MERRIMAC SERIES
MERRIMAC CASH SERIES
MERRIMAC TREASURY SERIES
MERRIMAC TREASURY PLUS SERIES
MERRIMAC U.S. GOVERNMENT SERIES
SUPPLEMENT DATED DECEMBER 29, 2000 TO THE
PROSPECTUS DATED MAY 1, 2000
In the Prospectus, the sections "Fees and Expenses"and "Example" on pages 2, 3,
5, 6, 8 and 10 are amended to read as follows:
MERRIMAC CASH SERIES
> FEES AND EXPENSES
These tables describe the fees and expenses that you may pay if you buy and
hold shares of the Fund. There are no fees or sales loads charged to your
account when you buy or sell Fund shares.
<TABLE>
<CAPTION>
ANNUAL FUND OPERATING EXPENSES - EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS
............................................................................
<S> <C> <C> <C>
PREMIUM CLASS INSTITUTIONAL CLASS INVESTMENT CLASS
Management Fees 0.17% 0.17% 0.17%
Distribution (12b-1) Fees None None 0.10%
Other Expenses (1) 0.08% 0.33% 0.33%
----- ----- -----
Total Annual Fund Operating Expenses (2) 0.25% 0.50% 0.60%
----- ----- -----
----- ----- -----
------------------
(1) "Other Expenses" include expenses such as legal, accounting, printing
services and shareholder servicing fees for the Institutional Class.
(2) This table and the example below reflect the Fund's expenses and the Fund's
share of the Portfolio's expenses for the fiscal period ended December 31,
1999. The Investment Class had not yet commenced operations at December
31, 1999.
</TABLE>
> EXAMPLE
This example is intended to help you compare the cost of investing in the
PREMIUM, INSTITUTIONAL OR INVESTMENT Class of the Fund with the cost of
investing in other mutual funds.
The example assumes that you invest $10,000 in the PREMIUM, INSTITUTIONAL OR
INVESTMENT Class of the Fund for the time periods indicated and then redeem
all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Fund's operating
expenses remain the same. Although your actual costs may be higher or lower,
based on these assumptions your costs would be:
CLASS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
Premium Class $26 $80 $141 $318
Institutional Class $51 $160 $280 $628
Investment Class $61 $192 $335 $750
<PAGE>
MERRIMAC TREASURY SERIES
> FEES AND EXPENSES
These tables describe the fees and expenses that you may pay if you buy and
hold shares of the Fund. There are no fees or sales loads charged to your
account when you buy or sell Fund shares.
<TABLE>
<CAPTION>
ANNUAL FUND OPERATING EXPENSES - EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS
............................................................................
<S> <C> <C> <C>
PREMIUM CLASS INSTITUTIONAL CLASS INVESTMENT CLASS
Management Fees 0.17% 0.17% 0.17%
Distribution (12b-1) Fees None None 0.10%
Other Expenses (1) 0.11% 0.36% 0.36%
----- ----- -----
Total Annual Fund Operating Expenses (2) 0.28% 0.53% 0.63%
----- ----- -----
----- ----- -----
------------------
(1) "Other Expenses" include expenses such as legal, accounting, printing
services and shareholder servicing fees for the Institutional Class.
(2) This table and the example below reflect the Fund's expenses and the Fund's
share of the Portfolio's expenses for the fiscal period ended December 31,
1999. The Investment Class had not yet commenced operations at December 31,
1999.
</TABLE>
> EXAMPLE
This example is intended to help you compare the cost of investing in the
PREMIUM, INSTITUTIONAL OR INVESTMENT Class of the Fund with the cost of
investing in other mutual funds.
The example assumes that you invest $10,000 in the PREMIUM, INSTITUTIONAL OR
INVESTMENT Class of the Fund for the time periods indicated and then redeem
all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Fund's operating
expenses remain the same. Although your actual costs may be higher or lower,
based on these assumptions your costs would be:
CLASS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
Premium Class $29 $90 $157 $356
Institutional Class $54 $170 $296 $665
Investment Class $64 $202 $351 $786
<PAGE>
MERRIMAC TREASURY PLUS SERIES
> FEES AND EXPENSES
These tables describe the fees and expenses that you may pay if you buy and
hold shares of the Fund. There are no fees or sales loads charged to your
account when you buy or sell Fund shares.
<TABLE>
<CAPTION>
ANNUAL FUND OPERATING EXPENSES - EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS
............................................................................
<S> <C> <C> <C>
PREMIUM CLASS INSTITUTIONAL CLASS INVESTMENT CLASS
Management Fees 0.17% 0.17% 0.17%
Distribution (12b-1) Fees None None 0.10%
Other Expenses (1) 0.11% 0.36% 0.36%
----- ----- -----
Total Annual Fund Operating Expenses (2) 0.28% 0.53% 0.63%
----- ----- -----
----- ----- -----
-----------------
(1) "Other Expenses" include expenses such as legal, accounting, printing
services and shareholder servicing fees for the Institutional Class.
(2) This table and the example below reflect the Fund's expenses and the Fund's
share of the Portfolio's expenses for the fiscal period ended December 31,
1999. The Premium Class and the Investment Class had not yet commenced
operations at December 31, 1999.
</TABLE>
> EXAMPLE
This example is intended to help you compare the cost of investing in the
PREMIUM, INSTITUTIONAL OR INVESTMENT Class of the Fund with the cost of
investing in other mutual funds.
The example assumes that you invest $10,000 in the PREMIUM, INSTITUTIONAL OR
INVESTMENT Class of the Fund for the time periods indicated and then redeem
all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Fund's operating
expenses remain the same. Although your actual costs may be higher or lower,
based on these assumptions your costs would be:
CLASS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
Premium Class $29 $90 $157 $356
Institutional Class $54 $170 $296 $665
Investment Class $64 $202 $351 $786
<PAGE>
MERRIMAC U.S. GOVERNMENT SERIES
> FEES AND EXPENSES
These tables describe the fees and expenses that you may pay if you buy and
hold shares of the Fund. There are no fees or sales loads charged to your
account when you buy or sell Fund shares.
<TABLE>
<CAPTION>
ANNUAL FUND OPERATING EXPENSES - EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS
............................................................................
<S> <C> <C> <C>
PREMIUM CLASS INSTITUTIONAL CLASS INVESTMENT CLASS
Management Fees 0.17% 0.17% 0.17%
Distribution (12b-1) Fees None None 0.10%
Other Expenses(1) 0.16% 0.41% 0.41%
----- ----- -----
Total Annual Fund Operating Expenses(2) 0.33% 0.58% 0.68%
----- ----- -----
----- ----- -----
(1) "Other Expenses" include expenses such as legal, accounting, printing
services and shareholder servicing fees for the Institutional Class.
(2) This table and the example below reflect the Fund's expenses and the Fund's
share of the Portfolio's expenses for the fiscal period ended December 31,
1999. The Premium Class and the Investment Class had not yet commenced
operations at December 31, 1999.
</TABLE>
> EXAMPLE
This example is intended to help you compare the cost of investing in the
PREMIUM, INSTITUTIONAL OR INVESTMENT Class of the Fund with the cost of
investing in other mutual funds.
The example assumes that you invest $10,000 in the PREMIUM, INSTITUTIONAL OR
INVESTMENT Class of the Fund for the time periods indicated and then redeem
all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Fund's operating
expenses remain the same. Although your actual costs may be higher or lower,
based on these assumptions your costs would be:
CLASS 1 YEAR 3 YEARS 5 YEARS 10 YEARS
Premium Class $34 $106 $185 $418
Institutional Class $59 $186 $324 $726
Investment Class $69 $218 $379 $847
