NORTHSTAR INVESTMENT MANAGEMENT CORPORATION
TWO PICKWICK PLAZA
GREENWICH, CONNECTICUT 06830
(203) 863-6216
Via EDGAR Transmission
July 16, 1996
Securities and Exchange Commission
450 Fifth Street
Washington, D.C. 20549
RE: Northstar/NWNL Trust
File Nos. 33-73140/811-8220
Gentlemen:
Transmitted herewith for filing pursuant to Rule 497(e) under the Securities Act
of 1933 is a supplement, dated July 16, 1996, to the Prospectus dated April 30,
1996 for the above-named registrant.
The prospectus is being stickered to disclose an approved subadvisory
arrangement for the Northstar Income and Growth Fund, a series of the
Registrant.
Should you have any questions regarding this submission, please contact the
undersigned at (203) 863-6216.
Sincerely,
/s/
Stephanie L. Beckner
<PAGE>
NORTHSTAR/NWNL TRUST
Northstar Income and Growth Fund
Prospectus Supplement dated July 16, 1996
to Prospectus dated April 30, 1996
Effective August 1, 1996, Wilson/Bennett Capital Management, Inc.
("Wilson/Bennett") will manage the common stock portfolio of the Northstar
Income and Growth Fund pursuant to a Subadvisory Agreement (the "Agreement")
between Wilson/Bennett and Northstar Investment Management Corporation ("NIMC").
NIMC will designate the percentage of Fund assets to be managed by
Wilson/Bennett and will continue to select and communicate purchase and sale
orders to brokers and dealers who execute orders for the Fund.
John W. Fisher will serve as primary portfolio manager of the Fund's assets
allocated for investment in common stocks. For the past five years, Mr. Fisher
has been the controlling principal, president and sole director of
Wilson/Bennett. Margaret Patel will make all determinations related to the
allocation of the Fund's assets, will direct all trades and will remain the
person primarily responsible for investments in fixed income securities.
The Agreement provides that after and so long as the Fund's net assets exceed
$50 million, NIMC, not the Fund, will pay Wilson/Bennett an annual fee,
calculated and accrued daily and paid monthly, equal to 0.20 of 1% of the first
$125 million of average daily net assets of the Fund managed by Wilson/Bennett,
increasing to 0.25 of 1% for the next $125 million, and to 0.30 of 1% for assets
managed in excess of $250 million. The Fund's annual advisory fee will remain at
0.75 of 1% of the Fund's average daily net assets.
