BLANCHARD GLOBAL GROWTH FUND
BLANCHARD PRECIOUS METALS FUND, INC.
BLANCHARD FLEXIBLE INCOME FUND
BLANCHARD SHORT-TERM FLEXIBLE INCOME FUND
BLANCHARD FLEXIBLE TAX-FREE BOND FUND
(COLLECTIVELY, THE "FUNDS")
(Portfolios of The Blanchard Group of Funds)
SUPPLEMENT TO PROSPECTUSES DATED NOVEMBER 30, 1997
NOTICE TO SHAREHOLDERS:
1. In connection with the previously announced, proposed reorganization of the
above mentioned Funds and certain similarly managed funds that are advised by
affiliates of First Union Corporation, scheduled for February 27, 1998, you are
being advised of the following changes:
It is expected that prior to the above-mentioned reorganization, Signet
Trust Company will merge with and into First Union National Bank ("FUNB"),
Charlotte, North Carolina, and FUNB will, therefore, replace Signet Trust
Company as custodian for the securities and cash of the Funds. Any reference in
your prospectus to Signet Trust Company or Signet Bank should be deleted and
replaced with "First Union National Bank."
Effective February 9, 1998, all references in your prospectus to Signet
Financial Services, Inc. ("SFSI") and Federated Shareholder Services Company
should be deleted and replaced with "Evergreen Service Company." Accordingly,
all references to SFSI's and Federated Shareholder Services Company's mailing
addresses should be deleted and replaced with "Evergreen Service Company, PO Box
2121, Boston, MA 02106-2121." Additionally, all references to phone numbers
should be deleted and replaced with "1-800-343-2898." With respect to the "How
to Invest," "Investor Services" and "How to Redeem" sections of your prospectus,
special care should be taken to incorporate this new address and phone number
where appropriate.
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2. Effective November 28, 1997, all existing subsidiaries of Signet Banking
Corporation, including Virtus Capital Management, Inc. ("VCM") became
subsidiaries of First Union Corporation. Please delete all references to Signet
Banking Corporation and replace them with "First Union Corporation."
December 31, 1997
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BLANCHARD GLOBAL GROWTH FUND
BLANCHARD PRECIOUS METALS FUND, INC.
BLANCHARD FLEXIBLE INCOME FUND
BLANCHARD SHORT-TERM FLEXIBLE INCOME FUND
BLANCHARD FLEXIBLE TAX-FREE BOND FUND
(COLLECTIVELY, THE "FUNDS")
(Portfolios of The Blanchard Group of Funds)
SUPPLEMENT TO STATEMENTS OF ADDITIONAL INFORMATION DATED NOVEMBER 30, 1997
NOTICE TO SHAREHOLDERS:
It is expected that prior to the reorganization of the above mentioned Funds,
Signet Trust Company will merge with and into First Union
National Bank ("FUNB"), Charlotte, North Carolina, and FUNB will, therefore,
replace Signet Trust Company as Custodian for the securities and cash of the
Funds. Accordingly, please delete all references to Signet Trust Company as
Custodian and replace them with "First Union National Bank."
Effective November 28, 1997, all existing subsidiaries of Signet Banking
Corporation, includng Virtus Capital Management, Inc. ("VCM"), became
subsidiaries of First Union Corporation. Please delete all references to Signet
Banking Corporation and replace them with "First Union Corporation."
Effective February 9, 1998, please delete the second sentence of the second
paragraph of the section entitled "Shareholder Reports" in your Statement of
Additional Information and replace it with the following:
"A copy of the FUND'S Annual Report may be obtained without charge by
contacting Evergreen Service Company at 1-800-343-2898."
December 31, 1997
