497 1 d02-0001.txt STANDISH, AYER & WOOD INVESTMENT TRUST SUPPLEMENT dated April 19, 2002 To the PROSPECTUS of Standish Select Value Asset Fund Standish Small Cap Growth Fund (Service Class Shares) Dated: January 28, 2002 -------------------------------------------------------------------------------- Prospectus The following supplements the information presented under the corresponding section of the prospectus. The Investment Adviser The following replaces the information in the table under the section entitled "Fund Managers" for the Standish Select Value Asset Fund: -------------------------------------------------------------------------------- Fund Fund Managers Positions during the past five years ................................................................................ Select Value Asset Fund David H. Cameron, CFA Director of Standish Mellon, Dave is the firm's chief equity officer and oversees the firm's domestic and international investment strategies. -------------------------------------------------------------------------------- SUPPLEMENT dated April 19, 2002 To the PROSPECTUS of Standish Select Value Fund Standish Small Cap Value Fund Standish Small Cap Growth Fund (Institutional Class Shares) Standish Small Capitalization Equity Fund Standish International Equity Fund Standish International Small Cap Fund Dated: January 28, 2002 -------------------------------------------------------------------------------- Prospectus The following supplements the information presented under the corresponding section of the prospectus. The Investment Adviser The following replaces the information in the table under the section entitled "Fund Managers" for the Standish Select Value Fund: -------------------------------------------------------------------------------- Fund Fund Managers Positions during the past five years ................................................................................ Select Value Fund David H. Cameron, CFA Director of Standish Mellon, Dave is the firm's chief equity officer and oversees the firm's domestic and international investment strategies. --------------------------------------------------------------------------------