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<PAGE> PAGE 2
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<PAGE> PAGE 3
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022 C000007 1169
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022 A000008 BT ALEX BROWN
022 C000008 3616
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022 A000009 ADAMS HARKNESS & HILL INC.
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<PAGE> PAGE 4
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<PAGE> PAGE 5
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<PAGE> PAGE 6
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<PAGE> PAGE 7
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SIGNATURE TRACY RICHTER
TITLE VP FUND ADMIN.
<TABLE> <S> <C>
<PAGE>
<ARTICLE> 6
<MULTIPLIER> 1,000
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> DEC-31-1999
<PERIOD-START> JAN-01-1999
<PERIOD-END> JUN-30-1999
<INVESTMENTS-AT-COST> 85773
<INVESTMENTS-AT-VALUE> 117798
<RECEIVABLES> 498
<ASSETS-OTHER> 5602
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<TOTAL-ASSETS> 123898
<PAYABLE-FOR-SECURITIES> 2485
<SENIOR-LONG-TERM-DEBT> 0
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<TOTAL-LIABILITIES> 2706
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 93509
<SHARES-COMMON-STOCK> 9802054
<SHARES-COMMON-PRIOR> 9802054
<ACCUMULATED-NII-CURRENT> (477)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (3864)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 32025
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<DIVIDEND-INCOME> 169
<INTEREST-INCOME> 101
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</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MORGAN GRENFELL SMALLCAP FUND
PROCEDURES PURSUANT TO RULE 10f-3
SECURITIES PURCHASED COMPARABLE SECURITY #1 COMPARABLE SECURITY #2
<S> <C> <C> <C>
(1) NAMES OF UNDERWRITERS GOLDMAN SACHS, WILLIAM BLAIR, ABN MORGAN KEEGAN,
DONALDSON LUFKIN & AMRO, US BANCORP INTERSTATE/JOHNSON
JENRETTE, HAMBRECHT PIPER JAFFRAY, LANE, ADVEST, ROBERT
& QUIST, DLJDIRECT, BANCAMERICA, BAIRD, JC BRADFORD,
E*TRADE, DEUTSCHE BANCBOSTON ROBERTSON BREAN MURRAY,
BANK SECS., STEPHENS, BEAR CROWELL WEEDON,
BANCBOSTON ROBERTSON STEARNS, BT ALEX EQUITABLE
STEPHENS, AG BROWN, CREDIT SUISSE SECURITIES, GERARD
EDWARDS, MERRILL FIRST BOSTON, KLAUER MATTISON,
LYNCH, WASSERTEIN DONALDSON LUFKIN & J.J.B. HILLIARD,
PERELLA, ADVEST, JENRETTE, HAMBRECHT MCDONALD & CO.,
ROBERT BAIRD, DAIN & QUIST, MERRILL EDGAR NORRIS, THE
RAUSCHER WESSELS, LYNCH, MORGAN OHIO CO., PIPER
LEGG MASON WOOD STANLEY, JAFFRAY,
WALKER, U.S. BANCORP PAINEWEBBER, ROBINSON-HUMPHREY,
PIPER JAFFRAY, PRUDENTIAL, WARBURG STEPHENS, STERNE,
CHARLES SCHWAB DILLON READ, ADVEST, AGEE & LEACH, TUCKER
DAIN RAUSCHER ANTHONY
WESSELS, EVEREN
SECS., FERRIS BAKER
WATTS, JEFFERIES,
LEGG MASON WOOD
WALKER, MCDONALD
INVEST., MESIROW,
RAYMOND JAMES,
SOUTHEAST, SUTRO
(2) NAMES OF ISSUER E-LOAN, INC. PRISM FINANCIAL CORPORATION NET.BANK, INC.
(3) TITLE OF SECURITY E-LOAN, INC. PRISM FINANCIAL CORPORATION NET.BANK, INC.
