SUPPLEMENT dated October 31, 2000
To the PROSPECTUS of
Standish Fixed Income Fund
Standish World High Yield Fund
Standish Controlled Maturity Fund
Standish Short-Term Asset Reserve Fund
Dated: May 1, 2000
--------------------------------------------------------------------------------
Standish World High Yield Fund:
Standish, Ayer & Wood, Inc. ("Standish") has replaced Standish
International Management Company, LLC ("SIMCO") as the investment adviser for
the Standish World High Yield Fund. Standish has assumed all of SIMCO's
responsibilities under the investment advisory agreement between SIMCO and
Standish, Ayer & Wood Investment Trust on behalf of the Standish World High
Yield Fund. The contractual advisory fee rate payable under the agreement has
not changed.
Standish, a Massachusetts corporation, is the direct parent company of
SIMCO, owning 100% of SIMCO. Standish is also located at One Financial Center,
Boston Massachusetts 02111-2662.
All references to "Standish International Management Company, LLC" or
"SIMCO" in the attached Prospectus are hereby replaced by references to
"Standish, Ayer & Wood, Inc."
<PAGE>
SUPPLEMENT dated October 31, 2000
To the PROSPECTUS of
Standish International Fixed Income Fund (Institutional Class Shares)
Standish International Fixed Income Fund II
Standish Global Fixed Income Fund
Standish World High Yield Fund
Dated: May 1, 2000
Further Revised: August 1, 2000
--------------------------------------------------------------------------------
All Funds:
Standish, Ayer & Wood, Inc. ("Standish") has replaced Standish
International Management Company, LLC ("SIMCO") as the investment adviser for
each of the Standish International Fixed Income Fund (Institutional Class
Shares), Standish International Fixed Income Fund II, Standish Global Fixed
Income Fund and Standish World High Yield Fund. Standish has assumed all of
SIMCO's responsibilities under each investment advisory agreement between SIMCO
and Standish, Ayer & Wood Investment Trust on behalf of each Fund. The
contractual advisory fee rates payable under the agreements have not changed.
Standish, a Massachusetts corporation, is the direct parent company of
SIMCO, owning 100% of SIMCO. Standish is also located at One Financial Center,
Boston Massachusetts 02111-2662.
All references to "Standish International Management Company, LLC" or
SIMCO" in the attached Prospectus are hereby replaced by references to
"Standish, Ayer & Wood, Inc."
-----------------------------------------------------
The following information replaces the information in the Fund managers
table on page 15 of the attached Prospectus for each Fund:
Fund Fund managers Positions during the
past five years
International Fixed Income W. Charles Cook II Director, principal and
Fund vice president of
International Fixed Income Standish. Mr. Cook, a
Fund II Chartered Financial
Global Fixed Income Fund Analyst, is Chairman of
the Derivatives
Committee and is
responsible for
non-dollar bond research.
World High Yield Fund Dolores S. Driscoll Director, principal and
vice president of
Standish. Ms. Driscoll
is a Chartered Financial
Analyst and portfolio
manager.
<PAGE>
SUPPLEMENT dated October 31, 2000
To the PROSPECTUS of
Standish International Fixed Income Fund
Service Class Shares
Dated: May 1, 2000
--------------------------------------------------------------------------------
Standish, Ayer & Wood, Inc. ("Standish") has replaced Standish
International Management Company, LLC ("SIMCO") as the investment adviser for
the Standish International Fixed Income Fund (Service Class Shares). Standish
has assumed all of SIMCO's responsibilities under the investment advisory
agreement between SIMCO and Standish, Ayer & Wood Investment Trust on behalf of
the fund. The contractual advisory fee rate payable under the agreement has not
changed.
Standish, a Massachusetts corporation, is the direct parent company of
SIMCO, owning 100% of SIMCO. Standish is also located at One Financial Center,
Boston Massachusetts 02111-2662.
All references to "Standish International Management Company, LLC" and
"SIMCO" in the attached Prospectus are hereby replaced by references to
"Standish, Ayer & Wood, Inc."
------------------------------------------
The following information replaces the information in the Fund managers
table on page 8 of the attached Prospectus for the Standish International Fixed
Income Fund (Service Class Shares):
Fund Fund managers Positions during the
past five years
International Fixed Income W. Charles Cook II Director, principal and
Fund II vice president of
Standish. Mr. Cook, a
Chartered Financial
Analyst, is Chairman of
the Derivatives
Committee and is
responsible for
non-dollar bond research.
<PAGE>
SUPPLEMENT dated October 31, 2000
To the PROSPECTUS of
Standish Select Value Fund
(formerly Standish Equity Fund)
Standish Small Capitalization Equity Fund
Standish Small Cap Growth Fund
(formerly Standish Small Capitalization Equity Fund II)
(Institutional Class Shares)
Standish Small Cap Value Fund
Standish International Equity Fund
Standish International Small Cap Fund
Dated: January 31, 2000
Revised: July 1, 2000
Further Revised: August 9, 2000
Further Revised: October 20, 2000
Further Revised: October 23, 2000
--------------------------------------------------------------------------------
Standish International Equity Fund and Standish International Small Cap Fund:
Standish, Ayer & Wood, Inc. ("Standish") has replaced Standish
International Management Company, LLC ("SIMCO") as the investment adviser for
each of the Standish International Equity Fund and Standish International Small
Cap Fund. Standish has assumed all of SIMCO's responsibilities under each
investment advisory agreement between SIMCO and Standish, Ayer & Wood Investment
Trust on behalf of each Fund. The contractual advisory fee rates payable under
the agreements have not changed.
