeguarding securities, that we consider
to be material weaknesses as defined above as of October 31, 1999.
This report is intended solely for the information and use of management,
the Board of Directors of Monument Series Fund, and the Securities and
Exchange Commission and is not intended to be and should not be used by
anyone other than these specified parties.
Deloitte & Touche LLP
Princeton, New Jersey
December 23, 1999
COMMONWEALTH SHAREHOLDER SERVICES, INC.
1500 FOREST AVENUE, SUITE 223, RICHMOND, VA 23229
(804) 285-8211 FAX (804) - 285-8251
September 2, 1999
Filing Desk
U.S. Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, D.C. 20549
Reference: Monument Series Fund, Inc.
Monument Telecommunications Fund series
File Numbers: 333-26223 and 811-8199
Definitive Proxy Material
------------------------------------------------
Gentlemen:
Transmitted herewith for electronic filing via the EDGAR system on behalf
of Monument Series Fund, Inc., please find enclosed, pursuant to the
requirements of rule 14a-6(b) under the Securities Exchange Act of 1934,
a definitive proxy statement, notice of meeting and form of proxy to be
furnished to shareholders of the above referenced Fund in connection
with a special meeting of shareholders anticipated to be held on
September 30, 1999.
At the special meeting, shareholders will vote to approve or disapprove
a change to the investment strategy of the Monument Washington Aggressive
Growth Fund (the "Fund") and to a corresponding change in the name of
the Fund to the Monument Telecommunications Fund. Shareholders will also
vote on whether to change the investment restrictions to permit
concentration of assets in a single industry.
Proxy statements will first be mailed to shareholders on or after
September 2, 1999. Please direct questions and comments relating to this
filing to Beth-ann Roth at(703) 352-2252.
Sincerely,
/s/ Darryl S. Peay
- --------------
Darryl S. Peay
Vice President
cc: Beth-ann Roth
Enclosure
<PAGE>
BY SIGNING AND DATING THIS CARD, YOU AUTHORIZE DAVID A. KUGLER AND G.
FREDERIC WHITE, III TO VOTE EACH PROPOSAL AS MARKED. IF PROPERLY SIGNED
AND RETURNED BUT NOT MARKED, YOUR PROXY WILL BE VOTED "FOR" PROPOSAL 1,
AND AS THE DESIGNATED PROXIES CHOOSE ON ANY OTHER MATTER THAT PROPERLY
COMES BEFORE THE MEETING. IF YOU DO NOT INTEND TO PERSONALLY ATTEND THE
MEETING, PLEASE COMPLETE AND MAIL THIS CARD AT ONCE IN THE ENCLOSED
ENVELOPE.
COMMONWEALTH SHAREHOLDER SERVICES, INC.
1500 FOREST AVENUE, SUITE 223 * P.O. BOX 8687 * RICHMOND, VA 23229
(804) 285-8211 * (800) 527-9500 * FAX (804) 285-8251
FILED VIA EDGAR
April 19, 1999
Filing Desk
U.S. Securities and Exchange Commission
450 Fifth street, N.W.
Washington, D.C. 20549
Reference: Monument Series fund, Inc.
Monument Washington Regional Growth Fund series
File Numbers: 333-26223 and 811-8199
Definitive Proxy Material
-------------------------
Gentlemen:
Transmitted herewith for electronic filing via the EDGAR system on behalf
of Monument Series Fund, Inc., please find enclosed, pursuant to the
requirements of Rule 14a-6(b) under the Securities Exchange Act of 1934,
is a definitive copy of the proxy statement, notice of meeting and form of
proxy to be furnished to shareholders of the above referenced Fund in
connection with a special meeting of shareholders on April 30, 1999.
The definitive proxy materials will be sent via overnight mail to
shareholders on April 19, 1999.
At the special meeting, shareholders will vote to approve or disapprove a
change to the investment objective of the Monument Washington Regional
Growth Fund (the "Fund") and to a corresponding change in the name of the
Fund to the Monument Medical Sciences Fund.
Please direct questions and comments relating to this filing to
Beth-ann Roth at (202) 261-3338.
Sincerely,
/s/ John Pasco, III
John Pasco, III
Enclosure
<PAGE>
BY SIGNING AND DATING THIS CARD, YOU AUTHORIZE DAVID A. KUGLER AND
G.FREDERIC WHITE, III TO VOTE EACH PROPOSAL AS MARKED. IF PROPERLY SIGNED
AND RETURNED BUT NOT MARKED, YOUR PROXY WILL BE VOTED "FOR" PROPOSAL 1,
AND AS THE DESIGNATED PROXIES CHOOSE ON ANY OTHER MATTER THAT PROPERLY
COMES BEFORE THE MEETING. IF YOU DO NOT INTEND TO PERSONALLY ATTEND THE
MEETING,PLEASE COMPLETE AND MAIL THIS CARD AT ONCE IN THE ENCLOSED ENVELOPE.
