Rule 497(d)
Reg. No. 333-47467
THE NEVIS FUND, INC.
Supplement dated November 15, 1999
to the Prospectus dated September 24, 1999
This supplement provides new and additional information beyond that which
is contained in the Prospectus and should be read together with the Prospectus.
1. On November 22, 1999, the redemption fee applicable to shares of The Nevis
Fund, Inc. (the "Fund") will be increased from 1% to 2% and the related
holding period will be extended from 90 days to 180 days. The following
revisions are made in connection with this change:
The redemption fee information in the table under the heading "Fees and
Expenses of the Fund" on page 3 of the Prospectus is deleted and replaced with
the following:
Redemption Fee (as a % of amount redeemed)..........................2.00%*
*Shares purchased on or after November 22, 1999 and redeemed within 180
days of their purchase are subject to a 2% redemption fee; shares
purchased prior to November 22, 1999 and redeemed within 90 days of their
purchase are subject to a 1% redemption fee. The redemption fee may be
waived by the Fund. See "Purchasing and Selling Fund Shares - Selling
Shares."
The second paragraph of the disclosure under the heading "General
Information" on page 6 of the Prospectus is deleted and replaced with the
following:
Shares purchased on or after November 22, 1999 and redeemed within 180
days of their purchase are subject to a redemption fee equal to 2% of the
NAV next calculated after receipt of the redemption request in proper form.
Shares purchased prior to November 22, 1999 and redeemed within 90 days of
their purchase are subject to a 1% redemption fee. The Fund may waive the
redemption fee if it is in the best interests of the Fund and its
shareholders to do so.
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2. The following disclosure regarding risks related to investments in initial
public offerings is added under the heading "More About Risk" on page 5 of
the Prospectus:
PERFORMANCE RISK
The Fund may participate in the initial public offering (IPO) market.
An investment by the Fund in IPOs may have a magnified impact on the Fund's
total returns because of the Fund's small asset base. As the Fund's assets
grow, the effect of an investment in IPOs on the Fund's total returns will
likely decline, which may reduce the Fund's total returns.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
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NEV-C-001-02
