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THE PARKSTONE ADVANTAGE FUND
Supplement dated December 28, 1998 to
Prospectus dated September 18, 1998
THIS SUPPLEMENT PROVIDES NEW AND ADDITIONAL INFORMATION BEYOND THAT CONTAINED IN
THE PROSPECTUS AND SHOULD BE RETAINED AND READ IN CONJUNCTION WITH THE
PROSPECTUS.
1. Change in Adviser. Effective December 1, 1998, Gulfstream Global Investors,
Ltd. is no longer serving as sub-investment adviser to the Parkstone
International Discovery Fund. National City Investment Management Company
will manage this Fund under the terms of the existing investment advisory
agreement.
2. Change in Investment Policies to the International Discovery Fund. At a
meeting on November 19, 1998, the Board of Trustees of the Parkstone
Advantage Fund approved a change in investment policy for the Parkstone
Advantage International Discovery Fund (the "Fund"). The Fund will seek to
achieve its investment objective by investing, under normal market
conditions, at least 80% of its total assets in equity securities of foreign
issuers. The Fund's assets normally will be invested in the securities of
issuers located in at least three foreign countries. Foreign investments
also may include debt obligations issued or guaranteed by foreign
governments or their agencies, authorities, instrumentalities or political
subdivisions, including a foreign state, province or municipality. The Fund
does not presently intend to invest in common stock of domestic companies.
The Fund will invest primarily in equity securities, including common and
preferred stocks, rights, warrants, securities convertible into common stocks
and American Depository Receipts ("ADRs") of companies included in the Morgan
Stanley Capital International Europe, Australia, Far East ("EAFE") Index, a
broadly diversified international index consisting of more than 1,000 equity
securities of companies located in Australia, Austria, Belgium, Denmark,
Finland, France, Germany, Hong Kong, Ireland, Italy, Japan, Malaysia, the
Netherlands, New Zealand, Norway, Singapore, Spain, Sweden, Switzerland, and
the United Kingdom. The Fund, however, will not be an "index" fund, and is
neither sponsored by nor affiliated with Morgan Stanley Capital
International. The Fund will not presently make investments in markets where,
in the judgement of the adviser, property rights are not defined and
supported by adequate legal infrastructure. More than 25% of the Fund's
assets may be invested in the securities of issuers located in the same
country.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.
PK-SUPP3
