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SUPPLEMENT TO PROSPECTUS
AND STATEMENT OF ADDITIONAL INFORMATION
TOUCHSTONE GROWTH & INCOME FUND A
OF SELECT ADVISORS TRUST A
TOUCHSTONE GROWTH & INCOME FUND C
OF SELECT ADVISORS TRUST C
THIS SUPPLEMENT IS DATED AS OF SEPTEMBER 7, 1998.
The Prospectuses and Statements of Additional Information of Select
Advisors Trust A and Select Advisors Trust C, each dated May 1, 1998, are hereby
amended and supplemented with the following information.
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On September 7, 1998, Zurich Insurance Company ("Zurich") combined its
financial services businesses, including Zurich's 70% interest in Scudder Kemper
Investments, Inc. ("Scudder Kemper") with the financial services businesses of
B.A.T Industries p.l.c. ("B.A.T") to form a new global insurance and financial
services company, known as Zurich Financial Services. By way of a dual holding
company structure, Zurich's shareholders own approximately 57% of the new
organization, with the balance owned by B.A.T's shareholders.
Scudder Kemper serves as portfolio advisor to the Growth & Income
Portfolio (the "Growth & Income Portfolio") of Select Advisors Trust (the
"Portfolio Trust"). Touchstone Growth & Income Fund A ("Fund A") and Touchstone
Growth & Income Fund C ("Fund C") each invests all of its investable assets in
the Growth & Income Portfolio.
As a result of the transaction, the Portfolio Advisory Agreement with
Scudder Kemper for the Growth & Income Portfolio was deemed to have been
assigned and therefore terminated. The Board of Trustees of the Portfolio Trust
(the "Board") approved a new Portfolio Advisory Agreement with Scudder Kemper on
September 2, 1998. The new Portfolio Advisory Agreement is substantially
identical to the previous Portfolio Advisory Agreement, except for the date of
execution and termination. The new Portfolio Advisory Agreement became effective
as of September 7, 1998.
The Board will seek shareholder approval of the new Portfolio Advisory
Agreement through a proxy solicitation in connection with a meeting of the
shareholders of Fund A and Fund C. The meeting is scheduled for late January,
1999.
