497 1 d497.htm COLUMBIA FUNDS SERIES TRUST Columbia Funds Series Trust

COLUMBIA FUNDS SERIES TRUST

Columbia LifeGoal® Growth Portfolio

Columbia LifeGoal® Balanced Growth Portfolio

Columbia LifeGoal® Income and Growth Portfolio

Columbia LifeGoal® Income Portfolio

(each, a “Portfolio” and collectively, the “Portfolios”)

Supplement dated March 23, 2009 to the Portfolios’ Statement of Additional Information,

dated August 1, 2008, as revised September 30, 2008

Effective February 20, 2009, in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services,” the following information as it pertains to the Portfolios is revised as follows:

 

  1. The table under the heading “Portfolio Manager(s) of the Advisor” is revised and replaced in its entirety with the following:

 

Portfolio Manager

   

Portfolio

Anwiti Bahuguna, PhD

    LifeGoal® Growth Portfolio

Colin Moore

    LifeGoal® Balanced Growth Portfolio

Kent M. Peterson, PhD

    LifeGoal® Income and Growth Portfolio

Marie M. Schofield

    LifeGoal® Income Portfolio

 

  2. The table under the heading “Performance Benchmarks” is revised and replaced in its entirety with the following:

 

Portfolio Manager

  

Primary Benchmark(s)

  

Lipper Fund Classification (Peer Group)

Anwiti Bahuguna, PhD

Colin Moore

Kent M. Peterson, PhD

Marie M. Schofield

  

S&P 500 Index (LifeGoal® Growth

Portfolio, LifeGoal® Balanced

Growth Portfolio, LifeGoal®

Income and Growth Portfolio)

   Lipper Large Cap Core Classification (LifeGoal® Growth Portfolio)
 

 

Barclays Capital U.S. Aggregate

Bond Index (LifeGoal® Balanced

Growth Portfolio, LifeGoal®

Income and Growth Portfolio)

  

 

Lipper Mixed-Asset Target Allocation Growth Classification

(LifeGoal® Balanced Growth Portfolio)

 

Barclays Capital U.S. Aggregate

1-3 Year Index (LifeGoal® Income

Portfolio)

  

Lipper Mixed-Asset Target Allocation Conservative Classification

(LifeGoal® Income and Growth Portfolio)

 

Blended: 80% Barclays Capital

U.S. Aggregate 1-3 Years

Index/20% Barclays Capital U.S.

Corporate High-Yield Bond Index

(LifeGoal® Income Portfolio)

  

Lipper Mixed-Asset Target Allocation Conservative Classification

(LifeGoal® Income Portfolio)

  3. The following table under the heading “Other Accounts Managed by the Portfolio Manager(s)” is revised and replaced in its entirety:

 

Portfolio Manager

    Other SEC-registered
open-end and
closed-end funds 		   Other pooled investment
vehicles		    Other accounts
     Number
of
accounts		    Assets    Number
of
accounts 		   Assets    Number
of
accounts		    Assets

Anwiti Bahuguna, PhD*

    8    $ 13.4 million    0    $ 0    4    $ 250,000

Colin Moore*

    4    $ 717 million    0    $ 0    3    $ 3 million

Kent M. Peterson, PhD*

    0    $ 0    0    $ 0    2    $ 363,935

Marie M. Schofield*

    0    $ 0    0    $ 0    0    $ 0

 

* Account information is provided as of December 31, 2008.

 

  4. The following table under the heading “Other Accounts Managed by the Portfolio Manager(s) for which the Advisory Fee is Based on Performance” is revised and replaced in its entirety:

 

Portfolio Manager

    Other SEC-registered
open-end and
closed-end funds		    Other pooled investment
vehicles		    Other accounts
     Number
of
accounts 		   Assets    Number
of
accounts 		   Assets    Number
of
accounts		    Assets

Anwiti Bahuguna, PhD*

    0    $ 0    0    $ 0    0    $ 0

Colin Moore*

    0    $ 0    0    $ 0    0    $ 0

Kent M. Peterson, PhD*

    0    $ 0    0    $ 0    0    $ 0

Marie M. Schofield*

    0    $ 0    0    $ 0    0    $ 0

 

* Account information is provided as of December 31, 2008.

