THE BLANCHARD GROUP OF FUNDS
Blanchard Short-Term Bond Fund
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 7, 1995
Effective immediately, the name of the Blanchard Short -Term Bond Fund has
been changed to Blanchard Short-Term Flexible Income Fund.
October 10, 1995
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
093212405
G01335-21 (10/95)
THE BLANCHARD GROUP OF FUNDS
Blanchard Growth & Income Fund
Blanchard Capital Growth Fund
SUPPLEMENT TO STATEMENTS OF ADDITIONAL INFORMATION BOTH DATED AUGUST 7,
1995
On page one of the Statement of Additional Information, please change the
Transfer Agent to the following:
"Federated Services Company"
October 6, 1995
FEDERATED SECURITIES CORP.
Distributor
A subsidiary of Federated Investors
Federated Investors Tower
Pittsburgh, PA 15222-3779
093265304
093265403
G01335-19(10/95)
