FINANCIAL INVESTORS TRUST, 485BPOS, 1999-08-27

FINANCIAL INVESTORS TRUST
485BPOS, 1999-08-27

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<PAGE>
As filed with the Securities and Exchange Commission on August 27, 1999
---------------
1933 Act Registration No. 33-72424
1940 Act Registration No. 811-8194

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 x
-
Pre-Effective Amendment No. __ _
Post-Effective Amendment No. 13 x
--- -

and/or

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940 x
-
Amendment No. 15 x
-
(Check appropriate box or boxes.)

FINANCIAL INVESTORS TRUST
-------------------------
(Exact name of Registrant as Specified in Charter)

370 17th Street, Suite 3100
Denver, CO 80202
----------------
(Address of principal executive offices) (Zip Code)

Registrant's Telephone Number, including Area Code: (303) 623-2577
--------------

Russell C. Burk, Secretary
Financial Investors Trust
370 17th Street, Suite 3100
Denver, CO 80202
----------------
(Name and Address of Agent of Service)

Copy to:

Lester Woodward, Esq.
Davis, Graham & Stubbs LLP
370 17th Street, Suite 4700
Denver, CO 80202

Approximate Date of Proposed Public Offering: As soon as practicable after
the effective date of this
Amendment

It is proposed that this filing will become effective (check appropriate box):

x immediately upon filing pursuant to paragraph (b)
- -
on (date) pursuant to paragraph (b)
- -
60 days after filing pursuant to paragraph (a) (1)
- -
on ____________, pursuant to paragraph (a) (1)
- -
75 days after filing pursuant to paragraph (a) (2)
- -
on (date) pursuant to paragraph (a) (2)
- -

If appropriate, check the following box:

This post-effective amendment designates a new effective date for a
- - previously filed post-effective amendment.

Title of Securities Being Registered: Shares of Beneficial Interest

Registrant registered an indefinite number of shares pursuant to regulation
24f-2 under the Investment Company Act of 1940 on July 30, 1998.
<PAGE>

[GRAPHIC] FINANCIAL
INVESTORS
TRUST

-------------------------------------------------
U.S. TREASURY
MONEY MARKET FUND
-------------------------------------------------

PROSPECTUS
AUGUST 27, 1999

GE INVESTMENTS
--------------
THE INVESTMENT MANAGEMENT ARM OF GE
INVESTMENT ADVISOR

AS WITH OTHER MUTUAL FUNDS, THE SECURITIES AND EXCHANGE COMMISSION
HAS NOT APPROVED OR DISAPPROVED THESE FUNDS' SHARES OR DETERMINED
WHETHER THE INFORMATION IN THIS PROSPECTUS IS ACCURATE OR COMPLETE.
ANYONE WHO TELLS YOU OTHERWISE IS COMMITTING A CRIME.

<PAGE>

- --------------------------------------------------------------------------------
TABLE OF CONTENTS
<TABLE>
<CAPTION>
Page
----
<S> <C>
Investment Objective and Primary Risks........................................1

Performance...................................................................2

Fees and Expenses of the Fund.................................................3

Investment Details............................................................4

Who Manages the Fund?.........................................................4

How Do I Invest in the Fund?..................................................5

Financial Highlights..........................................................8

Additional Information about the Fund................................Back Cover
</TABLE>
- --------------------------------------------------------------------------------

No person has been authorized to give any information or to make any
representation that is not contained in this Prospectus, or in the Statement of
Additional Information that is incorporated herein by reference, in connection
with the offering made by this Prospectus and, if given or made, such
information or representations must not be relied upon. Also, this Prospectus
does not constitute an offering by the Trust or its Distributor in any
jurisdiction where such an offering would not be lawful.

<PAGE>

- --------------------------------------------------------------------------------
INVESTMENT OBJECTIVE AND PRIMARY RISKS
- --------------------------------------------------------------------------------

INVESTMENT OBJECTIVE -- The investment objective of the U.S. Treasury Money
Market Fund (the "Fund") is to seek as high a level of current income as is
consistent with preservation of capital and liquidity.

PRINCIPAL INVESTMENT STRATEGIES -- The Fund invests exclusively in U.S. Treasury
bills, notes and other direct obligations of the U.S. Treasury and repurchase
agreements collateralized to 102% by U.S. Treasury obligations. The Fund is
required to maintain a dollar-weighted average portfolio maturity of 90 days or
less and seeks to maintain its net asset value per share at $1.00 for purposes
of purchases and redemptions.

PRINCIPAL INVESTMENT RISKS -- An investment in the Fund is subject to many
risks, including:

- - INTEREST RATE RISK. When interest rates change, the value of the Fund's
holdings will be affected. An increase in interest rates tends to reduce the
market value of debt securities.

- - CREDIT RISK. The value of the debt securities held by the Fund fluctuates with
the credit quality of the issuers of those securities. Credit risk relates to
the ability of the issuer to make payments of principal and interest when due,
including default risk.

FUND FACTS

GOAL: To provide investors with a high level of current
income while seeking to preserve principal.

PRINCIPAL INVESTMENTS:
- U.S. Treasury Obligations
- Repurchase Agreements

INVESTMENT ADVISER (THE "ADVISER"):
- General Electric Investment Management,
Inc. ("GEIM")

DISTRIBUTOR:
- ALPS Mutual Funds Services, Inc. ("ALPS")

AN INVESTMENT IN THE FUND IS NOT A BANK DEPOSIT AND IS NOT ISSUED OR GUARANTEED
BY THE FEDERAL DEPOSIT INSURANCE CORPORATION OR ANY OTHER GOVERNMENTAL AGENCY.
ALTHOUGH THE FUND SEEKS TO PRESERVE THE VALUE OF YOUR INVESTMENT AT $1.00 PER
SHARE, IT IS POSSIBLE TO LOSE MONEY BY INVESTING IN THE FUND.

For more information about the risk factors identified above, please refer to
the section entitled "INVESTMENT DETAILS" later in this prospectus. The
Statement of Additional Information ("SAI") contains additional information
about the risks associated with investing in the Fund.

SHOULD I INVEST IN THE U.S. TREASURY MONEY MARKET FUND?

The Fund primarily is intended for municipal investors, including
municipalities, counties, and state agencies, as well as institutional
investors such as broker/dealers, corporations, investment advisers, credit
unions, banks, and other financial institutions.

[GRAPHIC] -------------------------------------------------------------------- 1
<PAGE>

- --------------------------------------------------------------------------------
PERFORMANCE
- --------------------------------------------------------------------------------

The following information illustrates the changes in the Fund's performance from
year to year. Returns are based on past results and are not an indication of
future performance.

YEAR-BY-YEAR TOTAL RETURN

[CHART]

During the periods shown in the chart for the Fund, the highest return for a
quarter was 1.42% (quarter ending June 30, 1995), and the lowest return for a
quarter was 1.02% (quarter ending September 30, 1994). The Fund's year-to-date
return for the period ended June 30, 1999 was 2.16%.

AVERAGE ANNUAL TOTAL RETURNS
(for the period ended December 31, 1998)

<TABLE>
<CAPTION>
INCEPTION 1 SINCE
DATE YEAR INCEPTION
<S> <C> <C> <C>
- --------------------------------------------------------------------------------
U.S. TREASURY MONEY MARKET FUND MAY 25, 1994 5.15% 5.20%
</TABLE>

2 -------------------------------------------------------------------- [GRAPHIC]
<PAGE>

- --------------------------------------------------------------------------------
FEES AND EXPENSES OF THE FUND
- --------------------------------------------------------------------------------

This table describes the fees and expenses that you pay if you buy and hold
shares of the Fund.

<TABLE>
<CAPTION>
--------------------------------------------------
SHAREHOLDER FEES
(fees paid directly from your investment)
--------------------------------------------------
<S> <C>
Maximum Sales Load None

Maximum Deferred Sales Charge None

Redemption None

Exchange None
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------

ANNUAL FUND OPERATING EXPENSES
(paid from Fund assets)

--------------------------------------------------
<S> <C>
Management Fees 0.05%
--------------------------------------------------
Distribution (12b-1) Fees None
--------------------------------------------------
Other Expenses 0.52%
--------------------------------------------------
Total Annual Fund Operating
Expenses 0.57%
--------------------------------------------------
Fee Waiver (0.24)%*
--------------------------------------------------
Net Annual Fund Operating Expenses 0.33%
--------------------------------------------------
</TABLE>
* The amount for "Other Expenses" includes
administration fees payable to ALPS. ALPS has
contractually agreed to waive a portion of the
administration fees that it is entitled to
receive, and/or assume a portion of Fund expenses,
until at least April 30, 2000. As a result, Net
Annual Fund Operating Expenses for the Fund will
be no more than 0.33% for that period. You
will be notified if these waivers are discontinued
after that date resulting in a material change to
the expense ratio.
--------------------------------------------------

EXAMPLE -- The following example is intended to help you compare the cost of
investing in the Fund with the cost of investing in other mutual funds. The
example assumes that you invest $10,000 in the Fund for the time periods
indicated and that the Fund returns 5% each year. After one year, the example
does not take into consideration ALPS' agreement to waive fees. Although your
actual costs may be higher or lower, based on these assumptions your costs would
be:

<TABLE>
<CAPTION>
ONE THREE FIVE TEN
YEAR YEARS YEARS YEARS
<S> <C> <C> <C> <C>
- --------------------------------------------------------------------------------
U.S. TREASURY MONEY MARKET FUND $34 $158 $294 $690
</TABLE>

[GRAPHIC] -------------------------------------------------------------------- 3

<PAGE>

- --------------------------------------------------------------------------------
INVESTMENT DETAILS
- --------------------------------------------------------------------------------

INVESTMENT OBJECTIVE -- The investment objective of the Fund is to seek as high
a level of current income as is consistent with preservation of capital and
liquidity.

PRINCIPAL INVESTMENT RISKS -- An investment in the Fund is subject to many
risks, including:

- - INTEREST RATE RISK. When interest rates change, the value of the Fund's
holdings will be affected. An increase in interest rates tends to reduce the
market value of debt securities, while a decline in interest rates tends to
increase their values.

DESCRIPTION OF PRINCIPAL SECURITY TYPES - The Fund invests exclusively in the
following types of securities:

- - U.S. TREASURY OBLIGATIONS: U.S. Treasury Obligations such as U.S.
Treasury bills and notes, are debt obligations issued or guaranteed by the
U.S. Treasury. U.S. Treasury Obligations are backed by the full faith and
credit of the United States.

- - REPURCHASE AGREEMENTS: Repurchase agreements involve the purchase of a
security by a purchaser and a simultaneous agreement by the seller (generally a
bank or dealer) to repurchase the security from the purchaser at a specified
date or on demand. This technique offers a method of earning income on idle
cash.

The Statement of Additional Information ("SAI") contains additional information
about the risks associated with investing in the Fund.

