VISION NEW YORK MUNICIPAL INCOME FUND
(A PORTFOLIO OF VISION GROUP OF
--------------------------------
FUNDS) SUPPLEMENT TO THE COMBINED PROSPECTUS DATED JUNE 30, 2000 (REVISED AUGUST
22, 2000 AND NOVEMBER 8, 2000)
Effective January 1, 2001, Robert J. Truesdell will no longer manage the
investment portfolio of the VISION New York Municipal Income Fund. Instead,
daily fund management will be the responsibility of Mark Tompkins. (Mr.
Truesdell will continue in a supervisory role.) Please add the following
biography of Mr. Tompkins as the third paragraph on page 27 of the Prospectus:
"The New York Municipal Income Fund has been managed since January 1, 2001 by
Mark Tompkins. Mr. Tompkins is a Senior Portfolio Manager in M&T Capital
Advisors Group. He is responsible for managing fixed income portfolios and the
trading of fixed income securities for trust accounts. Prior to joining M&T Bank
in August 1998, Mr. Tompkins spent over 4 years as a Portfolio Manager with
Karpus Investment Management in Rochester, New York. At Karpus, he was
responsible for managing fixed income investments for various portfolios
including corporations and high net worth individuals. Mr. Tompkins holds a B.S.
in Mechanical Engineering from Oakland University and a M.B.A. in Finance and
Accounting from Syracuse University. He is a CFA charter holder and a member of
the Bond Club of Buffalo."
December 30, 2000
Cusip 92830F505
26073 (12/00)