 

  5. The following table under the heading “Portfolio Manager Ownership of the Portfolio as of March 31, 2008” is revised and replaced in its entirety:

 

Portfolio Manager

   

Portfolio

   

Dollar Range of Equity

Securities in the

Portfolio Beneficially Owned

Anwiti Bahuguna, PhD*

    LifeGoal® Growth Portfolio    None
   LifeGoal® Balanced Growth Portfolio    None
   LifeGoal® Income and Growth Portfolio    None
   LifeGoal® Income Portfolio    None

Colin Moore*

    LifeGoal® Growth Portfolio    None
   LifeGoal® Balanced Growth Portfolio    None
   LifeGoal® Income and Growth Portfolio    None
   LifeGoal® Income Portfolio    None

Kent M. Peterson, PhD*

    LifeGoal® Growth Portfolio    None
   LifeGoal® Balanced Growth Portfolio    None
   LifeGoal® Income and Growth Portfolio    None
   LifeGoal® Income Portfolio    None

Portfolio Manager

   

Portfolio

   

Dollar Range of Equity

Securities in the

Portfolio Beneficially Owned

Marie M. Schofield*

    LifeGoal® Growth Portfolio    None
   LifeGoal® Balanced Growth Portfolio    None
   LifeGoal® Income and Growth Portfolio    None
   LifeGoal® Income Portfolio    None

 

* Account information is provided as of December 31, 2008.

Shareholders should retain this Supplement for future reference.

INT-50/9602-0309

COLUMBIA FUNDS SERIES TRUST

Columbia LifeGoal® Income Portfolio

Columbia LifeGoal® Balanced Growth Portfolio

Columbia LifeGoal® Growth Portfolio

Columbia LifeGoal® Income and Growth Portfolio

(Each a “Portfolio” together the “Portfolios”)

Supplement dated March 23, 2009 to the

Prospectuses dated August 1, 2008

(Replacing supplement dated February 20, 2009)

Effective February 20, 2009, Anwiti Bahuguna, Colin Moore, Kent M. Peterson and Marie M. Schofield will co-manage the Portfolios. Accordingly, the section of the Prospectuses entitled “Management of the Portfolios – Portfolio Manager” is revised and replaced in its entirety with the following disclosure:

Portfolio Managers

Information about the Advisor’s portfolio managers who are primarily responsible for overseeing the Portfolio’s investments is shown in the table below. The SAI provides more information about each portfolio manager’s compensation, other accounts managed by each portfolio manager and each portfolio manager’s ownership of securities in the Portfolio.

Anwiti Bahuguna, PhD

Co-manager. Service with the Portfolios since 2009.

Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since 2002.

Colin Moore

Co-manager. Service with the Portfolios since 2009.

Chief Investment Officer of the Advisor; associated with the Advisor or its predecessors as an investment professional since 2002.

Kent M. Peterson, PhD

Co-manager. Service with the Portfolios since 2009.

Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since January 2006. Prior to January 2006, Mr. Peterson was a trading associate at Bridgewater Associates from 2004 to 2005.

Marie M. Schofield

Co-manager. Service with the Portfolios since 2009.

Managing Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since 1990.

Shareholders should retain this Supplement for future reference.

INT-47/10203-0309

COLUMBIA FUNDS SERIES TRUST

Columbia California Intermediate Municipal Bond Fund

Columbia Georgia Intermediate Municipal Bond Fund

Columbia Maryland Intermediate Municipal Bond Fund

Columbia Virginia Intermediate Municipal Bond Fund

(each a “Fund”, together the “Funds”)

Supplement dated March 23, 2009 to the Statement of Additional Information dated August 1, 2008,

as revised September 30, 2008

 

  1. Effective February 20, 2009, the Funds’ Statement of Additional Information is revised as follows:

All references to Gary Swayze and Kimberly Campbell as managers of the Funds are deleted.

