New England Money Market Funds:
New England Cash Management Trust
Money Market Series
U.S. Government Series
New England Tax Exempt Money Market Trust
Supplement dated January 5, 1996 to Prospectus dated September 1, 1995
Effective January 2, 1996, the investment adviser of New England Cash
Management Trust - Money Market Series, New England Cash Management Trust -
U.S. Government Series and New England Tax Exempt Money Market Trust is New
England Funds Management, L.P. ("NEFM"), and Back Bay Advisors, L.P. ("Back
Bay Advisors") serves as subadviser to each Fund.
The advisory fee rates payable by each Fund to NEFM under the new
advisory arrangements described above are unchanged from the advisory fee
rates previously in effect.
Also effective January 2, 1996, the Funds will be bearing the cost of
certain accounting and legal services that were formerly borne by their
adviser. To reflect this change, the "Other Expenses" and "Total Fund
Operating Expenses" in the "Annual operating expenses" tables for the Funds
in their Prospectuses are increased by the following amounts, based on the
assumption that the change went into effect on July 1, 1994: New England
Cash Management Trust -- Money Market Series, 0.01%, New England Cash
Management Trust -- U.S. Government Series, 0.07% and New England Tax
Exempt Money Market Trust, 0.06%.
The following item supplements the Prospectuses of the Funds:
Effective January 2, 1996, there is no longer a $5.00 fee to establish
the checkwriting service for your account.
Supplement dated October 26, 1995 to the Money Market Prospectuses dated
September 1, 1995
The following paragraphs are added to the section of the Prospectuses captioned
"Buying Fund Shares" for each of the Funds:
Investment checks should be made payable to New England Funds.
New England Funds will accept second-party checks (up to $10,000) for
investments into existing accounts only. (A second-party check is a check
made payable to a New England Funds shareholder which the shareholder has
endorsed to New England Funds for deposit into an account registered to the
shareholder.)
New England Funds will NOT accept third-party checks, except certain
third-party checks issued by other mutual fund companies, broker dealers or
banks representing the transfer of retirement assets. (A third party check
made payable to a party which is not a New England Funds shareholder, but
which has ultimely endorsed to New England Funds for deposit into an
account.)
