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THE RIVERFRONT FUNDS, INC.
THE RIVERFRONT U.S. GOVERNMENT SECURITIES MONEY MARKET FUND
THE RIVERFRONT U.S. GOVERNMENT INCOME FUND
THE RIVERFRONT INCOME EQUITY FUND
THE RIVERFRONT STOCK APPRECIATION FUND
THE RIVERFRONT LARGE COMPANY SELECT FUND
THE RIVERFRONT BALANCED FUND
Supplement dated July 20, 1998,
to Prospectus dated April 30, 1998
Capitalized terms used in this Supplement have the meaning assigned to
them in the Prospectus.
The Company has entered into an Agreement and Plan of Reorganization
and Liquidation, dated as of May 29, 1998 (the "Plan"), with The Riverfront
Funds, an Ohio business trust (the "Trust"), whereby each Fund of the Company
will become a separate series of an Ohio business trust rather than a separate
series of a Maryland corporation (the "Conversion").
The Conversion is subject to certain regulatory approvals and to
approval by the shareholders of the Funds at a special Shareholders Meeting
currently expected to be held in August, 1998. If the shareholders approve the
Conversion, it is expected that the Conversion would be effected on or about
October 30, 1998.
The first paragraph under the heading "Waiver of Sales Charges" on page
44 of the Prospectus is deleted and replaced with the following:
Investor A shares may also be sold, to the extent permitted by
applicable law, at net asset value without the imposition of an initial
sales charge to: (1) personal trust, employee benefit, agency and
custodial (other than IRA) clients of Provident; (2) employees,
officers and directors of Provident and the Distributor and the
immediate families of each; (3) broker-dealers purchasing shares for
their own accounts; (4) all affiliates of Provident, including American
Financial Group, Inc., and any officers, directors or employees thereof
and their immediate families; (5) corporations; (6) employees, and
their immediate families, of any broker-dealer with which the
Distributor enters into a dealer agreement to sell Investor A shares of
the Company; (7) orders placed on behalf of other investment companies
distributed by The BISYS Group, Inc., or any of its affiliates,
including the Distributor; (8) persons investing directly through the
Distributor pursuant to a Systematic Investment Plan; and (9) persons
investing directly through a discount brokerage firm which has entered
into a dealer agreement with the Distributor. For purposes of this
paragraph, "immediate family" means any child, stepchild, grandchild,
parent,stepparent, grandparent, spouse, sibling, mother-in-law,
father-in-law, son-in-law, daughter-in-law, brother-in-law or
sister-in-law, and includes adoptive relationships.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH
THE PROSPECTUS FOR FUTURE REFERENCE
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THE RIVERFRONT FUNDS, INC.
THE RIVERFRONT U.S. GOVERNMENT SECURITIES MONEY MARKET FUND
THE RIVERFRONT U.S. GOVERNMENT INCOME FUND
THE RIVERFRONT INCOME EQUITY FUND
THE RIVERFRONT STOCK APPRECIATION FUND
THE RIVERFRONT LARGE COMPANY SELECT FUND
THE RIVERFRONT BALANCED FUND
Supplement dated July 20, 1998,
to Statement of Additional Information dated April 30, 1998
Capitalized terms used in this Supplement have the meaning assigned to
them in the Statement of Additional Information.
The Company has entered into an Agreement and Plan of Reorganization
and Liquidation, dated as of May 29, 1998 (the "Plan"), with The Riverfront
Funds, an Ohio business trust (the "Trust"), whereby each Fund of the Company
will become a separate series of an Ohio business trust rather than a separate
series of a Maryland corporation (the "Conversion").
The Conversion is subject to certain regulatory approvals and to
approval by the shareholders of the Funds at a special Shareholders Meeting
currently expected to be held in August, 1998. If the shareholders approve the
Conversion, it is expected that the Conversion would be effected on or about
October 30, 1998.
