May 25, 1999
T.O. RICHARDSON SECTOR ROTATION FUND
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Supplement to the Prospectus
dated December 30, 1998
We are pleased to announce that the Board of Trustees for T.O. Richardson Sector
Rotation Fund has approved a reduction to the Fund's Redemption Fee from 1.25%
to 1% of average daily net asset value effective immediately.
The Prospectus is amended as follows:
Page 7
Under the subheading "What are the Costs of Investing in the Fund?" the
following change is made:
Redemption Fee.................................................1.00%(1)
(1) The Fund charges a fee of 1.00% on redemptions of Fund shares held for
less than one year. This fee is paid to the Fund. This fee is waived
for Fund shareholders that were previously private clients of the
Advisor. If you redeem shares by wire, you may be charged a $12 service
fee. See "Redeeming Shares of the Fund."
Please retain this Supplement with your Prospectus for future
reference.
