ACCOLADE FUNDS
497, 1996-09-03
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           EARN MORE FOR YOUR 403(B) PLAN WITH THE BONNEL GROWTH FUND

The road to retirement can be a little easier...
if you add growth potential to your portfolio.

Your 403(b) account would have grown 
almost 40% in the Bonnel Growth Fund.

[MOUNTAIN GRAPH PLOTTED FROM DATA IN TABLE BELOW]

<TABLE>
                      PERFORMANCE DOES MAKE A DIFFERENCE!

<CAPTION>

                                                                       Bonnel
                                                       Russell 2000  Growth Fund
                                                       ------------  -----------
<S>                                                    <C>           <C>
10/31/94 .........................................        9959.598         10010
11/30/94 .........................................        9557.131         10030
12/30/94 .........................................        9812.975         10090
 1/31/95 .........................................        9689.036      9859.314
 2/28/95 .........................................        10092.39      10491.19
 3/31/95 .........................................        10265.37      10942.54
 4/28/95 .........................................        10493.44      11423.97
 5/31/95 .........................................         10673.9      11594.47
 6/30/95 .........................................         11227.6      12677.69
 7/31/95 .........................................        11874.31      14121.99
 8/31/95 .........................................        12120.05      14252.38
 9/29/95 .........................................        12336.53      14874.23
10/31/95 .........................................        11784.84      14523.18
11/30/95 .........................................        12279.85      14804.02
12/29/95 .........................................        12603.79      14653.02
 1/31/96 .........................................        12590.21      14442.94
 2/29/96 .........................................        12982.65      15031.16
 3/29/96 .........................................        13246.84      15734.93
 4/30/96 .........................................        13955.15      17604.63
 5/31/96 .........................................        14505.12      19085.69
 6/28/96 .........................................        13909.54      17552.11

                                                  Bonnel Growth Fund  $17,552.11
                                                        Russell 2000  $13,909.54
Source:  Micropal
</TABLE>

THE BONNEL GROWTH FUND PROVIDES:

AFFORDABILITY
* No load, no commissions
* No minimum initial investment for 403(b) accounts 

GROWTH OPPORTUNITY
* Exposure to small company  growth stocks gives you the potential to earn more.

Call 1-800-557-2297, ext. 623 for more information.

- ----------
For a free prospectus containing more complete information including charges and
expenses,  call  1-800-US-FUNDS.  Please read the  prospectus  carefully  before
investing.  Like all  mutual  funds,  fund  shares  are not  backed  by the U.S.
Government.  Past  performance  is no  guarantee of future  results.  Investment
return and principal  value will  fluctuate.  You may have a gain or a loss when
you sell shares. Average annual total rate of return for one year (period ending
6/28/96)  is 38.45%  and for the life of the Fund  (10/17/94  through  6/28/96),
39.39%.  The  Bonnel  Growth  Fund  reflects  total  return  with all  dividends
reinvested.  The Russell 2000 is an unmanaged  index of stocks  considered to be
representative of the broad small-cap market. BON378


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