DEVCAP SHARED RETURN FUND
Supplement to Prospectus Dated October 16, 1995, as Amended March 29, 1996
The following is inserted after the paragraph captioned "Automatic
Investment Plan" on page 18 of the Prospectus:
Individual Retirement Accounts
Shares of the Fund may be used as a funding medium for an Individual
Retirement Account ("IRA"). An IRA plan approved by the Internal Revenue Service
is available from the distributor naming Investors Bank & Trust Company as
custodian. The minimum initial investment for an IRA is $250; there is no
minimum for subsequent investments. IRAs are available to individuals under age
70 1/2 who receive compensation or earned income during the year. An IRA
contribution by an individual who participates, or whose spouse participates, in
a tax-qualified or Government-approved retirement plan may not be deductible
depending upon various factors, including the individual's income. Individuals
may also establish an IRA to receive a "rollover" distribution from another IRA
or a qualified plan. Tax advice should be obtained before planning a rollover.
IRA accounts and the Fund's charitable contribution program. As described
above under the section header "Charitable Contribution Program," while shares
equal to the value of a shareholder's charitable contribution amount are usually
redeemed automatically pursuant to the shareholder's charitable contribution
instructions, shares may not be redeemed in this way from an IRA account without
incurring certain tax liabilities associated with early withdrawals from IRA
accounts. Therefore, for IRA accounts only, shareholders will be requested to
remit their charitable contribution from a source other than their IRA account.
By January 31 of each year, the Fund will mail a notice to each IRA shareholder
indicating the shareholder's charitable contribution amount for the previous
year. Each shareholder will then be requested to make a contribution to DEVCAP
equal in value to his or her charitable contribution amount payable by check or
credit card. For more information regarding how the Fund calculates a
shareholder's annual charitable contribution amount, see "Charitable
Contribution Program" above.
The date of this Supplement is June 3, 1996.
DEV006B