YEAR 2000 RISK -- The Fund could be adversely affected if the computer systems
used by the Fund and the Fund's other service providers do not properly process
and calculate date-related information on or after January 1, 2000. We are
working to avoid Year 2000-related problems in our systems and to obtain
assurances from other service providers that they are taking similar steps. In
addition, issuers of securities in which the Fund invests may be adversely
affected by Year 2000-related problems. This could have an impact on the value
of the Fund's investments and the Fund's share price.

- --------------------------------------------------------------------------------
WHO MANAGES THE FUND?
- --------------------------------------------------------------------------------

The Adviser is a wholly-owned subsidiary of General Electric Company ("GE"). The
principal address of the Adviser is 3003 Summer Street, Stamford, CT 06905.
Through GEIM and General Electric Investment Corporation ("GEIC"), an affiliated
company of GEIM, wholly owned by GE, and their predecessors, GE has more than 70
years of investment management experience. GEIM and GEIC collectively provide
investment management services to various institutional accounts with total
assets as of June 30, 1998 of approximately $69 billion, of which approximately
$1.7 billion was invested in money market funds.

Pursuant to the Investment Advisory Agreement, the Adviser has agreed to provide
a continuous investment program for the Fund, including investment research and
management with respect to the assets of the Fund. GEIM is entitled to receive
management fees of 0.05% on the first $500 million of average net assets of the
Fund, 0.075% on the next $500 million and 0.10% on average net assets in excess
of $1 billion but not exceeding $1.5 billion and 0.15% on average net assets in
excess of $1.5 billion. During the fiscal year ended April 30, 1999, the Fund
paid the Adviser 0.05% of average net assets of the Fund in advisory fees.

4 -------------------------------------------------------------------- [GRAPHIC]
<PAGE>

ADMINISTRATIVE SERVICES AGREEMENT

The Trustees have entered into an administrative services agreement with ALPS.
Under the administrative services agreement, ALPS provides the Fund with certain
administrative and clerical services, including, but not limited to: preparing
the Fund's semi-annual reports; coordinating the preparation of the Fund's
Federal and state tax returns; monitoring the Fund's compliance with its
investment restrictions and policies; and generally assisting in the operation
of the Fund. In addition, under the administrative services agreement ALPS also,
among other things, performs fund accounting and transfer agency services, and
pays the costs of the Fund's custodian and external auditors. Pursuant to the
administrative services agreement, ALPS receives a fee from the Fund that is
computed daily and paid monthly at the following annual rates: the greater of
$600,000 or 0.26% of average daily net assets of the Fund up to $500 million;
0.24% of average daily net assets of the Fund in excess of $500 million up to $1
billion; and 0.22% of the average daily net assets of the Fund that exceed $1
billion.

ALPS has agreed to voluntarily waive a portion of the administration fees that
it is entitled to receive from the Fund and to assume a portion of the expenses
of the Fund until at least April 30, 2000. More particularly, ALPS has
voluntarily agreed to waive a portion of the administration fees that it is
entitled to receive under the administrative services agreement with the Fund ,
and/or assume a portion of Fund expenses, to the extent necessary for the Fund
to maintain an expense ratio that does not exceed 0.33% of the average net
assets of the Fund.

During the fiscal year ended April 30, 1999, ALPS earned administration fees of
$603,289 before waiving fees of $318,834.

- --------------------------------------------------------------------------------
HOW DO I INVEST IN THE FUND?
- --------------------------------------------------------------------------------

HOW ARE INVESTMENTS MADE?

As described below, shares of the Fund may be purchased through ALPS. Shares of
the Fund may be purchased using the Federal Reserve Wire System ("Federal
Funds") or by check or money order. Your check or money order must be payable in
U.S. dollars to the Fund and be drawn on a bank located within the U.S.

Federal Funds should be wired to:

State Street Bank & Trust Co.
ABA# 011000028
U.S. Treasury Money Market Fund
Credit DDA# 22404081
(Account Registration)
(Account Number)

Orders for the purchase of shares will be executed at the net asset value per
share next determined after an order has been received in good form. All funds
received are invested in full and fractional shares of the Fund. ALPS serves as
the Fund's Transfer Agent and ALPS maintains records of each shareholder's
holdings of Fund shares. Financial Investors Trust (the "Trust") reserves the
right to reject any purchase.

An initial investment in the Fund must be preceded or accompanied by a
completed, signed application. Your completed application should be forwarded
to:

Financial Investors Trust
370 17th Street, Suite 3100
Denver, CO 80202

Orders for the purchase of shares will be executed at the net asset value per
share (the "public offering price") next determined after an order has been
received by the Fund in the proper form. If your purchase order is received in
proper order by the Fund by 5:00 p.m. Eastern Time, your order will be executed
that day.

MINIMUM PURCHASE AND ACCOUNT BALANCE REQUIREMENTS

The minimum initial investment in the Fund is $100,000 and additional
investments may be made in any amount. The minimum purchase requirements do not
apply to reinvested dividends. If your account balance falls below $25,000 due
to redemptions or exchanges, your account may be closed. In the event that your
account is closed, the Fund will wire the proceeds to the bank account of
record, or issue a check to the shareholder of record. The Fund will notify you
when your account balance has fallen below $25,000 and you will be given 30 days
to increase your investment above that amount.

HOW TO REDEEM FUND SHARES

[GRAPHIC] -------------------------------------------------------------------- 5
<PAGE>

Fund. Redemption orders are processed at the net asset value per share next
determined after the Fund receives your order. If the Fund receives your
redemption order before 1:00 p.m. Eastern Time on a Business Day, the Fund
will generally pay for your redeemed shares on that day. Otherwise, the Fund
generally will pay for your redeemed shares on the next Business Day. The
Fund reserves the right to pay for redeemed shares within seven days after
receiving your redemption order if, in the judgment of the Adviser, an
earlier payment could adversely affect the Fund.

REGULAR REDEMPTIONS: You may redeem shares by sending a written request to
Financial Investors Trust, 370 17th Street, Suite 3100, Denver, CO 80202. You
must sign a redemption request. Your written redemption request must:

(i) state the number of shares to be redeemed; and
(ii) identify your shareholder account number.

EACH SIGNATURE MUST BE GUARANTEED BY EITHER A BANK THAT IS A MEMBER OF THE FDIC,
A TRUST COMPANY OR A MEMBER FIRM OF A NATIONAL SECURITIES EXCHANGE OR OTHER
ELIGIBLE GUARANTOR INSTITUTION. THE FUND WILL NOT ACCEPT GUARANTEES FROM
NOTARIES PUBLIC. Guarantees must be signed by an authorized person at the
guarantor institution, and the words "Signature Guaranteed" must appear with the
signature. A redemption request will not be deemed to be properly received until
the Fund receives all required documents in proper form.

When the Fund wires your redemption proceeds, the wire must be paid to the same
bank and account as designated on the Fund's Account Application or in your
written instructions to the Fund. If your bank is not a member of the Federal
Reserve System, your redemption proceeds will be wired to a correspondent bank.
Immediate notification by the correspondent bank to your bank will be necessary
to avoid a delay in crediting the funds to your bank account.

BY TELEPHONE AND FACSIMILE: You may redeem shares by telephone or facsimile.
Shareholders must check the appropriate box on the Account Application to
activate facsimile and/or telephone redemption privileges. Shares may be
redeemed by telephoning the Fund at (800) 298-3442 (or sending a facsimile
transmission to the Fund at (303) 825-2575 and giving the account name, account
number, Personal Identification Number (PIN#), name of Fund and amount of
redemption). Proceeds from redemptions will be wired directly to your account at
a commercial bank within the United States.

In order to arrange for facsimile and/or telephone redemptions after you have
opened your account, or to change the bank account or address designated to
receive redemption proceeds, send a written request to the Fund at the address
listed under "REGULAR REDEMPTIONS." The request must be signed by you with the
signatures guaranteed as described above. The Trust may modify or terminate
procedures for redeeming shares by telephone but will not materially change or
terminate it without giving shareholders 60 days' written notice.

During periods of substantial economic or market change, telephone or facsimile
redemptions may be difficult to complete. If you are unable to contact the Fund
by telephone or facsimile, you may redeem your shares by mail as described above
under "REGULAR REDEMPTIONS."

By electing the facsimile and/or telephone redemption option, you may be giving
up a measure of security which you might have had if you were to redeem in
writing. The Trust will employ reasonable procedures to confirm that
instructions communicated by telephone or facsimile are genuine, such as
recording telephone calls, providing written confirmation of transactions, or
requiring a form of personal identification prior to acting on instructions
received by telephone or facsimile. To the extent the Trust does not employ
reasonable procedures, it and/or its service contractors may be liable for any
losses due to unauthorized or fraudulent instructions. Neither the Trust nor
ALPS will be liable for following instructions communicated by telephone or
facsimile that are reasonably believed to be genuine. Accordingly, you, as a
result of this policy, may bear the risk of fraudulent telephone or facsimile
redemption transactions.

CHECK REDEMPTION: You may write an unlimited number of checks drawn on your
account by either requesting the privilege on your account application or by
sending a written request to the Fund. In order to establish the checkwriting
option, you must manually sign a signature card that includes all authorized
individuals. Checks will be sent only to the registered owner(s) of the account
and only to the address of record. Checks may be made payable to the order of
any person. When a check is presented to the Transfer Agent for payment, the
Transfer Agent, as your agent, will cause the Fund to redeem a sufficient number
of your Fund shares to cover the amount of the check. Shares earn dividends
through the day the redemption is processed. There is no charge to you for the
use of the checks; however, the Transfer Agent will impose a charge for stopping
payment of a check upon your request, or if the Transfer Agent cannot honor a
check due to insufficient funds or other valid reasons. A request to reverse a
stop payment order must be received in writing.

Checks may not be written to redeem shares purchased by check until the date
that good funds are credited to the Fund's custodian by its correspondent bank.
If the amount of the check is greater than the value of the shares in your
account, the check will be returned marked "Insufficient Funds." Checks written
on amounts subject to the hold described above will be returned marked
"Uncollected." If your check does not clear, you will be responsible for any
loss the Fund, Custodian, or Transfer Agent may incur.

6 -------------------------------------------------------------------- [GRAPHIC]
<PAGE>

A check may not be used to close an account. Checkwriting is not available to
holders of shares in certificate form or if you are subject to Internal
Revenue Service backup withholding. It is also inadvisable for you to write a
check for an amount close to the total value of your account. The Trust
reserves the right to terminate or alter the checkwriting service at any time.

EXCHANGE OF FUND SHARES

You may sell your Fund shares and buy shares of the U.S. Government Money Market
Fund or the Prime Money Market Fund, other investment portfolios of the Trust,
in exchange by written request. There are no fees or commissions for exchanging
Fund shares. However, you must satisfy the minimum balance requirements of each
Fund that you are considering investing in. If you have established the
privilege on your Account Application, you may also initiate exchanges by
telephone or facsimile. Exchange requests should be directed to the Fund at
(800) 298-3442.

Exchange transactions must be for amounts of $1,000 or more. Exchanges may have
tax consequences, so you should consult your tax adviser for further
information. The Fund into which you want to exchange must be registered for
sale in your state. Prior to requesting an exchange of Fund shares you should
call the Fund at (800) 298-3442 to request a current prospectus for the Fund
which you want to exchange and you should read the prospectus carefully before
investing.

