SUPPLEMENT dated May 4, 2000
To the PROSPECTUS of
Standish Fixed Income Fund II
Standish Securitized Fund
Dated: May 1, 2000
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The following information replaces the information under the heading
Dividends and distributions on page 12 of the attached Prospectus for each fund:
Each fund intends to distribute all or substantially all of its net
investment income and realized capital gains, if any, for each taxable
year. The funds declare dividends from net investment income daily and
distribute dividends from net investment income monthly. Both funds
declare and distribute net capital gains, if any, annually. All dividends
and capital gains are reinvested in shares of the fund that paid them
unless the shareholder elects to receive them in cash. Substantially all
of a fund's distributions will be from net investment income.
