Supplement dated March 31, 2000
To the Prospectus dated March 1, 2000
We are pleased to announce exciting changes to the portfolio management team of
the International Equity Fund. The management team's investment decisions will
continue to rely on a fundamental analysis of securities with a long-term
investment perspective.
The sixth paragraph on page 89 is replaced by the following:
The portfolio management team of Thomas Hansberger, CFA, CIC, John Hock, CFA and
Charles Gulden, CFA manages the International Equity Fund for HGI. Mr.
Hansberger serves as the Chief Executive Officer of Hansberger Global Investors
and has over thirty-five years of investment management experience. Before
forming Hansberger Global Investors, Mr. Hansberger served as Chairman,
President and Chief Executive Officer of Templeton Worldwide, Inc. the parent
company of the Templeton group of companies. John Hock is a research analyst
and portfolio manager of HGI. Mr. Hock joined HGI in 1996 and has seven years
of investment management experience. Charles Gulden serves as portfolio manager
and research analyst of HGI. Mr. Gulden joined HGI in 1996 and has seventeen
years of investment management experience.
Also, the fourth paragraph on page 85 is replaced with the following:
Dividends from net investment income of the Bond Funds are declared and paid
monthly. Dividends from net investment income of the Balanced Income, Balanced
Growth, Growth and Income, Equity Index and MidCap Index Funds are declared and
paid quarterly. Dividends from net investment income of the Growth, Special
Growth, Emerging Growth, MicroCap, Core International Equity and International
Equity Funds are declared and paid annually. Any capital gains are distributed
annually. A shareholder's dividends and capital gains distributions will be
reinvested automatically in additional shares unless the Fund is notified that
the shareholder elects to receive distributions in cash.
