PLEASE KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS
PURISIMA FUNDS
SUPPLEMENT DATED JUNE 15, 1999 TO PROSPECTUS DATED SEPTEMBER 29, 1998
The disclosure under the caption "ANNUAL OPERATING EXPENSES" on page 2 and 3 in
the Fund's prospectus dated September 29, 1998 is supplemented by the following.
EXAMPLE
You would pay the following expenses on a $1,000 investment in a Fund assuming
(1) a 5% annual return and (2) redemption at the end of each time period.
TOTAL RETURN AMERICAN FOREIGN
FUND FUND FUND
---- ---- ----
One Year $ 15 $ 15 $ 15
Three Years $ 47 $ 47 $ 47
Five Years $ 82 NA NA
Ten Years $178 NA NA
The example assumes that the annual operating expenses of each Fund is limited
to the total shown. The example should not be considered a representation of
past or future expenses. Actual Fund expenses for the Total Return Fund may be
greater or less than those shown. The assumption of a 5% return, as used in the
example above, is required by the Securities and Exchange Commission's
regulations. The 5% assumption is applicable to all mutual funds and does not
represent the projected or actual performance of any Fund.
