NORTH AMERICAN FUNDS, 497, 1999-07-27

NORTH AMERICAN FUNDS
497, 1999-07-27

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                         SUPPLEMENT TO PROSPECTUS FOR
                             NORTH AMERICAN FUNDS
                  DATED MARCH 1, 1999, AS REVISED MAY 13, 1999

Effective July 26, 1999, Tracy P. Stouffer has been appointed portfolio manager
for the International Small Cap Fund.  Accordingly, the description of Founders
Asset Management, LLC on page 40 is amended by replacing the first two sentences
of the third paragraph with the following:

     Tracy P. Stouffer, Vice President of Investments, has been the lead fund
     manager for the International Small Cap Fund since July 1999.  Previously,
     Mr. Stouffer was a vice president and portfolio manager with Federated
     Global Incorporated from 1995 to July 1999 and a vice president and
     portfolio manager with Clariden Asset Management from 1988 to 1995.


91389                                                              July 26, 1999