<PAGE>
Filed Pursuant to Rule 497(e)
Registration No. 33-16439
FUND PROSPECTUS SUPPLEMENT
to Class A Prospectus dated April 1, 1997
The section of the Prospectus entitled "Short Sales," appearing on page 14,
is amended: (i) by deleting the reference to the Global Low-Priced Stock Fund
in the introductory parenthetical and (ii) by adding at the end of the
section the following:
"The Contrarian Fund may enter into short sales on securities with a value of
up to 40% of the Fund's total assets, and its positions in short sales may
have the effect of providing the Fund with investment leverage. To the
extent the Fund enters into short sales on a substantial portion of its
assets, the Fund will to that extent be exposed to the risks of short sales
described above. For a description of the effects and the risks of investment
leverage, see 'Borrowing and Leverage' in this Prospectus.
"Each of the other Funds may enter into short sales on securities with a value
of up to 25% of the Fund's total assets. (The Global Low-Priced Stock Fund will
only enter into short sales on securities which it owns, for hedging purposes).
A Fund's ability to engage in short sales may be limited by tax considerations."
May 5, 1997
ROBERTSON STEPHENS INVESTMENT TRUST
<PAGE>
Filed Pursuant to Rule 497(e)
Registration No. 33-16439
FUND PROSPECTUS SUPPLEMENT
to Class C Prospectus dated April 1, 1997
The section of the Prospectus entitled "Short Sales," appearing on page 11,
is amended: (i) by deleting the reference to the Global Low-Priced Stock Fund
in the introductory parenthetical and (ii) by adding at the end of the
section the following:
"The Contrarian Fund may enter into short sales on securities with a value of
up to 40% of the Fund's total assets, and its positions in short sales may
have the effect of providing the Fund with investment leverage. To the
extent the Fund enters into short sales on a substantial portion of its
assets, the Fund will to that extent be exposed to the risks of short sales
described above. For a description of the effects and the risks of investment
leverage, see 'Borrowing and Leverage' in this Prospectus.
"Each of the other Funds may enter into short sales on securities with a value
of up to 25% of the Fund's total assets. (The Global Low-Priced Stock Fund will
only enter into short sales on securities which it owns, for hedging purposes).
A Fund's ability to engage in short sales may be limited by tax considerations."
May 5, 1997
ROBERTSON STEPHENS INVESTMENT TRUST
