THE NORTHSTAR FUNDS
Prospectus Supplement dated December 1, 1998
to Prospectus dated March 1, 1998
The following information replaces the information contained in the section of
the Funds' prospectus entitled "YOUR GUIDE TO BUYING, SELLING AND EXCHANGING
SHARES OF NORTHSTAR FUNDS - FRONT-END SALES CHARGES" beginning on page 31:
Effective December 1, 1998, the program allowing an exemption from the front-end
sales charge for purchases of Class A Shares of the Funds with proceeds from
redemptions of unaffiliated investment companies (the "NAV Transfer Program")
will be discontinued. Please delete all references to the NAV Transfer Program
where they appear in the Funds' prospectuses. Of course, other exemptions from
the sales charge may apply. See the section entitled "WAYS TO REDUCE OR
ELIMINATE SALES CHARGES."
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THIS SUPPLEMENT SUPERSEDES ALL PRECEDING SUPPLEMENTS.
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NORTHSTAR HIGH YIELD INVESTMENTS
Prospectus Supplement dated December 1, 1998
to Prospectus dated March 1, 1998
The following information replaces the information contained in the section of
the Funds' prospectus entitled "YOUR GUIDE TO BUYING, SELLING AND EXCHANGING
SHARES OF NORTHSTAR FUNDS - FRONT-END SALES CHARGES" beginning on page 12:
Effective December 1, 1998, the program allowing an exemption from the front-end
sales charge for purchases of Class A Shares of the Funds with proceeds from
redemptions of unaffiliated investment companies (the "NAV Transfer Program")
will be discontinued. Please delete all references to the NAV Transfer Program
where they appear in the Funds' prospectuses. Of course, other exemptions from
the sales charge may apply. See the section entitled "WAYS TO REDUCE OR
ELIMINATE SALES CHARGES."
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THIS SUPPLEMENT SUPERSEDES ALL PRECEDING SUPPLEMENTS.
<PAGE>
NORTHSTAR INTERNATIONAL INVESTMENTS
Prospectus Supplement dated December 1, 1998
to Prospectus dated March 1, 1998
The following information replaces the information contained in the section of
the Funds' prospectus entitled "YOUR GUIDE TO BUYING, SELLING AND EXCHANGING
SHARES OF NORTHSTAR FUNDS - FRONT-END SALES CHARGES" beginning on page 9:
Effective December 1, 1998, the program allowing an exemption from the front-end
sales charge for purchases of Class A Shares of the Funds with proceeds from
redemptions of unaffiliated investment companies (the "NAV Transfer Program")
will be discontinued. Please delete all references to the NAV Transfer Program
where they appear in the Funds' prospectuses. Of course, other exemptions from
the sales charge may apply. See the section entitled "WAYS TO REDUCE OR
ELIMINATE SALES CHARGES."
-------------------------
THIS SUPPLEMENT SUPERSEDES ALL PRECEDING SUPPLEMENTS.
<PAGE>
NORTHSTAR HIGH TOTAL RETURN FUND
Prospectus Supplement dated December 1, 1998
to Prospectus dated March 1, 1998
The following information replaces the information contained in the section of
the Fund's prospectus entitled "NORTHSTAR HIGH TOTAL RETURN FUND" beginning on
page 3:
Effective December 1, 1998, the Northstar High Total Return Fund (the "Fund") is
again open to new investors. Due to investment considerations, it is presently
intended that the Fund will close to new investors when the total assets of the
Fund reach $1 billion.
It is anticipated that current shareholders with existing accounts of the Fund
will be able to continue to invest in the Fund after it closes.
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The following information replaces the information contained in the section of
the Fund's prospectus entitled "YOUR GUIDE TO BUYING, SELLING AND EXCHANGING
SHARES OF NORTHSTAR FUNDS - FRONT-END SALES CHARGES" beginning on page 6:
Effective December 1, 1998, the program allowing an exemption from the front-end
sales charge for purchases of Class A Shares of the Fund with proceeds from
redemptions of unaffiliated investment companies (the "NAV Transfer Program")
will be discontinued. Please delete all references to the NAV Transfer Program
where they appear in the Fund's prospectus. Of course, other exemptions from
the sales charge may apply. See the section entitled "WAYS TO REDUCE OR
ELIMINATE SALES CHARGES."
-------------------------
THIS SUPPLEMENT SUPERSEDES ALL PRECEDING SUPPLEMENTS.
