TIP FUNDS

                   Turner Core High Quality Fixed Income Fund

                         Supplement dated August 1, 1999

                        To Prospectus dated July 1, 1999

THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS AND SHOULD BE READ IN CONJUNCTION WITH THE PROSPECTUS.

     Under the heading "Dividends and Distributions" on page 29 of the
prospectus, the first sentence has been deleted and replaced to read as follows:

     The Turner Growth Equity Fund distributes its investment income quarterly
     as a dividend to shareholders. The Turner Core High Quality Fixed Income
     Fund declares its investment income daily and distributes it monthly as
     a dividend to shareholders.


               PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.


TUR-A-026-03000



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