Exhibit 17(b)

Proxy Information

Turner Large Cap Growth Equity Fund will host a Special Meeting of
Shareholders on May 31, 2000, at the offices of Turner Investment Partners,
Inc. in Berwyn, Pennsylvania. The purpose of this meeting is to vote on a
proposal to reorganize your Fund into a substantially similar fund that is
being created by Mercury Asset Management Funds, Inc., called Mercury Select
Growth Fund.

The first few pages of this booklet highlight key points about the proposed
Reorganization and explain the proxy process, including how to cast your
votes. Before you vote, please read the full text of the combined Proxy
Statement/Prospectus for a complete understanding of our proposal.

KEY POINTS ABOUT THE PROPOSED REORGANIZATION

PURPOSE OF THE REORGANIZATION
The purpose of the Reorganization is to make your Fund a part of the Mercury
Group of Funds. Under this proposal, your Fund's assets and liabilities would
be transferred to Mercury Select Growth Fund, a new fund that is being created
just for this purpose.  Turner Investment Partners would serve as sub-adviser
for the underlying Portfolio in which Mercury Select Growth Fund invests as
part of a "master/feeder" structure and continue to be in charge of the day-
to-day investment of  your Fund as part of Mercury Select Growth Fund.
Mercury Asset Management US, a division of Fund Asset Management, L.P.
("Mercury"), however, would replace Turner Investment Partners as the
investment manager of your Fund. Your existing Board of Trustees believes that
the Reorganization is in shareholders' best interests for the following
reasons:

POTENTIAL BENEFITS OF THE REORGANIZATION
Given the competitive nature of the mutual fund industry, Turner Investment
Partners determined that it would be prudent to enter into an arrangement with
Mercury.  Joining Mercury should enable your Fund's assets to grow due to the
substantial mutual fund distribution capabilities of Mercury and its
affiliates.  It is expected that assets in your Fund will grow considerably
once the Fund is within the Mercury Group of Funds, which may result in a
larger, more stable asset base for the Fund. As a result of a larger asset
base, Mercury Select Growth Fund may benefit from economies of scale which
over time may result in lower operating expenses for Mercury Select Growth
Fund than for your existing Fund.

In the past, Turner Investment Partners has contractually agreed to waive fees
and reimburse expenses in order to keep your Fund's total operating expenses
from exceeding 1.00% for the year ended January 31, 2001, or from exceeding
1.25% in any subsequent year. Due to the small size of your Fund, its
operating expenses have consistently exceeded these levels.  As a result,
Turner Investment Partners has waived fees and reimbursed expenses in order to
keep overall expenses at the level of the cap.  Turner Investment Partners has
also guaranteed that it will provide your Fund with fee waivers and expense
reimbursements in the future, but a higher level of 1.25%.  Therefore, absent



a substantial growth in assets of your Fund, shareholder expenses could make
Turner Investment Partner's continued subsidization of your Fund not
economical.  As a result, Turner Investment Partners and your Fund's Board of
Trustees have sought a means of increasing the Fund's asset base by making it
a part of the Mercury Group of Funds. Mercury and its affiliated companies
have over $546 billion in assets over management at February 2000.  Mercury
intends to devote substantial efforts in offering the Mercury Select Growth
Fund's shares for sale.  Based on Mercury's estimates, Mercury Select Growth
Fund is expected to feature a total expense ratio (before waivers and
reimbursements) of 1.85% for its first full year of operations following the
Reorganization, an annual cost to shareholders of $18.50 for each $1,000
invested.  This expense ratio does not include fee waivers and expense
reimbursements by Mercury equal to .60% or $6.00 for each $1,000 invested. By
contrast, your Fund's total expense ratio (before waivers and reimbursements)
for 1999 was 2.41%, an annual cost to shareholders of $24.10 for each $1,000
invested.  This expense ratio does not include fee waivers and expense
reimbursements by Turner Investment Partners equal to 1.41% or $14.10 for each
$1,000 invested.

EXPANDED SHAREHOLDER SERVICES
As a shareholder of Mercury Select Growth Fund, you will have access to a wide
range of shareholder services, including 24-hour access to your account,
exchange privileges with other Mercury funds and access to Mercury's
comprehensive investor education programs.

HOW THE REORGANIZATION WILL AFFECT YOUR ACCOUNT
If shareholders approve the Reorganization, your Turner Large Cap Growth
Equity Fund shares will be exchanged, on a tax-free basis, for an equal number
of Class I shares of Mercury Select Growth Fund.  Your account registration
and account options, such as dividend reinvestment elections, will remain the
same unless you change them.  In addition, your aggregate cost basis in the
account will remain the same.

TAX-FREE NATURE OF THE REORGANIZATION
The Reorganization will be accomplished on a tax-free basis, meaning that you
will not realize any capital gains when your Fund shares are exchanged for
Class I shares of Mercury Select Growth Fund.