HARRIS INSIGHT(R) FUNDS
HARRIS INSIGHT EQUITY FUNDS
HARRIS INSIGHT FIXED INCOME FUNDS
HARRIS INSIGHT MONEY MARKET FUNDS
Class A Shares
AMENDMENT TO PROSPECTUS DATED NOVEMBER 14, 1997
This Prospectus offers Class A Shares of seventeen investment portfolios advised
by Harris Trust and Savings Bank (collectively, the "Funds"), and consists of
this amendment and the attached Prospectus relating to Class A Shares of the
Funds dated May 1, 1997 as previously supplemented (the "May Prospectus"), which
is incorporated herein. The information in the May Prospectus is amended as
follows:
The following financial highlights, which are to be inserted as part of the
section entitled "Financial Highlights" beginning on page 10 of the May
Prospectus, represent selected data for a single Class A Share of each of the
Balanced Fund, the Convertible Securities Fund and the Intermediate Government
Bond Fund for the periods shown. This data supplements information contained in
the May Prospectus and is derived from the financial statements of the Funds for
the periods ended June 30, 1997.
<TABLE>
<CAPTION>
CONVERTIBLE INTERMEDIATE
BALANCED FUND SECURITIES FUND GOVERNMENT BOND FUND
----------------------- ----------------------- -----------------------
FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD
04/16/97(6) 03/26/97(6) 04/16/97(6)
TO 06/30/97 TO 06/30/97 TO 06/30/97
----------------------- ----------------------- -----------------------
(UNAUDITED) (UNAUDITED) (UNAUDITED)
<S> <C> <C> <C>
Net Asset Value, Beginning of Period....... $12.56 $29.30 $16.06
----------------------- ----------------------- -----------------------
INCOME FROM INVESTMENT OPERATIONS:
Net Investment Income...................... 0.118 0.290 0.213
Net Realized and Unrealized Gain/(Loss)
on Investments........................ 1.024 0.745 0.170
----------------------- ----------------------- -----------------------
Total from Investment Operations........... 1.142 1.035 0.383
----------------------- ----------------------- -----------------------
LESS DISTRIBUTIONS:
Net Investment Income...................... (0.112) (0.285) (0.213)
----------------------- ----------------------- -----------------------
Total Distributions........................ (0.112) (0.285) (0.213)
----------------------- ----------------------- -----------------------
Net Asset Value, End of Period............. $13.59 $30.05 $16.23
======================= ======================= =======================
TOTAL RETURN(3)(4)......................... 9.09% 3.53% 2.39%
RATIOS/SUPPLEMENTAL DATA:
Net Assets, End of Period ($000)........... 1 12 26
Ratios of Expenses to
Average Net Assets(1)(2).............. 1.13% 1.17% 0.75%
Ratio of Net Investment Income
to Average Net Assets(2).............. 3.18% 4.02% 6.20%
Portfolio Turnover Rate.................... 42.67% 21.33% 32.89%
Average Commission Rate(5)................. $0.059 $0.060 --
</TABLE>
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(1)Without the voluntary waiver of fees, the annualized expense ratios for the
periods ended June 30, 1997 for the Convertible Securities Fund and the
Intermediate Government Bond Fund would have 1.18% and 1.12%, respectively.
(2)Annualized.
(3)Total returns for periods less than one year are not annualized.
(4)Sales load is not reflected in total return.
(5)Computed by dividing the total amount of commission paid by the total number
of shares purchased and sold during the period.
(6)Date commenced operations.
HARRIS INSIGHT(R) FUNDS
HARRIS INSIGHT EQUITY FUNDS
HARRIS INSIGHT FIXED INCOME FUNDS
HARRIS INSIGHT MONEY MARKET FUNDS
Institutional Shares
AMENDMENT TO PROSPECTUS DATED NOVEMBER 14, 1997
This Prospectus offers Institutional Shares of seventeen investment portfolios
advised by Harris Trust and Savings Bank (collectively, the "Funds"), and
consists of this amendment and the attached Prospectus relating to Institutional
Shares of the Funds dated May 1, 1997 as previously supplemented (the "May
Prospectus"), which is incorporated herein. The information in the May
Prospectus is amended as follows:
The following financial highlights, which are to be inserted as part of the
section entitled "Financial Highlights" beginning on page 10 of the May
Prospectus, represent selected data for a single Institutional Share of each of
the Balanced Fund, the Convertible Securities Fund, the Intermediate Government
Bond Fund and Small-Cap Value Fund for the periods shown. This data supplements
information contained in the May Prospectus and is derived from the financial
statements of the Funds for the periods ended June 30, 1997.
<TABLE>
<CAPTION>
INTERMEDIATE
CONVERTIBLE GOVERNMENT BOND SMALL-CAP
BALANCED FUND SECURITIES FUND FUND VALUE FUND
---------------- ---------------- ----------------- -----------------
FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD FOR THE PERIOD
03/24/97(6) 03/24/97(6) 03/24/97(6) 03/24/97(6)
TO 06/30/97 TO 06/30/97 TO 06/30/97 TO 06/30/97
---------------- ---------------- ----------------- -----------------
(UNAUDITED) (UNAUDITED) (UNAUDITED) (UNAUDITED)
<S> <C> <C> <C> <C>
Net Asset Value, Beginning of Period..... $12.74 $29.15 $16.12 $28.29
---------------- ---------------- ----------------- -----------------
INCOME FROM INVESTMENT OPERATIONS:
Net Investment Income.................... 0.123 0.348 0.283 0.070
Net Realized and Unrealized Gain/(Loss)
on Investments...................... 0.844 0.868 0.110 3.099
---------------- ---------------- ----------------- -----------------
Total from Investment Operations......... 0.967 1.216 0.393 3.169
---------------- ---------------- ----------------- -----------------
LESS DISTRIBUTIONS:
Net Investment Income.................... (0.117) (0.316) (0.283) (0.059)
---------------- ---------------- ----------------- -----------------
Total Distributions...................... (0.117) (0.316) (0.283) (0.059)
---------------- ---------------- ----------------- -----------------
Net Asset Value, End of Period........... $13.59 $30.05 $16.23 $31.40
================ ================ ================= =================
TOTAL RETURN(3)(4)....................... 7.58% 4.17% 2.46% 11.20%
RATIOS/SUPPLEMENTAL DATA:
Net Assets, End of Period ($000)......... 60,440 58,087 91,161 60,986
Ratios of Expenses to
Average Net Assets(1)(2)............ 0.88% 0.92% 0.50% 0.99%
Ratio of Net Investment Income
to Average Net Assets(2)............ 3.43% 4.27% 6.45% 0.95%
Portfolio Turnover Rate.................. 42.67% 21.33% 32.89% 23.09%
Average Commission Rate(5)............... $0.059 $0.060 -- $0.054
</TABLE>
- --------------
(1) Without the voluntary waiver of fees, the annualized expense ratios for the
periods ended June 30, 1997 for the Convertible Securities Fund, the
Intermediate Government Bond Fund and the Small-Cap Value Fund would have
been 0.93%, 0.87% and 1.03, respectively.
(2) Annualized.
(3) Total returns for periods less than one year are not annualized.
(4) Sales load is not reflected in total return.
(5) Computed by dividing the total amount of commission paid by the total
number of shares purchased and sold during the period.
(6) Date commenced operations.