 

  2. Effective February 20, 2009, the table entitled “Portfolio Manager(s) of the Advisor” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s)” is revised to add the following to the table:

 

Portfolio Manager

   

Fund

Maureen G. Newman

    California Intermediate Municipal Bond Fund

Maureen G. Newman

    Georgia Intermediate Municipal Bond Fund

Maureen G. Newman

    Maryland Intermediate Municipal Bond Fund

Maureen G. Newman

    Virginia Intermediate Municipal Bond Fund

 

  3. The table entitled “Performance Benchmarks” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s)” is revised to add the following to the table:

 

Portfolio Manager

  

Primary Benchmark(s)

  

Peer Group

Maureen G. Newman   Barclays Capital 3-15 Year Blend Municipal Bond Index (California Intermediate Municipal Bond Fund, Georgia Intermediate Municipal Bond Fund, Maryland Intermediate Municipal Bond Fund, Virginia Intermediate Municipal Bond Fund)  

Lipper California Intermediate Municipal Debt Classification (California Intermediate Municipal Bond Fund)

 

Lipper Other States Intermediate Municipal Debt Classification (Georgia Intermediate Municipal Bond Fund, Maryland Intermediate Municipal Bond Fund, Virginia Intermediate Municipal Bond Fund)

 

  4. The table entitled “Other Accounts Managed by the Portfolio Manager(s)” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Other Accounts” is revised to add the following to the table:

 

     Other SEC-registered
open-end and
closed-end funds		    Other pooled investment
vehicles		    Other accounts

Portfolio Manager

    Number of
accounts		    Assets    Number of
accounts		    Assets    Number of
accounts		    Assets

Maureen G. Newman*

    2    $ 365  million    0    $ 0    11    $ 3.5  million

 

* Account information is provided as of December 31, 2008.

  5. The table entitled “Other Accounts Managed by the Portfolio Manager(s) for which the Advisory Fee is Based on Performance” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Other Accounts” is revised to add the following to the table:

 

     Other SEC-registered
open-end and
closed-end funds		    Other pooled
investment vehicles		    Other accounts

Portfolio Manager

    Number of
accounts		    Assets    Number of
accounts		    Assets    Number of
accounts		    Assets

Maureen G. Newman*

    0    $ 0    0    $ 0    0    $ 0

 

* Account information is provided as of December 31, 2008.

 

  6. The table entitled “Portfolio Manager Ownership of the Funds as of March 31, 2008” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Ownership of Securities” is revised to add the following to the table:

 

Portfolio Manager

   

Fund

   

Dollar Range of Equity

Securities in the

Fund Beneficially Owned

Maureen G. Newman*

    California Intermediate Municipal Bond Fund    None

Maureen G. Newman*

    Georgia Intermediate Municipal Bond Fund    None

Maureen G. Newman*

    Maryland Intermediate Municipal Bond Fund    None

Maureen G. Newman*

    Virginia Intermediate Municipal Bond Fund    None

 

* Account information is provided as of December 31, 2008.

Shareholders should retain this Supplement for future reference.

INT-50/9506-0309

 

COLUMBIA FUNDS SERIES TRUST

Columbia Masters Global Equity Portfolio

Columbia Masters Heritage Portfolio

Columbia Masters International Equity Portfolio

(Each a “Portfolio” together the “Portfolios”)

Supplement dated March 23, 2009 to the

Prospectuses dated August 1, 2008

(Replacing supplement dated February 20, 2009)

Effective February 20, 2009, Anwiti Bahuguna, Colin Moore, Kent M. Peterson and Marie M. Schofield will co-manage the Portfolios. Accordingly, the section of the Prospectuses entitled “Management of the Portfolio – Portfolio Manager” is revised and replaced in its entirety with the following disclosure:

Portfolio Managers

Information about the Advisor’s portfolio managers who are primarily responsible for overseeing the Portfolio’s investments is shown in the table below. The SAI provides more information about each portfolio manager’s compensation, other accounts managed by each portfolio manager and each portfolio manager’s ownership of securities in the Portfolio.

