ABN AMRO Funds
(formerly, the "Rembrandt Funds")
Money Market Funds: Treasury Money Market Fund, Government Money Market Fund,
Money Market Fund, and Tax-Exempt Money Market Fund
Fixed Income Funds: Fixed Income Fund, Intermediate Government Fixed Income
Fund, Tax-Exempt Fixed Income Fund, International Fixed Income Fund, and
Limited Volatility Fixed Income Fund
Balanced Fund: Balanced Fund
Equity Funds: Value Fund, Growth Fund, International Equity Fund, Small Cap
Growth Fund, Real Estate Fund, Asian Tigers Fund, Latin America Equity Fund
and TransEurope Fund
Supplement dated March 8, 1999 to the
Prospectus - Common Share Class
dated April 30, 1998
This supplement contains new and additional information beyond that contained
in the Prospectus and should be retained and read in conjunction with such
Prospectus.
Effective March 15, 1999, the subscript "(US)" will be added to each Fund's
name, after the word "Fund" as follows:
Treasury Money Market Fund(US), Government Money Market Fund(US), Money Market
Fund(US), Tax-Exempt Money Market Fund(US), Fixed Income Fund(US), Intermediate
Government Fixed Income Fund(US), Tax-Exempt Fixed Income Fund(US),
International Fixed Income Fund(US), Limited Volatility Fixed Income Fund(US),
Balanced Fund(US), Value Fund(US), Growth Fund(US), International Equity
Fund(US), Small Cap Growth Fund(US), Real Estate Fund(US), Asian Tigers
Fund(US), Latin America Equity Fund(US), and TransEurope Fund(US).
Effective May 10, 1999, the following will supplement information found in
the "Your Account and Doing Business with Us - How to Exchange Shares"
beginning on page 13:
Exchanges by Timing Accounts. In the case of market timing or allocation
services ("Timing Accounts"), the Distributor will deduct an administrative
service fee of $5.00 per exchange. Timing Accounts generally include
accounts administered so as to redeem or purchase Shares based upon certain
predetermined market indicators.
The Funds reserve the right to temporarily or permanently terminate the
exchange privilege or reject any specific purchase order for any Timing
Account or any person whose transactions seem to follow a timing pattern who:
(i) makes an exchange request out of a Fund within two weeks of an earlier
exchange request out of the Fund; (ii) makes more than two exchanges out of a
Fund per calendar quarters; or (iii) exchanges Shares equal in value to at
least $5 million, or more than 1% of a Fund's net assets. Accounts under
common ownership or control including accounts administered so as to redeem
to purchase Shares based upon certain predetermined market indicators will be
aggregated for purposes of the exchange limits.
In addition, the Funds reserve the right to refuse the purchase and/or
exchange requests by any Timing Account, person, or groups if, in the
Advisor's judgment a Fund would be unable to invest effectively in accordance
with its investment objectives and policies or would otherwise potentially be
adversely affected. A Shareholder's exchange into a Fund may be restricted
or refused if the Fund receives or anticipates simultaneous orders affecting
significant portions of the Fund's assets, in particular, a pattern of
exchanges that coincides with a market timing strategy may be disruptive to
the Fund and therefore may be refused. The Advisor of the Funds and the
Distributor reserve the right to refuse any order for the purchase of Shares.
The following supplements information found in the "Investment Objectives and
Policies - Balanced Fund" and "Investment Objectives and Policies - Fixed
Income Fund" sections beginning on page 21:
In addition, the Fund may invest in lower quality domestic debt securities,
sometimes referred to as "high-yield" or "junk" bonds. These bonds offer
higher income as well as the prospect for price appreciation, but involve
more risk; for instance, a greater risk of default than U.S. Government bonds
or other high quality, corporate fixed-income securities.
The following supplements information found in the "General Investment
Policies - The Fixed Income and Balanced Funds" section beginning on page 26:
The Fixed Income Fund and Balanced Fund may also invest in debt securities
rated below investment-grade. Securities rated below investment-grade (those
rated below the top four bond rating categories of Standard & Poor's Ratings
Group, Moody's Investors Service, Inc. or another nationally recognized
statistical rating organization or, if unrated, determined by the Advisor to
be of comparable credit quality) are commonly referred to as "junk bonds".
