Instructions for Voting Your Proxy

      THE INVESTEC WIRELESS WORLD FUND(TM) is offering shareholders of record
      three alternative ways of voting your proxies:

o   Through the Internet (using a browser)
o   By Telephone
o   By Mail (traditional method)

    Your Internet or telephone vote authorizes the named proxies to vote your
    shares in the same manner as if you had returned your proxy card. We
    encourage you to use these cost effective and convenient ways of voting, 24
    hours a day, 7 days a week.

INTERNET VOTING Available only until 5:00 p.m. Eastern time on December 26,
2001.

o   Visit our Internet voting Website at http://proxy.georgeson.com.
o   Enter the COMPANY NUMBER AND CONTROL NUMBER shown below and follow the
    instructions on your screen.
o   You will incur only your usual Internet charges.

    TELEPHONE VOTING Available only until 12:00 p.m. Eastern time on December
    27, 2001.

o   This method of voting is available for residents of the U.S. and Canada.
o   Please call toll-free 1-888-899-2580, Monday through Friday 9:00 a.m. -
    11:00 p.m. Eastern time, or Saturday 12:00 noon - 6:00 p.m.
o   Your vote will be confirmed and cast as you directed.

VOTING BY MAIL

o   Simply mark, sign and date your proxy card and return it in the postage-paid
    envelope.
o   If you are voting by telephone or the Internet, please do not mail your
    proxy card.


                    --------------          --------------
                    COMPANY NUMBER          CONTROL NUMBER
                    --------------          --------------


                 TO VOTE BY MAIL, PLEASE DETACH PROXY CARD HERE
- --------------------------------------------------------------------------------

      To vote, mark blocks below in blue
/X/   or black ink as in this example


(continued from other side)


IF THIS PROXY CARD IS RETURNED AND SIGNED, AND NO CHOICE IS INDICATED, THIS
PROXY WILL BE VOTED AFFIRMATIVELY ON THE MATTER PRESENTED. THE BOARD OF TRUSTEES
RECOMMENDS THAT YOU VOTE "FOR" THE FOLLOWING PROPOSAL.


Vote on Proposal:

1.  To approve the Agreement and Plan of         FOR    AGAINST    ABSTAIN
    Reorganization and Liquidation, as is        /_/     /_/         /_/
    more fully described in the accompanying
    Combined Prospectus and Proxy Statement,
    together with each and every transaction
    contemplated thereby.

2.  In their discretion, the Proxies are
    authorized to vote upon such other
    business as may properly come before the
    meeting.



                              Please sign exactly as your name appears on this
                              card. When account is joint tenants, all should
                              sign. When signing as executor, administrator,
                              trustee or guardian, please give title. If a
                              corporation or partnership, sign entity's name and
                              by authorized person.

                              ____________________________________________
                              Signature                              (Date)

                              ____________________________________________
                              Signature (if jointly held)            (Date)


           THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. DETACH
                         AND RETURN THIS PORTION ONLY.

                                       17

                                 INVESTEC FUNDS
                             WIRELESS WORLD FUND(TM)

P                     SPECIAL JOINT MEETING OF SHAREHOLDERS
                             SCHEDULED TO BE HELD ON
R                               December 27, 2001

O     THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES of the Investec Funds, on
      behalf of the Investec Wireless World Fund(TM) (the "Fund"), for use at
X     the special joint meeting of shareholders ("Special Meeting") to be held
      at the offices of the Fund, 1055 Washington Blvd., 3rd Floor, Stamford,
Y     Connecticut on December 27, 2001 at 3:30 p.m. Eastern Time. The
      undersigned hereby appoints Royce N. Brennan and Ken Silverman and each of
      them, with full power of substitution, as proxies of the undersigned to
      vote at the above stated Special Meeting, and at all adjournments thereof,
      all shares of beneficial interest of the Fund that are held of record by
      the undersigned on the record date for the Special Meeting, upon the
      proposal indicated below:

                            (continued on other side)


Instructions for Voting Your Proxy

THE INVESTEC internet.com(TM) Index FUND is offering shareholders of record
three alternative ways of voting your proxies:

o   Through the Internet (using a browser)
o   By Telephone
o   By Mail (traditional method)

Your Internet or telephone vote authorizes the named proxies to vote your shares
in the same manner as if you had returned your proxy card. We encourage you to
use these cost effective and convenient ways of voting, 24 hours a day, 7 days a
week.

