SUPPLEMENT DATED DECEMBER 18, 2000
TO THE
PROSPECTUS DATED FEBRUARY 23, 2000
IPO PLUS
AFTERMARKET FUND
This supplement to the prospectus reflects changes that affect the IPO Plus
Aftermarket Fund. Sections or paragraphs of the prospectus that contain numerous
changes have been included in their entirety with the specific changes
underlined.
Please keep this supplement with your prospectus.
The IPO Plus Aftermarket Fund
Supplement dated December 18, 2000 to the
Prospectus dated February 23, 2000
The following replaces the information contained in the prospectus on page 4
under "Shareholder Fees" (fees paid directly from your investment) in the
section entitled "Fee Table":
Sales Charge on purchases...................................................None
Sales Charge on Reinvested Dividends....................................None
Deferred Sale Charge........................................................None
Redemption Fee on Shares held 3 months or fewer............................2.00%
The following replaces the information contained in the prospectus on pages 11
and 12 under "Minimum Account Balance" in the section entitled "Shareholder
Information":
The IPO Fund reserves the right to redeem shares held in any account at its
option upon sixty days written notice if the net asset value of the account
falls below $500 for reasons other than market conditions and remains so during
the notice period.
The following replaces the information contained in the prospectus beginning on
page 12 under "Investing in the IPO Fund":
INVESTING IN THE IPO FUND
Shares of the IPO Fund may be purchased directly from the IPO Fund, or through
an account maintained with a securities broker or other financial institution.
Investors may be charged a fee if they effect transactions through a securities
broker or agent.
All purchases must be made in U.S. dollars and checks must be drawn on U.S.
banks. No cash will be accepted. A $20 fee may be charged against an investor's
account for any payment check returned to the Transfer Agent for insufficient
funds, stop payment, closed account or other reasons. The investor will also be
responsible for any losses suffered by the IPO Fund as a result. The IPO Fund
reserves the right to reject any purchase order for IPO Fund shares. No share
certificates will be issued.
The minimum purchase requirements, which may be waived in certain circumstances,
are $2,500 for regular accounts and $500 for IRAs. Additional investments are
$100. Questions about the IPO Fund can be answered by calling toll-free
1-888-476-3863.
Procedure for Purchasing IPO Fund Shares
By Mail
Complete and sign the New Account Application.
The check must be payable to The IPO Fund. Mail to:
The IPO Fund
P.O. Box 2133
Milwaukee, WI 53201-2133
By Courier
Follow instructions above and send to:
The IPO Fund
c/o Sunstone Financial Group, Inc.
803 W. Michigan Street
Suite A
Milwaukee, WI 53233-2301
By Telephone
Telephone transactions can not be used for initial investments.
By Wire
Prior to the wire purchase, you must call 1-888-476-3863 for an investor account
number. At the same time, you must complete a New Account Application, or IRA
application, if applicable. Then wire funds care of:
UMB Bank n.a.:
ABA#: 101000695
For Credit to: Renaissance Funds
A/C# 987-098-4423
For Further Credit To:
Shareholder Account No.: _______________________________
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Shareholder Name: _____________________________________
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Social Security or taxpayer ID #.
By Internet
You may open an account through the
IPO Fund's web site www.IPOhome.com. Please read the section in this supplement
entitled, "Transactions Through www.IPOhome.com" for more complete information
about this feature.
To Add to an Account:
Complete the investment slip that is included in your account statement, and
write your account number on your check. Make the check payable to The IPO Fund
and mail to the address at the left.
If you don't have an investment slip, put the account name, address and IPO
Fund account number on the check.
By Courier:
Follow the instructions above and send to
The IPO Fund
c/o Sunstone Financial Group, Inc.
803 W. Michigan Street
Suite A
Milwaukee, WI 53233-2301
By Telephone:
Call toll-free 1-888-476-3863 to initiate an electronic funds transfer.
Previously established ACH bank account information will be required.
Follow the instructions for wire by mail (above). Please note that wires may be
rejected if they do not contain complete account information.
By Internet:
You can purchase shares in an existing account through the Fund's web site
www.IPOhome.com. To establish Internet transaction privileges, you must enroll
through the web site.
You automatically have the ability to establish internet transaction privileges
unless you decline the privileges on the New Account or IRA Application.
