Independence One Fixed Income Fund
(A Portfolio of Independence One Mutual Funds)
Supplement to the Combined Prospectus dated June 30, 1997
Please be advised that Bruce Beaumont has assumed the primary responsibility as
portfolio manager for Independence One Fixed Income Fund. Accordingly, please
delete the biographical information for John B. Willard from page 21 of your
prospectus. In addition, please delete first sentence of Mr. Beaumont's
biographical information on page 20 and replace it with the following:
"Bruce Beaumont is Vice President and Portfolio Manager for Michigan
National Bank and IOCM in Farmington Hills. Mr. Beaumont has been
responsible for management of Fixed Income Fund's portfolio since February
1998 and Michigan Municipal Bond Fund's portfolio since November 1995."
February 25, 1998
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Cusip 453777864
G01184-16 (2/98) MIF802085
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