THE
BRAMWELL
GROWTH FUND A NO-LOAD DIVERSIFIED MUTUAL FUND
ELIZABETH R. BRAMWELL, CFA
PRESIDENT & CHIEF INVESTMENT OFFICER
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OBJECTIVE INVESTMENT PHILOSOPHY
Long-term capital growth is the Fund's primary The Fund seeks to invest in companies that are
investment objective. Current income is a expected to benefit from the long-term payoff
secondary objective. Given the Fund's ob- from investment in research, development, capital
jective to achieve long-term growth of capital, spending and market expansion, which may
investment in the Fund may be best suited not be reflected in a one-year period in the equity
to investors who are not concerned with current market. The Fund also seeks to invest in companies
income. The Fund is not intended by itself to that are perceived to be attractively valued relative to
constitute a balanced investment program. their future growth prospects.
PERFORMANCE (3/31/99)<F1> PORTFOLIO DATA (3/31/99)
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BRAMWELL LIPPER NET ASSETS $265.2 million
Growth Growth Cash 2.1%
Fund Funds Index Turnover (FY 6/98) 49%
-------- ----------- Expense Ratio 1.59%
Median Weighted Mkt. Cap 24.2 billion
One Year 20.3% 17.5% P/E Ratio 28.2(99E), 23.5(00E)
Three Years 25.8 23.9 Growth Rate 20.1%(99E), 20.2%(00E)
Since Inception 25.0 23.3 (P/E)/Growth 1.2E vs 3.6E for S&P 500(00E)
(8/1/94) Symbol BRGRX
TOP TEN HOLDINGS (3/31/99) TOP TEN INDUSTRY SECTORS (3/31/99)
EMC 4.1% Information Processing 23.3%
Computer Sciences 3.1 Retailing 18.2
Walgreen 3.1 Financial Services 12.6
Pfizer 2.7 Communications 10.5
Home Depot 2.6 Healthcare 10.3
IBM 2.5 Employee Staffing 4.7
Kohl's 2.5 Industrial Products 4.3
Dell Computer 2.4 Electronics 2.8
MCI Worldcom 2.2 Home/Office Furniture 2.2
Robert Half 2.1 Entertainment/Leisure Time 1.6
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THE BRAMWELL FUNDS, INC.
FOR INFORMATION OR A PROSPECTUS, VISIT OUR WEBSITE AT
CALL 1 (800) BRAMCAP WWW.BRAMWELL.COM
<F1>Average annual total returns are historical and include changes in share
prices and reinvested dividends and distributions. The Lipper Growth Fund Index
is comprised of the 30 largest funds which by prospectus or portfolio practice,
normally invest in companies with long-term earnings expected to grow
significantly faster than earnings of the stocks represented in the major
unmanaged stock indices. The annual expense ratio of the Fund is capped at
1.75% which for the years through June 30, 1997 favorably affected
performance. Past performance is not predictive of future results. Investment
returns and principal value will fluctuate, so that shares, when redeemed, may
be worth more or less than their original cost. THE PROSPECTUS CONTAINS MORE
COMPLETE INFORMATION. PLEASE READ IT CAREFULLY BEFORE YOU INVEST OR SEND
MONEY.