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AMERICAN PERFORMANCE FUNDS
EQUITY INVESTMENT FUNDS
AMERICAN PERFORMANCE AGGRESSIVE GROWTH FUND
Supplement Dated February 5, 1998 to
Prospectus Dated December 17, 1997
Capitalized terms used in this Supplement and not defined have the meaning
assigned to them in the Prospectus.
The following paragraphs replace the second paragraph under the title
Aggressive Growth Fund on page 8 of the Prospectus:
The Aggressive Growth Fund will no longer follow a "bottom-up" securities
selection strategy, but instead will employ a "quantitative" investment
approach. Under this approach stocks will be ranked according to their return
characteristics and other quantitative factors. The portfolio will be
constructed to exhibit aggregate investment characteristics similar to those of
the Standard & Poor's Small Cap 600 Index ("S&P 600"). The Aggressive Growth
Fund will not, however, seek to match or track the performance of the S&P 600,
nor limit investments to stocks in that index. This "quantitative" investment
approach will be implemented gradually over the next few months.
The securities of smaller, less well-known companies may be more volatile
than those of larger companies. An investment in the Aggressive Growth Fund may
increase or decrease in value.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE PROSPECTUS FOR FUTURE
REFERENCE.
