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MONITOR FUNDS
SUPPLEMENT DATED JANUARY 11, 1996 TO
PROSPECTUSES DATED APRIL 30, 1995
INVESTMENT SHARES TRUST SHARES
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED
IN THE PROSPECTUSES AND SHOULD BE RETAINED AND READ IN CONJUNCTION WITH SUCH
PROSPECTUSES.
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Effective January 11, 1996 all references in the prospectuses dated April 30,
1995 of Monitor Funds (the "Trust") to "Federated Administrative Services" as
administrator and Federated Securities Corp. as distributor of the Trust are
hereby replaced with SEI Financial Management Corporation. and SEI Financial
Services Company, respectively, and all references to "Federated Services
Company" as transfer agent and dividend disbursing agent of the Trust are hereby
replaced with SEI Financial Management Corporation.
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The information provided in the "Administration of Funds" section of the
Trust's prospectuses dated April 30, 1995 is hereby replaced in its entirety
with the following: "As Administrator of the Trust, SEI Financial Management
Corporation is entitled to receive an annual administrative fee at a maximum
rate of .11% of each Portfolio's average daily net assets for services
performed under the Administration Agreement dated January 11, 1996 between SEI
Financial Management Corporation and the Trust. SEI Financial Management
Corporation and SEI Financial Services Company are located at 680 E. Swedesford
Road, Wayne, PA 19087".
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
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MONITOR FUNDS
SUPPLEMENT DATED JANUARY 11, 1996
TO STATEMENT OF ADDITIONAL INFORMATION DATED
APRIL 30, 1995
Effective January 11, 1996 all references in the Statement of Additional
Information dated April 30, 1995 of Monitor Funds (the "Trust") to "Federated
Administrative Services" ("Federated") as administrator and "Federated
Securities Corp." as distributor of the Trust are hereby replaced with SEI
Financial Management Corporation. and SEI Financial SErvices Company,
respectively, all references to "Federated Services Company" as transfer agent
and dividend disbursing agent for the Trust are hereby replaced with SEI
Financial Management Corporation.
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The following information is hereby added to the "Administrator" section of the
Trust's Statement of Additional Information dated April 30, 1995: "SEI
Financial Management Corporation ("SFM") serves as administrator to the Trust
pursuant to an Administration Agreement dated January 11, 1996. SFM is entitled
to receive an annual administrative fee at a maximum rate of .11% of each
Portfolio's average daily net assets for services performed under the
Administration Agreement. SFM is located at 680 E. Swedesford Road, Wayne, PA
19087".
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The information with respect to Messrs. Gonzales, Petnuch and Huber in the
"Trustees and Officers" section of the Trust's Statement of Additional
Information dated April 30, 1995 is hereby replaced with the following
information:
David G. Lee--680 E. Swedesford Road, Wayne, PA 19087, President and Chief
Executive Officer. Senior Vice President of the Administrator and Distributor
since 1993. Vice President of the Administrator and Distributor (1991-1993).
President, GW Sierra Trust Funds before 1991.
Stephen G. Meyer--680 E. Swedesford Road, Wayne, PA 19087, Controller,
Treasurer and Chief Financial Officer. Vice President and Controller--Fund
Resources, a division of SEI Corporation since March 1995. Director--Internal
Audit and Risk Management--SEI Corporation (1992-1995). Senior Associate with
Coopers & Lybrand LLP (1990-1992).
Kathryn L. Stanton--680 E. Swedesford Road, Wayne, PA 19087, Vice President and
Secretary. Vice President and Assistant Secretary of SEI Corporation, since
1994. Associate with Morgan, Lewis & Bockius (1989-1994).
Sandra K. Orlow--680 E. Swedesford Road, Wayne, PA 19087, Vice President and
Assistant Secretary. Vice President and Assistant Secretary of SEI Corporation,
since 1983.
Robert B. Carroll--680 E. Swedesford Road, Wayne, PA 19087, Vice President and
Assistant Secretary. Vice President and Assistant Secretary of SEI Corporation
since 1994. Attorney with the Securities and Exchange Commission, Division of
Investment Management (1990-1994).
Kevin P. Robins--680 E. Swedesford Road, Wayne, PA 19087, Vice President and
Assistant Secretary. Senior Vice President, General Counsel and Secretary of
SEI Corporation since 1994. Vice President and Assistant Secretary of SEI
Corporation (1992-1994). Associate with Morgan, Lewis & Bockius (1988-1992).
Todd Cipperman--680 E. Swedesford Road, Wayne, PA 19087, Vice President and
Assistant Secretary. Vice President and Assistant Secretary of SEI Corporation
since 1995. Associate with Dewey Ballantine (1994-1995), Associate with Winston
& Strawn (1991-1994).
Joseph M. Lydon--680 E. Swedesford Road, Wayne, PA 19087, Vice President and
Assistant Secretary. Director of Business Administration--Fund Resources, a
division of SEI Corporation since 1995. Vice President of Fund Group, Vice
President of the Advisor--Dreman Value Management, LP and President of Dreman
Financial Services, Inc. (1989-1995).
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THIS SUPPLEMENT SHOULD BE RETAINED AND READ IN CONJUNCTION WITH THE TRUST'S
STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 30, 1995.
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