COLONIAL U.S. STOCK FUND
Supplement to Prospectus
Dated October 28, 1996, Revised February 28, 1997
(Replacing Supplement dated May 1, 1997)
The following information is added after the first paragraph
under the caption THE FUND'S FINANCIAL HISTORY:
<TABLE>
<CAPTION>
Unaudited
Six months ended December 31, 1996
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Class A Class B Class D
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<S> <C> <C> <C>
Net asset value - Beginning of period $14.470 $14.360 $14.410
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INCOME FROM INVESTMENT OPERATIONS:
Net investment income (a) 0.056 0.001 0.001
Net realized and unrealized gain (loss) 1.344 1.329 1.339
----- ----- -----
Total from Investment Operations 1.400 1.330 1.340
----- ----- -----
LESS DISTRIBUTIONS DECLARED TO SHAREHOLDERS:
From net investment income (0.050) --- ---
From net realized gains (1.250) (1.250) (1.250)
------- ------- -------
Total Distributions Declared
to Shareholders (1.300) (1.250) (1.250)
------- ------- -------
Net asset value - End of period $14.570 $14.440 $14.500
======== ======== ========
Total return(b) 9.49% (e) 9.08% (e) 9.12% (e)
======== ======== ========
RATIOS TO AVERAGE NET ASSETS
Expenses 1.43% (f)(c) 2.18% (f) (c) 2.18% (f) (c)
Net investment income 0.76% (f)(c) 0.01% (f) (c) 0.01% (f) (c)
Portfolio turnover 64% (e) 64% (e) 64% (e)
Average commission rate (d) $0.0345 $0.0345 $0.0345
Net assets at end of period (000) $180,620 $331,057 $9,334
</TABLE>
(a) Per share data was calculated using average shares
outstanding during the period.
(b) Total return at net asset value assuming all distributions
reinvested and no initial sales charge or contingent
deferred sales charge.
(c) The benefits derived from custody credits and directed
brokerage arrangements had no impact. Prior years' ratios
are net of benefits received, if any.
(d) For fiscal years beginning on or after September 1, 1995, a
fund is required to disclose its average commission rate
per share for trades on which commissions are charged.
(e) Not annualized.
(f) Annualized.
Effective April 24, 1997, Peter Wiley no longer co-managed the
Fund.
Mark Stoeckle, Vice President of the Adviser, has managed or co-
managed the Fund since November, 1996. Prior to joining the
Adviser in 1996, Mr. Stoeckle was a portfolio manager at
Massachusetts Financial Services Company and an investment banker
at Bear, Stearns & Co. Inc.
The third paragraph under the caption HOW THE FUND PURSUES ITS
OBJECTIVE AND CERTAIN RISK FACTORS is deleted in its entirety.
A new paragraph is added as the second paragraph under the
caption HOW TO BUY SHARES as follows:
The Fund also offers Class Z shares, which are offered through a
separate Prospectus only to (i) certain institutions (including
certain insurance companies and banks investing for their own
account, trusts, endowment funds, foundations and investment
companies) and defined benefit retirement plans investing a
minimum of $5 million in the Fund and (ii) the Adviser and its
affiliates.
SF-36/724D-0597 May 30, 1997