During periods of significant economic or market change, telephone or facsimile
exchanges may be difficult to complete. If you are unable to contact the Fund by
telephone or facsimile, you may also mail the exchange request to the Fund at
the address listed under "REGULAR REDEMPTIONS." Neither the Trust nor ALPS will
be responsible for the authenticity of exchange instructions received by
telephone or facsimile except as set forth under "HOW TO REDEEM FUND SHARES - BY
TELEPHONE AND FACSIMILE."

The Trust can provide you with information concerning certain limitations on the
exchange privilege, including those related to frequency. The Trust may modify
or terminate the exchange privilege but will not materially change or terminate
it without giving shareholders 60 days' written notice.

HOW ARE FUND SHARES VALUED?

The price at which you buy, sell or exchange Fund shares is the share price or
net asset value (NAV). The share price for the Fund is determined by adding the
value of the Fund's investments, cash and other assets, deducting liabilities,
and then dividing that value by the total number of the Fund's shares
outstanding. The Fund normally calculates its NAV at 5:00 p.m. Eastern Time.

The Trustees have established procedures designed to maintain a stable net asset
value of $1.00 per share, to the extent reasonably possible. More particularly,
the Trustees have approved and adopted procedures under Rule 2a-7. Under
guidelines of Rule 2a-7, the Fund uses the amortized cost method to value its
portfolio securities. The amortized cost method involves valuing a security at
its cost and amortizing any discount or premium over the period of maturity,
regardless of the impact of fluctuating interest rates on the market value of
the security.

WHAT IS THE EFFECT OF FEDERAL INCOME TAX ON THIS INVESTMENT?

While municipal investors are generally exempt from Federal income taxes, each
investor should independently ascertain its tax status. With respect to
investors who are not exempt from Federal income taxes, dividends derived from
net investment income and short term capital gains are taxable as ordinary
income distributions and are taxable when paid, whether investors receive
distributions in cash or reinvest them in additional shares, except that
distributions declared in December and paid in January are taxable as if paid on
December 31. The Fund will send to non-exempt investors an IRS Form 1099-DIV
showing their taxable distributions for the past calendar year.

The information above is only a summary of some of the federal tax consequences
generally affecting the Fund and its shareholders, and no attempt has been made
to discuss individual tax consequences. In addition to Federal taxes, investors
may be subject to state or local taxes on their investment. Investors should
consult their tax advisor to determine whether the Fund is suitable to their
particular tax situation.

When investors sign their account application, they will be asked to certify
that their social security or taxpayer identification number is correct and that
they are not subject to 31% backup withholding for failing to report income to
the IRS. If investors violate IRS regulations, the IRS can require the Fund to
withhold 31% of taxable distributions and redemptions.

[GRAPHIC] -------------------------------------------------------------------- 7
<PAGE>

The Fund declares dividends from net investment income daily and pays such
dividends monthly. The Fund intends to distribute substantially all of its net
investment income and capital gains, if any, to shareholders each calendar year
as well as on a fiscal year basis.

Since all of the Fund's net investment income is expected to be derived from
earned interest, it is anticipated that all dividends paid by the Fund will be
taxable as ordinary income to those shareholders who are not exempt from Federal
income taxes, and that no part of any distribution will be eligible for the
dividends received deduction for corporations.

- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
- --------------------------------------------------------------------------------

The financial highlights table is intended to help you understand the Fund's
financial performance since the inception of the Fund. Certain information
reflects financial results for a single Fund share. The total returns in the
table below represent the rate that an investor would have earned on an
investment in the Fund (assuming reinvestment of all dividends and
distributions). This information has been audited by Deloitte & Touche LLP,
whose report, along with the Fund's financial statements, is included in the
Fund's annual report, which is available upon request by calling the Fund at
(800) 298-3442.

FINANCIAL HIGHLIGHTS
Selected data for a share of beneficial
interest outstanding throughout the period indicated(1):
<TABLE>
<CAPTION>
For the Period Ended April 30,

1999 1998 1997 1996 1995 (2)
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Net asset value - beginning of period $1.00 $1.00 $1.00 $1.00 $1.00
- -----------------------------------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS
Net investment income 0.05 0.05 0.05 0.05 0.04
- -----------------------------------------------------------------------------------------------------------------------------------
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS
Dividends from net investment income (0.05) (0.05) (0.05) (0.05) (0.04)
- -----------------------------------------------------------------------------------------------------------------------------------

Net asset value - end of period $1.00 $1.00 $1.00 $1.00 $1.00
- -----------------------------------------------------------------------------------------------------------------------------------

Total return 4.90% 5.30% 5.15% 5.44% 4.71%(3)
- -----------------------------------------------------------------------------------------------------------------------------------

RATIOS/SUPPLEMENTAL DATA:

Net assets, end of period (000) $90,862 $138,169 $167,692 $316,364 $109,055
- -----------------------------------------------------------------------------------------------------------------------------------

Ratio of expenses to average net assets 0.33% 0.33% 0.30% 0.30% 0.50%(3)
- -----------------------------------------------------------------------------------------------------------------------------------
Ratio of net investment income to
average net assets 4.83% 5.18% 5.02% 5.36% 4.87%(3)
- -----------------------------------------------------------------------------------------------------------------------------------
Ratio of expenses to average net assets
without fee waivers 0.57% 0.55% 0.67% 0.71% 1.32%(3)
- -----------------------------------------------------------------------------------------------------------------------------------
Ratio of net investment income to
average net assets without fee waivers 4.59% 4.96% 4.65% 4.95% 4.05%(3)
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

(1) The financial highlights prior to March 24, 1997 reflect the operations of
the Fund while the Fund's investment adviser was FGIC Advisors, Inc. GEIM
was approved as the Fund's investment adviser at a special meeting of the
shareholders of the Fund on March 21, 1997.
(2) Operations commenced on May 25, 1994.
(3) Annualized

8 -------------------------------------------------------------------- [GRAPHIC]
<PAGE>

ADDITIONAL INFORMATION ABOUT THE FUND

If you would like more information about the Fund, the following documents
are available free upon request:

STATEMENT OF ADDITIONAL INFORMATION (SAI)

The SAI contains additional information about all aspects of the Fund. A
current SAI has been filed with the Securities and Exchange Commission (the
"SEC") and is incorporated herein by reference. For a copy of the SAI, write
or call the Fund at the address or phone number listed below.

Information about the Fund (including the SAI) also may be reviewed and
copied, upon payment of a duplicating fee, at the SEC's Public Reference Room
in Washington, D.C. You also can obtain this information, upon payment of a
duplicating fee, by writing to the Public Reference Section of the SEC,
Washington, D.C. 20549-6009.

The SEC also maintains a Web site located at http://www.sec.gov that contains
the SAI, material incorporated herein by reference, and other information
regarding the Fund. For more information about the operation of the Public
Reference Room, please call the SEC at 1-800-SEC-0330.

ANNUAL AND SEMI-ANNUAL REPORTS

The Fund's annual and semi-annual reports provide additional information
about the Fund's investments. The annual report contains a discussion of the
market conditions and investment strategies that significantly affected the
Fund's performance during the last fiscal year.

- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------
TO OBTAIN THE SAI OR THE MOST RECENT ANNUAL OR SEMI-ANNUAL
REPORT FOR THE FUND FREE OF CHARGE, OR TO OBTAIN OTHER INFORMATION
ABOUT THE FUND AND TO MAKE SHAREHOLDER INQUIRIES, YOU MAY WRITE TO
ALPS MUTUAL FUNDS SERVICES AT 370 17TH STREET, SUITE 3100, DENVER,
COLORADO 80202 OR CALL ALPS AT 1-800-298-3442.
- -------------------------------------------------------------------------------
- -------------------------------------------------------------------------------

---------------------------------
---------------------------------
FINANCIAL INVESTORS TRUST
FUNDS
GE INVESTMENTS
- ----------------------------------- - Are NOT insured by the FDIC, a
THE INVESTMENT MANAGEMENT ARM OF GE bank or any agency of the U.S.
INVESTMENT ADVISOR Government.
- Are NOT bank deposits or
other obligations of or
guaranteed by a bank.
[LOGO] - Involve investment risks,
including the possible loss of
the principal amount invested.
SPONSOR AND DISTRIBUTOR ---------------------------------
---------------------------------

Investment Company Act File No. 811-08194

<PAGE>

[GRAPHIC] FINANCIAL
INVESTORS
TRUST

-------------------------------------------------
U.S. GOVERNMENT
MONEY MARKET FUND
-------------------------------------------------

PROSPECTUS
AUGUST 27, 1999

GE INVESTMENTS
--------------
THE INVESTMENT MANAGEMENT ARM OF GE
INVESTMENT ADVISOR

AS WITH OTHER MUTUAL FUNDS, THE SECURITIES AND EXCHANGE COMMISSION HAS NOT
APPROVED OR DISAPPROVED THIS FUND'S SHARES OR DETERMINED WHETHER THE
INFORMATION IN THIS PROSPECTUS IS ACCURATE OR COMPLETE. ANYONE WHO TELLS YOU
OTHERWISE IS COMMITTING A CRIME.

<PAGE>

Performance...................................................................2

Fees and Expenses of the Fund.................................................3

Investment Details............................................................4

Who Manages the Fund?.........................................................5

How Do I Invest in the Fund?..................................................5

Financial Highlights..........................................................9

Additional Information about the Fund................................Back Cover
- -------------------------------------------------------------------------------
</TABLE>

<PAGE>

- -------------------------------------------------------------------------------
INVESTMENT OBJECTIVE AND PRIMARY RISKS
- -------------------------------------------------------------------------------

INVESTMENT OBJECTIVE -- The investment objective of the U.S. Government Money
Market Fund (the "Fund") is to seek as high a level of current income as is
consistent with preservation of capital and liquidity.

PRINCIPAL INVESTMENT STRATEGIES -- The Fund invests exclusively in obligations
issued or guaranteed as to principal and interest by the U.S. Government and
repurchase agreements collateralized to 102% by U.S. Treasury obligations and
other direct obligations of the U.S. Government or its agencies. The Fund may
also invest in mortgage related securities issued by various government
agencies, such as the Government National Mortgage Association, and government
related organizations, such as the Federal National Mortgage Association. The
Fund is required to maintain a dollar-weighted average portfolio maturity of 90
days or less and seeks to maintain its net asset value per share at $1.00 for
purposes of purchases and redemptions.

PRINCIPAL INVESTMENT RISKS -- An investment in the Fund is subject to many
risks, including:

- - INTEREST RATE RISK. When interest rates change, the value of the Fund's
holdings will be affected. An increase in interest rates tends to reduce the
market value of debt securities.

- - CREDIT RISK. The value of the debt securities held by the Fund fluctuates
with the credit quality of the issuers of those securities. Credit risk relates
to the ability of the issuer to make payments of principal and interest when
due, including default risk.