Anwiti Bahuguna, PhD

Co-manager. Service with the Portfolio since 2009.

Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since 2002.

Colin Moore

Co-manager. Service with the Portfolio since 2009.

Chief Investment Officer of the Advisor; associated with the Advisor or its predecessors as an investment professional since 2002.

Kent M. Peterson, PhD

Co-manager. Service with the Portfolio since 2009.

Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since January 2006. Prior to January 2006, Mr. Peterson was a trading associate at Bridgewater Associates from 2004 to 2005.

Marie M. Schofield

Co-manager. Service with the Portfolio since 2009.

Managing Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since 1990.

Shareholders should retain this Supplement for future reference.

INT-47/10202-0309

COLUMBIA FUNDS SERIES TRUST

Columbia Masters Heritage Portfolio

Columbia Masters Global Equity Portfolio

Columbia Masters International Equity Portfolio

(each, a “Portfolio” and collectively, the “Portfolios”)

Supplement dated March 23, 2009 to the Portfolios’ Statement of Additional Information, dated

August 1, 2008, as revised September 30, 2008

Effective February 20, 2009, in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services,” the following information as it pertains to the Portfolios is revised as follows:

 

  1. The table under the heading “Portfolio Manager(s) of the Advisor” is revised and replaced in its entirety with the following:

 

Portfolio Manager

   

Portfolio

Anwiti Bahuguna, PhD

Colin Moore

Kent M. Peterson, PhD

Marie M. Schofield

   

Masters Heritage Portfolio

Masters Global Equity Portfolio

Masters International Equity Portfolio

 

  2. The table under the heading “Performance Benchmarks” is revised and replaced in its entirety with the following:

 

Portfolio Manager

  

Primary Benchmark(s)

  

Secondary

Benchmark

  

Peer Group

Anwiti Bahuguna, PhD

Colin Moore

Kent M. Peterson, PhD

Marie M. Schofield

  

MSCI World Index

(Masters Global Equity Portfolio)

   N/A   Lipper Global Multi-Cap Core Funds Classification (Masters Global Equity Portfolio)
 

 

S&P 500 Index

(Masters Heritage Portfolio)

  

 

Barclays Capital U.S. Intermediate Government/Credit Bond Index (Masters Heritage Portfolio)

  

 

Lipper Global Flexible Portfolio Funds Classification (Masters Heritage Portfolio)

 

 

MSCI EAFE Index

(Masters International Equity Portfolio)

  

 

N/A

  

 

Lipper International Multi-Cap Core Funds Classification (Masters International Equity Portfolio)

  3. The table under the heading “Other Accounts Managed by the Portfolio Manager(s)” is revised and replaced in its entirety:

 

Portfolio Manager

    Other SEC-registered
open-end and
closed-end funds		    Other pooled investment
vehicles		    Other accounts
     Number
of
accounts		    Assets    Number
of
accounts 		   Assets    Number
of
accounts		    Assets

Anwiti Bahuguna, PhD*

    8    $ 13.4 million    0    $ 0    4    $ 250,000

Colin Moore*

    4    $ 717 million    0    $ 0    3    $ 3 million

Kent M. Peterson, PhD*

    0    $ 0    0    $ 0    2    $ 363,935

Marie M. Schofield*

    0    $ 0    0    $ 0    0    $ 0

 

* Account information is provided as of December 31, 2008.

