<PAGE> 1
PACIFICA FUNDS TRUST
PACIFICA GOVERNMENT MONEY MARKET FUND
PACIFICA MONEY MARKET FUND
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 2
PACIFICA FUNDS TRUST
PACIFICA PRIME MONEY MARKET FUND
PACIFICA TREASURY MONEY MARKET FUND
INSTITUTIONAL SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996 (AS REVISED)
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
On or about April 15, 1996, Furman Selz LLC, located at 230
Park Avenue, New York, New York 10169, will replace The Dreyfus Corporation as
the administrator for each Fund. The contractual fee rate payable by, and the
administrative services provided to, the Funds as described in the Prospectus
will not change as a result of these new administrative arrangements.
<PAGE> 3
PACIFICA FUNDS TRUST
PACIFICA PRIME MONEY MARKET FUND
PACIFICA TREASURY MONEY MARKET FUND
SERVICE SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996 (AS REVISED)
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
On or about April 15, 1996, Furman Selz LLC, located at 230
Park Avenue, New York, New York 10169, will replace The Dreyfus Corporation as
the administrator for each Fund. The contractual fee rate payable by, and the
administrative services provided to, the Funds as described in the Prospectus
will not change as a result of these new administrative arrangements.
<PAGE> 4
PACIFICA FUNDS TRUST
PACIFICA PRIME MONEY MARKET FUND
PACIFICA TREASURY MONEY MARKET FUND
INVESTOR SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996 (AS REVISED)
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
On or about April 15, 1996, Furman Selz LLC, located at 230
Park Avenue, New York, New York 10169, will replace The Dreyfus Corporation as
the administrator for each Fund. The contractual fee rate payable by, and the
administrative services provided to, the Funds as described in the Prospectus
will not change as a result of these new administrative arrangements.
<PAGE> 5
PACIFICA FUNDS TRUST
PACIFICA 100% U.S. TREASURY MONEY MARKET FUND
INSTITUTIONAL SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 6
PACIFICA FUNDS TRUST
PACIFICA 100% U.S. TREASURY MONEY MARKET FUND
SERVICE SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 7
PACIFICA FUNDS TRUST
PACIFICA NATIONAL TAX-EXEMPT MONEY MARKET FUND
PACIFICA CALIFORNIA TAX-EXEMPT MONEY MARKET FUND
INSTITUTIONAL SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 8
PACIFICA FUNDS TRUST
PACIFICA NATIONAL TAX-EXEMPT MONEY MARKET FUND
PACIFICA CALIFORNIA TAX-EXEMPT MONEY MARKET FUND
INVESTOR SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 9
PACIFICA FUNDS TRUST
PACIFICA EQUITY VALUE FUND
PACIFICA GROWTH FUND
PACIFICA BALANCED FUND
INSTITUTIONAL SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into new investment advisory agreements with WFIM dated April 1, 1996
which have the same terms and fee rates as the Funds' prior investment advisory
agreements with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 10
PACIFICA FUNDS TRUST
PACIFICA EQUITY VALUE FUND
PACIFICA GROWTH FUND
PACIFICA BALANCED FUND
INVESTOR SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into new investment advisory agreements with WFIM dated April 1, 1996
which have the same terms and fee rates as the Funds' prior investment advisory
agreements with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 11
PACIFICA FUNDS TRUST
PACIFICA SHORT-TERM GOVERNMENT BOND FUND
PACIFICA INTERMEDIATE GOVERNMENT BOND FUND
PACIFICA INTERMEDIATE BOND FUND
PACIFICA ASSET PRESERVATION FUND
PACIFICA GOVERNMENT INCOME FUND
INSTITUTIONAL SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into new investment advisory agreements with WFIM dated April 1, 1996
which have the same terms and fee rates as the Funds' prior investment advisory
agreements with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 12
PACIFICA FUNDS TRUST
PACIFICA SHORT-TERM GOVERNMENT BOND FUND
PACIFICA INTERMEDIATE GOVERNMENT BOND FUND
PACIFICA INTERMEDIATE BOND FUND
PACIFICA ASSET PRESERVATION FUND
PACIFICA GOVERNMENT INCOME FUND
INVESTOR SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into new investment advisory agreements with WFIM dated April 1, 1996
which have the same terms and fee rates as the Funds' prior investment advisory
agreements with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 13
PACIFICA FUNDS TRUST
PACIFICA OREGON TAX-EXEMPT FUND
PACIFICA ARIZONA TAX-EXEMPT FUND
PACIFICA CALIFORNIA TAX-EXEMPT FUND
PACIFICA CALIFORNIA SHORT-TERM TAX-EXEMPT FUND
PACIFICA NATIONAL TAX-EXEMPT FUND
INSTITUTIONAL SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into new investment advisory agreements with WFIM dated April 1, 1996
which have the same terms and fee rates as the Funds' prior investment advisory
agreements with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 14
PACIFICA FUNDS TRUST
PACIFICA OREGON TAX-EXEMPT FUND
PACIFICA ARIZONA TAX-EXEMPT FUND
PACIFICA CALIFORNIA TAX-EXEMPT FUND
PACIFICA CALIFORNIA SHORT-TERM TAX-EXEMPT FUND
PACIFICA NATIONAL TAX-EXEMPT FUND
INVESTOR SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into new investment advisory agreements with WFIM dated April 1, 1996
which have the same terms and fee rates as the Funds' prior investment advisory
agreements with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 15
PACIFICA FUNDS TRUST
PACIFICA MONEY MARKET TRUST
SUPPLEMENT DATED APRIL 1, 1996 TO THE
PROSPECTUS DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 16
PACIFICA FUNDS TRUST
PACIFICA PRIME MONEY MARKET FUND
PACIFICA TREASURY MONEY MARKET FUND
SERVICE AND INSTITUTIONAL SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
On or about April 15, 1996, Furman Selz LLC ("Furman Selz"),
located at 230 Park Avenue, New York, New York 10169, will replace The Dreyfus
Corporation as the administrator for each Fund. The contractual fee rate
payable by, and the administrative services provided to, the Funds as described
in the Prospectus will not change as a result of these new administrative
arrangements. In connection with this change in administrators, Ms. Furlong
and Messrs. Duggan, Mawe and Browne have resigned as officers of the Funds. In
addition, the Board of Directors has elected Stephen D. Belcher as Executive
Vice President, Joan V. Fiore as Vice President and Secretary, and Donald E.
