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THE OFFITBANK INVESTMENT FUND, INC.
(THE "COMPANY")
Supplement dated April 17, 1998 to the
Prospectus dated April 17, 1998
Certain of the existing service arrangements for the Company's
investment portfolios will change in the next few months, as described below:
ADMINISTRATOR, TRANSFER AND DIVIDEND DISBURSING AGENT AND FUND ACCOUNTING AGENT.
1. Effective May 25, 1998, PFPC Inc. ("PFPC"), 400 Bellevue Parkway,
Wilmington, Delaware 19809 will begin to provide transfer agency and dividend
disbursing services to the Company pursuant to the terms of a Transfer Agency
Services Agreement between the Company and PFPC dated as of February 27,
1998. Additionally, on or about June 1, 1998, PFPC will begin to provide
administration and fund accounting services to the Company pursuant to the
terms of an Administration and Fund Acounting Services Agreement dated as of
February 27, 1998.
Until May 25, 1998:
a. BISYS Fund Services, Inc. ("BFSI"), an affiliate of BISYS Fund
Services Limited Partnership ("BISYS") whose principal offices are
located at 3435 Stelzer Road, Columbus, OH 43219, shall continue to
provide transfer agency and dividend disbursing services to the
Company pursuant to the terms of a Transfer Agency Services Agreement
between the Company and BFSI dated October 1, 1996. As compensation
for its transfer agency and dividend disbursing services, BFSI is
entitled to receive a fee of $15 per account per year.
Until on or about June 1, 1998:
a. BISYS shall continue to serve as administrator to the Company
pursuant to the terms of an Administration Agreement dated October 1,
1996 and generally assist in all aspects of the Company's
administration and operation. As compensation for its administrative
services, BISYS receives a monthly fee of up to .15% on an annualized
basis of the aggregate average daily net assets of each investment
portfolio of the Company (each a "Fund" and, collectively, the
"Funds") .
b. BFSI shall continue to provide fund accounting services to the
Company pursuant to the terms of a Fund Accounting Agreement between
the Company and BFSI dated October 1, 1996. As compensation for its
fund accounting services, BFSI is entitled to receive an annual fund
accounting fee of $30,000 per Fund.
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DISTRIBUTOR
1. OFFIT Funds Distributor, Inc. (the "Distributor") serves as the
Company's distributor. Until June 1, 1998, the Distributor will be a
wholly-owned subsidiary of BISYS and the Distributor's principal offices will
be located at 3435 Stelzer Road, Columbus, OH 43219.
ADDRESS OF THE COMPANY AND PURCHASE AND REDEMPTION INFORMATION
1. Until May 25, 1998:
a. The address of the Company is 3435 Stelzer Road, Columbus, Ohio
43219.
b. Initial purchases of Select Shares of each Fund may be made by
sending a completed Account Application, along with a check made
payable to The OFFITBANK Investment Fund, Inc., to the Company at: The
OFFITBANK Investment Fund, Inc., P.O. Box 182493, Columbus, Ohio
43218-2493. Subsequent purchases of Select Shares may also be made by
mailing a check made payable to the Company to this address.
Purchases of initial or subsequent Select Shares of the Funds may also
be made by wiring the appropriate federal funds to:
Huntington National Bank
41 South High Street
Columbus, Ohio
ABA #044000024
Account #01899607163
F/B/O The OFFITBANK Investment Fund, Inc.
Ref. (Fund Name and Account Number)
c. The address to which a person may write to the Company to: 1)
transfer the registration of Company shares; 2) submit exchange
requests; or 3) submit redemption requests for Select Shares of the
Funds in "good order" is:
The OFFITBANK Investment Fund, Inc.
P.O. Box 182493
Columbus, Ohio 43218-2493
<PAGE>
THE OFFITBANK INVESTMENT FUND, INC.
(THE "COMPANY")
Supplement dated April 17, 1998 to the
Statement of Additional Information dated April 17, 1998
Certain of the existing service arrangements for the Company's
investment portfolios will change in the next few months, as described below:
ADMINISTRATOR, TRANSFER AND DIVIDEND DISBURSING AGENT AND FUND ACCOUNTING AGENT.
1. Effective May 25, 1998, PFPC Inc. ("PFPC"), 400 Bellevue Parkway,
Wilmington, Delaware 19809 will begin to provide transfer agency and dividend
disbursing services to the Company pursuant to the terms of a Transfer Agency
Services Agreement between the Company and PFPC dated as of February 27, 1998.
Additionally, on or about June 1, 1998, PFPC will begin to provide
administration and fund accounting services to the Company pursuant to the
terms of an Administration and Fund Acounting Services Agreement dated as of
February 27, 1998.
Until May 25, 1998:
a. BISYS Fund Services, Inc. ("BFSI"), an affiliate of BISYS Fund
Services Limited Partnership ("BISYS") whose principal offices are
located at 3435 Stelzer Road, Columbus, OH 43219, shall continue to
provide transfer agency and dividend disbursing services to the
Company pursuant to the terms of a Transfer Agency Services Agreement
between the Company and BFSI dated October 1, 1996. As compensation
for its transfer agency and dividend disbursing services, BFSI is
entitled to receive a fee of $15 per account per year.
Until on or about June 1, 1998:
a. BISYS shall continue to serve as administrator to the Company
pursuant to the terms of an Administration Agreement dated October 1,
1996 and generally assist in all aspects of the Company's
administration and operation. As compensation for its administrative
services, BISYS receives a monthly fee of up to .15% on an annualized
basis of the aggregate average daily net assets of each investment
portfolio of the Company (each a "Fund" and, collectively, the
"Funds").
b. BFSI shall continue to provide fund accounting services to the
Company pursuant to the terms of a Fund Accounting Agreement between
the Company and BFSI dated October 1, 1996. As compensation for its
fund accounting services, BFSI is entitled to receive an annual fund
accounting fee of $30,000 per Fund.
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DISTRIBUTOR
1. OFFIT Funds Distributor, Inc. (the "Distributor") serves as the Company's
distributor. Until June 1, 1998, the Distributor will be a wholly-owned
subsidiary of BISYS and the Distributor's principal offices will be located at
3435 Stelzer Road, Columbus, OH 43219.
ADDRESS OF THE COMPANY
1. Until May 25, 1998, the address of the Company is 3435 Stelzer Road,
Columbus, Ohio 43219.
