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<PAGE> PAGE 9
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<PAGE> PAGE 11
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<PAGE> PAGE 12
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<PAGE> PAGE 13
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<PAGE> PAGE 14
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<PAGE> PAGE 15
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<PAGE> PAGE 16
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<PAGE> PAGE 17
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SIGNATURE AMY OLMERT
TITLE TREASURER & CFO
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<INVESTMENTS-AT-VALUE> 30522
<RECEIVABLES> 860
<ASSETS-OTHER> 6260
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 37642
<PAYABLE-FOR-SECURITIES> 4808
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 101
<TOTAL-LIABILITIES> 4909
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 2988
<SHARES-COMMON-STOCK> 167
<SHARES-COMMON-PRIOR> 57
<ACCUMULATED-NII-CURRENT> (90)
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 7939
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 4562
<NET-ASSETS> 32733
<DIVIDEND-INCOME> 27
<INTEREST-INCOME> 80
<OTHER-INCOME> 0
<EXPENSES-NET> 197
<NET-INVESTMENT-INCOME> (90)
<REALIZED-GAINS-CURRENT> 8114
<APPREC-INCREASE-CURRENT> 2294
<NET-CHANGE-FROM-OPS> 10408
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 0
<DISTRIBUTIONS-OF-GAINS> 1612
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 2567
<NUMBER-OF-SHARES-REDEEMED> 1017
<SHARES-REINVESTED> 130
<NET-CHANGE-IN-ASSETS> 14350
<ACCUMULATED-NII-PRIOR> 0
<ACCUMULATED-GAINS-PRIOR> 1436
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 194
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 311
<AVERAGE-NET-ASSETS> 25925
<PER-SHARE-NAV-BEGIN> 16.12
<PER-SHARE-NII> (0.03)
<PER-SHARE-GAIN-APPREC> 7.82
<PER-SHARE-DIVIDEND> 0
<PER-SHARE-DISTRIBUTIONS> (1.41)
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 22.50
<EXPENSE-RATIO> 1.74
</TABLE>
Morgan Grenfell Microcap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer Immersion Corp. MIPS Technologies Inktomi
Underwriters Hambrecht & Quist, Bear Deutsche Bank Securities, Goldman Sachs, BT Alex
Stearns & Co, BancBoston Bancamerica Robertson Brown, Hambrecht &
Robertson Stephens, Banc Stephens, Hambrecht & Quist Quist and others
of American Securities, (including DBSI)
DBSI. Goldman Sachs, Morgan
Stanley, Charles Schwab,
SG Cowen & Co, Warburg Dillon,
Chatsworth Securities, First
Southwest, Gerard Klauer
Mattison & Co., Nee
Years of continuous
operation, including
predecessors >3 >3 years >3 years
Security IMMR MIPS INKT
Is the affiliate a
manager or co-manager
of offering? no yes yes
Name of underwriter
or dealer from
which purchased Hambrecht & Quist n/a n/a
Firm commitment
underwriting? Yes yes yes
Trade date/Date of
Offering 11/12/1999 6/29/1998 6/9/1998
Total dollar amount
of offering sold
to QIBs $- $- $-
Total dollar amount
of any concurrent
public offering $51,000,000.00 $77,000,000 $40,572,000
Total $51,000,000.00 $77,000,000 $40,572,000
Public offering price $12.00 $14.00 $18.00
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission $.84 (7%) $.98 (7%) $1.26 (7%)
Shares purchased 600 n/a n/a
$ amount of purchase $7,200.00 n/a n/a
% of offering purchased
by fund 0.014% n/a n/a
% of offering purchased
by associated funds 0.024% n/a n/a
Total (must be less
than 25%) 0.038% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap fund
Securities Purchased Pursuant to Rule 10F-3
January - March 2000
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer Integrated Information Agency.com, Ltd. Whittman-Hart
Systems
Underwriters FleetBoston Robertson Goldman Sachs, Salomon DLJ, Adams Harkness & Hill,
Stephens, US Bancorp Smith Barney, Hambrecht Bancamerica Robertson
Piper Jaffray, Robert & Quist, etc. Stephens, Deutsche Morgan
W. Baird, Legg Mason, Grenfell,etc.
Chase H&Q, CIBC World
Markets, DBSI, First
Union Securities, ING
Barings, Lehman Bros,
Prudential Securities,
Adams Harkness & Hill,
Robinson-Humphrey,
Sutro & Co.
