Supplement, Dated April 24, 2000, to the Quantitative Group
of Funds Prospectus dated August 1, 1999
The following information is added after the section
entitled "Investments by Check" section on page 13.
INTERNET TRANSACTIONS. Investors may open new accounts
through the Quant Funds' Web site. To utilize this service,
you will need a web browser (presently Netscape version 1.2
or higher, or Internet Explorer version 2.0 or higher) and
the ability to utilize the Quant Funds' Web site. Quant
Funds will accept Internet purchase instructions only if the
purchase price is paid to Quant Funds through debiting your
bank account. Quant Funds imposes a limit of $10,000 on
Internet purchase transactions and shareholders may only
redeem shares purchased via the Quant Funds Web site in
writing or by calling the Quant Funds shareholder service
line at 1-800-331-1244. Regardless of the method of
redemption, for the first 90 days after the purchase of
shares is made over the Internet, such shares will be paid
only via ACH to the same bank account from which the payment
to Quant Funds originated. If the bank account number
changes during such 90 days, the shareholder must provide
the Quant Funds with a signature guarantee letter of
instruction from a bank or a qualified broker/dealer
changing the bank account number prior to such redemption.
You may also download an application to open an account from
the Web site, complete it by hand, and mail it to Quant
Funds, along with a check. Purchases made by check must
wait 15 days prior to being liquidated, however, such shares
are not subject to the other restrictions noted above.
Quant Funds employs reasonable procedures to confirm that
transactions entered into over the Internet are genuine.
These procedures include the use of alphanumeric passwords,
secure socket layering, encryption and other precautions
reasonably designed to protect the integrity,
confidentiality and security of shareholder information. In
order to enter into a transaction on the Quant Funds' Web
site, you will need your Social Security Number and an
alphanumeric password. If Quant Funds follows these
procedures, neither Quant Funds, its affiliates nor any Fund
will be liable for any loss, liability, cost or expense for
following instructions communicated via the Internet that
are reasonably believed to be genuine or that follow Quant
Funds' security procedures. By entering into the user's
agreement with Quant Funds to open an account through our
Web site, you lose certain rights if someone gives
fraudulent or unauthorized instructions
to Quant Funds that result in a loss to you.
