<PAGE> 1
Rule 497(e)
File No.: 811-5545
Registration No.: 33-21489
THE KEYPREMIER AGGRESSIVE GROWTH FUND
SUPPLEMENT DATED APRIL 1, 1997,
TO PROSPECTUS DATED JANUARY 29, 1997
Capitalized terms used in this Supplement have the meaning assigned to them
in the Prospectus.
The Fee Table on page 3 of the Prospectus is deleted and is replaced with the
following:
FEE TABLE
<TABLE>
<S> <C>
Shareholder Transaction Expenses
Maximum Sales Load Imposed
on Purchases (as a percentage of offering price) 4.50%
ESTIMATED ANNUAL FUND OPERATING EXPENSES
(as a percentage of average net assets)
Management Fees After Voluntary Fee Waiver(1) 0.50%
12b-1 Fees None
Other Expenses(2) .31
----
Estimated Total Fund Operating Expenses
After Voluntary Fee Waiver 0.81%
=====
</TABLE>
EXAMPLE
You would pay the following expenses on a $1,000 investment, assuming (1) 5%
annual return and (2) redemption at the end of each time period:
<TABLE>
<CAPTION>
1 Year 3 Years
------ -------
<S> <C>
$53 $70
</TABLE>
The purpose of the above table is to assist a potential purchaser of
Shares of the Fund in understanding the various costs and expenses that an
investor in the Fund will bear directly or indirectly. Such expenses do not
include any fees charged by the Adviser or any of its affiliates to its
customer accounts which may have invested in Shares of the Fund. See
"MANAGEMENT OF THE GROUP" and "GENERAL INFORMATION" for a more complete
discussion of the annual operating expenses of the Fund. THE FOREGOING EXAMPLE
SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE EXPENSES. ACTUAL
EXPENSES MAY BE GREATER OR LESS THAN THOSE SHOWN.
_______________________
1 The Adviser has agreed voluntarily to reduce its investment advisory
fees to 0.50% through on or about October 31, 1997. Absent such
voluntary fee waiver, Management Fees and Estimated Total Fund
Operating Expenses for the Fund would be 1.00% and 1.31%,
respectively.
2 "Other Expenses" are estimated for the current fiscal year.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE
<PAGE> 2
Rule 497(e)
File No.: 811-5545
Registration No.: 33-21489
THE KEYPREMIER ESTABLISHED GROWTH FUND
THE KEYPREMIER INTERMEDIATE TERM INCOME FUND
SUPPLEMENT DATED APRIL 1, 1997,
TO PROSPECTUS DATED OCTOBER 30, 1996
Capitalized terms used in this Supplement have the meaning assigned to them
in the Prospectus.
The Fee Table on page 3 of the Prospectus is deleted and is replaced with the
following:
FEE TABLE
<TABLE>
<CAPTION>
ESTABLISHED
SHAREHOLDER TRANSACTION EXPENSES GROWTH FUND INCOME FUND
<S> <C> <C>
Maximum Sales Load Imposed
on Purchases (as a percentage of
offering price) 4.50% 4.50%
ESTIMATED ANNUAL FUND OPERATING EXPENSES
(as a percentage of average net assets)
Management Fees After Voluntary Fee Waiver(1) 0.40% 0.30%
12b-1 Fees None None
Other Expenses(2) 0.27 0.26
---- ----
Estimated Total Fund Operating Expenses
After Voluntary Fee Waiver (1) 0.67% 0.56%
===== =====
</TABLE>
EXAMPLE
You would pay the following expenses on a $1,000 investment, assuming (1) 5%
annual return and (2) redemption at the end of each time period:
<TABLE>
<CAPTION>
1 Year 3 Years
------ -------
<S> <C> <C>
The Established Growth Fund $52 $65
The Income Fund $50 $62
</TABLE>
The purpose of the above table is to assist a potential purchaser of
Shares of a Fund in understanding the various costs and expenses that an
investor in the Fund will bear directly or indirectly. Such expenses do not
include any fees charged by the Adviser or any of its affiliates to its
customer accounts which may have invested in Shares of the Funds. See
"MANAGEMENT OF THE GROUP" and "GENERAL INFORMATION" for a more complete
discussion of the annual operating expenses of the Funds. THE FOREGOING EXAMPLE
SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR FUTURE EXPENSES. ACTUAL
EXPENSES MAY BE GREATER OR LESS THAN THOSE SHOWN.
_______________________
1 The Adviser has agreed voluntarily to reduce its investment advisory
fees with respect to the Established Growth Fund and the Income Fund
to 0.40% and 0.30%, respectively, through on or about October 31,
1997. Absent such voluntary fee waivers, Management Fees and
Estimated Total Fund Operating Expenses for the Established Growth
Fund would be 0.75% and 1.02%, respectively, and for the Income Fund
would be 0.60% and 0.86%, respectively.
2 "Other Expenses" are estimated for the current fiscal year.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS
FOR FUTURE REFERENCE
