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ZERO GRAVITY INTERNET FUND,
A SERIES OF ZERO GRAVITY FUNDS
PROSPECTUS SUPPLEMENT DATED OCTOBER 17, 2000
TO PROSPECTUS DATED APRIL 24, 2000
NAME CHANGES
e-harmon Funds changed its name to "Zero Gravity Funds." e-harmon
Internet Fund, a series of Zero Gravity Funds, changed its name to "Zero Gravity
Internet Fund."
The investment adviser to the Fund changed its name to "Zero Gravity
Capital Management LLC."
References in the Prospectus to the "e-harmon Internet Fund" and the "Fund"
refer to the Zero Gravity Internet Fund, and references to "e-harmon Capital
Management LLC" and the "Adviser" refer to Zero Gravity Capital Management LLC.
INVESTMENT TEAM
THE FOLLOWING REPLACES THE INFORMATION CONTAINED IN THE PROSPECTUS ON
PAGES 5-7 OF THE PROSPECTUS UNDER "HOW THE FUND IS MANAGED," BEGINNING WITH THE
THIRD PARAGRAPH OF THAT SECTION.
The Fund is managed by an investment team comprised of Lisa Cavallari, Randy
Chin and Patrick Wong. The Fund's annual management fee is 1.25% of average
daily net assets.
LISA A. CAVALLARI
Ms. Cavallari was a Principal at Barclays Global Investors ("BGI") from 1997 to
February 2000 when she joined Zero Gravity Capital Management LLC. As part of
the Advanced Active Group there, she served as Portfolio Manager for the retail
asset allocation funds, including the actively managed Barclays Global Investors
LifePath(R) mutual funds. As a Portfolio Manager for the U.S. Tactical Asset
Allocation products ($20 billion assets under management), she co-managed the
team that conducted $1 billion asset class mix shifts. At BGI she was also
responsible for the construction and trading of equity and fixed income
derivative strategies for institutional clients. From 1991 to 1995, Ms.
Cavallari was an analyst in the Russell Index Group at Frank Russell Company
where she was responsible for the annual index reconstitution efforts. Ms.
Cavallari holds a B.A. in Economics from Northwestern University and graduated
from the University of Chicago's Graduate School of Business with an MBA in
finance and statistics.
RANDY CHIN
Mr. Chin joined Zero Gravity Capital Management LLC in March, 2000 from Deutsche
Banc Alex. Brown where he spent over three years as an equity research analyst
covering the e-Business/e-Process sectors (B2B e-commerce, digital marketplaces,
e-hubs, Internet infrastructure, enterprise applications, business intelligence,
ERP, etc.). From 1993 to 1996, Mr. Chin was an Assistant Vice President,
securities analyst and Portfolio Manager at Beacon Fiduciary Advisors. From 1988
to 1993, Mr. Chin worked at Hellman, Jordan Management Co. as an Assistant Vice
President and equity analyst. Mr. Chin received his A.B. magna cum laude from
Harvard College. Mr. Chin is a Chartered Financial Analyst and is currently a
member of the Los Angeles Society of Financial Analysts, the Security Analysts
of San Francisco, and the Association for Investment Management and Research.
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PATRICK WONG
Prior to joining Zero Gravity Capital Management LLC in April, 2000, Mr. Wong
was an Associate in the International Offshore Banking Group at Merrill Lynch in
New York from 1998 to 1999. From 1997 to 1998, Mr. Wong was an analyst in the
Fixed Income Derivatives Group at Morgan Stanley in Tokyo. Mr. Wong graduated
from Boston College with a B.S. degree from the Carroll Wallace School of
Management, and a M.S. and MBA from Northeastern University Graduate School of
Professional Accounting. Mr. Wong is a Certified Public Accountant and a member
of the AICPA.
OVERNIGHT DELIVERY ADDRESS CHANGE
The Fund's overnight delivery address for use when sending applications,
additional investments, redemption requests and other correspondence via an
overnight courier will change beginning October 1, 2000. The Fund's P.O. Box and
its phone number will not change.
Effective October 1, 2000, the Fund's overnight delivery address will be:
Zero Gravity Internet Fund
Suite A
803 West Michigan
Milwaukee, Wisconsin
53233-2301
The above replaces the overnight delivery address appearing on pages 18 and 20
and the back cover of the Prospectus.
PLEASE RETAIN THIS SUPPLEMENT WITH YOUR RECORDS FOR FUTURE REFERENCE.
THIS SUPPLEMENT REPLACES ANY PREVIOUS SUPPLEMENTS.
