October 2, 1995
MIDWEST STRATEGIC TRUST
EQUITY FUND
UTILITY FUND
SUPPLEMENT TO PROSPECTUS DATED AUGUST 1, 1995
Effective immediately, Class A shares purchased at net asset
value totaling $1 million or more, including subsequent purchases
made after the initial $1 million, will be subject to a .75% contingent
deferred sales load if a dealer's commission was paid by the
Adviser and the shares are redeemed within twelve months from
the date of purchase. The Adviser intends to pay a commission of
.75% of the purchase amount to participating unaffiliated dealers
at the time the investor purchases Class A shares at net asset
value in amounts totaling $1 million or more. In order to
recover commissions paid to unaffiliated dealers, the contingent
deferred sales load imposed on redemptions of such shares is
retained by the Adviser. An exchange from other Midwest Group
funds will not qualify for payment of the dealer's commission,
unless such exchange is from a Midwest Group fund with assets as
to which a dealer's commission or similar payment has not been
previously paid. Purchases of Class A shares made before October
1, 1995 are not subject to the contingent deferred sales load.
If a purchase of Class A shares is subject to the contingent
deferred sales load, the investor will be so notified on the
confirmation statement for such purchase.
The contingent deferred sales load is imposed on such Class
A shares if an investor redeems an amount which causes the
current value of the investor's account to fall below the total
dollar amount of purchase payments subject to the deferred sales
load, except that no such charge is imposed if the shares
redeemed have been acquired through the reinvestment of dividends
or capital gains distributions or to the extent the amount
redeemed is derived from increases in the value of the account
above the amount of purchase payments subject to the deferred
sales load.
Redemptions of such Class A shares held for at least 12
months will not be subject to the contingent deferred sales load
and an exchange of such Class A shares into another Midwest Group
fund is not treated as a redemption and will not trigger the
imposition of the contingent deferred sales load at the time of
such exchange. A fund will "tack" the period for which such
Class A shares being exchanged were held onto the holding period
of the acquired shares for purposes of determining if a
contingent deferred sales load is applicable in the event that
the acquired shares are redeemed following the exchange.
However, the period of time that the redemption proceeds of such
Class A shares are held in a money market fund will not count
toward the holding period for determining whether a contingent
deferred sales load is applicable. (See "Exchange Privilege" in
the Prospectus.)
The contingent deferred sales load on such Class A shares is
currently waived for any partial or complete redemption following
death or disability (as defined in the Internal Revenue Code of
1986, as amended) of a shareholder (including one who owns the
shares with his or her spouse as a joint tenant with rights of
survivorship) from an account in which the deceased or disabled
is named. The Adviser may require documentation prior to waiver
of the charge, including death certificates, physicians'
certificates, etc.
EXPENSE INFORMATION. Shareholder Transaction Expenses in
the section entitled "Expense Information" on page 2 of the
Prospectus have been revised as set forth below to reflect the
contingent deferred sales load for certain purchases of Class A
shares:
Class A Class C
Shareholder Transaction Expenses Shares Shares
- -------------------------------- ------- -------
Maximum Sales Load Imposed on Purchases
(as a percentage of offering price). . . 4% None
Maximum Contingent Deferred Sales Load
(as a percentage of original purchase price) None* 1%
Sales Load Imposed on Reinvested Dividends None None
Exchange Fee . . . . . . . . . . . . . . . . None None
Redemption Fee . . . . . . . . . . . . . . . None** None**
* Purchases at net asset value of amounts totaling $1 million
or more may be subject to a contingent deferred sales load
of .75% if a redemption occurred within 12 months of
purchase and a commission was paid by the Adviser to a
participating unaffiliated dealer.
** A wire transfer fee is charged by the Funds' Custodian in
the case of redemptions made by wire. Such fee is subject
to change and is currently $8. See "How to Redeem Shares."
HOW TO PURCHASE SHARES - CLASS A SHARES. The table of
sales loads in the section entitled "How to Purchase Shares -
Class A Shares" on page 13 has been revised as set forth below:
Class A shares of each Fund are purchased at the public
offering price. The public offering price of Class A shares is
the next determined net asset value per share plus a sales load
as shown in the following table.
Dealer
Sales Load Reallowance
as % of: as % of
Public Net Public
Offering Amount Offering
Amount of Investment Price Invested Price*
- -------------------- -------- -------- ---------
Less than $100,000 4.00% 4.17% 3.60%
$100,000 but less than $250,000 3.50 3.63 3.30
$250,000 but less than $500,000 2.50 2.56 2.30
$500,000 but less than $1,000,000 2.00 2.04 1.80
$1,000,000 or more None** None**
* During the period from October 1, 1995 until December 31,
1995, the Adviser will reallow the entire amount of the sales
load to unaffiliated dealers responsible for sales of Class A
shares during such period.
** There is no front-end sales load on purchases of $1 million
or more but a contingent deferred sales load of .75% may
apply with respect to Class A shares if a commission was paid
by the Adviser to a participating unaffiliated dealer and the
shares are redeemed within twelve months from the date of
purchase.
<PAGE>
October 2, 1995
MIDWEST STRATEGIC TRUST
U.S. GOVERNMENT SECURITIES FUND
TREASURY TOTAL RETURN FUND
SUPPLEMENT TO PROSPECTUS DATED AUGUST 1, 1995
Effective immediately, shares purchased at net asset
value totaling $1 million or more, including subsequent
purchases made after the initial $1 million, will be subject
to a contingent deferred sales load if a dealer's commission
was paid by the Adviser and the shares are redeemed within
twelve months from the date of purchase. The Adviser
intends to pay a commission (equal to .50% of the purchase
amount of U.S. Government Securities Fund shares and .75% of
the purchase amount of Treasury Total Return Fund shares) to
participating unaffiliated dealers at the time the investor
purchases shares at net asset value in amounts totaling $1
million or more. In order to recover commissions paid to
unaffiliated dealers, the contingent deferred sales load
imposed on redemptions of such shares is retained by the
Adviser. An exchange from other Midwest Group funds will
not qualify for payment of the dealer's commission, unless
such exchange is from a Midwest Group fund with assets as to
which a dealer's commission or similar payment has not been
previously paid. Purchases of shares made before October 1,
1995 are not subject to the contingent deferred sales load.
