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FORUM FUNDS
DAILY ASSETS TREASURY FUND
DAILY ASSETS GOVERNMENT FUND
DAILY ASSETS CASH FUND
Amendment to Prospectus Dated August 1, 1996
1. The following language replaces the "Management" language found on page 2
of the Prospectus.
MANAGEMENT. Forum Financial Services, Inc. ("Forum") supervises the overall
management of the Funds and is the distributor of the Funds' shares. Linden
Asset Management, Inc. ("Linden") is the investment adviser of each of Treasury
Portfolio, Government Cash Portfolio and Cash Portfolio and provides
professional management of those Portfolios' investments. Forum Advisors and
Linden provide certain subadvisory assistance for the Portfolio's they do not
directly advise. The Trust's transfer agent, dividend disbursing agent and
shareholder servicing agent (the "Transfer Agent") is Forum Financial Corp. See
"Management."
2. The following language replaces the "Advisers" language found on page 9 of
the Prospectus.
Subject to the general supervision of the Core Trust Board, Linden makes
investment decisions for Treasury Portfolio, Government Cash Portfolio and Cash
Portfolio and monitors those Portfolios' investments. Forum Advisors, which is
located at Two Portland Square, Portland, Maine 04101, provides investment
advisory services to five other mutual funds. Linden, which is located at 812 N.
Linden Drive, Beverly Hills, California 90210, is controlled by Anthony R.
Fischer, Jr., who is its sole stockholder, director, and officer, and provides
investment advisory services to one other portfolio of Core Trust. Forum
Advisors and Linden act also as investment sub-advisers to the Portfolios that
they do not manage on a daily basis and from time to time may provide each other
with assistance regarding the other's advisory responsibilities. These services
may include management of part of or all of the Portfolios' investment
portfolios.
For its services, Linden receives from each of Treasury Portfolio,
Government Cash Portfolio and Cash Portfolio an advisory fee based upon the
total average daily net assets of those Portfolios and the other portfolio of
Core Trust that Linden advises ("Total Portfolio Assets"). Linden's fee is
calculated at an annual rate on a cumulative basis as follows: 0.05% of the
first $200 million of Total Portfolio Assets, 0.03% of the next $300 million of
Total Portfolio Assets, and 0.02% of the remaining Total Portfolio Assets. A
Fund's expenses include the Fund's pro rata portion of the advisory fee paid by
the corresponding Portfolio. To the extent Forum Advisors or Linden has
delegated its responsibilities to the other, Forum Advisors or Linden pays its
advisory fee accrued for such period of time to the other. Currently, it is
anticipated that Linden will delegate responsibility for portfolio management
infrequently to Forum Advisors.
August 28, 1996
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FORUM FUNDS
DAILY ASSETS TREASURY FUND
DAILY ASSETS GOVERNMENT FUND
DAILY ASSETS CASH FUND
Supplement to Prospectus Dated August 1, 1996
Shares of Daily Assets Government Fund currently are not offered for sale.
Shares of Daily Assets Cash Fund currently are not offered for sale. Shares will
be offered for sale on October 1, 1996.
September 1, 1996
