ANCHOR RESOURCE & COMMODITY TRUST, 497, 1999-12-01

ANCHOR RESOURCE & COMMODITY TRUST
497, 1999-12-01

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                       Anchor Resource and Commodity Trust

                                   SUPPLEMENT

                             Dated November 15, 1999
           TO THE PROSPECTUS AND STATEMENT OF ADDITIONAL INFORMATION
                               DATED JULY 28, 1999


This Supplement is provided to update,  and should be read in conjunction  with,
the information provided in the Prospectus.


Management of the Trust

      The Current  Prospectus  and  Statement of Additional  Information  of the
Anchor Resource and Commodity  Trust (the "Trust")  indicates that the portfolio
is managed by a team  consisting of Paul Jaspard and Alain  Jaspard.  On October
30, 1999, Paul Jaspard died.  Consequently,  the Trust's  portfolio is currently
managed solely by Alain Jaspard. Alain Jaspard has been elected a Vice President
of Anchor Investment  Management  Corporation,  the Investment  Advisor ("Anchor
Investment").