Junk bonds involve greater risk of default, downgrade, or price declines than
investment-grade securities. The market prices of such lower rated debt
securities may decline significantly in periods of general economic
difficulty. In addition, the trading market for these securities is
generally less liquid than for higher rated securities, and the Funds may
have difficulty disposing of these securities at the time they wish to do so.
The lack of a liquid secondary market for certain securities may also make it
more difficult for the Funds to obtain accurate market quotations for
purposes of valuing their portfolios and calculating their net asset value.
The following supplements similar information found in "The Advisor" section
beginning on page 31:
Mark W. Karstrom, Senior Vice President of the Advisor, has served as
portfolio manager for the Intermediate Government Fixed Income Fund and the
Limited Volatility Fixed Income Fund since September, 1996. Mr. Karstrom
joined the Advisor in August, 1996 as a portfolio manager. He served as a
Vice President, Portfolio Manager with Norwest Investment Management and
Trust and a predecessor firm from May, 1985 to July, 1996.
Gregory D. Boal, Senior Vice President of the Advisor, has served as co-
manager of the Tax-Exempt Fixed Income Fund since July, 1997. He also served
as portfolio manager of the Fixed Income Fund from June, 1998 to January,
1999 and as portfolio manager of the fixed income portion of the Balanced
Fund from April, 1997 to January, 1999. Mr. Boal joined the Advisor in
March, 1997 as a portfolio manager. He served as Manager, Fixed Income
Division of First Citizens Bank from November, 1989 to March, 1997.
Todd J. Youngberg, Senior Vice President of the Advisor, served as co-manager
of the fixed income portion of the Balanced Fund and the Fixed Income Fund
from November, 1998 to January, 1999. Mr. Youngberg served as Vice President
and Portfolio Manager of Amerus Life Holdings Inc. from January, 1995 to
November, 1998 and as a securities analyst from June, 1992 to January, 1995.
Messrs. Karstrom, Boal and Youngberg, the Fixed Income Portfolio Management
Team (the "Fixed Income Team"), have served as co-managers of the Fixed
Income Fund and the fixed income portion of the Balanced Fund since January,
1999. The Fixed Income Team as a whole is primarily responsible for the day-
to-day management of the Funds and the members are jointly responsible for
investment decisions of the Funds.
ABN AMRO Funds
(formerly, the "Rembrandt Funds")
Money Market Funds: Treasury Money Market Fund, Government Money
Market Fund, Money Market Fund, and Tax-Exempt Money Market Fund
Fixed Income Funds: Fixed Income Fund, Intermediate Government Fixed
Income Fund, Tax-Exempt Fixed Income Fund, International Fixed Income
Fund, and Limited Volatility Fixed Income Fund
Balanced Fund: Balanced Fund
Equity Funds: Value Fund, Growth Fund, International Equity Fund,
Small Cap Growth Fund, Real Estate Fund, Asian Tigers Fund, Latin
America Equity Fund and TransEurope Fund
Supplement dated March 8, 1999 to the
Prospectus - Investor Share Class
dated April 30, 1998
This supplement contains new and additional information beyond that contained
in the Prospectus and should be retained and read in conjunction with such
Prospectus.
Effective March 15, 1999, the subscript "(US)" will be added to each
Fund's name, after the word "Fund" as follows:
Treasury Money Market Fund(US), Government Money Market Fund(US), Money Market
Fund(US), Tax-Exempt Money Market Fund(US), Fixed Income Fund(US), Intermediate
Government Fixed Income Fund(US), Tax-Exempt Fixed Income Fund(US),
International Fixed Income Fund(US), Limited Volatility Fixed Income Fund(US),
Balanced Fund(US), Value Fund(US), Growth Fund(US), International Equity
Fund(US),Small Cap Growth Fund(US), Real Estate Fund(US), Asian Tigers Fund(US),
Latin America Equity Fund(US), and TransEurope Fund(US).
