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THE PASADENA GROUP OF MUTUAL FUNDS
THE PASADENA GLOBAL GROWTH FUND
THE PASADENA SMALL & MID-CAP GROWTH FUND
RULE 497(e)
File Nos. 33-1922;811-4506
SUPPLEMENT DATED DECEMBER 1, 1996 TO
PROSPECTUS DATED SEPTEMBER 1, 1996 OF
Beginning December 1, 1996, the Class C shares of each of The Pasadena
Global Growth Fund and The Pasadena Small & Mid-Cap Growth Fund are subject to a
contingent deferred sales charge ("CDSC") of 1% of the offering price imposed on
non-exempt redemptions made within the first year of purchase (see page 18 for a
discussion of exempt redemptions and waivers of contingent deferred sales
charges.) This addition of a CDSC to the Class C shares is not reflected in the
attached prospectus, and the discussions of CDSCs on pages 3, 4, 14, 18, and 21
of the attached prospectus should be read by an investor to include a CDSC on
the Class C shares for non-exempt redemptions made within one year of purchase.
Please note the specific items that are affected by the addition of
this CDSC:
- Page 4, Expense and Fee Tables -- a 1% deferred sales charge
applies to the Class C shares.
- Page 4, Example of Transaction and Operating Expenses -- for
Class C shareholders redeeming after one year, transaction and
operating expenses would be $37 (Global Growth) and $36 (Small &
Mid-Cap Growth).