- - PREPAYMENT RISK. This investment risk is primarily associated with
mortgage-backed securities. During a period of declining interest rates,
homeowners may refinance their high-rate mortgages and prepay the principal.
Cash from these prepayments flows through the prepay the mortgage-backed
securities, necessitating reinvestment in bonds with lower interest rates,
which may lower the return of the Fund.

FUND FACTS

GOAL: To provide investors with a high level of current
income while seeking to preserve principal.

PRINCIPAL INVESTMENTS:
- U.S. Government Obligations
- Mortgage-Related Securities
- Repurchase Agreements

INVESTMENT ADVISER (THE "ADVISER"):
- General Electric Investment Management,
Inc. ("GEIM")

DISTRIBUTOR:
- ALPS Mutual Funds Services, Inc. ("ALPS")

SHOULD I INVEST IN THE U.S. GOVERNMENT MONEY MARKET FUND?

[GRAPHIC] --------------------------------------------------------------------1

<PAGE>

- -------------------------------------------------------------------------------
PERFORMANCE
- -------------------------------------------------------------------------------

The following information illustrates the changes in the Fund's performance
from year to year. Returns are based on past results and are not an indication
of future performance.

YEAR-BY-YEAR TOTAL RETURN

[CHART]

During the periods shown in the chart for the Fund, the highest return for a
quarter was 1.62% (quarter ending June 30, 1995), and the lowest return for a
quarter was 0.97% (quarter ending September 30, 1994). The Fund's year-to-date
return for the period ended June 30, 1999 was 2.30%

AVERAGE ANNUAL TOTAL RETURNS
(for the period ended December 31, 1998)

<TABLE>
<CAPTION>
INCEPTION 1 SINCE
DATE YEAR INCEPTION
<S> <C> <C> <C>
- --------------------------------------------------------------------------------
U.S. GOVERNMENT MONEY MARKET FUND June 7,1994 5.39% 5.26%
</TABLE>

2 -------------------------------------------------------------------- [GRAPHIC]
<PAGE>

- --------------------------------------------------------------------------------
FEES AND EXPENSES OF THE FUND
- --------------------------------------------------------------------------------

This table describes the fees and expenses that you pay if you buy and hold
shares of the Fund.

Maximum Deferred Sales Charge None

Redemption None

Exchange None
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------

ANNUAL FUND OPERATING EXPENSES
(paid from Fund assets)

--------------------------------------------------
<S> <C>
Management Fees 0.04%
--------------------------------------------------
Distribution (12b-1) Fees None
--------------------------------------------------
Other Expenses 0.20%
--------------------------------------------------
Total Annual Fund Operating Expenses 0.24%
--------------------------------------------------
Fee Waiver (0.02)%*
--------------------------------------------------
Net Annual Fund Operating Expenses 0.22%
--------------------------------------------------
</TABLE>
* The amount for "Other Expenses" includes
administration fees payable to ALPS. ALPS has
contractually agreed to waive a portion of the
administration fees that it is entitled to
receive, and/or assume a portion of Fund expenses,
until at least April 30, 2000. As a result, Net
Annual Fund Operating Expenses for the Fund will
be no more than 0.22% for that period. Currently,
ALPS is waiving fees to the extent necessary to
limit Net Annual Fund Operating Expenses to 0.20%.
You will be notified if these waivers are discontinued
after April 30, 2000 resulting in a material change
to the expense ratio.
--------------------------------------------------

EXAMPLE -- The following example is intended to help you compare the cost of
investing in the Fund with the cost of investing in other mutual funds. The
example assumes that you invest $10,000 in the Fund for the time periods
indicated and that the Fund returns 5% each year. After one year, the example
does not take into consideration ALPS' agreement to waive fees. Although your
actual costs may be higher or lower, based on these assumptions your costs
would be:

<TABLE>
<CAPTION>
ONE THREE FIVE TEN
YEAR YEARS YEARS YEARS
<S> <C> <C> <C> <C>
- --------------------------------------------------------------------------------
U.S. GOVERNMENT MONEY MARKET FUND $23 $75 $133 $304
</TABLE>

[GRAPHIC] -------------------------------------------------------------------- 3

<PAGE>

- --------------------------------------------------------------------------------
INVESTMENT DETAILS
- --------------------------------------------------------------------------------

INVESTMENT OBJECTIVE -- The investment objective of the Fund is to seek as high
a level of current income as is consistent with preservation of capital and
liquidity.

PRINCIPAL INVESTMENT RISKS -- An investment in the Fund is subject to many
risks, including:

- - CREDIT RISK. The value of the debt securities held by the Fund fluctuates
with the credit quality of the issuers of those securities. Credit risk
relates to the ability of the issuer to make payments of principal and
interest when due, including default risk.

The Fund's average weighted maturity will not exceed 90 days, and its yield
will fluctuate with changes in short-term interest rates. Also, the securities
held by the Fund will, at the time of purchase, have remaining maturities of 13
months or less. In selecting securities, the Adviser examines the relationships
among yields on various types and maturities of money market securities in the
context of their outlook for interest rates. For example, mortgage related
securities often offer a yield advantage over Treasury bills. And if rates are
expected to fall, longer-maturities may be purchased, which typically have
higher yields than shorter maturities, to try to preserve the fund's income
level. Conversely, shorter maturities may be favored if rates are expected to
rise.

DESCRIPTION OF PRINCIPAL SECURITY TYPES - The Fund invests exclusively in the
following types of securities:

- - U.S. GOVERNMENT SECURITIES: U.S. government securities are debt obligations
issued or guaranteed by the U.S. Treasury or by an agency or instrumentality of
the U.S. government. Not all U.S. government securities are backed by the full
faith and credit of the United States. For example, obligations issued by the
Federal Farm Credit Bank or by the Federal National Mortgage Association are
supported by the agency's right to borrow money from the U.S. Treasury under
certain circumstances. There is no guarantee that the government will support
these types of obligations, and, therefore, they involve more risk than other
government obligations.

The Statement of Additional Information ("SAI") contains additional information
about the risks associated with investing in the Fund.

4 --------------------------------------------------------------------[GRAPHIC]

<PAGE>

- --------------------------------------------------------------------------------
WHO MANAGES THE FUND?
- -------------------------------------------------------------------------------

The Adviser is a wholly-owned subsidiary of General Electric Company ("GE").
The principal address of the Adviser is 3003 Summer Street, Stamford, CT 06905.
Through GEIM and General Electric Investment Corporation ("GEIC"), an
affiliated company of GEIM, wholly owned by GE, and their predecessors, GE has
more than 70 years of investment management experience. GEIM and GEIC
collectively provide investment management services to various institutional
accounts with total assets as of June 30, 1998 of approximately $69 billion, of
which approximately $1.7 billion was invested in money market funds.

Pursuant to the Investment Advisory Agreement, the Adviser has agreed to
provide a continuous investment program for the Fund, including investment
research and management with respect to the assets of the Fund. GEIM is
entitled to receive management fees of 0.04% on the first $500 million of
average net assets of the Fund, 0.06% on the next $500 million and 0.08% on
average net assets in excess of $1 billion. During the fiscal year ended April
30, 1999, the Fund paid the Adviser 0.04% of average net assets of the Fund in
advisory fees.

ADMINISTRATIVE SERVICES AGREEMENT

The Trustees have entered into an administrative services agreement with ALPS.
Under the administrative services agreement, ALPS provides the Fund with
certain administrative and clerical services, including, but not limited to:
preparing the Fund's semi-annual reports; coordinating the preparation of the
Fund's Federal and state tax returns; monitoring the Fund's compliance with its
investment restrictions and policies; and generally assisting in the operation
of the Fund. In addition, under the administrative services agreement ALPS
also, among other things, performs fund accounting and transfer agency
services, and pays the costs of the Fund's custodian and external auditors.
Pursuant to the administrative services agreement, ALPS is entitled to receive
a fee from the Fund that is computed daily and paid monthly at the following
annual rates: the greater of $360,000 or 0.16% of average daily net assets of
the Fund up to $500 million; 0.14% of average daily net assets of the Fund in
excess of $500 million up to $1 billion; and 0.12% of the average daily net
assets of the Fund that exceed $1 billion.

ALPS has contractually agreed to waive a portion of the administration fees
that it is entitled to receive from the Fund and to assume a portion of the
expenses of the Fund until at least April 30, 2000. More particularly, ALPS has
contractually agreed to waive a portion of the administration fees that it is
entitled to receive under the administrative services agreement with the Fund ,
and/or assume a portion of Fund expenses, to the extent necessary for the Fund
to maintain an expense ratio that does not exceed 0.22% of the average net
assets of the Fund. Currently, ALPS is waiving fees to the extent necessary to
limit the Fund's expense ratio to 0.20%.

During the fiscal year ended April 30, 1999, ALPS earned administration fees of
$367,491 before waiving fees of $88,651.

- --------------------------------------------------------------------------------
HOW DO I INVEST IN THE FUND?
- --------------------------------------------------------------------------------

HOW ARE INVESTMENTS MADE?

As described below, shares of the Fund may be purchased through ALPS. Shares of
the Fund may be purchased using the Federal Reserve Wire System ("Federal
Funds") or by check or money order. Your check or money order must be
payable in U.S. dollars to the Fund and be drawn on a bank located within the
U.S.

Federal Funds should be wired to:

[GRAPHIC] -------------------------------------------------------------------- 5
<PAGE>

State Street Bank & Trust Co.
ABA# 011000028
U.S. Government Money Market Fund
Credit DDA# 22404081
(Account Registration)
(Account Number)

An initial investment in the Fund must be preceded or accompanied by a
completed, signed application. Your completed application should be forwarded
to:
Financial Investors Trust
370 17th Street, Suite 3100
Denver, CO 80202

MINIMUM PURCHASE AND ACCOUNT BALANCE REQUIREMENTS

The minimum initial investment in the Fund is $500,000 and additional
investments may be made in any amount. The minimum purchase requirements do not
apply to reinvested dividends. If your account balance falls below $125,000 due
to redemptions or exchanges, your account may be closed. In the event that your
account is closed, the Fund will wire the proceeds to the bank account of
record, or issue a check to the shareholder of record. The Fund will notify you
when your account balance has fallen below $125,000 and you will be given 30
days to increase your investment above that amount.

HOW TO REDEEM FUND SHARES

You may redeem all or any part of the value of your account(s) on any day the
assets of the Fund are valued (a "Business Day"). You may redeem by mail,
telephone or facsimile if you have established those options with the Fund.
Redemption orders are processed at the net asset value per share next
determined after the Fund receives your order. If the Fund receives your
redemption order before 1:00 p.m. Eastern Time on a Business Day, the Fund will
generally pay for your redeemed shares on that day. Otherwise, the Fund
generally will pay for your redeemed shares on the next Business Day. The Fund
reserves the right to pay for redeemed shares within seven days after receiving
your redemption order if, in the judgment of the Adviser, an earlier payment
could adversely affect the Fund.

(i) state the number of shares to be redeemed; and
(ii) identify your shareholder account number.

