CENTURA FUNDS, INC.
SUPPLEMENT DATED NOVEMBER 11, 1996
TO CLASS A & B PROSPECTUS DATED AUGUST 28, 1996
This Supplement is provided to update, and should be read in conjunction
with, the information provided in the Prospectus.
Effective November 9, 1996 BISYS Fund Services, Inc. ("BISYS") became
the successor Transfer Agent to Furman Selz LLC. BISYS' principal place of
business is 3435 Stelzer Road, Columbus, Ohio 43219. BISYS will perform the
same services as Furman Selz LLC, at the identical fees. All references to
Furman Selz LLC as Transfer Agent in the Prospectus shall refer to BISYS.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING "HIGHLIGHTS"
Guide to Investing in Centura Funds, Inc (The first sentence of this paragraph
now reads as follows):
Purchase orders for the Funds received by your broker or Service
Organization in proper order prior to 4:00 p.m., Eastern time, and transmitted
to the Funds prior to 4:00 p.m., Eastern time will become effective that day.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING "PURCHASE OF FUND SHARES"
(The fourth paragraph of this section now reads as follows):
Orders received by the broker or Service Organization in proper order
prior to the determination of net asset value and transmitted to the Funds
prior to the close of its business day (which is currently 4:00 p.m., Eastern
time), will become effective that day. Brokers who receive orders are
obligated to transmit them promptly. Written confirmation of an order should
be received a few days after the broker has placed the order.
Through the Funds (This first paragraph of this section now reads as follows):
Orders may be placed directly with the Funds. For an initial investment,
the investor should submit a completed Purchase Application together with a
check or other negotiable bank draft made payable to the Centura Funds for
at least $1,000 (or any lower applicable minimum required for an initial
investment) to: Centura Funds Inc., P.O. Box 182485, Columbus, Ohio 43218-2485.
No third party or foreign checks will be accepted.
By Wire (This section now reads as follows):
Investments may be made directly through the use of wire transfers of
Federal funds. An investor's bank may wire Federal funds to the applicable
Fund. In most cases, the bank will either be a member of the Federal Reserve
Banking System or have a relationship with a bank that is. The bank will
normally charge a fee for handling this transaction. A completed Account
Application must be overnighted to the Funds at Centura Funds, Inc.
c/o BISYS Fund Services, Inc. 3435 Stelzer Road, Columbus, Ohio 43219-8021.
Notification must be given to the Funds at 1-800-442-3688 prior to 4:00 p.m.,
Eastern Standard Time, of the wire date. Federal funds purchases will be
accepted only on a day on which the Funds, the Distributor and the custodian
bank are all open for business. To purchase shares by a Federal funds wire,
investors should first contact the Funds at 1-800-44CENTURA for complete
wiring instructions.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING "RETIREMENT PLAN ACCOUNTS"
(This section now reads as follows):
Each of the Funds may be used as a funding medium for IRAs and other
qualified retirement plans ("Retirement Plans"), except that Centura North
Carolina Tax-Free Bond Fund is not recommended for IRA or Retirement Plan
investments. The minimum initial investment for an IRA or a Retirement
Plan is $250, with no minimum for subsequent investments. Completion of a
special application is required in order to create such an account. Fund
shares may also be purchased for IRAs and Retirement Plans established with
other authorized custodians. Contributions to IRAs are subject to prevailing
amount limits set by the Internal Revenue Service. For more information about
IRAs and other Retirement Plan accounts, call the Funds at 1-800-44CENTURA
(442-3688).
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING "EXCHANGE OF FUND SHARES"
Exchange by Mail
The provision in the last sentence of this paragraph regarding
signature guarantees is deleted.
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Exchange by Telephone (The following sentence is added at the end of this
section):
Telephone Redemption and Telephone Exchange will be suspended for a
period of 10 days following a telephonic address change.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING "REDEMPTION OF FUND SHARES"
Redemption Methods (The following sentence is added at the end of this
paragraph):
Requests in "proper order" must include the following documentation:
(a) a letter of instruction, if required, signed by all registered owners
of the shares in the exact names in which they are registered; (b) any
required signature guarantees (see "Signature Guarantees" below); and (c)
other supporting legal documents, if required, in the case of estates,
trusts, guardianships, custodianships, corporations, pension and profit
sharing plans and other organizations.
By Mail (The following sentence replaces (e) of this section).
(e) If the redemption request is to be sent to someone other than the
registered address, a signature guarantee is necessary by any eligible
guarantor institution including members of national securities exchanges,
commercial banks or trust companies, brokers-dealers, credit unions and
savings associations.
By Telephone (The following sentence is added at the end of this section):
Telephone Redemption and Telephone Exchange will be suspended for a period
of 10 days following a telephonic address change.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING "FUND SHARE VALUATION" (The
first sentence of this section now reads as follows):
The net asset value per share for each class of shares of each Fund is
calculated at 4:00 p.m. (Eastern time), Monday through Friday, on each day
the New York Stock Exchange is open for trading, which excludes the
following business holidays: New Year's Day, Martin Luther King, Jr. Day,
President's Day, Good Friday, Memorial Day, Independence Day, Labor Day,
Thanksgiving Day and Christmas Day.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING "DIVIDENDS, DISTRIBUTIONS,
AND FEDERAL INCOME TAXATION"
The last sentence of the fourth paragraph stating, "Investors who redeem all
or a portion of their Fund shares prior to a dividend payment date will be
entitled on the next payment date to all dividends declared but unpaid on
those shares at the time of their redemption", is deleted.
(The following is added at the end of this section):
If you elect to receive distributions in cash, and checks (1) are returned
and marked as "undeliverable" or (2) remain uncashed for six months, your
cash election will be changed automatically and your future dividend and
capital gains distributions will be reinvested in the Fund at the per share
net asset value determined as of the date of the payment of the distribution.
In addition, any undeliverable check or checks that remain uncashed for six
months will be canceled and will be reinvested in the Fund at the per share
net asset value determined as of the date of cancellation.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING "OTHER INFORMATION"
Shareholder Inquiries (This section now reads as follows):
All Shareholder inquiries should be directed to Centura Funds, P.O. Box
182485, Columbus, Ohio 43218-2485. General and Account Information:
(800) 44CENTURA (442-3688).
