SUN CAPITAL ADVISERS TRUST^®

SC^SM Alger Growth Fund

SC^SM Alger Income and Growth Fund

SC^SM Alger Small Capitalization Fund

SC^SM Davis Financial Fund

SC^SM Neuberger Berman Mid Cap Growth Fund

SC^SM Neuberger Berman Mid Cap Value Fund

SC^SM Value Equity Fund

SC^SM Value Managed Fund

SC^SM Value Mid Cap Fund

SC^SM Investors Foundation Fund

SC^SM Select Equity Fund

Supplement dated August 9, 2004 to the Prospectus dated April 30, 2004

At separate shareholder meetings held on August 5, 2004, the shareholders of SC Alger Growth Fund, SC Alger Income and Growth Fund, SC Alger Small Capitalization Fund, SC Davis Financial Fund, SC Neuberger Berman Mid Cap Growth Fund, SC Neuberger Berman Mid Cap Value Fund, SC Value Equity Fund, SC Value Managed Fund, SC Value Mid Cap Fund, SC Investors Foundation Fund, and SC Select Equity Fund (each, a "Fund", together, the "Funds") voted to approve the liquidation of their respective Funds. On August 6, 2004, the assets of each Fund were liquidated, the liquidation proceeds were distributed to the respective Fund's shareholders, and the existence of each Fund was terminated. Therefore, the Funds are no longer available for investment.