QUALIVEST FUNDS
Qualivest U.S. Treasury Money Market Fund
Qualivest Money Market Fund
Qualivest Tax-Free Money Market Fund
Qualivest Intermediate Bond Fund
Qualivest Diversified Bond Fund
Qualivest Optimized Stock Fund
Qualivest Large Companies Value Fund
Qualivest International Opportunities Fund
Qualivest Small Companies Value Fund
CLASS A & C SHARES
Supplement Dated August 9, 1996
to the Prospectus Dated November 15, 1995,
as Supplemented August 1, 1996
Purchases of Class A Shares of the Income Funds in amounts of
at least $500,000 but less than $1,000,000 will be subject to the
following sales charge, which may be reallowed by the Distributor
as dealer discounts and brokerage commissions:
Sales Charge As:
% of Offer- % of Net Amount Dealer
ing Price Invested Reallowance
1.25% 1.27% 1.13%
Such purchases of Class A Shares of the Income Funds that are
subject to the Senior Citizens Discount as described on pages 36-37
of the Prospectus will be subject to the following sales charge,
which may be reallowed by the Distributor as dealer discounts and
brokerage commissions:
Sales Charge As:
% of Offer- % of Net Amount Dealer
ing Price Invested Reallowance
1.125% 1.14% 1.01%
INVESTORS SHOULD RETAIN THIS SUPPLEMENT WITH THE
PROSPECTUS FOR FUTURE REFERENCE