[The following supplement replaces in its entirety the supplement
dated February 3, 1997, previously filed.]
BERGER 100 FUND
BERGER GROWTH AND INCOME FUND
BERGER SMALL COMPANY GROWTH FUND
BERGER NEW GENERATION FUND
SUPPLEMENT DATED FEBRUARY 18, 1997
TO PROSPECTUS DATED NOVEMBER 28, 1996
Effective February 3, 1997, Patrick S. Adams has been
appointed portfolio manager of the Berger 100 Fund and co-manager,
along with Berger Associates Senior Analyst Mark R. McKinney, of the
Berger Growth and Income Fund. Mr. Adams and Mr. McKinney assumed
responsibility for the day-to-day investment management of those
Funds, succeeding Rodney L. Linafelter. Mr. Adams and Mr. McKinney
have also been appointed as officers of their respective Funds.
William R. Keithler continues as President and portfolio manager for
the Berger Small Company Growth Fund and the Berger New Generation
Fund.
Accordingly, page 18 of the Prospectus is amended to read as
follows: the third and fourth paragraphs under "6. Management and
Investment Advice" are deleted in their entirety and replaced with the
following:
"Patrick S. Adams, Senior Vice President of Berger
Associates, is the portfolio manager for the Berger 100 Fund. Mr.
Adams also co-manages the Berger Growth and Income Fund, along with
Berger Associates Senior Analyst Mark R. McKinney. The portfolio
managers are responsible for the investments of their Funds, including
the day-to-day investment decisions for these Funds. Mr. Adams is
also Executive Vice President of the Berger 100 Fund and the Berger
Growth and Income Fund, and Mr. McKinney is Vice President of the
Berger Growth and Income Fund."
"Mr. Adams joined Berger Associates in February 1997, where
he serves as portfolio manager for the Berger 100 Fund, co-manager for
the Berger Growth and Income Fund, and portfolio manager for
retirement plans and institutional and private investors. Mr. Adams
previously served as Senior Vice President with Zurich Kemper
Investments, Inc., from June 1996 to January 1997, where he was
portfolio manager of the Kemper Growth Fund. Mr. Adams served as
Portfolio Manager with Founders Asset Management, Inc., from March
1993 to May 1996, where he managed the Founders Blue Chip Growth Fund
and the Founders Balanced Fund. Prior to that, Mr. Adams served in
various positions with First of America Investment Corp. for over
three years, including as Senior Portfolio Manager/Senior Analyst from
January 1992 to February 1993, during which time he managed the
Parkstone Equity Fund."
"Mr. McKinney joined Berger Associates in January 1996,
where he serves as Senior Analyst and co-portfolio manager, along with
Patrick Adams, for the Berger Growth and Income Fund. Mr. McKinney
previously served as Analyst/Portfolio Manager with Farmers Insurance
Co. from April 1992 to January 1996."
