IAI Investment Funds II, Inc.
File No. 33-61834
IAI Investment Funds VII, Inc.
File No. 2-39560
IAI Investment Funds VIII, Inc.
File No. 2-84589
SUPPLEMENT DATED NOVEMBER 1, 1999
TO THE JOINT PROSPECTUS DATED AUGUST 1, 1999
OF
IAI GROWTH FUND (a portfolio of IAI Investment Funds II, Inc.)
IAI GROWTH AND INCOME FUND (a portfolio of IAI Investment Funds VII, Inc.)
IAI VALUE FUND (a portfolio of IAI Investment Funds VIII, Inc.)
The following replaces the disclosure on page 29 concerning the
management of the Funds:
Growth Fund and Growth & Income Fund. These Funds are managed by a team of
investment professionals comprised of Keith Wirtz, David McDonald, Jeff Malet
and Paul Roach. Mr. Wirtz joined IAI in March 1999 as President and Chief
Investment Officer. Prior to joining IAI, Mr. Wirtz was Chief Investment
Strategist for TradeStreet Investment Associates, Inc. from 1996 to 1999 and
Senior Vice President and Chief Investment Officer for Bank of America from 1992
to 1996. Mr. McDonald, who joined IAI in 1994, is a Vice President and Senior
Portfolio Manager. Mr. Malet joined IAI in January 1999 and is a Vice President
and Senior Portfolio Manager. Before joining IAI, Mr. Malet was an equity
analyst and associate portfolio manager with American Express Financial
Advisors. Mr. Roach is an IAI Associate Vice President and Associate Portolio
Manager. Prior to joining IAI in 1996, Mr. Roach worked in the personal trust
department at Norwest Bank.
Value Fund. The Fund is managed by a team of investment professionals
comprised of Curt McLeod, Scott Billeadeau, Robert Scott and Robert Mlarnik.
Mr. McLeod is an IAI Vice President and Senior Portfolio Manager. Prior to
joining IAI in 1997, Mr. McLeod had been a portfolio manager with Piper
Jaffray, Inc. since 1986. Mr. Billeadeau is an IAI Vice President and Senior
Portfolio Manager. Prior to joining IAI in July 1999, Mr. Billeadeau had been
a Director and Senior Portfolio Manager with TradeStreet Investment Associates
since 1997, a Senior Portfolio Manager with Bank of America Investment
Management from 1991 until 1997, and a Senior Project Manager with American
Express Financial Advisors from 1985 to 1991. Mr. Scott is an IAI Vice President
and Portfolio Manager and has served IAI in various investment related
capacities since 1994. Mr. Mlarnik is an IAI Vice President
and Portfolio Manager. Prior to joining IAI in 1996, Mr. Mlarnik was a
Major in the United States Marine Corps.
