GINNIE MAE FUND
SHORT-INTERMEDIATE U.S. GOVERNMENT INCOME FUND
Supplement dated November 25, 1996
to Prospectus dated September 6, 1996
The following three paragraphs replace the third and fifth paragraphs under the
prospectus section "Management":
Ms. Tamyra Thomas assumed responsibility as a co-portfolio manager for the
day-to-day management of the portfolio of the Ginnie Mae Fund and the
Intermediate Bond Fund as of July 16, 1996 and September 6, 1996, respectively.
Ms. Thomas is a Senior Vice-President and the Chief Fixed Income Investment
Officer of the Investment Management Group of Wells Fargo Bank. Ms. Thomas has
managed bond portfolios for over a decade. She currently manages in excess of $1
billion of long-term taxable bond portfolios for various foundations, defined
benefit plans and other clients. Prior to joining Wells Fargo Bank in 1988, she
held a number of senior investment positions for the Valley Bank & Trust Company
of Utah including Vice President and Manager of the Investment Department and
Chairman of the Trust Investment Committee. She holds a B.S. from the University
of Utah and was past president of the Utah Bond Club. Ms. Thomas is a chartered
financial analyst.
Mr. Jeff Weaver assumed responsibility as a co-portfolio manager for the
day-to-day management of the portfolio of the Short-Intermediate U.S. Government
Income Fund as of July 16, 1996. Mr. Weaver joined Wells Fargo Bank in February
of 1994, after three years as a short-term fixed income trader and portfolio
manager in the investment management group of Bankers Trust Company in New York.
He holds a B.A. in economics from the University of Colorado and is a chartered
financial analyst candidate.
Ms. Madeline Gish also assumed responsibility as a co-portfolio manager for the
day-to-day management of the portfolio of the Short-Intermediate U.S. Government
Income Fund as of July 16, 1996. Ms. Gish joined Wells Fargo Bank in 1989 as the
portfolio coordinator for the Mutual Funds Division and played an integral part
in the rapid growth of the Overland Express Funds. Since joining the
fixed-income group in 1992, Ms. Gish has assisted in the research and trading
for the adjustable-rate mortgage fund and is currently managing taxable
liquidity portfolios. She holds a bachelor of science degree in business
administration from the University of Kansas and is a chartered financial
analyst candidate.
