PROSPECTUS
NEW CENTURY PORTFOLIOS
February 26, 1999
As Amended June 25, 1999
Each Portfolio has a specific investment objective. There is no assurance the
objectives will be achieved.
NEW CENTURY CAPITAL PORTFOLIO. The investment objective of the Portfolio is to
provide capital growth, with a secondary objective to provide income, while
managing risk. The Portfolio seeks to achieve these objectives by investing
primarily in shares of other registered investment companies that emphasize
investments in equities (domestic and foreign).
NEW CENTURY BALANCED PORTFOLIO. The investment objective of the Portfolio is to
provide income, with a secondary objective to provide capital growth, while
managing risk. The Portfolio seeks to achieve these objectives by investing
primarily in shares of other registered investment companies that emphasize
investments in equities (domestic and foreign), and fixed income securities
(domestic and foreign).
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The Securities and Exchange Commission has not approved or disapproved these
securities. The Commission does not assure the adequacy of any prospectus. It is
not legal to claim that the Commission has done so.
<PAGE>
New Century Portfolios
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Prospectus
February 26, 1999
As Amended June 25, 1999
Table of Contents Page
Summary Investment Objectives And Policies 1
Investment Objectives 1
Investment Policies 1
New Century Capital Portfolio 1
New Century Balanced Portfolio 2
Risk Factors 3
Past Performance 3
Fund Expenses 6
More Investment Policies Of Each Portfolio 7
Investments in Individual Securities 7
Trend Analysis 7
Investments In Investment Companies And
The Investment Company Industry 8
Underlying Funds 10
Money Market Securities 11
More Investment Performance 13
Investment Advisor 14
Distribution of Shares 15
Buying Shares 16
Exchanging Shares 16
Selling (Redeeming) Shares 17
Mail Redemptions 17
Telephone Redemptions 18
Account Minimum 18
Redemptions In-Kind 18
Distributions 19
Frequency 19
Reinvestment 19
Taxes 19
Tax Withholding 20
Transaction Procedures and Special Requirements 20
Share Price 20
How and When Priced 20
Proper Form 21
Written Instructions 21
Joint Accounts 21
Signature Guarantees 21
Telephone 22
Other Services 22
Automatic Investment Program 22
Systematic Withdrawal Programs 22
Special Plans 22
Statements and Reports 23
Financial Highlights 24
<PAGE>
Summary Investment Objectives And Policies
Investment Objectives
NEW CENTURY CAPITAL PORTFOLIO. The investment objective of the Portfolio is to
provide capital growth, with a secondary objective to provide income, while
managing risk.
NEW CENTURY BALANCED PORTFOLIO. The investment objective of the Portfolio is to
provide income, with a secondary objective to provide capital growth, while
managing risk.
Investment Policies
New Century Capital Portfolio
The New Century Capital Portfolio seeks to achieve its investment objective by
investing primarily in shares of other registered investment companies that
emphasize investments in equities (domestic and foreign). (The Portfolio's
objective, including its policy to concentrate in shares of other registered
investment companies, cannot be changed without approval by the shareholders.)
The Advisor will diversify equity investments by investing the assets of the
Portfolio primarily in investment companies that concentrate in different
segments of the equity markets. For example, the Portfolio may be invested in
investment companies that emphasize growth, growth and income, equity income,
small company, aggressive, and foreign equities.
The Advisor may invest a portion of the Portfolio assets in those investment
companies that use different versions of so-called defensive strategies to
minimize risk. These defensive strategies may include the purchase of low
volatility stocks, a combination of stocks and bonds or convertible bonds, money
market funds, cash and cash equivalents, as well as high dividend paying stocks.
In addition, the Portfolio may commit a portion of its assets to certain
investment companies whose assets do not necessarily move in accordance with the
United States stock market. These would include investment companies that invest
in foreign stocks and bonds, real estate and other tangible assets, as well as
investment companies that concentrate their assets in one segment of the
equities market.
The Advisor will monitor and respond to changing economic and market conditions
and then, if necessary, reposition the assets of the Portfolio. The Advisor uses
a number of techniques to make investment decisions, one of which is trend
analysis. Trends are analyzed by using a variety of technical and fundamental
indicators, such as the direction of interest rates, economic growth and various
moving averages. The Advisor manages risk through diversification and asset
allocation and by monitoring activities of underlying funds in which the
Portfolio invests.
New Century Balanced Portfolio
The New Century Balanced Portfolio seeks to achieve its investment objective by
investing primarily in shares of other registered investment companies that
emphasize investments in equities (domestic and foreign) and fixed income
securities (domestic and foreign). (The Portfolio's objective, including its
policy to concentrate in shares of other registered investment companies cannot
be changed without approval by the shareholders.) To produce its return, the
Portfolio will use a variety of investment techniques designed to generate
primarily, dividends (including dividends of funds in which we invest which is
derived from interest), interest, and other income. The Advisor will diversify
equity and fixed income investments by investing the assets of the Portfolio
primarily in investment companies that concentrate in different segments of the
equity markets and investment companies that concentrate in different segments
of the fixed income markets. (The Portfolio determines that the structure of its
investments is "balanced" by evaluating the composite investments of the
investment companies in which it has invested.) For example, the portion of the
Portfolio that is invested in equities may be invested in investment companies
that emphasize growth, growth and income, equity income, small company and
foreign equities. The portion of the Portfolio that is invested in fixed income
securities may be invested in investment companies that emphasize domestic, high
yield and foreign fixed income securities.
The Advisor may invest a portion of the Portfolio assets in those investment
companies that use different versions of so-called defensive strategies to
minimize risk. These defensive strategies may include the purchase of low
volatility stocks, a combination of stocks and bonds or convertible bonds, money
market funds, cash and cash equivalents, as well as high dividend paying stocks.
For example, a fund may be chosen because it primarily invests in intermediate
or short-term bonds, which are less volatile than funds emphasizing longer-term
bonds.
In addition, the Portfolio may commit a portion of its assets to certain
investment companies whose assets do not necessarily move in accordance with the
United States stock market. These would include investment companies that invest
in foreign stocks and bonds, real estate and other tangible assets, as well as
investment companies that concentrate their assets in one segment of the
equities market.
