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Supplement to the CypressTree Senior Floating Rate Fund
March 31, 1998 Prospectus
Effective April 22, 1998, the Fund's investment adviser, CypressTree Asset
Management Corporation, Inc. (CAM), has agreed to reimburse all of the Fund's
expenses through June 30, 1998. The total Fund expenses for that period will be
$0.00. After that date, unless reimbursement of all expenses is further extended
by CAM, the expense cap will revert to the one described on page 3 of the Fund
prospectus.
0498-10028 April 22, 1998
