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ONE GROUP(R) MUTUAL FUNDS
BOND FUNDS COMBINED PROSPECTUS
Supplement dated November 1, 1999
to Prospectus dated November 1, 1999
ONE GROUP(R) INCOME BOND FUND
A Special Meeting of Shareholders ("Special Meeting") of One Group(R)
Income Bond Fund (the "Fund") will be held on Friday, November 19, 1999 at 10:00
a.m. for the following purposes:
1. To approve a Sub-Investment Advisory Agreement between Banc One
Investment Advisors Corporation and Banc One High Yield Partners, LLC
with respect to the Fund; and
2. To transact such other business as may properly come before the Special
Meeting.
Only shareholders of record at the close of business on Thursday, September
23, 1999 are entitled to notice of, and to vote at, this Special Meeting or any
adjournment thereof. Accordingly, investors who were not shareholders of record
at the close of business on September 23, 1999 will not be entitled to notice
of, or to vote at, this Special Meeting or any adjournment thereof. If the
Sub-Investment Advisory Agreement is approved, Banc One High Yield Partners, LLC
will act as sub-advisor to the Fund with regard to that portion of the Fund's
assets designated by Banc One Investment Advisors for investment in corporate
fixed-income securities and instruments which are rated below investment grade
or unrated corporate fixed-income securities and instruments of similar quality.
The Fund currently cannot invest more than 30% of its total assets in this type
of security. Approval of the Sub-Investment Advisory Agreement will not result
in any change in the Fund's investment restrictions or an increase in the
contractual rate of any advisory fees payable by the Fund. The sub-investment
advisory fees will be paid by Banc One Investment Advisors and not by the Fund.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUS FOR FUTURE REFERENCE
TOG-S-1043
