<PAGE> 1
ONE FUND, INC.
SUPPLEMENT DATED JUNE 30, 2000 TO THE PROSPECTUS
DATED DECEMBER 15, 1999
ONE FUND'S PORTFOLIO MANAGERS
The following changes and additions are made on pages 22 and 23 of the
prospectus:
Joseph Brom has retired as president of the Adviser. The Adviser's president is
now Christopher Carlson. He is a vice president and senior investment officer of
ONLI. He and Michael Boedeker oversee the management of the Money Market,
Income, Income & Growth, Growth, Small Cap and S&P 500 Index portfolios. Mr.
Carlson has a bachelor's degree in psychology from the University of Richmond
and a master of business administration degree in finance from the University of
Cincinnati. He has been an investment officer of ONLI since 1993. For twelve
years before that he was involved in developing commercial real estate.
Bret Parrish is a vice president of the Adviser and an investment officer of
ONLI. He has managed the S&P 500 Index portfolio since May 2000. For four years
prior to that, he had been a fixed income portfolio manager for the Ohio
Casualty Group. For two years before that he was in a financial management
training program for Ohio Casualty while also teaching finance courses at Miami
University. Mr. Parrish is a chartered financial analyst with a bachelor of arts
degree in economics from Dennison University and a master of business
administration degree in finance from Miami University.
In addition to Alexandre de Bethmann and Henry Frantzen, the portfolio managers
of the International portfolio now include John Quartarolo and Stephen Auth.
John Quartarolo has been an assistant vice president of FGIM since January 2000.
He joined FGIM as a senior investment analyst in December 1998. For three years
before that, he was an assistant vice president - global securities research &
economics for Merrill Lynch, and for three years prior to that he was a ratings
analyst for Standard & Poor's. Mr. Quartarolo is a chartered financial analyst.
He has a bachelor of business administration degree and a master of business
administration degree from Hofstra University.
Stephen Auth joined FGIM in May 2000 as senior vice president & director of
global portfolio management. For fifteen years prior to that, he was employed by
Prudential Investments where he served the last nine of those years as a
portfolio manager and was also senior managing director. Mr. Auth is a chartered
financial analyst. He has a bachelors degree from Princeton University and a
master of business administration degree from Harvard University.
