<PAGE>
Pursuant to Rule 497(e)
Registration No. 33-16439
ROBERTSON STEPHENS INVESTMENT TRUST
FUND PROSPECTUS SUPPLEMENT
TO CLASS A PROSPECTUS DATED MARCH 1, 1998,
AS REVISED SEPTEMBER 22, 1998
CHANGE OF CONTROL OF RSIM. Members of senior management of Robertson Stephens
Investment Management have agreed to purchase Robertson Stephens Investment
Management Co. Inc. from BankAmerica Corporation. Robertson Stephens Investment
Management Co. Inc. is the parent company of Robertson, Stephens & Company
Investment Management, L.P. and RS Investment Management, Inc. After the
transaction, RS Investment Management, Inc. would continue to serve as
investment adviser to the Emerging Growth Fund, and Robertson, Stephens &
Company Investment Management, L.P. would continue to serve as investment
adviser to all of the other Funds.
Robertson, Stephens & Company Investment Management, L.P. is proposing to enter
into sub-advisory agreements (i) for the Information Age and Value + Growth
Funds, with Elijah Asset Management, LLC, a newly formed investment advisory
firm owned principally by Ronald E. Elijah, who currently serves as portfolio
manager for those Funds, and (ii) for a portion of the assets of The Contrarian
Fund-TM-, with Eastbourne Management, L.L.C., a newly formed investment advisory
firm owned principally by Rick Barry, who currently serves as a member of the
portfolio management team for that Fund.
It is expected that, following the transaction, all of the persons currently
serving as portfolio managers of the Funds will continue to serve as portfolio
managers of the same Funds, either as employees of Robertson, Stephens & Company
Investment Management, L.P. or RS Investment Management, Inc. or of Elijah Asset
Management, LLC or Eastbourne Management, L.L.C.
The Trustees of the Trust have approved the proposed arrangements, to become
effective upon consummation of the transaction. Implementation of the agreements
is subject to approval of shareholders at a meeting expected to be held in
February 1999.
DISTRIBUTOR. Provident Distributors, Inc. ("PDI"), with principal offices at
Four Falls Corporate Center, 6th Floor, West Conshohocken, Pennsylvania 19428,
serves as principal underwriter and distributor of shares of the Funds,
replacing Edgewood Services, Inc.
JANUARY 27, 1999
