485APOS

As filed with the Securities and Exchange Commission on September 26, 2008

Registration Nos. 33-29180
and 811-05823

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM N-1A

REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933
POST-EFFECTIVE AMENDMENT NO. 36

AND

REGISTRATION STATEMENT UNDER THE INVESTMENT COMPANY ACT OF 1940
AMENDMENT NO. 38

DOMINI SOCIAL INVESTMENT TRUST

(Exact Name of Registrant as Specified in Charter)

536 Broadway, 7th Floor, New York, New York 10012
(Address of Principal Executive Offices)

Registrant’s Telephone Number, including Area Code: 212-217-1100

Amy Domini Thornton
Domini Social Investments LLC
536 Broadway, 7th Floor
New York, New York 10012
(Name and Address of Agent for Service)

Copy To:
Roger P. Joseph, Esq.
Bingham McCutchen LLP
One Federal Street
Boston, Massachusetts 02110

It is proposed that this filing will become effective on November 28, 2008,
pursuant to paragraph (a) (1) of Rule 485.

EXPLANATORY NOTE

Post-Effective Amendment No. 35 (“PEA No. 35”) to the Registration Statement on Form N-1A for the Domini Social Investment Trust (the “Registrant”) was filed with the Commission on September 26, 2008 (Accession No. 0000950123-08-011420) pursuant to paragraph (a)(1) of Rule 485 under the Securities Act of 1933 (“Rule 485”). When PEA No. 35 was filed, the EDGAR filing agent created new series and class identifiers in error. PEA No. 35 should have reflected only new class identifiers for the Registrant’s existing series.

This Post-Effective Amendment No. 36 (“PEA No. 36”) to the Registrant’s Registration Statement on Form N-1A is being filed with the Commission solely for the purpose of reflecting new class identifiers applicable to the existing series of the Registrant. PEA No. 36 establishes new identifiers for Class A shares and Institutional share classes of the existing series of the Registrant, as applicable. This PEA No. 36 does not modify any other information previously filed in PEA No. 35.

It is proposed that this PEA No. 36 become effective on November 28, 2008 pursuant to paragraph (a)(1) of Rule 485.


PROSPECTUS	NOVEMBER 28, 2008

Domini Social Equity Fund^®

investor shares, class r shares, class a shares
& institutional shares

Domini European Social Equity Fund^SM

investor shares & class a shares

Domini European PacAsia Social Equity Fund^SM

investor shares & class a shares

Domini PacAsia Social Equity Fund^SM

investor shares & class a shares

Domini social bond fund^®

investor shares

As with all mutual funds, the Securities and Exchange Commission has not judged whether these funds are good investments or whether the information in this prospectus is truthful and complete. Anyone who indicates otherwise is committing a crime.

TABLE OF CONTENTS [TO BE UPDATED BY AMENDMENT]


2		Introduction

3		The Funds at a Glance
		A summary of each fund’s investment objective, principal investment strategies, primary risks, performance, and expenses

3		Domini Social Equity Fund

8		Domini European Social Equity Fund

13		Domini European PacAsia Social Equity Fund

18		Domini PacAsia Social Equity Fund

23		Domini Social Bond Fund

27		Fund Fees and Expenses

35		Summary of Primary Risks

39		Socially Responsible Investing

42		Additional Investment Strategies, Risk, and Portfolio Holdings Information

50		Who Manages the Funds?

55		The Funds’ Distribution Plan

A-1		Shareholder Manual
		Information about buying, selling, and exchanging shares of the Funds, how Fund shares are valued, Fund distributions, the tax consequences of an investment in a Fund, and how applicable sales charges are calculated.

B-1		Financial Highlights

C-1		For Additional Information
EX-99.D.8: AMENDMENT TO SUBMANAGEMENT AGREEMENT
EX-99.H.5: FORM OF EXPENSE LIMITATION AGREEMENT
EX-99.H.15: SHAREHOLDER SERVICES AGREEMENT
EX-99.P.3: CODE OF ETHICS
EX-99.P.4: CODE OF ETHICS

INTRODUCTION

Each Fund described in this prospectus has its own investment strategy and risk/reward profile. This prospectus relates to the Investor shares, Class A shares, Institutional shares, and Class R shares of the Domini Funds, as applicable. Each Fund is a diversified fund. Information on each Fund, including risk factors for investing in the Fund, can be found on the pages following this introduction.

The investment manager to each Fund is Domini Social Investments LLC (“Domini” or the “Manager”). The day-to-day portfolio management of each Fund is provided by an investment submanager. Information regarding Domini and the submanagers is included under the heading entitled “Who Manages the Funds?” in this prospectus.

Mutual funds are not bank deposits and are not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Because you could lose money by investing in these Funds, be sure to read all risk disclosures carefully before investing.

THE FUNDS AT A GLANCE

Domini Social Equity Fund

Investment Objective

The Domini Social Equity Fund seeks to provide its shareholders with long-term total return.

Primary Investment Strategies

The Domini Social Equity Fund (the Fund) primarily invests in stocks of U.S. companies. The Fund’s investment approach incorporates Domini’s social and environmental standards.

Under normal circumstances, at least 80% of the Fund’s assets will be invested in equity securities and related investments with similar economic characteristics. The Fund will provide shareholders with at least 60 days’ prior written notice if it changes this 80% policy. The Fund may invest in companies of any capitalization, but under normal market conditions will invest primarily in mid-cap to large-cap U.S. companies. Domini defines mid- and large-cap companies to be those companies with a market capitalization at the time of purchase between $2 and $10 billion, or greater than $10 billion, respectively. It is expected that at least 80% of the Fund’s assets will be invested in mid- to large-cap companies under normal market conditions.

While the Fund’s submanager expects that most of the securities held by the Fund will be traded in U.S. securities markets, some could be traded outside the region (or in equivalent shares such as American Depository Receipts).

Domini evaluates the Fund’s potential investments against its social and environmental standards based on the businesses in which they engage, as well as on the quality of their relations with key stakeholders, including communities, customers, ecosystems, employees, investors, and suppliers. For additional information about the standards Domini uses to evaluate potential investments and the securities held by the Fund, and certain limitations on investments, please see “Socially Responsible Investing.” Domini reserves the right to alter its social and environmental standards or the application of those standards, or to add new standards, at any time without shareholder approval.

The Fund’s submanager uses a proprietary quantitative model to select investments from among those which Domini has notified the submanager are eligible for investment. The submanager seeks to invest in securities that it believes are undervalued by the market and favorably positioned according to certain market indicators such as earnings growth and price momentum. The submanager seeks to add value through stock selection and manage risk through portfolio construction. Portfolio sector weights are managed relative to the Fund’s benchmark; consequently, the

Fund may invest a significant percentage of its assets in a single sector if that sector represents a large proportion of the benchmark.

Under normal circumstances, the submanager will seek to remove a security from the Fund’s portfolio within 90 days after receiving a notification from Domini that an investment in such security is not consistent with its social and environmental standards. Updated investment eligibility notifications are normally provided to the submanager on a quarterly basis. Such notifications may cause the Fund to dispose of a security at a time when it may be disadvantageous to do so. At Domini’s discretion, investments that are not consistent with Domini’s social and environmental standards may be retained by the Fund to support shareholder advocacy activities.

Primary Risks

The Fund’s total return, like the stock market in general, may fluctuate widely. As with any mutual fund, you could lose money on your investment in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed. The share price of the Fund normally changes daily based on changes in the value of the securities that the Fund holds. There can be no guarantee that the Fund will be able to achieve its investment objective.

The principal risks of investing in the Fund are listed below:

Foreign Investing Risk

Information Risk

Market Risk

Mid- to Large-Cap Companies Risk

Portfolio Turnover Risk

Sector Concentration Risk

Socially Responsible Investing Risk

Style Risk

Please see “Summary of Primary Risks” following the “Funds at a Glance” section for a description of these risks. There may be other risks that are not listed that could cause the value of your investment in the Fund to decline and that could prevent the Fund from achieving its stated investment objective. This Prospectus does not describe all of the risks of every technique, investment strategy, or temporary defensive position that the Fund may use. For additional information regarding the risks of investing in the Fund, please refer to the Statement of Additional Information.

4 The Funds at a Glance — Domini Social Equity Fund

Past Performance

The bar chart below and the following table provide an indication of the risks of investing in the Domini Social Equity Fund. The bar chart shows how returns of the Fund’s Investor shares have varied from one calendar year to the next. The table shows how the average annual total returns of each class of the Fund’s shares compare with those of the Standard & Poor’s 500 Index (S&P 500), a broad-based index.

The Domini Social Equity Fund currently employs an active investment management strategy. On November 28, 2008, the Class A shares and Institutional shares acquired the assets and liabilities of Domini Social Equity Portfolio and Domini Institutional Social Equity Fund, respectively. Performance for those classes shown for periods prior to November 28, 2008, is the performance of the Investor shares. This performance has not been adjusted to reflect the lower expenses applicable to Class A shares and Institutional shares. Prior to November 30, 2006, the Domini Social Equity Trust, the Master Trust in which the Domini Social Equity Fund formerly invested substantially all its assets, was an index fund submanaged by SSgA Funds Management, Inc.

Please note that this information represents past performance (before and after taxes), and is not necessarily an indication of how the Fund will perform in the future.

The Funds at a Glance — Domini Social Equity Fund 5

TOTAL RETURN FOR YEARS ENDED DECEMBER 31

This bar chart shows how the performance of the Domini Social Equity Fund’s Investor shares has varied over the last ten calendar years. The returns of the Fund’s Institutional, Class A, and Class R shares will differ from the returns of the Investor shares shown in the bar chart because of the lower expenses applicable to those share classes.

[TO BE UPDATED BY AMENDMENT — DELETE 1997 AND ADD 2007 COLUMN]

Best quarter covered by the bar chart above: XX.XX% (quarter ended XX/XX/XX)

Worst quarter covered by the bar chart above: -XX.XX% (quarter ended XX/XX/XX)

Year-to-date performance as of 9/30/08: XX.XX%

6 The Funds at a Glance — Domini Social Equity Fund

AVERAGE ANNUAL TOTAL RETURNS FOR THE PERIODS ENDED 12/31/07

The table below shows the average annual total returns of each class of shares of the Domini Social Equity Fund in comparison to the S&P 500. In addition, after-tax returns are provided for Investor shares. After-tax returns for Institutional, Class A, and Class R shares will vary. The after-tax returns shown in the table are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes, the effect of phaseouts of certain exemptions, deductions, and credits at various income levels, or the impact of the federal alternative minimum tax.

Please note:


	•	Actual after-tax returns depend on your tax situation and may differ from those shown.

	•	After-tax returns are not relevant if you hold your shares through a tax-deferred arrangement, such as a 401(k) plan or an IRA.

Year

Years

Domini Social Equity Fund

Investor Shares:

Return Before Taxes

Return After Taxes on Distributions

Return After Taxes on Distributions and Sale of shares*

Class A shares Return Before Taxes**

Institutional shares Return Before Taxes

Class R shares Return Before Taxes

S&P 500*** (reflects no deduction for fees, expenses, or taxes)


*	The calculation of the Investor shares’ return after taxes on distributions and sale of Investor shares assumes a complete redemption at the end of the periods shown in the table and that the shareholder has sufficient capital gains of the same character from other investments to offset any capital losses from the redemption so that the shareholder may deduct the capital losses in full.


**	The performance for Class A, Institutional, and Class R shares includes the performance of the Investor shares for periods prior to November 28, 2008, with respect to Clas A shares and Institutional shares and November 28, 2003, with respect to Class R shares. This performance has not been adjusted to take into account the lower expenses applicable to Class A, Institutional, and Class R shares.


***	The Standard and Poor’s 500 Index (S&P 500) is an unmanaged index of common stocks. You cannot invest directly in an index.

The Funds at a Glance — Domini Social Equity Fund 7

Domini European Social Equity Fund

Investment Objective

The Domini European Social Equity Fund seeks to provide its shareholders with long-term total return.

Primary Investment Strategies

The Domini European Social Equity Fund (the Fund) primarily invests in stocks of European companies. The Fund’s investment approach incorporates Domini’s social and environmental standards.

