Rule 497(e)
File Nos. 333-94668
and 811-9070
Supplement dated December 29, 1997 to
Statement of Additional Information
dated November 28, 1997
DEVCAP SHARED RETURN FUND
Effective as of December 15, 1997, James R. Arnold was appointed Assistant
Secretary of the Devcap Shared Return Fund. The following biographical
information will appear on page 9 of the Statement of Additional Information.
JAMES R. ARNOLD -- Assistant Secretary of the Trust (since December 15, 1997);
Client Services & Accounting Manager, Sunstone Financial Group, Inc. (since
January, 1997); Secretary and Treasurer, The Primary Trend Fund, Inc. (since
September, 1986) and The Primary Income Funds, Inc. (since September, 1989);
Vice President, Arnold Investment Counsel, Inc. (prior to January, 1997).
