<PAGE>
MARQUIS FUNDS(R)
Treasury Securities Money Market Fund
Trust Class Shares
Supplement dated May 14, 1996 to the Prospectus dated January 29, 1996
This Supplement provides new and additional information beyond that
contained in the Prospectus and should be retained and read in conjunction with
such Prospectus.
The third paragraph of the "Investment Objectives and Policies" section of
the Prospectus is hereby supplemented to read:
The Board of Trustees has adopted a policy that the Fund will purchase
securities on a when-issued or delayed delivery basis only when
settlement takes place within 15 business days of the purchase of such
securities.
At a Board of Trustees Meeting held on May 13, 1996, the Trustees of the
Marquis Funds(R) (the "Trust") approved a reduction in the fee paid to the
Administrator from .20% to .15%. The section entitled "Administrator" is
replaced with the following:
The Trustees have approved an assignment of the Trust's Administration
Agreement with SEI Financial Management Corporation ("SFM") to SEI
Fund Resources (the "Administrator"). The Administrator is a wholly-
owned subsidiary of SFM. This assignment will not impact any of the
administrative services provided to the Trust. The Administrator
provides the Trust with administrative services, including all
regulatory reporting, necessary office space, equipment, personnel,
and facilities.
The Administrator is entitled to a fee, which is calculated daily and
paid monthly, at an annual rate of .15% of the average daily net
assets of the Funds.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
MARQUIS FUNDS(R)
Treasury Securities Money Market Fund
Retail Class Shares
Supplement dated May 14, 1996 to the Prospectus dated January 29, 1996
This Supplement provides new and additional information beyond that
contained in the Prospectus and should be retained and read in conjunction with
such Prospectus.
The third paragraph of the "Investment Objectives and Policies" section of
the Prospectus is hereby supplemented to read:
The Board of Trustees has adopted a policy that the Fund will purchase
securities on a when-issued or delayed delivery basis only when
settlement takes place within 15 business days of the purchase of such
securities.
At a Board of Trustees Meeting held on May 13, 1996, the Trustees of the
Marquis Funds(R) (the "Trust") approved a reduction in the fee paid to the
Administrator from .20% to .15%. The section entitled "Administrator" is
replaced with the following:
The Trustees have approved an assignment of the Trust's Administration
Agreement with SEI Financial Management Corporation ("SFM") to SEI
Fund Resources (the "Administrator"). The Administrator is a wholly-
owned subsidiary of SFM. This assignment will not impact any of the
administrative services provided to the Trust. The Administrator
provides the Trust with administrative services, including all
regulatory reporting, necessary office space, equipment, personnel,
and facilities.
The Administrator is entitled to a fee, which is calculated daily and
paid monthly, at an annual rate of .15% of the average daily net
assets of the Funds.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
MARQUIS FUNDS(R)
Treasury Securities Money Market Fund
Cash Sweep Class Shares
Supplement dated May 14, 1996 to the Prospectus dated January 29, 1996
This Supplement provides new and additional information beyond that
contained in the Prospectus and should be retained and read in conjunction with
such Prospectus.
The third paragraph of the "Investment Objectives and Policies" section of
the Prospectus is hereby supplemented to read:
The Board of Trustees has adopted a policy that the Fund will purchase
securities on a when-issued or delayed delivery basis only when
settlement takes place within 15 business days of the purchase of such
securities.
At a Board of Trustees Meeting held on May 13, 1996, the Trustees of the
Marquis Funds(R) (the "Trust") approved a reduction in the fee paid to the
Administrator from .20% to .15%. The section entitled "Administrator" is
replaced with the following:
The Trustees have approved an assignment of the Trust's Administration
Agreement with SEI Financial Management Corporation ("SFM") to SEI
Fund Resources (the "Administrator"). The Administrator is a wholly-
owned subsidiary of SFM. This assignment will not impact any of the
administrative services provided to the Trust. The Administrator
provides the Trust with administrative services, including all
regulatory reporting, necessary office space, equipment, personnel,
and facilities.