Standish, a Massachusetts corporation, is the direct parent company of
SIMCO, owning 100% of SIMCO. Standish is also located at One Financial Center,
Boston Massachusetts 02111-2662.
All references to "Standish International Management Company, LLC" or
"SIMCO" in the attached Prospectus are hereby replaced by references to
"Standish, Ayer & Wood, Inc".
<PAGE>
SUPPLEMENT dated October 31, 2000
To the Statement of Additional Information of
Standish Fixed Income Fund
Standish World High Yield Fund
Standish Controlled Maturity Fund
Standish Short-Term Asset Reserve Fund
Dated: May 1, 2000
--------------------------------------------------------------------------------
Standish World High Yield Fund:
Standish, Ayer & Wood, Inc. ("Standish") has replaced Standish
International Management Company, LLC ("SIMCO") as the investment adviser for
the Standish World High Yield Fund. Standish has assumed all of SIMCO's
responsibilities under the investment advisory agreement between SIMCO and
Standish, Ayer & Wood Investment Trust on behalf of the Standish World High
Yield Fund. The contractual advisory fee rate payable under the agreement has
not changed.
Standish, a Massachusetts corporation, is the direct parent company of
SIMCO, owning 100% of SIMCO. Standish is also located at One Financial Center,
Boston Massachusetts 02111-2662.
All references to "Standish International Management Company, LLC" or
"SIMCO" in the attached Statement of Additional Information are hereby replaced
by references to "Standish, Ayer & Wood, Inc."
-----------------------------------------------------
The following sentence is added to the end of the second paragraph under
the Purchase and Redemption of Shares section on page 49 of the attached
Statement of Additional Information.
Shares of the funds purchased through authorized brokers and dealers may
be subject to transaction fees on purchases or redemptions, no part of
which will be received by any of the funds, Standish Fund Distributors or
Standish.
<PAGE>
SUPPLEMENT dated October 31, 2000
To the Statement of Additional Information of
Standish International Fixed Income Fund (Institutional Class Shares)
Standish International Fixed Income Fund II
Standish Global Fixed Income Fund
Standish World High Yield Fund
Dated: May 1, 2000
--------------------------------------------------------------------------------
All Funds:
Standish, Ayer & Wood, Inc. ("Standish") has replaced Standish
International Management Company, LLC ("SIMCO") as the investment adviser for
each of the Standish International Fixed Income Fund (Institutional Class
Shares), Standish International Fixed Income Fund II, Standish Global Fixed
Income Fund and Standish World High Yield Fund. Standish has assumed all of
SIMCO's responsibilities under each investment advisory agreement between SIMCO
and Standish, Ayer & Wood Investment Trust on behalf of each Fund. The
contractual advisory fee rates payable under the agreements have not changed.
Standish, a Massachusetts corporation, is the direct parent company of
SIMCO, owning 100% of SIMCO. Standish is also located at One Financial Center,
Boston Massachusetts 02111-2662.
All references to "Standish International Management Company, LLC" or
"SIMCO" in the attached Statement of Additional Information are hereby replaced
by references to "Standish, Ayer & Wood, Inc."
-----------------------------------------------------
The following sentence is added to the end of the second paragraph under
the Purchase and Redemption of Shares section on page 45 of the attached
Statement of Additional Information.
Shares of the funds purchased through authorized brokers and dealers may
be subject to transaction fees on purchases or redemptions, no part of
which will be received by any of the funds, Standish Fund Distributors or
Standish.
<PAGE>
SUPPLEMENT dated October 31, 2000
To the Statement of Additional Information of
Standish High Grade Bond Fund
Dated: June 1, 2000
--------------------------------------------------------------------------------
The following sentence is added to the end of the second paragraph under
the Purchase and Redemption of Shares section on page 26 of the attached
Statement of Additional Information.
Shares of the fund purchased through authorized brokers and dealers may be
subject to transaction fees on purchases or redemptions, no part of which
will be received by the fund, Standish Fund Distributors or Standish.
<PAGE>
SUPPLEMENT dated October 31, 2000
To the Statement of Additional Information of
Standish Tax-Sensitive Equity Fund
Standish Small Cap Tax-Sensitive Equity Fund
Standish Intermediate Tax Exempt Bond Fund
Standish Massachusetts Intermediate Tax Exempt Bond Fund
Dated: January 31, 2000
--------------------------------------------------------------------------------
All Funds:
The following sentence is added to the end of the second paragraph under
the Purchase and Redemption of Shares section on page 38 of the attached
Statement of Additional Information.
