MEDICAL SPECIALISTS FUND
JULY 20, 1999, SUPPLEMENT TO PROSPECTUS DATED MAY 11, 1999, AS SUPPLEMENTED
The independent trustees of Firsthand Funds have given preliminary approval to
solicit the shareholders of the Medical Specialists Fund for their approval of
two proposals:
(1) to change the investment adviser of the Medical Specialists Fund from
Interactive Research Advisers to Ingenuity Capital Management LLC ("ICM"), a
newly-formed Delaware limited liability company owned by Kendrick W. Kam, the
portfolio manager to the Medical Specialists Fund, following the effectiveness
of ICM's registration with the Securities and Exchange Commission (the "SEC") as
an investment adviser, and
(2) some time later, to move the Medical Specialists Fund out of the Firsthand
Funds trust and into Ingenuity Capital Trust ("ICT"), a new Delaware business
trust recently formed by Mr. Kam. This move would occur after ICT's registration
is declared effective by the SEC.
A proxy statement describing the proposals will be available shortly.