Under normal circumstances, at least 80% of the Fund’s assets will be invested in equity securities and related investments of European companies. For purposes of this policy, European companies include (1) companies organized or principally traded in a European country; (2) companies having at least 50% of their assets in, or deriving 50% or more of their revenues or profits from, a European country; (3) issuers who are European governments and agencies or underlying instrumentalities of European governments; and (4) issuers whose economic fortunes and risks are otherwise linked with a European market (as determined by the Fund’s submanager). For purposes of this policy, European countries include those countries represented by companies in the MSCI All Country Europe Index. The Fund will provide shareholders with at least 60 days’ prior written notice if it changes this 80% policy.

The Fund may invest in companies of any capitalization, but under normal market conditions will invest primarily in mid-to large-cap companies. Domini defines mid- and large-cap companies to be those companies with a market capitalization at the time of purchase between $2 and $10 billion, or greater than $10 billion, respectively. It is expected that at least 80% of the Fund’s assets will be invested in mid- to large-cap companies under normal market conditions.

The Fund may invest in securities of both developed and emerging market countries. While the Fund’s submanager expects that most of the securities held by the Fund will be traded in European securities markets (or in equivalent shares such as American Depository Receipts, European Depository Receipts, Global Depository Receipts, or other securities representing underlying shares of foreign companies), some could be traded outside the region.

Domini reserves the right to alter its social and environmental standards or the application of those standards, or to add new standards, at any time without shareholder approval.

The Fund’s submanager uses a proprietary quantitative model to select investments from among those which Domini has notified the subamanger are eligible for investment. The submanager seeks to invest in securities that it believes are undervalued by the market and favorably positioned according to certain market indicators such as earnings growth and price momentum. The submanager seeks to add value through stock selection and manage risk through portfolio construction. Portfolio sector weights are managed relative to the Fund’s benchmark; consequently, the Fund may invest a significant percentage of its assets in a single sector if that sector represents a large proportion of the benchmark.

The Funds at a Glance — Domini European Social Equity Fund 9

Primary Risks

The principal risks of investing in the Fund are listed below:

Country Risk

Currency Risk

Emerging Markets Risk

Foreign Investing Risk

Geographic Concentration Risk

Information Risk

Market Risk

Mid- to Large-Cap Companies Risk

Portfolio Turnover Risk

Sector Concentration Risk

Socially Responsible Investing Risk

Style Risk

10 The Funds at a Glance — Domini European Social Equity Fund

Past Performance

The bar chart below and the following table provide an indication of the risks of investing in the Domini European Social Equity Fund. The bar chart shows how returns of the Fund’s shares have varied from one calendar year to the next. The table shows how the average annual total returns of the Fund’s shares compare with those of the MSCI Europe Index (MSCI Europe), a broad-based index.

On November 28, 2008, the Class A shares acquired the assets and liabilities of Domini European Social Equity Portfolio. Performance shown for Class A shares for periods prior to November 28, 2008, is the performance of the Investor shares. This performance has not been adjusted to reflect the lower expenses applicable to Class A shares.

Please note that this information represents past performance (before and after taxes), and is not necessarily an indication of how the Fund will perform in the future.

TOTAL RETURN FOR YEARS ENDED DECEMBER 31

This bar chart shows how the performance of the Domini European Social Equity Fund’s Investor shares has varied over the last two calendar years. The returns of the Fund’s Class A shares will differ from the returns of the Investor shares shown in the bar chart because of the lower expenses applicable to Class A shares.

TO BE UPDATED BY AMENDMENT — ADD 2007

Best quarter covered by the bar chart above: XX.XX%
(quarter ended XX/XX/XX)

Worst quarter covered by the bar chart above: XX.XX%
(quarter ended XX/XX/XX)

Year-to-date performance as of 9/30/08: XX.XX%

The Funds at a Glance — Domini European Social Equity Fund 11

AVERAGE ANNUAL TOTAL RETURNS FOR THE PERIOD ENDED 12/31/07

The table below shows the average annual total returns of the Domini European Social Equity Fund in comparison to the MSCI Europe Index. In addition, after-tax returns are provided for Investor shares. After-tax returns for Class A shares will vary. The after-tax returns shown in the table are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes, the effect of phaseouts of certain exemptions, deductions, and credits at various income levels, or the impact of the federal alternative minimum tax.

Please note:


	•	Actual after-tax returns depend on your tax situation and may differ from those shown.

	•	After-tax returns are not relevant if you hold your shares through a tax-deferred arrangement, such as a 401(k) plan or an IRA.

Since

Inception

Year

(10/3/05)

Domini European Social Equity Fund

Investor Shares:

Return Before Taxes

Return After Taxes on Distributions

Return After Taxes on Distributions and Sale of shares*

Class A shares Return Before Taxes**

MSCI Europe *** (reflects no deduction for fees, expenses, or taxes)


*	The calculation of the Fund’s return after taxes on distributions and sale of shares assumes a complete redemption at the end of the periods shown in the table and that the shareholder has sufficient capital gains of the same character from other investments to offset any capital losses from the redemption so that the shareholder may deduct the capital losses in full.


**	The performance for Class A shares includes the performance of the Investor shares for periods prior to November 28, 2008. This performance has not been adjusted to take into account the lower expenses applicable to Class A shares.


***	The Morgan Stanley Capital International Europe Index (MSCI Europe) is an unmanaged index of common stocks. You cannot invest directly in an index.

12 The Funds at a Glance — Domini European Social Equity Fund

Domini European PacAsia Social Equity Fund
(formerly Domini EuroPacific Social Equity Fund)

Investment Objective

The Domini European PacAsia Social Equity Fund seeks to provide its shareholders with long-term total return.

Primary Investment Strategies

The Domini European PacAsia Social Equity Fund (the Fund) primarily invests in stocks of European and Asia-Pacific companies. The Fund’s investment approach incorporates Domini’s social and environmental standards.

Under normal circumstances, at least 80% of the Fund’s assets will be invested in equity securities and related investments of European and Asia-Pacific companies. For purposes of this policy, these companies may include, but are not limited to, (1) companies organized or principally traded in a European or Asia-Pacific country; (2) companies having at least 50% of their assets in, or deriving 50% or more of their revenues or profits from, a European or Asia-Pacific country; (3) issuers who are European or Asia-Pacific governments and agencies or underlying instrumentalities of European or Asia-Pacific governments; and (4) issuers whose economic fortunes and risks are otherwise linked with a European or Asia-Pacific market (as determined by the Fund’s submanager). For purposes of this policy, European and Asia-Pacific countries include those countries represented by companies in the MSCI All Country Europe Index and MSCI All Country Asia Pacific Index, respectively. The Fund will provide shareholders with at least 60 days’ prior notice if it changes this 80% policy.

The Fund may invest in companies of any capitalization but under normal market conditions will invest primarily in mid-to large-cap companies. Domini defines mid- and large-cap companies to be those companies with a market capitalization at the time of purchase between $2 and $10 billion, or greater than $10 billion, respectively. It is expected that at least 80% of the Fund’s assets will be invested in mid- to large-cap companies under normal market conditions.

The Fund may invest in securities of both developed and emerging market countries. While the Fund’s submanager expects that most of the securities held by the Fund will be traded in European or Asia-Pacific securities markets (or in equivalent shares such as American Depository Receipts, European Depository Receipts, Global Depository Receipts, or other securities representing underlying shares of foreign companies), some could be traded outside these regions.

Domini evaluates the Fund’s potential investments against its social and environmental standards based on the businesses in which they engage, as

well as on the quality of their relations with key stakeholders, including communities, customers, ecosystems, employees, investors, and suppliers. For additional information about the standards Domini uses to evaluate potential investments and the securities held by the Fund, and certain limitations on investments, please see “Socially Responsible Investing.” Domini reserves the right to alter its social and environmental standards or the application of those standards, or to add new standards, at any time without shareholder approval.

14 The Funds at a Glance — Domini European PacAsia Social Equity Fund

Primary Risks

The principal risks of investing in the Fund are listed below:

Country Risk

Currency Risk

Emerging Markets Risk

Foreign Investing Risk

Geographic Concentration Risk

Information Risk

Market Risk

Mid- to Large-Cap Companies Risk

Portfolio Turnover Risk

Sector Concentration Risk

Socially Responsible Investing Risk

Style Risk

The Funds at a Glance — Domini European PacAsia Social Equity Fund 15

Past Performance

The bar chart below and the following table provide an indication of the risks of investing in the Domini European PacAsia Social Equity Fund. The bar chart shows how returns of the Fund’s shares have varied from one calendar year to the next. The table shows how the average annual total returns of the Fund’s shares compare with those of the MSCI EAFE Index (MSCI EAFE), a broad-based index.

On November 28, 2008, the Class A shares acquired the assets and liabilities of Domini European PacAsia Social Equity Portfolio. Performance for Class A shares shown for periods prior to November 28, 2008, is the performance of the Investor shares. This performance has not been adjusted to reflect the lower expenses applicable to Class A shares.

Please note that this information represents past performance (before and after taxes), and is not necessarily an indication of how the Fund will perform in the future.

TOTAL RETURN FOR YEAR ENDED DECEMBER 31

This bar chart shows how the performance of the Domini European PacAsia Social Equity Fund’s Investor shares has varied over the last calendar year. The returns of the Fund’s Class A shares will differ from the returns of the Investor shares shown in the bar chart because of the lower expenses applicable to Class A shares.

TO BE UPDATED BY AMENDMENT — REPLACE 2006 WITH 2007

Best quarter covered by the bar chart above: XX.XX%
(quarter ended XX/XX/XX)

Worst quarter covered by the bar chart above: XX.XX%
(quarter ended XX/XX/XX)

Year-to-date performance as of 9/30/08: XX.XX%

16 The Funds at a Glance — Domini European PacAsia Social Equity Fund

AVERAGE ANNUAL TOTAL RETURNS FOR THE PERIOD ENDED 12/31/07

The table below shows the average annual total returns of the Domini European PacAsia Social Equity Fund in comparison to the MSCI EAFE. In addition, after-tax returns are provided for Investor shares. After-tax returns for Class A shares will vary. The after-tax returns shown in the table are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes, the effect of phaseouts of certain exemptions, deductions, and credits at various income levels, or the impact of the federal alternative minimum tax.

Please note:


	•	Actual after-tax returns depend on your tax situation and may differ from those shown.


	•	After-tax returns are not relevant if you hold your shares through a tax-deferred arrangement, such as a 401(k) plan or an IRA.

Since

Inception

Year

(12/27/06)

Domini European PacAsia Social Equity Fund

Investor Shares:

Return Before Taxes

Return After Taxes on Distributions

Return After Taxes on Distributions and Sale of shares*

Class A shares Return Before Taxes**

MSCI EAFE (reflects no deduction for fees, expenses, or taxes)***


*	The calculation of the Fund’s return after taxes on distributions and sale of shares assumes a complete redemption at the end of the periods shown in the table and that the shareholder has sufficient capital gains of the same character from other investments to offset any capital losses from the redemption so that the shareholder may deduct the capital losses in full.


**	The performance for Class A shares includes the performance of the Investor shares for periods prior to November 28, 2008. This performance has not been adjusted to take into account the lower expenses applicable to Class A shares.


***	The Morgan Stanley Capital International Europe Australiasia Far East Index (MSCI EAFE) is an unmanaged index of common stocks. You cannot invest directly in an index.

The Funds at a Glance — Domini European PacAsia Social Equity Fund 17

Domini PacAsia Social Equity Fund

Investment Objective

The Domini PacAsia Social Equity Fund seeks to provide its shareholders with long-term total return.

Primary Investment Strategies

The Domini PacAsia Social Equity Fund (the Fund) primarily invests in stocks of Asia-Pacific companies. The Fund’s investment approach incorporates Domini’s social and environmental standards.

