EASTCLIFF FUNDS
SUPPLEMENT TO THE PROSPECTUS DATED
DECEMBER 30, 1997
On April 21, 1998 Patrice J. Neverett, Senior Vice President and
Portfolio Manager of Palm Beach Investment Advisers, Inc. became the sole
portfolio manager of the Eastcliff Total Return Fund.
Ms. Neverett had been a co-portfolio manager of the Eastcliff
Total Return Fund since July 1, 1995, and has been employed by Palm Beach
Investment Advisers, Inc. in various capacities since it was founded in
August 1990.
The date of this Supplement is May 22, 1998.
