COLONIAL NEWPORT TIGER FUND
Supplement to Prospectus dated April 30, 1997
(Replacing Supplement dated July 1, 1997)
The Fund's Prospectus is amended as follows:
(A) Effective April 30, 1998, the Fund's name is changed to "Newport Tiger
Fund". The Fund's address and telephone number remain unchanged.
(B) The Fund's Trustees approved a name change for the Fund's Class D shares and
eliminated the Class D share initial sales charge. The Fund's "Class D" shares
have been renamed "Class C" shares and any reference in the Fund's Prospectus to
"Class D" shares is now a reference to "Class C" shares. Except as described
below, the other features of Class D shares remain unchanged, including the
1.00% contingent deferred sales charge.
In connection with this change, the "Maximum Sales Charge" under Shareholder
Transaction Expenses on Page 2 is deleted, and the "Maximum Initial Sales Charge
Imposed on a Purchase" is reduced to 0.00%.
Purchases of $1,000,000 or more must be for Class A shares.
The Fund's Examples, as they relate to cumulative transaction and operating
expenses attributable to a hypothetical $1,000 investment in Class C shares for
the periods specified, assuming a 5% annual return and, unless otherwise noted,
redemption at period end, are revised as follows. The 5% return and expenses
used in the Examples should not be considered indicative of actual or expected
Fund performance or expenses, both of which will vary:
Example 1 Example 2
(assumes
redemption at (assumes no
period end) redemption)
Period Class C Class C
1 year $35 $25
3 years $78 $78
5 years $133 $133
10 years $283 $283
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The two paragraphs following the subcaption Class D Shares under the caption How
to Buy Shares are revised in their entirety as follows:
Class C Shares. Class C shares are offered at net asset value and are subject to
a 0.75% annual distribution fee and a 1.00% contingent deferred sales charge on
redemptions made within one year after the end of the month in which the
purchase was accepted.
The Distributor pays financial service firms an initial commission of 1.00% on
Class C share purchases and an ongoing commission of 0.75% annually commencing
after the shares purchased have been outstanding for one year. Payment of the
ongoing commission is conditioned on receipt by the Distributor of the 0.75%
annual distribution fee referred to above. The commission may be reduced or
eliminated if the distribution fee paid by each Fund is reduced or eliminated
for any reason.
The Fund's Class C share exchange policy will be modified to permit only one
"roundtrip" exchange per three- month period, measured from the date of the
initial purchase. For example, an exchange from Fund X to Fund Y and back to
Fund X would be permitted only once during each three-month period.
(C) The Fund's Distributor has changed its name to "Liberty Financial
Investments, Inc." The Distributor's address and telephone number remain
unchanged.
NT-36/937E-0398 March 10, 1998
