The Open Fund, a fund designed specifically for online investors, may become the latest fund to employ a relatively new concept in the mutual fund world - proxy solicitations sent via e-mail to fund shareholders.

In a preliminary proxy statement filed with the SEC Dec. 27, MetaMarkets said that the fund's "adviser and the fund's other service providers may solicit proxies over the Internet or by phone and mail." Details of the impending OpenFund Internet proxy solicitation were not available. Open Fund is one of a new breed of online funds that asks investors to receive all fund documents and communications electronically.

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