CHASE VISTA FUNDS
100% U.S. TREASURY MONEY MARKET FUND
TREASURY PLUS MONEY MARKET FUND
FEDERAL MONEY MARKET FUND
U.S. GOVERNMENT MONEY MARKET FUND
CASH MANAGEMENT FUND
PRIME MONEY MARKET FUND
TAX FREE MONEY MARKET FUND
SUPPLEMENT DATED NOVEMBER 2, 1998
TO THE INSTITUTIONAL SHARES PROSPECTUS DATED
DECEMBER 29, 1997, AS REVISED MARCH 13, 1998
In the section of the Prospectus entitled "Expense Summary," the following is
inserted in lieu of the existing tables:
EXPENSE SUMMARY
Expenses are one of several factors to consider when investing. The following
table summarizes your costs from investing in a Fund and is, except as described
below, based on expenses incurred in the most recent fiscal year by each Fund.
The examples show the cumulative expenses attributable to a hypothetical $1,000
investment over specified periods.
The table is provided to help you understand the expenses of investing in the
Funds and your share of the operating expenses that a Fund incurs. THE EXAMPLES
SHOULD NOT BE CONSIDERED REPRESENTATIONS OF PAST OR FUTURE EXPENSES OR RETURNS;
ACTUAL EXPENSES AND RETURNS MAY BE GREATER OR LESS THAN SHOWN.
Charges or credits, not reflected in the expense table below, may be incurred
directly by customers of financial institutions in connection with an investment
in a Fund.
<TABLE>
<CAPTION>
100%
U.S. Treasury
Securities Treasury Plus Federal Government Cash Prime Tax Free
Money Money Money Money Manage- Money Money
Market Market Market Market ment Market Market
Fund Fund Fund Fund Fund Fund Fund
------------- ------------- ------------- ------------- ------------- ------------- -------------
Institutional Institutional Institutional Institutional Institutional Institutional Institutional
Shares Shares Shares Shares Shares Shares Shares
------------- ------------- ------------- ------------- ------------- ------------- -------------
<S> <C> <C> <C> <C> <C> <C> <C>
ANNUAL FUND OPERATING
EXPENSES (as a
percentage of
average net assets)
Investment Advisory
Fee ................... 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10%
12b-1 Fee ............... n/a n/a n/a n/a n/a n/a n/a
Shareholder Servicing
Fee ................... 0.06%* 0.06%* 0.00%* 0.03%* 0.02%* 0.02%* 0.00%*
Other Expenses (after
estimated waiver of fees,
where indicated) ...... 0.10%*# 0.10%*# 0.16% 0.13% 0.14% 0.14% 0.16%
Total Fund Operating
Expenses (after waiver
of fees, where
indicated) ............ 0.26%*# 0.26%*# 0.26%* 0.26%* 0.26%* 0.26%* 0.26%*
EXAMPLES
Your investment of $1,000
would incur the following
expenses, assuming 5%
annual return:
1 year .................. $ 3 $ 3 $ 3 $ 3 $ 3 $ 3 $ 3
3 years ................. 8 8 8 8 8 8 8
5 years ................. 15 15 15 15 15 15 15
10 years ................ 33 33 33 33 33 33 33
</TABLE>
* Reflects current waiver arrangements to maintain Total Fund Operating Expenses
at the levels indicated in the table above. Absent such waivers, the Shareholder
Servicing Fee for each of the 100% U.S. Treasury Securities Money Market Fund,
Treasury Plus Money Market Fund, Federal Money Market Fund, Government Money
Market Fund, Cash Management Fund, Prime Money Market Fund and Tax Free Money
Market Fund would be 0.10%, and Other Expenses would be 0.14% and 0.13% for 100%
U.S. Treasury Securities Money Market Fund and Treasury Plus Money Market Fund,
respectively. Absent such waivers, Total Fund Operating Expenses would be 0.34%,
0.33%, 0.36%, 0.33%, 0.34%, 0.34% and 0.36% for 100% U.S. Treasury Securities
Money Market Fund, Treasury Plus Money Market Fund, Federal Money Market Fund,
Government Money Market Fund, Cash Management Fund, Prime Money Market Fund and
Tax Free Money Market Fund, respectively.
# Restated from most recent fiscal year to reflect current waiver arrangements.
The following is inserted before the first paragraph in the section entitled
"Other Information Concerning the Funds" on page 28 of the Prospectus:
SHAREHOLDER SERVICING AGENTS
The Trust has entered into shareholder servicing agreements with certain
shareholder servicing agents (including Chase) under which the shareholder
servicing agents have agreed to provide certain support services to their
customers who beneficially own Institutional Shares of the Funds. These services
include one or more of the following: assisting with purchase and redemption
transactions, maintaining shareholder accounts and records, furnishing customer
statements, transmitting shareholder reports and communications to customers and
other similar shareholder liaison services. For performing these services, each
shareholder servicing agent receives an annual fee of up to 0.05% of the average
daily net assets of Institutional Shares of each Fund held by investors for whom
the shareholder servicing agent maintains a servicing relationship. Shareholder
servicing agents may subcontract with other parties for the provision of
shareholder support services.
Shareholder servicing agents may offer additional services to their customers,
such as pre-authorized or systematic purchase and redemption plans. Each
shareholder servicing agent may estabish its own terms and conditions, including
limitations on the amounts of subsequent transactions, with respect to such
services. Certain shareholder servicing agents may (although they are not
required by the Trust to do so) credit to the accounts of their customers from
whom they are already receiving other fees an amount not exceeding such
other fees or the fees for their services as shareholder servicing agents.