Years of continuous
operation, including
predecessors >3 >3 >3
Security IISX ACOM WHIT
Is the affiliate a
manager or co-manager
of offering? No No No
Name of underwriter or
dealer from which
purchased Robertson Stephens n/a n/a
Firm commitment
underwriting? Yes Yes Yes
Trade date/Date
of Offering 3/17/2000 12/8/1999 5/8/1998
Total dollar amount of
offering sold to QIBs $- $- $-
Total dollar amount of
any concurrent public
offering $69,000,000.00 $153,400,000 $130,140,000
Total $69,000,000.00 $153,400,000 $130,140,000
Public offering price 15.00 26.00 43.38
Price paid if other than
public offering price n/a n/a
Underwriting spread or
commission $1.05 (7%) $1.82 (7%) $2.17 (5%)
Shares purchased 100 n/a n/a
$ amount of purchase $1,500.00 n/a n/a
% of offering purchased
by fund 0.002% n/a n/a
% of offering purchased
by associated funds 0.022% n/a n/a
Total (Must be less
than 25%) 0.024% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer JNI Corporation Brocade Communications Gadzoox Networks
Underwriters DLJ, Bear Stears, Hambrecht n/a n/a
& Quist, DLJ Direct, Banc
of America Sec, Robertson
Stephens, DBSI, AG Edwards,
Lehman Bros, SG Cowen,
First Security Van Kasper,
Robert W. Baird, Dain
Rauscher Wessels, Gruntal,
Kaufman Bros., John G.
Kinnard, Ladenburg Thalm
Years of continuous
operation, including
predecessors > 3 years > 3 years > 3 years
Security JNIC BRCD ZOOX
Is the affiliate a
manager or co-manager
of offering? no no no
Name of underwriter
or dealer from
which purchased DLJ n/a n/a
Firm commitment? yes yes yes
Trade date/Date of
Offering 10/27/1999 5/25/1999 7/19/1999
Total dollar amount
of offering sold
to QIBs $- $- $-
Total dollar amount
of any concurrent
public offering $93,100,000.00 $61,750,000 $73,500,000
Total $93,100,000.00 $61,750,000 $73,500,000
Public offering price $19.00 $19.00 $21.00
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission $1.33 (7%) $1.33 (7%) $1.47 (7%)
Shares purchased 100 n/a n/a
$ amount of purchase $1,900.00 n/a n/a
% of offering purchased
by fund 0.00204% n/a n/a
% of offering purch.
by assoc. funds 0.00612% n/a n/a
Total (must be less
than 25%) 0.00816% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer The Management Network Charles River Associates Appnet Systems
Group, Inc.
Underwriters Hambrecht & Quist, BancBoston Nationsbanc Montgomery Credit Suisse First
Robertson Stephens, Salomon Securities, William Blair, Boston, Hambrecht &
Smith Barney, Jefferies & Co.,and others (including BT Quist, Deutsche Bank
Bear Stearns & Co, DBAB, DLJ, Alex Brown) Alex Brown, The
ING Barings, Merrill Lynch, Robinson Humphrey Co.,
Charles Schwab, Adams Harkness Charles Schwab & Co,
& Hill, George K. Baum & Co, and others
Doft & Co, First Security Van
Kasper, Hanifen, I
Years of continuous
operation, including
predecessors >3 >3 years >2 years
Security TMNG CRAI APNT
Is the affiliate a
manager or co-manager
of offering? No no no
Name of underwriter
or dealer from
which purchased Hambrecht & Quist n/a n/a
Firm commitment
underwriting? Yes yes yes
Trade date/Date
of Offering 11/23/1999 4/23/1999 6/17/1999
Total dollar amount
of offering sold
to QIBs $- $- $-
Total dollar amount
of any concurrent
public offering $78,455,000.00 $40,478,000 $72,000,000
Total $78,455,000.00 $40,478,000 $72,000,000
Public offering price $17.00 $18.50 $12.00
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission $1.19 (7%) $1.295 (7%) $.84 (7%)
Shares purchased 600 n/a n/a
$ amount of purchase $10,200.00 n/a n/a
% of offering
purchased by fund 0.013% n/a n/a
% of offering purchased
by associated funds 0.022% n/a n/a
Total (must be less
than 25%) 0.035% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer Navidec Inc. IXL Enterprises, Inc. Proxicom, Inc.
