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WARBURG PINCUS SMALL COMPANY GROWTH FUND
SUPPLEMENT TO PROSPECTUS DATED FEBRUARY 27, 1998
Effective as of the close of The New York Stock Exchange, Inc. on November 7,
1997 ("Closure"), Warburg Pincus Small Company Growth Fund (the "Fund") was
closed to purchases by certain new investors. The sale of additional Fund shares
is currently limited to the following investors:
- persons who were both beneficial and record owners of Fund shares at
Closure;
- beneficial owners of Fund shares at Closure through accounts maintained by
intermediaries (such as brokerage firms and other industry professionals) by
arrangement with the Fund and/or the Fund's distributor;
- new or existing clients of certain financial advisers and planners who have
at least one client that was a Fund shareholder at Closure, including
financial advisers and planners who invest in the Fund through accounts
maintained by intermediaries (such as brokerage firms and other industry
professionals);
- a retirement plan, which was an owner of Fund shares at Closure, purchasing
Fund shares in the ordinary course of its operations for the benefit of new
or existing plan participants;
- clients of the Fund's investment adviser (the "Adviser"); and
- directors, officers and employees of the Adviser and its affiliates.
Distributions of dividends and capital gains will continue to be reinvested
unless a shareholder elects otherwise. The Fund may reopen in the future
depending on market conditions and other relevant considerations.
Dated: February 27, 1998 WPUSS-16-0298
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WARBURG PINCUS SMALL COMPANY GROWTH FUND
(ADVISOR SHARES)
SUPPLEMENT TO PROSPECTUS DATED FEBRUARY 27, 1998
Effective as of the close of The New York Stock Exchange, Inc. on November 7,
1997 ("Closure"), Warburg Pincus Small Company Growth Fund (the "Fund") was
closed to purchases by certain new investors. The sale of additional Fund shares
is currently limited to the following investors:
- persons who were both beneficial and record owners of Fund shares at
Closure;
- beneficial owners of Fund shares at Closure through accounts maintained by
intermediaries (such as brokerage firms and other industry professionals) by
arrangement with the Fund and/or the Fund's distributor;
- new or existing clients of certain financial advisers and planners who have
at least one client that was a Fund shareholder at Closure, including
financial advisers and planners who invest in the Fund through accounts
maintained by intermediaries (such as brokerage firms and other industry
professionals);
- a retirement plan, which was an owner of Fund shares at Closure, purchasing
Fund shares in the ordinary course of its operations for the benefit of new
or existing plan participants;
- clients of the Fund's investment adviser (the "Adviser"); and
- directors, officers and employees of the Adviser and its affiliates.
Distributions of dividends and capital gains will continue to be reinvested
unless a shareholder elects otherwise. The Fund may reopen in the future
depending on market conditions and other relevant considerations.
Dated: February 27, 1998 ADSCG-16-0298