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COMPASS CAPITAL FUNDS(SM)
THE BOND PORTFOLIOS/INSTITUTIONAL CLASS
THE EQUITY PORTFOLIOS/INSTITUTIONAL CLASS
SUPPLEMENT TO PROSPECTUSES DATED
JANUARY 16, 1996
(as supplemented and redated on May 31, 1996 with respect to the Bond
Portfolios; as supplemented on April 19, 1996 with respect to the Equity
Portfolios.)
The following paragraph has been added after the last paragraph in the section
entitled "How Are Shares Purchased And Redeemed?":
Shares of the Portfolios may be purchased by customers of
broker-dealers and agents which have established a servicing
relationship with the fund on behalf of their customers. These
broker-dealers and agents may impose additional or different conditions
on the purchase or redemption of Portfolio shares by their customers
and may charge their customers transaction, account or other fees on
the purchase and redemption of Portfolio shares. Each broker-dealer
or agent is responsible for transmitting to its customers a schedule
of any such fees and information regarding any additional or different
conditions regarding purchases and redemptions. Shareholders who are
customers of such broker-dealers or agents should consult them for
information regarding these fees and conditions.
This Supplement is dated July 16, 1996.