 

  4. The following table under the heading “Other Accounts Managed by the Portfolio Manager(s) for which the Advisory Fee is Based on Performance” is revised and replaced in its entirety:

 

Portfolio Manager

    Other SEC-registered
open-end and
closed-end funds		    Other pooled investment
vehicles		    Other accounts
     Number
of
accounts		    Assets    Number
of
accounts 		   Assets    Number
of
accounts		    Assets

Anwiti Bahuguna, PhD*

    0    $ 0    0    $ 0    0    $ 0

Colin Moore*

    0    $ 0    0    $ 0    0    $ 0

Kent M. Peterson, PhD*

    0    $ 0    0    $ 0    0    $ 0

Marie M. Schofield*

    0    $ 0    0    $ 0    0    $ 0

 

* Account information is provided as of December 31, 2008.

 

  5. The following table under the heading “Portfolio Manager Ownership of the Portfolio as of March 31, 2008” is revised and replaced in its entirety:

 

Portfolio Manager

   

Portfolio

   

Dollar Range of Equity

Securities in the

Portfolio Beneficially Owned

Anwiti Bahuguna, PhD*

   

Masters Heritage Portfolio

    None
  

Masters Global Equity Portfolio

    None
  

Masters International Equity Portfolio

    None

Colin Moore*

   

Masters Heritage Portfolio

    None
  

Masters Global Equity Portfolio

    None
  

Masters International Equity Portfolio

    None

Kent M. Peterson, PhD*

   

Masters Heritage Portfolio

    None
  

Masters Global Equity Portfolio

    None
  

Masters International Equity Portfolio

    $10,001-$50,000(a)
  

Masters International Equity Portfolio

    $1-$10,000(b)

Portfolio Manager

   

Portfolio

   

Dollar Range of Equity

Securities in the

Portfolio Beneficially Owned

Marie M. Schofield*

   

Masters Heritage Portfolio

    None
  

Masters Global Equity Portfolio

    None
  

Masters International Equity Portfolio

    None

 

* Account information is provided as of December 31, 2008.
(a) Excludes any notional investments.
(b) Notional investments through a deferred compensation plan.

Shareholders should retain this Supplement for future reference.

INT-50/9502-0309

COLUMBIA FUNDS SERIES TRUST

Columbia Asset Allocation Fund II

(the “Fund”)

Supplement dated March 23, 2009 to the

Prospectuses dated August 1, 2008

(Replacing supplement dated February 20, 2009)

Effective February 20, 2009, Anwiti Bahuguna, Colin Moore, Kent M. Peterson and Marie M. Schofield will co-manage the Fund. Accordingly, the table in the section of the Prospectuses entitled “Management of the Fund – Portfolio Managers” is revised and replaced in its entirety with the following disclosure:

Anwiti Bahuguna, PhD

Co-manager. Service with the Fund since 2009.

Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since 2002.

Colin Moore

Co-manager. Service with the Fund since 2009.

Chief Investment Officer of the Advisor; associated with the Advisor or its predecessors as an investment professional since 2002.

Kent M. Peterson, PhD

Co-manager. Service with the Fund since 2009.

Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since January 2006. Prior to January 2006, Mr. Peterson was a trading associate at Bridgewater Associates from 2004 to 2005.

Marie M. Schofield

Co-manager. Service with the Fund since 2009.

Managing Director of the Advisor; associated with the Advisor or its predecessors as an investment professional since 1990.

Shareholders should retain this Supplement for future reference.

INT-47/10302-0309

COLUMBIA FUNDS SERIES TRUST

Columbia Asset Allocation Fund II

(the “Fund”)

Supplement dated March 23, 2009 to the Statement of Additional Information

dated August 1, 2008, as revised September 30, 2008

 

  1.) Effective February 20, 2009, the table entitled “Portfolio Manager(s) of the Advisor” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s)” is revised to replace, in its entirety, the existing table with the following:

 

Portfolio Manager

   

Fund

Anwiti Bahuguna, PhD    Asset Allocation Fund II
Colin Moore    Asset Allocation Fund II
Kent Peterson, PhD    Asset Allocation Fund II
Marie Schofield    Asset Allocation Fund II

 

