INDEPENDENCE ONE EQUITY PLUS FUND
(A Portfolio of Independence One Mutual Funds)
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 23, 1995
Please note that the toll-free number for purchasing shares of the Fund shown in
the current prospectus should be changed. Please delete the first sentence of
the sub-section entitled "To Place an Order" under the section entitled "Share
Purchases" on page 10 and replace it with the following:
"Investors may call toll-free 1-800-334-2292 to purchase shares of the Fund
through Michigan National Bank or Independence One."
November 17, 1995
INDEPENDENCE ONE FIXED INCOME FUND
(A Portfolio of Independence One Mutual Funds)
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 23, 1995
1. Please delete the fourth paragraph of the sub-section entitled "Adviser's
Background" on page 11 and replace it with the following:
"John B. Willard is Vice President and Portfolio Manager for Michigan
National Bank and Independence One Capital Management Corporation in
Farmington Hills, and has been responsible for management of the Fund's
portfolio
FEDERATED SECURITIES CORP. since
November,
Distributor PE 1995. He
A subsidiary of FEDERATED joined
INVESTORS Michigan
Federated Investors Tower National Bank
PITTSBURGH, PA 15222-3779 in 1986. He
Cusip 453777872 earned his
G01184-03 (11/95) BBA from the
University of Iowa and MBA from the University of Arizona."
2. Please note that the toll-free number for purchasing shares of the Fund
shown in the current prospectus should be changed. Please delete the first
sentence of the sub-section entitled "To Place an Order" under the section
entitled "Share Purchases" on page 13 and replace it with the following:
"Investors may call toll-free 1-800-334-2292 to purchase shares of the Fund
through Michigan National Bank or Independence One."
November 24, 1995
INDEPENDENCE ONE MICHIGAN MUNICIPAL BOND FUND
(A Portfolio of Independence One Mutual Funds)
SUPPLEMENT TO THE PROSPECTUS DATED AUGUST 23, 1995
1. Please delete the fourth paragraph of the sub-section entitled "Adviser's
Background" which begins on page 7 and replace it with the following:
"Bruce Beaumont is Vice President and Portfolio Manager for Michigan
National Bank and Independence One Capital Management Corporation in
Farmington Hills, and has been responsible for management of the Fund's
portfolio since November, 1995. He joined Michigan National Bank in 1987.
He earned his BA from Alma College and an MBA from Northwestern University.
Bruce is a Chartered Financial Analyst and a Certified Public Accountant."
2. Please note that the toll-free number for purchasing shares of the Fund
shown in the current prospectus should be changed. Please delete the first
sentence of
FEDERATED SECURITIES CORP.
the sub-
section
Distributor RE
entitled "To
A subsidiary of FEDERATED
Place an
INVESTORS
Order" under
Federated Investors Tower
the section
PITTSBURGH, PA 15222-3779
entitled
Cusip 453777864
"Share
G01184-04 (11/95)
Purchases" on page 10 and replace it with the following:
"Investors may call toll-free 1-800-334-2292 to purchase shares of the Fund
through Michigan National Bank or Independence One."
November 17, 1995
FEDERATED SECURITIES CORP.
Distributor RE
A subsidiary of FEDERATED
INVESTORS
Federated Investors Tower
PITTSBURGH, PA 15222-3779
Cusip 453777856