Underwriters First Security Van Kasper, n/a n/a
Advest, AG Edwards, Banc
of America Securities, D.A.
Davidson, DB Securities,
Hanifen Imhoff Inc., Janney
Montgomery Scott, Jefferies &
Co., Kirkpatrick Pettis Smith
Polian, Morgan Keegan & Co.,
Needham & Co., Painwebber Inc.
Years of continuous
operation, including
predecessors > 3 years > 3 years
Security NVDC IIXL PXCM
Is the affiliate a
manager or co-manager
of offering? no no yes
Name of underwriter or
dealer from which
purchased Van Kasper n/a n/a
Firm commitment
underwriting? yes yes yes
Trade date/Date of
Offering 10/21/1999 6/3/1999 4/19/1999
Total dollar amount
of offering sold
to QIBs $- $- $-
Total dollar amount of
any concurrent public
offering $23,125,000.00 $72,000,000 $58,500,000
Total $23,125,000.00 $72,000,000 $58,500,000
Public offering price $9.25 $12.00 $13.00
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission $0.6475 (7%) $0.84 (7%) $0.91 (7%)
Shares purchased 10,300 n/a n/a
$ amount of purchase $95,275.00 n/a n/a
% of offering purchased
by fund 0.412% n/a n/a
% of offering purchased
by associated funds 0.676% n/a n/a
Total (must be less
than 25%) 1.088% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer Netzee, Inc. Digital Insight nFront, Inc.
Underwriters Robinson Humphrey, JC Morgan Stanley Dean Witter, Hambrecht & Quist, JC
Bradford, SunTrust Equitable, Deutsche Banc Alex Brown, Bradford & Co, Raymond
DBAB, AG Edwards, Hambrecht Banc of America Securities, James, Soundview
& Quist, Salomon Smith Friedman Billings Ramsey and Technololgy Group and
Barney, Soundview Technology others others (including DBSI)
Group, William Blair, Friedman
Billings Ramsey, Hoak
Breedlove Wesneski, Morgan
Keegan & Co, Raymond James,
Scott & Stringf
Years of continuous
operation, including
predecessors >3 years >3 years >3 years
Security NETZ DGIN NFNT
Is the affiliate a
manager or co-manager
of offering? no yes no
Name of underwriter or
dealer from which
purchased Robinson Humphrey n/a n/a
Firm commitment
underwriting? Yes yes yes
Trade date/Date of
Offering 11/9/1999 9/30/1999 6/29/1999
Total dollar amount
of offering sold to
QIBs $- $-
Total dollar amount
of any concurrent
public offering $56,000,000.00 $52,500,000 $39,000,000
Total $56,000,000.00 $52,500,000 $39,000,000
Public offering price $14.00 $15.00 $10.00
Price paid if other
than public offering
price same n/a n/a
Underwriting spread or
commission $.98 (7)% $1.05 (7%) $.7 (7%)
Shares purchased 5,100 n/a n/a
$ amount of purchase $71,400.00 n/a n/a
% of offering purchased
by fund 0.128% n/a n/a
% of offering purchased
by associated funds 0.208% n/a n/a
Total (must be less
than 25%) 0.335% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer Optio Software, Inc. Bottomline Technologies Actuate Software Corp
Underwriters Merrill Lynch, Bear Stearns, BancBoston Robertson Goldman Sachs, Credit
Robinson Humphrey, BancBoston Stephens, BT Alex Brown, CIBC Suisse First Boston,
Robertson Stephens, DBSI, Oppenheimer and others and others, including
Hambrecht & Quist, Prudential BTAB
Securities, JC Bradford, Dain
Rauscher, First Albany,
Josephthal & Co., Moors &
Cabot, US Bancorp Piper
Jaffray, Utendahl Capital
Partners
Years of continuous
operation, including
predecessors >3 >3 >3
Security OPTO EPAY ACTU
Is the affiliate a
manager or co-manager
of offering? no no no
Name of underwriter
or dealer from which
purchased Merrill Lynch n/a n/a
Firm commitment
underwriting? Yes yes yes
Trade date/Date
of Offering 12/14/1999 2/12/1999 7/17/1998
Total dollar amount
of offering sold
to QIBs $-
Total dollar amount
of any concurrent
public offering $50,000,000.00 $44,200,000 $33,000,000
Total $50,000,000.00 $44,200,000 $33,000,000
Public offering price $10.00 13.00 11.00
Price paid if other
than public offering
price same n/a n/a
Underwriting spread or
commission $.70 (7)% $.91 (7%) $.77 (7%)
Shares purchased 14,400 n/a n/a
$ amount of purchase $144,000.00 n/a n/a
% of offering purchased
by fund 0.400% n/a n/a
% of offering purchased
by associated funds 0.490% n/a n/a
Total (must be less
than 25%) 0.890% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer PC Tel Broadcom Corporation HI/FN Inc.