The Advisor will monitor and respond to changing economic and market conditions
and then, if necessary, reposition the assets of the Portfolio. The Advisor uses
a number of techniques to make investment decisions, one of which is trend
analysis. Trends are analyzed by using a variety of technical and fundamental
indicators, such as the direction of interest rates, economic growth and various
moving averages. The Advisor manages risk through diversification and asset
allocation, and by monitoring activities of underlying funds in which the
Portfolio invests.
Risk Factors
You should consider a number of factors before investing in either of the
Portfolios:
(a) The Portfolios concentrate (invest more than 25% and up to 100% of
the value of their respective assets) in the shares of registered open-end and
closed-end investment companies. Thus, the Portfolios are affected by the
performance of those companies. Loss of money is a risk of investing in the
Portfolios. The Portfolios also contribute to the expenses of operating those
companies (including their advisory or operating fees). (See "Investments in
Investment Companies and the Investment Company Industry.") Each Portfolio has
the right to invest in investment companies which charge a "sales load" and
other sales charges. Each Portfolio will seek to minimize such charges, but they
can reduce the Portfolio's investment results.
(b) You should recognize that you may invest directly in mutual funds.
By investing in mutual funds indirectly through the Portfolios, you will bear
both your proportionate share of the expenses of the Portfolios (including
operating costs and investment advisory and administrative fees) and similar
expenses of the underlying funds. In addition, you will bear your proportionate
share of expenses related to the distribution of that Portfolio's shares and you
also may indirectly bear expenses paid by an underlying fund for the
distribution of its shares.
(c) The Portfolios may invest in investment companies which concentrate
in a particular industry. These companies tend to have greater fluctuation in
value than other investment companies.
(d) Like other mutual funds, as well as other financial and business
organizations around the world, the Portfolios could be adversely affected if
the computer systems used by the Portfolios' Advisor, Transfer Agent and other
service providers do not properly process and calculate date-related information
and data as of and after January 1, 2000. The Advisor is taking steps that it
believes are reasonably designed to address the year 2000 issue with respect to
computer systems that it uses. It is also asking for reasonable assurances that
the Portfolios' other major service providers are taking comparable steps. At
this time, however, there can be no assurance that these steps will be
sufficient to avoid any adverse impact to the Portfolios.
Past Performance
The bar charts and tables below show each Portfolio's annual returns and its
long-term performance. The bar charts show how each Portfolio's return has
changed from year to year. The second table shows how each Portfolio's average
annual returns for certain periods compare with those of the S&P Index, a widely
recognized index of stock performance. The bar charts and tables assume that all
dividends and capital gain distributions have been reinvested in new shares of
the Portfolio. This information indicates the risks of investing in the
Portfolios. Past performance is not necessarily an indication of how a Portfolio
will perform in the future. (See "More Investment Performance" for further
information about the performance of each Portfolio.)
[OBJECT OMITTED]
Best Quarter Q 4 '98 = 20.62%
Worst Quarter Q3 '90= -- 15.02%
[OBJECT OMITTED]
Best Quarter Q4 '98 = 12.17% Worst Quarter Q3 '90 = -- 9.35%
<PAGE>
<TABLE>
<CAPTION>
Average Annual Total Return as of December 31, 1998
<S> <C> <C> <C>
Inception
1 Year 5 Years (Jan. 31, 1989)
------ ------- ---------------
New Century Capital Portfolio 20.09% 17.32% 14.03%
New Century Balanced Portfolio 13.48% 12.61% 11.29%
S&P Index 28.58% 24.05% 18.53%
</TABLE>
<PAGE>
Fund Expenses
This table describes the fees and expenses that you may pay if you buy and hold
shares of a Portfolio.
<TABLE>
<CAPTION>
<S> <C> <C>
Shareholder Fees (fees paid directly from your investment) New Century New Century
Capital Portfolio Balanced Portfolio
Maximum Sales Charge (Load) Imposed on Purchases none None
Maximum Deferred Sales Charge (Load) none None
Redemption Fee none None
Exchange Fee none None
Annual Fund Operating Expenses (expenses that are deducted from Portfolio assets)
Management and Advisory Fees 1.00% 1.00%
Distribution (12b-1) Fees 0.18% 0.17%
Other Expenses 0.26% 0.29%
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Total Annual Operating Expenses 1.44% 1.46%
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</TABLE>
The Example below is meant to help you compare the cost of investing in a
Portfolio with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Portfolio for the time
periods indicated and then redeem all of your shares at the end of those
periods. The Example also assumes that your investment has a 5% return each year
and that the Portfolio's operating expenses remain the same. Although your
actual costs may be higher or lower, based on these assumptions your costs would
be:
<TABLE>
<S> <C> <C> <C> <C>
1 year 3 years 5 years 10 years
------ ------- ------- --------
New Century Capital Portfolio $147 $456 $787 $1,724
New Century Balanced Portfolio $149 $462 $797 $1,746
</TABLE>
<PAGE>
More Investment Policies of Each Portfolio
Investments in Individual Securities
While it is not currently the intention of the Portfolios, each Portfolio
retains the right, when the Advisor deems appropriate, to invest in individual
securities. The Advisor will not invest in individual securities without prior
approval by the Board of Trustees. The Portfolios will invest in common stocks
or bonds when the Advisor believes from its analysis of economic and market
trends that the investment environment favors investing in those securities.
Securities are selected from particular industry groups and particular companies
which may be experiencing favorable demand. The Portfolios have not set limits
on asset size for the issuers of such securities. While it is not currently the
intent of the Portfolios, each Portfolio retains the right when the Advisor
deems appropriate to invest in fixed income securities.
The Portfolios may invest only in investment grade fixed income securities.
There are four categories which are referred to as investment grade. These are
the four highest ratings or categories as defined by Moody's Investors Service,
Inc. ("Moody's) and Standard and Poor's Corporation ("Standard & Poor's").
Categories below this have lower ratings and are considered more speculative in
nature. The following are bond ratings classified as investment grade by Moody's
and Standard and Poor's. Baa and BBB rated securities are considered to have
speculative characteristics.
Moody's Standard & Poor's
High Grade Aaa AAA
High Quality Aa AA
Upper Medium Grade AA A
Medium Grade Baa BBB
Ratings from "AA" to" B" may be modified by a plus or minus sign to show
relative standings within the categories.
Trend Analysis
The Advisor will attempt to monitor and respond to changing economic and market
conditions and if necessary reposition the portfolios' assets depending on the
trend analysis. Trends are analyzed by using a variety of technical and
fundamental indicators. Among the factors which are included in the analysis are
the direction of interest rates, economic growth, industry trends and various
moving averages.
