Board of Directors and Shareholders
DCM Growth Fund
Newton, Massachusetts
In planning and performing our audit of the financial statements of
DCM Growth Fund for the period October 19, 1999 (commencement of operations)
to September 30, 2000, we considered its internal controls, including
procedures 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 the internal control structure.
The management of DCM Growth Fund is responsible for establishing and
maintaining an internal control structure. 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 unathorized acquisition, use, or
disposition.
Because of inherent limitations in internal control, errors or
irregularities may occur and may 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 any specific internal control component does not reduce to a
relatively low level the risk that errors or irregularities in amounts that
would be material in relation to the financial statements being audited
may occur we noted no matters involving internal control and its operation,
including controls over 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 management
and the Securities and Exchange Commission.
WOLF & COMPANY, P.C.
Boston, Massachusetts
October 26, 2000