Underwriters Banc of America, Warburg n/a n/a
Dillon Read, Needham & Co.,
BancBoston Robertson
Stephens, DB Alex. Brown,
Hambrecht & Quist, Lehman
Brothers, Dain Rauscher
Wessels, John G. Kinnard,
Pacific Crest Securities,
Pacific Growth Equities,
Sandler O'Neil and Partners
Years of continuous
operation, including
predecessors > 3 years > 3 years > 3 years
Security PCTI BRCM HIFN
Is the affiliate a
manager or co-manager
of offering? no yes no
Name of underwriter
or dealer from which
purchased Montgomery, Warburg, Neeham n/a n/a
Firm commitment? yes yes yes
Trade date/Date
of Offering 10/22/1999 4/16/1998 10/26/1999
Total dollar amount
of offering sold
to QIBs $- $- $-
Total dollar amount
of any concurrent
public offering $78,200,000.00 $84,000,000 $66,000,000
Total $78,200,000.00 $84,000,000 $66,000,000
Public offering price 17.00 24.00 33
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission $1.19 (7%) $1.68 (7%) $1.98 (6%)
Shares purchased 400 n/a n/a
$ amount of purchase $6,800.00 n/a n/a
% of offering purchased
by fund 0.00870% n/a n/a
% of offering purchased
by associated funds 0.09783% n/a n/a
Total (must be less
than 25%) 0.10652% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer PlanetRX.com Inc. Barnesandnoble.com EToys Inc.
Underwriters Goldman, BancBoston Robertson n/a n/a
Stephens, Hambrecht & Quist,
Wm. Blair, Bear Stearns,
CIBC World Markets, DB
Securities, Gruntal & Co.,
Edwards D. Jones & Co.,
C.L. King & Associates,
Merril Lynch, JP Morgan,
Morgan Keegan & Co., Salomon
Smith Barney Inc.
Years of continuous
operation, including
predecessors > 3 years > 3 years > 3 years
Security PLRX BNBN ETYS
Is the affiliate a
manager or co-manager
of offering? no no no
Name of underwriter
or dealer from which
purchased Goldman n/a n/a
Firm commitment? yes yes yes
Trade date/Date of
Offering 10/6/1999 5/25/1999 5/20/1999
Total dollar amount of
offering sold to QIBs $165,420,960.00 $- $-
Total dollar amount of
any concurrent public
offering $96,000,000.00 $450,000,000 $166,400,000
Total $261,420,960.00 $450,000,000 $166,400,000
Public offering price $16.00 $18.00 $20.00
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission $1.12 (7%) $1.08 (6%) $1.35 (6.75%)
Shares purchased 100 n/a n/a
$ amount of purchase $1,600.00 n/a n/a
% of offering purchased
by fund 0.00004% n/a n/a
% of offering purch.
by assoc. funds 0.00054% n/a n/a
Total (must be less
than 25%) 0.00057% n/a n/a
</TABLE>
Securities Purchased Pursuant to Rule 10F-3
Micro Cap Fund
January - March 2000
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer PSI Technologies Inc. Daleen Tech. Inc. Be Free Inc.