EACH SIGNATURE MUST BE GUARANTEED BY EITHER A BANK THAT IS A MEMBER OF THE
FDIC, A TRUST COMPANY OR A MEMBER FIRM OF A NATIONAL SECURITIES EXCHANGE OR
OTHER ELIGIBLE GUARANTOR INSTITUTION. THE FUND WILL NOT ACCEPT GUARANTEES FROM
NOTARIES PUBLIC. Guarantees must be signed by an authorized person at the
guarantor institution, and the words "Signature Guaranteed" must appear with
the signature. A redemption request will not be deemed to be properly received
until the Fund receives all required documents in proper form.

6 --------------------------------------------------------------------[GRAPHIC]

<PAGE>

A check may not be used to close an account. Checkwriting is not available to
holders of shares in certificate form or if you are subject to Internal Revenue
Service backup withholding. It is also inadvisable for you to write a check for
an amount close to the total value of your account. The Trust reserves the
right to terminate or alter the checkwriting service at any time.

EXCHANGE OF FUND SHARES

You may sell your Fund shares and buy shares of the U.S. Government Money
Market Fund or the Prime Money Market Fund, other investment portfolios of the
Trust, in exchange by written request. There are no fees or commissions for
exchanging Fund shares. However, you must satisfy the minimum balance
requirements of each Fund that you are considering investing in. If you have
established the privilege on your Account Application, you may also initiate
exchanges by telephone or facsimile. Exchange requests should be directed to
the Fund at (800) 298-3442.

During periods of significant economic or market change, telephone or facsimile
exchanges may be difficult to complete. If you are unable to contact the Fund
by telephone or facsimile, you may also mail the exchange request to the Fund
at the address listed under "REGULAR REDEMPTIONS." Neither the Trust nor ALPS
will be responsible for the authenticity of exchange instructions received by
telephone or facsimile except as set forth under "HOW TO REDEEM FUND SHARES -
BY TELEPHONE AND FACSIMILE."

The Trust can provide you with information concerning certain limitations on
the exchange privilege, including those related to frequency. The Trust may
modify or terminate the exchange privilege but will not materially change or
terminate it without giving shareholders 60 days' written notice.

HOW ARE FUND SHARES VALUED?

[GRAPHIC] -------------------------------------------------------------------- 7
<PAGE>

The Trustees have established procedures designed to maintain a stable net
asset value of $1.00 per share, to the extent reasonably possible. More
particularly, the Trustees have approved and adopted procedures under Rule
2a-7. Under guidelines of Rule 2a-7, the Fund uses the amortized cost method
to value its portfolio securities. The amortized cost method involves valuing a
security at its cost and amortizing any discount or premium over the period of
maturity, regardless of the impact of fluctuating interest rates on the market
value of the security.

WHAT IS THE EFFECT OF FEDERAL INCOME TAX ON THIS INVESTMENT?

The Fund has qualified and intends to continue to qualify as a "regulated
investment company" under the Internal Revenue Code of 1986, as amended (the
"Code"). This qualification will relieve the Fund of liability for Federal
income taxes to the extent its earnings are distributed in accordance with the
Code and it meets other requirements for qualification as set forth in the Code.
The information above is only a summary of some of the federal tax consequences
generally affecting the Fund and its shareholders, and no attempt has been made
to discuss individual tax consequences. In addition to Federal taxes, investors
may be subject to state or local taxes on their investment. Investors should
consult their tax advisor to determine whether the Fund is suitable to their
particular tax situation.

8 --------------------------------------------------------------------[GRAPHIC]
<PAGE>

- -------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
- -------------------------------------------------------------------------------

FINANCIAL HIGHLIGHTS
Selected data for a share of beneficial
interest outstanding throughout the period indicated(1):
<TABLE>
<CAPTION>
For the Period Ended April 30,

1999 1998 1997 1996 1995 (2)
-------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Net asset value - beginning of period $1.00 $1.00 $9.97 $9.97 $10.00
- -----------------------------------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS
Net investment income 0.05 0.05 0.14 0.55 0.44
Net realized and unrealized gain(loss)
on investments 0.00 0.00 0.00 0.00 (0.03)
- -----------------------------------------------------------------------------------------------------------------------------------

Total Income from investment operations 0.05 0.05 0.14 0.55 0.41
- -----------------------------------------------------------------------------------------------------------------------------------
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS
Dividends from net investment income (0.05) (0.05) (0.14) (0.55) (0.44)
Stock Split (Note 3) 0.00 0.00 (8.97) 0.00 0.00
- -----------------------------------------------------------------------------------------------------------------------------------

Total dividends and distributions to
shareholders (0.05) (0.05) (9.11) (0.55) (0.44)
- -----------------------------------------------------------------------------------------------------------------------------------

Net asset value - end of period $1.00 $1.00 $1.00 $9.97 $9.97
- -----------------------------------------------------------------------------------------------------------------------------------

Total return 5.16% 5.48% 5.23% 5.65% 4.73%(3)
- -----------------------------------------------------------------------------------------------------------------------------------

RATIOS/SUPPLEMENTAL DATA:

Net assets, end of period (000) $352,333 $150,222 $87,416 $31,082 $41,893
- -----------------------------------------------------------------------------------------------------------------------------------

Ratio of expenses to average net assets 0.20% 0.20% 0.23% 0.60% 0.45%(3)
- -----------------------------------------------------------------------------------------------------------------------------------
Ratio of net investment income to
average net assets 5.01% 5.35% 5.13% 5.38% 5.23%(3)
- -----------------------------------------------------------------------------------------------------------------------------------
Ratio of expenses to average net assets
without fee waivers 0.24% 0.31% 0.39% 0.85% 0.65%(3)
- -----------------------------------------------------------------------------------------------------------------------------------
Ratio of net investment income to
average net assets without fee waivers 4.96% 5.24% 4.97% 5.12% 5.03%(3)
- -----------------------------------------------------------------------------------------------------------------------------------
</TABLE>

(1) The financial highlights prior to July 10, 1996 reflect the operations of
the Fund as the Short-Term U.S. Government Income Fund when it was not a
money market fund and had different investment policies and expenses, and a
fluctuating net asset value not maintained at $1.00 per share. The Fund
changed to a money market fund on July 10, 1996 following a Special Meeting
of the Fund's shareholders on June 27, 1996. The financial highlights
prior to March 24, 1997 also reflect the operations of the Fund while the
Fund's investment adviser was FGIC Advisors, Inc. GEIM was approved as the
Fund's investment adviser at a Special Meeting of the shareholders of the
Fund on March 21, 1997.
(2) Operations commenced on June 7, 1994.
(3) Annualized

[GRAPHIC] --------------------------------------------------------------------9
<PAGE>

THIS PAGE
INTENTIONALLY
LEFT BLANK

[GRAPHIC] -------------------------------------------------------------------10
<PAGE>

THIS PAGE
INTENTIONALLY
LEFT BLANK

11 -------------------------------------------------------------------[GRAPHIC]
<PAGE>

ADDITIONAL INFORMATION ABOUT THE FUND

If you would like more information about the Fund, the following documents
are available free upon request:

STATEMENT OF ADDITIONAL INFORMATION (SAI)

The SEC also maintains a Web site located at http:/www.sec.gov that contains
the SAI, material incorporated herein by reference, and other information
regarding the Fund. For more information about the operation of the Public
Reference Room, please call the SEC at 1-800-SEC-0330.

ANNUAL AND SEMI-ANNUAL REPORTS

---------------------------------
---------------------------------
FINANCIAL INVESTORS TRUST
FUNDS
GE INVESTMENTS
- ----------------------------------- - Are NOT insured by the FDIC, a
THE INVESTMENT MANAGEMENT ARM OF GE bank or any agency of the U.S.
INVESTMENT ADVISOR Government.
- Are NOT bank deposits or
other obligations of or
ALPS guaranteed by a bank.
- --------------------------- - Involve investment risks,
MUTUAL FUNDS SERVICES including the possible loss of
the principal amount invested.
Sponsor and Distributor ---------------------------------
---------------------------------

Investment Company Act File No. 811-08194

<PAGE>

[GRAPHIC] FINANCIAL
INVESTORS
TRUST

-------------------------------------------------
PRIME MONEY MARKET FUND
CLASS I
-------------------------------------------------

PROSPECTUS
AUGUST 27, 1999

GE INVESTMENTS
--------------
THE INVESTMENT MANAGEMENT ARM OF GE
INVESTMENT ADVISOR

AS WITH OTHER MUTUAL FUNDS, THE SECURITIES AND EXCHANGE
COMMISSION HAS NOT APPROVED OR DISAPPROVED THIS FUND'S SHARES
OR DETERMINED WHETHER THE INFORMATION IN THIS PROSPECTUS IS
ACCURATE OR COMPLETE. ANYONE WHO TELLS YOU OTHERWISE IS
COMMITTING A CRIME.

<PAGE>

...............................................................................
TABLE OF CONTENTS
Page
----
Investment Objective and Primary Risks.......................................1

Performance..................................................................2

Fees and Expenses of the Fund................................................2

Investment Details...........................................................3

Who Manages the Fund?........................................................4

How Do I Invest in the Fund?.................................................5

Financial Highlights.........................................................8

Appendix...............................;...................................A-1

Additional Information about the Fund...............................Back Cover
...............................................................................

<PAGE>

...............................................................................
INVESTMENT OBJECTIVE AND PRIMARY RISKS
...............................................................................

INVESTMENT OBJECTIVE -- The investment objective of the Prime Money Market Fund
(the "Fund") is to seek as high a level of current income as is consistent with
preservation of capital and liquidity.

PRINCIPAL INVESTMENT STRATEGIES -- In seeking to achieve its investment
objective, the Fund's investments include, but are not limited to, the following
U.S. dollar denominated, short-term money market instruments: (1) U.S.
Government Obligations, including stripped U.S. Government Obligations; (2) debt
obligations of corporations, banks, savings and loan institutions, insurance
companies and mortgage bankers; (3) commercial paper, including those with
floating or variable rates of interest; (4) foreign bank obligations; (5)
repurchase agreements; and (6) asset-backed or mortgage-related securities. In
any event, however, the Fund only will invest in those securities that the
Adviser, under the direction of the Board of Trustees of Financial Investors
Trust (the "Board"), determines present minimal credit risk and that the Adviser
determines are "eligible securities." Eligible securities are those securities
that are rated in one of the two highest categories by a National Recognized
Statistical Rating Organization ("NRSRO") or, if the security is unrated, the
Adviser has determined that the security is comparable to similarly rated
securities. Only these types of securities are considered "prime" by the
Adviser. The Fund's average weighted maturity will not exceed 90 days, and its
yield will fluctuate with changes in short-term interest rates. Also, the
securities held by the Fund will, at the time of purchase, have remaining
maturities of 13 months or less.

FUND FACTS

GOAL: To provide investors with a high level of current
income while seeking to preserve principal.