Effective May 10, 1999, the following will supplement information found in
the "Your Account and Doing Business with Us - How to Purchase, Redeem and
Exchange Shares" beginning on page 12:
Exchanges by Timing Accounts. In the case of market timing or allocation
services ("Timing Accounts"), the Distributor will deduct an administrative
service fee of $5.00 per exchange. Timing Accounts generally include
accounts administered so as to redeem or purchase Shares based upon certain
predetermined market indicators.
The Funds reserve the right to temporarily or permanently terminate the
exchange privilege or reject any specific purchase order for any Timing
Account or any person whose transactions seem to follow a timing pattern who:
(i) makes an exchange request out of a Fund within two weeks of an earlier
exchange request out of the Fund; (ii) makes more than two exchanges out of a
Fund per calendar quarters; or (iii) exchanges Shares equal in value to at
least $5 million, or more than 1% of a Fund's net assets. Accounts under
common ownership or control including accounts administered so as to redeem
to purchase Shares based upon certain predetermined market indicators will be
aggregated for purposes of the exchange limits.
In addition, the Funds reserve the right to refuse the purchase and/or
exchange requests by any Timing Account, person, or groups if, in the
Advisor's judgment a Fund would be unable to invest effectively in accordance
with its investment objectives and policies or would otherwise potentially be
adversely affected. A Shareholder's exchange into a Fund may be restricted
or refused if the Fund receives or anticipates simultaneous orders affecting
significant portions of the Fund's assets, in particular, a pattern of
exchanges that coincides with a market timing strategy may be disruptive to
the Fund and therefore may be refused. The Advisor of the Funds and the
Distributor reserve the right to refuse any order for the purchase of Shares.
The following supplements information found in the "Investment Objectives and
Policies - Balanced Fund" and "Investment Objectives and Policies - Fixed
Income Fund" sections beginning on page 21:
In addition, the Fund may invest in lower quality domestic debt
securities, sometimes referred to as "high-yield" or "junk" bonds.
These bonds offer higher income as well as the prospect for price
appreciation, but involve more risk; for instance, a greater risk of
default than U.S. Government bonds or other high quality, corporate
fixed-income securities.
The following supplements information found in the "General Investment
Policies - The Fixed Income and Balanced Funds" section beginning on page 26:
The Fixed Income Fund and Balanced Fund may also invest in debt
securities rated below investment-grade. Securities rated below
investment-grade (those rated below the top four bond rating
categories of Standard & Poor's Ratings Group, Moody's Investors
Service, Inc. or another nationally recognized statistical rating
organization or, if unrated, determined by the Advisor to be of
comparable credit quality) are commonly referred to as "junk bonds".
Junk bonds involve greater risk of default, downgrade, or price
declines than investment-grade securities. The market prices of such
lower rated debt securities may decline significantly in periods of
general economic difficulty. In addition, the trading market for
these securities is generally less liquid than for higher rated
securities, and the Funds may have difficulty disposing of these
securities at the time they wish to do so. The lack of a liquid
secondary market for certain securities may also make it more
difficult for the Funds to obtain accurate market quotations for
purposes of valuing their portfolios and calculating their net asset
value.
The following supplements similar information found in "The Advisor" section
beginning on page 31:
Mark W. Karstrom, Senior Vice President of the Advisor, has served as
portfolio manager for the Intermediate Government Fixed Income Fund
and the Limited Volatility Fixed Income Fund since September, 1996.
Mr. Karstrom joined the Advisor in August, 1996 as a portfolio
manager. He served as a Vice President, Portfolio Manager with
Norwest Investment Management and Trust and a predecessor firm from
May, 1985 to July, 1996.
Gregory D. Boal, Senior Vice President of the Advisor, has served as
co-manager of the Tax-Exempt Fixed Income Fund since July, 1997. He
also served as portfolio manager of the Fixed Income Fund from June,
1998 to January, 1999 and as portfolio manager of the fixed income
portion of the Balanced Fund from April, 1997 to January, 1999. Mr.