Purchases by Mail or Courier
The New Account Application, if properly filled out and accompanied by a check
made payable to the IPO Fund, will be processed upon receipt by the Transfer
Agent. If the Transfer Agent receives your order and payment by the close of
regular trading (generally 4:00 p.m. Eastern Time) on the New York Stock
Exchange, your shares will be purchased at the net asset value calculated at the
close of regular trading on that day. If received after that time, your shares
will be purchased at the net asset value determined as of the close of regular
trading on the next business day.
Purchases through Financial Service Agents
If you are investing through a Financial Service Agent, please refer to their
program materials for any additional special provisions or fees that may be
different from those described in this Prospectus. Certain Financial Service
Agents may receive compensation from the IPO Fund. The Financial Service Agent
must promise to send to the Transfer Agent immediately available funds in the
amount of the purchase price within one business day from the date of the
trade.
Purchases by Telephone
Only bank accounts held at domestic financial institutions that are Automated
Clearing House (ACH) members can be used for telephone transactions. Telephone
transactions may not be used for initial purchases. Your account must already
have banking information established prior to initiating telephone transactions.
Your shares will be purchased at the net asset value determined as of the close
of regular trading on the date that the Transfer Agent receives your request in
good order. Most transfers are completed within three business days after your
call to place the order. To preserve flexibility, the IPO Fund may revise or
remove the ability to purchase shares by phone, or may charge a fee for such
service, although currently, the IPO Fund does not expect to charge a fee.
The IPO Fund will employ reasonable procedures to confirm that instructions
communicated by telephone are genuine. Such procedures may include requiring
some form of personal identification prior to acting upon telephone
instructions, providing written confirmations of all such transactions, and/or
tape recording all telephone instructions. Assuming procedures such as the above
have been followed, the IPO Fund will not be liable for any loss, cost or
expense for acting upon an investor's telephone instructions or for any
unauthorized telephone redemption. As a result of this policy, the investor will
bear the risk of any loss unless the IPO Fund has failed to follow such
procedure(s).
Purchases by Wire
Prior to the wire purchase you must call 1-888-476-3863 for an investor account
number. At the same time you must also complete a New Account Application, or
IRA Application if applicable. As soon as possible after wiring the money, send
the Application to the IPO Fund. The IPO Fund must receive a properly completed
Application to establish transaction privileges. If the IPO Fund does not
receive your original Application, it may delay payment of redemption proceeds
and withhold taxes. You should contact your bank (which will need to be a
commercial bank that is a member of the Federal Reserve System) for information
on sending funds by wire, including any charges that your bank may make for
these services.
Purchases by Internet
For complete information regarding Internet transactions, please see the section
in this supplement entitled "Transactions Through www.IPOhome.com".
The following replaces the information contained in the prospectus beginning on
page 14 under "Redeeming IPO Fund Shares":
REDEEMING IPO FUND SHARES
You may sell (redeem) your shares at any time. A fee will be charged on the
redemption of shares equal to 2% of the redemption price of shares of the IPO
Fund held 3 months or fewer that are being redeemed. There is no redemption fee
for the sale of shares held longer than 3 months. Shares are considered clear of
the redemption fee once they have passed the trade date plus three months. The
redemption fee will not apply to shares representing the reinvestment of
dividends and capital gains distributions. Reinvested distributions will be sold
first without a fee. The redemption fee will be applied on a share by share
basis using the "first shares in, first shares out" (FIFO) method. Therefore,
the oldest shares are considered to have been sold first. Redemption fee
proceeds will be applied to the IPO Fund's aggregate expenses allocable to
providing custody and redemption services, including transfer agent fees,
postage, printing, telephone costs and employment costs relating to the handling
and processing of redemptions. Any excess fee proceeds will be added to the IPO
Fund's capital. Ordinarily, the IPO Fund makes payment by check for the shares
redeemed within seven days after it receives a properly completed request.
However, the right of redemption may be suspended or payment may be postponed
under unusual circumstances such as when trading on the New York Stock Exchange
is restricted. Payment of redemption proceeds with respect to shares purchased
by check will not be made until the check or payment received has cleared, which
may take up to 10 calendar days from the purchase date.