When the Advisor identifies an upward trend, the New Century Capital Portfolio
will seek to obtain growth over income while managing risk and the New Century
Balanced Portfolio will seek to obtain income over growth while managing risk.
When a downward trend has been identified, protection of principal may be
emphasized over opportunities for gains in both the New Century Capital and New
Century Balanced Portfolios. When the Advisor believes that income producing
assets are more appropriate due to the economic and market conditions an
emphasis will be placed on income producing investment vehicles. During periods
of time when the Advisor believes there may be unacceptable high risks, the
Portfolios may invest in cash, money market accounts, or money market
instruments to protect the value of the Portfolios.
Investments In Investment Companies And The Investment Company Industry
The Portfolios, by investing in shares of investment companies, indirectly pay a
portion of the operating expenses, management expenses and brokerage costs of
such companies as well as the expense of operating the Portfolio. Thus, the
Portfolios' investors will indirectly pay higher total operating expenses and
other costs than they would pay by owning the underlying investment companies
directly. The Portfolios attempt to identify investment companies that have
demonstrated superior management in the past, thus possibly offsetting these
factors by producing better results and/or lower costs and expenses than other
investment companies. There can be no assurance that this result will be
achieved.
Investing in an investment company does not eliminate investment risk. When the
Advisor has identified a significant upward trend in a particular industry
sector, each Portfolio retains the right to invest in investment companies which
concentrate in a particular industry sector. Such investment companies tend to
have greater fluctuations in value when compared to other categories of
investment companies.
The Portfolios must also structure their investments in other investment company
shares to comply with certain provisions of federal and state securities laws.
Currently, the law limits the amount of the investment of New Century
Portfolios' assets in any investment company to 3% of total asset value of any
such company. These laws and regulations also may adversely affect the
operations of each Portfolio with respect to purchases or redemption of shares
issued by an investment company. As a result of this restriction, a Portfolio
would have to select alternative investments, which may be less desirable than
the previously acquired investment company securities. Shares held by New
Century Portfolios in excess of 1% of an issuer's outstanding securities will be
considered illiquid and, together with other illiquid securities, may not exceed
10 percent of each Portfolio's assets. (The underlying investment company may be
allowed to delay redemption of its shares held by an investment company, such as
New Century Portfolios, in excess of 1% of its total assets for 30 days.)
Consequently, if a Portfolio were more heavily concentrated in a small
investment company, it might not be able to readily dispose of such investment
company shares and might be forced to redeem Portfolio shares in kind to
redeeming shareholders by delivering shares of investment companies that are
held by the Portfolio. Each Portfolio will generally limit the portion of its
assets which will be invested in any underlying fund so as to minimize or
eliminate the effects of this restriction. Although a Portfolio may be
restricted in its ability to redeem, Portfolio shareholders who receive shares
upon redemption are not so restricted. If shares are redeemed in kind, the
redeeming Shareholder may incur redemption fees or brokerage costs in converting
the assets into cash. Applicable fundamental policies are reflected in the
Portfolio's investment restrictions. Holdings of affiliated persons are included
in the 3 percent limitation on investment in any other investment company and in
the computation of the 1% of an underlying issuer's securities for purposes of
the illiquidity restriction, and possible delay in redemption of underlying
investment company securities, described above. When affiliated persons hold
shares of any of the underlying funds, New Century Portfolios' ability to invest
is restricted. In that case, the Portfolios could be forced to select
alternative, and perhaps less preferable, investments. This restriction applies
to New Century Portfolios as a whole, not each Portfolio separately.
Investment decisions by the investment advisors of the underlying funds are made
independently of the Portfolios and its Advisor. Therefore, the investment
advisor of one underlying fund may be purchasing shares of the same issuer whose
shares are being sold by the investment advisor of another such fund. The result
of this would be an indirect expense to a Portfolio without accomplishing any
investment purpose.
Each Portfolio expects that it will select the investment companies in which it
will invest based, in part, upon an analysis of the past and projected
performance and investment structure of the investment companies. However, each
Portfolio must consider other factors in the selection of investment companies.
These other factors include, but are not limited to, the investment company's
size, shareholder services, liquidity, investment objective and investment
techniques, etc. Each Portfolio will be affected by the losses of its underlying
investment companies, and the level of risk arising from the investment
practices of such investment companies (such as repurchase agreements, quality
standards, or lending of securities) and has no control over the risks taken by
such investment companies. Each Portfolio can also elect to redeem (subject to
the 1% limitation discussed above) its investment in an underlying investment
company (or sell it if the company is a closed-end one) if that action is
considered necessary or appropriate. The following is a list of many of the
types of investment companies which are eligible for inclusion in the
Portfolios:
Growth Funds Income (Equity) Funds
Growth and Income Funds Income (Mixed) Funds
Bond and Preferred Funds Option/Income Funds
Balanced Funds U.S. Government Income Funds
Precious Metals Funds/Gold Funds International Equity Funds
Money Market Funds International Bond Funds
GNMA Funds International Money Market Funds
Global Bond Funds Global Money Market Funds
Global Equity Funds Aggressive Growth Funds
Municipal Bonds Municipal Bond Funds
Sector Funds Short Term Bond Funds
High Yield Bond Funds Intermediate Term Bond Funds
Income (Bond) Funds
The Portfolios will not invest in an investment company which charges a
contingent deferred sales load.
Underlying Funds
The underlying funds in which the Portfolios invest may invest in various
obligations and employ various investment techniques. The following describes
some of the most common of such obligations and techniques.
Illiquid And Restricted Securities. An underlying fund may invest up to 15% of
its net assets in illiquid securities for which there is no readily available
market. Illiquid Securities may include restricted securities the disposition of
which would be subject to legal restrictions. During the time it takes to
dispose of illiquid securities, the value of the securities (and therefore the
value of the underlying fund's shares held by a Portfolio) could decline.
Foreign Securities. An underlying fund may invest its assets in securities of
foreign issuers. There may be less publicly available information about these
issuers than is available about companies in the U.S. and such information may
be less reliable. Foreign securities are subject to heightened political, social
and economic risks, including the possibility of expropriation, nationalization,
confiscation, confiscatory taxation, exchange controls or other foreign
governmental restrictions. All of these risks are heightened for investments in
emerging markets.
