PAUZE` FUNDS
PAUZE` TOMBSTONE FUND
FORM N-1A
CROSS REFERENCE SHEET
FORM N-1A
PART A CAPTION OR
ITEM NO. LOCATION IN PROSPECTUS
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1 Cover Page
2 Summary of Fees and Expenses
3 NONE
4 The Fund; Investment Objective and Risk Considerations; Investment
Policies and Risks; Management of the Fund; General Information
5 Management of the Fund
5a NONE
6 General Information; How to Redeem Shares; Shareholder Services;
Distributions and Taxes
7 How to Purchase Shares; Additional Information About Purchases;
Reductions and Waivers of the Sales Charge; Other Policies that Affect
your Sales Charge; How to Redeem Shares; Rule 12b-1 Distribution Plan;
Valuing Fund Shares; Supplement to Prospectus
8 How to Redeem Shares
9 NONE
16 Management of the Fund
19 Valuing Fund Shares
<PAGE>
FORM N-1A
PART B CAPTION OR LOCATION IN
ITEM NO. STATEMENT OF ADDITIONAL INFORMATION
- --------- ----------------------------------------------------------------------
10 Cover Page
11 Table of Contents
12 NONE
13 Investment Objective and Policies; Investment Limitations
14 Management of the Fund
15 NONE
16 Investment Advisory Services; Administrative Services; Rule 12b-1
Distribution Plan; Custodian; Independent Accountants
17 Portfolio Transactions
18 General Information
19 NONE
20 Tax Status
21 Rule 12b-1 Distribution Plan
22 Calculation of Performance Data
23 NONE
<PAGE>
SUPPLEMENT DATED NOVEMBER 18, 1997
TO
PAUZE` TOMBSTONE FUND(TM)
PROSPECTUS, DATED MAY 1, 1997
The following language should be read in conjunction with the Sections
entitled "Investment Objective and Risk Considerations", pages 4-5 of the
Prospectus, "Index Performance", pages 5-6 of the Prospectus and "Investment
Policies and Risks", pages 6-8 of the Prospectus:
Under normal market conditions, the Fund will invest in the common stocks
of the companies that comprise the Pauze` Tombstone Common Stock Index(TM) (the
"Index") in approximately the same proportions as those common stocks have in
the Index. However, when the Adviser determines that market conditions so
warrant, the Fund's investments in those common stocks may vary from their
proportions in the Index, and at times such variance may be significant. Any
such variance will make it more likely that the Fund's performance will vary
from the performance of the Index.