Payment of the redemption proceeds for shares of the IPO Fund where an investor
requests wire payment will normally be made in federal funds on the next
business day. Written instructions to change or add a wire address require that
signatures for all account holders be guaranteed. The Transfer Agent will wire
redemption proceeds only to the bank and account designated on the New Account
Application or IRA Application or in written instructions subsequently received
by the Transfer Agent, and only if it is a commercial bank and a member of the
Federal Reserve System. The Transfer Agent currently charges a $10 fee for each
payment made by wire of redemption proceeds, which fee will be deducted from the
investor's proceeds.
PROCEDURE FOR REQUESTING REDEMPTION
You may request the sale of your shares by mail, courier, and telephone or
through the Fund's web site www.IPOhome.com, as described
By Mail
The IPO Fund
P.O. Box 2133
Milwaukee, WI 53201-2133
By Courier
The IPO Fund
c/o Sunstone Financial Group, Inc.
803 W. Michigan Street
Suite A
Milwaukee, WI 53233-2301
The selling price of each share being redeemed will be the IPO Fund's per share
net asset value next calculated after receipt of all required documents in good
order. Good order means that the request must include:
? Your IPO Fund account number
? The number of shares or dollar amount to be sold (redeemed)
? The signatures of all account owners exactly as they are registered on the
account ? Any required signature guarantees
? Any supporting legal documentation that is required in the case of estates,
trusts, corporations or partnerships ? In the case of shares being redeemed from
an IRA or Roth IRA Plan, a statement of whether or not federal should be
withheld (in
the absence of
any statement, federal tax will be withheld)
A signature guarantee of each owner is required to redeem shares in the
following situations (I) if you change ownership on your account; (ii) when
you want the redemption proceeds sent to a different address from that
registered on the account; (iii) if the proceeds are to be made payable to
someone other than the account's owner(s); (iv) any redemption transmitted
by federal wire transfer to your bank; and (v) if a change of address
request has been received by the IPO Fund or the Transfer Agent within the
last 30 days. In addition, signature guarantees are required for all
redemptions in excess of $50,000 or more from any shareholder account.
Signature guarantees are designed to protect both you and the IPO Fund from
fraud. Signature guarantees can be obtained from most banks, credit unions or
savings associations, or from broker/dealers, national securities exchanges,
registered securities associations or clearing agencies deemed eligible by the
SEC. Notaries cannot provide signature guarantees.
By Telephone
Shares of the IPO Fund may also be sold by calling the Transfer Agent toll-free
at 1-888-476-3863. To use this procedure for telephone redemption, a shareholder
must have previously elected this procedure in writing, which election will be
reflected in the records of the Transfer Agent, and the redemption proceeds must
be mailed directly to the investor or transmitted to the investor's
pre-designated account at a domestic bank. To change the designated account or
address, a written request with signature(s) guaranteed must be sent to the
Transfer Agent. The IPO Fund reserves the right to limit the number of telephone
redemptions by an investor. Once made, telephone requests may not be modified or
canceled. The selling price of each share being redeemed will be the IPO Fund's
per share net asset value next calculated after receipt by the Transfer Agent of
the telephone redemption request. The IPO Fund will not be liable for following
instructions communicated by telephone that it reasonably believes to be
genuine.
Redemptions Through www.IPOhome.com
You may redeem your shares through the IPO Fund's web site www.IPOhome.com. To
establish Internet transaction privileges you must enroll through the web site.
You automatically have the ability to establish Internet transaction privileges
unless you decline to have them on your New Account Application. For complete
information regarding Internet transactions, please see the section below
entitled "Transactions Through www.IPOhome.com."
Transactions through www.IPOhome.com
You may purchase and redeem IPO Fund shares through the IPO Fund's web site
www.IPOhome.com. You may establish Internet transaction privileges by enrolling
through the web site. You automatically have the ability to establish Internet
transaction privileges unless you decline the privileges on your New Account
Application. You will be required to enter into a user's agreement through the
web site in order to enroll in these privileges. In order to conduct Internet
transactions, you must have telephone transaction privileges. To purchase shares
through the web site you must also have ACH instructions on your account. If you
open your account through the web site, then any redemption proceeds will only
be sent to you via ACH or wire to the account from which the initial proceeds
were drawn. Otherwise, redemption proceeds may be sent to you by check, or, if
your account has bank information, by wire or ACH.