COMMON STOCK COMMON STOCK COMMON STOCK
(4) DATE OF FIRST OFFERING JUNE 29, 1999 MAY 25, 1999 JULY 28, 1997
(5) AMOUNT OF TOTAL OFFERING 3,500,000 SHARES 2,500,000 SHARES 3,500,000 SHARES
(6) TOTAL VALUE OF OFFERING $49,000,000 $35,000,000 $42,000,000
(7) UNIT PRICE $14.00 $14.00 $12.00
(8) UNDERWRITING DISCOUNT $0.98 (7%) $0.98 (7%) $0.84 (7%)
(9) DOLLAR AMOUNT PURCHASED $1,400 NA NA
(10) NUMBER OF SHARES PURCHASED 100 NA NA
(11) YEARS OF CONTINUOUS OPERATION THE COMPANY HAS BEEN IN CONTINUOUS NA NA
OPERATION FOR AT LEAST THREE YEARS
(12) % OF OFFERING PURCHASED BY FUND 0.0028 NA NA
(13) % OF OFFERING PURCHASED BY NA NA NA
ASSOCIATED INVESTMENT
COMPANIES
(14) % OF OFFERING PURCHASED BY FUND 0.0028 NA NA
AND ASSOCIATED FUNDS (LIMITED TO
25% OF THE OFFERING)
(15) NAME(S) OF UNDERWRITER(S) OR GOLDMAN SACHS, DONALDSON LUFKIN & NA NA
DEALER(S) FROM WHOM PURCHASED JENRETTE, HAMBRECHT & QUIST
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MORGAN GRENFELL SMALLCAP FUND
PROCEDURES PURSUANT TO RULE 10f-3
SECURITIES PURCHASED COMPARABLE SECURITY #1 COMPARABLE SECURITY #2
<S> <C> <C> <C>
(1) NAMES OF UNDERWRITERS BT ALEX BROWN, CREDIT SUISSE FIRST MORGAN STANLEY DEAN
BANCBOSTON ROBERTSON BOSTON, DAIN WITTER, HAMBRECHT &
STEPHENS, US BANCORP RAUSCHER WESSELS, QUIST, DAIN RAUSCHER
PIPER JAFFRAY, NATIONSBANC WESSELS, BANCBOSTON
DEUTSCHE BANK MONTGOMERY, ROBERTSON STEPHENS,
SECURITIES, HAMBRECHT & QUIST, BT ALEX. BROWN,
HAMBRECHT & QUIST, INVEMED ASSOCIATES, EDWARD D. JONES,
FURMAN SELZ, MORGAN NEEDHAM & CO., KAUFMAN BROS.,
STANLEY, NATIONSBANC CHARLES SCHWAB, NATIONSBANC
MONTGOMERY, WARBURG TUCKER ANTHONY, C.E. MONTGOMERY, RAYMOND
DILLON READ, ADVEST, UNTERBERG, WEDBUSH JAMES,
DAIN RAUSCHER MORGAN SECURITIES ROBINSON-HUMPHREY,
WESSELS, DOMINICK & SOUNDVIEW, C.E.
DOMINICK, UNTERBERG, WARBURG
FAC/EQUITIES, DILLON READ
FRIEDMAN BILLINGS
RAMSEY, JEFFRIES,
DAVID A NOYES & CO.,
BRAD PEERY, PENN.
MERCHANT GROUP,
MURIEL SIEBERT,
SOUNDVIEW, WIT
CAPITAL
(2) NAMES OF ISSUER NETOBJECTS INC. ALLAIRE CORPORATION VIGNETTE CORPORATION
(3) TITLE OF SECURITY NETOBJECTS INC. ALLAIRE CORPORATION VIGNETTE CORPORATION
COMMON STOCK COMMON STOCK COMMON STOCK
(4) DATE OF FIRST OFFERING MAY 7, 1999 JANUARY 22, 1999 DECEMBER 3, 1998
(5) AMOUNT OF TOTAL OFFERING 6,000,000 SHARES 2,500,000 SHARES 4,000,000 SHARES
(6) TOTAL VALUE OF OFFERING $72,000,000 $46,500,000 $76,000,000
(7) UNIT PRICE $12.00 $20.00 $19.00
(8) UNDERWRITING DISCOUNT $0.84 (7%) $1.40 (7%) $1.33 (7%)
(9) DOLLAR AMOUNT PURCHASED $538,000 NA NA
(10) NUMBER OF SHARES PURCHASED 44,900 NA NA