Under normal circumstances, at least 80% of the Fund’s assets will be invested in equity securities and related investments of companies tied economically to the Asia-Pacific region. For purposes of this policy, these companies may include, but are not limited to, (1) companies organized or principally traded in an Asia-Pacific country; (2) companies having at least 50% of their assets in, or deriving 50% or more of their revenues or profits from, an Asia-Pacific country; (3) issuers who are Asia-Pacific governments and agencies or underlying instrumentalities of Asia-Pacific governments; and (4) issuers whose economic fortunes and risks are otherwise linked with an Asia-Pacific market (as determined by the Fund’s submanager). For purposes of this policy, Asia-Pacific countries include those countries represented by companies in the MSCI All Country Asia Pacific Index. The Fund will provide shareholders with at least 60 days’ prior notice if it changes this 80% policy.

The Fund may invest in companies of any capitalization but under normal market conditions will invest primarily in mid-to large-cap companies. Domini defines mid- and large-cap companies to be those companies with market capitalization at the time of purchase between $2 and $10 billion, or greater than $10 billion, respectively. It is expected that at least 80% of the Fund’s assets will be invested in mid- to large-cap companies under normal market conditions.

The Fund may invest in securities of both developed and emerging market countries. While the Fund’s submanager expects that most of the securities held by the Fund will be traded in Asia-Pacific securities markets (or in equivalent shares such as American Depository Receipts, European Depository Receipts, Global Depository Receipts, or other securities representing underlying shares of foreign companies), some could be traded outside the region.

limitations on investments, please see “Socially Responsible Investing.” Domini reserves the right to alter its social and environmental standards or the application of those standards, or to add new standards, at any time without shareholder approval.

The Funds at a Glance — Domini PacAsia Social Equity Fund 19

Primary Risks

The principal risks of investing in the Fund are listed below:

Country Risk

Currency Risk

Emerging Markets Risk

Foreign Investing Risk

Geographic Concentration Risk

Information Risk

Market Risk

Mid- to Large-Cap Companies Risk

Portfolio Turnover Risk

Sector Concentration Risk

Socially Responsible Investing Risk

Style Risk

20 The Funds at a Glance — Domini PacAsia Social Equity Fund

Past Performance

The bar chart below and the following table provide an indication of the risks of investing in the Domini PacAsia Social Equity Fund. The bar chart shows how returns of the Fund’s shares have varied from one calendar year to the next. The table shows how the average annual total returns of the Fund’s shares compare with those of the MSCI All Country Asia Pacific Index (MSCI AC Asia Pacific), a broad-based index.

On November 28, 2008, the Class A shares acquired the assets and liabilities of Domini PacAsia Social Equity Portfolio. Performance for Class A shares shown for periods prior to November 28, 2008, is the performance of the Investor shares. This performance has not been adjusted to reflect the lower expenses applicable to Class A shares.

Please note that this information represents past performance (before and after taxes), and is not necessarily an indication of how the Fund will perform in the future.

TOTAL RETURN FOR YEAR ENDED DECEMBER 31

This bar chart shows how the performance of the Domini PacAsia Social Equity Fund’s Investor shares has varied over the last calendar year. The returns of the Fund’s Class A shares will differ from the returns of the Investor shares shown in the bar chart because of the lower expenses applicable to Class A shares.

[TO BE UPDATED BY AMENDMENT — REPLACE 2006 WITH 2007]

Best quarter covered by the bar chart above: XX.XX%

(quarter ended XX/XX/XX)

Worst quarter covered by the bar chart above: XX.XX%
(quarter ended XX/XX/XX)

Year-to-date performance as of 9/30/08: XX.XX%

The Funds at a Glance — Domini PacAsia Social Equity Fund 21

AVERAGE ANNUAL TOTAL RETURNS FOR THE PERIOD ENDED 12/31/07

The table below shows the average annual total returns of the Domini PacAsia Social Equity Fund in comparison to the MSCI AC Asia Pacific. In addition, after-tax returns are provided for Investor shares. After-tax returns for Class A shares will vary. The after-tax returns shown in the table are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes, the effect of phaseouts of certain exemptions, deductions, and credits at various income levels, or the impact of the federal alternative minimum tax.

Please note:


	•	Actual after-tax returns depend on your tax situation and may differ from those shown.


	•	After-tax returns are not relevant if you hold your shares through a tax-deferred arrangement, such as a 401(k) plan or an IRA.

Since

Inception

Year

(12/27/06)

Domini PacAsia Social Equity Fund

Investor Shares:

Return Before Taxes

Return After Taxes on Distributions

Return After Taxes on Distributions and Sale of shares*

Class A shares Return Before Taxes**

MSCI AC Asia Pacific ***(reflects no deduction for fees, expenses, or taxes)


*	The calculation of the Fund’s return after taxes on distributions and sale of shares assumes a complete redemption at the end of the periods shown in the table and that the shareholder has sufficient capital gains of the same character from other investments to offset any capital losses from the redemption so that the shareholder may deduct the capital losses in full.


**	The performance for Class A shares includes the performance of the Investor shares for periods prior to November 28, 2008. This performance has not been adjusted to take into account the lower expenses applicable to Class A shares.


***	The Morgan Stanley Capital International All Country Asia Pacific Index (MSCI AC Asia Pacific) is an unmanaged index of common stocks. You cannot invest directly in an index.

22 The Funds at a Glance — Domini PacAsia Social Equity Fund

Domini Social Bond Fund

Investment Objective

The Domini Social Bond Fund seeks to provide its shareholders with a high level of current income and total return.

Primary Investment Strategies

The Domini Social Bond Fund (the Fund) primarily invests in bonds and other debt instruments. The Fund seeks to invest in corporate debt instruments that are consistent with Domini’s social and environmental standards. The Fund normally invests at least 85% of its assets in investment-grade securities and maintains a dollar-weighted average effective maturity of between two and ten years.

Under normal circumstances, at least 80% of the Fund’s assets will be invested in bonds, including government and corporate bonds, mortgage-backed and asset-backed securities, and U.S. dollar-denominated bonds issued by non-U.S. entities. The Fund will provide shareholders with at least 60 days’ prior notice if it changes this 80% policy.

The Fund seeks to play a positive role in the economic revitalization of underserved communities. The Fund seeks to invest in debt instruments that support affordable housing, small business development, community revitalization, rural development, education, the environment, and healthcare. The Fund may invest up to 10% of its assets in community development financial institutions, community loan funds, and similar institutions. These investments may not be insured by the FDIC and may earn below-market rates of return. Some of these investments may be in unrated or lower-rated securities that carry a higher degree of risk than the Fund’s investment-grade securities. Some of these investments may be illiquid.

Domini evaluates potential corporate debt instruments against its social and environmental standards based on the businesses in which they engage, as well as on the quality of their relations with key stakeholders, including communities, customers, ecosystems, employees, investors, and suppliers. For additional information about the standards Domini uses to evaluate potential corporate investments and the corporate securities held by the Fund, and certain limitations on investment, please see “Socially Responsible Investing.” Domini reserves the right to alter its social and environmental standards or the application of those standards, or to add new standards, at any time without shareholder approval.

The Fund’s submanager uses proprietary analytical tools to select investments from among those which Domini has notified the submanager are eligible for investment. The submanager’s bottom-up approach focuses on fixed-income securities that it believes are undervalued by the market.

Primary Risks

The Fund’s total return, like the bond market in general, may fluctuate widely. As with any mutual fund, you could lose money on your investment in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed. The share price of the Fund normally changes daily based on changes in the value of the securities that the Fund holds. There can be no guarantee that the Fund will be able to achieve its investment objective. The principal risks of investing in the Fund are listed below:

Credit Risk

Government-Sponsored Entities Risk

Information Risk

Interest Rate Risk

Liquidity Risk

Market Risk

Portfolio Turnover Risk

Prepayment and Extension Risk

Socially Responsible Investing Risk

24 The Funds at a Glance — Domini Social Bond Fund

Past Performance

The bar chart below and the following table provide an indication of the risks of investing in the Domini Social Bond Fund. The bar chart shows how returns of the Fund’s Investor shares have varied from one calendar year to the next. The table shows how the average annual total returns of the Fund’s shares compare with those of the Lehman Brothers Intermediate Aggregate Index (LBIA), a broad-based index.

Prior to April 25, 2008, the Domini Social Bond Fund was submanaged by the submanager’s predecessor, Seix Advisors, a fixed-income division of Ridgeworth Capital Management, Inc. (formerly known as Trusco Capital Management, Inc.) (“Ridgeworth”). Seix Advisors was spun-off into Seix Investment Advisors, LLC, the Fund’s current submanager in connection with a corporate reorganization of Ridgeworth.

Prior to March 18, 2005, the Domini Social Bond Fund was submanaged by ShoreBank.

Please note that this information represents past performance (before and after taxes), and is not necessarily an indication of how the Fund will perform in the future.

TOTAL RETURN FOR YEARS ENDED DECEMBER 31

This bar chart shows how the performance of the Domini Social Bond Fund’s Investor shares has varied over the past seven calendar years.

TO BE UPDATED BY AMENDMENT — ADD 2007

Best quarter covered by the bar chart above: XX.XX%
(quarter ended XX/XX/XX)

Worst quarter covered by the bar chart above: XX.XX%
(quarter ended XX/XX/XX)

Year-to-date performance as of 9/30/08: XX.XX%

The Funds at a Glance — Domini Social Bond Fund 25

AVERAGE ANNUAL TOTAL RETURNS FOR THE PERIODS ENDED 12/31/07

The table below shows the average annual total returns and after-tax returns of the Domini Social Bond Fund in comparison to the Lehman Brothers Intermediate Aggregate Index (LBIA). The after-tax returns shown in the table are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes, the effect of phaseouts of certain exemptions, deductions, and credits at various income levels, or the impact of the federal alternative minimum tax.

Please note:


	•	Actual after-tax returns depend on your tax situation and may differ from those shown.

	•	After-tax returns are not relevant if you hold your shares through a tax-deferred arrangement, such as a 401(k) plan or an IRA.

Since Inception

Year

Years

(6/1/00)

Domini Social Bond Fund

Investor shares Return Before Taxes

Investor shares Return After Taxes on Distributions

Investor shares Return After Taxes on Distributions and Sale of shares*

LBIA (reflects no deduction for fees, expenses, or taxes)**


*	The calculation of the Fund’s return after taxes on distributions and sale of shares assumes a complete redemption at the end of the periods shown in the table and that the shareholder has sufficient capital gains of the same character from other investments to offset any capital losses from the redemption so that the shareholder may deduct the capital losses in full.


**	The Lehman Brothers Intermediate Aggregate Index (LBIA) is an unmanaged index of intermediate investment-grade fixed-income securities. You cannot invest directly in an index.

26 The Funds at a Glance — Domini Social Bond Fund

FUND FEES AND EXPENSES

The tables that follow describe the fees and expenses that you would pay if you buy and hold shares of a Fund. The tables show the estimated operating expenses paid each year by each of the Funds. These expenses are based on the actual expenses paid by the Funds for the fiscal year ended July 31, 2008. Actual expenses paid by the Funds may vary from year to year.

Investor Shares

Shareholder Fees
(fees paid directly by you)

Redemption Fee²

Sales Charge

(as a percentage

(Load)

Deferred

of amount

Imposed on

Sales Charge

redeemed,

Exchange

Purchases

(Load)

if applicable)

Fee

Domini Social Equity Fund

None

2.00

%¹

None

Domini European Social Equity Fund

None

2.00

%¹

None

Domini European PacAsia Social
Equity Fund

None

2.00

%¹

None

Domini PacAsia Social Equity Fund

None

2.00

%¹

None

Domini Social Bond Fund

None

2.00

%¹

None

Annual Fund Operating Expenses
(expenses deducted from Investor class shares of each Fund)


												Total
				Distribution								Annual
	Management			(12b-1)			Other					Operating		Fee		Net
	Fees			Fees			Expenses					Expenses		Waiver⁴		Expenses
							Admin.
							Services/
							Sponsorship			Other
							Fee			Expenses³
Domini Social Equity Fund		0.30	%		0.25	%		0.45	%		%		%		%		1.20	%
Domini European Social Equity Fund		1.00	%		0.25	%		None			%		%		%		1.60	%
Domini European PacAsia Social Equity Fund⁴		1.00	%		0.25	%		None			%		%		%		1.60	%
Domini PacAsia Social Equity Fund⁴		1.00	%		0.25	%		None			%		%		%		1.60	%
Domini Social Bond Fund		0.40	%		0.25	%		0.25	%		%		%		%		0.95	%


1		In order to discourage use of the Funds for market timing, an early redemption fee is charged on sales or exchanges of shares made less than 30 days after settlement of purchase or acquisition through exchange, with certain exceptions.