Foreign Currency Transactions. In connection with its portfolio transactions in
securities traded in a foreign currency, an underlying fund may enter into
forward contracts to purchase or sell an agreed upon amount of a specific
currency at a future date which may be any fixed number of days from the date of
the contract agreed upon by the parties at a price set at the time of the
contract. Although such contracts tend to minimize the risk of loss due to a
change in the value of the subject currency, they tend to limit any potential
gain which might result should the value of such currency change favorably
during the contract period.
Industry Concentration. An underlying fund may concentrate its investments
within one industry. Because investments within a single industry would all be
affected by developments within that industry, a fund which concentrates in an
industry is subject to greater risk than a fund which invests in a broader range
of securities. Also, the value of the shares of such an underlying fund may be
subject to greater market fluctuation than an investment in a more diversified
fund.
Repurchase Agreements. Like the Portfolios, underlying funds, particularly money
market mutual funds, may enter into repurchase agreements. If the seller should
default on its obligation to repurchase the securities, the underlying fund may
experience delays or difficulties in exercising its rights to realize upon the
securities held as collateral and might incur a loss if the value of the
securities should decline.
Loans Of Portfolio Securities. An underlying fund may lend its portfolio
securities equal in value up to one-third of its total assets. The loan is
secured continuously; however, loans of securities involve a risk that the
borrower may fail to return the securities or may fail to provide additional
collateral.
Short Sales. An underlying fund may sell securities short. In a short sale, the
fund sells stock which it does not own, making delivery with securities
"borrowed" from a broker. The fund will incur a loss as a result of the short
sale if the price of the security increases between the date of the short sale
and the date on which the fund replaces the borrowed security. The fund may be
required to pay a premium, dividend or interest.
Risk Factors Regarding Options, Futures And Options On Futures. Successful use
by an underlying fund of options on stock or bond indices, financial and
currency futures contracts and related options, and currency options will be
subject to the investment manager's ability to predict correctly movements in
the direction of the securities and currency markets generally or of a
particular segment. If a fund's investment manager is not successful in
employing such instruments in managing a fund's investments, the fund's
performance will be worse than if it did not employ such strategies. In
addition, a fund will pay commissions and other costs in connection with such
investments, which may increase the fund's expenses and reduce the return. In
writing options on futures, a fund's loss is potentially unlimited and may
exceed the amount of the premium received.
Certain derivative positions may be closed out only on an exchange which
provides a secondary market. There can be no assurance that a liquid secondary
market will exist for any particular option, futures contract or option thereon
at any specific time. Thus, it may not be possible to close such a position and
this could have an adverse impact on a fund. When trading options on foreign
exchanges or in the OTC market many of the protections afforded to exchange
participants will not be available and a secondary market may not exist.
Leverage Through Borrowing. An underlying fund may borrow to increase its
holdings of portfolio securities. The fund is required to maintain continuous
asset coverage of 300% with respect to such borrowings and to sell (within three
days) sufficient portfolio holdings to restore such coverage if it should
decline to less than 300%, even if disadvantageous. Leveraging will exaggerate
the effect of any increase or decrease in the value of portfolio securities on
the fund's net asset value, and money borrowed will be subject to interest costs
and fees which may exceed the interest and gains, if any, received from the
securities purchased with borrowed funds.
Money Market Securities
Each Portfolio may invest in money market securities, which include:
o marketable securities issued or guaranteed as to principal and interest
by the government of the United States or by its agencies or
instrumentalities;
o domestic bank certificates of deposit;
o bankers' acceptances;
o prime commercial paper; and
o repurchase agreements (secured by United States Treasury or agency
obligations).
The cash will be invested in high quality money market instruments while seeking
maximum current income and maintaining preservation of capital. These
instruments are considered safe because of their short-term maturities,
liquidity and high quality ratings.
Commercial paper is limited to the two highest ratings of Moody's and Standard
and Poor's. Firms rate borrowers differently according to their classifications.
Standard and Poor's rates companies from A for the highest quality to D for the
lowest quality rating. The A-rated companies are also subdivided into three
groups depending on relative strength. Moody's uses P1 as their highest rating
along with P2 and P3. Commercial Paper may be purchased that is rated Prime 1 or
2 by Moody's or A-1 or A-2 by the Standard and Poor's Corporation. Instruments
such as Commercial paper and notes which are issued by companies having an
outstanding debt rated within these two highest ratings may be purchased.
Bank Certificates of Deposit and Banker's Acceptances are limited to U.S. dollar
denominated instruments of domestic banks (generally limited to institutions
with a net worth of at least $100,000,000) and of domestic branches of foreign
banks (limited to institutions having total assets of not less than $1 billion
or its equivalent).
Under a repurchase agreement the Portfolio acquires a debt instrument for a
relatively short period (usually not more than one week) subject to the
obligations of the seller to repurchase and of the Portfolio to resell such
instrument at a fixed price. The use of repurchase agreements involves certain
risks. For example, if the seller of the agreement defaults on its obligation to
repurchase the underlying securities at a time when the value of these
securities has declined, the Portfolio may incur a loss upon disposition of
them. If the seller of the agreement becomes insolvent and subject to
liquidation or reorganization under the Bankruptcy Code or other laws, a
bankruptcy court may determine that the underlying securities are collateral not
within the control of the Portfolio and therefore subject to sale by the trustee
in bankruptcy. Finally, it is possible that the Portfolio may not be able to
substantiate its interest in the underlying securities. While management of the
Portfolio acknowledges these risks, it is expected that they can be controlled
through stringent security selection and careful monitoring procedures.
The Portfolio will select money market securities for investment when such
securities offer a current market rate of return which the Advisor considers
reasonable in relation to the risk of the investment, and the issuer can satisfy
suitable standards of credit-worthiness set by the Advisor and described in the
Statement of Additional Information.
Portfolio Turnover. Each Portfolio presently estimates that its annualized
portfolio turnover rate generally will not exceed 200%. High portfolio turnover
might adversely affect a Portfolio's performance due to additional transaction
costs (such as brokerage commissions or sales charges) and adverse tax effects.
(See "Dividends, Distributions and Taxes".)
<PAGE>
More Investment Performance
The following line graph illustrates the past performance of $10,000 in each of
the Portfolios, as compared to the Standard & Poor's 500 Index, a broad-based
securities index. The chart which appears after the line graph illustrates the
average annual returns for one-year, five-year and since inception time periods.
