TIP FUNDS
Turner Growth Equity Fund
Supplement dated March 31, 2000
to the Prospectus dated January 31, 2000
This supplement provides new and additional information beyond that contained in
the Prospectus and should be read in conjunction with the Prospectus.
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A Special Meeting of the shareholders of the Turner Growth Equity Fund has been
scheduled for May 22, 2000. At the Special Meeting, shareholders will be asked
to vote on a proposed reorganization of the Turner Growth Equity Fund into the
Vanguard Growth Equity Fund. If you are a shareholder of record as of March 31,
2000 (the "Record Date"), you will be eligible to vote at the Special Meeting.
If you become a shareholder after the Record Date, you will not be eligible to
vote at the Meeting. All shareholders of record as of the Record Date will
receive a proxy statement relating to the proposed reorganization.
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