2		If you wish to receive your redemption proceeds by bank wire, there is a $10 wire service fee. For additional information, please refer to the Shareholder Manual.


3		Other Expenses include the cost of transfer agency, custody and accounting services, and similar expenses.


4		Until November 30, 2009, Domini Social Investments LLC has contractually agreed to waive certain fees and/or reimburse certain expenses, including management fees, for the Domini Social Equity Fund, Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, Domini PacAsia Social Equity Fund, and Domini Social Bond Fund, so that each Fund’s expenses, net of waivers and reimbursements, will not exceed, on a per annum basis, 1.20%, 1.60%, 1.60%, 1.60%, and 0.95%, respectively, of the average daily net assets representing Investor shares, absent an earlier modification by the Board of Trustees, which oversees the Funds.

Example

The example below is intended to help you compare the cost of investing in Investor class shares of the Funds with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur if you invest $10,000 in the Investor class shares of each Fund for the time periods indicated and then sell all of your shares at the end of each period. This example assumes that the Fund provides a return of 5% a year, all dividends and distributions are reinvested, that operating expenses remain the same for the time period indicated, and that the fee waivers reflected in the fee table and the footnotes thereto are in effect for the one-year time period. Although your actual costs may be higher or lower, based on these assumptions your costs would be as follows:

1 Year

3 Years

5 Years

10 Years

Domini Social Equity Fund

Domini European Social Equity Fund

Domini European PacAsia Social Equity Fund

Domini PacAsia Social Equity Fund

Domini Social Bond Fund

This example should not be considered to represent actual expenses or performance for the past or the future. Actual future expenses may be higher or lower than those shown.

28 Fund Fees and Expenses

Class A Shares

Shareholder Fees
(fees paid directly by you)

Sales Charge

Redemption Fee²

(Load)

Deferred

(as a percentage

Imposed on

Sales Charge

of amount redeemed,

Exchange

Purchases

(Load)

if applicable)

Fee

Domini Social Equity Fund

4.75

None

2.00

%¹

None

Domini European Social Equity Fund

4.75

None

2.00

%¹

None

Domini European PacAsia Social Equity Fund

4.75

None

2.00

%¹

None

Domini PacAsia Social Equity Fund

4.75

None

2.00

%¹

None

Annual Fund Operating Expenses
(expenses deducted from Investor class shares of each Fund)


												Total
				Distribution								Annual
	Management			(12b-1)			Other					Operating		Fee		Net
	Fees			Fees			Expenses					Expenses		Waiver⁴		Expenses
							Admin.
							Services/
							Sponsorship			Other
							Fee			Expenses³
Domini Social Equity Fund		0.30	%		0.25	%		0.45	%		%		%		%		1.18	%
Domini European Social Equity Fund		1.00	%		0.25	%		None			%		%		%		1.57	%
Domini European PacAsia Social Equity Fund		1.00	%		0.25	%		None			%		%		%		1.57	%
Domini PacAsia Social Equity Fund		1.00	%		0.25	%		None			%		%		%		1.57	%


1		In order to discourage use of the Funds for market timing, an early redemption fee is charged on sales or exchanges of shares made less than 30 days after settlement of purchase or acquisition through exchange, with certain exceptions.


2		If you wish to receive your redemption proceeds by bank wire, there is a $10 wire service fee. For additional information, please refer to the Shareholder Manual.


3		Other Expenses include the cost of transfer agency, custody and accounting services, and similar expenses. Other Expenses for newly formed Class A shares are based on estimted amoutns for the current fiscal year.


4		Until November 30, 2009, Domini Social Investments LLC has contractually agreed to waive certain fees and/or reimburse certain expenses, including management fees, for the Domini Social Equity Fund, Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund, so that each Fund’s expenses, net of waivers and reimbursements, will not exceed, on a per annum basis, 1.18%, 1.57%, 1.57%, and 1.57%, respectively, of the average daily net assets representing Class A shares, absent an earlier modification by the Board of Trustees, which oversees the Funds.

Fund Fees and Expenses 29

Example

The example below is intended to help you compare the cost of investing in Class A shares of the Funds with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur if you invest $10,000 in the Class A shares of each Fund for the time periods indicated and then sell all of your shares at the end of each period. This example assumes that the Fund provides a return of 5% a year, all dividends and distributions are reinvested, that operating expenses remain the same for the time period indicated, and that the fee waivers reflected in the fee table and the footnotes thereto are in effect for the one-year time period. Although your actual costs may be higher or lower, based on these assumptions your costs would be as follows:

1 Year

3 Years

5 Years

10 Years

Domini Social Equity Fund

Domini European Social Equity Fund

Domini European PacAsia Social Equity Fund

Domini PacAsia Social Equity Fund

This example should not be considered to represent actual expenses or performance for the past or the future. Actual future expenses may be higher or lower than those shown.

30 Fund Fees and Expenses

Institutional Shares

Shareholder Fees
(fees paid directly by you)

Sales Charge

Redemption Fee²

(Load)

Deferred

(as a percentage

Imposed on

Sales Charge

of amount redeemed,

Exchange

Purchases

(Load)

if applicable)

Fee

Domini Social Equity Fund

None

2.00

%¹

None

Annual Fund Operating Expenses
(expenses deducted from Institutional shares of each Fund)

Total

Distribution

Annual

Management

(12b-1)

Other

Operating

Fee

Net

Fees

Expenses

Waiver⁴

Expenses

Admin.

Services/

Sponsorship

Other

Fee

Expenses³

Domini Social
Equity Fund

0.30

None

0.45

0.65


1		In order to discourage use of the Funds for market timing, an early redemption fee is charged on sales or exchanges of shares made less than 30 days after settlement of purchase or acquisition through exchange, with certain exceptions.


2		If you wish to receive your redemption proceeds by bank wire, there is a $10 wire service fee. For additional information, please refer to the Shareholder Manual.


3		Other Expenses include the cost of transfer agency, custody and accounting services, and similar expenses. Other Expenses for newly formed Institutional shares are based on estimted amoutns for the current fiscal year.


4		Until November 30, 2009, Domini Social Investments LLC has contractually agreed to waive certain fees and/or reimburse certain expenses, including management fees, for the Domini Social Equity Fund, so that expenses, net of waivers and reimbursements, will not exceed, on a per annum basis, 0.65% of the average daily net assets representing Institutional shares, absent an earlier modification by the Board of Trustees, which oversees the Funds.

Fund Fees and Expenses 31

Example

The example below is intended to help you compare the cost of investing in Institutional shares of the Domini Social Equity Fund with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur if you invest $10,000 in the Institutional shares of the Fund for the time periods indicated and then sell all of your shares at the end of each period. This example assumes that the Fund provides a return of 5% a year, all dividends and distributions are reinvested, that operating expenses remain the same for the time period indicated, and that the fee waivers reflected in the fee table and the footnotes thereto are in effect for the one-year time period. Although your actual costs may be higher or lower, based on these assumptions your costs would be as follows:

1 Year

3 Years

5 Years

10 Years

Domini Social Equity Fund

This example should not be considered to represent actual expenses or performance for the past or the future. Actual future expenses may be higher or lower than those shown.

32 Fund Fees and Expenses

Class R Shares

Shareholder Fees
(fees paid directly by you)

Sales Charge

Redemption Fee²

(Load)

Deferred

(as a percentage

Imposed on

Sales Charge

of amount redeemed,

Exchange

Purchases

(Load)

if applicable)

Fee

Domini Social Equity Fund

None

2.00

%¹

None

Annual Fund Operating Expenses
(expenses deducted from Class R shares of each Fund)

Total

Distribution

Annual

Management

(12b-1)

Other

Operating

Fee

Net

Fees

Expenses

Waiver⁴

Expenses

Admin.

Services/

Sponsorship

Other

Fee

Expenses³

Domini Social
Equity Fund

0.30

None

0.45

0.15

0.90

0.05

0.90

%⁶


1		In order to discourage use of the Funds for market timing, an early redemption fee is charged on sales or exchanges of shares made less than 30 days after settlement of purchase or acquisition through exchange, with certain exceptions.


2		If you wish to receive your redemption proceeds by bank wire, there is a $10 wire service fee. For additional information, please refer to the Shareholder Manual.


3		Other Expenses include the cost of transfer agency, custody and accounting services, and similar expenses.


4		Until November 30, 2009, Domini Social Investments LLC has contractually agreed to waive certain fees and/or reimburse certain expenses, including management fees, for the Domini Social Equity Fund, so that expenses, net of waivers and reimbursements, will not exceed, on a per annum basis, 0.90% of the average daily net assets representing Class R shares, absent an earlier modification by the Board of Trustees, which oversees the Funds.

Fund Fees and Expenses 33

Example

The example below is intended to help you compare the cost of investing in Class R shares of the Domini Social Equity Fund with the cost of investing in other mutual funds. It illustrates the hypothetical expenses that you would incur if you invest $10,000 in the Class R shares of the Fund for the time periods indicated and then sell all of your shares at the end of each period. This example assumes that the Fund provides a return of 5% a year, all dividends and distributions are reinvested, that operating expenses remain the same for the time period indicated, and that the fee waivers reflected in the fee table and the footnotes thereto are in effect for the one-year time period. Although your actual costs may be higher or lower, based on these assumptions your costs would be as follows:

1 Year

3 Years

5 Years

10 Years

Domini Social Equity Fund

This example should not be considered to represent actual expenses or performance for the past or the future. Actual future expenses may be higher or lower than those shown.

34 Fund Fees and Expenses

SUMMARY OF PRIMARY RISKS

The value of your investment in each of the Funds changes with the values of its investments. Many factors can positively or negatively affect those values. The factors that are most likely to have a material negative effect on your investment are called “Primary Risks.” The Primary Risks of each Fund are identified in the “Funds at a Glance” section and are described below. Each Fund may be subject to additional risks other than those described below because the types of investments made by a Fund can change over time. Additional investment policies and risks of the Funds are set forth in the Statement of Additional Information of the Funds, which is available upon request.

Country Risk. Although the Fund expects to diversify its investments primarily among various countries in the European and/or Asia-Pacific regions, as applicable, it may hold a large number of securities in a single country. If the Fund concentrates its investments in a particular country, it bears the risk that economic, political, and social conditions in that country will have a significant impact on Fund performance.

Credit Risk. The Fund could lose money if the issuer or guarantor of a bond or other debt instrument does not make timely principal and/or interest payments, is perceived to be less creditworthy, experiences a downgrade in its credit quality or the value of any underlying assets decline, or it otherwise does not honor its obligations. In addition, the value of any debt instrument held by the Fund may be negatively affected for a number of reasons that directly relate to the issuer of that debt instrument, such as management performance, financial leverage, and reduced demand for the issuer’s goods or services.

All of these factors contribute to the debt issuer’s perceived creditworthiness. A major factor affecting the pricing of debt instruments is how creditworthy the issuers of these instruments are perceived to be. This perception is often related to credit ratings, assigned by industry-recognized credit rating agencies.

Debt instruments with lower ratings tend to be more volatile than those with higher ratings. Lower-rated or unrated securities may also be hard to value accurately or sell at a fair price.

Credit risk is broadly guagedby the credit ratings of the securities in which the Fund invests. However, ratings are only the opinions of the companies issuing them and are not absolute guarantees as to quality. Investment-grade debt instruments are those rated “Aaa,” “Aa,” “A,” or “Baa” by Moody’s Investors Service, Inc., or “AAA,” “AA,” “A,” or “BBB” by Standard & Poor’s Ratings Services, and those that the Domini Social Bond Fund’s portfolio managers believe to be of comparable quality.

