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<PAGE> PAGE 2
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SIGNATURE JIM ZAWADA
TITLE FINANCIAL ANALYST
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<SHARES-COMMON-PRIOR> 5,000
<ACCUMULATED-NII-CURRENT> 0
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (15,086,868)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (3,197,938)
<NET-ASSETS> 263,519,207
<DIVIDEND-INCOME> 598,844
<INTEREST-INCOME> 650,283
<OTHER-INCOME> 0
<EXPENSES-NET> (1,367,389)
<NET-INVESTMENT-INCOME> (118,262)
<REALIZED-GAINS-CURRENT> (15,089,979)
<APPREC-INCREASE-CURRENT> (3,197,938)
<NET-CHANGE-FROM-OPS> (18,406,179)
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 29,846,080
<NUMBER-OF-SHARES-REDEEMED> 7,018,201
<SHARES-REINVESTED> 0
<NET-CHANGE-IN-ASSETS> 263,469,207
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 0
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 774,854
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,622,503
<AVERAGE-NET-ASSETS> 118,455,593
<PER-SHARE-NAV-BEGIN> 10.00
<PER-SHARE-NII> (.01)
<PER-SHARE-GAIN-APPREC> 1.55
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 11.54
<EXPENSE-RATIO> 1.51
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
THE MARSICO INVESTMENT FUND
FORM NSAR
Report for the Period Ending September 30, 1998
Item 77J Revaluation of Assets or Restatement of
Capital Share Accounts
In accordance with the provisions of Statement of
Position 93-2, Determination, Disclosure and
Financial Statement Presentation of Income, Capital
Gain and Return of Capital Distributions by Investment
Companies, the Funds are required to report the
accumulated net investment income (loss) and
accumulated net capital gain (loss) accounts to
approximate amounts available for future distributions
on a tax basis (or to offset future realized capital gains).
Accordingly, reclassifications were recorded to
decrease net investment loss $813,918 and $118,262,
decrease accumulated net realized loss on investments
by $23,770 and $3,111 and decreased pain-in-capital
by $837,688 and $121,373 in the Focus and Growth &
Income Funds, respectively.
These reclassifications have no impact on the net asset
values of the Funds and are designed to present the
Funds capital accounts on a tax basis.
To the Board of Trustees and Shareholders of
The Marsico Investment Fund
In planning and performing our audits of the financial
statements of The Marsico Investment Fund (the Trust)
for the period ended September 30, 1998, 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 and to comply with the requirements of
Form N-SAR, not to provide assurance on internal control.
The management of the Trust 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 entitys 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 internal control, errors or
fraud may occur and not be detected. Also, projection of
any evaluation of internal control to future periods is
subject to the risk that it may become inadequate because of
changes in conditions or that the effectiveness of the design
and operation may deteriorate.
Our consideration of 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 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 internal control and its operation,
including controls for safeguarding securities, that we
consider to be material weaknesses as defined above as of
September 30, 1998.
This report is intended solely for the information and use of
management and the Board of Trustees of the Trust and the
Securities and Exchange Commission.
PricewaterhouseCoopers LLP
Denver, Colorado
November 2, 1998
