THE KENT FUNDS
Supplement dated January 5, 1999
to the Prospectus dated May 1, 1998
(as supplemented on September 24, 1998)
.
Proposed Plan of Reorganization
The Board of Trustees has approved a Plan of Reorganization whereby the assets
and liabilities of the Limited Term Tax-Free Fund would be transferred to the
Intermediate Tax-Free Fund. Proxy materials will be mailed to shareholders of
the Limited Term Tax-Free Fund seeking approval of the proposed reorganization.
If the reorganization is approved by the shareholders of the Limited Term
Tax-Free Fund, shareholders of the Limited Term Tax-Free Fund will become
shareholders of the Intermediate Tax-Free Fund upon consummation of the
reorganization.
Modification of Investment Policy - Government Money Market Fund
The following paragraph replaces the paragraph entitled "PRINCIPAL INVESTMENTS"
within the section entitled "What Funds are Offered? - Government
Money Market Fund":
PRINCIPAL INVESTMENTS: The Fund will invest exclusively in U.S.
Treasury bills, notes and other obligations issued by the U.S.
Government, its agencies or instrumentalities, repurchase agreements
with respect to such securities and shares of registered money market
investment companies that invest exclusively in such securities.
The following paragraph replaces the first paragraph under the section entitled
"What Instruments Do the Funds Invest In?":
The Funds may also invest in the securities and use the investment
techniques described below, except that the Government Money Market
Fund will purchase only U.S. Treasury bills, notes and other
obligations issued by the U.S. Government, its agencies or
instrumentalities, repurchase agreements with respect to such
securities and shares of registered money market investment companies
that invest exclusively in such securities. Each of these securities
and techniques is described in more detail under "Investment Policies"
in the SAI.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUS FOR FUTURE REFERENCE
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THE KENT FUNDS
Supplement dated January 5, 1999
to the
Statement of Additional Information
dated May 1, 1998
(as supplemented on September 24, 1998)
Resignation of Trustee
Effective as of November 13, 1998, Michele Van Dyke resigned as a
member of the Board of Trustees of the Kent Funds.
Modification of Investment Policy - Government Money Market Fund
The following paragraph replaces the first paragraph under the heading
"INVESTMENT POLICIES":
The following information supplements the description of each
Fund's investment objective and policies as set forth in the
prospectus. The investment policies discussed below are applicable to
all Funds unless otherwise noted, except that the Government Money
Market Fund will purchase only U.S. Treasury bills, notes and other
obligations issued by the U.S. Government, its agencies or
instrumentalities, repurchase agreements with respect to such
securities and shares of registered money market investment companies
that invest exclusively in such securities.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE STATEMENT OF ADDITIONAL INFORMATION
FOR FUTURE REFERENCE
