KOBREN INSIGHT FUNDS
KOBREN DELPHI VALUE FUND
Supplement dated May 4, 1999
To
Prospectus dated December 17, 1998
Effective May 4, 1999, the expenses of the Kobren Delphi Value
Fund (the "fund") will include a portion of the fees associated
with the fund's participation in various network programs. The
fees and expenses table, which describes the estimated fees and
expenses that you may pay if you buy and hold shares of the fund,
shown on page four of the fund's prospectus is amended to read as
follows:
For year ended 12/31/99 Retail Class Institutional Class
Shareholder fees
(fees paid directly from your investment)
Maximum sales charge (load) imposed on purchases None None
Maximum deferred sales charge (load) None None
Redemption fee None None
Exchange fee None None
Annual fund operating expenses
(expenses that are deducted from fund assets)
Management fees 1.00% 1.00%
Distribution (12b-1) and/or service fees 0.25% None
Other expenses 0.43% 0.40%
Total annual fund operating expenses 1.68% 1.40%
This example is intended to help you compare the cost of
investing in the fund with the cost of investing in other mutual
funds. The example assumes that:
You invest $10,000 in the fund for the time periods
indicated;
Your investment has a 5% return each year;
The fund's operating expenses remain the same; and
You redeem your investment at the end of each period.
Although your actual costs may be higher or lower, under these
assumptions your costs would be:
Retail Class Institutional Class
1 year $171 $143
3 years $530 $443
As a result of the revised fees and expenses estimates, the Delphi
Management, Inc. average annual total returns shown on page six
of the fund's prospectus would be reduced by up to 0.26%.