Boal joined the Advisor in March, 1997 as a portfolio manager. He
served as Manager, Fixed Income Division of First Citizens Bank from
November, 1989 to March, 1997.
Todd J. Youngberg, Senior Vice President of the Advisor, served as co-
manager of the fixed income portion of the Balanced Fund and the Fixed
Income Fund from November, 1998 to January, 1999. Mr. Youngberg
served as Vice President and Portfolio Manager of Amerus Life Holdings
Inc. from January, 1995 to November, 1998 and as a securities analyst
from June, 1992 to January, 1995.
Messrs. Karstrom, Boal and Youngberg, the Fixed Income Portfolio Management
Team (the "Fixed Income Team"), have served as co-managers of the Fixed
Income Fund and the fixed income portion of the Balanced Fund since January,
1999. The Fixed Income Team as a whole is primarily responsible for the day-
to-day management of the Funds and the members are jointly responsible for
investment decisions of the Funds.
ABN AMRO Funds
Money Market Funds: Treasury Money Market Fund, Government Money
Market Fund, Money Market Fund, and Tax-Exempt Money Market Fund
Fixed Income Funds: Fixed Income Fund, Intermediate Government Fixed
Income Fund, Tax-Exempt Fixed Income Fund, International Fixed Income
Fund, and Limited Volatility Fixed Income Fund
Balanced Fund: Balanced Fund
Equity Funds: Value Fund, Growth Fund, International Equity Fund,
Small Cap Growth Fund, Real Estate Fund, Asian Tigers Fund, Latin
America Equity Fund, and TransEurope Fund
Supplement dated March 8, 1999 to the
Statement of Additional Information
dated April 30, 1998
This supplement provides new and additional information beyond that contained
in the Statement of Additional Information. It should be retained and read
in conjunction with the Statement of Additional Information.
Effective March 15, 1999, the subscript "(US)" will be added to each
Fund's name, after the word "Fund" as follows:
Treasury Money Market Fund(US), Government Money Market Fund(US), Money Market
Fund(US), Tax-Exempt Money Market Fund(US), Fixed Income Fund(US), Intermediate
Government Fixed Income Fund(US), Tax-Exempt Fixed Income Fund(US),
International Fixed Income Fund(US), Limited Volatility Fixed Income Fund(US),
Balanced Fund(US), Value Fund(US), Growth Fund(US), International Equity
Fund(US), Small Cap Growth Fund(US), Real Estate Fund(US), Asian Tigers
Fund(US), Latin America Equity Fund(US), and TransEurope Fund(US).
ABN AMRO Funds
Small Cap Value Fund
Supplement dated March 8, 1999 to the
Prospectus - Common Share Class
dated June 30, 1998
This supplement provides new and additional information beyond that contained
in the prospectus. It should be retained and read in conjunction with the
prospectus.
Effective March 15, 1999, the subscript "(US)" will be added to the
Fund's name, after the word "Fund" as follows: Small Cap Value Fund(US).
Effective May 10, 1999, the following will supplement information found in
the "Your Account and Doing Business with Us - How to Exchange Shares"
beginning on page 6:
Exchanges by Timing Accounts. In the case of market timing or allocation
services ("Timing Accounts"), the Distributor will deduct an administrative
service fee of $5.00 per exchange. Timing Accounts generally include
accounts administered so as to redeem or purchase Shares based upon certain
predetermined market indicators.
The Fund reserves the right to temporarily or permanently terminate the
exchange privilege or reject any specific purchase order for any Timing
Account or any person whose transactions seem to follow a timing pattern who:
(i) makes an exchange request out of the Fund within two weeks of an earlier
exchange request out of the Fund; (ii) makes more than two exchanges out of
the Fund per calendar quarters; or (iii) exchanges Shares equal in value to
at least $5 million, or more than 1% of the Fund's net assets. Accounts
under common ownership or control including accounts administered so as to
redeem to purchase Shares based upon certain predetermined market indicators
will be aggregated for purposes of the exchange limits.