If the credit quality of a security declines after the Fund buys it, the Fund’s portfolio managers will decide whether the Fund should continue to hold or should sell the security. Community development investments

that are unrated and/or illiquid may be riskier than investment-grade securities, and some may earn below-market rates of return. The Fund may not be able to sell illiquid investments at an advantageous time or price.

Currency Risk. The Fund’s share price is denominated in U.S. dollars. Fluctuations between the U.S. dollar and foreign currency exchange rates could negatively affect the value of the Fund’s investments. The Fund will benefit when foreign currencies strengthen against the dollar and will be hurt when foreign currencies weaken against the dollar.

Emerging Markets Risk. The Fund may hold a significant number of companies that are tied economically to emerging market countries in Central and Eastern Europe and/or in the Asia-Pacific region. The securities markets in these and other emerging countries are less liquid, are subject to greater price volatility, have smaller market capitalizations, have less government regulation, and are not subject to as extensive and frequent accounting, financial, and other reporting requirements as the securities markets of more-developed countries. Further, investment in equity securities of issuers located in emerging countries involves risk of loss resulting from problems in share registration and custody, and substantial economic and political disruptions. These risks are not normally associated with investments in more-developed countries.

Foreign Investing Risk. Investing in securities of companies tied economically to the European and/or Asia-Pacific regions may represent a greater degree of risk than investing in U.S. securities due to political, social, and economic developments abroad, such as political upheaval or financial troubles. Additionally, there is risk resulting from the differences between the regulations to which U.S. and foreign issuers and markets are subject, such as accounting, auditing, and financial reporting standards and practices, and the degree of government oversight and supervision. These factors can make foreign investments more volatile and potentially less liquid than U.S. investments. In addition, foreign markets can perform differently from the U.S. market.

Geographic Concentration Risk. The Fund will be largely invested in companies based in European and/or Asia-Pacific regions. Market changes or other factors affecting these regions, including political instability and unpredictable economic conditions, could have a significant impact on the Fund due to its regional concentration.

Government-Sponsored Entity Risk. The Fund currently invests a significant portion of its assets in securities issued by government-sponsored entities such as Fannie Mae (formerly known as the Federal National Mortgage Association), Freddie Mac (formerly known as the Federal Home Loan Mortgage Corporation), and the Federal Home Loan Banks. These entities were chartered or sponsored by Congress, however, they are not funded by the government, and their securities are not issued, guaranteed, or insured by the U.S. government or the U.S. Treasury. Although the U.S. government has provided financial support to Fannie

36 Summary of Primary Risks

Mae and Freddie Mac, there can be no assurance that it will support these or other government-sponsored enterprises in the future.

Information Risk. To evaluate an issuer’s social and environmental performance and/or certain markets, sectors, or geographic regions, Domini generally relies on information that is provided by third parties or is self-reported by issuers. Therefore, there is a risk in certain circumstances (e.g., Asia-Pacific and emerging market regions) that sufficient information may not be readily available, complete, or accurate, or may be biased. This may affect the way Domini’s standards are applied in a particular situation. In certain circumstances, this may lead Domini to avoid certain issuers, markets, industries, sectors or geographic regions.

Interest Rate Risk. In general, the value of a bond goes down when interest rates go up. The value of the Fund tends to follow the same pattern. Falling interest rates, on the other hand, could cause the Fund’s income to decline. Securities with longer maturities tend to be more sensitive to changes in interest rates, usually making them more volatile than securities with shorter maturities. Under normal market conditions, the Fund’s dollar-weighted average effective maturity is from two to ten years. Prepayments of the debt instruments held by the Fund that are greater than or less than expected may cause its average effective maturity to differ from its normal range. This deviation is not a violation of investment policy.

Liquidity Risk. Liquidity Risk exits when particular investments are difficult to sell. When the Fund holds these types of investments, the Fund’s portfolio may be more difficult to value, especially in changing markets. Investments by the Fund in derivatives, below investment grade securities, foreign securities, and corporate loans tend to involve greater liquidity risk. Additionally, the market for certain investments may become illiquid under adverse market or economic conditions independent of any specific adverse changes in the conditions of a particular issuer. In such cases, the Fund, due to limitations on investments in illiquid securities and the difficulty in purchases and selling such securities, may be unable to achieve its desired level of exposure to certain sectors.

Market Risk. The value of the securities in which the Fund invests may decline significantly in response to adverse issuer, political, regulatory, market, or economic developments in the United States or abroad. Different parts of the market can react differently to these developments. To the extent that the Fund concentrates more of its investments in a particular sector of a market, the Fund will be more susceptible to any economic, social, or political factor affecting that sector.

Mid- to Large-Cap Companies Risk. Under normal circumstances, the Fund will invest primarily in mid-cap to large-cap U.S. companies. Mid-cap and large-cap stocks tend to go through cycles when they do better, or worse, than other asset classes or the stock market overall. The performance of each shareholder’s investment will be affected by these

Summary of Primary Risks 37

market trends. The Fund reserves the right to invest in companies of any capitalization, including small-cap companies that are more likely to have more limited product lines, fewer capital resources, and less depth of management than larger companies.

Portfolio Turnover Risk. The Fund will be actively managed and may have a high portfolio turnover rate. Changes to the investments of the Fund may be made regardless of the length of time particular investments have been held. A high portfolio turnover rate generally involves greater expenses, including brokerage commissions and other transactional costs, which may have an adverse impact on performance. The portfolio turnover rate of the Fund will vary from year to year, as well as within a year.

Prepayment and Extension Risk. Many fixed income securities give the issuer the option to repay or call the security prior to its maturity date. Issuers often exercise the right when interest rates fall. This can reduce the returns of the Fund because it may have to reinvest that money at the lower prevailing interest rates. On the other hand, rising interest rates may cause debt instruments to be repaid later than expected, forcing the Fund to endure the relatively low interest rates on these instruments. This also extends the average effective maturity of certain debt instruments, making them more sensitive to changes in interest rates and the Fund’s net asset value more volatile. Because the Fund invests in mortgage-backed securities, it is particularly sensitive to this type of risk.

Sector Concentration Risk. The Fund’s benchmark index may be concentrated in specific sectors at various times. Because a Fund’s portfolio sector concentration may be managed to the benchmark, the Fund may hold a large percentage of securities in a single sector (e.g., financials). If the Fund holds a large percentage of securities in a single sector, its performance will be tied closely to and affected by the performance of that sector.

Socially Responsible Investing Risk. Since the Fund seeks to make sustainable investments that are consistent with Domini’s social and environmental standards, it may choose to sell, or not purchase, investments that are otherwise consistent with its investment objective. In general, the alignment of Fund holdings with Domini’s social and environmental standards may affect the Fund’s exposure to certain issuers, industries, sectors, and countries that may impact the relative financial performance of the Fund — positively or negatively — depending on whether such investments are in or out of favor.

Style Risk. The submanager’s quantitative stock selection approach seeks to identify stocks it believes are both undervalued by the market and favorably positioned according to earnings growth and price momentum. There is a risk that this approach may fail to produce the intended results, for example, if stocks remain undervalued during a given period, or because of a failure to anticipate which stocks or industries would benefit from changing market or economic conditions.

38 Summary of Primary Risks

SOCIALLY RESPONSIBLE INVESTING

In the course of pursuing their own financial objectives, socially responsible investors also seek to use their investments to create a more fair and sustainable world. Domini believes that by factoring sustainability standards into their investment decisions, investors can encourage greater corporate responsibility. The use of social and environmental standards may also help to identify companies that are led by more enlightened management, are focused on the creation of long-term value, and are better able to meet the needs of their stakeholders and of the planet.

Each of the Domini Funds incorporates Domini’s social and environmental standards into its investment process. We believe the use of these standards in the investment process helps to more effectively align the financial markets with societal needs, build demand for data on corporate social and environmental performance, and communicate the expectations of socially responsible investors to issuers and the broader investment community. When appropriate, we engage in dialogue with the management of companies urging them to address the social and environmental impacts of their operations. In addition, we seek to vote all company proxies in accordance with Domini’s published guidelines, which cover a wide range of social, environmental, and corporate governance matters.

The Social and Environmental Standards
Applied to the Domini Funds

Domini believes that its standards can help identify strong long-term investments, as well as highlight companies and other issuers that enrich society and the environment. Domini seeks to understand each company’s response to what Domini determines to be key social and environmental challenges it faces. Domini evaluates potential investments against its standards based on the businesses in which they engage, as well as on the quality of the company’s relations with key stakeholders, including communities, customers, ecosystems, employees, investors, and suppliers.

Domini believes that certain goods and services are misaligned with its standards. Therefore, Domini will seek to avoid investment in firms that it determines to be sufficiently involved with such goods and services to warrant their exclusion. These goods and services include, but may not be limited to, alcohol, tobacco, gambling, nuclear power, and military weapons.

Domini will often determine that an investment is consistent with its standards even when the issuer’s profile reflects a mixture of positive and negative social and environmental characteristics. Domini recognizes that relationships with key stakeholders are complicated and that even the best of companies often run into problems day to day. Domini’s approach recognizes that a company with a mixed record may still be effectively

grappling with the important issues in its industry. The Funds will invest in companies with a combination of controversies and praiseworthy initiatives.

Domini’s standards may also limit a Fund’s investment in certain geographic areas due to prevailing political conditions that Domini believes affect the social and environmental performance of companies in those regions. In addition, Domini’s standards currently prohibit investment by the Funds in U.S. Treasuries, the general obligation securities issued by the U.S. government. While Domini recognizes that these securities support many public goods essential for our society, it has adopted this policy to reflect serious concerns about the risks posed by our country’s nuclear weapons arsenal and continuing large military expenditures.

Domini’s interpretation and application of its social and environmental standards are subjective and may evolve over time. In addition, in response to business practices in different regions of the world Domini may determine that it is necessary to reinterpret or customize its social and environmental standards for a particular region.

Domini’s social and environmental standards are designed to reflect many of the standards widely used by socially responsible investors. However, you may find that some Fund holdings do not reflect your social or environmental standards. You may wish to review a list of the holdings in a Fund’s portfolio to decide if they meet your personal standards. To obtain portfolio holdings information, please refer to “Additional Investment Strategies, Risk, and Portfolio Holdings Information.”

Engagement

Each year, the Domini Funds seek to raise issues of social and environmental performance with the management of certain companies through proxy voting, dialogue with management, and by filing shareholder resolutions, where appropriate. In European and Asia-Pacific countries, various barriers, including regulatory systems, geography, and language, may impair a Fund’s ability to use its influence effectively. In particular, due to onerous regulatory barriers, the Domini Funds do not generally expect to file shareholder resolutions outside the United States.

Community Development

The Domini Social Bond Fund seeks to play a positive role in the economic revitalization of underserved communities. The Fund’s investments include debt instruments issued by a range of noncorporate entities, including government agencies, states, and municipalities, as well as corporate debt. Domini seeks out investments for the Bond Fund that it views as having social impact across a spectrum of community development activities. Specifically, the Bond Fund seeks to identify investments that support affordable housing, small business development, community revitalization, rural development, education, the environment, or healthcare.

40 Socially Responsible Investing

For noncorporate issuers, Domini seeks to identify investments for the Domini Social Bond Fund that increase access to capital for those historically underserved, support the creation of public goods in economically disadvantaged regions, or encourage responsible innovation in financial services to these regions. To measure an issuer’s ability to enhance access to capital, create public goods, and innovate, Domini normally assesses fixed-income investments against a multi-level gradient of community development impact. Fixed-income holdings will typically include holdings ranging from the lowest to the highest level of community impact, as measured by Domini’s Community Impact Gradient.

***

Domini may, at its discretion, choose to change its social or environmental standards, add additional standards, or modify the application of the standards listed above to a Fund at any time, without shareholder approval. This will impact investments held by a Fund, and may cause certain companies, sectors, industries, or countries to be dropped from or added to a Fund’s portfolio. In addition, Domini reserves the right to vary the application of these standards to a Fund, depending, for example, on such factors as asset class, industry and sector representation, market capitalization, investment style, access to quality data on an issuer’s social or environmental performance, and cultural and political factors that may vary by region or country.