PRINCIPAL INVESTMENTS:
- U.S. Government Obligations
- Corporate Debt Obligations
- Commercial Paper
- Foreign Bank Obligations
- Asset-Backed and Mortgage-Related
Securities

INVESTMENT ADVISER (THE "ADVISER"):
- General Electric Investment Management,
Inc. ("GEIM")

DISTRIBUTOR:
- ALPS Mutual Funds Services, Inc. ("ALPS")

PRINCIPAL INVESTMENT RISKS -- An investment in the Fund is subject to many
risks, including:

- - INTEREST RATE RISK. When interest rates change, the value of the Fund's
holdings will be affected. An increase in interest rates tends to reduce the
market value of debt securities.

SHOULD I INVEST IN THE PRIME MONEY MARKET FUND?

The Class I shares of the Fund primarily are intended for municipal
investors, including municipalities, counties, and state agencies, as well
as institutional investors such as broker/dealers, corporations, investment
advisers, credit unions, banks, and other financial institutions. Certain
high net worth individuals that can meet the $1,000,000 minimum investment
threshold also may invest in the Fund.

[GRAPHIC] -------------------------------------------------------------------- 1

<PAGE>

- --------------------------------------------------------------------------------
PERFORMANCE
- --------------------------------------------------------------------------------

Because the Fund commenced operations in December of 1998, historical
performance is not yet presented for the Fund. Performance history
will be presented for the Fund after it has been in operation for one
calendar year. The year-to-date return for Class I of the Fund for
the period ended June 30, 1999 was 2.32%.

- --------------------------------------------------------------------------------
FEES AND EXPENSES OF THE FUND
- --------------------------------------------------------------------------------
This table describes the fees and expenses that you pay if you buy and
hold shares of the Fund.

Maximum Deferred Sales Charge None

Redemption None

Exchange None
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------

ANNUAL FUND OPERATING EXPENSES
(paid from Fund assets)

--------------------------------------------------
<S> <C>
Management Fees 0.04%
--------------------------------------------------
Distribution (12b-1) Fees None
--------------------------------------------------
Other Expenses 0.62%
--------------------------------------------------
Total Annual Fund Operating Expenses 0.66%
--------------------------------------------------
Fee Waiver (0.44)%*
--------------------------------------------------
Net Annual Fund Operating Expenses 0.22%
--------------------------------------------------
</TABLE>
* The amount for "Other Expenses" includes
administration fees payable to ALPS. ALPS has
contractually agreed to waive a portion of the
administration fees that it is entitled to
receive, and/or assume a portion of Fund expenses,
until at least April 30, 2000. As a result, Net
Annual Fund Operating Expenses for the Fund will
be no more than 0.22% for that period. Currently,
ALPS is waiving fees to the extent necessary to
limit Net Annual Fund Operating Expenses to 0.20%.
You will be notified if these waivers are
discounted after April 30, 2000 resulting in a material
change to the expense ratio.
--------------------------------------------------

EXAMPLE -- The following example is intended to help you compare the cost of
investing in the Fund with the cost of investing in other mutual funds. The
example assumes that you invest $10,000 in the Fund for the time periods
indicated and that the Fund returns 5% each year. After one year, the example
does not take into consideration ALPS' agreement to waive fees. Although your
actual costs may be higher or lower, based on these assumptions your costs would
be:

<TABLE>
<CAPTION>
ONE THREE
YEAR YEARS
<S> <C> <C>
- --------------------------------------------------------------------------------
PRIME MONEY MARKET FUND $23 $167
</TABLE>

2 -------------------------------------------------------------------- [GRAPHIC]

<PAGE>

- --------------------------------------------------------------------------------
INVESTMENT DETAILS
- --------------------------------------------------------------------------------

INVESTMENT OBJECTIVE -- The investment objective of the Fund is to seek as high
a level of current income as is consistent with preservation of capital and
liquidity.

PRINCIPAL INVESTMENT STRATEGIES -- In seeking to achieve its investment
objective, the Fund's investments include, but are not limited to, the following
U.S. dollar denominated, short-term money market instruments: (1) U.S.
Government Obligations, including stripped U.S. Government Obligations; (2) debt
obligations of corporations, banks, savings and loan institutions, insurance
companies and mortgage bankers; (3) commercial paper, including those with
floating or variable rates of interest; (4) foreign bank obligations; (5)
repurchase agreements; and (6) asset-backed or mortgage-related securities. In
any event, however, the Fund only will invest in those securities that the
Adviser, under the direction of the Board of Trustees of Financial Investors
Trust (the "Board"), determine present minimal credit risk and that the Advisers
determines are "eligible securities." Eligible securities are those securities
that are rated in one of the two highest categories by a National Recognized
Statistical Rating Organization ("NRSRO") or, if the security is unrated, the
Adviser has determined that the security is comparable to similarly rated
securities.

In selecting securities for the Fund, the Adviser examines the yields on various
types and maturities of money market securities against the Adviser's outlook
for interest rates. For example, mortgage related securities often offer a yield
advantage over Treasury bills. And if rates are expected to fall,
longer-maturities may be purchased, which typically have higher yields than
shorter maturities, to try to preserve the Fund's income level. Conversely,
shorter maturities may be favored if rates are expected to rise. The Fund's
average weighted maturity will not exceed 90 days, and its yield will fluctuate
with changes in short-term interest rates. Also, the securities held by the Fund
will, at the time of purchase, have remaining maturities of 13 months or less.

PRINCIPAL INVESTMENT RISKS -- An investment in the Fund is subject to many
risks, including:

DESCRIPTION OF PRINCIPAL SECURITY TYPES - The Fund invests exclusively in the
following types of securities:

- - U.S. GOVERNMENT OBLIGATIONS: U.S. government obligations are debt obligations
issued or guaranteed by the U.S. Treasury or by an agency or instrumentality of
the U.S. government. Not all U.S. government obligations are backed by the full
faith and credit of the United States. For example, obligations issued by the
Federal Farm Credit Bank or by the Federal National Mortgage Association are
supported by the agency's right to borrow money from the U.S. Treasury under
certain circumstances. There is no guarantee that the government will support
these obligations if it is not required to do so, and, therefore, they involve
more risk than other government obligations.

- - BANKER'S ACCEPTANCES: Bank issued commitments to pay for merchandise sold in
the import/export market.

- - CORPORATE DEBT OBLIGATIONS: Corporate debt obligations include bonds, notes,
debentures, and other obligations of corporate entities to pay interest and
repay principal.

- - COMMERCIAL PAPER: Unsecured promissory notes that corporations typically issue
to finance current operations and other expenditures.

[GRAPHIC] -------------------------------------------------------------------- 3
<PAGE>

- - ASSET-BACKED SECURITIES: Asset-backed securities are securities whose
principal and interest payments are collateralized by pools of assets such as
auto loans, credit card receivables, leases, installment contracts and personal
property. Such asset pools are securitized through the use of special purpose
trusts or corporations. Principal and interest payments may be credit enhanced
by a letter of credit, a pool insurance policy or a senior/subordinated
structure.

- - MORTGAGE-RELATED SECURITIES: Mortgage related securities or mortgage-backed
securities represent direct or indirect participations in, or are collateralized
by and payable from, mortgage loans secured by real property. Mortgage-backed
securities can be backed by either fixed rate mortgage loans or adjustable rate
mortgage loans, and may be issued by either a governmental or non-governmental
entity. Typically, mortgage-backed securities issued by private entities do not
have the same credit standing as mortgage-backed securities issued or guaranteed
by the U.S. Government.

- - FOREIGN BANK OBLIGATIONS: U.S. Dollar denominated obligations of United States
branches of foreign banks which at the time of investment (i) have more than $10
billion, or the equivalent in other currencies, in total assets; and (ii) in the
opinion of the Adviser are of comparable quality to similar obligations of U.S.
banks.

The Statement of Additional Information ("SAI") contains additional information
about the risks associated with investing in the Fund.

YEAR 2000 RISK -- The Fund could be adversely affected if the computer
systems used by the Fund and the Fund's other service providers do not
properly process and calculate date-related information on or after January
1, 2000. We are working to avoid Year 2000-related problems in our systems
and to obtain assurances from other service providers that they are taking
similar steps. In addition, issuers of securities in which the Fund invests
may be adversely affected by Year 2000-related problems. This could have an
impact on the value of the Fund's investments and the Fund's share price.

- --------------------------------------------------------------------------------
WHO MANAGES THE FUND?
- --------------------------------------------------------------------------------

The Adviser is a wholly-owned subsidiary of General Electric Company ("GE").
The principal address of the Adviser is 3003 Summer Street, Stamford, CT
06905. Through GEIM and General Electric Investment Corporation ("GEIC"), an
affiliated company of GEIM, wholly owned by GE, and their predecessors, GE
has more than 70 years of investment management experience. GEIM and GEIC
collectively provide investment management services to various institutional
accounts with total assets as of June 30, 1998 of approximately $69 billion,
of which approximately $1.7 billion was invested in money market funds.

Pursuant to the Investment Advisory Agreement, the Adviser has agreed to
provide a continuous investment program for the Fund, including investment
research and management with respect to the assets of the Fund. GEIM is
entitled to receive management fees of 0.04% on the first $500 million of
average net assets of the Fund, 0.06% on the next $500 million and 0.08% on
average net assets in excess of $1 billion. During the fiscal year ended
April 30, 1999, the Fund paid the Adviser 0.04% of average net assets of the
Fund in advisory fees.

ADMINISTRATIVE SERVICES AGREEMENT

The Trustees have entered into an administrative services agreement with ALPS.
Under the administrative services agreement, ALPS provides the Fund with certain
administrative and clerical services, including, but not limited to: preparing
the Fund's semi-annual reports; coordinating the preparation of the Fund's
Federal and state tax returns; monitoring the Fund's compliance with its
investment restrictions and policies; and generally assisting in the operation
of the Fund. In addition, under the administrative services agreement ALPS also,
among other things, performs fund accounting and transfer agency services, and
pays the costs of the Fund's custodian and external auditors. Pursuant to the
administrative services agreement, ALPS is entitled to receive a fee from the
Fund that is computed daily and paid monthly at the following annual rates: the
greater of $360,000 or 0.16% of average daily net assets of the Fund up to $500
million; 0.14% of average daily net assets of the Fund in excess of $500 million
up to $1 billion; and 0.12% of the average daily net assets of the Fund that
exceed $1 billion.

4 -------------------------------------------------------------------- [GRAPHIC]

<PAGE>

ALPS has contractually agreed to waive a portion of the administration fees that
it is entitled to receive from the Fund and to assume a portion of the expenses
of the Fund until at least April 30, 2000. More particularly, ALPS has
contractually agreed to waive a portion of the administration fees that it is
entitled to receive under the administrative services agreement with the Fund ,
and/or assume a portion of Fund expenses, to the extent necessary for the Fund
to maintain an expense ratio that does not exceed 0.22% of the average net
assets of the Fund. Currently, ALPS is waiving fees to the extent necessary to
limit the Fund's expense ratio for Class I to 0.20%.

During the fiscal period ended April 30, 1999, ALPS earned administration fees
of $142,027 before waiving fees of $118,340.

- --------------------------------------------------------------------------------
HOW DO I INVEST IN THE FUND?
- --------------------------------------------------------------------------------

HOW ARE INVESTMENTS MADE?

