COREFUNDS, INC.
SUPPLEMENT DATED JULY 9, 1998 TO THE
INDIVIDUAL AND INSTITUTIONAL PROSPECTUSES DATED NOVEMBER 1, 1997
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS, AND SHOULD BE READ IN CONJUNCTION WITH THE PROSPECTUS.
On June 29, 1998 First Union Corporation ("First Union") entered into a
definitive agreement (the "Agreement") with United Asset Management Corporation
("UAM") pursuant to which First Union will acquire from UAM control of
Analytic o TSA International, Inc. ("Analytic"), an affiliate of Analytic o TSA
Global Asset Management, Inc. Analytic currently serves as the subadviser to the
Global Bond Fund (the "Fund") of CoreFunds, Inc. First Union currently controls
CoreStates Investment Advisers, Inc., the Fund's investment adviser. Subject to
receipt of all required regulatory approvals and satisfaction of certain other
conditions, First Union expects to complete the acquisition of Analytic on or
about August 21, 1998 (the "Closing Date"). In accordance with the terms of the
agreement between First Union and UAM, First Union expects to change the name of
Analytic to First International Advisors, Ltd. ("FIA") effective on the Closing
Date.
FIA will serve as investment adviser to the Evergreen Select International
Bond Fund (the "International Bond Fund"), a newly organized series of the
Evergreen Select Fixed Income Trust. The Board of Directors of the Fund has
approved an Agreement and Plan of Reorganization pursuant to which the
International Bond Fund would acquire all of the assets of the Fund in exchange
for shares of the International Bond Fund and the assumption by the
International Bond Fund of the identified liabilities of the Fund. The Board has
called a special meeting of shareholders of the Fund for August 18, 1998 to vote
to approve or disapprove (i) the proposed reorganization, (ii) on an interim
basis, for the period from April 30, 1998 until the closing of the proposed
reorganization, the investment advisory contract between the Fund and CoreStates
Investment Advisers, and (iii) on the same interim basis, the investment
subadvisory contract between CoreStates Investment Advisers and Analytic. Proxy
materials relating to these matters will be sent in the near future to
shareholders of record as of June 30, 1998.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
