Brazos Mutual Funds
(Class Y Shares)
Supplement dated February 25, 2000 to the Prospectus dated
December 31, 1999
The second and third bullet points under the column heading
"Designed for:" in the section entitled "Redemption of Shares" on
page 25 of the Prospectus are replaced in their entirety with the
following:
Sales of less than $5,000,000.
Sales of $5,000,000 or more require a signature
guarantee.
The second bullet point under the column heading "Designed
for:" in the section entitled "Redemption of Shares" on page 26 of
the Prospectus is replaced in its entirety with the following:
Sales of less than $5,000,000.
The fourth bullet point under the column heading "Designed
for:" in the section entitled "Redemption of Shares" on page 26 of
the Prospectus is replaced in its entirety with the following:
Requests by phone to sell less than $5,000,000.
The fourth bullet point in the first paragraph under the
heading "Signature Guarantees" on page 26 of the Prospectus is
replaced in its entirety with the following:
redemption requests that are $5,000,000 or more.
