CONSECO FUND GROUP
Conseco 20 Fund
Conseco Equity Fund
Conseco Balanced Fund
Conseco Convertible Securities Fund
Conseco High Yield Fund
Conseco Fixed Income Fund
Supplement Dated May 22, 2000
to the Prospectus for Classes A, B, C and Y Shares
dated April 13, 2000
The following Expense Example for Class A shares replaces the existing
Expense Example for the Class A shares located on page 20 of the Conseco Fund
Group, Classes A, B, C and Y prospectus dated April 13, 2000.
Expense Examples
Class A Shares
<TABLE>
<CAPTION>
1 Year 3 Years* 5 Years* 10 Years*
<S> <C> <C> <C> <C>
Conseco 20 Fund $733 $1,050 $1,388 $2,335
Conseco Equity Fund $716 $1,026 $1,357 $2,286
Conseco Balanced Fund $716 $1,137 $1,581 $2,802
Conseco Convertible Securities Fund $721 $1,084 $1,470 $2,542
Conseco High Yield Fund $707 $1,017 $1,348 $2,278
Conseco Fixed Income Fund $619 $931 $1,264 $2,201
</TABLE>
* The examples for 3, 5 and 10 years do not take into account the expense
waiver/reimbursement described above. Under the reimbursement arrangement, your
cost for the 3, 5 and 10 periods would be lower.
The following sentences are added on the inside of the back cover.
Thanks for taking the time to carefully review this prospectus. To begin
investing in the Conseco Fund Group family of mutual funds, please fill out the
enclosed application. If you need an additional prospectus, you may contact the
shareholder services line at 800-986-3384.
