SUPPLEMENT dated June 26, 1997
To the PROSPECTUS of
STANDISH INTERNATIONAL FIXED INCOME FUND
STANDISH GLOBAL FIXED INCOME FUND
Dated May 1, 1997
The following paragraph replaces the last paragraph on page 16 of the
attached prospectus:
The Global Fixed Income Portfolio's and the International
Fixed Income Fund's co-portfolio managers are Richard S. Wood and W.
Charles Cook II (since June 1997). Mr. Wood has been the portfolio
manager of the Funds' portfolios since their inception and of the
Portfolio's portfolio since the Global Fixed Income Fund's conversion
to the master-feeder structure on May 3, 1996. During the past five
years, Mr. Wood has served as a Vice President and a Managing Director
(since 1995) of Standish, Executive Vice President of SIMCO, and
President of the Trust and the Portfolio Trust (since 1996). During the
past five years, Mr. Cook has served as a Vice President and Associate
Director of Standish, a Vice President of SIMCO, and a Vice President
of the Trust (since 1987) and the Portfolio Trust (since 1996). Prior
to serving as co-portfolio manager of the Global Fixed Income Portfolio
and the International Fixed Income Fund, Mr. Cook served as an analyst.
