PERFORMANCE FUNDS TRUST, 497, 1996-06-05

PERFORMANCE FUNDS TRUST
497, 1996-06-05

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<PAGE>   1
 
                            PERFORMANCE FUNDS TRUST
 
                     THE SHORT TERM GOVERNMENT INCOME FUND
                  THE INTERMEDIATE TERM GOVERNMENT INCOME FUND
                                THE EQUITY FUND
                                 (THE "FUNDS")
 
Supplement dated June 4, 1996 to Consumer Service Class Prospectus dated
September 29, 1995 (the "Prospectus"). This Supplement should be read in
conjunction with the section in the Funds' Prospectus entitled "Management of
the Funds".
 
     Effective immediately, Mr. Jonathan Rogers, Portfolio Manager at Trustmark
National Bank will be responsible for the day-to-day management of the Short
Term Government Income Fund's portfolio. Mr. Rogers has been a Portfolio Manager
at Trustmark National Bank since 1990.
<PAGE>   2
 
                            PERFORMANCE FUNDS TRUST
 
                     THE SHORT TERM GOVERNMENT INCOME FUND
                  THE INTERMEDIATE TERM GOVERNMENT INCOME FUND
                                THE EQUITY FUND
                                 (THE "FUNDS")
 
Supplement dated June 4, 1996 to Institutional Class Prospectus dated September
29, 1995 (the "Prospectus"). This Supplement should be read in conjunction with
the section in the Funds' Prospectus entitled "Management of the Funds".
 
     Effective immediately, Mr. Jonathan Rogers, Portfolio Manager at Trustmark
National Bank will be responsible for the day-to-day management of the Short
Term Government Income Fund's portfolio. Mr. Rogers has been a Portfolio Manager
at Trustmark National Bank since 1990.