Invest in Kobren Mutual Funds

The Kobren Growth Fund is a mutual fund that invests in other mutual funds. The idea is that investors gain the benefits of a diversified portfolio of mutual funds without having to pick the individual funds themselves. The fund's investment adviser is E*Trade Asset Management, Inc., but the fund has hired Eric Kobren and Kobren Insight Management, Inc., to manage the fund. Follow these steps to invest.

Learn About the Kobren Growth Fund

Learn about the "fund of funds" concept, in which a mutual fund invests in other mutual funds. Because each mutual fund charges certain fees, when you invest in a fund of funds, you are essentially paying more fees than if you invest in mutual funds separately.

Remember that although the Kobren Growth Fund does not charge sales loads, it may invest in funds that do.

Evaluate your primary objectives. The objectives of the Kobren Growth Fund are diversification and long-term capital appreciation. The fund is intended for investors with a relatively long-term investment horizon (5 years or more) and not for investors who must maximize current income.

Invest in the Kobren Growth Fund

Download a prospectus from the Kobren Home Page (see the Resources section below), or call (800) 4KOBREN to request one. You can also request a prospectus be sent by mail using the online request form on the Web site.

Get the necessary applications. Unless you are opening an IRA account, you can download an application from the Kobren Web site. Individuals opening traditional IRA or Roth IRA accounts must download or request additional applications.

Complete your applications and send them by mail to E*Trade Securities. Look for the mailing address in the prospectus. Include a check for at least the minimum investment amount.

Open an account by wire. Call (800) 895-9936 for specific instructions, and complete and mail in an account application.

Open an account through a broker or dealer. You can also use the services of a mutual funds supermarket like TD Waterhouse Securities, Fidelity Investments or E*Trade securities to purchase shares.

Tips & Warnings

• You can arrange to have your initial investment debited from your bank account if you prefer not to send a check through the mail. Call the customer service number at (800) 895-9936 for more information.