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SUPPLEMENT TO PROSPECTUS FOR NORTH AMERICAN FUNDS
Dated March 1, 1999, as revised May 13, 1999
Effective December 8, 1999, Curtis J. Anderson has been appointed portfolio
manager for the Balanced Fund. Accordingly, the description of Founders Asset
Management LLC on page 40 is amended by replacing the last two sentences of the
third paragraph with the following:
Curtis J. Anderson, Vice President of Investments, has been portfolio
manager for the Balanced Fund since December 1999. Previously, Mr.
Anderson was a senior vice president, director of research and a portfolio
manager with First Security Investment Management from 1991 through
November 1999.
91410 December 8, 1999
