THE NORTHSTAR FUNDS
Prospectus Supplement dated December 1, 1998
to Prospectus dated March 1, 1998
The following information replaces the information contained in the section of
the Funds' prospectus entitled "YOUR GUIDE TO BUYING, SELLING AND EXCHANGING
SHARES OF NORTHSTAR FUNDS - FRONT-END SALES CHARGES" beginning on page 31:
Effective December 1, 1998, the program allowing an exemption from the front-end
sales charge for purchases of Class A Shares of the Funds with proceeds from
redemptions of unaffiliated investment companies (the "NAV Transfer Program")
will be discontinued. Please delete all references to the NAV Transfer Program
where they appear in the Funds' prospectuses. Of course, other exemptions from
the sales charge may apply. See the section entitled "WAYS TO REDUCE OR
ELIMINATE SALES CHARGES."
-------------------------
THIS SUPPLEMENT SUPERSEDES ALL PRECEDING SUPPLEMENTS.
<PAGE>
NORTHSTAR HIGH YIELD INVESTMENTS
Prospectus Supplement dated December 1, 1998
to Prospectus dated March 1, 1998
The following information replaces the information contained in the section of
the Funds' prospectus entitled "YOUR GUIDE TO BUYING, SELLING AND EXCHANGING
SHARES OF NORTHSTAR FUNDS - FRONT-END SALES CHARGES" beginning on page 12:
Effective December 1, 1998, the program allowing an exemption from the front-end
sales charge for purchases of Class A Shares of the Funds with proceeds from
redemptions of unaffiliated investment companies (the "NAV Transfer Program")
will be discontinued. Please delete all references to the NAV Transfer Program
where they appear in the Funds' prospectuses. Of course, other exemptions from
the sales charge may apply. See the section entitled "WAYS TO REDUCE OR
ELIMINATE SALES CHARGES."
-------------------------
THIS SUPPLEMENT SUPERSEDES ALL PRECEDING SUPPLEMENTS.
