THE PBHG FUNDS, INC.
SUPPLEMENT DATED JUNE 27, 1997
TO THE
PROSPECTUS DATED MAY 20, 1997
This Supplement updates certain information contained in the above-referenced
Prospectus of The PBHG Funds, Inc. (the "Fund"). You should retain both this
Supplement and the Prospectus for future reference. You may obtain an additional
copy of the Prospectus, free of charge, by calling 1-800-433-0051.
The following information replaces the fifth paragraph on the cover page of the
Prospectus:
As of the date of this Supplement to the Prospectus, the PBHG Class
shares of the PBHG Select Equity Fund are open to new investments. In
addition, the PBHG Class shares of the PBHG Limited Fund are open to
new investments by existing PBHG Class shareholders of the PBHG
Limited Fund. The existing PBHG Class shareholders of the PBHG Limited
Fund may open new accounts in the PBHG Limited Fund, provided that any
new account is registered in the same name or has the same social
security number or taxpayer identification number as the existing
shareholder's account. The decision to reopen the PBHG Select Equity
Fund and PBHG Limited Fund as described above does not affect the
status of any other Portfolio or class of shares of The PBHG Funds,
Inc.
The following information replaces the last four sentences in the last
paragraph under the caption "How to Purchase Fund Shares" on page 24 of the
Prospectus:
Shares of the PBHG Limited Fund are currently offered only to existing
shareholders of the PBHG Class shares of the Portfolio. The PBHG
Limited Fund may recommence offering its shares to new investors in
the future, provided that the Board of Directors determines that doing
so would be in the best interest of the Portfolio and its
shareholders.
The following information replaces the first sentence under the caption
"Counsel and Independent Accountants" on page 38 of the Prospectus:
Ballard Spahr Andrews & Ingersoll serves as counsel to the Fund.
PBHG - Supplement7/97