Brostrom as Assistant Treasurer of the Funds. Mr. Belcher, 52, has been an
Executive Vice President and Director at Furman Selz since 1984. Ms. Fiore,
39, has served as a Managing Director and Counsel at Furman Selz since 1991.
She worked at the U.S. Securities and Exchange Commission, Division of
Investment Management from 1986 to 1991. Mr. Brostrom, 37, has served as
Director, Fund Services at Furman Selz since 1986. He has also been a Managing
Director since 1995.
<PAGE> 17
PACIFICA FUNDS TRUST
PACIFICA PRIME MONEY MARKET FUND
PACIFICA TREASURY MONEY MARKET FUND
INVESTOR SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
On or about April 15, 1996, Furman Selz LLC ("Furman Selz"),
located at 230 Park Avenue, New York, New York 10169, will replace The Dreyfus
Corporation as the administrator for each Fund. The contractual fee rate
payable by, and the administrative services provided to, the Funds as described
in the Prospectus will not change as a result of these new administrative
arrangements. In connection with this change in administrators, Ms. Furlong
and Messrs. Duggan, Mawe and Browne have resigned as officers of the Funds. In
addition, the Board of Directors has elected Stephen D. Belcher as Executive
Vice President, Joan V. Fiore as Vice President and Secretary, and Donald E.
Brostrom as Assistant Treasurer of the Funds. Mr. Belcher, 52, has been an
Executive Vice President and Director at Furman Selz since 1984. Ms. Fiore,
39, has served as a Managing Director and Counsel at Furman Selz since 1991.
She worked at the U.S. Securities and Exchange Commission, Division of
Investment Management from 1986 to 1991. Mr. Brostrom, 37, has served as
Director, Fund Services at Furman Selz since 1986. He has also been a Managing
Director since 1995.
<PAGE> 18
PACIFICA FUNDS TRUST
PACIFICA 100% U.S. TREASURY MONEY MARKET FUND
SERVICE SHARES
SUPPLEMENT DATED APRIL 1, 1996 TO THE
STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 19
PACIFICA FUNDS TRUST
PACIFICA GROWTH FUND
PACIFICA EQUITY VALUE FUND
PACIFICA BALANCED FUND
PACIFICA EQUITY INDEX FUND
PACIFICA INTERNATIONAL EQUITY FUND
PACIFICA ASSET PRESERVATION FUND
PACIFICA SHORT-TERM GOVERNMENT BOND FUND
PACIFICA INTERMEDIATE GOVERNMENT BOND FUND
PACIFICA GOVERNMENT INCOME FUND
PACIFICA INTERMEDIATE BOND FUND
PACIFICA OREGON TAX-EXEMPT FUND
PACIFICA ARIZONA TAX-EXEMPT FUND
PACIFICA CALIFORNIA TAX-EXEMPT FUND
PACIFICA CALIFORNIA SHORT-TERM TAX-EXEMPT FUND
PACIFICA NATIONAL TAX-EXEMPT FUND
PACIFICA GOVERNMENT MONEY MARKET FUND
PACIFICA NATIONAL TAX-EXEMPT MONEY MARKET FUND
PACIFICA CALIFORNIA TAX-EXEMPT MONEY MARKET FUND
PACIFICA 100% U.S. TREASURY MONEY MARKET FUND
SUPPLEMENT DATED APRIL 1, 1996 TO THE
STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
<PAGE> 20
PACIFICA FUNDS TRUST
PACIFICA MONEY MARKET TRUST
SUPPLEMENT DATED APRIL 1, 1996 TO THE
STATEMENT OF ADDITIONAL INFORMATION
DATED FEBRUARY 1, 1996
On April 1, 1996, First Interstate Bancorp was merged with and
into Wells Fargo & Company ("Wells Fargo") and First Interstate Capital
Management, Inc. ("FICM"), the Funds' investment adviser, became an indirect
wholly-owned subsidiary of Wells Fargo. In connection with this merger, FICM
is changing its name to Wells Fargo Investment Management, Inc. ("WFIM").
Pursuant to an order of the Securities and Exchange Commission, the Funds have
entered into a new investment advisory agreement with WFIM dated April 1, 1996
which has the same terms and fee rates as the Funds' prior investment advisory
agreement with FICM that automatically terminated on that date. A meeting of
shareholders will be held within 120 days from the date hereof to vote on the
Funds' new investment advisory arrangements with WFIM.