(11) YEARS OF CONTINUOUS OPERATION THE COMPANY HAS BEEN IN CONTINUOUS NA NA
OPERATION FOR AT LEAST THREE YEARS
(12) % OF OFFERING PURCHASED BY FUND .7483% NA NA
(13) % OF OFFERING PURCHASED BY .0416% NA NA
ASSOCIATED INVESTMENT
COMPANIES
(14) % OF OFFERING PURCHASED BY FUND .7899% NA NA
AND ASSOCIATED FUNDS (LIMITED
TO 25% OF THE OFFERING)
(15) NAME(S) OF UNDERWRITER(S) OR BT ALEX BROWN, BANCBOSTON ROBERTSON NA NA
DEALER(S) FROM WHOM PURCHASED STEPHENS, US BANCORP PIPER JAFFRAY
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
MORGAN GRENFELL SMALLCAP FUND
PROCEDURES PURSUANT TO RULE 10f-3
SECURITIES PURCHASED COMPARABLE SECURITY #1 COMPARABLE SECURITY #2
<S> <C> <C> <C>
(1) NAMES OF UNDERWRITERS BANCBOSTON ROBERTSON CREDIT SUISSE FIRST GOLDMAN SACHS, ALEX
STEPHENS, US BANCORP BOSTON, BANCBOSTON BROWN, ROBERTSON
PIPER JAFFRAY, ROBERTSON STEPHENS, STEPHENS, SOUNDVIEW,
SOUNDVIEW, DEUTSCHE NATIONSBANC DEUTSCHE MORGAN
BANK SECS., MONTGOMERY, FIRST GRENFELL, AG
DONALDSON LUFKIN & UNION CAPITAL EDWARDS, MORGAN
JENRETTE, HAMBRECHT MARKETS, DAIN STANLEY,
& QUIST, LEHMAN RAUSCHER WESSELS, PAINEWEBBER, SMITH
BROTHERS, DAIN FIRST ALBANY, BARNEY, UBS
RAUSCHER WESSELS, INVEMED ASSOCIATES, SECURITIES, COWEN &
FIRST ALBANY, KAUFMAN BROS., LEGG CO., DAIN BOSWORTH,
NEEDHAM & CO. MASON WOOD WALKER, NEEDHAM & CO.,
NEEDHAM & CO., SUTRO, UNTERBERG
CHARLES SCHWAB, SG HARRIS, WESSELS
COWENS SECURITIES, ARNOLD HENDERSON
C.E. UNTERBERG
(2) NAMES OF ISSUER PERSISTENCE SOFTWARE, INC. SILKNET SOFTWARE, INC. BEA SYSTEMS, INC.
(3) TITLE OF SECURITY PERSISTENCE SOFTWARE, INC. SILKNET SOFTWARE, INC. BEA SYSTEMS, INC.
COMMON STOCK COMMON STOCK COMMON STOCK
(4) DATE OF FIRST OFFERING JUNE 25, 1999 MAY 5, 1999 APRIL 11, 1997
(5) AMOUNT OF TOTAL OFFERING 3,000,000 SHARES 3,000,000 SHARES 5,000,000 SHARES
(6) TOTAL VALUE OF OFFERING $33,000,000 $45,000,000 $30,000,000
(7) UNIT PRICE $11.00 $15.00 $6.00
(8) UNDERWRITING DISCOUNT $0.77 (7%) $1.05 (7%) $0.42 (7%)
(9) DOLLAR AMOUNT PURCHASED $5,500 NA NA
(10) NUMBER OF SHARES PURCHASED 500 NA NA
(11) YEARS OF CONTINUOUS OPERATION THE COMPANY HAS BEEN IN CONTINUOUS NA NA
OPERATION FOR AT LEAST THREE YEARS
(12) % OF OFFERING PURCHASED BY FUND 0.0166 NA NA
(13) % OF OFFERING PURCHASED BY NA NA NA
ASSOCIATED INVESTMENT
COMPANIES
(14) % OF OFFERING PURCHASED BY FUND 0.0166 NA NA
AND ASSOCIATED FUNDS (LIMITED
TO 25% OF THE OFFERING)
(15) NAME(S) OF UNDERWRITER(S) OR BANCBOSTON ROBERTSON STEPHENS, US NA NA
DEALER(S) FROM WHOM PURCHASED BANCORP PIPER JAFFRAY, SOUNDVIEW
</TABLE>
