REPUBLIC FUNDS
REPUBLIC NEW YORK TAX-FREE BOND FUND
REPUBLIC BOND FUND
REPUBLIC EQUITY FUND
REPUBLIC OVERSEAS EQUITY FUND
REPUBLIC OPPORTUNITY FUND
June 1, 2000
Supplement to the Prospectus dated February 29, 2000 for the Funds
The Board of Trustees of Republic New York Tax-Free Bond Fund and Republic
Bond Fund (the "Income Funds"), Republic Equity Fund, Republic Overseas Equity
Fund, and Republic Opportunity Fund (the "Equity Funds," together with the
Income Funds, the "Funds") has approved new sales charges for the Class A shares
of the Funds and the Class B shares of the Income Funds. Effective June 19, 2000
(the "Effective Date"), the maximum sales charge for the Class A shares of the
Income Funds will be 4.75%, the maximum sales charge for the Class A shares of
the Equity Funds will be 5.00%, and the maximum deferred sales charge for the
Class B shares of the Income Funds will be 4.00%.
Purchases of additional Class A shares of the Funds by persons who were
Class A shareholders of the Funds as of the Effective Date shall not be subject
to the new sales charges, but rather shall be subject to the sales charges in
effect prior to the Effective Date. Class B shares of the Income Funds acquired
before the Effective Date shall also not be subject to the new sales charges.
To reflect these new sales charges, the following changes are made to the
Prospectus:
1. References to the maximum sales charge (load) for the Class A shares of
the Funds and the maximum deferred sales charge (load) for the Class B shares of
the Income Funds on pages 8, 15, 22, 29 and 36 of the Prospectus are modified
accordingly.
2. The Examples provided for the Class A shares of the Funds and the Class
B shares of the Income Funds on pages 9, 16, 23, 30 and 37 of the Prospectus are
modified as set forth in the table below. Other entries in the Examples remain
unchanged.
The Income Funds
---------------------- ------------ ----------- ------------- ------------
Republic New York 1 Year 3 Years 5 Years 10 Years
Tax-Free Bond Fund
---------------------- ------------ ----------- ------------- ------------
Class A Shares $567 $814 $1,080 $1,839
---------------------- ------------ ----------- ------------- ------------
Class B Shares $573 $788 $1,029 $1,881
(Assuming
Redemption)
---------------------- ------------ ----------- ------------- ------------
Class B Shares $173 $588 $1,029 $1,881
(Assuming No
Redemption)
---------------------- ------------ ----------- ------------- ------------
Republic Bond Fund 1 Year 3 Years 5 Years 10 Years
---------------------- ------------ ----------- ------------- ------------
Class A Shares $582 $1,121 $1,685 $3,216
---------------------- ------------ ----------- ------------- ------------
Class B Shares $588 $1,103 $1,640 $3,262
(Assuming
Redemption)
---------------------- ------------ ----------- ------------- ------------
Class B Shares $188 $903 $1,640 $3,262
(Assuming No
Redemption)
---------------------- ------------ ----------- ------------- ------------
The Equity Funds
---------------------- ------------ ----------- ------------- ------------
Republic Equity Fund 1 Year 3 Years 5 Years 10 Years
---------------------- ------------ ----------- ------------- ------------
Class A Shares $591 $785 $994 $1,597
---------------------- ------------ ----------- ------------- ------------
Republic Overseas 1 Year 3 Years 5 Years 10 Years
Equity Fund
---------------------- ------------ ----------- ------------- ------------
Class A Shares $682 $1,064 $1,470 $2,601
---------------------- ------------ ----------- ------------- ------------
Republic Opportunity 1 Year 3 Years 5 Years 10 Years
Fund
---------------------- ------------ ----------- ------------- ------------
Class A Shares $659 $994 $1,352 $2,357
---------------------- ------------ ----------- ------------- ------------
3. The Sales Charge (Load) tables on pages 63 and 64 of the Prospectus are
modified as set forth below. Other portions of those tables remain unchanged.
The Income Funds
-------------------- -------------------------- --------------------------------
Class A Shares Class B Shares
Percentage of Percentage of
Sales Charge (Load) Offering Price Investment
-------------------- ------------------------------ --------------------------
Less than $50,000 4.75% 4.99% No front-end sales charge.
-------------------- ------------------------------ --------------------------
$50,000 but less
than $100,000 4.25% 4.44% A contingent sales charge
-------------------- ------------------------------ --------------------------
$100,000 but less
than $250,000 3.50% 3.63% (CDSC) may be imposed
-------------------- ------------------------------ --------------------------
$250,000 but less
than $500,000 2.50% 2.56% on shares redeemed within
-------------------- ------------------------------ --------------------------
$500,000 but less
than $1,000,000 2.00% 2.04% four years after purchase.
-------------------- ------------------------------ --------------------------
$1,000,000 and over 1.00% 1.01% Shares automatically
convert to Class A Shares
after 6 years.
-------------------- ----------------------------- --------------------------
The Equity Funds
--------------------------- --------------------------------- ------------------
Class A Shares Class B Shares
Percentage of Percentage of
Sales Charge (Load) Offering Price Investment
--------------------------- ---------------------------------- -----------------
Less than $50,000 5.00% 5.26% No Change
--------------------------- ---------------------------------- -----------------
$50,000 but less
than $100,000 4.50% 4.71%
--------------------------- ---------------------------------- -----------------
$100,000 but less
than $250,000 3.75% 3.90%
--------------------------- ---------------------------------- -----------------
$250,000 but less
than $500,000 2.50% 2.56%
--------------------------- ---------------------------------- -----------------
$500,000 but less
than $1,000,000 2.00% 2.04%
--------------------------- ---------------------------------- -----------------
$1,000,000 and over 1.00% 1.01%
--------------------------- ---------------------------------- -----------------
4. The table describing the CDSC for Class B shares of the Income Funds on
page 67 of the Prospectus shall be amended in its entirety to read as follows:
--------------------------------- ----------------------------------------------
Years Since Purchase CDSC as a % of Dollar Amount Subject to Charge
--------------------------------- ----------------------------------------------
0-1 4.00%
--------------------------------- ----------------------------------------------
1-2 3.00%
--------------------------------- ----------------------------------------------
2-3 2.00%
--------------------------------- ----------------------------------------------
3-4 1.00%
--------------------------------- ----------------------------------------------
more than 4 None
--------------------------------- ----------------------------------------------
5. The first bullet point paragraph of the section "Conversion Feature --
Class B Shares" on page 68 of the Prospectus shall be amended in its entirety to
read as follows:
"Class B Shares of the Funds will convert automatically to Class A Shares
of the same Fund after six years from the beginning of the calendar month in
which the Class B Shares were originally purchased."
