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THE CARDINAL FUND
CARDINAL BALANCED FUND
CARDINAL AGGRESSIVE GROWTH FUND
SUPPLEMENT DATED OCTOBER 30, 1996 TO
PROSPECTUS DATED MAY 1, 1996
Capitalized terms used in this Supplement have the meanings assigned to
them in the Prospectus.
The third paragraph under the heading "WHO MANAGES MY INVESTMENT IN THE
FUNDS? -- Investment Adviser and Manager" on pages 24 and 25 of the Prospectus
is amended by deleting the current third paragraph in its entirety and
substituting in place thereof the following paragraph:
In its capacity as investment adviser, and subject to the
ultimate authority of the Group's Board of Trustees, the Adviser, in
accordance with the Funds' investment objectives and policies, manages
each Fund, and makes decisions with respect to and places orders for
all purchases and sales of its portfolio securities. Since the
Reorganization with respect to The Cardinal Fund and since December
22, 1995, with respect to TCFI, The Cardinal Fund's predecessor, John
Bevilacqua has been primarily responsible for the day-to-day
management of the portfolio of such Funds. Mr. Bevilacqua has been a
Vice President and Portfolio Manager of The Ohio Company since
October, 1994. Prior thereto, and since February, 1984, Mr. Bevilacqua
served as Second Vice President -- Investment of Midland Mutual Life
Insurance Company, Columbus, Ohio. Since October 1, 1996, David C.
Will has been primarily responsible for the day-to-day management of
fixed income portion of the Balanced Fund's portfolio. Mr. Will has
been a Vice President of the Adviser and The Ohio Company since 1990
and has more than 25 years of investment management experience. Since
such date, Joseph A. Miner has been primarily responsible for the
day-to-day management of the equity portion of the Balanced Fund's
portfolio. Mr. Miner has been a Vice President and Senior Portfolio
Manager of the Adviser and/or The Ohio Company since August, 1995.
Prior thereto and since 1992, Mr. Miner was a Vice President and
Portfolio Manager with Key Trust Company of Ohio. From 1987 to 1992,
Mr. Miner was an investment strategist and an Assistant Vice President
of Citizens Fidelity Capital Management Company, Louisville, Kentucky.
Since August 12, 1996, Mr. Harold C. Elliott has been primarily
responsible for the day-to-day management of the Aggressive Growth
Fund's portfolio. Mr. Elliott has been a Vice President and Chief
Investment Officer of The Ohio Company since March 1996. Prior
thereto, from May, 1993 to March 1996, Mr. Elliott was Vice President
and Chief Investment Officer of The Bank of Tokyo Trust Company (New
York City), a wholly-owned subsidiary of The Bank of Tokyo Limited,
Tokyo, Japan. Prior thereto, from December, 1984 to May, 1993, Mr.
Elliott was employed by First Fidelity Bank, Philadelphia,
Pennsylvania.
This Supplement supersedes in its entirety the Supplement dated August 12,
1996.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH
THE PROSPECTUS FOR FUTURE REFERENCE