The information regarding the Directors of the Company on pages B-23
and B-24 of the Statement of Additional Information is deleted and is replaced
with the following:
J. VIRGIL EARLY, Age 60, Director; Principal in J. Virgil
Early & Associates (business consulting); Vice President of Synovus
Trust Company since September, 1997; former Chief Financial Officer of
Integrated Motor Tech (manufacturing) from February, 1996 to November,
1996; former Executive Vice President of Huntington Bankshares, Inc.
Mr. Early's business address is J. Virgil Early & Associates, 11 Bliss
Lane, Jekyll Island, Georgia 31527.
*WALTER B. GRIMM, Age 52, Director and President; employee of
BISYS Fund Services Limited Partnership since June, 1992.
WILLIAM M. HIGGINS, Age 54, Director; Senior Vice President
and Director of Sena Weller Rohs Williams Inc. (investment advisory
services); Mr. Higgins' business address is Sena Weller Rohs Williams,
Inc., 300 Main Street, 3rd Fl., Cincinnati, OH 45202.
*HARVEY M. SALKIN, PH.D., Age 52, Director; Professor, Case
Western Reserve University and President of Marshall Plan Advisers,
Inc. (investment advisory services); former President and major
shareholder of Mathematical Investing Systems, Inc. Dr. Salkin's
business address is Case Western Reserve University, Department of
Operations Research, 10900 Euclid Avenue, Cleveland, Ohio 44106-7235.
DONALD C. SIEKMANN, Age 59, Director; retired; former partner
of Arthur Andersen (independent public accountants). Mr. Siekmann's
business address is 425 Walnut Street, Cincinnati, Ohio 45243.
*WILLIAM N. STRATMAN, Age 55, Director; co-owner of Mariners
Inn Banquet Halls since 1995; former owner of Bohlender Engraving
Company. Mr. Stratman's business address is 7949 Graves Road,
Cincinnati, Ohio 45243.
The information on page B-24 of the Statement of Additional Information
regarding the Treasurer of the Company is deleted and is replaced with the
following:
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GARY R. TENKMAN, Age 27, Treasurer; employee of BISYS Fund
Services Limited Partnership since March, 1998; prior to March, 1998,
Audit Manager for Ernst & Young LLP (independent public accountants).
The average annual total return information for the Investor B Shares
of the Income, Income Equity, Balanced and Stock Appreciation Funds on page B-43
of the Statement of Additional Information is deleted and is replaced with the
following:
Investor B Shares
(with Contingent Deferred Sales Load) (3)
-----------------------------------------
One Year Five Years Ten Years Inception
Ended Ended Ended to
Fund 12/31/97 12/31/97 12/31/97 12/31/97(4)
---- -------- -------- -------- -----------
Income 2.07% 4.38% N/A 4.07%
Income Equity 23.23% 17.65% N/A 18.78%
Stock Appreciation 13.97% 10.00% 13.84% 10.66%
Balanced 11.82% N/A N/A 11.25%
Investor B Shares
(without Contingent Deferred Sales Load) (3)
--------------------------------------------
One Year Five Years Ten Years Inception
Ended Ended Ended to
Fund 12/31/97 12/31/97 12/31/97 12/31/97(4)
---- -------- -------- -------- -----------
Income 6.07% 4.71% N/A 4.23%
Income Equity 27.17% 17.85% N/A 18.87%
Stock Appreciation 17.86% 10.27% 13.84% 10.66%
Balanced 15.82% N/A N/A 11.95%
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(3) Includes the total return for the Investor A shares for periods prior
to the date Investor B shares were first offered to the public (January 16, 1995
for all Funds except the Stock Appreciation; October 1, 1995 for the Stock
Appreciation Fund).
(4) Dates of Inception - the Income Fund - 10/1/92; the Income Equity Fund
- - 10/8/92; the Balanced Fund - 9/1/94; and the Stock Appreciation Fund -
7/23/87.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE
STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE
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