TIP INSTITUTIONAL FUNDS
(formerly, The Solon Funds)
Solon Short Duration Government Funds-One Year Portfolio
Solon Short Duration Government Funds-Three Year Portfolio
Supplement dated December 5, 1997
to the Prospectus dated July 1, 1997
This supplement contains new and additional information beyond that contained in
the Prospectus, and should be retained and read in conjunction with such
Prospectus.
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On November 10, 1997, the Board of Trustees of The Solon Funds (the "Trust") met
and considered a number of structural changes to the Trust stemming from the
sale of the Trust's investment adviser, Solon Asset Management, L.P., to Turner
Investment Partners, Inc. ("Turner"). In connection with these changes, the
Board of Trustees unanimously approved the changing of the name of the Trust to
"TIP Institutional Funds." In addition, the Trustees, including the Trustees who
are not interested persons, unanimously approved the selection of Turner as
investment adviser to the Trust, effective upon approval of the Trust's
Shareholders. James Midanek, the portfolio manager for the Trust, will become an
employee of Turner and continue to serve as portfolio manager (assuming that
Turner is approved as investment adviser).
The Trustees also unanimously nominated four nominees for election as members of
the Trust's Board of Trustees (the "Board"). Each of the three current members
of the Board (except Deborah Hicks Midanek, who resigned from the Board
effective November 14, 1997) is named as a nominee, as are two additional
nominees. The Board has called a Special Meeting of Shareholders (the "Meeting")
of the Trust for December 29, 1997, at which the Shareholders will be asked to
approve the election of each of the nominees and to approve the selection of
Turner as investment adviser. In connection with this transaction, there are a
number of other proposed changes to the service providers for the Trust.
A proxy statement describing the background and qualifications of each nominee,
as well as a description of Turner and of the other changes to be made to the
Trust's service providers, will be delivered to Shareholders of record as of
November 21, 1997, in December.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
