FINANCIAL HORIZONS INVESTMENT TRUST
497, 1997-09-10
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<PAGE>   1
                                SUPPLEMENT DATED
                               SEPTEMBER 5, 1997

                                       TO

                                PROSPECTUS DATED
                               FEBRUARY 28, 1997


                      FINANCIAL HORIZONS INVESTMENT TRUST

                                  GROWTH FUND
                              MUNICIPAL BOND FUND
                              GOVERNMENT BOND FUND
                               CASH RESERVE FUND


        On August 29, 1997, John M. Schaffner replaced Laura Klebe 
        as portfolio manager of the Growth Fund. On page 8 of the 
        prospectus, the paragraph entitled Growth Fund is hereby 
        deleted in its entirety and replaced by the following:

           GROWTH FUND - John M. Schaffner, Director - Equity
           Securities. John received a Bachelor of Arts in
           Economics from Occidental College. He received a Master
           of Business Administration degree from the University
           of Michigan and is a Chartered Financial Analyst.
           John managed the Growth Fund from its inception until
           June 1994, and returned as portfolio manager of the
           Fund in August 1997. He has managed the Nationwide(R)
           Growth Fund since 1981.


           PLEASE KEEP THIS SUPPLEMENT WITH YOUR PROSPECTUS 
           FOR FURTHER REFERENCE.




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