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ONE GROUP(R) MUTUAL FUNDS
STATEMENT OF ADDITIONAL INFORMATION
Supplement dated June 23, 2000
to Statement of Additional Information dated November 1, 1999
TECHNOLOGY FUND INVESTMENT RESTRICTIONS
This supplement clarifies an investment policy of the Technology Fund. The first
restriction under the section entitled INVESTMENT RESTRICTIONS in the Statement
of Additional Information is restated as follows:
1. Purchase securities of any issuer (except securities issued or
guaranteed by the United States, its agencies or
instrumentalities and repurchase agreements involving such
securities) if as a result more than 5% (25% with respect to
the Technology Fund) of the total assets of the Fund would be
invested in the securities of such issuer or the Fund (with
the exception of the Technology Fund) would own more than 10%
of the outstanding voting securities of such issuer. This
restriction applies to 75% (50% with respect to the Technology
Fund) of the Fund's assets. For purposes of this limitation, a
security is considered to be issued by the government entity
whose assets and revenues guarantee or back the security. With
respect to private activity bonds or industrial development
bonds backed only by the assets and revenues of a
nongovernmental user, such user would be considered the
issuer.
ADDITIONAL PERFORMANCE INFORMATION
This supplement further clarifies the performance information applicable to
certain share classes started after the date of the Fund Prospectuses and
Statement of Additional Information:
CLASS S SHARES
Performance for Class S Shares of the Institutional Prime Money Market
Fund, Government Money Market Fund, and Treasury Only Money Market Fund
prior to the commencement of operations of Class S Shares on April 10,
2000 reflects performance for Class I Shares of such Funds adjusted to
reflect the difference in expenses.
<TABLE>
<CAPTION>
INCEPTION 7-DAY YIELD
7-DAY YIELD DATE 3/31/00
----------- ---- -------
<S> <C> <C>
Institutional Prime Money Market Fund 4/10/00 5.72%
Government Money Market Fund 4/10/00 5.62%
Treasury Only Money 4/10/00 5.42%
</TABLE>
CLASS C SHARES
Performance for Class C Shares of the Prime Money Market Fund, the
Income Bond Fund, and the Balanced Fund prior to the commencement of
operations of Class C Shares on May 31, 2000, reflects the performance
of Class B Shares of such Funds.
<TABLE>
<CAPTION>
INCEPTION 7-DAY YIELD
7-DAY YIELD DATE 3/31/00
----------- ---- -------
<S> <C> <C>
Prime Money Market Fund 5/31/00 4.63%
</TABLE>
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AVERAGE ANNUAL TOTAL RETURNS AS OF 3/31/00
<TABLE>
<CAPTION>
30-DAY
INCEPTION LIFE OF SEC
DATE 1 YEAR 3 YEAR 5 YEAR 10 YEAR FUND YIELD
---- ------ ------ ------ ------- ---- -----
<S> <C> <C> <C> <C> <C> <C> <C>
Balanced Fund............ 5/31/00 8.12% 16.24% 15.43% 11.86% 1.58%
With Sales Charge........ 5/31/00 7.12% 16.24% 15.43% 11.86% 1.58%
Income Bond Fund......... 5/31/00 0.65% 5.01% 5.41% 4.83% 5.76%
With Sales Charge........ 5/31/00 (0.35%) 5.01% 5.41% 4.83% 5.76%
</TABLE>
CASH COMPENSATION TO SHAREHOLDER SERVICING AGENTS
The supplement restates the section entitled Cash Compensation to Shareholder
Servicing Agents in the Statement of Additional Information as follows:
The One Group Services Company and Banc One Investment Advisors
Corporation compensate Shareholder Servicing Agents who sell shares of
the Funds. Compensation comes from sales charges, 12b-1 fees and
payments by The One Group Services Company and Banc One Investment
Advisors Corporation from their own resources. The One Group Services
Company may, on occasion, pay select Shareholder Servicing Agents the
entire front-end sales charge applicable to Fund shares sold by such
Shareholder Servicing Agents.
Occasionally, The One Group Services Company and Banc One Investment
Advisors Corporation, at their own expense, will provide cash
incentives to select Shareholder Servicing Agents. These cash payments
may take of the form of, but are not limited to, finders' fees and an
additional commission on the sale of Fund shares subject to a
contingent deferred sales charge.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE
