[LOGO] FARMERS (R)
FINANCIAL SERVICES
FARMERS MUTUAL FUND PORTFOLIOS
INCOME PORTFOLIO
INCOME WITH GROWTH PORTFOLIO
BALANCED PORTFOLIO
GROWTH WITH INCOME PORTFOLIO
GROWTH PORTFOLIO
SUPPLEMENT TO PROSPECTUS
DATED SEPTEMBER 1, 1999
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The following text replaces the chart describing each portfolio's management
team in the "Investment adviser -- Portfolio management" section on pages 17 and
18 of the portfolios' prospectus.
The following investment professionals are associated with each portfolio as
indicated:
Joined
the
Name and Title Portfolios Responsibilities and Background
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Shahram Tajbakhsh 1999 Mr. Tajbakhsh joined the Adviser in 1996
Lead Manager and has eight years of industry
experience as a lead project manager,
including work in developing quantitative
databases and quantitative models.
Josephine W. K. Chu 2000 Ms. Chu joined the Adviser in 1997 as a
Manager quantitative analyst and has been a
portfolio manager for international
equity and asset allocation funds since
1999. Ms. Chu began her investment
career in 1997.
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March 8, 2000
