M O N A R C H F U N D S
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Treasury Cash Fund
Government Cash Fund
Cash Fund
Supplement Dated November 17, 1997 to
Prospectus Dated January 1, 1997
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A special meeting of shareholders of the Funds is scheduled to be held December
12, 1997. At the meeting, shareholders will be asked to authorize the Trust, on
behalf of the Funds, to approve a new investment advisory agreement between Core
Trust and Forum Investment Advisors, LLC with respect to each Portfolio. The
record date to determine shareholders eligible to vote at the meeting was
November 3, 1997.
The shareholder vote is required because Forum Advisors, Inc., the current
investment subadviser to the Portfolios, is purchasing Linden Asset Management,
Inc., the current investment adviser to the Portfolios. Prior to the
acquisition, which is scheduled for January 2, 1998, Forum Advisors, Inc.
anticipates that it will reorganize into a new company - Forum Investment
Advisors, LLC. The acquisition will result in the automatic termination of the
current investment advisory agreement of the Portfolios. Accordingly, the Board
has proposed that shareholders approve the new proposed advisory agreement,
which is the same in all material respects (including the fees payable) to the
current advisory agreement. The acquisition is contingent upon approval of the
new advisory agreement.
It is anticipated that Forum Investment Advisors will enter into a consulting
agreement with a new company solely owned by Mr. Fischer, under which Mr.
Fischer will continue to provide his portfolio management services.
