WINTHROP OPPORTUNITY FUNDS
497, 1997-06-16
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                           WINTHROP OPPORTUNITY FUNDS
      SUPPLEMENT DATED JUNE 16, 1997 TO PROSPECTUS DATED JANUARY 24, 1997
 
     Effective June 16, 1997, Robert de Guigne assumed the day-to-day investment
responsibilities  of the Winthrop International Equity Fund (the 'Fund'). Mr. de
Guigne, an employee of AXA Asset  Management Partenaires, the Subadviser to  the
Fund, is also currently the portfolio manager of the Winthrop Developing Markets
Fund.





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