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WARBURG PINCUS U.S. CORE EQUITY FUND
WARBURG PINCUS U.S. CORE FIXED INCOME FUND
SUPPLEMENT TO THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
The Board of Directors of each Fund has determined to cease offering Common
Class shares and to exchange each Fund's Common Class shares currently
outstanding for the Fund's Institutional Class shares. Upon completion of the
exchanges, holders of each Fund's Common Class shares would become holders of
the Fund's Institutional Class shares having a value equal to the value of their
Common Class share holdings. Institutional Class investment minimums will not be
applied to former Common Class shareholders.
Each Fund's Institutional Class, unlike the Common Class, does not impose a
Rule 12b-1 shareholder-servicing and distribution fee. No gain or loss for
federal income tax purposes would be recognized by Common Class shareholders as
a result of the exchanges, which are expected to occur on January 7, 2000.
Effective immediately, the Common Class is not offered to investors.
Dated: November 1, 1999 WPCOR-16-1199
