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To: BUYandHOLD who wrote (138328)	8/2/1999 11:24:00 PM
From: Sam Bose	Respond to of 176387

Goldman Sachs new Internet Fund may invest in DELL...... Another reason to be excited about, perhaps, in these dog days of summer?! Goldman WILL pull in the dollar amounts talked about here, and putting some of it to work buying DELL shares will be a godsend. :-o) This article appeared on theStreet.com tonight. ********************************************************************* Funds Notebook: Goldman Sachs Throws Its Weight Behind an Internet Fund By Joe Bousquin Staff Reporter, TheStreet.com 8/2/99 6:54 PM ET Fidelity has scoffed at the idea. Vanguard won't even consider it. But button-down Wall Street investment firm Goldman Sachs (GS:NYSE) is putting its name behind an Internet mutual fund. The Goldman Sachs Internet Tollkeeper fund (hey, it chose the name) plans to invest in companies that will profit by increased Internet activity. "Like a toll collector for a highway or bridge, these tollkeeper companies may grow revenue by increasing 'traffic,' or customers and sales, and raising 'tolls,' or prices," the fund's prospectus reads. That concept suggests Goldman would be less likely to put its name or assets behind pure-play Internet start-ups like priceline.com (PCLN:Nasdaq) and drkoop.com (KOOP:Nasdaq), and more inclined to invest in companies like Cisco (CSCO:Nasdaq) or Dell (DELL:Nasdaq). The prospectus says the fund also will look for companies that "will benefit from the growth of the Internet by providing access, infrastructure, content and services to Internet companies and customers." The Tollkeeper fund will be available to investors for a minimum of $1,000 on its A shares, which carry a 5.5% load and have a capped expense ratio of 1.5%. B and C shares will be available with back-end loads of 5% and 1%, respectively. Shares should go on sale within the next two months, according to the prospectus. While this may not be the reincarnation of the Internet fund, Goldman's venture into the space could lend a certain credibility to a sector that major fund companies have scorned. "Obviously, they're very bullish on the Internet by introducing a fund," says Jim Folwell of mutual fund consultant Cerulli Associates. "There are a lot of great minds at Goldman Sachs. I have a hard time second-guessing their decisions." He also notes that the Internet category "is one of the few that's attracting [positive] net cash flows." A Goldman spokeswoman did not return a call seeking comment. Folwell estimates Goldman could pull in as much as $100 million in assets in its first month with an Internet offering. The rolling out of the fund goes against the tide of established fund companies, which have resisted introducing pure-play Internet funds. Most notable among them is Fidelity, which has estimated it could attract $3 billion in assets in the first month if it introduced an Internet fund.