SUPPLEMENT TO PROSPECTUS
DATED FEBRUARY 28, 1996
THE 59 WALL STREET U.S. EQUITY FUND
THE 59 WALL STREET SMALL COMPANY FUND
THE 59 WALL STREET EUROPEAN EQUITY FUND
THE 59 WALL STREET PACIFIC BASIN EQUITY FUND
THE 59 WALL STREET SHORT/INTERMEDIATE FIXED INCOME FUND
FINANCIAL INTERMEDIARIES
From time to time, the Fund's Shareholder Servicing Agent enters into
contracts with banks, brokers and other financial intermediaries ("Financial
Intermediaries") pursuant to which a customer of the Financial Intermediary may
place purchase orders for Fund shares through that Financial Intermediary which
holds such shares in its name on behalf of that customer. Pursuant to such
contract, each Financial Intermediary as agent with respect to shareholders of
and prospective investors in the Fund who are customers of that Financial
Intermediary, among other things: provides necessary personnel and facilities to
establish and maintain certain shareholder accounts and records enabling it to
hold, as agent, its customers' shares in its name or its nominee name on the
shareholder records of the Corporation; assists in processing purchase and
redemption transactions; arranges for the wiring of funds; transmits and
receives funds in connection with customer orders to purchase or redeem shares
of the Fund; provides periodic statements showing a customer's account balance
and, to the extent practicable, integrates such information with information
concerning other customer transactions otherwise effected with or through it;
furnishes, either separately or on an integrated basis with other reports sent
to a customer, monthly and annual statements and confirmations of all purchases
and redemptions of Fund shares in a customer's account; transmits proxy
statements, annual reports, updated prospectuses and other communications from
the Corporation to its customers; and receives, tabulates and transmits to the
Corporation proxies executed by its customers with respect to meetings of
shareholders of the Fund. For these services, the Financial Intermediary
receives such fees from the Shareholder Servicing Agent as may be agreed upon
from time to time between the Shareholder Servicing Agent and such Financial
Intermediary.
An investor who has an account with a Financial Intermediary may place
purchase orders for Fund shares with the Corporation through that Financial
Intermediary. Each Financial Intermediary may establish and amend from time to
time a minimum initial and a minimum subsequent purchase requirement for its
customers. A transaction fee may be charged by a Financial Intermediary on the
purchase of Fund shares.
Each Financial Intermediary may establish it own policy with respect to the
reinvestment of dividends and capital gains distributions in additional Fund
shares.
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Shares held by a Financial Intermediary on behalf of a shareholder must be
redeemed through that Financial Intermediary. A transaction fee may be charged
by a Financial Intermediary on the redemption of Fund shares.
ADDITIONAL INFORMATION
The annual report of the Fund contains performance information and is made
available to investors upon request and without charge. Performance information
may include comparisons of the Fund's investment results to investments for
which reliable performance data is available. Performance information may also
include comparisons to averages, performance rankings or other information
prepared by recognized mutual fund statistical services.
The date of this supplement is December 9, 1996.
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