THE MARSICO INVESTMENT FUND
Marsico Focus Fund
Marsico Growth & Income Fund
Marsico 21st Century Fund
Marsico International Opportunities Fund
(each a "Fund" and collectively the "Funds")
Supplement dated November 17, 2000
to the Prospectus and Statement of Additional Information dated June 7, 2000
On November 9, 2000, the Shareholders of the Funds approved a new
investment advisory and management agreement between the Marsico Investment
Fund, on behalf of each Fund, and Marsico Capital Management, LLC ("MCM"). This
approval was necessary in order for MCM to continue to serve as investment
manager of each Fund after consummation of a proposed transaction in which Bank
of America Corporation will increase its ownership of MCM to 100% (the
"Transaction").
The Transaction is expected to close on or about January 2, 2001. At
that time, Bank of America Corporation will have a 100% ownership interest in
MCM. The Transaction will not result in any changes to the way in which the
Funds are managed. The Transaction will not affect the day-to-day operations of
MCM or the investment process it uses in managing the Funds. The Transaction
will not cause any changes to the Funds' investment objective and policies.
Until the date of closing, Bank of America Corporation will continue to have a
50% ownership interest in MCM as set forth at p. 27 of the Statement of
Additional Information under "Investment Advisory and Other Services."