Socially Responsible Investing 41

ADDITIONAL INVESTMENT STRATEGIES, RISK,
AND PORTFOLIO HOLDINGS INFORMATION

Investment Objective

Each Fund’s investment objective may be changed by the Fund’s Board of Trustees without shareholder approval, but shareholders will be given notice at least 30 days before any change to the investment objective is implemented. Management currently has no intention to change any Fund’s investment objective.

Domini Social Equity Fund, Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund

The Domini Social Equity Fund provides shareholders with exposure to a core portfolio of companies based in the United States. The Fund also may hold up to 15% of its assets in companies organized or principally traded outside the United States.

The Domini European Social Equity Fund and Domini PacAsia Social Equity Fund provide shareholders with exposure to a core portfolio of companies based in Europe and the Asia-Pacific region, respectively. The Domini European PacAsia Social Equity Fund provides shareholders with exposure to a core portfolio of companies based in Europe and the Asia-Pacific region. Each of these Funds is expected to invest at least 80% of its assets in equity securities and related investments tied economically to its applicable region(s).

Each Fund’s investments are selected from a universe of securities that Domini has identified as eligible for investment based on its evaluation against Domini’s social and environmental standards. In seeking to achieve a Fund’s investment objective, the submanager applies a quantitative stock selection approach to potential holdings within a disciplined portfolio construction framework. The disciplined portfolio construction process seeks to manage risk and ensure that the Fund’s holdings and characteristics are consistent with a Fund’s investment objective. The submanager’s quantitative stock selection process uses multiple factors to determine a security’s attractiveness. The factors can be grouped loosely into “value” and “momentum” categories. Valuation factors compare securities within sectors based on measures such as price ratios and balance sheet strength. Momentum focuses on stocks with favorable earnings and stock price momentum to assess the appropriate time for purchase. The quantitative analysis favors stocks that appear to be both inexpensive according to the value factors and well-positioned according to earnings growth and price momentum factors. The weight of each factor and category varies by industry and region. The submanager will seek to buy the most attractive stocks and sell the least attractive stocks, within reasonable turnover constraints.

At Domini’s discretion and subject to Domini’s social and environmental standards, some of a Fund’s assets may be used to maintain positions in certain investments for various reasons, including shareholder advocacy purposes.

Use of Depository Receipts

Securities of foreign issuers may be purchased directly or through depository receipts, such as American Depository Receipts (ADRs), European Depository Receipts (EDRs), and Global Depository Receipts (GDRs), or other securities representing underlying shares of foreign companies. Generally, ADRs, in registered form, are designed for use in U.S. securities markets, and EDRs and GDRs, in bearer form, are designed for use in European and global securities markets. ADRs are receipts typically issued by a U.S. bank or trust company evidencing ownership of the underlying securities. EDRs and GDRs are European and global receipts, respectively, evidencing a similar arrangement. The use of all such instruments is subject to Domini’s social and environmental standards.

Use of Options, Futures, and Other Derivatives

Although it is not a principal investment strategy, each Fund may purchase and sell options, enter into futures contracts, currency forwards, and/or utilize other derivative contracts and securities with respect to stocks, bonds, groups of securities (such as financial indexes), foreign currencies, interest rates, or inflation indexes. A Fund may also utilize derivative instruments, such as equity-linked securities, to gain exposure to certain emerging markets, but not as a principal investment strategy. These techniques, which are incidental to a Fund’s primary strategy, permit the Fund to gain exposure to a particular security, group of securities, currency, interest rate, or index, and thereby have the potential for a Fund to earn returns that are similar to those that would be earned by direct investments in those securities or instruments. The use of all such instruments is subject to Domini’s social and environmental standards.

These techniques are also used to manage risk by hedging a Fund’s portfolio investments. Hedging techniques may not always be available to a Fund, and it may not always be feasible for a Fund to use hedging techniques even when they are available.

Derivatives have risks, however. If the issuer of the derivative instrument does not pay the amount due, the Fund could lose money on the instrument. In addition, the underlying security or investment on which the derivative is based, or the derivative itself, may not perform the way the Fund’s submanager expected. As a result, the use of these techniques may result in losses to the Fund or increase volatility in the Fund’s performance. Some derivatives are sophisticated instruments that typically involve a small investment of cash relative to the magnitude of risks

Additional Investment Strategies, Risk, and Portfolio Holdings Information 43

assumed. Derivative securities are subject to market risk, which could be significant for those that have a leveraging effect.

Domini Social Bond Fund

The Domini Social Bond Fund seeks to foster economic empowerment through investments that support affordable housing, small business development, community revitalization, rural development, education, the environment, and healthcare.

Types of Bonds and Other Investments

The Domini Social Bond Fund typically invests at least 85% of its assets in investment-grade securities. The Fund can buy many types of debt instruments including, without limitation, corporate bonds, bonds issued by U.S. government agencies or instrumentalities, and mortgage-backed and asset-backed securities. The Fund may also invest in the instruments of, and deposit cash with, community development banks, community loan funds, credit unions, and other entities whose mission is community economic development. Such instruments may be unrated and/or illiquid. The Fund may not invest more than 15% of its net assets in illiquid securities. All of the Fund’s holdings are subject to Domini’s social and environmental standards. Please see “Socially Responsible Investing” above for more information.

The Bond Fund may invest in mortgages, loans, and pools of loans issued by community development banks, community development financial institutions, community loan funds, and similar institutions. These investments are targeted to underinvested areas, low- to moderate-income individuals, and small businesses.

The Fund may invest up to 10% of its assets in community development financial institutions, community loan funds, and similar institutions. These investments may not be insured by the FDIC.

These and other Domini Social Bond Fund investments may earn below-market rates of return, may also be lower-rated or unrated, and may subject the Fund to more credit risk than other types of debt instruments. Some of the Fund’s investments may also be illiquid, and the Fund may not be able to sell them at an advantageous time or price.

The following describes the most common types of bonds and other debt instruments and investments the Fund will hold. (For a discussion of the risks associated with these types of securities, refer to “Domini Social Bond Fund — Primary Risks.”)

Securities of U.S. Government Agencies and Instrumentalities are bonds issued by government agencies and instrumentalities and government-sponsored entities. The Fund generally invests in securities related to housing, farming, and education. These investments represent loans to the issuing agency or instrumentality.

44 Additional Investment Strategies, Risk, and Portfolio Holdings Information

Please keep in mind that some securities issued by U.S. government agencies and instrumentalities may not be backed by the full faith and credit of the U.S. Treasury. The Fund currently invests a significant portion of its assets in securities issued by government-sponsored entities such as Freddie Mac, Fannie Mae, and the Federal Home Loan Banks. Although these entities were chartered or sponsored by Congress, they are not funded by the government, and the securities they issue are not guaranteed or insured by the U.S. government or the U.S. Treasury. Securities issued by these government-sponsored entities are backed by their respective issuers only.

The Fund does not currently intend to invest in direct obligations of the U.S. Treasury such as U.S. Treasury bills, notes, and bonds.

State and Municipal Bonds represent loans to a state or municipal government, or one of its agencies or instrumentalities.

Corporate Bonds are IOUs issued by companies that want to borrow money for some business purpose. As with other types of bonds, the issuer promises to repay the principal on a specific date and to make interest payments in the meantime. The amount of interest offered depends on market conditions and also on the financial health of the company issuing the bonds. For example, a company whose credit rating is weak will have to offer a higher interest rate to obtain buyers for its bonds. The Fund invests primarily in investment-grade corporate bonds, which are corporate bonds rated in one of the four highest rating categories by independent bond rating agencies, and those that the Fund’s portfolio managers believe to be of comparable quality.

Mortgage-Backed and Asset-Backed Securities represent interests in underlying pools of mortgages or consumer or commercial loans — most often home loans or credit card, automobile, or trade receivables. Unlike ordinary bonds, which generally pay a fixed rate of interest at regular intervals and then pay principal upon maturity, mortgage-backed securities pay both interest and principal as part of their regular payments. The Fund may also invest in mortgage-backed securities that are called collateralized mortgage obligations (CMOs). Typically CMOs are issued in separate classes with different stated maturities. As the underlying mortgage pool experiences prepayments, the pool pays off investors in classes with shorter maturities first.

The Domini Social Bond Fund may invest extensively in mortgage-backed and asset-backed securities. Because the mortgages and loans underlying these securities can be prepaid at any time by homeowners or consumer or corporate borrowers, mortgage-backed securities and asset-backed securities are particularly sensitive to prepayment risk. As a result, the prepayment risk borne by the Fund

Additional Investment Strategies, Risk, and Portfolio Holdings Information 45

may be higher than that for a bond fund that does not invest in these types of securities.

Mortgage-backed securities are issued by a number of government agencies and government-sponsored entities, including the Government National Mortgage Association (GNMA or Ginnie Mae), Freddie Mac, and Fannie Mae.

Ginnie Mae is a wholly owned government corporation that guarantees privately issued securities backed by pools of mortgages insured by the Federal Housing Administration, the Department of Veterans Affairs, and the Department of Agriculture under the Rural Housing Service Program. Ginnie Maes are guaranteed by the full faith and credit of the U.S. Treasury as to the timely payment of principal and interest. Freddie Mac and Fannie Mae are government-chartered, but shareholder-owned, corporations whose mandate is to enhance liquidity in the secondary mortgage markets. Freddie Macs and Fannie Maes are backed by their respective issuer only and are not guaranteed or insured by the U.S. government or the U.S. Treasury. Although the U.S. government has provided support to Freddie Mac and Fannie Mae there can be no assurances that it will support these or other govenment-sponsored enterprises in the future. Of course, your investment in the Domini Social Bond Fund is not insured. The Fund may also invest to a lesser extent in conventional mortgage securities, which are packaged by private entities and are not guaranteed or insured by the U.S. government or the U.S. Treasury.

International Dollar-Denominated Bonds (or Yankee bonds) are bonds denominated in U.S. dollars issued by foreign governments and companies. Because the bond’s value is designated in dollars rather than the currency of the issuer’s country, the investor is not exposed to currency risk. To the extent that the Fund owns bonds issued by foreign governments and companies, the Fund is subject to risks relating to political, social, and economic developments abroad.

Zero Coupon Obligations. The Fund may invest in obligations that do not pay current interest, known as “zero coupon” obligations. The prices of zero coupon obligations tend to be more volatile than those of securities that offer regular payments of interest. This makes the Fund’s net asset value more volatile. In order to pay cash distributions representing income on zero coupon obligations, the Fund may have to sell other securities on unfavorable terms. These sales may generate taxable gains for shareholders.

Floating and Variable Rate Obligations. The Fund may invest in obligations that pay interest at rates that change based on market interest rates, known as “floating” or “variable” rate obligations. Variable rate securities reset at specified intervals, while floating rate securities reset whenever there is a change in a specified interest rate. These securities tend to be highly sensitive to interest rate changes.

46 Additional Investment Strategies, Risk, and Portfolio Holdings Information

Floating and variable rate obligations with interest rates that change based on a multiple of a market interest rate may have the effect of magnifying the Fund’s gains or losses.

Derivatives. The Fund may use derivatives (including futures and options), which are financial contracts whose value depends on, or is derived from, the value of an underlying asset, reference rate, or index. The various derivatives that the Fund may use are described in more detail in the Statement of Additional Information. The Fund may use derivatives to reduce exposure to certain risks, such as interest rate risk. The Fund will not use derivatives for leverage. Suitable derivative transactions may not be available in all circumstances, and there can be no assurance that the Fund will use derivatives, even when they may benefit the Fund. Derivatives are subject to a number of risks described in further detail in this prospectus, such as market risk, interest rate risk, and credit risk. They also may be mispriced or improperly valued, and changes in the value of derivatives may not correlate perfectly with the underlying asset, reference rate, or index.

Understanding Bond Fund Risk: Average Maturity Calculations

Unlike an individual bond, which is repaid when it reaches maturity, a bond fund has no fixed maturity date. Instead, it maintains an average “rolling” maturity by selling aging bonds and buying newer ones. The “average maturity” of a bond fund is the average of all the maturities of the bonds held by the fund. It is usually expressed as a dollar-weighted average, so that the bonds held in greater amounts weigh more heavily in the calculation than bonds held in smaller amounts.

