TIP FUNDS
TURNER SELECT GROWTH EQUITY FUND
SUPPLEMENT DATED DECEMBER 20, 2000
TO THE STATEMENT OF ADDITIONAL INFORMATION DATED JUNE 30, 2000
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT WHICH IS
CONTAINED IN THE STATEMENT OF ADDITIONAL INFORMATION.
-------------------------------------------------------------
On page 5, under the heading "Turner Select Growth Equity Fund," replace the 4th
and 5th sentences with the following sentence:
Portfolio exposure is generally limited to 5% of assets in any single
issuer, subject to exceptions for the most heavily weighted securities in the
Russell Top 200 Growth Index.
On page 18, under the heading "Non-Diversification," replace the 1st sentence
with the following sentence:
The Target Select, Top 20 and Select Growth Equity Funds are
non-diversified companies, as defined in the 1940 Act, which means that a
relatively high percentage of assets of each Fund may be invested in the
obligations of a limited number of issuers.
The table on page 29 should read as follows for the B2B E Commerce and Wireless
& Communications Funds:
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------------------
REQUIRED BASE HIGHEST LOWEST
EXCESS ADVISORY POSSIBLE POSSIBLE
FUND BENCHMARK PERFORMANCE FEE ADVISORY FEE ADVISORY FEE
-----------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
B2B E- PSE +/- 2.5% 1.10% 1.50% .70%
Commerce Fund Technology Index
-----------------------------------------------------------------------------------------------------------------------
Wireless & PSE +/- 2.5% 1.10% 1.50% 70%
Communication Technology
Fund Index
-----------------------------------------------------------------------------------------------------------------------
</TABLE>
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
TUR-B-025-04
TIP FUNDS
TURNER SELECT GROWTH EQUITY FUND
SUPPLEMENT DATED DECEMBER 20, 2000
TO THE PROSPECTUS DATED JUNE 14, 2000
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT WHICH IS
CONTAINED IN THE PROSPECTUS.
--------------------------------------------------------------------------------
On page 1, under the heading "Principal Strategy," replace the 4th and 5th
sentences with the following sentence:
Portfolio exposure is generally limited to 5% of assets in any single
issuer, subject to exceptions for the most heavily weighted securities in the
Russell Top 200 Growth Index.
-------------------------------------------------------------
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
