FTI FUNDS
fti municipal bond fund
fti bond fund
fti large capitalization growth fund
fti large capitalization growth and income fund
fti small capitalization equity fund
fti international equity fund
SUPPLEMENT TO COMBINED PROSPECTUS DATED MARCH 31, 2000
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The following information is a supplement to your combined Prospectus. We
are providing this information to advise you of changes to the investment team
responsible for management of the FTI SMALL CAPITALIZATION EQUITY FUND. This
change is effective immediately.
FTI SMALL CAPITALIZATION EQUITY FUND
Please delete the paragraph entitled "Small Capitalization Equity Fund"
beginning on page 51 of the combined prospectus and replace it with the
following:
Susan McGarry and Karen C. Fang are primarily responsible for the
day-to-day investment management of the Small Capitalization Equity Fund. Ms.
McGarry, Senior Vice President of FTCI, is a manager of smaller capitalization
equity portfolios and is responsible for research on smaller capitalization
stocks. Ms. McGarry received a B.A. in history from Yale College in 1983 and an
M.P.P.M. from the Yale School of Management in 1990. She joined FTCI in 1995 to
become the firm's first dedicated small cap research analyst and assumed
portfolio management responsibilities in 1996 while continuing to conduct
research for the firm. Prior to coming to FTCI, Ms. McGarry worked for eight
years at Lehman Brothers in the Global Asset Management and Corporate Finance
divisions. Ms. Fang, Senior Vice President of FTCI, is responsible for managing
U.S. growth equity portfolios for institutional and individual portfolios. She
received a B.A. from Mount Holyoke College in 1980 and an M.B.A. from Columbia
University in 1983. She joined FTCI in 1993 and assumed portfolio management
responsibilities in 2000. Prior to joining FTCI in 1993, she was with The Bank
of Tokyo for three years, focusing on derivative products, and with J. Henry
Schroder Bank Trust Co. for five years in the Capital Markets Group.
September 18, 2000
Edgewood Services, Inc., Distributor
CUSIP 302927504 MBF CUSIP 302927603 BF CUSIP 302927702 LCGF CUSIP 302927801
LCGIF CUSIP 302927108 SCEF CUSIP 302927207 IEF 25857 (9/00)