The dollar-weighted average “effective” maturity takes into account the portfolio manager’s expectation of prepayments and the call provisions of certain securities. Therefore, average effective maturity may be shorter than a simple average maturity calculation.

In general, a bond fund with a longer dollar-weighted average effective maturity will usually experience greater volatility due to its sensitivity to changes in interest rates than a fund with a shorter dollar-weighted average effective maturity.

Cash Reserves

Although each of the Domini Social Equity Fund, Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund seeks to be fully invested at all times, each keeps a small percentage of its assets in cash or cash equivalents. These reserves provide each Fund with flexibility to meet redemptions and expenses, and to readjust its portfolio holdings. Each Fund may hold these cash reserves uninvested or may invest them in high-quality, short-term debt securities issued by agencies or instrumentalities of the U.S. government, bankers’ acceptances, commercial paper, certificates of deposit, bank deposits, or repurchase agreements. Some of the investments may be with community development banks and financial

Additional Investment Strategies, Risk, and Portfolio Holdings Information 47

institutions and may not be insured by the FDIC. All such securities are subject to Domini’s social and environmental standards.

The Domini Social Bond Fund will also invest a portion of its assets in short-term debt securities issued by agencies or instrumentalities of the U.S. government, bankers’ acceptances, commercial paper, certificates of deposit, bank deposits, and repurchase agreements. Some of the investments may be with community development banks and financial institutions and may not be insured by the FDIC. All such securities are subject to Domini’s social and environmental standards.

Illiquid Securities

Each Fund may not invest more than 15% of its net assets in illiquid securities, which may be difficult to value properly and may involve greater risks than liquid securities. Illiquid securities include those legally restricted as to resale, and may include commercial paper issued pursuant to Section 4(2) of the Securities Act of 1933 and securities eligible for resale pursuant to Rule 144A thereunder. Certain Section 4(2) and Rule 144A securities may be treated as liquid securities if the Manager determines that such treatment is warranted. Even if determined to be liquid, holdings of these securities may increase the level of Fund illiquidity if eligible buyers become uninterested in purchasing them.

Temporary Investments

Each Fund may temporarily use a different investment strategy for defensive purposes in response to market conditions, economic factors, or other occurrences. This may adversely affect a Fund’s performance. You should note, however, that the Funds have not used a different investment strategy for defensive purposes in the past and may decide not to do so in the future — even in the event of deteriorating market conditions.

Securities Lending

Consistent with applicable regulatory policies, including those of the Board of Governors of the Federal Reserve System and the SEC, each of the Funds may make loans of its securities to member banks of the Federal Reserve System and to broker-dealers. These loans would be required to be secured continuously by collateral consisting of securities, cash, or cash equivalents maintained on a current basis at an amount at least equal to the market value of the securities loaned. A Fund would have the right to terminate a loan and obtain the securities loaned at any time on three days’ notice. During the existence of a loan, a Fund would continue to collect the equivalent of the dividends paid by the issuer on the securities loaned and would also receive interest on investment of cash collateral. A Fund may pay finder’s and other fees in connection with securities loans. Loans of securities involve a risk that the borrower may fail to return the securities or may fail to provide additional collateral.

48 Additional Investment Strategies, Risk, and Portfolio Holdings Information

Portfolio Holdings Information

A description of the Funds’ policies and procedures with respect to the disclosure of the Funds’ portfolio securities is available in the Funds’ Statement of Additional Information and at www.domini.com. Currently, disclosure of each Fund’s holdings is required to be made quarterly within 60 days of the end of each fiscal quarter (each January 31, April 30, July 31, and October 31) in the Annual Report and the Semi-Annual Report to Fund shareholders and in the Quarterly Report on Form N-Q.

To obtain copies of Annual and Semi-Annual Reports, free of charge, call 1-800-582-6757. Each Annual, Semi-Annual, and Quarterly Report is available online at www.domini.com and on the EDGAR database on the SEC’s website, www.sec.gov.

In addition, Domini’s website contains information about each Fund’s portfolio holdings, including, as applicable, the security description, the ticker, the security identification number, price per share, par value, market value, and percentage of total investments, in each case updated as of the end of the most recent calendar quarter (i.e., each March 31, June 30, September 30, and December 31). This information is provided on the website with a lag of at least 30 days and will be available until updated for the next calendar quarter. During the first calendar quarter of a Fund’s operations and for 30 days thereafter, Domini’s website may also contain portfolio holdings information with respect to a Fund as of 5 business days after commencement of operations, or any later date in such calendar quarter with a lag, in each case, of at least 7 business days. Such information is limited to descriptions of the securities held by the Fund and the identification numbers and/or ticker symbols for such securities. To find this information, please visit www.domini.com, click on “Domini Funds” at the top of the page, and select the appropriate Fund for which you wish to retrieve portfolio holdings information.

Additional Information

The Funds are not required to use every investment technique or strategy listed in this prospectus or in the Statement of Additional Information. For additional information about the Funds’ investment strategies and risks, the Funds’ Statement of Additional Information is available, free of charge, from Domini, or online at www.domini.com.

Additional Investment Strategies, Risk, and Portfolio Holdings Information 49

WHO MANAGES THE FUNDS?

Investment Manager

Domini Social Investments LLC (Domini or the Manager), 536 Broadway, 7th floor, New York, NY 10012, has been managing money since November 1997. As of September 30, 2008, Domini managed more than [$1.1] billion in assets for individual and institutional investors who are working to create positive change in society by using social and environmental standards in their investment decisions. Domini provides the Funds with investment supervisory services, overall operational support, and administrative services.

For each Fund, Domini sets the social and environmental standards and determines which securities are eligible for investment. Domini also has authority to determine from time to time what securities are purchased, sold, or exchanged, and what portion of assets are held uninvested.

Domini’s social and environmental research is conducted by a team of analysts led by Steven Lydenberg. Mr. Lydenberg, CFA, has been the chief investment officer of Domini since 2003 and vice president of the Domini Funds since 1990. As chief investment officer, Mr. Lydenberg is primarily responsible for investment eligibility determinations, the development and oversight of Domini’s social and environmental standards, and Domini’s Community Impact Gradient.

Mr. Lydenberg has been active in social research since 1975. Mr. Lydenberg was a founder of KLD Research & Analytics, Inc., served as its research director from 1990 to 2001, and served on KLD’s Domini 400 Social IndexSM Committee through March 31, 2005. From 1987 to 1989, he was an associate with Franklin Research and Development Corporation (now known as Trillium Asset Management). For 12 years he worked with the Council on Economic Priorities, ultimately as director of corporate accountability research. Mr. Lydenberg holds a B.A. in English from Columbia College and an M.F.A. in theater arts from Cornell University, and holds the Chartered Financial Analyst designation.

The Domini standards committee may be convened as necessary for interpretation of Domini’s social and environmental standards. The standards committee currently includes Amy Domini, chief executive officer, and Steven Lydenberg, chief investment officer, and may include other Domini employees.

Investment Submanagers

The Manager, subject to the supervision of the Board of Trustees of the Funds (the “Board”), acts as a “manager of managers,” and oversees the Funds’ day-to-day operations and manages the investments of each Fund. The Manager may delegate to a submanager the responsibility for day-to-day management of the investments of each Fund, subject to the Manager’s oversight. The Manager also recommends the appointment of additional or replacement submanagers to the Funds’ Trustees. In the

future, the Funds and the Manager may request exemptive relief from the SEC or otherwise comply with the Investment Company Act of 1940, and the rules thereunder, to permit the Manager and the Fund, subject to the supervision of the Board, to add or terminate a submanager without shareholder approval.

Domini Social Equity Fund, Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, Domini PacAsia Social Equity Fund. Wellington Management Company, LLP (Wellington Management or the Submanager), with its principal offices at 75 State Street, Boston, MA 02109, provides investment submanagement services to each of the Funds pursuant to a Submanagement Agreement with Domini. As of September 30, 2008, Wellington Management had investment management authority with respect to approximately $ billion in assets.

Wellington Management buys and sells stocks that Domini determines meet each Fund’s social and environmental standards using a quantitative stock selection approach within a risk-managed portfolio construction framework. The quantitative stock selection approach incorporates a diverse set of factors based on fundamental and technical inputs. The quantitative stock selection approach incorporates value and momentum as primary investment themes.

Mammen Chally, CFA, a vice president and equity portfolio manager of Wellington Management, has served as the portfolio manager for the Domini Social Equity Fund or the fund in which it formerly invested since 2006. Mr. Chally joined Wellington Management as an investment professional in 1994.

Doris T. Dwyer, a vice president and equity portfolio manager of Wellington Management, has served as the portfolio manager for the Domini European Social Equity Fund or the fund in which it formerly invested since 2006. Ms. Dwyer has been involved in portfolio management and securities analysis for the Fund since 2005. Ms. Dwyer joined Wellington Management as a portfolio manager in 1998.

Manjit S. Bakshi, CFA, a vice president and equity portfolio manager of Wellington Management, has served as the portfolio manager for the Domini European PacAsia Social Equity Fund and the Domini PacAsia Social Equity Fund, or the fund in which each formerly invested, since 2006. Prior to joining Wellington Management as a portfolio manager in 2004, Mr. Bakshi was a senior managing director at TIAA-CREF (2004), and chief operating officer for RISConsulting LLC (2003).

The Statement of Additional Information contains additional information about the compensation of these investment professionals, other accounts managed by them, and their ownership of the securities of the applicable Fund.

Who Manages the Funds? 51

Domini Social Equity Fund. For the services Domini and Wellington Management provide to the Domini Social Equity Fund, they receive aggregate fees at the following rates: 0.30% of the first $2 billion of net assets managed, 0.29% of the next $1 billion, and 0.28% of net assets managed in excess of $3 billion. Under the Sponsorship Agreement between Domini and the Domini Social Equity Fund, Domini’s fee is 0.45% of the first $2 billion of net assets managed, 0.44% of the next $1 billion, and 0.43% of net assets managed in excess of $3 billion.

For the services Domini and Wellington Management provided during the fiscal year ended July 31, 2008, to the Fund and to the Domini Social Equity Trust, the master fund in which the Fund formerly invested substantially all its assets, they received a total of % of the average daily net assets of the Domini Social Equity Fund, after waivers.

A discussion regarding the basis of the Board of Trustees’ approval of the Domini Social Equity Fund’s Management and Submanagement Agreements with Domini and Wellington Management, respectively, will be available in the Domini Social Equity Fund’s Semi-Annual Report to shareholders for the fiscal period ended January 31, 2009.

Domini European Social Equity Fund. For the services Domini and Wellington Management provide to the Domini European Social Equity Fund they receive aggregate fees at the following rates: 1.00% of the first $250 million of net assets managed, 0.94% of the next $250 million, and 0.88% of net assets managed in excess of $500 million.

For the services Domini and Wellington Management provided during the fiscal year ended July 31, 2008, to the Fund and to the Domini European Social Equity Trust, the master fund in which the Fund formerly invested substantially all its assets, they received a total of % of the average daily net assets of the Domini European Social Equity Fund, after waivers.

A discussion regarding the basis of the Board of Trustees’ approval of the Domini European Social Equity Fund’s Submanagement Agreement with Wellington Management will be available in the Domini European Social Equity Fund’s Semi-Annual Report to shareholders for the fiscal period ended January 31, 2009.. A discussion regarding the basis of the Board of Trustees’ approval of the continuance of the Domini European Social Equity Fund’s Management Agreement with Domini is available in the Domini European Social Equity Fund’s Annual Report to shareholders for the fiscal year ended July 31, 2008.

Domini European PacAsia Social Equity Fund. For the services Domini and Wellington Management provide to the Domini European PacAsia Social Equity Fund, they receive aggregate fees at the following rates: 1.00% of the first $250 million of net assets managed, 0.94% of the next $250 million of net assets managed, and 0.88% of net assets managed in excess of $500 million. For the services Domini and Wellington provided during the fiscal year ended July 31, 2008, to the Fund and to the Domini

52 Who Manages the Funds?

European PacAsia Social Equity Trust, the master fund in which the Fund formerly invested substantially all its assets, they received a total of 1.00% of the average daily net assets of the Domini European PacAsia Social Equity Fund, after waivers.

