LINDNER INVESTMENTS
SUPPLEMENT, dated November 20, 2000, to Prospectus, dated October 6, 2000:
Effective November 20, 2000, Lindner Asset Management, Inc., the Adviser to
Lindner Investments, has employed three new individuals to serve as co-
managers of the Lindner Large-Cap Fund and two new individuals to serve as
co-managers of the Lindner Small-Cap Fund. Accordingly, the information
appearing on pages 29 and 30 of the Prospectus, dated October 6, 2000,
under the caption "Management of the Trust" is amended to read as follows:
Lindner Management has appointed the following portfolio co-managers
for each of the Lindner Funds:
Lindner Asset Allocation Fund:
-- Mark T. Finn, Jeffrey D. Fotta and Jonathan Finn, co-managers of
the equity portion;
-- Gerald H. Barnes, manager of the fixed-income portion.
Lindner Utility Fund:
-- Gerald H. Barnes, Mark T. Finn and Thomas F. Lynch, co-managers.
Lindner Large Cap Fund:
-- Jerome A. Castellini, Edward A. Clark and Robert S. Takazawa, Jr.,
co-managers.
Lindner Small Cap Fund:
-- Roger H. Stamper and Stephen J. Wisneski, co-managers.
Lindner Opportunities Fund:
-- Mark T. Finn and Jonathan F. Finn, co-managers.
Lindner Market Neutral Fund:
-- Jeffrey D. Fotta and Thomas F. Lynch, co-managers.
Mark T. Finn, has been Vice Chairman and Chief Operating Officer of
Lindner Asset Management since April 1999 and also serves as Chief
Investment Officer of the Adviser. Mr. Finn received an MBA degree from the
College of William and Mary in 1987. Mr. Finn also serves as the Chairman
of Vantage Consulting Group, Inc., an investment counseling firm and a
registered investment adviser and is Trustee of CitiFunds, a family of
mutual funds sponsored by Citibank, NA. Mr. Finn has been the co-manager of
the Asset Allocation Fund and the Utilities Fund since April 2000, and was
the manager of the Opportunities Fund from its inception in October 1999
until April 2000, when Jonathan Finn joined him as a co-manager. Mr. Finn
also served as co-manager of the Large-Cap and Small-Cap Funds from April
2000 until November 2000.
Jeffrey D. Fotta, CFA, received a BA in Economics and Philosophy in
1985 and an MBA in Finance in 1992 from Boston College. He has been employed
by the Adviser since April 1999 and is a member of the Boston Security
Analysts Society, the Association of Investment Management and Research, and
the International Association of Financial Engineers. Mr. Fotta has over
fifteen years of experience in fundamental analysis of equity securities and
is founder and Managing Partner of Ernst Research and Management, LLC, where
he has focused on quantifying and developing the Dual Cash Flow model for
use in the security selection process. Mr. Fotta earned the Chartered
Financial Analyst designation in 1996. Mr. Fotta has been co-manager of the
Market Neutral Fund and of the equity portion of the Asset Allocation Fund
since April 2000; he also served as co-manager of the Large-Cap Fund from
April 2000 until November 2000.
Jonathan F. Finn, CFA, is the son of Mark Finn. He graduated from
the University of Virginia in 1995 with a BA in Economics. Since 1995, Jon
Finn has been employed by Vantage Consulting Group, Inc., in various roles
of increasing responsibility ranging from Manager of Information Technology
to Quantitative Research Analyst. In 1999, he earned his Chartered
Financial Analyst designation. Mr. Finn has been co-manager of the
Opportunities Fund since April 2000 and co-manager of the equity portion of
the Asset Allocation Fund since November 2000; he also served as co-manager
of the Small-Cap Fund from April 2000 until November 2000.
Gerald H. Barnes, CFA, earned a BS in Commerce in 1969 from the
University of Virginia and an MBA degree in 1995 from Old Dominion
University. He began his investment career in 1971 as a research analyst in
the Trust Division of Virginia National Bank, where he was employed until
1984 and attained the position of Senior Vice President and manager of the
Bank's Employee Benefit Equity Funds. During most of his tenure with the
Bank, Mr. Barnes maintained analytical responsibility for electric utilities
and telecommunications equities. Mr. Barnes was employed by Delta
Financial, Inc., an investment management firm located in Virginia Beach,
Virginia, from 1984 until 1991, where he held positions in investment
research and portfolio management. Since 1991, he has been employed as the
President of Vantage Consulting Group, Inc. Mr. Barnes earned the Chartered
Financial Analyst designation in 1977. Mr. Barnes has served as manager of
the fixed income portion of the Asset Allocation Fund and as co-manager of
the Utility Fund since April 2000.
