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FIRSTHAND FUNDS March 15, 2000
SUPPLEMENT TO PROSPECTUS
DATED NOVEMBER 30, 1999 (THE "PROSPECTUS")
At a meeting held on February 26, 2000, the Board of Trustees of the
Firsthand Funds (the "Trust") approved a number of changes in the Trust's
service providers and shareholder services. These changes include (i) the
appointment of State Street Bank and Trust Company ("State Street") as the new
transfer agent for the Trust, effective April 8, 2000, (ii) the appointment of
State Street as the sub-administrator for the Trust, effective April 30, 2000,
and (iii) the appointment of ALPS Mutual Fund Services, Inc. as the distributor
for the Trust, effective April 30, 2000. In addition, the money market fund
available as part of the Exchange Privilege has been changed.
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES THE INFORMATION CONTAINED
IN THE PROSPECTUS:
Effective April 8, 2000, the transfer agent address is changed to P.O. Box
8356, Boston, Massachusetts 02266-8356, for the following transactions:
- Obtaining general information about shareholder services;
- Opening accounts and obtaining account applications;
- Obtaining instructions for purchasing shares by bank wire;
- Redeeming shares;
- Removing the telephone privilege from your account;
- Changing your bank or brokerage account;
- Obtaining information about Automated Clearing House transactions;
- Starting, modifying or discontinuing an Automatic Investment Plan;
- Exchanging shares of the Trust's series; and
- Requesting payments of distributions in cash.
Also effective April 8, 2000, under the Exchange Privilege, shares of any
Firsthand Funds may be exchanged at net asset value (less any applicable
redemption fees) for shares of the SSgA Money Market Fund (the "Money Market
Fund") (a series of SSgA Funds), which invests in high quality money market
instruments.
Effective April 30, 2000, the sub-administrator address is changed to 225
Franklin Street, Boston, Massachusetts 02110.
Effective April 30, 2000, ALPS Mutual Fund Services, Inc. (the
"Underwriter"), 370 17th Street, Suite 3100, Denver, Colorado 80202, serves as
principal underwriter for the Trust (replacing CW Fund Distributors, Inc.) and,
as such, is the exclusive agent for the distribution of shares of the Trust.
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FIRSTHAND FUNDS March 15, 2000
SUPPLEMENT TO STATEMENT OF ADDITIONAL INFORMATION
DATED NOVEMBER 30, 1999 (THE "STATEMENT OF ADDITIONAL INFORMATION")
At a meeting held on February 26, 2000, the Board of Trustees of the
Firsthand Funds (the "Trust") approved a number of changes in the Trust's
service providers. These changes include (i) the appointment of State Street
Bank and Trust Company ("State Street") as the new transfer agent for the
Trust, effective April 8, 2000, (ii) the appointment of State Street as the
sub-administrator for the Trust, effective April 30, 2000, (iii) the
appointment of ALPS Mutual Fund Services, Inc. as the distributor for the
Trust, effective April 30, 2000, and (iv) the appointment of Morrison &
Foerster LLP as counsel for the Trust and its independent trustees.
THE FOLLOWING INFORMATION SUPPLEMENTS OR REPLACES THE INFORMATION CONTAINED
IN THE STATEMENT OF ADDITIONAL INFORMATION:
Effective April 8, 2000, the address is changed to P.O. Box 8356,
Boston, Massachusetts 02266-8356, for obtaining a copy of the Trust's
prospectus.
State Street, 225 Franklin Street, Boston, Massachusetts 02110, has been
retained by Firsthand Capital Management, Inc. (the "Investment Adviser"), to
maintain the records of each shareholder's account, process purchases and
redemptions of the shares of the Trust's series (the "Funds") and act as
dividend and distribution disbursing agent. State Street also provides
sub-administrative services to the Funds, calculates daily net asset value
per share and maintains such books and records as are necessary to enable
State Street to perform its duties. For its services, the Investment Adviser
(not the Trust) pays State Street (i) a fee for sub-administrative services
at the annual rate of 0.03% of the first $1 billion of the Trust's average
net assets, 0.025% of the next $1 billion of the Trust's average net assets,
0.02% of the next $1 billion of the Trust's average daily net assets, 0.015%
of the next $2 billion of the Trust's average daily net assets and 0.010% of
the average daily net assets of the Trust thereafter; (ii) a fee for transfer
agency and shareholder services at the annual rate of 0.02% of the Trust's
average net assets; and (iii) a fee for accounting services at the annual
rate of 0.0125% of the first $1 billion of the Trust's average net assets,
0.01% of the next $1 billion of the Trust's average net assets, 0.005% of the
next $1 billion of the Trust's average daily net assets and 0.0025% of the
Trust's average daily net assets thereafter.
Effective April 30, 2000, ALPS Mutual Fund Services, Inc. (the
"Underwriter"), 370 17th Street, Suite 3100, Denver, Colorado 80202, will be
the principal underwriter for the Trust (replacing CW Fund Distributors,
Inc.) pursuant to an Underwriting Agreement.
The law firm of Morrison & Foerster LLP, 2000 Pennsylvania Ave., NW,
Washington, DC 20006, acts as legal counsel for the Trust and the Trust's
independent trustees.
