Supplement Dated July 21, 2000 to the
Quant Funds Prospectus Dated August 1, 1999
The section of the Prospectus entitled "Management of the
Funds" under the heading "The Manager and the Advisors" and
the subheading "Quant Growth and Income Fund" on page 10 is
replaced by the following paragraph:
State Street Global Advisors, Two International Place,
Boston, MA 02110, a unit of State Street Bank and
Trust Company ("State Street"), serves as Advisor to
the Growth and Income Fund. State Street is a wholly
owned subsidiary of State Street Boston Corporation, a
publicly owned bank holding company. State Street
manages over $150 billion in assets for employee
benefit plans, endowment funds and individuals. The
Growth and Income Fund has been managed continuously by
the Matrix Equity Group at State Street since the
Fund'sfund's inception. The team at State Street
presently responsible for the daily management of the
Fundfund includes Venkat S. Chalasani, Jeffrey P.
Davis, CFA, L. Emerson Tuttle, CFA and Edward Allinson,
CFA. Mr. Chalasani is a Lead Porfolio Manager with
State Street and has been with State Street since 1997.
Prior to joining State Street, Mr. Chalasani was an
account representative with HCL Hewlett-Packard. Mr.
Davis has been with State Street since 1992 and is
currently Chief Investment Officer of the Fundamental
Equity group. Mr. Tuttle joined State Street in 1995
and currently heads the U.S. Large Cap team within the
Global Fundamental Strategies group. Mr. Allinson
joined State Street in 1999 and is currently the Lead
Portfolio Manager for the International Growth
Opportunities Strategy within the Global Fundamental
Strategies Group. Prior to joining State Street, Mr.
Allinson was employed by Brown Brothers Harriman
("BBH") as a Senior Portfolio Manager, managing
pension, endowment and mutual fund assets. Prior to
BBH, Mr. Allinson worked at First Pacific Securities
("First Pacific") as Assistant Director in
Institutional Asian equity sales and prior First
Pacific, Mr. Allinson was a portfolio manager for
Citibank's Domestic Private Banking Group.
Supplement Dated July 21, 2000 to the Quant Funds Statement
of Additional Information Dated August 1, 1999
The section of the Statement of Additional Information
entitled "Management of the Funds" under the heading
"Advisory Contracts" and the subheading "Quant Growth and
Income Fund" on page 9 is replaced by the following
paragraph:
State Street Global Advisors, Two International Place,
Boston, MA 02110, a unit of State Street Bank and Trust
Company ("State Street"), serves as Advisor to the
Growth and Income Fund. State Street is a wholly owned
subsidiary of State Street Boston Corporation, a
publicly owned bank holding company. State Street
manages over $150 billion in assets for employee
benefit plans, endowment funds and individuals. The
Growth and Income Fund has been managed continuously by
the Matrix Equity Group at State Street since the
Fund's inception. The team at State Street presently
responsible for the daily management of the Fund
includes Venkat S. Chalasani, Jeffrey P. Davis, CFA, L.
Emerson Tuttle, CFA, and Edward Allinson, CFA. Mr.
Chalasani is a principal of State Street and is the
Lead Portfolio Manager of the Global Growth
Opportunities Equity Strategy. He also works on the
investment strategy team for the Global Fundamental
Strategies group. From 1997 - 1998 Mr. Chalasani was a
State Street Executive Fellow. Prior to joining State
Street, Mr. Chalasani worked for HCL Hewlett-Packard as
an Account Executive. Mr. Davis is a principal at
State Street and Chief Investment Officer of the
Fundamental Equity Group. Prior to State Street, Mr.
David was a Managing Director at Schooner Asset
Management. Mr. Tuttle is a principal of State Street
and heads the U.S. Large Cap team within the Global
Fundamental Strategies group. Prior to State Street,
Mr. Tuttle worked at Baybank Norfolk County Trust
Company. Mr. Allinson is a principal at State Street
and is the Lead Portfolio Manager for the International
Growth Opportunities Strategy within the Global
Fundamental Strategies group. Prior to joining State
Street in 1999, Mr. Allinson worked at Brown Brothers
Harmon as a Senior Portfolio Manager, at First Pacific
Securities as an Assistant Director in Institutional
Asian ewuity sales and as a portfolio manager at
Citibank's Domestic Private Banking Group. Marshall
Carter, Savid Spina, Tenley Albright, David Gruber, I.
MacAllister Booth, John M. Kucharshi, James I. Cash
Jr., Charles R. LaMantia, Truman S. Casner, David
Perini, Nader Darehshori, Dennis J. Picard, Arthur L.
Goldstein, and David Chapman Walsh are Directors of
State Street Global Advisors and are therefore
considered control persons.
(07/21/2000)
