<PAGE> 1
Rule 497(e)
Registration No. 33-65632
SCHRODER SERIES TRUST
PROSPECTUS SUPPLEMENT
TO INVESTOR SHARES PROSPECTUS DATED MARCH 1, 1998
-------------------------
The fifth sentence in the third full paragraph on page 23 of the Prospectus is
amended to read as follows:
Mr. Richard Gotterer, Assistant Vice President and Portfolio Manager at
Schroder, is primarily responsible for making recommendations to the committee
for Schroder Investment Grade Income Fund and Schroder Short-Term Investment
Fund.
March 20, 1998
<PAGE> 2
Rule 497(e)
Registration No. 33-65632
SCHRODER SERIES TRUST
PROSPECTUS SUPPLEMENT
TO ADVISOR SHARES PROSPECTUS DATED MARCH 1, 1998
-------------------------
The penultimate sentence in the carry-over paragraph on the top of page 18 of
the Prospectus is amended to read as follows:
Mr. Richard Gotterer, Assistant Vice President and Portfolio Manager at
Schroder, is primarily responsible for making recommendations to the committee
for Schroder Investment Grade Income Fund.
March 20, 1998
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