Comparisonof the Change in a $10,000 Investment in the New Century Portfolios
and the Standard & Poor's 500 Index as of October 31, 1998
[OBJECT OMITTED]
<TABLE>
<CAPTION>
Average Annual Returns for the periods ended October 31, 1998 *
<S> <C> <C> <C>
1 Year 5 Year Since Inception
(1/31/89)
New Century Capital Portfolio 7.97% 14.60% 12.74%
New Century Balanced Portfolio 6.97% 11.02% 10.56%
</TABLE>
*Average annual return for the Portfolios assumes the reinvestment of all
dividends and distributions and the deduction of all fees and expenses.
Performance and data represent past performance. Investment return and principal
value of an investment in the Fund will fluctuate. Your shares, when redeemed,
may be worth more or less than their original cost.
The Trust's Annual Report contains further information about the performance of
each Portfolio. (See the back cover for information about how to get a free copy
of the Annual Report.)
Investment Advisor
The investments of each Portfolio are managed by Weston Financial Group, Inc.
(the "Advisor"), 20 William Street, Suite 330, Wellesley, Massachusetts
02481-4102, under separate investment advisory agreements (previously defined as
the "Advisory Agreements") which became effective on February 28, 1990. The
Advisory Agreements provide that the Advisor shall supervise and manage the
Portfolio's investments and shall determine the Portfolio's portfolio
transactions, subject to periodic review by the Board of Trustees. The Advisor
is responsible for selecting brokers and dealers to execute transactions for the
Portfolio.
On October 16, 1998, the Fund's shareholders approved new investment advisory
agreements with the Advisor to replace the current Advisory Agreements. The new
agreements contain the same terms and conditions as the current Advisory
Agreements, except for effective dates and termination dates. Shareholders were
asked to approve the new agreements because the Advisor plans to merge with
Weston Advisors, Inc., an affiliated Company, which will result in a change in
control of the Advisor.
The fees paid under the Advisory Agreements are higher than the investment
advisory fees paid by most other mutual funds. The Advisor currently provides
investment advisory services for approximately $416 million of assets of
individuals, trusts and estates. The Advisor has provided discretionary
investment advisory services relating to investments in mutual funds since 1981.
Pursuant to its Advisory Agreement with each Portfolio, the Advisor will manage
the assets of each Portfolio in accordance with the stated objective, policies
and restrictions of the Portfolio (subject to the supervision of the New Century
Portfolios' Board of Trustees and officers). The Advisor will also keep certain
books and records in connection with its services to the New Century Portfolios.
The Advisor has also authorized any of its directors, officers and employees who
have been elected as Trustees or officers of the New Century Portfolios to serve
in the capacities in which they have been elected. Services furnished by the
Advisor under the agreement may be furnished through the medium of any such
directors and officers.
As compensation for its services as investment advisor, the Advisor receives a
fee, computed daily and payable monthly, at the annualized rate of 1% of each
Portfolio's average daily net assets for the first $100 million in assets and
.75% of the assets exceeding that amount. The Advisor's fee is higher than that
paid by most other investment companies. For the fiscal year ended October 31,
1998, the Advisor received $875,355 (1% of average net assets) for the New
Century Capital Portfolio and $533,425 (1% of average net assets) for the New
Century Balanced Portfolio.
The Advisor uses an investment team approach to analyze investment trends and
strategies for the Portfolios. Members of the investment team are responsible
for the continuous review and administration of each Portfolio's investment
program, subject to the objectives specified in the Prospectus and supplemental
guidelines approved by the New Century Portfolios' Board of Trustees. Wayne M.
Grzecki, who has 21 years of investment experience, is the coordinator of the
team. Mr. Grzecki has served in various management positions with the Advisor
since 1986 and is President of the New Century Portfolios. Douglas A. Biggar and
Ronald A. Sugameli are the other members of the team. Mr. Biggar, a Principal of
the Advisor and Trustee of the Portfolios, served as the New Century Portfolios'
portfolio manager from inception to 1994. Mr. Sugameli, a Vice President of the
Portfolios, has served in various management positions with the Advisor since
1984, advising individuals concerning financial planning and investment advice.
The Advisor was organized in 1981 and principally provides investment advice to
individuals. The Advisor does not provide investment advice to any other
investment companies.
The Advisor also serves as the Portfolios' administrator under an agreement with
each Portfolio the "Administration Agreement"). The Administration Agreements
provide that the Advisor will furnish the New Century Portfolios with office
facilities, and with any ordinary clerical and bookkeeping services not
furnished by the custodian, transfer agent or Distributor. The Administration
Agreements were approved by the Board of Trustees. As compensation for its
services as an administrator, the Advisor receives an amount equal to the
salaries and expenses of the personnel who perform the administrative duties.
Distribution Of Shares
Weston Securities Corporation is each Portfolio's Distributor. The Distributor
promotes the distribution of the shares of each Portfolio in accordance with
those agreements and the terms of the Distribution Plan for each Portfolio (the
"Plan") adopted pursuant to Rule l2b-1 under the 1940 Act. Each Plan provides
for the use of Portfolio assets to pay expenses of distributing Portfolio
shares.
The Plan provides that each Portfolio may incur distribution costs which may not
exceed .25% per annum of the Portfolio's net assets for payments to the
Distributor for items such as advertising expenses, selling expenses,
commissions or travel reasonably intended to result in sales of shares of the
Portfolio. The Distribution Agreement adopted under each Plan provides that each
Portfolio will pay the Distributor a monthly fee at an annual rate of .25% of
the Portfolio's average daily net assets. Thus, each Portfolio will not bear any
distribution expenses in excess of its payments to the Distributor. The Plans do
not limit the amounts paid to the Distributor by each Portfolio to amounts
actually expended by the Distributor. It is therefore possible for payments to
the Distributor to exceed its expenses in a particular year.
Because these fees are paid out of the Portfolios' assets on an on-going basis,
over time these fees will increase the cost of your investment and may cost you
more than paying other types of sales charges.
<PAGE>
Buying Shares
To purchase shares of a Portfolio please complete the application form and mail
it together with your check payable to New Century Portfolios to:
First Data Investor Services Group, Inc.
211 South Gulph Road
P.O. Box 61767
King of Prussia, PA 19406
Subsequent investments may be made at any by mailing a check, payable to New
Century Portfolios to the Transfer Agent at the address above. Mail orders
should include, when possible, the "Invest by Mail" stub which accompanies any
Portfolio confirmation statement. The Distributor may be reached at (888)
639-0102.
