<PAGE> 1
THE PARKSTONE GROUP OF FUNDS
THE LIFEWORKS FUNDS
Parkstone Conservative Allocation Fund
Parkstone Balanced Allocation Fund
Parkstone Aggressive Allocation Fund
Supplement dated June 30, 1997
to Prospectuses dated December 30, 1996
The Prospectus is hereby supplemented as follows:
FINANCIAL HIGHLIGHTS
Set forth below are unaudited "Financial Highlights" on a per share basis for
the Conservative Allocation Fund and the Aggressive Allocation Fund for the
period from commencement of operations through May 31, 1997. The Financial
Highlights are derived from the unaudited financial statements of the Funds for
the periods referenced. The Financial Highlights should be read in conjunction
with the unaudited financial statements, related notes and other information
included in the Statement of Additional Information.
<TABLE>
<CAPTION>
Conservative Aggressive
Allocation Allocation
Fund Fund
------------ ----------
December December
30, 30,
------------ ----------
1996 1996
to May 31, to May 31,
1997(a) 1997(a)
----------- ----------
<S> <C> <C>
NET ASSET VALUE, BEGINNING OF PERIOD $ 10.00 $ 10.00
------- -------
Income from Investment Activities
Net Investment Income (Loss) 0.12 0.06
Net Realized and Unrealized Gains (Losses)
on Investments 0.15 0.18
------- -------
Total from Investment Activities 0.27 0.24
Distributions
Net Investment Income (0.10) (0.05)
Net Realized Gains 0 0
------- -------
Total Distributions (0.10) (0.05)
------- -------
NET ASSET VALUE, END OF PERIOD $ 10.17 $ 10.19
======= =======
Total Return (excluding sales
and redemption charges) 2.67%(e) 2.43%(e)
RATIOS/SUPPLEMENTARY DATA;
Net Assets, End of Period (000) $10,174 $36,218
Ratio of Expenses to Average Net Assets 1.63%(c) 1.32%(c)
Ratio of Net Investment Income (Loss)
to Average Net Assets 3.17%(c) 1.71%(c)
Ratio of Expenses to Average Net Assets* 1.93%(c) 1.47%(c)
Ratio of Net Investment Income (Loss)
to Average Net Assets* 2.87%(c) 1.56%(c)
Portfolio Turnover Rate(d) 45.82% 42.34%
Average Commission Rate Paid(g) $0.0794 $0.0261
</TABLE>
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All footnotes are explained on page 6 of the Prospectus.
Investors should retain this supplement
with their prospectus for future reference