Thomas Lynch received a BS degree in Computer Science and
Mathematics in 1986 from Boston College. Mr. Lynch has over twenty years of
experience in macro and micro-economic modeling, and computer programming.
For the past eight years, he has been developing research based on
quantitative analysis, as well as developing several portfolio trading
strategies and products. Mr. Lynch has extensive experience with the
selection and optimization of equity positions for market neutral and long
strategies. Mr. Lynch's previous experience includes managing and trading a
hedge fund portfolio, as well as creating auditing tools used to analyze
growth, profitability, and liquidity. Mr. Lynch has served as co-manager of
the Utility Fund and the Market Neutral Fund since April 2000.
Jerome A. Castellini received a BA degree in Economics in 1979 from
the University of Notre Dame and an MBA in 1982 from the University of
Chicago. Since January 1999, Mr. Castellini has been a principal owner and
a manager of CastleArk Management, LLC, a registered investment advisory
firm in Chicago, Illinois, that primarily manages equities and energy
partnership portfolios for institutional and high net worth individuals. At
CastleArk Management, Mr. Castellini has been primarily involved in the
management of equity portfolios. From June 1989 until January 1999, Mr.
Castellini was a director and a portfolio manager of mutual funds for the
investment management firm of Loomis, Sayles & Co., L.P., with principal
responsibilities for the management of that firm's large-cap and mid-cap
growth products. Mr. Castellini has served as co-manager of the Large-Cap
Fund since November 2000.
Edward A. Clark earned a BA degree in Economics in 1980 from
Northwestern University and an MBA in Finance in 1984 from DePaul
University. Since January 1999, Mr. Clark has been an owner and manager of
CastleArk Management, LLC, and has been primarily involved in the management
of investment portfolios. From May 1990 until January 1999, Mr. Clark was a
portfolio manager of mutual funds for the investment management firm of
Loomis, Sayles & Co., L.P., with principal responsibilities for the
management of its investment grade bond products. Mr. Clark has served as
co-manager of the Large-Cap Fund since November 2000.
Robert S. Takazawa, Jr., CFA, earned a BBA in Finance in 1973 from
the University of Notre Dame and an MBA in Finance in 1975 from Northwestern
University. Since August 1999, Mr. Takazawa has been employed as a Vice
President of CastleArk Management, LLC, and has been primarily focused on
large-cap companies. From June 1994 until July 1999, Mr. Takazawa was
employed as a Vice President of Loomis, Sayles & Co., L.P., where he was
responsible for co-managing its large-cap growth product. From June 1974
until May 1994, he was employed as a Senior Vice President of Kemper
Financial Services, Inc., where he was responsible for its institutional
equity products. Mr. Takazawa earned the Chartered Financial Analyst
designation in 1981. Mr. Takazawa has served as co-manager of the Large-Cap
Fund since November 2000.
Roger H. Stamper, CFA, earned a B.S. in Mathematics in 1978 and an
M.B.A. in Finance in 1981 from Western Michigan University. Since November
1999 he has been employed by CastleArk Management, LLC, as a Vice President
and has been primarily involved in the management of equity portfolios.
From May 1998 until October 1999, Mr. Stamper was the President of Spyglass
Asset Management, in Portage, Michigan, a registered investment adviser,
where he was principally involved in the management of investment portfolios
for individual clients. Prior to May 1998, Mr. Stamper was a Managing
Director of First of America Investment Corporation, in Kalamazoo, Michigan,
the investment adviser for the Parkstone Funds, a family of mutual funds,
and in this capacity Mr. Stamper served as a portfolio manager for the
Parkstone Small-Cap Fund. Mr. Stamper earned the Chartered Financial
Analyst designation in 1984. Mr. Stamper has served as co-manager of the
Small-Cap Fund since November 2000.
Stephen J. Wisneski, CFA, earned a B.S. in Civil Engineering in 1974
from Michigan State University and an M.B.A. in Finance in 1984 from the
University of Houston. Since November 1999 he has been employed by
CastleArk Management, LLC, as a Vice President and has been primarily
involved in the management of equity portfolios. From June 1988 until
October 1999, Mr. Wisneski was the Chief Operating Officer of Spyglass Asset
Management, in Portage, Michigan, a registered investment adviser, where he
was principally involved in the management of investment portfolios for
individual clients. Prior to May 1998, Mr. Wisneski was a Vice President
and Senior Portfolio Manager with First of America Investment Corporation,
and he was employed in various capacities including client service, industry
analysis and as a portfolio manager in the mid-cap and large-cap growth
strategies. Mr. Wisneski earned the Chartered Financial Analyst designation
in 1990. Mr. Wisneski has served as co-manager of the Small-Cap Fund since
November 2000.
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