PURISIMA FUNDS
Supplement dated January 4, 2001 to the
Purisima Funds Prospectus dated December 29, 2000
THE FOLLOWING TABLE REPLACES THE ONE FOUND ON PAGE 8:
FEES AND EXPENSES
SHAREHOLDER FEES(1)
(FEES PAID DIRECTLY FROM YOUR INVESTMENT)
<TABLE>
<CAPTION>
Pure Pure
Total Return American Foreign
Fund Fund Fund
---- ---- ----
<S> <C> <C> <C>
Maximum sales charge (load) imposed on
purchases (AS A PERCENTAGE OF OFFERING PRICE) None None None
Maximum deferred sales charge (load)
(AS A PERCENTAGE OF THE LOWER OF ORIGINAL
PURCHASE PRICE OR REDEMPTION PROCEEDS) None None None
ANNUAL FUND OPERATING EXPENSES
(EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS)
Pure Pure
Total Return American Foreign
Fund Fund Fund
---- ---- ----
Management Fees 1.00% 1.50%(2) 1.50%(2)
Distribution 12b-1 Fees 0.25% None None
Other Expenses 0.37% None None
----- ----- -----
Total Annual Fund
Operating Expenses 1.62% 1.50% 1.50%
----- ----- -----
Fee Reduction and/or
Expense Reimbursement (0.12%) None None
----- ----- -----
Net Expenses 1.50%(3) 1.50%(2) 1.50%(2)
----- ----- -----
</TABLE>
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(1) A fee of $15.00 is charged for each wire redemption.
(2) The Management Fee for the Pure American and Pure Foreign Funds compensates
the Adviser for advisory services and other ordinary operating expenses of
the Funds, for which the Adviser is responsible. CURRENTLY, THE ADVISER IS
VOLUNTARILY REDUCING THE ENTIRE MANAGEMENT FEE TO 0% FOR THE PURE AMERICAN
AND PURE FOREIGN FUNDS. This voluntary reduction may be discontinued at any
time.
(3) The Adviser is contractually obligated to limit the Total Return Fund's
expenses to 1.50%. The contract has a rolling 10-year term.
