WITNESSETH

                                                                 Exhibit 99.a(3)

                        KOBRICK-CENDANT INVESTMENT TRUST
                       AMENDMENT TO MASTER TRUST AGREEMENT
                   (CHANGING NAME TO KOBRICK INVESTMENT TRUST)

      Amendment to the Agreement and Declaration of Trust made at Boston,
Massachusetts as of December 29, 1998, by the Trustees thereunder.

                                   WITNESSETH

      WHEREAS, the Trust was formed by the Agreement and Declaration of Trust,
dated as of October 10, 1997; and

      WHEREAS, the Declaration of Trust provides that the Declaration of Trust
may be amended at any time, so long as such amendment does not have a material
adverse effect on the rights of any Shareholder with respect to which such
amendment is or purports to be applicable and so long as such amendment is not
in contravention of applicable law, including the 1940 Act, by an instrument in
writing signed by an officer of the Trust pursuant to the vote of a majority of
the Trustees; and

      WHEREAS, by unanimous vote on December 7, 1998, the Trustees approved the
amendment of the Declaration of Trust to change the name of the Trust to Kobrick
Investment Trust.

      NOW, THEREFORE, the Declaration of Trust is hereby amended to reflect the
name of the Trust and the Funds created thereunder to "Kobrick Investment
Trust," the "Kobrick Emerging Growth Fund," and the "Kobrick Capital Fund" and
the "Kobrick Growth Fund."

      IN WITNESS WHEREOF, the undersigned hereunto sets his hand in the City of
Boston, Massachusetts as of the day and year first above written.

                                  /s/ Xxxxxxx X. Xxxxxxx
                                      ------------------------------
                                      Xxxxxxx X. Xxxxxxx
                                      Secretary