INTERNET VOTING Available only until 5:00 p.m. Eastern time on December 26,
2001.

o   Visit our Internet voting Website at http://proxy.georgeson.com.
o   Enter the COMPANY NUMBER AND CONTROL NUMBER shown below and follow the
    instructions on your screen.
o   You will incur only your usual Internet charges.

TELEPHONE VOTING Available only until 12:00 p.m. Eastern time on December 27,
2001.

o   This method of voting is available for residents of the U.S. and Canada.
o   Please call TOLL-FREE 1-888-899-2580, Monday through Friday 9:00 a.m. -
    11:00 p.m. Eastern time, or Saturday 12:00 noon - 6:00 p.m.
o   Your vote will be confirmed and cast as you directed.

VOTING BY MAIL

o   Simply mark, sign and date your proxy card and return it in the postage-paid
    envelope.
o   If you are voting by telephone or the Internet, please do not mail your
    proxy card.


                    --------------       --------------
                    COMPANY NUMBER       CONTROL NUMBER
                    --------------       --------------



                 TO VOTE BY MAIL, PLEASE DETACH PROXY CARD HERE
- --------------------------------------------------------------------------------


/X/   To vote, mark blocks below in blue
      or black ink as in this example

(continued from other side)


IF THIS PROXY CARD IS RETURNED AND SIGNED, AND NO CHOICE IS INDICATED, THIS
PROXY WILL BE VOTED AFFIRMATIVELY ON THE MATTER PRESENTED. THE BOARD OF TRUSTEES
RECOMMENDS THAT YOU VOTE "FOR" THE FOLLOWING PROPOSAL.


Vote on Proposal:

1.  To approve the Agreement and Plan of        FOR    AGAINST    ABSTAIN
    Reorganization and Liquidation, as is       /_/      /_/        /_/
    more fully described in the accompanying
    Combined Prospectus and Proxy Statement,
    together with each and every transaction
    contemplated thereby.

2.  In their discretion, the Proxies are
    authorized to vote upon such other
    business as may properly come before the
    meeting.



                              Please sign exactly as your name appears on this
                              card. When account is joint tenants, all should
                              sign. When signing as executor, administrator,
                              trustee or guardian, please give title. If a
                              corporation or partnership, sign entity's name and
                              by authorized person.

                              ____________________________________________
                              Signature                              (Date)

                              ____________________________________________
                              Signature (if jointly held)            (Date)

           THIS PROXY CARD IS VALID ONLY WHEN SIGNED AND DATED. DETACH
                         AND RETURN THIS PORTION ONLY.



                                 INVESTEC FUNDS
                           internet.com(TM) Index Fund
P
                      SPECIAL JOINT MEETING OF SHAREHOLDERS
R                            SCHEDULED TO BE HELD ON
                                December 27, 2001
O
      THIS PROXY IS SOLICITED BY THE BOARD OF TRUSTEES of the Investec Funds, on
X     behalf of the Investec internet.com(TM) Index Fund (the "Fund"), for use
      at the special joint meeting of shareholders ("Special Meeting") to be
Y     held at the offices of the Fund, 1055 Washington Blvd., 3rd Floor,
      Stamford, Connecticut on December 27, 2001 at 3:30 p.m. Eastern Time. The
      undersigned hereby appoints Royce N. Brennan and Ken Silverman and each of
      them, with full power of substitution, as proxies of the undersigned to
      vote at the above stated Special Meeting, and at all adjournments thereof,
      all shares of beneficial interest of the Fund that are held of record by
      the undersigned on the record date for the Special Meeting, upon the
      proposal indicated below:

                            (continued on other side)