Underwriters Chase Securities, Robertson Stephens, DLJ, DLJ, Hambrecht & Quist,
FleetBoston Robertson Hambrecht & Quist, etc. Dain Rauscher Wessels,
Stephens, Thomas Weisel DLJDirect, etc.
Partners, Banc of
America Sec, Bear
Stearns, CIBC World
Markets, DBAB, DLJ,
ING Barings, Wit SoundView,
Warburg Dillon Read, Adams
Harkness Hill, Advest, Wm
Blair, E*Offering, Needham
& Co, R
Years of continuous
operation, including
predecessors >3 >3 >3
Security PSIT DALN BFRE
Is the affiliate a
manager or co-manager
of offering? No No No
Name of underwriter or
dealer from which purchased Chase H&Q n/a n/a
Firm commitment underwriting? Yes Yes Yes
Trade date/Date of Offering 3/15/2000 9/30/1999 11/3/1999
Total dollar amount of
offering sold to QIBs $- $- $-
Total dollar amount of any
concurrent public offering $56,000,000.00 $49,200,000 $67,200,000
Total $56,000,000.00 $49,200,000 $67,200,000
Public offering price 16.00 12.00 12.00
Price paid if other than
public offering price n/a n/a
Underwriting spread or
commission $1.12 (7%) $0.84 (7%) $0.84 (7%)
Shares purchased 100 n/a n/a
$ amount of purchase $1,600.00 n/a n/a
% of offering purchased
by fund 0.003% n/a n/a
% of offering purchased
by associated funds 0.026% n/a n/a
Total (Must be less
than 25%) 0.029% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
Security Purchased Comparison Security Comparison Security
Issuer Sage, Inc. Silicon Image
Underwriters BancBoston Robertson Credit Suisse First Boston, n/a
Stephens, Prudential Robertson Stephens, Dain
Securities, Needham & Co, Rauscher Wessels and others
DBSI, Lehman Bros, US
Bancorp Piper Jaffray,
E*Trade Securities
Years of continuous
operation, including
predecessors >3 years >3 years
Security SAGI SIMG
Is the affiliate a
manager or co-manager
of offering? no no
Name of underwriter
or dealer from
which purchased Robertson Stephens n/a n/a
Firm commitment
underwriting? Yes Yes
Trade date/Date of
Offering 11/11/1999 10/7/1999
Total dollar amount
of offering sold
to QIBs $- $- $-
Total dollar amount
of any concurrent
public offering $36,000,000.00 $46,800,000 $-
Total $36,000,000.00 $46,800,000 $-
Public offering price $12.00 $12.00 $-
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission $.84 (7)% $.84 (7%) 0.00%
Shares purchased 500 n/a n/a
$ amount of purchase $6,000.00 n/a n/a
% of offering purchased
by fund 0.017% n/a n/a
% of offering purchased
by associated funds 0.027% n/a n/a
Total (must be less
than 25%) 0.043% n/a n/a
Securities Purchased Pursuant to Rule 10F-3
Micro Cap Fund
January - March 2000
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer Sequenom Industrial Celera Genomics Gene Logic Inc.
