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NAPIER FUND, INC. &lt;/b&gt;&lt;/p&gt; &lt;p style="margin-top:12px;margin-bottom:0px" align="center"&gt;Supplement dated August&amp;nbsp;1, 2013 to the combined Prospectus (the &amp;#8220;Prospectus&amp;#8221;) dated May&amp;nbsp;1, 2013 for the following Series: &lt;/p&gt; &lt;p style="font-size:12px;margin-top:0px;margin-bottom:0px"&gt;&amp;nbsp;&lt;/p&gt; &lt;table cellspacing="0" cellpadding="0" width="100%" border="0" style="BORDER-COLLAPSE:COLLAPSE" align="center"&gt;   &lt;tr&gt; &lt;td width="51%"&gt;&lt;/td&gt; &lt;td valign="bottom" width="2%"&gt;&lt;/td&gt; &lt;td width="47%"&gt;&lt;/td&gt;&lt;/tr&gt;   &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;Small Cap Series &amp;#150; Class A&lt;/b&gt;&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;b&gt;Core Bond Series&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;Commodity Series&lt;/b&gt;&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;b&gt;Core Plus Bond Series&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;Technology Series&lt;/b&gt;&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;b&gt;Real Estate Series &amp;#150; Class S and I&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;International Series &amp;#150; Class S and I&lt;/b&gt;&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;b&gt;Emerging Markets Series&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;Life Sciences Series&lt;/b&gt;&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;b&gt;Inflation Focus Equity Series&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;World Opportunities Series &amp;#150; Class A&lt;/b&gt;&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;b&gt;Diversified Tax Exempt Series&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;High Yield Bond Series &amp;#150; Class S and I&lt;/b&gt;&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;b&gt;New York Tax Exempt Series&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr&gt; &lt;td valign="top"&gt; &lt;div style="margin-left:1.00em; text-indent:-1.00em"&gt;&lt;b&gt;Global Fixed Income Series &amp;#150; Class S and I&lt;/b&gt;&lt;/div&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;font size="1"&gt;&amp;nbsp;&amp;nbsp;&lt;/font&gt;&lt;/td&gt; &lt;td valign="bottom"&gt;&lt;b&gt;Ohio Tax Exempt Series&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt; &lt;p style="margin-top:14px;margin-bottom:0px"&gt;&lt;b&gt;This supplement provides new and additional information beyond that contained in the Prospectus and should be read in conjunction with the Prospectus. &lt;/b&gt;&lt;/p&gt;&lt;p style="font-size:6px;margin-top:0px;margin-bottom:0px"&gt;&amp;nbsp;&lt;/p&gt; &lt;table style="BORDER-COLLAPSE:COLLAPSE" border="0" cellpadding="0" cellspacing="0" width="100%"&gt; &lt;tr&gt; &lt;td width="4%" valign="top" align="left"&gt;1.&lt;/td&gt; &lt;td align="left" valign="top"&gt;Effective August&amp;nbsp;1, 2013, the shares of the Core Plus Bond Series, which previously did not have a class name designation, have been redesignated as Class S Shares. 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