TransNations Investments of New York is developing a new fund based on a proprietary Israeli equity index. The Amidex-35 Index Fund will invest in approximately three dozen Israeli companies that are traded on the Tel Aviv or U.S. stock exchanges. The no-load fund is currently in SEC registration and expected to be offered in February.

There will be little basis for comparing this fund's performance with others of its peers since there are currently no U.S.-based open-ended, no load funds which invest in Israeli securities. In March of 1996, the New England Funds introduced its Israel Growth Fund. But that fund never attracted many assets and was merged with New England Investments' Star Worldwide Fund.

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