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CONSENT OF INDEPENDENT AUDITORS
We consent to the reference to our firm under the captions "Financial
Highlights" and "Independent Auditors" and to the use of our report dated
October 27, 2000 for the Universal Capital Growth Fund in the Registration
Statement (Form N-1A) of Universal Capital Investment Trust and its
incorporation by reference in the related Prospectus and Statement of Additional
Information filed with the Securities and Exchange commission in this
Post-Effective Amendment No. 13 to the Registration Statement under the
Securities Act of 1933 (File No. 333-7668) and in this Amendment No. 15 to the
Registration Statement under the Investment Company Act of 1940 (File No.
811-6212).
/s/ Ernst & Young LLP
Chicago, Illinois
November 27, 2000