Payment for purchases of IPO Fund shares through the web site may be made only
through an ACH debit of your bank account. Redemptions will be paid by check,
wire, or ACH transfer only to the address or bank account of record. Redemptions
from accounts established through the IPO Fund's web site will be paid only to
the bank account of record. Only bank accounts held at domestic financial
institutions that are ACH members can be used for transactions through the
Fund's web site. The IPO Fund imposes a limit of $50,000 on purchase and
redemption transactions through the web site. Transactions through the web site
are subject to the same minimums as other transaction methods.
You should be aware that the Internet is an unsecured, unstable, unregulated and
unpredictable environment. Your ability to use the web site for transactions is
dependent upon the Internet and equipment, software, systems, data and services
provided by various vendors and third parties. While the IPO Fund and its
service providers have established certain security procedures, the IPO Fund,
its distributor and its Transfer Agent cannot assure you that trading
information will be completely secure.
There may also be delays, malfunctions, or other inconveniences generally
associated with this medium. There also may be times when the web site is
unavailable for Fund transactions or other purposes. Should this happen, you
should consider purchasing or redeeming shares by another method. Neither the
Fund nor its Transfer Agent, distributor or Advisor will be liable for any such
delays or malfunctions or unauthorized interception or access to communications
or account information.
The following replaces the information contained in the prospectus beginning on
page 16 under "Dividend and Capital Gain Distributions",
Dividend and Capital Gain Distributions
The IPO Fund intends to pay dividends from net investment income and net
realized capital gains (not offset by capital loss carryovers) on an annual
basis in December. Investors may elect to reinvest all income dividends and
capital gain distributions in shares of the IPO Fund or in cash as designated on
the New Account Application. If the investor does not specify an election, all
income dividends and capital gains distributions will automatically be
reinvested in full and fractional shares of the IPO Fund, which will be
calculated to the nearest 1000th of a share. Shares will be purchased at the per
share net asset value in effect on the business day after the dividend record
date and will be credited to the investor's account on such date. Reinvested
dividends and distributions receive the same tax treatment as those paid in
cash.
As an IPO Fund shareholder, you may change your election at any time by sending
written notification to the IPO Fund, P.O. Box 2133, Milwaukee, WI 53201-2133.
The election is effective for distributions with a dividend record date on or
after the date that the transfer agent receives notice of the election. In
addition, if you elect to have Internet account access, you may change your
election though the IPO Fund's web site www.IPOhome.com.
The following supplements the information contained in the prospectus:
SHAREHOLDER COMMUNICATIONS
Account Statements
As an IPO Fund shareholder, will receive quarterly account statements. You will
also receive calendar year-end statements that detail the tax characteristics of
any dividends or capital gains that have been distributed.
REGULATORY MAILINGS
Financial reports will be sent at least semiannually. The IPO Fund's annual
report will include audited financial statements.
As an IPO Fund shareholder, you will be sent account statements and regulatory
mailings in paper format unless you request to receive account statements and/or
regulatory mailings in electronic format. You may elect to receive electronic
format by registering for this feature on the Fund's web site www.IPOhome.com.
The following replaces the information contained in the prospectus on page 20
contained in the section entitled "Obtaining Information":
You may obtain the SAI and annual and semiannual reports without charge by
calling toll-free 1-888-476-3863 or by writing to the IPO Plus Fund, P.O. Box
2133, Milwaukee, WI 53201-2133. You may review this information at the Public
Reference Room of the SEC, Washington D.C. 20549-6009 or by visiting the SEC's
World Wide Web site at http://www.sec.gov. You can obtain information about the
operations of the SEC's Public Reference Room by calling 1-800-SEC-0330.
The following replaces the information contained in the prospectus on page 20
contained in the section entitled "Custodian, Transfer and Dividend Disbursing
Agent":
TRANSFER AND DIVIDEND DISBURSING AGENT
Sunstone Financial Group, Inc., which has its headquarters at 803 W. Michigan
Street, Suite A, Milwaukee, WI 53233, serves as the
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IPO Fund's Transfer and Dividend Disbursing Agent.
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CUSTODIAN
UMB Bank n.a. which has its principal custodial address at 928 Grand Boulevard,
10th Floor, Kansas City, MO, 64106, acts as Custodian for the IPO Fund's
investments.
