THE RODNEY SQUARE
STRATEGIC EQUITY FUND
Supplement dated September 9, 1998
to the Fund's Prospectus
dated June 29, 1998
In lieu of the first paragraph on page 25, please substitute the following:
A "growth" team led by E. Matthew Brown, Vice President, is
responsible for the day-to-day management of the Large Cap Growth Equity
Portfolio and the growth portion of the Small Cap Equity Portfolio. Mr.
Brown joined WTC in October of 1996. Prior to joining WTC, he served as
Chief Investment Officer of PNC Bank, Delaware, from 1993 through 1996,
and as Investment Division Manager for Delaware Trust Capital Management
from 1990 through 1993. A "value" team led by Jonathan F. Kolle is
responsible for the day-to-day management of the Large Cap Value Equity
Portfolio and the value portion of the Small Cap Equity Portfolio. Mr.
Kolle, a chartered financial analyst, joined WTC's investment group as a
senior equity analyst and portfolio manager in 1991. He currently manages
WTC's Value Equity Division, overseeing both mid/large cap and small cap
value strategies. Prior to joining WTC, he served as Assistant Vice
President in the Corporate Finance Group of Shawmut National Corporation
in Philadelphia, PA. With respect to the International Equity Portfolio,
Robert J. Christian, Chief Investment Officer of WTC, or his delegate, is
primarily responsible for monitoring the day-to-day investment activities
of the sub-advisers to the Portfolio. Mr. Christian has been a Director of
RSMC since February 1996, and was Chairman and Director of PNC Equity
Advisors Company, and President and Chief Investment Officer of PNC Asset
Management Group, Inc. from 1994 to 1996. He was Chief Investment Officer
of PNC Bank, N.A. from 1992 to 1996 and Director of Provident Capital
Management from 1993 to 1996.
