The Pillar Funds
Intermediate-Term Government Securities Fund
Pennsylvania Municipal Securities Fund
Mid Cap Fund
Supplement Dated December 14, 1999
to the Class I Shares Prospectus dated April 30, 1999
This supplement provides new and additional information beyond that contained in
the Prospectus and should be retained and read in conjunction with the
Prospectus.
Under the heading "Portfolio Managers" on page 37, paragraphs 2, 3, 6 and 7
have been deleted and replaced with the following:
Sarah Krieger serves as a Vice President of the Advisor. She has
managed the Intermediate-Term Government Securities Fund since
December, 1999. Prior to joining the Advisor in 1997, Ms. Krieger
managed fixed income portfolios for Meredith, Martin & Kaye (MMK)
during 1995 and 1996. Prior to joining MMK, Ms. Krieger served as a
sales associate for Freeman Securities in 1994. She has more than 16
years of experience in the investment field.
Charlene P. Palmer serves as a Vice President of the Advisor. She has
managed the Tax-Exempt Money Market Fund since June, 1996, the New
Jersey Municipal Securities Fund since May, 1992, and the Pennsylvania
Municipal Securities Fund since November, 1999. She joined the Advisor
in 1981 and has managed investments for the Advisor for the past 18
years, with an emphasis on tax-exempt bonds.
Gregory S. Huning serves as a Senior Vice President of the Advisor. He
has co-managed the Equity Growth Fund since April, 1999 and began
co-managing the Mid Cap Fund in November, 1999. Prior to joining the
Advisor in 1995, Mr. Huning served as a senior equity portfolio
manager for the Robert Wood Johnson Foundation in 1994. Mr. Huning has
more than 29 years of experience in investment management.
Glen C. Corbitt serves as a Vice President of the Advisor. He has
co-managed the Equity Growth Fund since April, 1999 and began
co-managing the Mid Cap Fund in November, 1999. Prior to joining the
Advisor in 1995, Mr. Corbitt served as an accountant for Rockefeller
Financial Services in 1994.
Under the same heading on page 37, paragraph 5 has been deleted in its entirety.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
PIL-A-033-02
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The Pillar Funds
Intermediate-Term Government Securities Fund
Pennsylvania Municipal Securities Fund
Supplement Dated December 14, 1999 to the
Class A and B Shares Prospectus dated April 30, 1999
This supplement provides new and additional information beyond that contained in
the Prospectus and should be retained and read in conjunction with the
Prospectus.
Under the heading "Portfolio Managers" beginning on page 44, paragraphs 2 and 3
have been deleted and replaced with the following:
Sarah Krieger serves as a Vice President of the Advisor. She has
managed the Intermediate-Term Government Securities Fund since
December, 1999. Prior to joining the Advisor in 1997, Ms. Krieger
managed fixed income portfolios for Meredith, Martin & Kaye (MMK)
during 1995 and 1996. Prior to joining MMK, Ms. Krieger served as a
sales associate for Freeman Securities in 1994. She has more than 16
years of experience in the investment field.
Charlene P. Palmer serves as a Vice President of the Advisor. She has
managed the Tax-Exempt Money Market Fund since June, 1996, the New
Jersey Municipal Securities Fund since May, 1992, and the Pennsylvania
Municipal Securities Fund since November, 1999. She joined the Advisor
in 1981 and has managed investments for the Advisor for the past 18
years, with an emphasis on tax-exempt bonds.
Under the same heading on page 45, paragraph 5 has been deleted in its entirety.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
PIL-A-032-02