Purchases are made at the net asset value per share next computed after receipt
of your order by the Portfolio's Transfer Agent, First Data Investor Services
Group, Inc. There is no sales load or charge assessed on the New Century Capital
Portfolio or the New Century Balanced Portfolio.
Each Portfolio reserves the right in its sole discretion (i) to waive or lower
investment minimums, (ii) to accept initial purchases by telephone or mailgram,
(iii) to refuse any purchase or exchange order, including purchase orders from
any investor who engages in excessive purchases and redemptions in their
account. These actions will be taken when, in the sole discretion of management,
they are deemed to be in the best interest of the fund.
Your purchase will be made in full and fractional shares of the Portfolio
calculated to three decimal places. Shares are normally held in an open account
for shareholders by each Portfolio, which will send to shareholders a statement
of shares owned at the time of each transaction. Share certificates for full
shares are, of course, available at any time at written request at no additional
cost to the shareholder. No certificates will be issued for fractional shares.
Exchanging Shares
You may exchange all or part of your shares into any other New Century
Portfolio, at net asset value. The amount invested must equal or exceed the
required minimum investment of the Portfolio which is purchased. If you request
an exchange, you will be sent a current prospectus and an exchange authorization
form to authorize the exchange. No fees or sales loads are charged for the
exchange privilege.
You may also request an exchange by telephoning the Distributor at (888)
639-0102 if you have previously submitted the telephone exchange option
available from the Portfolio. An exchange is technically a sale of one Portfolio
and the purchase of another, and is a taxable transaction. The sale may involve
either a capital gain or loss to you for tax purposes. The exchange privilege is
subject to termination and its terms are subject to change.
Selling (Redeeming) Shares
You may redeem your shares of the Portfolios without charge on any day on which
the Portfolios calculate their net asset values (see "Share Price"). Redemptions
will be effective at the net asset value per share next determined after the
receipt of a redemption request meeting the requirements described below. After
we receive your request in good order, we normally send redemption proceeds on
the next business day, and in any event, within seven days (or earlier if
required under applicable law). There is no charge for redemptions by the
Portfolios or repurchases by the Distributor.
You may sell shares by mail or by telephone.
Mail Redemptions
To sell shares by mail you must send us signed written instructions. The written
request must:
o include the Portfolio and the shareholder's account number,
o state the number of shares to be redeemed, and
o be signed by each registered owner exactly as the shares are
registered.
If you would like your redemption proceeds wired to a bank account, your
instructions should include:
o the name, address, and telephone number of the bank where you
want the proceeds sent o your bank account number
o the Federal Reserve ABA Routing number.
If the shares to be redeemed were issued in certificate form, the certificates
must be endorsed for transfer (or be accompanied by an endorsed stock power) and
must be submitted to the Transfer Agent together with the redemption request.
The Transfer Agent may require additional supporting documents for redemptions
made by corporations, executors, administrators, trustees and guardians. The
Transfer Agent will not consider a redemption request to be complete until it
receives all required documents in proper form. You should call the Transfer
Agent at (800) 441-8580 with questions about the proper form for redemption
requests. Delivery of the proceeds of a redemption of shares purchased and paid
for by check shortly before the receipt of the request may be delayed until the
Portfolio determines that its Custodian Bank has completed collection of the
purchase check which may take up to 15 days. The Board of Trustees may suspend
the right of redemption or postpone the date of payment during any period when:
o trading on the New York Stock Exchange is restricted as determined by
the Securities and Exchange Commission,
o such Exchange is closed for other than weekends and holidays,
o the Securities and Exchange Commission has by order permitted such
suspension, or
o an emergency, as defined by rules of the Commission, exists during
which time the sale of portfolio securities or valuation of securities
held by the Portfolio are not reasonably practicable.
Telephone Redemptions
You may redeem shares by telephoning the Distributor at (888) 639-0102 if you
have previously submitted the telephone redemption form available from the
Portfolio. (Telephone redemption will not be available for shares held in tax
qualified accounts, for amounts less than $5,000, or for shares for which
certificates are outstanding.) The proceeds will be paid to the registered share
owner(s):
o by mail at the address specified on the Telephone Redemption Form, or
o by wire to the bank account designated on the Form.
All registered owners of an account must complete the Telephone Redemption Form
and the signatures must be guaranteed as described above. The Portfolio or its
Distributor may cancel the telephone redemption privilege at any time without
prior notice. They may require the use of written redemption procedures when
deemed necessary to protect the Portfolio and its shareholders.
We will not be responsible for any losses resulting from unauthorized
transactions if it follows reasonable procedures designed to verify the identity
of the caller. We will request personalized security codes or other information,
and may also record calls. You should verify the accuracy of your transaction
statements immediately after you receive them.
Account Minimum
Your account may be closed if it is worth less than the minimum initial
investment required when the account is established, presently $5,000. (If you
redeem shares from an inactive account established with a minimum investment,
the account may fall below the minimum initial investment, and could be closed).
We would advise you in writing at least sixty (60) days prior to closing the
account, during which time you may purchase additional shares in any amount
necessary to bring the account back to $5,000. We will not close your account if
it falls below $5,000 solely because of a market decline.
Redemptions In-Kind
The Portfolios have reserved the right to pay redemption proceeds by a
distribution in-kind of portfolio securities (rather than cash). In the event
that the Portfolio makes an in-kind distribution, you could incur brokerage and
transaction charges when converting the securities to cash. You could be
required to comply with normal business procedures to redeem shares of an
underlying fund and could experience normal processing delays. In-kind
redemptions will be made when the Board determines that it would be detrimental
to a Portfolio to make payment in cash.
Distributions
Frequency
The New Century Capital Portfolio intends to declare and pay annual dividends to
its shareholders. The New Century Balanced Portfolio intends to declare and pay
quarterly dividends to its shareholders, of substantially all of its net
investment income, if any, earned during the year from its investments. Each
Portfolio will distribute net realized capital gains, if any, once each year.
Reinvestment
Your dividends and distributions will be reinvested in additional shares of a
Portfolio unless you elect in writing to receive dividends or distributions in
cash. To change your election you must notify the Transfer Agent in writing
fifteen days prior to record date. Reinvestments will be made on the payment
date at the net asset value determined on the record date of the dividend or
distribution.
