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Amcore Vintage U.S. Government Obligations Fund
Amcore Vintage Fixed Income Fund
Amcore Vintage Intermediate Tax Free Fund
Amcore Vintage Equity Fund
Amcore Vintage Balanced Fund
Amcore Vintage Aggressive Growth Fund
Amcore Vintage Fixed Total Return Fund
Supplement Dated March 5, 1996 to Prospectus Dated June 1, 1995
The Prospectus is hereby supplemented as follows:
1. The Financial Highlights in the table below set forth certain
financial data and investment results of the Balanced Fund and the Fixed Total
Return Fund, since the commencement of operations of these Funds, expressed in
one share outstanding throughout the period. The Financial Highlights are
derived from the unaudited financial statements of the Funds for the periods
indicated. The Financial Highlights should be read in conjunction with the
unaudited financial statements, related notes and other information included in
the Statement of Additional information.
2. The Weighted Average Maturity restriction for the Fixed Total
Return Fund has been amended from 4 to 6 years to 3 to 7 years.
3. The Fixed Total Return Fund will invest substantially all, but
in no event less that 75%, of the value of its total assets in fixed income
securities with stated or remaining maturities of 15 years or less or
securities with a stated or remaining maturity in excess of 15 years if such
securities have an unconditional put to sell or redeem the security within 15
years from the date of purchase. While this does not represent a change in the
fund's investment policy, it clarifies the circumstance in which the fund may
hold fixed income securities with a remaining maturity of 15 years or more.
4. The Information for Dean C. Countryman which appears on page 31
of the Prospectus is deleted in its entirety. As of January 1, 1996, Elizabeth
S. Pierson has been assigned responsibility for the day-to-day management of
Fixed Income, Fixed Total Return and Tax-Free Funds' portfolios. Ms. Pierson
has been employed by AMCORE Capital Management, Inc. (or a predecessor) since
1984. She began her investment career in 1984. She has a B.S. degree from the
University of Illinois, Champaign-Urbana and is a Chartered Financial Analyst.
She has been responsible for investment management and credit responsibilities
in numerous individually managed advisory portfolios. She has also been
co-manager of Balanced Fund since inception.
5. The Information for Darrell C. Thompson which appears on page
31 of the Prospectus is changed to read as follows: Darrell C. Thompson is the
portfolio manager of the Equity Fund and Balanced Fund. Clyde N. Powers is the
portfolio manager of the Aggressive Growth Fund since the inception of the
fund. Prior to July 1995 he was employed by Union Bank of San Francisco as
Managing Director of Investing Operations. He began his investement career in
1972. He has an BBA degree in Finance from the University of
Wisconsin-Milwaukee and is a Chartered Financial Analyst.
6. As of February 1, 1996 Julie A. O'Rourke has been assigned the
responsibility of co-manager for the Balanced Fund. Ms. O'Rourke has been
employed by AMCORE Capital Management, Inc. (or a predecessor) since 1991 where
she began her investment career. She has a B.S. degree in Finance from
Rockford College, Rockford, Illinois. She also received her Chartered Financial
Analyst designation in 1995. Other responsibilities include equity research and
equity account management. She is chairperson of the Equity Research Committee.
7. All references in the Prospectus to The Winsbury Company, 1900
East Dublin-Granville Road, Columbus, Ohio 43229 are changed in BISYS Fund
Services, 3435 Stelzer Road, Columbus, Ohio 43219, in order to reflect the
change in the name and the address of The Winsbury Company.
This supplement supercedes all previous supplements.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE
PROSPECTUS FOR FUTURE REFERENCE
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<TABLE>
<CAPTION>
Fixed
Total
Balanced Return
Fund Fund
--------------------- ---------------------
June 1, 1995 to June 15, 1995 to
September 30, 1995 September 30, 1995
(a) (a)
--------------------- ---------------------
<S> <C> <C> <C> <C>
Net Asset Value, Beginning of Period $ 10.00 $ 10.00
--------------------- ---------------------
INVESTMENT ACTIVITIES:
Net investment income 0.10 0.16
Net realized and unrealized
gains (losses) on investments 0.53
--------------------- ---------------------
Total from Investment Activities 0.63 0.16
--------------------- ---------------------
DISTRIBUTIONS:
Net investment income (0.09) (0.15)
Net realized gains
--------------------- ---------------------
Total Distributions (0.09) (0.15)
--------------------- ---------------------
Net Asset Value, End of Period $ 10.54 $ 10.01
===================== =====================
Total Return 6.26% (b) 1.59% (b)
RATIOS/SUPPLEMENTARY DATA:
Net Assets at end of period (000) $ 16,788 $ 40,483
Ration of expenses to average
net assets 1.37% (c) 1.16% (c)
Ration of net investment income to
average net assets 2.77% (c) 5.65% (c)
Ratio of expenses to average
net assets* 1.37% (c) 1.18% (c)
Ratio of net investment income to
average net assets* 2.77% (c) 5.63% (c)
Portfolio Turnover 13.30% 25.49%
<FN>
*During the period certain fees were voluntarily reduced. If such
voluntary fee reductions had not occurred, the ratios would have been
as indicated.
(a) Period from commencement of operations.
(b) Aggregate total return.
(c) Annualized.
</TABLE>
