NORTHSTAR VARIABLE TRUST
Prospectus Supplement dated
November 12, 1997 to Prospectus dated
August 8, 1997
Effective November 12, 1997, the Northstar Growth Fund has been renamed the
Northstar Variable Trust Growth Portfolio, the Northstar International Value
Fund has been renamed the Northstar Variable Trust International Value
Portfolio, the Northstar Income and Growth Fund has been renamed the Northstar
Variable Trust Income and Growth Portfolio, the Northstar High Yield Bond Fund
has been renamed the Northstar Variable Trust High Yield Bond Portfolio, and the
Northstar Multi-Sector Bond Fund has been renamed the Northstar Variable Trust
Multi-Sector Bond Portfolio.
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The following information supplements or replaces the information contained in
the section of the Trust's prospectus entitled "MANAGEMENT OF THE FUNDS:
PORTFOLIO MANAGERS":
Effective November 12, 1997, the language on page 13 of the Prospectus has been
changed to read as follows:
Thomas Ole Dial has served as manager of the Northstar Variable Trust High Yield
Bond Portfolio since its inception in May 1994. Mr. Dial has also served as
portfolio manager of the Norhtstar High Total Return Fund since its inception in
November 1993, as portfolio manager of the Northstar Balance Sheet Opportunities
Fund since May 1997, and as portfolio manager of the Northstar High Total Return
Fund II since its inception, separate investment companies managed by the
Adviser. Prior to employment by the Adviser in October 1993, Mr. Dial served as
Executive Vice President and Chief Investment Officer - Fixed Income of National
Securities & Research Corporation, and as portfolio manager for the National
Bond Fund, National Asset Reserve and National Multi-Sector Fixed Income Fund.
Ryan Johanson serves as the portfolio manager for the Northstar Variable Trust
Multi-Sector Bond Portfolio. Mr. Johanson has also served as portfolio manager
of the Northstar Strategic Income Fund and the Northstar Government Securities
Fund since March 1997, separate investment companies managed by the Adviser.
Prior to employment by the Adviser in March 1997, Mr. Johanson served as
Director of Global Market Risk Management - Asia for Barclays Bank, Senior
Manager of Banque Indosuez, and Chief Investment Officer at Fidelity Federal
Bank.
Geoffrey Wadsworth serves as co-manager for the Northstar Variable Trust Income
and Growth Portfolio. Mr. Wadsworth has also served as portfolio manager for
the Northstar Growth Fund since February 1996 and as co-manager of the Northstar
Income and Growth Fund since December 1996, separate investment companies
managed by the Adviser. Prior to employment by the Adviser in October 1993, Mr.
Wadsworth served as Vice President of National Securities & Research
Corporation, as portfolio manager of the National Stock Fund, and as assistant
manager of the National Income and Growth Fund, National Worldwide Opportunities
Fund and National Total Return Fund.
Jack Fisher serves as co-manager of the Northstar Variable Trust Income and
Growth Portfolio. Mr. Fisher, who has more than 20 years of investment
experience, is president of Wilson/Bennett Capital Management, Inc.
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THIS SUPPLEMENT SUPERSEDES ALL PRECEDING SUPPLEMENTS.
