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SUMMIT INVESTMENT TRUST
SUPPLEMENT DATED JANUARY 14, 1999 TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED SEPTEMBER 30, 1998
On December 14, 1998, The Board of Trustees of the Summit Investment Trust voted
to eliminate the following non-fundamental restriction for the High Yield Fund
and Emerging Markets Bond Fund from the Statement of Additional Information
dated September 30, 1998:
Mortgaging. Mortgage, pledge, hypothecate or, in any other manner, transfer as
security for indebtedness any security owned by the Fund, except as may be
necessary in connection with permissible borrowings, in which event such
mortgaging, pledging or hypothecating may not exceed 10% of the Fund's net
assets, valued at market. For purposes of this restriction, collateral
arrangements with respect to options and futures transactions shall not be
deemed to involve a pledge.
