Supplement dated October 30, 2000 to the currently
effective Prospectus and Statement of Additional Information
of each of the funds listed below
STOCK FUNDS
-----------
Kobrick Capital Fund
Kobrick Emerging Growth Fund
Kobrick Growth Fund
Nvest Balanced Fund
Nvest Bullseye Fund
Nvest Capital Growth Fund
Nvest Equity Income Fund
Nvest Growth and Income Fund
Nvest Growth Fund
Nvest International Equity Fund
Nvest Star Advisers Fund
Nvest Star Small Cap Fund
Nvest Star Value Fund
Nvest Star Worldwide Fund
BOND FUNDS
----------
Nvest Bond Income Fund
Nvest Government Securities Fund
Nvest High Income Fund
Nvest Intermediate Term Tax Free Fund of California
Nvest Limited Term U.S. Government Fund
Nvest Massachusetts Tax Free Income Fund
Nvest Municipal Income Fund
Nvest Short Term Corporate Income Fund
Nvest Strategic Income Fund
MONEY MARKET FUNDS
------------------
Nvest Cash Management Trust -
Money Market Series
Nvest Tax Exempt Money Market Trust
CDC Asset Management, the investment management arm of France's Caisse des
Depots Group, has completed its acquisition of Nvest, L.P. and Nvest Companies,
L.P. As a result CDC Asset Management owns, directly or indirectly, a
control-
CONTINUED ON THE REVERSE SIDE
<PAGE>
ling interest in certain Nvest affiliates, namely, Nvest Funds Management, L.P.;
Back Bay Advisors, L.P.; Capital Growth Management Limited Partnership; Harris
Associates L.P.; Jurika & Voyles, L.P.; Kobrick Funds LLC; Loomis, Sayles &
Company, L.P.; Vaughan, Nelson, Scarborough & McCullough, L.P.; and Westpeak
Investment Advisors, L.P. (collectively, the "Nvest Affiliates"), each of which
serves as investment adviser or sub-adviser to one or more of the above-named
funds.
The Nvest-CDC Asset Management transaction involved a change of ownership
of Nvest which may be deemed to have caused a "change of control" of the Nvest
Affiliates, even though the Nvest Affiliates' operations did not change as a
result. As required by the Investment Company Act of 1940, which regulates
investment companies such as your Fund, each Fund's shareholders approved new
investment advisory and/or sub-advisory agreement(s) for the Fund to assure that
there is no interruption in the services the Nvest Affiliates provide to the
Fund. Each new investment advisory and sub-advisory agreement is effective as of
October 30, 2000.
SP119-1000