If a purchase of shares is subject to the contingent
deferred sales load, the investor will be so notified on the
confirmation statement for such purchase.
The contingent deferred sales load is imposed on such
shares if an investor redeems an amount which causes the
current value of the investor's account to fall below the
total dollar amount of purchase payments subject to the
deferred sales load, except that no such charge is imposed
if the shares redeemed have been acquired through the
reinvestment of dividends or capital gains distributions or
to the extent the amount redeemed is derived from increases
in the value of the account above the amount of purchase
payments subject to the deferred sales load.
Redemptions of such shares held for at least 12 months
will not be subject to the contingent deferred sales load
and an exchange of such shares into another Midwest Group
fund is not treated as a redemption and will not trigger the
imposition of the contingent deferred sales load at the time
of such exchange. A fund will "tack" the period for which
such shares being exchanged were held onto the holding
period of the acquired shares for purposes of determining if
a contingent deferred sales load is applicable in the event
that the acquired shares are redeemed following the
exchange. However, the period of time that the redemption
proceeds of such shares are held in a money market fund will
not count toward the holding period for determining whether
a contingent deferred sales load is applicable. (See
"Exchange Privilege" in the Prospectus.)
The contingent deferred sales load on such shares is
currently waived for any partial or complete redemption
following death or disability (as defined in the Internal
Revenue Code of 1986, as amended) of a shareholder
(including one who owns the shares with his or her spouse as
a joint tenant with rights of survivorship) from an account
in which the deceased or disabled is named. The Adviser may
require documentation prior to waiver of the charge,
including death certificates, physicians' certificates,
etc.
EXPENSE INFORMATION. Shareholder Transaction Expenses
in the section entitled "Expense Information" on page 2 of
the Prospectus have been revised as set forth below to
reflect the contingent deferred sales load for certain
purchases of shares:
U.S. Treasury
Government Total
Securities Return
Shareholder Transaction Expenses Fund Fund
- -------------------------------- ---------- --------
Maximum Sales Load Imposed on Purchases
(as a percentage of offering price). . . . 2% 4%
Maximum Contingent Deferred Sales Load
(as a percentage of original purchase price) None* None*
Sales Load Imposed on Reinvested Dividends . None None
Exchange Fee . . . . . . . . . . . . . . . . None None
Redemption Fee . . . . . . . . . . . . . . . None** None**
* Purchases at net asset value of amounts totaling $1
million or more may be subject to a contingent deferred
sales load if a redemption occurred within 12 months of
purchase and a commission was paid by the Adviser to a
participating unaffiliated dealer. The contingent
deferred sales load is equal to .50% of the value of
U.S. Government Securities Fund shares subject to the
load and .75% of the value of Treasury Total Return
Fund shares subject to the load.
** A wire transfer fee is charged by the Funds' Custodian
in the case of redemptions made by wire. Such fee is
subject to change and is currently $8. See "How to
Redeem Shares."
HOW TO PURCHASE SHARES. The tables of sales loads in
the section entitled "How to Purchase Shares" on pages 11-12
have been revised as set forth below:
Shares of each Fund are purchased at the public
offering price. The public offering price of shares of the
U.S. Government Securities Fund applicable to investors
whose accounts are opened after January 31, 1995 is the next
determined net asset value per share plus a sales load as
shown in the following table.
Dealer
Reallowance
Sales Load as % of: as % of
Public Net Public
Offering Amount Offering
Amount of Investment Price Invested Price*
- -------------------- -------- -------- ---------
Less than $100,000 2.00% 2.04% 1.80%
$100,000 but less than $250,000 1.50 1.52 1.35
$250,000 but less than $500,000 1.00 1.01 .90
$500,000 but less than $1,000,000 .75 .76 .65
$1,000,000 or more None** None**
The public offering price of shares of the U.S. Government
Securities Fund applicable to investors whose accounts were
opened prior to February 1, 1995 is the next determined net
asset value per share plus a sales load as shown in the
following table.
Dealer
Reallowance
Sales Load as % of: as % of
Public Net Public
Offering Amount Offering
Amount of Investment Price Invested Price
- -------------------- -------- -------- ---------
Less than $500,000 1.00% 1.01% 1.00%
$500,000 but less than $1,000,000 .75 .76 .75
$1,000,000 or more None** None**
The public offering price of shares of the Treasury Total
Return Fund is the next determined net asset value per share
plus a sales load as shown in the following table.
Dealer
Reallowance
Sales Load as % of: as % of
Public Net Public
Offering Amount Offering
Amount of Investment Price Invested Price*
- -------------------- -------- -------- ---------
Less than $100,000 4.00% 4.17% 3.60%
$100,000 but less than $250,000 3.50 3.63 3.30
$250,000 but less than $500,000 2.50 2.56 2.30
$500,000 but less than $1,000,000 2.00 2.04 1.80
$1,000,000 or more None** None**
* During the period from October 1, 1995 until December
31, 1995, the Adviser will reallow the entire amount of
the sales load to unaffiliated dealers responsible for
sales of shares during such period.
** There is no front-end sales load on purchases of $1
million or more but a contingent deferred sales load
may apply if a commission was paid by the Adviser to a
participating unaffiliated dealer and the shares are
redeemed within twelve months from the date of
purchase.
