SUPPLEMENT DATED APRIL 28, 1999
TO
PROSPECTUS DATED MARCH 1, 1999
FOR
MONEY MARKET FUND
GOVERNMENT SECURITIES FUND
ASSET ALLOCATION FUND
S&P 500 INDEX FUND
INTERNATIONAL EQUITY FUND
REIT INDEX FUND
OF
AON FUNDS
The Aon Savings Plan and Aon Corporation and its affiliates have
notified the Aon Funds they intend to redeem their shares in the S&P 500 Index
Fund and the International Equity Fund (collectively, the "Affected Series"). As
a result of these redemptions, the Affected Series will be greatly reduced in
size.
On April 28, 1999, the Aon Funds Board of Trustees approved termination
and liquidation of the Affected Series. The Affected Series will be terminated
and liquidated upon the redemption of the Aon Savings Plan shares, currently
scheduled for June 30, 1999. As soon as practicable after the redemption of the
Aon Savings Plan shares, Aon Funds will apply the assets of the Affected Series
to the satisfaction and discharge of all existing debts and obligations of the
Affected Series (including necessary expenses of termination and liquidation and
establishment of any reserves deemed appropriate), and then distribute in one or
more payments the remaining assets among the shareholders of the Affected
Series. Each shareholder will receive his or her proportionate share of each
payment.
As a result of their impending termination and liquidation, the
Affected Series will not accept new investments (including investments made by
exchanging shares of another Aon Fund for shares of the Affected Series) except
for investments made pursuant to the payroll deduction program of Aon
Corporation, which will continue to be accepted until June 1, 1999.
