QUANTITATIVE GROUP OF FUNDS
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 1, 1998
The following language is added to the end of the third
paragraph on page 16 of the Prospectus:
The SEC granted the exemptive order request in January
1999.
The following language supersedes the language in clause
(iii) of the first full paragraph on page 18 of the
Prospectus:
The clients of certain securities dealers or brokers not
affiliated with the Distributor offering programs in
which the client pays a separate fee to an advisor
providing financial management or consulting services,
including WRAP fee programs, may purchase Institutional
Shares subject to a minimum initial investment of
$250,000 in aggregate at the investment management level
and/or $100,000 at the individual client level. The
securities dealers or brokers offering WRAP fees or
similar programs may charge a separate fee for purchases
and redemptions of Institutional Shares. Neither the
Fund, the Manager, nor the Distributor receives any part
of the fees charged clients of such securities dealers
or brokers or financial advisors.
2/5/99
