<PAGE>
497(e)
File Nos. 333-16093 and 811-0792
CNI CHARTER FUNDS
MONEY MARKET FUND
Institutional Class
Supplement dated October 21, 1999
to the Prospectus dated May 10, 1999
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT WHICH IS
CONTAINED IN THE PROSPECTUS. PLEASE KEEP THIS SUPPLEMENT AND READ IT TOGETHER
WITH THE PROSPECTUS.
I. Under the heading "ACCOUNT POLICIES", on page 10 of the prospectus,
the paragraph entitled "When Shares Are Priced" has been deleted and replaced
with the following:
WHEN SHARES ARE PRICED - NAV calculations are made once each day,
usually by 4:30 p.m. Eastern time. Shares may be purchased on any day
that the New York Stock Exchange and the Federal Reserve are open for
business. Shares, however, cannot be purchased by Federal Reserve wire
on days when either the New York Stock Exchange or the Federal Reserve
is closed.
II. Under the heading, "UNDERSTANDING EARNINGS AND TAXES" on page 11 of
the prospectus, the paragraph entitled "When Do Dividends Accrue" has been
deleted and replaced with the following:
WHEN DO DIVIDENDS ACCRUE - Your dividends begin to accrue on the day of
purchase for shares bought before 4:30 p.m. Eastern time. They begin to accrue
on the following day for shares purchased after 4:30 p.m. Eastern time. You will
not be credited with dividends for shares on the day you sell them.
III. Under the heading "HOW TO BUY AND SELL SHARES", on page 12 of the
prospectus, the second paragraph under "When Orders Will Be Completed" has been
deleted and replaced with the following:
If we receive your purchase order through your financial
institution, before 4:30 p.m. Eastern time, the order will be executed that
same day. Orders received after 4:30 p.m. Eastern time will be executed the
following business day. Your shares will be bought, only after we receive a
properly completed order with full payment.
PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE.
CNI-A-001-01
<PAGE>
497(e)
File Nos. 333-16093 and 811-0792
CNI CHARTER FUNDS
CNI CHARTER MONEY MARKET FUND
Supplement dated October 21, 1999
to the Statement of Additional Information dated May 10, 1999
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT WHICH IS
CONTAINED IN THE STATEMENT OF ADDITIONAL INFORMATION. PLEASE KEEP THIS
SUPPLEMENT AND READ IT TOGETHER WITH THE STATEMENT OF ADDITIONAL INFORMATION.
I. Under the heading "Distributions", on page 17 of the Statement of
Additional Information, the first sentence of the first paragraph has been
deleted and replaced with the following:
On each day that the Fund's net asset value per share is determined
(each a "Business Day"), the Fund's net investment income will be declared, as a
dividend to shareholders of record as of the last calculation of net asset value
prior to the declaration and to shareholders investing on that day subject to
the following conditions: (1) receipt of the purchase order by the Transfer
Agent before 4:30 p.m. Eastern time; and (2) payment in immediately available
funds wired to the Transfer Agent by the same time.
PLEASE KEEP THIS SUPPLEMENT FOR FUTURE REFERENCE.
