** B2B Fund **
I like the potential of this forthcoming pure B2B offering:
PRESS RELEASE
CONTACT: Richard Dukas
KCSA Public Relations Worldwide
(212) 896-1270
FOR IMMEDIATE RELEASE
AMERINDO ANNOUNCES EXPANSION OF ITS FUND FAMILY
INTERNET B2B FUND, HEALTH & BIOTECHNOLOGY FUND FILINGS MADE ? LATE MAY
AVAILABILITY EXPECTED
Plans to launch Amerindo Technology Fund II upon closing its flagship fund when
assets reach $1.5 billion
Alberto Vilar has interest in adding Internet Capital Group, LookSmart LTD. and
OnDisplay Inc. to Amerindo?s portfolios
NEW YORK, March 13, 2000 ? In response to increasing market demand, Amerindo
Investment Advisors Inc. announced that it is launching two new mutual funds; the
Amerindo Internet B2B (Business-to-Business) Fund and the Amerindo Health &
Biotechnology Fund. Amerindo today filed registrations with the SEC for the two new
funds, which should be available to investors by the end of May 2000.
Alberto Vilar, Amerindo?s President and co-portfolio manager, also announced today
that the Company has filed a registration statement for the Amerindo Technology Fund
II, which should be available when the Firm?s flagship fund, The Amerindo Technology
Fund, closes to new investors upon reaching a $1.5 billion cap in assets.
Additionally, Mr. Vilar has announced his interest in the following Internet-related
names: Internet Capital Group, LookSmart LTD. and OnDisplay.
Both the Amerindo Internet B2B and the Health & Biotechnology funds will be based
on Amerindo?s unique, concentrated investment style in which the company takes
large initial positions in a limited number of potential core stocks.
?We believe that the Internet has the potential to create at least $3 trillion in new
shareholder wealth over the next five years, and that 70% of this wealth will come
from the business-to-business sector,? said Mr. Vilar. ?Clearly, the Internet is quickly
becoming businesses? preferred vehicle for communications and commerce and will
continue to expand rapidly as businesses move to adopt Internet strategies on a
global scale. We will be squarely positioned to leverage the phenomenal growth that
is occurring in this once-in-a-lifetime opportunity, through the Amerindo Internet B2B
Fund.
?Our investment strategy will focus on three primary areas that are driving the
growth of the Internet: infrastructure software, telecommunication companies
required to support B2B commerce and the continued build-out of the Internet, and
pure e-commerce players,? Mr. Vilar added.
The Amerindo Health & Biotechnology fund will invest in companies in two sectors:
biotechnology and Internet healthcare.
?Amerindo also has an enviable reputation in the healthcare and biotechnology
sectors, having literally been the first institutional investor in many of the notable early
winners such as Genentech, Amgen, Chiron and Centocor.? said Mr. Vilar. ?While our
recent investment focus has been concentrated primarily in the Internet, we have long
championed the promise of biotechnology to transform the delivery of human
therapeutics and diagnostics.
?Lab breakthroughs plus an aging global population will continue to foster
opportunities in health sciences and biotechnology. The genomics sector has helped
to catapult biotech stocks to new highs but we still believe that many of the top names
have considerable upside potential.?
Commenting on the current state of the market, Mr. Vilar said that he continues to
believe that 2000 will be a ?transition year? for the stocks of top-tier Internet, health
sciences and biotech companies. However, he is careful to point out that he still
suspects that a correction, not unlike last year?s, is likely to occur in this first half.
?We predicted a correction for the technology sector last April, which is exactly
what happened. Stocks then went onto new highs in November and December. While
year 2000 already has continued strength for both the Internet and biotech sectors,
we still feel that large market swings this year are inevitable. Neither sector is widely
owned by large institutional investors which should cushion the downside.?
Mr. Vilar commented on the pending closure of the Amerindo Technology Fund and
the launch of the Tech Fund II. ?We expect the Fund to reach $1.5 billion this year.
Once the assets get past a certain asset size, some flexibility can be lost with a
concentrated style of management like ours. We also believe that Amerindo?s style is
uniquely tailored to exploit the extraordinary Internet opportunity that lies ahead. The
Tech Fund II is really a natural extension of our long proven record in emerging
technology investing.?
The average annualized total return for the Amerindo Technology Fund Class D
shares for the twelve months ended 12/31/99 and since inception (10/28/96) was
248.86% and 63.32% respectively.
There are no cap size limitations on stocks in the Amerindo Internet B2B Fund and
the Amerindo Health & Biotechnology Fund, and both are non-diversified. Similar to the
Amerindo Technology Fund, the minimum investment for all of the Funds will be
$2,500, and distribution will be made through three classes ? A, C and D. The Funds
will be available to direct retail investors and through fund supermarkets such as
Schwab, Fidelity and others, as well as through brokers, independent investment
advisors and financial planners.
Amerindo Investment Advisors Inc. pioneered in the early 1980s the management of
emerging growth portfolios with emphasis on electronic technology and healthcare
stocks. A global company with approximately $8 billion under management, Amerindo
is the premier emerging growth stock manager specializing in leading-edge technology
and biotechnology and is preeminent in Internet-related portfolio investments.
A registration statement relating to these securities has been filed with the Securities and
Exchange Commission but has not yet become effective. These securities may not be sold nor
may offers to buy be accepted prior to the time the registration statement becomes effective.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall
there be any sale of these securities in any State in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of any such State.
Past performance is no guarantee of future results. Past performance data quoted represents
past performance and the investment return and principal value of an investment will fluctuate so
that an investor?s shares, when redeemed, may be worth more or less than their original cost. The
performance quoted herein may not be repeated. Technology stocks during this period experienced
stronger gains than the market as a whole. This is a non-diversified fund and may invest a greater
share of its assets in a particular issuer. There are specific risks inherent in investing in the
technology and science areas, smaller capitalized companies, and foreign securities. The Fund had
a heavy concentration in Yahoo and eBay Inc. during the one-year period ended 12/31/99.
The information provided herein represents the opinion of the manager and is not intended to be a
forecast of future events, a guarantee of future results nor investment advice. Further, there is
no assurance that certain securities will remain in or out of the portfolio.
Please call 1-888 ?TECH FUND or access their website www.amerindo.com for a prospectus
containing complete information including risks, charges and expenses. Read it carefully before
you invest.
Amerindo Technology Fund is distributed by SEI Investments Distribution Co., Oaks, PA 19456.
This press release, and prior releases, are available on the KCSA Public Relations Worldwide Web
site at www.kcsa.com.
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