NORTHSTAR FUNDS
Prospectus Supplement dated July 1, 1999
to Prospectus dated March 1, 1999
The Underwriter is sponsoring an incentive program for registered
representatives of PrimeVest Financial Services, Inc. and Washington Square
Securities, Inc. through December 31, 1999 in connection with the sale by its
members of shares of the Northstar Mid-Cap Growth Fund. The Underwriter has
agreed to provide such registered representatives with an additional 0.15% in
sales commissions with respect to sales of all classes of the Northstar Mid-Cap
Growth Fund that exceed $50,000.
--------------------
The disclosure on pages 22, 24 and 26 of the Northstar Funds Prospectus is
hereby amended to reflect that:
Effective July 1, 1999, the sole portfolio manager for the Northstar High Total
Return Fund II and Northstar High Total Return Fund will be Jeffrey Aurigemma.
Mr. Aurigemma is also Portfolio Manager of the Northstar High Yield Fund,
Northstar Balance Sheet Opportunities Fund and Northstar Galaxy Trust High Yield
Bond Portfolio. Mr. Aurigemma has been with Northstar since October 1993. His
biography appears on page 26 of the prospectus. Mr. Dial's biography, which also
appears on page 26, is hereby deleted.
- ----------
This Supplement supercedes all preceding Supplements.
<PAGE>
NORTHSTAR HIGH YIELD INVESTMENTS
Prospectus Supplement dated July 1, 1999
to Prospectus dated March 1, 1999
The disclosure on pages 4 and 6 of the Northstar High Yield Investments
Prospectus is hereby amended to reflect that:
Effective July 1, 1999, the Northstar High Total Return Fund II's sole portfolio
manager will be Jeffrey Aurigemma. Mr. Aurigemma is also Portfolio Manager of
the Northstar High Total Return Fund, Northstar High Yield Fund, Northstar
Balance Sheet Opportunities Fund and Northstar Galaxy Trust High Yield Bond
Portfolio. Mr. Aurigemma has been with Northstar since October 1993. His
biography appears on page 6 of the prospectus. Mr. Dial's biography, which also
appears on page 6, is hereby deleted.
- ----------
This Supplement supercedes all preceding Supplements.
