THE BOULEVARD FUNDS
SUPPLEMENT DATED MAY 1, 1994
TO PROSPECTUSES DATED JANUARY 31, 1994
FOR THE BLUE-CHIP GROWTH FUND
(as previously Supplemented March 31, 1994)
Effective May 18, 1994 the Boulevard Funds will be renamed "First American
Mutual Funds"(the "Funds"), and the name of the Boulevard Blue-Chip Growth
Fund will be changed to the "Diversified Growth Fund."
Also effective May 18, 1994, the following sales charge rates will be in
effect for the Diversified Growth Fund:
<TABLE>
<CAPTION>
Maximum Amount of Sales
Sales Charge as Sales Charge as Charge Reallowed to
Percentage of Offering Percentage of Net Asset Participating
Price Value Institutions
<S> <C> <C> <C>
Less than $50,000.... 4.50% 4.71% 4.05%
$50,000 but less than
$100,000.......... 4.00% 4.17% 3.60%
$100,000 but less than
$250,000.......... 3.50% 3.63% 3.15%
$250,000 but less than
$500,000.......... 2.75% 2.83% 2.47%
$500,000 but less than
$1,000,000....... 2.00% 2.04% 1.80%
$1,000,000 and
over.................... 0.00% 0.00% 0.00%
</TABLE>
Effective May 1, 1994, SEI Financial Services Company ("SFS"), 680 East
Swedesford Road, Wayne, PA 19087 will act as the Distributor for The Funds
and SEI Financial Management Corporation ("SFM"), 680 East Swedesford Road,
Wayne, PA 19087 will act as the Administrator for the Funds. The
Administrator will serve without compensation until June 10, 1994.
THE BOULEVARD FUNDS
SUPPLEMENT DATED MAY 1, 1994
TO PROSPECTUSES DATED JANUARY 31, 1994
FOR THE STRATEGIC BALANCE FUND
(as previously Supplemented March 31, 1994)
Effective May 18, 1994 the Boulevard Funds will be renamed "First American
Mutual Funds"(the "Funds"), and the name of the Boulevard Strategic Balance
Fund will be changed to the "Equity Income Fund."
Also effective May 18, 1994, the following sales charge rates will be in
effect for the Equity Income Fund:
<TABLE>
<CAPTION>
Maximum Amount of Sales
Sales Charge as Sales Charge as Charge Reallowed to
Percentage of Offering Percentage of Net Asset Participating
Price Value Institutions
<S> <C> <C> <C>
Less than $50,000.... 4.50% 4.71% 4.05%
$50,000 but less than
$100,000.......... 4.00% 4.17% 3.60%
$100,000 but less than
$250,000.......... 3.50% 3.63% 3.15%
$250,000 but less than
$500,000.......... 2.75% 2.83% 2.47%
$500,000 but less than
$1,000,000....... 2.00% 2.04% 1.80%
$1,000,000 and
over.................... 0.00% 0.00% 0.00%
</TABLE>
Effective May 1, 1994, SEI Financial Services Company ("SFS"), 680 East
Swedesford Road, Wayne, PA 19087 will act as the Distributor for The Funds
and SEI Financial Management Corporation ("SFM"), 680 East Swedesford Road,
Wayne, PA 19087 will act as the Administrator for the Funds. The
Administrator will serve without compensation until June 10, 1994.
THE BOULEVARD FUNDS
SUPPLEMENT DATED MAY 1, 1994
TO PROSPECTUSES DATED JANUARY 31, 1994
FOR THE MANAGED MUNICIPAL FUND
(as previously Supplemented March 31, 1994)
Effective May 18, 1994 the Boulevard Funds will be renamed "First American
Mutual Funds"(the "Funds"), and the name of the Boulevard Managed Municipal
Fund will be changed to the "Limited Term Tax Free Income Fund."
Effective May 18, 1994, the Board of Trustees of the Funds have approved an
additional non-fundamental policy for the Limited Term Tax Free Income Fund
which limits the Fund's investment in securities subject to the alternative
minimum tax to 20% of its net assets.
Also effective May 18, 1994, the following sales charge rates will be in
effect for the Limited Term Tax Free Income Fund:
<TABLE>
<CAPTION>
Maximum Amount of Sales
Sales Charge as Sales Charge as Charge Reallowed to
Percentage of Offering Percentage of Net Asset Participating
Price Value Institutions
<S> <C> <C> <C>
Less than $50,000.... 2.00% 2.04% 1.80%
$50,000 but less than
$100,000.......... 1.50% 1.52% 1.35%
$100,000 but less than
$250,000.......... 1.00% 1.01% 0.90%
$250,000 but less than
$500,000.......... 0.75% 0.76% 0.68%
$500,000 but less than
$1,000,000....... 0.50% 0.50% 0.45%
$1,000,000 and
over.................... 0.00% 0.00% 0.00%
</TABLE>
Effective May 1, 1994, SEI Financial Services Company ("SFS"), 680 East
Swedesford Road, Wayne, PA 19087 will act as the Distributor for The Funds
and SEI Financial Management Corporation ("SFM"), 680 East Swedesford Road,
Wayne, PA 19087 will act as the Administrator for the Funds. The
Administrator will serve without compensation until June 10, 1994.
THE BOULEVARD FUNDS
SUPPLEMENT DATED MAY 1, 1994
TO PROSPECTUSES DATED JANUARY 31, 1994
FOR THE MANAGED INCOME FUND
(as previously Supplemented March 31, 1994)
Effective May 18, 1994 the Boulevard Funds will be renamed "First American
Mutual Funds"(the "Funds"), and the name of the Boulevard Managed Income Fund
will be changed to the "Managed Income Fund."
Also effective May 18, 1994, the following sales charge rates will be in
effect for the Managed Income Fund:
<TABLE>
<CAPTION>
Maximum Amount of Sales
Sales Charge as Sales Charge as Charge Reallowed to
Percentage of Offering Percentage of Net Asset Participating
Price Value Institutions
<S> <C> <C> <C>
Less than $50,000.... 2.00% 2.04% 1.80%
$50,000 but less than
$100,000.......... 1.50% 1.52% 1.35%
$100,000 but less than
$250,000.......... 1.00% 1.01% 0.90%
$250,000 but less than
$500,000.......... 0.75% 0.76% 0.68%
$500,000 but less than
$1,000,000....... 0.50% 0.50% 0.45%
$1,000,000 and
over.................... 0.00% 0.00% 0.00%
</TABLE>
Effective May 1, 1994, SEI Financial Services Company ("SFS"), 680 East
Swedesford Road, Wayne, PA 19087 will act as the Distributor for The Funds
and SEI Financial Management Corporation ("SFM"), 680 East Swedesford Road,
Wayne, PA 19087 will act as the Administrator for the Funds. The
Administrator will serve without compensation until June 10, 1994.