  2.) The table entitled “Performance Benchmarks” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services-Portfolio Manager(s)” is revised to replace, in its entirety, the existing table with the following:

 

Portfolio Manager/Fund(s)

   

Primary Benchmark(s)

   

Peer Group

Anwiti Bahuguna, PhD

(Asset Allocation Fund II)

   

Russell 1000 Index/Barclays Capital U.S. Aggregate Bond Index

   

Lipper Mixed Asset Target Allocation Growth Funds Classification

Colin Moore

(Asset Allocation Fund II)

   

Russell 1000 Index/Barclays Capital U.S. Aggregate Bond Index

   

Lipper Mixed Asset Target Allocation Growth Funds Classification

Kent Peterson, PhD

(Asset Allocation Fund II)

   

Russell 1000 Index/Barclays Capital U.S. Aggregate Bond Index

   

Lipper Mixed Asset Target Allocation Growth Funds Classification

Marie Schofield

(Asset Allocation Fund II)

   

Russell 1000 Index/Barclays Capital U.S. Aggregate Bond Index

   

Lipper Mixed Asset Target Allocation Growth Funds Classification

 

  3.) The table entitled “Other Accounts Managed by the Portfolio Manager(s)” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Other Accounts” is revised to replace, in its entirety, the existing table with the following:

 

     Other SEC-registered
open-end and
closed-end funds		    Other pooled investment
vehicles		    Other accounts

Portfolio Manager

    Number of
accounts		    Assets    Number of
accounts		    Assets    Number of
accounts		    Assets

Anwiti Bahuguna, PhD*

    8    $ 13.4 million    0    $ 0    4    $ 0.25 million

Colin Moore*

    4    $ 717.0 million    0    $ 0    3    $ 3.0 million

Kent Peterson, PhD*

    0    $ 0    0    $ 0    2    $ 0.4 million

Marie Schofield*

    0    $ 0    0    $ 0    0    $ 0

 

* Account information is provided as of December 31, 2008.

 

  4.) The table entitled “Other Accounts Managed by the Portfolio Manager(s) for which the Advisory Fee is Based on Performance” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Other Accounts” is revised to replace, in its entirety, the existing table with the following:

 

     Other SEC-registered
open-end and
closed-end funds		    Other pooled investment
vehicles		    Other accounts

Portfolio Manager

    Number of
accounts		    Assets    Number of
accounts		    Assets    Number of
accounts		    Assets

Anwiti Bahuguna, PhD*

    0    $ 0    0    $ 0    0    $ 0

Colin Moore*

    0    $ 0    0    $ 0    0    $ 0

Kent Peterson, PhD*

    0    $ 0    0    $ 0    0    $ 0

Marie Schofield*

    0    $ 0    0    $ 0    0    $ 0

 

* Account information is provided as of December 31, 2008.

 

  5.) The table entitled “Portfolio Manager Ownership of the Fund as of March 31, 2008” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Ownership of Securities” is revised to replace, in its entirety, the existing table with the following:

 

Portfolio Manager

   

Fund(s)

   

Dollar Range of Equity

Securities in the

Fund Beneficially Owned

Anwiti Bahuguna, PhD*

    Asset Allocation Fund II    None

Colin Moore*

    Asset Allocation Fund II    None

Kent Peterson, PhD*

    Asset Allocation Fund II    None

Marie Schofield*

    Asset Allocation Fund II    None

 

* Account information is provided as of December 31, 2008.

Shareholders should retain this Supplement for future reference.

