Addition of Y Shares
Class Y Shares of Xxxxxxxxxxx Capital Appreciation Fund were first offered
November 1, 1997. Class Y Shares are sold at net asset value per share without
the imposition of a sales charge at the time of purchase to separate accounts of
insurance companies and other institutional investors ("Class Y Sponsors")
having an agreement ("Class Y Agreements") with the Manager or the Distributor.
The intent of Class Y Agreements is to allow tax qualified institutional
investors to invest indirectly (through separate accounts of the Class Y
sponsor) in Class Y shares of the Fund and to allow institutional investors to
invest directly in Class Y Shares of the Fund. Individual investors are not
permitted to invest directly in Class Y shares. While Class Y shares are not
subject to a contingent deferred sales charge, asset-based sales charge or
service fee, a Class Y Sponsor may impose charges on separate accounts investing
in Class Y shares.