In addition, the Fund reserves the right to refuse the purchase and/or
exchange requests by any Timing Account, person, or groups if, in the
Advisor's judgment the Fund would be unable to invest effectively in
accordance with its investment objectives and policies or would otherwise
potentially be adversely affected. A Shareholder's exchange into the Fund
may be restricted or refused if the Fund receives or anticipates simultaneous
orders affecting significant portions of the Fund's assets, in particular, a
pattern of exchanges that coincides with a market timing strategy may be
disruptive to the Fund and therefore may be refused. The Advisor of the Fund
and the Distributor reserve the right to refuse any order for the purchase of
Shares.
The following information replaces paragraph 6 of "The Advisor" section
beginning on page 12:
Kurt S. Moeller, Vice President of the Advisor, serves as co-manager
of the Fund. Previously, he was a fundamental equity analyst at
Grantham, Mayo, Van Otterloo & Co. from 1996 through 1998. Mr.
Moeller was a research assistant for the Indiana University Foundation
from 1995 through 1996. He earned an M.B.A. in Finance from Indiana
University in 1996.
ABN AMRO Funds
Small Cap Value Fund
Supplement dated March 8, 1999 to the
Prospectus - Investor Share Class
dated June 30, 1998
This supplement provides new and additional information beyond that contained
in the prospectus. It should be retained and read in conjunction with the
prospectus.
Effective March 15, 1999, the subscript "(US)" will be added to the
Fund's name, after the word "Fund" as follows: Small Cap Value Fund(US).
Effective May 10, 1999, the following will supplement information found in
the "Your Account and Doing Business with Us - How to Purchase, Redeem and
Exchange Shares" beginning on page 5:
Exchanges by Timing Accounts. In the case of market timing or allocation
services ("Timing Accounts"), the Distributor will deduct an administrative
service fee of $5.00 per exchange. Timing Accounts generally include
accounts administered so as to redeem or purchase Shares based upon certain
predetermined market indicators.
The Fund reserves the right to temporarily or permanently terminate the
exchange privilege or reject any specific purchase order for any Timing
Account or any person whose transactions seem to follow a timing pattern who:
(i) makes an exchange request out of the Fund within two weeks of an earlier
exchange request out of the Fund; (ii) makes more than two exchanges out of
the Fund per calendar quarters; or (iii) exchanges Shares equal in value to
at least $5 million, or more than 1% of the Fund's net assets. Accounts
under common ownership or control including accounts administered so as to
redeem to purchase Shares based upon certain predetermined market indicators
will be aggregated for purposes of the exchange limits.
In addition, the Fund reserves the right to refuse the purchase and/or
exchange requests by any Timing Account, person, or groups if, in the
Advisor's judgment the Fund would be unable to invest effectively in
accordance with its investment objectives and policies or would otherwise
potentially be adversely affected. A Shareholder's exchange into the Fund
may be restricted or refused if the Fund receives or anticipates simultaneous
orders affecting significant portions of the Fund's assets, in particular, a
pattern of exchanges that coincides with a market timing strategy may be
disruptive to the Fund and therefore may be refused. The Advisor of the Fund
and the Distributor reserve the right to refuse any order for the purchase of
Shares.
The following information replaces paragraph 6 of "The Advisor" section
beginning on page 12:
Kurt S. Moeller, Vice President of the Advisor, serves as co-manager
of the Fund. Previously, he was a fundamental equity analyst at
Grantham, Mayo, Van Otterloo & Co. from 1996 through 1998. Mr.
Moeller was a research assistant for the Indiana University Foundation
from 1995 through 1996. He earned an M.B.A. in Finance from Indiana
University in 1996.
ABN AMRO Funds
Small Cap Value Fund
Supplement dated March 8, 1999 to the
Statement of Additional Information
dated June 30, 1998
This supplement provides new and additional information beyond that contained
in the Statement of Additional Information. It should be retained and read
in conjunction with the Statement of Additional Information.
Effective March 15, 1999, the subscript "(US)" will be added to the
Fund's name, after the word "Fund" as follows: Small Cap Value Fund(US).
