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HIGHMARK FUNDS
MONEY MARKET FUNDS
SUPPLEMENT DATED JUNE 1, 1998 TO
RETAIL SHARES PROSPECTUS DATED NOVEMBER 30, 1997
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUS FOR FUTURE REFERENCE
CAPITALIZED TERMS USED HEREIN HAVE THE SAME MEANING AS IN THE PROSPECTUS
This supplement provides new and additional information beyond that contained
in the Prospectus and should be retained and read in conjunction with such
Prospectus.
Effective July 1, 1998, the following information will be added under
"REDEMPTION OF SHARES" on page 26:
Redemption By Checkwriting
Checkwriting is available to Shareholders of the Funds who have purchased
Retail Shares directly from the Funds without the help of an investment
professional. HighMark will provide Shareholders of record, upon request and
without charge, with checks drawn on the Fund in which they have an account.
Shareholders will be required to sign signature cards and will be subject to any
applicable rules and regulations of the clearing bank relating to check
redemption privileges.
Checks drawn on the Funds may be made payable to the order of any payee in an
amount of $500 or more. Shareholders should be aware that, as in the case with
bank checks, certain banks may not provide cash at the time of deposit, but will
wait until they have received payment from the clearing bank. When a check is
presented to the clearing bank for payment, subject to the Fund's acceptance of
the check, the clearing bank, as agent, causes the Fund to redeem, at the net
asset value next determined after such presentation, a sufficient number of full
and fractional shares in the shareholder's account to cover the amount of the
check. Checks will be returned by the clearing bank if there are insufficient
shares to meet the withdrawal amount. Shareholders of record wishing to use this
method of redemption should check the appropriate box on the Account
Application, obtain a signature card by calling 1-800-433-6884, and mail the
completed form and signature card to the transfer agent at P.O. Box 8416,
Boston, Massachusetts 02266-8416. There is no charge for the clearance of any
checks, although the clearing bank will impose its customary overdraft fee in
connection with returning any checks as to which there are insufficient shares
to meet the withdrawal amount. As of the date of this Supplement, the overdraft
fee was $20. Shareholders are permitted to write a maximum of five checks per
month. A charge of $25 will be assessed to the account of a Shareholder who
writes more than the permitted maximum amount of checks per month. Shareholders
may not use a check to close their account.
HMMM-R-6-98
