IBJ FUNDS TRUST
SUPPLEMENT DATED NOVEMBER 11, 1996 TO PROSPECTUS DATED MARCH 27, 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. All references to Furman Selz LLC
as Transfer Agent in the Prospectus shall refer to BISYS. At its September 12,
1996 meeting, the Board of Trustees of the IBJ Funds Trust also approved, as
successor Administrator to Furman Selz LLC, BISYS Fund Services Limited
Partnership d/b/a BISYS Fund Services. The Board of Trustees also approved, as
successor Accounting Agent to Furman Selz LLC, BISYS Fund Services, Inc. In
addition, the Board approved a new Distribution Agreement with IBJ Funds
Distributor, Inc., which will become an affiliate of each BISYS entity at the
time of conversion. BISYS and its affiliates have their principal places of
business at 3435 Stelzer Road, Columbus, Ohio 43219. BISYS and its affiliates
will perform the same services as each predecessor at an identical fee. The
remaining conversions are expected to occur during the last quarter of 1996.
PLEASE NOTE THE FOLLOWING REVISION REGARDING GUIDE TO INVESTING IN THE IBJ
FAMILY OF FUNDS (This section now reads as follows):
Purchase orders for the Money Market Fund received by 12:00 noon Eastern
time will become effective that day. Purchase orders for all other Funds
received by your IBJS representative in "good order" prior to 4:00 p.m., Eastern
time, and transmitted to the Distributor prior to 4:00 p.m. Eastern time, will
become effective that day.
PLEASE NOTE THE FOLLOWING REVISION REGARDING FUND SHARE VALUATION (The first
sentence of this section now reads as follows):
The net asset value per share of the Funds is calculated at 12:00 noon
(Eastern time) for the Money Market Fund and at 4:00 p.m. (Eastern time) for
each of the Non-Money Market Funds, 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, Presidents' Day, Good Friday, Memorial Day,
Independence Day, Labor Day, Thanksgiving Day and Christmas Day; and the
following additional business holidays for the Money Market Fund: Martin Luther
King, Jr. Day, Columbus Day and Veterans Day.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING PRICING AND PURCHASE OF FUND
SHARES (The first, third and sixth paragraphs of this section now reads as
follows):
Orders for the purchase of shares will be executed at the net asset value
per share next determined after an order has been received in "good order".
All funds received are invested in full and fractional shares of the
appropriate Fund. Certificates for shares are not issued. BISYS maintains
records of each shareholder's holdings of Fund shares, and each shareholder
receives a statement of transactions, holdings and dividends. The Funds reserve
the right to reject any purchase. No third party or foreign checks will be
accepted.
Orders received by your IBJ representative for the Non-Money Market Funds
in "good order" prior to the determination of net asset value and transmitted to
the Fund prior to the close of its business day (which is currently 4:00 p.m.,
Eastern time), will become effective that day.
OTHER PURCHASE INFORMATION (The following is added at the end of this section)
Requests in "good 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.
SIGNATURE GUARANTEES. To protect shareholder accounts, the Funds and its
transfer agent from fraud, signature guarantees are required to enable the Funds
to verify the identity of the person who has authorized a redemption from an
account. Signature guarantees are required for (1) redemptions where the
proceeds are to be sent to someone other than the registered shareowner(s) and
the registered address and (2) share transfer requests. Shareholders may contact
the Funds at (800) 99-IBJFD for further details.
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BY WIRE (This section now reads as follows):
Investments may be made directly through the use of wire transfers of
Federal funds. Contact your bank and request it to wire Federal funds to the
applicable Fund. In most cases, your bank will either be a member of the Federal
reserve Banking System or have a relationship with a bank that is. Your bank may
charge a fee for handling the transaction. To purchase shares by a Federal funds
wire, please contact (800) 99-IBJFD for wiring instructions A competed Purchase
Application must be overnighted to the Fund in advance of the wire at IBJ Funds
Trust, c/o BISYS Fund Services, 3435 Stelzer Road, Columbus, OH 43219-8021.
BY MAIL (This paragraph is inserted after the By Wire section)
Purchases to open new accounts which are mailed should be sent to IBJ Funds
Trust, P.O. Box 182492, Columbus, OH 43218-2492, together with the completed and
signed Purchase Application.
Purchases made by check in the Funds are not permitted to be redeemed until
payment of the purchase has been collected, which may take up to fifteen days
after purchase.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING INDIVIDUAL RETIREMENT ACCOUNTS
(This section now reads as follows):
All Funds may be used as a funding medium for IRAs. Shares may also be
purchased for IRAs established with IBJS or any of its affiliates or other
authorized custodians. Completion of a special application is required in order
to create such an account, and the minimum initial investment for an IRA is
$250, other than an IRA for which IBJS or any of its affiliates acts as trustee
or custodian. Contributions to IRAs are subject to prevailing amount limits set
b the Internal Revenue Service. For more information and IRA information, call
the Fund at (800) 99-IBJFD.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING EXCHANGE OF FUND SHARES (The
second sentence of the first paragraph now reads as follows):
Before engaging in an exchange transaction, a shareholder should read
carefully the Prospectus describing the Fund into which the exchange will occur,
which is available without charge and can be obtained by writing to the Fund at
P.O. Box 182492, Columbus, OH 43218-2492, or by calling (800) 99-IBJFD.
EXCHANGE BY MAIL (This section now reads as follows):
To exchange Fund shares by mail, simply send a letter of instruction to IBJ
Funds Trust, P.O. Box 182492, Columbus, OH 43218-2492. The letter of instruction
must include: (i) your account number; (ii) the Fund from and the Fund into
which you wish to exchange your investment; (iii) the dollar or share amount you
wish to exchange; and (iv) the signatures of all registered owners or authorized
parties.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING REDEMPTION OF FUND SHARES
BY CHECK (This section now reads as follows):
You may redeem your reserve Reserve Money Market Fund shares by drawing
checks on your account. You must first complete the signature card provided with
the purchase application. Upon receiving the properly completed application and
signature card, the Administrator will provide you with checks free of charge.
These checks may be made payable to the order of any person in the amount of
$500 or more. When a check is presented for payment, a sufficient number of full
and fractional shares in the shareholder's account will be redeemed to cover the
amount of the check. It is not possible to use a check to close out your
account.
BY TELEPHONE (The following sentence is added at the end of the paragraph)
Telephone Redemption and Telephone Exchange will be suspended for a period
of 10 days following a telephonic address change.
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OTHER REDEMPTION INFORMATION (The following is added to become the second
paragraph of this section)
Requests in "good 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" above): 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.
PLEASE NOTE THE FOLLOWING REVISIONS REGARDING DIVIDENDS, DISTRIBUTIONS AND
FEDERAL INCOME TAX
The fifth paragraph has been 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 payment of the distribution. In addition, any
undeliverable checks 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 REVISION REGARDING OTHER INFORMATION
CAPITALIZATION (The second sentence of the second paragraph now reads as
follows)
The Service Class shares are offered at net asset value without a sales
load only to certain institutional investors who are purchasers through a trust
investment manager or account manager or administered by the Adviser, are
employee or ex-employees of IBJS or any of its affiliates, BISYS, or any other
service provider, or employees of any trust customer of IBJS or any of its
affiliates.
SHAREHOLDER INQUIRES (The following paragraph now reads as follows):
All shareholder inquires should be direct to IBJ Funds Trust, P. O. Box
182492, Columbus, OH 43218-2492.
