THE MARSICO INVESTMENT FUND
FORM N-SAR
Report for the Period Ending September 30, 2000
Item 77B - Accountant's Report on Internal Control
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 for the year ended
September 30, 2000, 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 Marsico Investment 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 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 controls may become inadequate
because of changes in conditions or that the effectiveness
of their 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, 2000.
This report is intended solely for the information and use
of the Board of Trustees of The Marsico Investment Fund,
management and the Securities and Exchange Commission and is
not intended to be and should not be used by anyone other
than these specified parties.
PricewaterhouseCoopers LLP
Denver, Colorado
November 3, 2000
