NVEST STAR ADVISERS FUND
NVEST STAR WORLDWIDE FUND
Supplement dated October 30, 2000 to Nvest Star Funds Prospectuses Classes A, B
and C and Class Y each dated May 1, 2000
Effective immediately, Edward S. Loeb joins Robert J. Sanborn as co-manager of
the Harris Associates segment of the Star Advisers Fund and the Harris
Associates U.S. segment of the Star Worldwide Fund. Mr. Loeb, Partner and
Director of Institutional Portfolios of Harris Associates, joined the firm in
1989. Prior to becoming Director of Institutional Portfolios, Mr. Loeb served as
Vice President in charge of Harris Associates' Investment Advisory Department.
He is also a Chartered Financial Analyst. In addition to his 12 years of
investment experience, Mr. Loeb holds an M.M. from Northwestern University and a
B.A. from Princeton University.
SP118-1000
<PAGE>
Supplement dated October 30, 2000 to the currently
effective Prospectus and Statement of Additional Information
of each of the funds listed below
STOCK FUNDS
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Kobrick Capital Fund
Kobrick Emerging Growth Fund
Kobrick Growth Fund
Nvest Balanced Fund
Nvest Bullseye Fund
Nvest Capital Growth Fund
Nvest Equity Income Fund
Nvest Growth and Income Fund
Nvest Growth Fund
Nvest International Equity Fund
Nvest Star Advisers Fund
Nvest Star Small Cap Fund
Nvest Star Value Fund
Nvest Star Worldwide Fund
BOND FUNDS
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Nvest Bond Income Fund
Nvest Government Securities Fund
Nvest High Income Fund
Nvest Intermediate Term Tax Free Fund of California
Nvest Limited Term U.S. Government Fund
Nvest Massachusetts Tax Free Income Fund
Nvest Municipal Income Fund
Nvest Short Term Corporate Income Fund
Nvest Strategic Income Fund
MONEY MARKET FUNDS
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Nvest Cash Management Trust -
Money Market Series
Nvest Tax Exempt Money Market Trust
CDC Asset Management, the investment management arm of France's Caisse des
Depots Group, has completed its acquisition of Nvest, L.P. and Nvest Companies,
L.P. As a result CDC Asset Management owns, directly or indirectly, a
control-
CONTINUED ON THE REVERSE SIDE
<PAGE>
ling interest in certain Nvest affiliates, namely, Nvest Funds Management, L.P.;
Back Bay Advisors, L.P.; Capital Growth Management Limited Partnership; Harris
Associates L.P.; Jurika & Voyles, L.P.; Kobrick Funds LLC; Loomis, Sayles &
Company, L.P.; Vaughan, Nelson, Scarborough & McCullough, L.P.; and Westpeak
Investment Advisors, L.P. (collectively, the "Nvest Affiliates"), each of which
serves as investment adviser or sub-adviser to one or more of the above-named
funds.
The Nvest-CDC Asset Management transaction involved a change of ownership
of Nvest which may be deemed to have caused a "change of control" of the Nvest
Affiliates, even though the Nvest Affiliates' operations did not change as a
result. As required by the Investment Company Act of 1940, which regulates
investment companies such as your Fund, each Fund's shareholders approved new
investment advisory and/or sub-advisory agreement(s) for the Fund to assure that
there is no interruption in the services the Nvest Affiliates provide to the
Fund. Each new investment advisory and sub-advisory agreement is effective as of
October 30, 2000.
SP119-1000
<PAGE>
NVEST STAR FUNDS
Supplement dated October 30, 2000 to Nvest Star Funds Prospectuses
Classes A, B and C and Class Y each dated May 1, 2000
NVEST STAR ADVISERS FUND AND NVEST STAR WORLDWIDE FUND
Effective immediately, Edward S. Loeb joins Robert J. Sanborn as co-manager of
the Harris Associates segment of the Star Advisers Fund and the Harris
Associates U.S. segment of the Star Worldwide Fund. Mr. Loeb, Partner and
Director of Institutional Portfolios of Harris Associates, joined the firm in
1989. Prior to becoming Director of Institutional Portfolios, Mr. Loeb served as
Vice President in charge of Harris Associates' Investment Advisory Department.
He is also a Chartered Financial Analyst. In addition to his 12 years of
investment experience, Mr. Loeb holds an M.M. from Northwestern University and a
B.A. from Princeton University.
NVEST STAR ADVISERS FUND
Effective September 30, 2000, Michael Dugas is an Assistant Portfolio Manager of
the segment of the Fund managed by Janus. Warren Lammert remains Portfolio
Manager of this segment. Mr. Dugas joined Janus in 1993. He is also Assistant
Portfolio Manager of Janus Mercury Fund. Prior to joining Janus, he was a senior
auditor at PricewaterhouseCoopers, and controller of the U.S. branch of a
European manufacturing firm. Mr. Dugas holds an M.B.A. from the University of
Texas, a B.A. from Louisiana State University and has 7 years of investment
experience.
CONTINUED ON THE REVERSE SIDE
SP120-1000
<PAGE>
Effective August 1, 2000, Joseph Gatz remains the lead portfolio manager and
Daniel Thelen remains a co-portfolio manager for the segment of the Fund managed
by Loomis Sayles.
NVEST STAR VALUE FUND
Effective August 1, 2000, Margaret Buescher is the sole portfolio manager for
the segment of the Fund managed by Vaughan, Nelson, Scarborough & McCullough.
NVEST STAR SMALL CAP FUND
Effective July 1, 2000, Clyde S. McGregor, C.F.A., has become co-portfolio
manager of the Harris Associates segment of Nvest Star Small Cap Fund, joining
James P. Benson, who has managed the segment since November 1999. Mr. McGregor,
who has replaced Steven J. Reid, joined Harris Associates as an analyst in 1981
and began managing portfolios in 1986. He holds an M.B.A. in Finance from the
University of Wisconsin-Madison (1977) and a B.A. in Economics and Religion from
Oberlin College (1974).
