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FREMONT INSTITUTIONAL U.S. MICRO-CAP FUND The following supplements the section "HOW TO INVEST" on page 6 of the Prospectus March 1, 1999. Effective immediately, the minimum initial investment for the Fremont Institutional U.S. Micro-Cap Fund is $250,000 for both regular accounts and IRA accounts. Each subsequent investment in the Fund must be $5,000 or more.
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