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PERFORMANCE FUNDS TRUST
SUPPLEMENT DATED NOVEMBER 22, 1996
TO PROSPECTUSES DATED SEPTEMBER 27, 1996
This Supplement is provided to update, and should be read in conjunction
with, the information provided in the Prospectus.
Effective November 11, 1996 BISYS Fund Services, Inc. ("BISYS") became the
successor Transfer Agent to Furman Selz LLC. All references to Furman Selz as
Transfer Agent in the Prospectus shall refer to BISYS. At a meeting on October
3, 1996 the Board of Trustees of Performance Funds Trust also approved, as
successor Administrator to Furman Selz LLC, BISYS Fund Services Limited
Partnership d/b/a/ BISYS Fund Services. The Board of Trustees also approved, as
successor Accounting Agent to Furman Selz LLC, BISYS Fund Services, Inc. In
addition, the Board approved a new Distribution Agreement with Performance Funds
Distributor, Inc., which will become an affiliate of each BISYS entity at the
time of conversion. BISYS and its affiliates have their principal places of
business at 3435 Stelzer Road, Columbus, Ohio 43219. BISYS and its affiliates
will perform the same services as each predecessor at an identical fee. The
remaining conversions are expected to occur during the last quarter of 1996.
PLEASE NOTE THE FOLLOWING REVISIONS OF PROCEDURE, EFFECTIVE IMMEDIATELY. Except
as indicated below, all other procedures in the Funds' Prospectuses will remain
in effect:
PURCHASES
Purchases orders for the Money Market Fund received by 1:30 p.m. Eastern
Standard Time will become effective that day. Purchase orders for all other
Funds received prior to 4:00 p.m. Eastern Time and transmitted to the
Distributor prior to 4:00 p.m. Eastern Time will become effective that day.
Please call 1-800-737-3676 for wiring instructions. A completed application
must be overnighted to the Fund in advance of the wire to Performance Funds
Trust c/o BISYS Fund Services, Inc. 3435 Stelzer Road, Columbus, OH 43219-8021.
Notification must be given to the Fund at 1-800-737-3676 prior to 4:00 p.m.,
Eastern Standard Time, of the wire date or 1:30 p.m. Eastern Standard Time in
the case of the Money Market Fund.
Payments to open new accounts should be sent to Performance Funds Trust,
P.O. Box 182484, Columbus, OH 43218-2484, together with a completed application.
Purchases made by check in any Fund are not permitted to be redeemed until
payment of the purchase has been collected, which may take up to fifteen days.
No third party or foreign checks are accepted.
INDIVIDUAL RETIREMENT ACCOUNTS
The Funds may be used as an investment for new or existing IRAs. Shares may
also be purchased for IRAs established with Trustmark or other authorized
custodians.
EXCHANGE PRIVILEGES
EXCHANGE BY MAIL -- A letter of instruction should be sent by mail to
BISYS. No signature guarantee is required.
REDEMPTIONS
BY MAIL -- Requests should be addressed to Performance Funds Trust, P.O.
Box 182484, Columbus, OH 43218-2484. To protect shareholder accounts, the Funds
and its transfer agent from fraud, a signature
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guarantee will be required when redemptions proceeds are to be sent to an
address other than the registered address.
Telephone redemption and telephone exchanges will be suspended for a period
of 10 days following a telephone address change.
If you elect to receive distributions in cash and checks (1) are returned
and marked as "undeliverable" or (2) remain uncashed for six months, your cash
election will be changed automatically and your future dividend and capital
gains distributions will be reinvested in the Fund at the per share net asset
value determined as of the date of payment of the distribution. In addition, any
undeliverable checks or checks that remain uncashed for six months will be
canceled and will be reinvested in the Fund at the per share net asset value
determined as of the date of cancellation.
SHAREHOLDER INQUIRIES
All shareholder inquiries should be directed to Performance Funds Trust,
c/o BISYS Fund Services, Inc., P.O. Box 182484, Columbus, OH 43218-2484.