Dividend payments are not guaranteed, are subject to the Board's discretion and
may vary with each payment. The Portfolios do not pay "interest" or guarantee
any fixed rate of return on an investment in its shares.
Taxes
If you buy shares shortly before the record date, any distribution will lower
the value of the Portfolio's shares by the amount of the distribution and you
will then receive a portion of the price you paid back in the form of a taxable
distribution. If you are subject to federal income taxes, distributions from
long-term capital gains are taxable as such, whether paid in cash or reinvested
in shares and regardless of the length of time you have owned Portfolio shares.
In addition, dividends from net investment income or net short-term gains will
be taxable to you as ordinary income, whether paid in cash or shares.
We will provide an information return to you describing the Federal tax status
of the dividends paid by a Portfolio during the preceding calendar year within
60 days after the end of each year as required by present tax law. You should
consult your tax advisor concerning the state or local taxation of such
dividends, and the Federal, state and local taxation of capital gains
distributions. Dividends declared in October, November or December of any year
to investors of record will be deemed to have been paid and received by the
investors on December 31 of the year, provided such dividends are paid before
February 1 of the following year.
The dividends paid by a Portfolio may qualify for the 70% dividends received
deduction for corporations. Distributions from long-term capital gains are not
eligible for the dividends received deduction for corporations. Corporate
investors should recognize that the investor must hold Portfolio shares for more
than 45 days during the period beginning 45 days before each dividend date and
ending 90 days thereafter to qualify any dividends (or portion thereof) for the
dividends received deduction. Tax Withholding
In accordance with law, we may be required to withhold a portion of dividends or
redemptions or capital gains paid to you and remit such amount to the Internal
Revenue Service, if you fail to furnish us with a correct taxpayer
identification number, if you fail to supply us with a tax identification number
altogether, if you fail to make a required certification, or if the Internal
Revenue Service notifies us to withhold a portion of such distributions from
your account. Certain entities, such as certain types of trusts, may be exempt
from this withholding provided they file an appropriate exemption certificate
with us.
Transaction Procedures and Special Requirements
Share Price
The Net Asset Value we use when you buy or sell shares is the one next
calculated after we receive your transaction request in proper form.
How and When Priced
The net asset value of a Portfolio share is determined as of 5 p.m. Eastern time
on each day the New York Stock Exchange is open for unrestricted trading from
Monday through Friday. Portfolio shares will not be priced on national holidays
when the New York Stock Exchange is closed. The net asset value is determined by
dividing the value of the Portfolio's securities, plus any cash and other
assets, less all liabilities, by the number of shares outstanding. Expenses and
fees of the Portfolio, including the advisory and the distributor fees, are
accrued daily and taken into account for the purpose of determining the net
asset value. Each Portfolio will value redeemable securities issued by open-end
investment companies at their respective net asset values last computed at 5
p.m. A portfolio security listed or traded on a securities exchange will be
valued at the last sale price on the security's principal exchange on that day.
Listed securities not traded on an exchange that day, and other securities which
are traded in the over-the-counter market, will be valued at the last reported
bid price in the market on that day, if any. Securities for which market
quotations are not readily available and all other assets will be valued at
their respective fair market value as determined in good faith by, or under
procedures established by, the Board of Trustees. The Portfolios will value
money market securities with less than sixty days remaining to maturity when
acquired on an amortized cost basis, excluding unrealized gains or losses
thereon from the valuation. This is accomplished by valuing the security at cost
and then assuming a constant amortization to maturity of any premium or
discount. If the Portfolio acquires a money market security with more than sixty
days remaining to its maturity, it will value the money market security at
current market value until the 60th day prior to maturity. The money market
security will then be valued on an amortized cost basis based upon the value on
such date unless the Board determines during such 60-day period that this
amortized cost value does not represent fair market value.
Proper Form
An order to buy shares is in proper form when we receive your signed shareholder
application and check. Written requests to sell or exchange shares are in proper
form when we receive signed written instructions, with a signature guarantee if
necessary. We must also receive any outstanding share certificates for those
shares.
Written Instructions
Written instructions must be signed by all registered owners. To avoid any delay
in processing your transaction, they should include:
o Your name,
o The Portfolio's name
o A description of the request
o For exchanges, the name of the fund you are exchanging into
o Your account number
o The dollar amount or number of shares, and
o A telephone number where we may reach you during the day or in the
evening, if preferred.
Joint Accounts
For accounts with more than one registered owner, we accept written instructions
signed only by one owner for certain types of transactions or account changes.
These include transactions or account changes you could also make by phone, such
as certain redemptions of $5,000 or less, exchanges between identically
registered accounts, and changes to the address of record. For most other types
of transactions or changes, all registered owners must sign written
instructions.
Please keep in mind that if you have previously told us that you do not want
telephone exchange or redemption privileges on your account, then we can only
accept written instructions to exchange or redeem shares if they are signed by
all registered owners on the account.
Signature Guarantees
A signature guarantee verifies the authenticity of your signature. You should be
able to obtain a signature guarantee from a bank, broker, credit union, savings
association, clearing agency, etc. The Distributor (888) 639 0102 may also
provide a signature guarantee
Signature guarantees must be included in a redemption request for:
o an amount in excess of $5,000,
o payment other than to the shareholder of record, or
o for proceeds to be sent elsewhere than the address of record.
A notarized signature is not sufficient.
Telephone
You may initiate many transactions and changes to your account by phone. When
you call, we may request personal or other identifying information to confirm
that instructions are genuine. We may also record calls. For your protection, we
may delay a transaction or not implement one if we are not reasonably satisfied
that the instructions are genuine. If this occurs, we will not be liable for any
loss. We will also not be liable for any loss if we follow instructions by phone
that we reasonably believe are genuine or if you are unable to execute a
transaction by phone.
Other Services
Automatic Investment Program
Our automatic investment plan offers a convenient way to invest in the Fund.
Under the plan you can have money transferred automatically from your checking
account to the Fund each month to buy additional shares. If you are interested
in this program, please refer to the shareholder application included with this
prospectus. The market value of the Fund's share may fluctuate and a systematic
investment plan such as this will not assure a profit or protect against a loss.
You may discontinue the program at any time by notifying the Transfer Agent or
Distributor by mail or phone.
Systematic Withdrawal Programs
Our systematic withdrawal plan allows you to sell your shares and receive
regular payments from your account on a monthly, quarterly or annual basis. The
value of your account must be at least $10,000 and the minimum payment for each
withdrawal must be at least $50.00.
