Cathy G. O'Kelly
312-608-7657
December 30, 1997
Securities and Exchange Commission
450 Fifth Street, N.W.
Washington, DC 20549
Re: Pacific Innovations Trust
File Nos. 33-14191 and 811-07863
To the Commission:
Enclosed for filing pursuant to Rule 497(e) under the Securities Act of
1933, on behalf of the above-named Registrant, is a supplement to the
prospectus dated September 2, 1997. This supplement is being filed prior
to first use. Please call the undersigned if you have any questions
regarding this filing.
Very truly yours,
/s/Cathy G. O'Kelly
Cathy G. O'Kelly
PACIFIC INNOVATIONS TRUST
Supplement to Prospectus
On page 18, the disclosure regarding the portfolio manager for the
Managed Bond Fund is amended as follows:
"Effective January 1, 1998, William M. Hutchinson (Senior Vice
President), Kristin L. Bradbury (Vice President) and Susan R. Martland
(Vice President) of Scudder Kemper Investments, Inc. ("Scudder Kemper")
will manage the Managed Bond Fund.
The management team is headed by William M. Hutchinson. In addition
to heading the portfolio management team for the Managed Bond Fund, Mr.
Hutchinson is responsible for the portfolio management of domestic
institutional bond portfolios managed in the Boston office of Scudder
Kemper. He is also a senior portfolio manager of Core Fixed Income
portfolios and the product leader for the Limited Volatility (intermediate)
and Long Duration Bond management for Scudder Kemper. Mr. Hutchinson
joined Scudder in 1986 and has managed pension, endowment and mutual fund
portfolios. After three years as a naval officer, Mr. Hutchinson spent 12
years with Connecticut General Life Insurance Company (CIGNA), where he
established a public bond credit research unit and managed institutional
total return bond portfolios. Mr. Hutchinson received a BS from Lehigh
University in 1969 and an MBA from the University of Michigan in 1971.
Kristin L. Bradbury is a portfolio manager in the Bond Group of Scudder
Kemper. Located in the San Francisco office of Scudder Kemper, she has
over ten years of experience in the investment industry. Prior to joining
Scudder in 1993, she was a member of the investment department in a large
West Coast insurance company. Ms. Bradley has portfolio management
responsibility for a number of institutional fixed income accounts. She
received BA degrees in Business Economics and Sociology from the University
of California at Santa Barbara in 1986. In 1989, Ms. Bradley received an
MBA from the University of California at Irvine. She is a Chartered
Financial Analyst and a member of the Security Analysts of San Francisco.
Susan R. Martland has specialized in the management of Limited
Volatility bond portfolios since 1992. She joined Scudder in 1982
following ten years of management experience. Ms. Martland received a BA
from Smith College in 1971 and an MBA from Boston University School of
Management in 1981."
Supplement dated January 1, 1998.
