SUPPLEMENT DATED NOVEMBER 11, 1998 TO THE PROSPECTUS DATED JANUARY 13, 1998
WHICH WAS SUPPLEMENTED ON JUNE 30, 1998
The following informational update supercedes the information set forth on the
cover page of the Fund's Prospectus and in the sections entitled "Fund
Expenses," "The Fund and Its Investment Objectives," and "Investment Policies
and Strategy" of the Fund's Prospectus.
The Emerging Markets Portfolio has commenced investment operations on November
10, 1998. Any references in the Prospectus indicating that "the Emerging Markets
Portfolio has not commenced operation" should be disregarded.