If you would like to establish a systematic withdrawal plan, please complete the
systematic withdrawal section of the shareholder application included with this
prospectus and indicate how you would like to receive your payments. When you
sell your shares under a systematic withdrawal plan, it is a taxable
transaction.
Special Plans
Each Portfolio also offers its shares for use in certain Tax Sheltered accounts,
including IRA, Roth IRA, Keogh, 401(k) and 403(b)(7) plans. Information on these
types of accounts is available from the Portfolios' Distributor or by reviewing
the Statement of Additional Information.
Statements and Reports
We will send you the following statements and reports on a regular basis:
o Confirmation and account statements reflecting transactions in your
account, including additional purchases and dividend reinvestments.
Please verify the accuracy of your statements when you receive them.
o Financial reports of the fund will be sent every six months.
<PAGE>
NEW CENTURY CAPITAL PORTFOLIO
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS
(For a Share Outstanding Throughout each Period)
<S> <C> <C> <C> <C> <C>
Years ended October 31,
1998 1997 1996 1995 1994
--------- ------- --------- --------- ---------
PER SHARE OPERATING PERFORMANCE
Net asset value, beginning of period $14.67 $13.51 $13.12 $12.31 $ 12.74
------ ------ ------ ------ -------
Income (loss) from investment operations
Net investment loss (0.09) (0.10) (0.09) (0.06) (0.08)
Net gain on securities
(both realized and unrealized) 1.18 3.29 1.90 2.16 0.64
------ ------ ------ ------ -------
Total from investment operations 1.09 3.19 1.81 2.10 0.56
------ ------ ------ ------ -------
Less distributions
Distributions from capital gains (1.46) (2.03) (1.42) (1.29) (0.99)
------ ------ ------ ------ -------
Net asset value, end of period $14.30 $14.67 $13.51 $13.12 $ 12.31
====== ====== ====== ====== =======
TOTAL RETURN 7.97 % 27.22 % 14.91 % 19.60 % 4.70 %
RATIOS/SUPPLEMENTAL DATA
Net assets, end of year $90,164 $78,391 $62,741 $50,889 $ 37,968
Ratio of expenses to
average net assets 1.44 % 1.43 % 1.47 % 1.61 % 1.60 %
Ratio of net investment loss to
average net assets -0.67 % -0.76 % -0.69 % -0.52 % -0.68 %
Portfolio turnover Rate 102 % 93 % 214 % 206 % 107 %
</TABLE>
<PAGE>
NEW CENTURY BALANCED PORTFOLIO
<TABLE>
<CAPTION>
FINANCIAL HIGHLIGHTS
(For a Share Outstanding Throughout each Period)
<S> <C> <C> <C> <C> <C>
Years ended October 31,
1998 1997 1996 1995 1994
--------- ------- --------- --------- ----------
PER SHARE OPERATING PERFORMANCE
Net asset value, beginning of period $ 13.23 $ 12.21 $ 11.82 $ 11.22 $11.94
------- ------- ------- ------- ------
Income from investment operations
Net investment income (loss) 0.21 0.21 0.18 0.24 0.20
Net gain (loss) on securities
(both realized and unrealized) 0.66 2.01 1.30 1.28 (0.05)
------- ------- ------- ------- ------
Total from investment operations 0.87 2.22 1.48 1.52 0.15
------- ------- ------- ------- ------
Less distributions
Dividends from net investment income (0.21) (0.21) (0.18) (0.24) (0.19)
Distributions from capital gains (1.06) (0.99) (0.91) (0.68) (0.68)
------- ------- ------- ------- ------
Total distributions (1.27) (1.20) (1.09) (0.92) (0.87)
------- ------- ------- ------- ------
Net asset value, end of period $ 12.83 $ 13.23 $ 12.21 $ 11.82 $11.22
======= ======= ======= ======= ======
TOTAL RETURN 6.97 % 19.64 % 13.24 % 14.93 % 1.26 %
RATIOS/SUPPLEMENTAL DATA
Net assets, end of year $ 56,190 $ 48,893 $ 40,423 $ 30,124 $23,803
Ratio of expenses to
average net assets 1.46 % 1.41 % 1.61 % 1.72 % 1.73 %
Ratio of net investment income to
average net assets 1.51 % 1.58 % 1.45 % 2.14 % 1.57 %
Portfolio turnover Rate 59 % 80 % 172 % 191 % 130 %
</TABLE>
<PAGE>
INVESTMENT ADVISOR
Weston Financial Group, Inc.
20 William Street, Suite 330
Wellesley, MA 02481-4102
DISTRIBUTOR
Weston Securities Corporation
20 William Street, Suite 330
Wellesley, MA 02481-4102
CUSTODIAN
The Bank of New York
90 Washington Street, 22nd Floor
New York, New York 10286-0001
TRANSFER AGENT
First Data Investor Services Group, Inc.
211 South Gulph Road
P.O. Box 61767
King of Prussia, PA 19406
LEGAL COUNSEL
Stradley, Ronon, Stevens & Young, LLP
2600 One Commerce Square
Philadelphia, PA 19103-7098
AUDITORS
Briggs Bunting & Dougherty, LLP
Two Logan Square, Suite 2121
Philadelphia, PA 19103-4901
<PAGE>
ADDITIONAL INFORMATION
You can find more information about New Century Portfolios and its Portfolios in
the Statement of Additional Information (SAI) and Annual and Semi-Annual
Reports.
The SAI includes expanded information about investment practices, risks and
operations. The SAI supplements, and is technically a part of, this Prospectus.
The Annual and Semi-Annual Reports focus on information about each Portfolio's
investments and performance. In these reports, you will find a discussion of the
market conditions and investment strategies that significantly affected each
Portfolio's performance during the last fiscal year.
The SAI and Annual and Semi-Annual Reports are available free of charge. To get
these materials and other information about the portfolios:
o Call collect or write New Century Portfolios as shown below.
o Visit the SEC's Public Reference Room in Washington, DC
(1-800-SEC-0330).
o Visit the SEC's Internet site at http://www.sec.gov.
o Request copies of this information by writing to the Public Reference
Section of the SEC, Washington, DC 20549-6009 (a copying fee may be
charged).
NEW CENTURY PORTFOLIOS
20 William Street, Suite 330
Wellesley, MA 02481-4102
(888) 639-0102
811-5646
