SUPPLEMENT
DATED OCTOBER 19, 2000
TO THE PROSPECTUS DATED MAY 1, 2000
WEISS, PECK & GREER, L.L.C. MUTUAL FUNDS
WPG Government Money Market Fund
WPG Tax Free Money Market Fund
WPG Intermediate Municipal Bond Fund
WPG Core Bond Fund
WPG Growth and Income Fund
Weiss, Peck & Greer International Fund
WPG Tudor Fund
WPG Quantitative Equity Fund
================================================================================
The combined Prospectus, dated May 1, 2000, for the above referenced
funds (the "Prospectus") is hereby revised as follows:
WPG GROWTH AND INCOME FUND
1. All references in the Prospectus to "WPG Growth and Income Fund" are
changed to "WPG Large Cap Growth Fund" (and all references to "Growth
and Income Fund" are changed to "Large Cap Growth Fund").
2. On page 10 of the Prospectus, the section captioned "INVESTMENT GOAL"
is replaced in its entirety with the following:
INVESTMENT GOAL
Long-term growth of capital.
3. Also on page 10 of the Prospectus, the first paragraph under the
section captioned "PRINCIPAL INVESTMENT STRATEGIES" is replaced in
its entirety with the following:
INVESTMENTS: The fund invests at least 65% of its assets in
equity securities of U.S. large capitalization companies that
offer the prospect of capital appreciation.
4. On page 28 in the section captioned "FINANCIAL HIGHLIGHTS," the
following financial highlights are inserted under the caption "Growth
and Income":
For the period from January 1, 2000 through June 30, 2000*:
<TABLE>
<CAPTION>
NET NET NET TOTAL DIVIDENDS DISTRIB- TOTAL NET TOTAL NET EXPENSE RATIO OF PORTFOLIO
ASSET INVEST- REALIZED INCOME/ FROM NET UTIONS DISTRIB- ASSET RETURN ASSETS AT RATIO(1) NET TURNOVER
VALUE AT MENT AND (LOSS) FROM INVEST- FROM NET TIONS VALUE ------ END OF -------- INVESTMENT RATE(1)
BEGIN- INCOME/ UNREALIZED INVESTMENT MENT REALIZED ------- AT END YEAR INCOME/ ---------
NING OF (LOSS) GAINS OPERATIONS INCOME CAPITAL OF ($000's) (LOSS) TO
YEAR --------- (LOSSES) ON ------------ --------- GAINS YEAR --------- AVERAGE
------------ SECURITIES --------- -------- NET
------------- ASSETS(1)
-----------
------------------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C>
39.88 -0.03 1.68 1.65 0 0 0 41.53 4.14 132,115 1.02 -0.14 78.7
------------------------------------------------------------------------------------------------------------------------------------
<FN>
(1) Annualized.
* This information is not audited.
</FN>
</TABLE>
<PAGE>
WPG TUDOR FUND
Effective November 1, 2000, Walter T. Prendergast is the new portfolio
manager to WPG Tudor Fund. Mr. Prendergast, a Senior Vice President of WPG,
joined WPG in 1996 as a technology and quantitative analyst covering the
semiconductor, software and computer hardware industries. Previously he was an
Assistant Vice President with Alliance Capital Management where he was portfolio
manager of the Hudson River Trust Structured Assets program. Mr. Prendergast has
11 years of investment experience.
- 2 -
<PAGE>
SUPPLEMENT
DATED OCTOBER 19, 2000
TO THE STATEMENT OF ADDITIONAL INFORMATION DATED MAY 1, 2000
WEISS, PECK & GREER, L.L.C. MUTUAL FUNDS
WPG Government Money Market Fund
WPG Tax Free Money Market Fund
WPG Intermediate Municipal Bond Fund
WPG Core Bond Fund
WPG Growth and Income Fund
Weiss, Peck & Greer International Fund
WPG Tudor Fund
WPG Quantitative Equity Fund
The combined Statement of Additional Information, dated May 1, 2000,
for the above referenced funds (the "SAI") is hereby revised as follows:
WPG GROWTH AND INCOME FUND
1. The references to "WPG Growth and Income Fund" are deleted from each
of the following paragraphs:
a. The first paragraph under the caption "ASSET-BACKED
SECURITIES" on page 20 of the SAI.
b. The first full paragraph on page 64 of the SAI.
c. The section captioned "YIELD - MUNICIPAL FUND, CORE BOND
FUND AND GROWTH AND INCOME FUND" on page 79 of the SAI.
2. All other references in the SAI to "WPG Growth and Income Fund" are
changed to "WPG Large Cap Growth Fund" (and all references to the
defined term "Growth and Income Fund" are changed to "Large Cap
Growth Fund").
3. The following performance data is added to the section captioned
"CALCULATION OF PERFORMANCE DATA" on page 77 of the SAI:
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------
TOTAL RETURN
-------------------------------------------------------------------------------------------------
ONE YEAR FIVE YEARS TEN YEARS
ENDED ENDED 6/30/00 ENDED 6/30/00
FUND 6/30/00
--------------- ----------- --------------------------------- -----------------------------------
ANNUALIZED CUMULATIVE ANNUALIZED CUMULATIVE
--------------- ----------- ------------- ------------------- --------------- -------------------
<S> <C> <C> <C> <C> <C>
WPG Large Cap 18.25 23.63 189.20 16.84 374.64
Growth Fund
--------------- ----------- ------------- ------------------- --------------- -------------------
</TABLE>
4. The following is added to the section captioned "CERTAIN
SHAREHOLDERS" on page 51 of the SAI:
<PAGE>
As of September 30, 2000, no person within the
knowledge of the management of the funds directly or
indirectly owned, controlled or held with power to vote 5% or
more of the outstanding voting securities (I.E., shares) of
WPG Large Cap Growth Fund, except as set forth below:
---------------------------------- ------------------------------
PERCENTAGE OF
NAME AND ADDRESS OUTSTANDING SHARES
---------------------------------- ------------------------------
Star Creations Ltd. 10.70%
Ugland House
PO Box 309
Georgetown Grand Cayman
British West Indies
---------------------------------- ------------------------------
5. The following is inserted at the end of the second full paragraph on
page 75 of the SAI:
Prior to October 18, 2000, the Large Cap Growth Fund was named
"WPG Growth and Income Fund."
6. On page 82 of the SAI, in the last sentence of the first full
paragraph, the following benchmark indices are inserted with respect
to the WPG Growth and Income Fund (i.e., WPG Large Cap Growth Fund):
Lipper Large Cap Core Index, S&P 500 Index and Morningstar Large
Blend Average.
WPG TUDOR FUND
Effective November 1, 2000, Walter T. Prendergast will become portfolio
manager to WPG Tudor Fund, replacing the existing portfolio manager. Mr.
Prendergast, a Senior Vice President of WPG, joined WPG in 1996 as a technology
and quantitative analyst covering the semiconductor, software and computer
hardware industries. Previously he was an Assistant Vice President with Alliance
Capital Management where he was portfolio manager of the Hudson River Trust
Structured Assets program. Mr. Prendergast has 11 years of investment
experience.
-2-
