PANORAMA TRUST
Pictet Global Emerging Markets Fund
Pictet International Small Companies Fund
Pictet Eastern European Fund
Supplement to each Funds Statement of Additional Information dated April 30,
1999
This supplement provides new and additional information beyond that contained
in each Funds Statement of Additional Information. It should be retained
and read in conjunction with each Funds Statement of Additional Information.
Effective December 1, 1999, Provident Distributors, Inc., Four Falls
Corporate Center, West Conshohocken, Pennsylvania 19428, replaced First Data
Distributors, Inc. as the Funds distributor.
Effective December 1, 1999, First Data Investor Services Group, Inc.
(Investor Services Group), the Funds Administrator and Transfer Agent,
became a majority-owned subsidiary of PNC Bank Corp. As a result of this
transaction, Investor Services Group is now known as PFPC Inc.
December 1, 1999
Please Retain This Supplement For Future Reference