Federal Funds should be wired to:

State Street Bank & Trust Co.
ABA# 011000028
Prime Money Market Fund
Credit DDA# 22404081
(Account Registration)
(Account Number)

Orders for the purchase of shares will be executed at the net asset value per
share next determined after an order has been received in good form. All
funds received are invested in full and fractional shares of the Fund. ALPS
serves as the Fund's Transfer Agent and ALPS maintains records of each
shareholder's holdings of Fund shares. Financial Investors Trust (the
"Trust") reserves the right to reject any purchase.

An initial investment in the Fund must be preceded or accompanied by a
completed, signed application. Your completed application should be forwarded
to:

Financial Investors Trust
370 17th Street, Suite 3100
Denver, CO 80202

Orders for the purchase of shares will be executed at the
net asset value per share (the "public offering price") next determined after an
order has been received by the Fund in the proper form. If your purchase order
is received in proper order by the Fund by 5:00 p.m. Eastern Time, your order
will be executed that day.

MINIMUM PURCHASE AND ACCOUNT BALANCE REQUIREMENTS

The minimum initial investment in the Fund is $500,000 and additional
investments may be made in any amount. The minimum purchase requirements do
not apply to reinvested dividends. If your account balance falls below
$125,000 due to redemptions or exchanges, your account may be closed. In the
event that your account is closed, the Fund will wire the proceeds to the
bank account of record, or issue a check to the shareholder of record. The
Fund will notify you when your account balance has fallen below $125,000 and
you will be given 30 days to increase your investment above that amount.

HOW TO REDEEM FUND SHARES

You may redeem all or any part of the value of your account(s) on any day the
assets of the Fund are valued (a "Business Day"). You may redeem by mail,
telephone or facsimile if you have established those options with the Fund.
Redemption orders are processed at the net asset value per share next
determined after the Fund receives your order. If the Fund receives your
redemption order before 1:00 p.m. Eastern Time on a Business Day, the Fund
will generally pay for your redeemed shares on that day. Otherwise, the Fund
generally will pay for your redeemed shares on the next Business Day. The
Fund reserves the right to pay for redeemed shares within seven days after
receiving your redemption order if, in the judgment of the Adviser, an
earlier payment could adversely affect the Fund.

REGULAR REDEMPTIONS: You may redeem shares by sending a written request
to Financial Investors Trust, 370 17th Street, Suite 3100, Denver, CO 80202. You
must sign a redemption request. Your written redemption request must:

(i) state the number of shares to be redeemed; and
(ii) identify your shareholder account number.

[GRAPHIC] -------------------------------------------------------------------- 5
<PAGE>

FROM NOTARIES PUBLIC. Guarantees must be signed by an authorized person at
the guarantor institution, and the words "Signature Guaranteed" must appear
with the signature. A redemption request will not be deemed to be properly
received until the Fund receives all required documents in proper form.

When the Fund wires your redemption proceeds, the wire must be paid to the
same bank and account as designated on the Fund's Account Application or in
your written instructions to the Fund. If your bank is not a member of the
Federal Reserve System, your redemption proceeds will be wired to a
correspondent bank. Immediate notification by the correspondent bank to your
bank will be necessary to avoid a delay in crediting the funds to your bank
account.

BY TELEPHONE AND FACSIMILE: You may redeem shares by telephone or facsimile.
Shareholders must check the appropriate box on the Account Application to
activate facsimile and/or telephone redemption privileges. Shares may be
redeemed by telephoning the Fund at (800) 298-3442 (or sending a facsimile
transmission to the Fund at (303) 825-2575 and giving the account name,
account number, Personal Identification Number (PIN#), name of Fund and
amount of redemption). Proceeds from redemptions will be wired directly to
your account at a commercial bank within the United States.

In order to arrange for facsimile and/or telephone redemptions after you have
opened your account, or to change the bank account or address designated to
receive redemption proceeds, send a written request to the Fund at the
address listed under "REGULAR REDEMPTIONS." The request must be signed by you
with the signatures guaranteed as described above. The Trust may modify or
terminate procedures for redeeming shares by telephone but will not
materially change or terminate it without giving shareholders 60 days'
written notice.

During periods of substantial economic or market change, telephone or
facsimile redemptions may be difficult to complete. If you are unable to
contact the Fund by telephone or facsimile, you may redeem your shares by
mail as described above under "REGULAR REDEMPTIONS."

By electing the facsimile and/or telephone redemption option, you may be
giving up a measure of security which you might have had if you were to
redeem in writing. The Trust will employ reasonable procedures to confirm
that instructions communicated by telephone or facsimile are genuine, such as
recording telephone calls, providing written confirmation of transactions, or
requiring a form of personal identification prior to acting on instructions
received by telephone or facsimile. To the extent the Trust does not employ
reasonable procedures, it and/or its service contractors may be liable for
any losses due to unauthorized or fraudulent instructions. Neither the Trust
nor ALPS will be liable for following instructions communicated by telephone
or facsimile that are reasonably believed to be genuine. Accordingly, you, as
a result of this policy, may bear the risk of fraudulent telephone or
facsimile redemption transactions.

CHECK REDEMPTION: You may write an unlimited number of checks drawn on your
account by either requesting the privilege on your account application or by
sending a written request to the Fund. In order to establish the checkwriting
option, you must manually sign a signature card that includes all authorized
individuals. Checks will be sent only to the registered owner(s) of the
account and only to the address of record. Checks may be made payable to the
order of any person. When a check is presented to the Transfer Agent for
payment, the Transfer Agent, as your agent, will cause the Fund to redeem a
sufficient number of your Fund shares to cover the amount of the check.
Shares earn dividends through the day the redemption is processed. There is
no charge to you for the use of the checks; however, the Transfer Agent will
impose a charge for stopping payment of a check upon your request, or if the
Transfer Agent cannot honor a check due to insufficient funds or other valid
reasons. A request to reverse a stop payment order must be received in
writing.

Checks may not be written to redeem shares purchased by check until the date
that good funds are credited to the Fund's custodian by its correspondent
bank. If the amount of the check is greater than the value of the shares in
your account, the check will be returned marked "Insufficient Funds." Checks
written on amounts subject to the hold described above will be returned
marked "Uncollected." If your check does not clear, you will be responsible
for any loss the Fund, Custodian, or Transfer Agent may incur.

EXCHANGE OF FUND SHARES

You may sell your Fund shares and buy shares of the U.S. Government Money
Market Fund or the Prime Money Market Fund, other investment portfolios of
the Trust, in exchange by written request. There are no fees or commissions
for exchanging Fund shares. However, you must satisfy the minimum balance
requirements of each Fund that you are considering investing in. If you have
established the privilege on your Account Application, you may also initiate
exchanges by telephone or facsimile. Exchange requests should be directed to
the Fund at (800) 298-3442.

6 -------------------------------------------------------------------- [GRAPHIC]
<PAGE>

Exchange transactions must be for amounts of $1,000 or more. Exchanges may
have tax consequences, so you should consult your tax adviser for further
information. The Fund into which you want to exchange must be registered for
sale in your state. Prior to requesting an exchange of Fund shares you should
call the Fund at (800) 298-3442 to request a current prospectus for the Fund
which you want to exchange and you should read the prospectus carefully
before investing.

During periods of significant economic or market change, telephone or
facsimile exchanges may be difficult to complete. If you are unable to
contact the Fund by telephone or facsimile, you may also mail the exchange
request to the Fund at the address listed under "REGULAR REDEMPTIONS."
Neither the Trust nor ALPS will be responsible for the authenticity of
exchange instructions received by telephone or facsimile except as set forth
under "HOW TO REDEEM FUND SHARES - BY TELEPHONE AND FACSIMILE."

The Trust can provide you with information concerning certain limitations on
the exchange privilege, including those related to frequency. The Trust may
modify or terminate the exchange privilege but will not materially change or
terminate it without giving shareholders 60 days' written notice.

HOW ARE FUND SHARES VALUED?

The price at which you buy, sell or exchange Fund shares is the share price
or net asset value (NAV). The share price for each Class of shares of the
Fund is determined by adding the value of each Class' proportional share of
the Fund's investments, cash and other assets, deducting each Class'
proportional share of liabilities, and then dividing that value by the total
number of the shares outstanding in that Class. The Fund normally calculates
its NAV at 5:00 p.m. Eastern Time.

The Trustees have established procedures designed to maintain a stable net
asset value of $1.00 per share, to the extent reasonably possible. More
particularly, the Trustees have approved and adopted procedures under Rule
2a-7. Under guidelines of Rule 2a-7, the Fund uses the amortized cost method
to value its portfolio securities. The amortized cost method involves valuing
a security at its cost and amortizing any discount or premium over the period
of maturity, regardless of the impact of fluctuating interest rates on the
market value of the security.

WHAT IS THE EFFECT OF FEDERAL INCOME TAX ON THIS INVESTMENT?

While municipal investors are generally exempt from Federal income taxes,
each investor should independently ascertain its tax status. With respect to
investors who are not exempt from Federal income taxes, dividends derived
from net investment income and short term capital gains are taxable as
ordinary income distributions and are taxable when paid, whether investors
receive distributions in cash or reinvest them in additional shares, except
that distributions declared in December and paid in January are taxable as if
paid on December 31. The Fund will send to non-exempt investors an IRS Form
1099-DIV showing their taxable distributions for the past calendar year.

The information above is only a summary of some of the federal tax
consequences generally affecting the Fund and its shareholders, and no
attempt has been made to discuss individual tax consequences. In addition to
Federal taxes, investors may be subject to state or local taxes on their
investment. Investors should consult their tax advisor to determine whether
the Fund is suitable to their particular tax situation.

When investors sign their account application, they will be asked to certify
that their social security or taxpayer identification number is correct and
that they are not subject to 31% backup withholding for failing to report
income to the IRS. If investors violate IRS regulations, the IRS can require
the Fund to withhold 31% of taxable distributions and redemptions.

The Fund declares dividends from net investment income daily and pays such
dividends monthly. The Fund intends to distribute substantially all of its
net investment income and capital gains, if any, to shareholders each
calendar year as well as on a fiscal year basis.

Since all of the Fund's net investment income is expected to be derived from
earned interest, it is anticipated that all dividends paid by the Fund will
be taxable as ordinary income to those shareholders who are not exempt from
Federal income taxes, and that no part of any distribution will be eligible
for the dividends received deduction for corporations.