Shares of the funds purchased through authorized brokers and dealers may
be subject to transaction fees on purchases or redemptions, no part of
which will be received by any of the funds, Standish Fund Distributors or
Standish.
<PAGE>
SUPPLEMENT dated October 31, 2000
To the Statement of Additional Information of
Standish International Fixed Income Fund
Service Class Shares
Dated: May 1, 2000
--------------------------------------------------------------------------------
Standish, Ayer & Wood, Inc. ("Standish") has replaced Standish
International Management Company, LLC ("SIMCO") as the investment adviser for
the Standish International Fixed Income Fund (Service Class Shares). Standish
has assumed all of SIMCO's responsibilities under the investment advisory
agreement between SIMCO and Standish, Ayer & Wood Investment Trust on behalf of
the fund. The contractual advisory fee rate payable under the agreement has not
changed.
Standish, a Massachusetts corporation, is the direct parent company of
SIMCO, owning 100% of SIMCO. Standish is also located at One Financial Center,
Boston Massachusetts 02111-2662.
All references to "Standish International Management Company, LLC" or
"SIMCO" in the attached Statement of Additional Information are hereby replaced
by references to "Standish, Ayer & Wood, Inc."
-----------------------------------------------------
The following sentence is added to the end of the second paragraph under
the Purchase and Redemption of Shares section on page 36 of the attached
Statement of Additional Information.
Shares of the fund purchased through authorized brokers and dealers may be
subject to transaction fees on purchases or redemptions, no part of which
will be received by the fund, Standish Fund Distributors or Standish.
<PAGE>
SUPPLEMENT dated October 31, 2000
To the STATEMENT OF ADDITIONAL INFORMATION of
Standish Select Value Asset Fund
(formerly Standish Equity Asset Fund)
Standish Small Cap Growth Fund
(formerly Standish Small Capitalization Equity Fund II)
(Service Class Shares)
Dated: January 31, 2000
Revised: July 1, 2000
--------------------------------------------------------------------------------
Standish Select Value Asset Fund (formerly Standish Equity Asset Fund):
Standish Equity Asset Fund is changing its name to Standish Select Value
Asset Fund. Accordingly, the name Standish Select Value Asset Fund replaces all
references to the name Standish Equity Asset Fund in the attached Statement of
Additional Information.
------------------------
On page 2 of the attached Statement of Additional Information under the
heading Master/Feeder Structure, the name of the Standish Equity Portfolio is
changing to Standish Select Value Portfolio. Accordingly, all references to the
name Equity Portfolio in the attached Statement of Additional Information are
replaced with the name Select Value Portfolio.
------------------------
On page 24 of the attached Statement of Additional Information under the
heading Calculation of Performance Data, the third sentence of the first full
paragraph is revised to read:
In particular, Select Value Asset Fund may compare its performance to the
Russell 1000 Value Index, which is generally considered to be
representative of those Russell 1000 companies with value characteristics.
The Russell 1000 Index is generally considered to be representative of
unmanaged large capitalization stocks in the United States markets.
------------------------
Standish Select Value Asset Fund and Standish Small Cap Growth Fund:
The following sentence is added to the end of the second paragraph under
the Purchase and Redemption of Shares section on page 30 of the attached
Statement of Additional Information.
Shares of the fund purchased through authorized brokers and dealers may be
subject to transaction fees on purchases or redemptions, no part of which
will be received by the fund, Standish Fund Distributors or Standish.
<PAGE>
SUPPLEMENT dated October 31, 2000
To the Statement of Additional Information of
Standish Select Value Fund
(formerly Standish Equity Fund)
Standish Small Capitalization Equity Fund
Standish Small Cap Growth Fund
(formerly Standish Small Capitalization Equity Fund II)
(Institutional Class Shares)
Standish Small Cap Value Fund
Standish International Equity Fund
Standish International Small Cap Fund
Dated: January 31, 2000
Revised: July 1, 2000
--------------------------------------------------------------------------------
All Funds:
Standish, Ayer & Wood, Inc. ("Standish") has replaced Standish
International Management Company, LLC ("SIMCO") as the investment adviser for
each of the Standish International Equity Fund and Standish International Small
Cap Fund. Standish has assumed all of SIMCO's responsibilities under each
investment advisory agreement between SIMCO and Standish, Ayer & Wood Investment
Trust on behalf of each Fund. The contractual advisory fee rates payable under
the agreements have not changed.
Standish, a Massachusetts corporation, is the direct parent company of
SIMCO, owning 100% of SIMCO. Standish is also located at One Financial Center,
Boston Massachusetts 02111-2662.
All references to "Standish International Management Company, LLC" or
"SIMCO" in the attached Statement of Additional Information are hereby replaced
by references to "Standish, Ayer & Wood, Inc."
-----------------------------------------------------
The following sentence is added to the end of the second paragraph under
the Purchase and Redemption of Shares section on page 39 of the attached
Statement of Additional Information.
Shares of the funds purchased through authorized brokers and dealers may
be subject to transaction fees on purchases or redemptions, no part of
which will be received by any of the funds, Standish Fund Distributors or
Standish.
