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ALLEGHANY FUNDS
Alleghany/Chicago Trust SmallCap Value Fund
Alleghany/Veredus Aggressive Growth Fund
Supplement dated November 6, 1998
to Prospectus dated November 6, 1998
It is anticipated that the Alleghany/Veredus Aggressive Growth Fund will
commence operations on or about December 7, 1998. Until such time
Alleghany/Veredus Aggressive Growth Fund shares will not be offered to
investors.
INVESTORS SHOULD RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUS FOR FUTURE REFERENCE.
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