EXHIBIT 13(a)
PURCHASE AGREEMENT
Insight Premier Funds (the "Trust"), a Massachusetts
business trust, and Insight Management, Inc. (the "Buyer")
hereby agree as follows:
1. The Trust hereby offers the Buyer and the Buyer
hereby purchases 5,000 shares (the "Shares") at $10.00 per
share of the Trust's Insight Growth Fund (the "Fund"), with
par value of $.001 per share. The Shares are the "initial
shares" of the Fund. The Buyer hereby acknowledges receipt
of a purchase confirmation reflecting the purchase of the
Shares, and the Trust hereby acknowledges receipt from the
Buyer of funds in the amount of $50,000 in full payment for
the Shares.
2. The Buyer represents and warrants to the Trust
that the Shares purchased by the Buyer are being acquired
for investment purposes and not for the purpose of
distribution.
3. The Buyer agrees that if it or any direct or
indirect transferee of the Shares held by the Buyer redeems
the Shares prior to the fifth anniversary of the date that
the Fund begins its investment activities, the Buyer will
pay to the Fund an amount equal to the number resulting from
multiplying the Fund's total unamortized organizational
expenses by a fraction, the numerator of which is equal to
the number of Shares redeemed by the Buyer or such
transferee and the denominator of which is equal to the
number of Shares outstanding as of the date of such
redemption, as long as the administrative position of the
staff of the Securities and Exchange Commission requires
such reimbursement.
4. The Trust represents that a copy of its
Declaration of Trust, dated September 13, 1996, is on file
in the Office of the Secretary of the Commonwealth of
Massachusetts.
5. This Agreement has been executed on behalf of the
Trust by the undersigned officer of the Trust in his or her
capacity as an officer of the Trust. The obligations of
this Agreement shall be binding only upon the assets and
property of the Fund and not upon the assets and property of
any other fund of the Trust.
6. This Agreement may be executed in counterparts,
each of which shall be deemed to be an original, but such
counterparts shall, together, constitute only one
instrument.
IN WITNESS WHEREOF, the parties hereto have executed
this Agreement as of the 6th day of November, 1996.
INSIGHT PREMIER FUNDS,
on behalf of Insight Growth Fund
Attest:
Xxxxx X. XxXxxxxx By: XXXX XXXXX
Attest: INSIGHT MANAGEMENT, INC.
Xxxxx X. XxXxxxxx By: X. XXXXXXXXXX
