NORTHSTAR BALANCE SHEET OPPORTUNITIES FUND
Prospectus Supplement dated July 1, 1999
to Prospectus dated March 1, 1999
The disclosure on pages 2 and 4 of the Northstar Balance Sheet Opportunities
Fund Prospectus is hereby amended to reflect that:
Effective July 1, 1999, the Northstar Balance Sheet Opportunities Fund's sole
portfolio manager will be Jeffrey Aurigemma. Mr. Aurigemma is also Portfolio
Manager of the Northstar High Total Return Fund, Northstar High Total Return
Fund II, Northstar High Yield Fund and Northstar Galaxy Trust High Yield Bond
Portfolio. Mr. Aurigemma has been with Northstar since October 1993. He has over
nine years of experience in the management of high yield fixed income
investments. Prior to joining Northstar, Mr. Aurigemma was a Senior Analyst -
Fixed Income for National Securities & Research Corporation. Mr. Dial's
biography, which appears on page 4, is hereby deleted.
