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PACIFIC ADVISORS FUND INC.
SUPPLEMENT DATED DECEMBER 16, 1996 TO THE
PROSPECTUS DATED MAY 1, 1996
This Supplement updates certain information contained in the above-dated
Prospectus of Pacific Advisors Fund Inc. (the "Company"). You should retain
both the Supplement and Prospectus for future reference. You may obtain an
additional copy of the Prospectus, free of charge, by calling 1-800-282-6693.
The following paragraph is inserted after the last paragraph on the first page
of the Prospectus under the caption "About this Prospectus":
MUTUAL FUND SHARES ARE NOT DEPOSITS OR OBLIGATIONS OF, OR GUARANTEED BY, ANY
DEPOSITORY INSTITUTION. SHARES ARE NOT INSURED BY THE FEDERAL DEPOSIT
INSURANCE CORPORATION (FDIC), THE FEDERAL RESERVE BOARD, OR ANY OTHER AGENCY,
AND ARE SUBJECT TO INVESTMENT RISK, INCLUDING THE POSSIBLE LOSS OF PRINCIPAL.
The Expense Table on page 4 of the Prospectus is amended to add the following
note:
The $5.00 Exchange Fee currently is being waived by Pacific Global Investor
Services, Inc., the Company's Transfer Agent.
The last sentence in the next to the last paragraph on the first column of page
24 of the Prospectus is amended to state:
A $5.00 service fee applies to each exchange, but currently is being waived by
Pacific Global Investor Services, Inc., the Company's Transfer Agent.
The following disclosure amends all references to the MMG Money Management
Group, Inc. in the Company's Prospectus:
Effective December 31, 1996, MMG Money Management Group, Inc. (which has
recently changed its name to Expansion Funds of Arizona, Inc.) will cease to
serve as the investment sub-adviser for the Income Fund, a series of the
Company. As provided for in its agreement with the Income Fund, Pacific Global
Investment Management Company ("Pacific Global"), the investment manager for
the Income Fund, will assume full responsibility for making and implementing
all investment decisions for the Income Fund on that date. George A. Henning
and Thomas H. Hanson will be primarily responsible for the day-to-day portfolio
management of the Income Fund. Mr. Henning is the principal stockholder and
President and Director of the Manager. Mr. Hanson is an Executive Vice
President of the Manager.
At the February, 1997 Meeting of the Board of Directors of the Company, the
Manager may recommend that the Board consider the selection of another
investment adviser to serve as either a co-manager or sub-adviser to the
Income Fund.
