With the recent downturn in the fortunes of the equity markets, there has been little cause for levity, but the Monument Funds Group provided a source of amusement to some financial analysts when it announced a three-for-one share split for its extraordinarily successful Internet fund.

Since its inception in November 1998 to Sept. 30, 1999, the Monument Internet Fund has returned, after the deduction of its 4.75 percent front-end sales charge, 154.57 percent. Still, it has only been able to attract $47 million in assets, compared to $579 million garnered by The Internet Fund and $2.4 billion by the Munder NetNet Fund, its rivals.

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