NEWCAP CONTRARIAN FUND
(FORMERLY MAXIM CONTRARIAN FUND)
SUPPLEMENT DATED OCTOBER 15, 1997
TO
PROSPECTUS DATED DECEMBER 24, 1996
Effective September 26, 1997, the name of the MAXIM Contrarian Fund was
changed to the NewCap Contrarian Fund. In addition, the Fund's toll free
telephone number for information and shareholder services and requests has been
changed to 1-800-466-7678, and the address of American Data Services, the Fund's
transfer agent, has been changed to P.O. Box 5536, Hauppauge, New York
11788-0132.
The following should be read in conjunction with the section titled
"How to Invest in the Fund" on page 4 of the Prospectus and "How to Redeem
Shares" on page 6 of the Prospectus:
Investors choosing to purchase or redeem their shares
through a securities dealer or broker/dealer may be charged a
fee by that institution. Investors choosing to purchase or
redeem shares directly from the Fund will not incur charges on
purchases or redemptions.
ASA02CDE-100897-2
