NEW ENGLAND FUNDS TRUST I
New England Star Advisers Fund
(the "Fund")
Supplement dated October 26, 1995 to
New England Star Advisers Fund Prospectus dated May 1, 1995
The following paragraphs are added to the section of the Prospectus captioned
"Fund Management":
Loomis, Sayles & Company, L.P. ("Loomis Sayles"), one of the Fund's
subadvisers, is a wholly-owned subsidiary of New England Investment
Companies, L.P. ("NEIC"). NEIC serves as investment adviser to the
Fund. New England Mutual Life Insurance Company ("The New England")
owns NEIC's sole general partner and a majority of the limited
partnership interest in NEIC. The New England and Metropolitan Life
Insurance Company ("MetLife") have entered into an agreement to merge,
with MetLife to be the survivor of the merger. The merger is
conditioned upon, among other things, approval by the policyholders of
The New England and MetLife and receipt of certain regulatory
approvals. The merger is not expected to occur until after December
31, 1995.
The merger of The New England into MetLife is being treated for
purposes of the Investment Company Act of 1940 (the "Act"), as an
"assignment" of the existing investment advisory agreement between
NEIC and the Fund and the related subadvisory agreement between NEIC
and Loomis Sayles. Under the Act, such an "assignment" will result in
the automatic termination of those agreements, effective at the time
of the merger. The subadvisory agreements with the Fund's three
subadvisers other than Loomis Sayles provide that they will terminate
automatically upon any termination of the investment advisory
agreement between the Fund and NEIC. Those subadvisory agreements
will thus also terminate at the time of the merger. Prior to the
merger, shareholders of the Fund will be asked to approve a new
investment advisory agreement and new subadvisory agreements, intended
to take effect at the time of the merger. A proxy statement
describing the new agreements will be sent to shareholders of the Fund
prior to their being asked to vote on the new agreements.
The following paragraphs are added to the section of the Prospectus
captioned "Buying Fund Shares":
Investment checks should be made payable to New England Funds.
New England Funds will accept second-party checks (up to $10,000) for
investments into existing accounts only. (A second-party check is a
check made payable to a New England Funds shareholder which the
shareholder has endorsed to New England Funds for deposit into an
account registered to the shareholder.)
New England Funds will NOT accept third-party checks, except certain
third-party checks issued by other mutual fund companies, broker
dealers or banks representing the transfer of retirement assets. (A
third-party check is a check made payable to a party which is not a
New England Funds shareholder, but which has been ultimately endorsed
to New England Funds for deposit into an account.)
SP32-1095