Genomics
Underwriters Warburg Dillon Read, Morgan Stanley Dean ING Barings, Chase H&Q,
FleetBoston Robertson Witter, Goldman Sachs, Robertson Stephens, Dain
Stephens, SG Cowen, SG Cowen, ING Barings, Rauscher Wessels
Banc of America Sec, Bear Stearns
Bear Stearns, Cantor
Fitzgerald, DBSI,
DLJ, Desdner Kleinwort
Benson, H&Q, ING
Barings, Lehman Bros,
Merrill Lynch, Morgan
Stanley
Years of continuous
operation, including
predecessors >3 >3 >3
Security SQNM CRA GLGC
Is the affiliate a manager
or co-manager of offering? No No No
Name of underwriter or
dealer from which purchased Warburg Dillon Read n/a n/a
Firm commitment? Yes Yes Yes
Trade date/Date of Offering 1/31/2000 2/29/2000 1/27/2000
Total dollar amount of
offering sold to QIBs $- $- $-
Total dollar amount of any
concurrent public offering $136,500,000.00 $855,000,000 $235,200,000
Total $136,500,000.00 $855,000,000 $235,200,000
Public offering price 26.00 225.00 56.00
Price paid if other than
public offering price n/a n/a
Underwriting spread or
commission $1.82 (7%) $8.865 (3.94%) $2.94 (5.25%)
Shares purchased 100 n/a n/a
$ amount of purchase $2,600.00 n/a n/a
% of offering purchased by
fund 0.002% n/a n/a
% of offering purchased by
associated funds 0.021% n/a n/a
Total (Must be less
than 25%) 0.023% n/a n/a
</TABLE>
Morgan Grenfell Micro Cap Fund - 10f-3
Transactions for Fourth Quarter 1999
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer SmarterKids.com, Inc. eToys Inc. Barnesandnoble.com
Underwriters Hambrecht & Quist, US Bancorp Goldman Sachs, BancBoston Goldman, Merrill,
Piper Jaffray, E*Offering Robertson Stephens, DLJ, Salomon Smith Barney,
Corp, BancBoston Robertson Merrill Lynch, and others Wit Capital, and others
Stephens, DBAB, DLJ, Salomon
Smith Barney, Adams Harkness
& Hill, Advest, Gerard Klauer
Mattison & Co, Legg Mason,
Raymond James, Sands Brothers
& Co, Tucker Anthony Clear
Years of continuous
operation, including
predecessors >3 >3 years > 3 years
Security SKDS ETYS BNBN
Is the affiliate a
manager or co-manager
of offering? No no no
Name of underwriter
or dealer from
which purchased Hambrecht & Quist n/a n/a
Firm commitment
underwriting? Yes yes yes
Trade date/Date
of Offering 11/23/1999 5/20/19999 5/25/1999
Total dollar amount
of offering sold
to QIBs $- $- $-
Total dollar amount
of any concurrent
public offering $63,000,000.00 $166,400,000 $450,000,000
Total $63,000,000.00 $166,400,000 $450,000,000
Public offering price $14.00 $20.00 18.00
Price paid if other
than public offering
price same n/a n/a
Underwriting spread
or commission $.98 (7%) $1.35 (6.75%) 1.08 (6%)
Shares purchased 1,200 n/a n/a
$ amount of purchase $16,800.00 n/a n/a
% of offering purchased
by fund 0.027% n/a n/a
% of offering purchased
by associated funds 0.042% n/a n/a
Total (must be less
than 25%) 0.069% n/a n/a
</TABLE>
Securities Purchased Pursuant to Rule 10F-3
Micro Cap fund
January - March 2000
<TABLE>
<CAPTION>
Security Purchased Comparison Security Comparison Security
<S> <C> <C> <C>
Issuer Websense, Inc. N2H2, Inc. Webtrends
Underwriters Chase Sec, SG Cowen, CIBC World Markets, US Dain Rauscher Wessels,
Wit SoundView, Bancorp Piper Jaffray, BancBoston Robertson
FleetBoston Robertson etc., including DBSI" Stephens, SoundView
Stephens, Banc of Technology Group, etc.
America Sec, CIBC
World Markets, DBSI,
SSB, Warburg Dillon
Read, Crowell Weedon,
Dain Rauscher Wessels,
E*Offering Corp, First
Albany, First Security
Van Kasper, Pacific
Crest Sec
Years of continuous
operation, including
predecessors >3 >3 >3
Security WBSN NTWO WEBT
Is the affiliate a
manager or co-manager
of offering? No No No
Name of underwriter or
dealer from which purchased Chase H&Q n/a n/a
Firm commitment? Yes Yes Yes
Trade date/Date of Offering 3/27/2000 7/29/1999 5/12/1999
Total dollar amount of
offering sold to QIBs $- $- $-
Total dollar amount of any
concurrent public offering $72,000,000.00 $65,000,000 $94,875,000
Total $72,000,000.00 $65,000,000 $94,875,000
Public offering price 18.00 13.00 33.00
Price paid if other than POP n/a n/a
Underwriting spread or
commission $1.26 (7%) $0.91 (7%) $1.73 (5.24%)
Shares purchased 200 n/a n/a
$ amount of purchase $3,600.00 n/a n/a
% of offering purch by fund 0.005% n/a n/a
% of offering purchased
by associated funds 0.105% n/a n/a
Total (Must be less
than 25%) 0.110% n/a n/a
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