Rule 497(e)
SEC File No. 333-23459
SUPPLEMENT DATED SEPTEMBER 27, 1999
to the Prospectus of The Amerigo Fund and The Clermont Fund Class C dated
August 31, 1999.
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The prospectus is amended as follows:
On page 16 of the prospectus, the "Example" expenses for The Clermont Fund Class
C shares are as follows:
your cost of investing in the fund would be:
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
Class C $321 $1,111 $2,016 $4,334
You would pay the following expenses if you did not redeem your shares:
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
Class C $218 $1,111 $2,016 $4,334
Of course, your actual cost may be higher or lower.
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On page 21 of the prospectus, the "Who Manages the Fund" section should include
the following paragraph after the "Management Fees" section:
DISTRIBUTOR. CLS Distributors, Inc. (the "distributor"), 14747 California
Street, Omaha, NE 68154-1979, an affiliate of the manager, serves as the
distributor of the shares of the funds.
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On page 31 of the prospectus, the "Systematic Withdrawal" section should be
amended as follows:
SYSTEMATIC WITHDRAWAL PROGRAM. This program allows you to automatically
sell your shares and receive regular distributions of $100 or more from
your account. You must either own or purchase shares having a value of at
least $10,000 and advise the Trust in writing of the amount to be
distributed and the desired frequency, i.e., monthly, quarterly, or
annually. To sign up, complete the appropriate section of your New Account
Application. You should realize that if withdrawals exceed income
dividends, the invested principal may be depleted.
If you have purchased Class C shares, withdrawals under this program from
your account will be subject to any CDSC that applies, with the following
exceptions. No CDSC will be charged on withdrawals:
o that involve a distribution from an IRA or other qualified retirement
plan after attaining age 591/2; or
o in an amount that does not exceed 10% annually of the "initial account
value" -i.e., the value of your account at the time you elect to
participate in this program, and thereafter, the value of your account
as of the first day of any calendar year.
You may make additional investments and may change or stop the program at
any time. There is no charge for this program.
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SUPPLEMENT DATED SEPTEMBER 27, 1999
to the Prospectus of The Amerigo Fund and The Clermont Fund Class N dated
August 31, 1999.
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The prospectus is amended as follows:
On page 27 of the prospectus, the "Financial Highlights" should include the
following paragraph:
The financial highlights tables are intended to help you understand the
funds' financial performance for the past 2 years. Certain information
reflects financial results for a single fund share. The total returns in
the table represent the rate that an investor would have earned (or lost)
on an investment in the funds (assuming reinvestment of all dividend and
distributions). This information has been audited by KPMG LLP, independent
auditors, whose report, along with the funds' financial statements, are
included in the annual report, which is available upon request.
