NORTHSTAR GALAXY TRUST
Prospectus Supplement dated July 1, 1999
to Prospectus dated April 30, 1999
The Underwriter is sponsoring an incentive program for registered
representatives of Washington Square Securities, Inc. through December 31, 1999
in connection with the sale by its members of shares of the Northstar Galaxy
Trust Emerging Growth Portfolio. The Underwriter has agreed to provide such
registered representatives with an additional 0.15% in sales commissions with
respect to sales of the Northstar Galaxy Trust Emerging Growth Portfolio that
exceed $50,000.
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The disclosure on pages 10 and 12 of the Northstar Galaxy Trust Prospectus is
hereby amended to reflect that:
Effective July 1, 1999, the Northstar Galaxy Trust High Yield Bond Portfolio's
sole portfolio manager will be Jeffrey Aurigemma. Mr. Aurigemma is also
Portfolio Manager of the Northstar High Total Return Fund, Northstar High Total
Return Fund II, Northstar High Yield Fund and Northstar Balance Sheet
Opportunities Fund. Mr. Aurigemma has been with Northstar since October 1993.
His biography appears on page 12 of the prospectus. Mr. Dial's biography, which
also appears on page 12, is hereby deleted.
