<PAGE>
REMBRANDT FUNDS(R)
INVESTOR SHARES
SUPPLEMENT DATED APRIL 20, 1998 TO
PROSPECTUS DATED APRIL 30, 1997 AND REVISED OCTOBER 10, 1997
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS AND SHOULD BE RETAINED AND READ IN CONJUNCTION WITH SUCH
PROSPECTUS.
As of April 20, 1998, purchase, redemption and exchange orders for the Treasury
Money Market Fund and the Tax-Exempt Money Market Fund submitted to the Transfer
Agent before 5:00 p.m., Eastern time, by accounts for which ABN AMRO North
America, Inc. or its affiliates act in a fiduciary, agency, investment advisory
or custodial capacity will become effective at the net asset value determined as
of 5:00 p.m., Eastern time that same day.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
REMBRANDT FUNDS(R)
COMMON SHARES
SUPPLEMENT DATED APRIL 20, 1998 TO
PROSPECTUS DATED APRIL 30, 1997 AND REVISED OCTOBER 10, 1997
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS AND SHOULD BE RETAINED AND READ IN CONJUNCTION WITH SUCH
PROSPECTUS.
As of April 20, 1998, purchase, redemption and exchange orders for the Treasury
Market Fund and the Tax-Exempt Money Market Fund submitted to the Transfer Agent
before 5:00 p.m., Eastern time, by accounts for which ABN AMRO North America,
Inc. or its affiliates act in a fiduciary, agency, investment advisory or
custodial capacity will become effective at the net asset value determined as of
5:00 p.m., Eastern time that same day.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
