FirstMerit Equity Fund
A Portfolio of FirstMerit Funds
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SUPPLEMENT TO THE PROSPECTUS DATED JANUARY 31, 2000
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The following is information that supplements your FirstMerit Equity Fund
prospectus. We are providing it to advise you of a change in the shareholder
service fee for the Fund that will occur effective October 15, 2000.
What are the Fund's Fees and Expenses?
FIRSTMERIT EQUITY FUND
FEES AND EXPENSES
This table describes the fees and expenses that you may pay if you buy and
hold Shares of the Fund.
SHAREHOLDER FEES
FEES PAID DIRECTLY FROM YOUR INVESTMENT
Maximum Sales Charge (Load) Imposed on Purchases
(as a percentage of offering price) 5.50%
Maximum Deferred Sales Charge (Load)
(as a percentage of original purchase price or redemption
proceeds, as applicable) None
Maximum Sales Charge (Load) Imposed on Reinvested Dividends
(and other Distributions)
(as a percentage of offering price) None
Redemption Fee (as a percentage of amount redeemed, if applicable) None
Exchange Fee None
ANNUAL FUND OPERATING EXPENSES (Before Waivers) 1
EXPENSES THAT ARE DEDUCTED FROM FUND ASSETS
(AS A PERCENTAGE OF AVERAGE NET ASSETS)
Management Fee 2............................................... 0.75%
Distribution (12b-1) Fee 3..................................... 0.25%
Shareholder Services Fee ...................................... 0.25%
Other Expenses ................................................ 0.31%
Total Annual Fund Operating Expenses 4......................... 1.56%
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1 Although not contractually obligated to do so, the Distributor and
shareholder services provider expect to waive certain amounts during the
fiscal year ending November 30, 2000. These are shown below along with the
net expenses the Fund expects to ACTUALLY PAY for the fiscal year ending
November 30, 2000.
Total Waiver of Fund Expenses.................................. 0.25%
Total Actual Annual Fund Operating Expenses (after waivers).... 1.31%
2 The adviser does not expect to waive a portion of the management fee during
the fiscal year ending November 30, 2000. The management fee paid by the
Fund (after the voluntary waiver) was 0.70% for the fiscal year ended
November 30, 1999.
3 The distributor does not expect to accrue or charge its distribution fee of
0.25% during the fiscal year ending November 30, 2000. The distributor can
accrue its fee, and thereby terminate this anticipated voluntary waiver of
the distribution fee, at any time, at its sole discretion. The distribution
fee paid (after the anticipated voluntary waiver) by the Fund is expected
to be 0.00% for the fiscal year ending November 30, 2000.
4 The Total Annual Fund Operating Expenses and Total Actual Annual Fund
Operating Expenses (after waivers) for the fiscal year ended November 30,
1999 were 1.60% and 1.05% respectively.
EXAMPLE
This Example is intended to help you compare the cost of investing in the
Fund's Shares with the cost of investing in other mutual funds.
The Example assumes that you invest $10,000 in the Fund's Shares for the
time periods indicated and then redeem all of your Shares at the end of those
periods. The Example also assumes that your investment has a 5% return each year
and that the Fund's Shares operating expenses are BEFORE WAIVERS as shown in the
table and remain the same. Although your actual costs and returns may be higher
or lower, based on these assumptions your costs would be:
1 YEAR 3 YEARS 5 YEARS 10 YEARS
$602 $920 $1,262 $2,223
October 1, 2000
FEDERATED SECURITIES CORP., DISTRIBUTOR
Cusip 337944102
25832 (10/00)