INT-50/9702-0309

COLUMBIA FUNDS SERIES TRUST

Columbia Large Cap Index Fund

Columbia Mid Cap Index Fund

Columbia Small Cap Index Fund

Columbia Large Cap Enhanced Core Fund

(each a “Fund”, together the “Funds”)

Supplement dated March 23, 2009 to the Statement of Additional Information dated July 1, 2008

 

  1.) Effective February 20, 2009, the table entitled “Portfolio Manager(s) of the Advisor” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s)” is revised to replace, in its entirety, the existing table with the following:

 

Portfolio Manager

   

Fund

Cheryl D’Hollander    Large Cap Index Fund
   Mid Cap Index Fund
   Small Cap Index Fund
Peter S. Joo    Large Cap Index Fund
   Mid Cap Index Fund
   Small Cap Index Fund
Brian M. Condon    Large Cap Enhanced Core Fund

 

  2.) The table entitled “Performance Benchmarks” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s)” is revised to replace, in its entirety, the existing table with the following:

 

Portfolio Manager/Fund(s)

  

Primary Benchmark(s)

  

Peer Group(s)

Cheryl D’Hollander

(Large Cap Index Fund, Mid Cap Index Fund, Small Cap Index Fund)

  

S&P 500 Index

 

S&P MidCap 400 Index

S&P Small Cap 600 Index

  

Lipper S&P 500 Index Objective Funds Classification

Lipper Mid-Cap Core Funds Classification

Lipper Small-Cap Core Funds Classification

Peter S. Joo

(Large Cap Index Fund, Mid Cap Index Fund, Small Cap Index Fund)

  

S&P 500 Index

 

S&P MidCap 400 Index

S&P Small Cap 600 Index

  

Lipper S&P 500 Index Objective Funds Classification

Lipper Mid-Cap Core Funds Classification

Lipper Small-Cap Core Funds Classification

Brian M. Condon

(Large Cap Enhanced Core Fund)

   S&P 500 Index   Lipper S&P 500 Index Objective Funds Classification

 

  3.) The table entitled “Other Accounts Managed by the Portfolio Manager(s)” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Other Accounts” is revised to replace, in its entirety, the existing table with the following:

 

     Other SEC-registered
open-end and
closed-end funds		    Other pooled investment
vehicles		    Other accounts

Portfolio Manager

    Number of
accounts		    Assets    Number of
accounts		    Assets    Number of
accounts		    Assets

Cheryl D’Hollander*

    0    $ 0    1    $ 90.2 million    16    $ 3.0 million

Peter S. Joo*

    0    $ 0    1    $ 90.2 million    14    $ 3.0 million

Brian M. Condon*

    0    $ 0    1    $ 25.0 million    7    $ 1.0 million

 

* Account information is provided as of December 31, 2008.

 

  4.) The table entitled “Other Accounts Managed by the Portfolio Manager(s) for which the Advisory Fee is Based on Performance” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Other Accounts” is revised to replace, in its entirety, the existing table with the following:

 

     Other SEC-registered
open-end and
closed-end funds		    Other pooled investment
vehicles		    Other accounts

Portfolio Manager

    Number of
accounts		    Assets    Number of
accounts		    Assets    Number of
accounts		    Assets

Cheryl D’Hollander*

    0    $ 0    0    $ 0    0    $ 0

Peter S. Joo*

    0    $ 0    0    $ 0    0    $ 0

Brian M. Condon*

    0    $ 0    1    $ 25.0 million    0    $ 0

 

* Account information is provided as of December 31, 2008.

 

  5.) The table entitled “Portfolio Manager Ownership of the Funds as of February 29, 2008” in the section entitled “Investment Advisory and Other Services – The Advisor and Investment Advisory Services - Portfolio Manager(s) – Ownership of Securities” is revised to replace, in its entirety, the existing table with the following:

 

Portfolio Manager

   

Fund(s)

   

Dollar Range of Equity

Securities in the

Fund Beneficially Owned

Cheryl D’Hollander*    Large Cap Index Fund    None
   Mid Cap Index Fund    None
   Small Cap Index Fund    None
Peter S. Joo*    Large Cap Index Fund    None
   Mid Cap Index Fund    None
   Small Cap Index Fund    None
Brian M. Condon*    Large Cap Enhanced Core Fund    None

 

* Account information is provided as of December 31, 2008.

Shareholders should retain this Supplement for future reference.

INT-50/9604-0309