Institutional Shares
Supplement dated October 26, 1998
to the Prospectus dated February 1, 1998
Beginning on November 2, 1998, the MicroCap
Fund will open and offer shares for purchase by new and
current investors. Thereafter, the Fund intends to close
itself to new investors and additional share purchases by
current investors (except for reinvestment of the Fund's
dividends) at the adviser's discretion, based upon various
factors, including assets under management and current
investment opportunities. Although the adviser reserves
the right to close the Fund to share purchases at any time
and at any asset level, it is currently anticipated that the
Fund will close for share purchases (except for
reinvestment of the Fund's dividends) at any time after
assets under management enter the range between $130
million and $140 million. As of September 30, 1998 the
Fund's assets under management totaled approximately
$83.7 million.
Prior to November 2, 1998, B.C. Ziegler and
Company may solicit purchase orders, including non-
binding indications of interest prior to actual confirmation
of orders. In order to purchase shares of the Fund on
November 2, 1998, the Fund's transfer agent must receive
a purchase order together with payment in good form on
November 2, 1998 before 3:00 p.m. (Central Time).
Payment for the purchase of shares will not be accepted
before November 2, 1998. For more information on
share purchases, see "Purchase of Shares" in the Fund's
prospectus dated February 1, 1998.
Retail Shares
Supplement dated October 26, 1998
to the Prospectus dated February 1, 1998
Beginning on November 2, 1998, the MicroCap
Fund will open and offer shares for purchase by new and
current investors. Thereafter, the Fund intends to close
itself to new investors and additional share purchases by
current investors (except for reinvestment of the Fund's
dividends) at the adviser's discretion, based upon various
factors, including assets under management and current
investment opportunities. Although the adviser reserves
the right to close the Fund to share purchases at any time
and at any asset level, it is currently anticipated that the
Fund will close for share purchases (except for
reinvestment of the Fund's dividends) at any time after
assets under management enter the range between $130
million and $140 million. As of September 30, 1998 the
Fund's assets under management totaled approximately
$83.7 million.
Prior to November 2, 1998, B.C. Ziegler and
Company may solicit purchase orders, including non-
binding indications of interest prior to actual confirmation
of orders. In order to purchase shares of the Fund on
November 2, 1998, the Fund's transfer agent must receive
a purchase order together with payment in good form on
November 2, 1998 before 3:00 p.m. (Central Time).
Payment for the purchase of shares will not be accepted
before November 2, 1998. For more information on
share purchases, see "Purchase of Shares" in the Fund's
prospectus dated February 1, 1998.
In addition, the following changes are effective
November 2, 1998. The MicroCap Fund's minimum
initial investment for shares will be $1,000; with the
exception of IRAs, which will have a minimum initial
investment of $100. The minimum subsequent
investment will be $50. This minimum will not be
waived if you participate in the Periodic Investment Plan.
Participation in the Periodic Investment Plan with respect
to the MicroCap Fund will terminate when the fund
closes. The maximum investment will remain
$5,000,000. The foregoing updates the language
discussing the MicroCap Fund's minimum investment
requirements in the first paragraph of page 41 of the
prospectus.
