THE LIPPER FUNDS, INC.
Lipper High Income Bond Fund
PROSPECTUS SUPPLEMENT
October 14, 1999
The sections of the Fund's Prospectus dated June 30, 1999 entitled
"RISK/RETURN SUMMARY-Fees and Expenses of the Fund," "SHAREHOLDER
INFORMATION-Other Redemption Information" and "SHAREHOLDER INFORMATION-Other
Exchange Information" is supplemented as follows.
REDEMPTION AND EXCHANGE FEE
Effective January 1, 2000, the Fund will impose a 1.00% fee (short-term
trading fee) on Fund shares purchased on or after January 1, 2000 and redeemed
or exchanged 30 days or less from the date of purchase. The fee is based on the
shares' net asset value at redemption or exchange and is deducted from either
the redemption proceeds or the amount exchanged. The fee is paid to the Fund to
offset costs associated with short-term shareholder trading. It does not apply
to shares acquired through reinvestment of distributions. So as not to penalize
long-term investors, and for purposes of computing the short-term trading fee,
any shares purchased through reinvestment of distributions will be redeemed
first without charging the fee, followed by the shares held for the longest
period of time.
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THE LIPPER FUNDS, INC.
Lipper Prime Europe Equity Fund
PROSPECTUS
October 14, 1999
The sections of the Fund's Prospectus dated June 30, 1999 entitled
"RISK/RETURN SUMMARY-Fees and Expenses of the Fund," "SHAREHOLDER
INFORMATION-Other Redemption Information" and "SHAREHOLDER INFORMATION-Other
Exchange Information" is supplemented as follows.
REDEMPTION AND EXCHANGE FEE
Effective January 1, 2000, the Fund will impose a 1.00% fee (short-term
trading fee) on Fund shares purchased on or after January 1, 2000 and redeemed
or exchanged 30 days or less from the date of purchase. The fee is based on the
shares' net asset value at redemption or exchange and is deducted from either
the redemption proceeds or the amount exchanged. The fee is paid to the Fund to
offset costs associated with short-term shareholder trading. It does not apply
to shares acquired through reinvestment of distributions. So as not to penalize
long-term investors, and for purposes of computing the short-term trading fee,
any shares purchased through reinvestment of distributions will be redeemed
first without charging the fee, followed by the shares held for the longest
period of time.
<PAGE>
THE LIPPER FUNDS, INC.
Lipper U.S. Equity Fund
PROSPECTUS SUPPLEMENT
October 14, 1999
The sections of the Fund's Prospectus dated April 30, 1999 entitled
"RISK/RETURN SUMMARY-Fees and Expenses of the Fund," "SHAREHOLDER
INFORMATION-Other Redemption Information" and "SHAREHOLDER INFORMATION-Other
Exchange Information" is supplemented as follows.
REDEMPTION AND EXCHANGE FEE
Effective January 1, 2000, the Fund will impose a 1.00% fee (short-term
trading fee) on Fund shares purchased on or after January 1, 2000 and redeemed
or exchanged 30 days or less from the date of purchase. The fee is based on the
shares' net asset value at redemption or exchange and is deducted from either
the redemption proceeds or the amount exchanged. The fee is paid to the Fund to
offset costs associated with short-term shareholder trading. It does not apply
to shares acquired through reinvestment of distributions. So as not to penalize
long-term investors, and for purposes of computing the short-term trading fee,
any shares purchased through reinvestment of distributions will be redeemed
first without charging the fee, followed by the shares held for the longest
period of time.
