U.S. GLOBAL LEADERS GROWTH FUND,
A SERIES OF PROFESSIONALLY MANAGED PORTFOLIOS
SUPPLEMENT DATED APRIL 19, 2000
TO PROSPECTUS DATED OCTOBER 29, 1999
MANAGEMENT OF THE FUND
George P. Fraise, Executive Vice President of the Advisor, has joined George M.
Yeager, President of the Advisor, in managing the Fund. Mr. Fraise joined the
Advisor in early 2000 and is a member of its Investment Policy Committee. Prior
to joining the Advisor, Mr. Fraise was associated with Scudder Kemper
Investments where he was a portfolio manager for the Scudder Large Company
Growth Fund and a co-lead manager for the Kemper Growth Fund.
REDEMPTION FEE
The Fund is intended for long-term investors. Short-term "market timers" who
engage in frequent purchases and redemptions can disrupt the Fund's investment
program and create additional transaction costs that are borne by all
shareholders. For these reasons, effective May 1, 2000, the Fund will assess a
2.00% fee on redemptions of Fund shares purchased and held for less than six
months. This fee will be paid to the Fund to help offset transaction costs and
administrative expenses.