The Administrator is entitled to a fee, which is calculated daily and
paid monthly, at an annual rate of .15% of the average daily net
assets of the Funds.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
MARQUIS FUNDS(R)
Institutional Money Market Fund
Supplement dated May 14, 1996 to the Prospectus dated January 29, 1996
This Supplement provides new and additional information beyond that
contained in the Prospectus and should be retained and read in conjunction with
such Prospectus.
The third paragraph of the "Investment Objectives and Policies" section of
the Prospectus is hereby supplemented to read:
The Board of Trustees has adopted a policy that the Fund will purchase
securities on a when-issued or delayed delivery basis only when
settlement takes place within 15 business days of the purchase of such
securities.
The section entitled "Administrator" is supplemented to read:
The Trustees have approved an assignment of the Trust's Administration
Agreement with SEI Financial Management Corporation ("SFM") to SEI
Fund Resources (the "Administrator"). The Administrator is a wholly-
owned subsidiary of SFM. This assignment will not impact any of the
administrative services provided to the Trust.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
MARQUIS FUNDS(R)
Tax Exempt Money Market Fund
Supplement dated May 14, 1996 to the Prospectus dated January 29, 1996
This Supplement provides new and additional information beyond that
contained in the Prospectus and should be retained and read in conjunction with
such Prospectus.
At a Board of Trustees Meeting held on May 13, 1996, the Trustees of the
Marquis Funds(R) (the "Trust") approved a reduction in the fee paid to the
Administrator from .20% to .15%. The section entitled "Administrator" is
replaced with the following:
The Trustees have approved an assignment of the Trust's Administration
Agreement with SEI Financial Management Corporation ("SFM") to SEI
Fund Resources (the "Administrator"). The Administrator is a wholly-
owned subsidiary of SFM. This assignment will not impact any of the
administrative services provided to the Trust. The Administrator
provides the Trust with administrative services, including all
regulatory reporting, necessary office space, equipment, personnel,
and facilities.
The Administrator is entitled to a fee, which is calculated daily and
paid monthly, at an annual rate of .15% of the average daily net
assets of the Funds.
At a Board of Trustees Meeting held on May 13, 1996, the Trustees of the
Trust approved a new sub-advisory agreement between the Trust, with respect to
the Fund, and Weiss, Peck & Greer, L.L.C. The section entitled "The Adviser" is
supplemented to read:
Weiss, Peck & Greer, L.L.C. ("WPG") serves as the Portfolio's
investment sub-adviser under a sub-advisory agreement (the "Sub-
Advisory Agreement") with First National Bank of Commerce in New
Orleans. Under the Sub-Advisory Agreement, WPG invests the assets of
the Fund on a daily basis, and continuously administers the investment
program of the Fund.
<PAGE>
WPG is a limited liability company founded as a limited partnership in
1970, and engages in investment management, venture capital management
and management buyouts. Since its founding, WPG has been active in
managing portfolios of tax exempt securities. Currently, WPG manages
over $12 billion in assets, $2 billion of which is invested in tax
exempt money market funds. The principal business address of WPG is
One New York Plaza, New York, N.Y. 10004.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
<PAGE>
MARQUIS FUNDS(R)
Balanced Fund
Government Securities Fund
Growth Equity Fund
Louisiana Tax-Free Income Fund
Value Equity Fund
Supplement dated May 14, 1996 to the Prospectus dated January 29, 1996
This Supplement provides new and additional information beyond that
contained in the Prospectus and should be retained and read in conjunction with
such Prospectus.
At a Board of Trustees Meeting held on May 13, 1996, the Trustees of the
Marquis Funds(R) (the "Trust") approved a reduction in the fee paid to the
Administrator from .20% to .15%. The section entitled "Administrator" is
replaced with the following:
The Trustees have approved an assignment of the Trust's Administration
Agreement with SEI Financial Management Corporation ("SFM") to SEI
Fund Resources (the "Administrator"). The Administrator is a wholly-
owned subsidiary of SFM. This assignment will not impact any of the
administrative services provided to the Trust. The Administrator
provides the Trust with administrative services, including all
regulatory reporting, necessary office space, equipment, personnel,
and facilities.
The Administrator is entitled to a fee, which is calculated daily and
paid monthly, at an annual rate of .15% of the average daily net
assets of the Funds.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
