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THE PNC(R) FUND
THE EQUITY PORTFOLIOS
SUPPLEMENT TO THE SERVICE, INSTITUTIONAL AND INVESTOR CLASS PROSPECTUSES DATED
JANUARY 30, 1995
The section entitled "Management -- Advisers and Sub-Advisers" has been amended
as follows:
The fourth paragraph has been amended to read as follows:
The Growth Equity Portfolio's manager, Robert K. Urquhart, is the person
primarily responsible for the day-to-day management of the Portfolio's
investments. Mr. Urquhart, the Managing Director of PEAC's Large Cap Growth
Equity Investments area, has been with PEAC since 1995 and has been the
manager of the Portfolio since 1995. Before joining PEAC, Mr. Urquhart was
the Chief Investment Officer and a partner of Cole Financial Group, Inc.; a
partner of Seacliff Holdings, Inc.; and a partner of RCM Capital Management.
The eighth paragraph has been amended to read as follows:
The Value Equity's co-managers, Earl J. Gaskins and Benedict E. Capaldi,
share primary responsibility for the day-to-day management of the
Portfolio's investments. Mr. Gaskins, a Vice President of PCM, has been with
PCM since 1985 and has managed the Portfolio since 1994. Mr. Capaldi, a Vice
President of PCM, has been with PCM since 1995 and has been the co-manager
of the Portfolio since 1995. Before joining PCM, Mr. Capaldi was a Senior
Vice President and Portfolio Manager with Radnor Capital Management, the
President of Chestnut Hill Advisors, Inc., and a Managing Director of
Brandywine Asset Management, Inc.
The ninth paragraph has been amended to read as follows:
The International Equity and International Emerging Markets Portfolios'
manager, William George Greig, is the person primarily responsible for the
day-to-day management of the Portfolios' investments. Mr. Greig, a Vice
President of PCM, has been with PCM since 1995 and has been the manager of
the Portfolio since 1995. Before joining PCM, Mr. Greig was a Managing
Partner of Akamai International; an Investment Director with the Framlington
Group; and a Research Director with Pilgrim Baxter & Associates.
The date of this Supplement is July 31, 1995.
PNC-P-003S
