RCM Small Cap Fund
Amendment to
Semi-Annual Report
Dated June 30, 1996
Filed August 29, 1996
Management's Discussion of Fund
Performance
The following replaces information
found on Page 3:
Past performance is not predictive of
future performance
The chart above shows the performance of
the RCM Small Cap Fund since the Fund's
inception versus the Russell 2000 Index.#
The chart represents a cumulative return
of 109.93%+ for the Fund. The average
annual total return from the Fund's
inception was 17.92%*+.The chart assumes
a hypothetical $10,000 initial investment
in the Fund and reflects all Fund
expenses.
Average Annual Total Returns+
June 30, 1996
1 Year Life of
Fund
42.53% 17.92%
The data above represents past
performance of the Fund, and may not be
indicative of future results. The
investment return and principal value of
an investment in the Fund will fluctuate,
so that shares, when redeemed, may be
worth more or less than their original
cost.
