PSBDI-1-399
PSBDI-1-399x
Chase Vista Bond Funds
Supplement Dated October 1, 1999
Institutional Shares Class-
Prospectus Dated February 26, 1999
The first sentence of the second paragraph under the heading "Distribution and
Taxes" on page 36 of the prospectus is replaced with the following:
The Bond Fund and U.S. Government Securities Fund declare dividends on a daily
basis. The Strategic Income and Short-Term Bond Funds declare dividends on a
monthly basis. All Funds distribute the net investment income monthly.
The following paragraphs replace "The Portfolio Manager" section on page 32 of
the Prospectus:
Short-Term Bond Fund
The portfolio managers are Andrew Russell, a Vice President and Portfolio
Manager at Chase and Timothy Neumann. They have been responsible for the Fund
since June 1996 and October 1999 respectively. Mr. Russell joined Chase in 1990
and has held several positions within the U.S. fixed income area, including
portfolio analyst, taxable fixed-income trader and assistant trader. Mr. Russell
is a member of the U.S. fixed income area's quantitative research team. Mr.
Neumann has been active in the asset management business since 1984 with
experience in both managing and trading fixed income portfolios. Before joining
Chase, Mr. Neumann was the portfolio manager for Lehman Brothers Global Asset
Management mortgage-backed securities accounts. Prior to Lehman, he managed
fixed income portfolios at Allstate Insurance.
U.S. Government Securities Fund
The portfolio managers are Michael Bennis, a Vice President and Senior Portfolio
Manager at Chase and Timothy Neumann. They have been responsible for the Fund
since December 1996 and October 1999 respectively. Before joining Chase in 1996,
Mr. Bennis was a senior analyst and trader at Union Bank of Switzerland Asset
Management. Prior to joining Union Bank of Switzerland, he was a fixed income
analyst at Donaldson, Lufkin & Jenrette.
Bond Fund
The portfolio managers are Mr. Russell and Timothy Neumann. Mr. Russell has been
responsible for the Fund since May 1998. Mr. Neumann has been responsible for
the Funds since October of 1999. Mr. Neumann, has been active in the asset
management business since 1984 with experience in both managing and trading
fixed income portfolios. Before joining Chase, Mr. Neumann was the portfolio
manager for Lehman Brothers Global Asset Management mortgage-backed securities
accounts. Prior to Lehman, he managed fixed income portfolios at Allstate
Insurance.
Strategic Income Fund
Craig Blessing and Leonard Lovito, a Vice President and Senior Portfolio Manager
at Chase, are responsible for the management of the Fund since it's inception.
Mr. Blessing joined Chase in
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1996. Between 1992 and 1996, he was Director of the Fund Management Group and
Portfolio Manager for emerging market funds at Serfin Securities, Inc. From 1985
to 1992, Mr. Blessing was a Vice President at Bank of America, where he was a
founding member and co-head of the Emerging Market Debt Sales & Trading Group.
Mr. Lovito joined Chase in 1998. Prior to joining Chase, from 1984 to 1998, Mr.
Lovito was Vice Presindent at J & W Seligman & Co., Inc. where he managed a
number of fixed income portfolios and mutual funds. Prior to joining Seligman,
Mr. Lovito was a senior Secucuties Adminisrator in the investment department of
the Dime Savings Bank of New York.
Bartlett R. Greer, a Senior Vice President of SSR, has been responsible for
management of the Fund's lower rated, high yield securities of U.S. issuers
since the Fund's inception. Mr. Greer joined SSR in 1981 and manages other
institutional accounts, including mutual funds, that invest in high yield and
other securities.
PSDI2-36-1099
