SUPPLEMENT DATED MAY 19, 1998
TO THE PROSPECTUS DATED MAY 1, 1998 OF
WEISS, PECK & GREER, L.L.C.
MUTUAL FUNDS
WPG Government Money Market Fund
WPG Tax Free Money Market Fund
WPG Intermediate Municipal Bond Fund
WPG Core Bond Fund
WPG Growth and Income Fund
WPG Tudor Fund
Weiss, Peck & Greer International Fund
WPG Growth Fund
WPG Quantitative Equity Fund
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The Managing Directors of Weiss, Peck & Greer, L.L.C., the Funds'
investment adviser ("WPG"), have entered into an agreement with Robeco Group
N.V. ("Robeco") pursuant to which WPG will become a wholly owned subsidiary of
Robeco. The transaction is expected to close in August, 1998, subject to the
satisfaction or waiver of certain conditions.
Founded in 1929, Robeco is one of the world's oldest asset management
organizations and advisers to investment funds. Robeco is headquartered in
Rotterdam, the Netherlands and currently has approximately 1,250 employees
worldwide. As of May 1, 1998, Robeco and its affiliate, RoProperty
Services, B.V., had approximately $70 billion in assets under management of
which $51 billion was managed by Robeco. Robeco is 50% owned by Rabobank Group,
the only commercial bank in the world currently rated AAA by all four major
rating agencies. Rabobank Group is a cooperative bank that is owned by a large
number of local banks in the Netherlands. The remaining 50% interest in Robeco
is owned indirectly by the shareholders of various investment funds advised by
Robeco.
The Funds' Boards of Trustees met on May 19, 1998 to consider various
matters in connection with the proposed acquisition and to call special meetings
of the Funds' shareholders. The Trustees voted unanimously to approve, and to
recommend to each Fund's shareholders that they approve, the continued
investment advisory relationship of each Fund with WPG, pursuant to new
investment advisory agreements to be submitted to the Funds' shareholders at the
special shareholder meetings to be held on July 29, 1998. In addition to
the approval of new investment advisory agreements with WPG, shareholders will
be asked to approve other matters described in a proxy statement. The proxy
statement is expected to be mailed to shareholders in the beginning of June,
1998. Shareholders of record on June 1, 1998 will be entitled to vote
their shares at the special meeting of shareholders for their Fund. NONE OF THE
PROPOSALS TO BE SUBMITTED AT THE SPECIAL MEETINGS OF SHAREHOLDERS WILL REQUEST
AN INCREASE IN THE RATE OF ANY FUND'S INVESTMENT ADVISORY FEE. FURTHER, THE
PROPOSED TRANSACTION IS NOT EXPECTED TO RESULT IN A CHANGE IN ANY FUND'S
PORTFOLIO MANAGER.
Should you have any questions regarding the proposed transaction,
please call WPG at 1-800-223- 3332.