[GRAPHIC] -------------------------------------------------------------------- 7
<PAGE>

- --------------------------------------------------------------------------------
FINANCIAL HIGHLIGHTS
- --------------------------------------------------------------------------------

FINANCIAL HIGHLIGHTS
Selected data for a share of beneficial
interest outstanding throughout the period indicated(1):
<TABLE>
<CAPTION>
For the Period
December 10, 1998 to April 30, 1999
----------------------------------------------------------
Class I
----------------------------------------------------------
<S> <C>
Net asset value - beginning of period $1.00
- --------------------------------------------------------------------------------------------------------
INCOME FROM INVESTMENT OPERATIONS
Net investment income 0.02
- --------------------------------------------------------------------------------------------------------
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS
Dividends from net investment income (0.02)
- --------------------------------------------------------------------------------------------------------

Net asset value - end of period $1.00
- --------------------------------------------------------------------------------------------------------

Total return 4.82%(2)
- --------------------------------------------------------------------------------------------------------

RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (000) $167,257
- --------------------------------------------------------------------------------------------------------

Ratio of expenses to average net assets 0.20%(2)
- --------------------------------------------------------------------------------------------------------
Ratio of net investment income to
average net assets 4.71%(2)
- --------------------------------------------------------------------------------------------------------
Ratio of expenses to average net assets
without fee waivers 0.66%(2)
- --------------------------------------------------------------------------------------------------------
Ratio of net investment income to
average net assets without fee waivers 4.25%(2)
- --------------------------------------------------------------------------------------------------------
</TABLE>

(1) Class I commenced operations on December 10, 1998.
(2) Annualized.

8 -------------------------------------------------------------------- [GRAPHIC]
<PAGE>

- --------------------------------------------------------------------------------
APPENDIX
- --------------------------------------------------------------------------------

ADDITIONAL, NON PRINCIPAL, INFORMATION ABOUT THE FUND'S INVESTMENTS

The following information provides a brief description of the
securities in which the Fund may invest and the transactions it may make. The
Fund is not limited by this discussion, however, and may purchase other types of
securities and may enter into other types of transactions if they are consistent
with the Fund's investment objective and policies.

DELAYED-DELIVERY AND WHEN-ISSUED TRANSACTIONS. The Fund may buy and sell
obligations on a when-issued or delayed delivery basis, with payment and
delivery taking place at a future date. The market value of obligations
purchased in this way may change before the delivery date, which could
increase fluctuations in the Fund's share price, yield, and return.
Ordinarily, the Fund will not earn interest on obligations until they are
delivered.

DEMAND FEATURES AND STAND-BY COMMITMENTS. A demand feature is a put that
entitles the security holder to repayment of the principal amount of the
underlying security at any time or at specified intervals. A standby
commitment is a put that entitles the security holder to same-day settlement
at amortized cost plus accrued interest.

ILLIQUID INVESTMENTS. Under guidelines established by the Trustees, the
Adviser determines the liquidity of the Fund's investments. The absence of a
trading market can make it difficult to ascertain a market value for illiquid
investments. Disposing of illiquid investments may involve time-consuming
negotiation and legal expense, and it may be difficult or impossible for the
Fund to sell them promptly at an acceptable price. The Fund may invest up to
10% of its assets in illiquid investments and private placement.

REFUNDING CONTRACTS. The Fund may purchase securities on a when-issued basis
in connection with the refinancing of an issuer's outstanding indebtedness.
Refunding contracts require the issuer to sell and the Fund to buy refunded
municipal obligations at a stated price and yield on a settlement date that
may be several months or several years in the future. Although the Fund may
sell its rights under a refunding contract, these contracts are relatively
new and the secondary market for them may be less liquid than the secondary
market for other types of municipal securities.

STRIPPED U.S. GOVERNMENT OBLIGATIONS. Stripped securities are created by
separating the income and principal components of a debt instrument and selling
them separately. The Fund may purchase U.S. Treasury STRIPS (Separate Trading of
Registered Interest and Principal of Securities) that are created when the
coupon payments and the principal payments are stripped from an outstanding
Treasury bond by the Federal Reserve Bank. Bonds issued by the Resolution
Funding Corporation (REFCORP) can also be stripped in this fashion. REFCORP
STRIPS are eligible investments for the Fund.

The Fund also may purchase privately stripped government securities, which are
created when a dealer deposits a Treasury security or federal agency security
with a custodian for safekeeping and then sells the coupon payments and
principal payments that will be generated by this security. Proprietary
receipts, such as Certificates of Accrual on Treasury Securities (CATS),
Treasury Investment Growth Receipts (TIGRs), and generic Treasury Receipts
(TRs), are stripped U.S. Treasury securities that are separated into their
component parts through trusts created by their broker sponsors. Bonds issued
by the Financing Corporation (FICO) can also be stripped in this fashion.

U.S. TREASURY OBLIGATIONS. U.S. Treasury obligations are obligations issued by
the United States and backed by its full faith and credit.

VARIABLE AND FLOATING RATE INSTRUMENTS. Variable and floating rate instruments,
including certain participation interests in municipal obligations, have
interest rate adjustment formulas that help to stabilize their market values.
Many variable or floating rate instruments also carry demand features that
permit the Fund to sell them at par value plus accrued interest on short notice.

ZERO COUPON BOND. The Fund may invest in zero coupon securities. Zero coupon
bonds purchased by the Fund do not make regular interest payments; instead they
are sold at a deep discount from their face value and are redeemed at face value
when they mature. Because zero coupon bonds do not pay current income, their
prices can be very volatile when interest rates change. In calculating its daily
dividend, the Fund takes into account as income a portion of the difference
between a zero coupon bond's purchase price and its face value. The market
prices of zero coupon securities generally are more volatile than the market
prices of securities that pay interest periodically and are more sensitive to
changes in interest rates than non-zero coupon securities having similar
maturities and credit qualities.

[GRAPHIC] ----------------------------------------------------------------- A-1

<PAGE>

- -------------------------------------------------------------------------------
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INTENTIONALLY
LEFT BLANK
- -------------------------------------------------------------------------------

10 ------------------------------------------------------------------- [GRAPHIC]
<PAGE>

- -------------------------------------------------------------------------------
THIS PAGE
INTENTIONALLY
LEFT BLANK
- -------------------------------------------------------------------------------

[GRAPHIC] ------------------------------------------------------------------ 11

<PAGE>

ADDITIONAL INFORMATION ABOUT THE FUND

If you would like more information about the Fund, the following documents
are available free upon request:

STATEMENT OF ADDITIONAL INFORMATION (SAI)

ANNUAL AND SEMI-ANNUAL REPORTS

---------------------------------
---------------------------------
FINANCIAL INVESTORS TRUST
FUNDS
GE INVESTMENTS
- ----------------------------------- - Are NOT insured by the FDIC, a
THE INVESTMENT MANAGEMENT ARM OF GE bank or any agency of the U.S.
INVESTMENT ADVISOR Government.
- Are NOT bank deposits or
other obligations of or
[LOGO] guaranteed by a bank.
- Involve investment risks,
including the possible loss of
the principal amount invested.
SPONSOR AND DISTRIBUTOR ---------------------------------
---------------------------------

Investment Company Act File No. 811-08194
<PAGE>

[GRAPHIC] FINANCIAL
INVESTORS
TRUST

-------------------------------------------------
PRIME MONEY MARKET FUND
CLASS II
-------------------------------------------------

PROSPECTUS
AUGUST 27, 1999

GE INVESTMENTS
--------------
THE INVESTMENT MANAGEMENT ARM OF GE
INVESTMENT ADVISOR

<PAGE>

- -------------------------------------------------------------------------------
TABLE OF CONTENTS
Page
----
Investment Objective and Primary Risks.......................................1

Performance..................................................................2

Fees and Expenses of the Fund................................................2

Investment Details...........................................................3

Who Manages the Fund?........................................................4

How Do I Invest in the Fund?.................................................5

Distribution Plan............................................................8

Financial Highlights.........................................................8

Appendix...................................................................A-1

Additional Information about the Fund...............................Back Cover

- -------------------------------------------------------------------------------

<PAGE>

...............................................................................
INVESTMENT OBJECTIVE AND PRIMARY RISKS
...............................................................................

INVESTMENT OBJECTIVE -- The investment objective of the Prime Money Market Fund
(the "Fund") is to seek as high a level of current income as is consistent with
preservation of capital and liquidity.

FUND FACTS

GOAL: To provide investors with a high level of current
income while seeking to preserve principal.

PRINCIPAL INVESTMENTS:
- U.S. Government Obligations
- Corporate Debt Obligations
- Commercial Paper
- Foreign Bank Obligations
- Asset-Backed and Mortgage-Related
Securities

INVESTMENT ADVISER (THE "ADVISER"):
- General Electric Investment Management,
Inc. ("GEIM")

DISTRIBUTOR:
- ALPS Mutual Funds Services, Inc. ("ALPS")

PRINCIPAL INVESTMENT RISKS -- An investment in the Fund is subject to many
risks, including:

- - INTEREST RATE RISK. When interest rates change, the value of the Fund's
holdings will be affected. An increase in interest rates tends to reduce the
market value of debt securities.

SHOULD I INVEST IN THE PRIME MONEY MARKET FUND?

The Class II shares of the Fund primarily are intended for investors, such
as broker/dealers, corporations, investment advisers, credit unions,
banks, and other financial institutions and certain individuals that can
meet the minimum investment threshold of the Fund.

[GRAPHIC] -------------------------------------------------------------------- 1

<PAGE>

- --------------------------------------------------------------------------------
PERFORMANCE
- --------------------------------------------------------------------------------

Because the Fund commenced operations in December of 1998, historical
performance is not yet presented for the Fund. Performance history will be
presented for the Fund after it has been in operation for one calendar year.
The year-to-date return for Class II of the Fund for the period ended June
30, 1999 was 2.21%.

Maximum Deferred Sales Charge None

Redemption None

Exchange None
</TABLE>

<TABLE>
<CAPTION>
--------------------------------------------------

ANNUAL FUND OPERATING EXPENSES
(paid from Fund assets)

--------------------------------------------------
<S> <C>
Management Fees 0.04%
--------------------------------------------------
Distribution (12b-1) Fees 0.25%
--------------------------------------------------
Other Expenses 0.97%
--------------------------------------------------
Total Annual Fund Operating Expenses 1.24%
--------------------------------------------------
Fee Waiver (0.77)%*
--------------------------------------------------
Net Annual Fund Operating Expenses 0.47%
--------------------------------------------------
</TABLE>
* The amount for "Other Expenses" includes
administration fees payable to ALPS. ALPS has
contractually agreed to waive a portion of the
administration fees that it is entitled to
receive, and/or assume a portion of Fund expenses,
until at least April 30, 2000. As a result, Net
Annual Fund Operating Expenses for the Fund will
be no more than 0.47% for that period. Currently,
ALPS is waiving fees to the extent necessary to
limit Net Annual Fund Operating Expenses to 0.45%.
You will be notified if these waivers are discounted
after April 30, 2000 resulting in a material change
to the expense ratio.
----------------------------------------------------

EXAMPLE -- The following example is intended to help you compare the cost of
investing in the Fund with the cost of investing in other mutual funds. The
example assumes that you invest $10,000 in the Fund for the time periods
indicated and that the Fund returns 5% each year. After one year, the example
does not take into consideration ALPS' agreement to waive fees. Although your
actual costs may be higher or lower, based on these assumptions your costs would
be:

<TABLE>
<CAPTION>
ONE THREE
YEAR YEARS
<S> <C> <C>
- --------------------------------------------------------------------------------
PRIME MONEY MARKET FUND $48 $317
</TABLE>