Supplement dated September 26, 1995 to The Pierpont Funds prospectus dated March
31, 1995, as amended June 21, 1995.
Effective September 29, 1995, the required minimum initial investment in each of
The Pierpont Funds, except for the money market funds, is $100,000. The minimum
initial investment in The Pierpont Money Market Fund, The Pierpont Tax Exempt
Money Market Fund and The Pierpont Treasury Money Market Fund remains at
$25,000. For information about purchase minimums or maintenance of a Fund
account, see the amendments to "Purchase of Shares" and "Redemption of Shares"
below.
PURCHASE OF SHARES
METHOD OF PURCHASE.
...Each of The Pierpont Funds requires the following minimum initial investment
and minimum subsequent investment unless otherwise provided below:
Initial Subsequent
Investment Investment
The Pierpont Money Market Fund $25,000 $5,000
The Pierpont Tax Exempt Money Market Fund $25,000 $5,000
The Pierpont Treasury Money Market Fund $25,000 $5,000
The Pierpont Short Term Bond Fund $100,000 $5,000
The Pierpont Bond Fund $100,000 $5,000
The Pierpont Tax Exempt Bond Fund $100,000 $5,000
The Pierpont Equity Fund $100,000 $5,000
The Pierpont Capital Appreciation Fund $100,000 $5,000
The Pierpont International Equity Fund $100,000 $5,000
The Pierpont Emerging Markets Equity Fund $100,000 $5,000
The Pierpont Diversified Fund $100,000 $5,000
For shareholders of a Pierpont Fund, the minimum initial investment in one of
the money market funds is $10,000 and the minimum initial investment in any
other Pierpont Fund is $100,000. For investors who were shareholders of a
Pierpont Fund as of September 29, 1995, the minimum initial investment in any
other Pierpont Fund is $10,000.
These minimum investment requirements may be waived for investors for whom the
Advisor is a fiduciary or who are employees of the Advisor, or who maintain
related accounts with the Funds or the Advisor or maintain investments in the
Funds (other than the money market funds) when such accounts and/or investments
total $500,000 or more.
An employer-sponsored retirement plan opening an account in any Fund, except for
the money market funds, will be required to attain a minimum balance of $250,000
within thirteen months of opening the account. For investors such as investment
advisors, trust companies and financial advisors who make investments for a
group of clients, the minimum investment in any Fund, except the money market
funds, is (i) $100,000 per individual client or (ii) $250,000 for an aggregated
purchase order for more than one client. The minimum subsequent investment in
the same Fund is $5,000.
REDEMPTION OF SHARES
MANDATORY REDEMPTION BY THE FUND. If the value of a shareholder's holdings in
any of the money market funds falls below $10,000 because of a redemption of
shares, the shareholder's remaining shares may be redeemed by the Fund 60 days
after written notice to the shareholder unless the account is increased to
$10,000 or more. If the value of a shareholder's holdings in any of the other
Pierpont Funds falls below the applicable minimum investment amount because of a
redemption of shares, the shareholder's remaining shares may be redeemed by the
Fund 60 days after written notice to the shareholder unless the account is
increased to the minimum investment amount or more. Investors who were
shareholders of a Pierpont Fund as of September 29, 1995 are required to
maintain an investment of $10,000 in each Fund in which they invest.
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Supplement dated September 26, 1995 to the following prospectuses:
The Pierpont Short Term Bond Fund, dated March 1, 1995
The Pierpont Bond Fund, dated March 1, 1995
The Pierpont Tax Exempt Bond Fund, dated January 3, 1995
The Pierpont New York Total Return Bond Fund, dated August 1, 1995
The Pierpont Equity Fund, dated October 1, 1994
The Pierpont Capital Appreciation Fund, dated October 1, 1994
The Pierpont International Equity Fund, dated March 1, 1995 as amended June 21,
1995
The Pierpont Emerging Markets Equity Fund, dated March 1, 1995
The Pierpont Diversified Fund, dated October 1, 1994
Effective September 29, 1995, the required minimum initial investment in each of
The Pierpont Funds listed above is $100,000. For information about purchase
minimums or maintenance of a Fund account, see the following amendments to the
"Purchase of Shares" and "Redemption of Shares" sections of each prospectus.
PURCHASE OF SHARES
METHOD OF PURCHASE.
...The Fund requires a minimum initial investment of $100,000, except that for
investors who were shareholders of another Pierpont Fund as of September 29,
1995, the minimum initial investment in the Fund is $10,000. The minimum
subsequent investment for all investors is $5,000.
These minimum investment requirements may be waived for investors for whom the
Advisor is a fiduciary or who are employees of the Advisor, or who maintain
related accounts with The Pierpont Family of Funds or the Advisor or maintain
investments in The Pierpont Funds (other than the money market funds) when such
accounts and/or investments total $500,000 or more.
An employer-sponsored retirement plan opening an account in the Fund will be
required to attain a minimum balance of $250,000 within thirteen months of
opening the account. For investors such as investment advisors, trust companies
and financial advisors who make investments for a group of clients, the minimum
investment in the Fund is (i) $100,000 per individual client or (ii) $250,000
for an aggregated purchase order for more than one client. The minimum
subsequent investment in the Fund is $5,000.
REDEMPTION OF SHARES
MANDATORY REDEMPTION BY THE FUND. If the value of a shareholder's holdings in
the Fund falls below the applicable minimum initial investment amount because of
a redemption of shares, the shareholder's remaining shares may be redeemed by
the Fund 60 days after written notice to the shareholder unless the account is
increased to the minimum investment amount or more. Investors who were
shareholders of a Pierpont Fund as of September 29, 1995 are required to
maintain an investment of $10,000 in the Fund.
