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St. Clair Funds, Inc.
Supplement Dated August 10, 1999
to Prospectus dated April 30, 1999
Munder Institutional S&P 500 Index Equity Fund
Munder Institutional S&P MidCap Index Equity Fund
Munder Institutional Short Term Treasury Fund
Munder Institutional Money Market Fund
CHANGE OF INVESTMENT ADVISOR FOR INSTITUTIONAL S&P 500
INDEX EQUITY FUND AND INSTITUTIONAL S&P MIDCAP INDEX EQUITY FUND
Effective August 3, 1999, the Board of Directors of St. Clair Funds, Inc.
has approved World Asset Management, Inc. ("WAM") as investment advisor to the
Institutional S&P 500 Index Equity Fund and Institutional S&P MidCap Index
Equity Fund.
WAM, with its principal offices at 255 East Brown Street, Birmingham,
Michigan 48009-6208, is a wholly-owned subsidiary of Munder Capital Management.
As of June 30, 1999, WAM had approximately $20.4 billion in assets under
management, of which $15.96 billion were invested in domestic equity securities,
$3.9 billion were invested in international equity securities and $0.5 billion
were invested in other fixed income securities.
WAM is entitled to receive an annual fee equal to .07% of the average daily
net assets of the Institutional S&P 500 Index Equity Fund and .15% of the
average daily net assets of the Institutional S&P MidCap Index Equity Fund.
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St. Clair Funds, Inc.
Supplement Dated August 10, 1999
to Statement of Additional Information dated April 30, 1999
Munder Institutional S&P 500 Index Equity Fund
Munder Institutional S&P MidCap Index Equity Fund
Munder Institutional Short Term Treasury Fund
Munder Institutional Money Market Fund
CHANGE OF INVESTMENT ADVISOR FOR INSTITUTIONAL S&P 500
INDEX EQUITY FUND AND INSTITUTIONAL S&P MIDCAP INDEX EQUITY FUND
Effective August 3, 1999, the Board of Directors of St. Clair Funds, Inc.
has approved World Asset Management, Inc. ("WAM") as investment advisor to the
Institutional S&P 500 Index Equity Fund and Institutional S&P MidCap Index
Equity Fund.
WAM, with its principal offices at 255 East Brown Street, Birmingham,
Michigan 48009-6208, is a wholly-owned subsidiary of Munder Capital Management.
As of June 30, 1999, WAM had approximately $20.4 billion in assets under
management, of which $15.96 billion were invested in domestic equity securities,
$3.9 billion were invested in international equity securities and $0.5 billion
were invested in other fixed income securities.
WAM is entitled to receive an annual fee equal to .07% of the average daily
net assets of the Institutional S&P 500 Index Equity Fund and .15% of the
average daily net assets of the Institutional S&P MidCap Index Equity Fund.