A discussion regarding the basis of the Board of Trustees’ approval of the Domini European PacAsia Social Equity Fund’s Submanagement Agreement with Wellington Management will be available in the Domini European PacAsia Social Equity Fund’s Semi-Annual Report to shareholders for the fiscal period ended January 31, 2009. A discussion regarding the basis of the Board of Trustees’ approval of the continuance of the Domini European PacAsia Social Equity Fund’s Management Agreement with Domini is available in the Domini European PacAsia Social Equity Fund’s Annual Report to shareholders for the fiscal year ended July 31, 2008.

Domini PacAsia Social Equity Fund. For the services Domini and Wellington Management provide to the Domini PacAsia Social Equity Fund they receive aggregate fees at the following rates: 1.00% of the first $250 million of net assets managed, 0.94% of the next $250 million of net assets managed, and 0.88% of net assets managed in excess of $500 million. For the services Domini and Wellington provided during the fiscal year ended July 31, 2008, to the Fund and the Domini PacAsia Social Equity Trust, the master fund in which the Fund formerly invested substantially all its assets, they received a total of 1.00% of the average daily net assets of the Domini PacAsia Social Equity Fund, after waivers.

A discussion regarding the basis of the Board of Trustees’ approval of the Domini PacAsia Social Equity Fund’s Submanagement Agreement with Wellington Management will be available in the Domini PacAsia Social Equity Fund’s Semi-Annual Report to shareholders for the fiscal period ended January 31, 2009. A discussion regarding the basis of the Board of Trustees’ approval of the continuance of the Domini PacAsia Social Equity Fund’s Management Agreement with Domini is available in the Domini PacAsia Social Equity Fund’s Annual Report to shareholders for the fiscal year ended July 31, 2008.

Domini Social Bond Fund

Seix Investment Advisors LLC (“Seix”), a wholly owned subsidiary of Ridgeworth Capital Management, Inc., (“Ridgeworth”) (formerly, known as Trusco Capital Management, Inc.), provides investment submanagement services to the Domini Social Bond Fund pursuant to a Submanagement Agreement with Domini. The submanager’s predecessor, Seix Advisors, Inc. (Seix Advisors), the former fixed-income division of Ridgeworth, provided investment submanagement services to the Fund until April 25, 2008. Seix is located at 10 Mountainview Road, Suite C-200, Upper Saddle River, NJ 07458. Seix Investment Advisors LLC (“Seix”), a wholly owned subsidiary of Ridgeworth Capital Management, Inc., (“Ridgeworth”) (formerly, known as Trusco Capital Management, Inc.), provides investment submanagement services to the

Who Manages the Funds? 53

Domini Social Bond Fund pursuant to a Submanagement Agreement with Domini. The submanager’s predecessor, Seix Advisors, Inc. (Seix Advisors), the former fixed-income division of Ridgeworth, provided investment submanagement services to the Fund until April 25, 2008. Seix is located at 10 Mountainview Road, Suite C-200, Upper Saddle River, NJ 07458. Seix Advisors was spun-off into Seix in connection with a corporate reorganization of Ridgeworth. Ridgeworth is a wholly owned subsidiary of SunTrust Banks, Inc. As of September 30, 2008, Seix had approximately $[ ] billion in assets under management, including, over $[ ] billion in socially responsible assets.. As of September 30, 2008, Seix had approximately $[ ] billion in assets under management, including, over $[ ] billion in socially responsible assets.

James Keegan has served as the portfolio manager primarily responsible for the day-to-day management of the Domini Social Bond Fund since April 2008. Mr. Keegan joined Seix as the chief investment officer and member of the investment grade funds’ management team in March 2008. Mr. Keegan has more than 25 years of investment experience. Prior to joining Seix, Mr. Keegan was a senior vice president at American Century Investments (2006-2008), private investor (2003-2006), and chief investment officer for Westmoreland Capital Management, LLC (2002-2003). The Statement of Additional Information contains additional information about Mr. Keegan’s compensation, other accounts managed by him, and his ownership of the securities of the Fund.

For the services Domini and Seix (including its predecessor) provided to the Domini Social Bond Fund during the fiscal year ended July 31, 2008, they received a total of [ ]% of the average daily net assets of the Domini Social Bond Fund, after waivers. A discussion regarding the basis of the Board of Trustees’ approval of the continuance of the Domini Social Bond Fund’s Management and Submanagement Agreements with Domini and Seix, respectively, is available in the Domini Social Bond Fund’s Annual Report to shareholders for the fiscal year ended July 31, 2008.

54 Who Manages the Funds?

THE FUNDS’ DISTRIBUTION PLAN

DSIL Investment Services LLC, a wholly owned subsidiary of Domini, is the distributor of each Fund’s shares. Each Fund has adopted a Rule 12b-1 plan with respect to its Investor shares that allows the Fund to pay its distributor on an annual basis for the sale and distribution of the Investor shares and for services provided to shareholders. These annual distribution and service fees may equal up to 0.25% of the average daily net assets of each Fund’s Investor shares. The Funds do not pay any distribution and service fees with respect to the Class R shares. Because distribution and service fees are paid out of the assets of the Investor shares on an ongoing basis, over time the fee will increase the cost of your investment and may cost you more than paying other types of sales charges.

These fees may be used to make payments to the Funds’ distributor and to broker-dealers, financial institutions, or other financial intermediaries as compensation for the sale of Fund shares, and to make payments for advertising, marketing, or other promotional activity, and for providing personal shareholder services or the maintenance of shareholder accounts.

For more information about the Funds’ distribution plan relating to Investor shares, see the expense tables in “The Funds at a Glance” section and in the Statement of Additional Information.

ADDITIONAL PAYMENTS TO FINANCIAL INTERMEDIARIES

Certain financial intermediaries may request, and the Funds’ distributor and/or its affiliates may agree to make, payments in addition to 12b-1 fees and sales charges, if any, out of the distributor’s and/or its affiliate’s own resources. These additional payments are sometimes referred to as “revenue sharing.” These payments assist in the efforts to promote the sale of the Funds’ shares. The Funds’ distributor and/or its affiliates agree with the financial intermediary on the methods for calculating any additional compensation, which may include the level of sales or assets attributable to the firm. Not all intermediaries receive additional compensation and the amount of compensation varies. These payments could be significant to an intermediary. The Funds’ distributor/and or its affiliates determine which financial intermediaries to support and the extent of the payments they are willing to make.

The Funds’ distributor and/or its affiliates hope to benefit from revenue sharing by increasing the Funds’ net assets, which, as well as benefiting the Funds, would result in additional management and other fees for the investment advisor and its affiliates. In consideration for revenue sharing, an intermediary may include the Funds in its sales system or give access to members of its sales force or management. In addition, the intermediary may provide marketing support, shareholder servicing, and/or other activities. Although an intermediary may seek revenue sharing payments to offset costs incurred by the firm in servicing its

clients that have invested in the Funds, the intermediary may earn a profit on these payments.

If you purchase shares though a financial intermediary, revenue sharing payments may provide your firm, its employees, or associated persons with an incentive to favor the Funds. You should ask your firm about any payments it receives from the Funds’ distributor, its affiliates, and/or the Funds, as well as about fees and/or commissions it charges.

The Funds’ distributor and/or its affiliates may have other relationships with various banks, trust companies, broker-dealers, or other financial intermediaries relating to the provision of services to the Funds, such as providing omnibus account services, transaction processing services, or effecting portfolio transactions for Funds. If your intermediary provides these services, the Funds, the Funds’ distributor, and/or its affiliates may compensate the intermediary for these services.

56 The Funds’ Distribution Plan

SHAREHOLDER MANUAL

This section provides you with information about each share class, how sales charges are calculated (Class A shares only), buying, selling, and exchanging shares of the Funds, how Fund shares are valued, Fund distributions, and the tax consequences of an investment in a Fund.

Table of Contents [To Be Updated By Amendment]


For More Information			A-1
Opening an Account			A-2
Summarizing important information about procedures for opening a new account, quick reference information, and how to open an account,
Description of Share Classes			A-5
How sales Charges are Calculated for Class A Shares			A-9
Types of Accounts and Account Service Fees			A-14
Buying, Selling and Exchanging Shares
Buying, Selling, and Exchanging Investor Shares			A-16
Buying, Selling, and Exchanging Class A Shares			A-20
Buying and Selling Institutional Shares			A-23
Buying and Selling Class R Shares			A-26
Automatic Transaction Plans			A-26
Additional Information on Selling Shares			A-28
Providing information about signature guarantees, large redemptions, market timing, and redemption fees
How the Price of Your Shares Is Determined			A-32
How can I find out the NAV of my shares?			A-32
How do you determine what price I will get when I buy shares?			A-32
How do you determine what price I will get when I sell shares?			A-33
How is the value of securities held by the Funds determined?			A-33
Fund Statements and Reports			A-34
Dividends and Capital Gains			A-35
Taxes			A-36
Anti-Money Laundering			A-36
Rights Reserved by the Funds			A-37

For More Information

All investors may visit our website at www.domini.com for more information on the following:


•	Investing in the Funds

•	Your account

•	The daily price of your shares

•	Socially responsible investing

Investor share, Institutional share, and Class R investors: You may also call our Shareholder Services department toll-free at 1-800-582-6757 for additional information.

Class A investors: You may call your brokerage account Service Organization, or if you do not have a Service Organization, you may call our Fund Services department toll-free at 1-800-498-1351 for additional information.

A-1

Shareholder Services and Fund Services representatives are available to take your call business days, 9 am to 5 pm, Eastern Time.

Investor share investors: You may make transactions, review account information, and obtain the price for your shares 24 hours a day, 7 days a week, by using our automated telephone system or visiting our website.

Class A investors: You may review account information and obtain the price for your shares 24 hours a day, 7 days a week, by using our automated telephone system or visiting our website.

Institutional share and Class R shareholders: You may obtain the price for your shares 24 hours a day, 7 days a week, by using our automated telephone system or visiting our website.

OPENING AN ACCOUNT

Important Information About Procedures
for Opening a New Account

To help the government fight the funding of terrorism and money laundering activities, federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

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Quick Reference

Ticker Symbol

Domini Social Equity Fund

Investor shares — DSEFX
Class A shares
Institutional shares
Class R shares — DSFRX

Domini European Social Equity Fund

Investor shares — DEUFX

Class A shares

Domini European PacAsia Social Equity Fund

Investor shares — DUPFX

Class A shares

Domini PacAsia Social Equity Fund

Investor shares — DPAFX
Class A shares

Domini Social Bond Fund

Investor shares — DSBFX

Newspaper Listing:

Domini Social Equity Fund

Investor shares — Domini Soc Inv-Soc Eq

Domini European Social Equity Fund

Investor shares — Domini Soc Inv-Euro Soc Eq

Domini European PacAsia Social Equity Fund

Investor shares — Not yet available

Domini PacAsia Social Equity Fund

Investor shares — Not yet available

Domini Social Bond Fund

Investor shares — Domini Soc Inv-Soc Bd

Account Statements are mailed quarterly or monthly (Institutional shares only). Account statements for Investor shares are also available on our website.

Trade Confirmations are sent after purchases (except Automatic Investment Plan purchases) and redemptions (exept Systematic Withdrawal Plan redemptions).

Annual and Semi-Annual Reports are mailed in late September and March, respectively, and are available online at www.domini.com.

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HOW TO OPEN AN ACCOUNT

1. Read this prospectus (and please keep it for future reference).

2. Review the “Description of Share Class” and decide which class is appropriate for you.

3. Review “Types of Accounts” and decide which type is appropriate for you.

4. Decide how much you want to invest. Please see “Description of Share Class” for minimum initial investment requirements.

5. For Investor, Institutional, and Class R shares decide whether to make your initial purchase by mail or bank wire, if applicable. Follow the simple instructions under “Buying, Selling, and Exchanging Shares” for the applicable share class.

6. For Class A shares, please review “How Sales Charges Are Calculated” and contact your Service Organization. Follow the simple instructions under “Buying, Selling, and Exchanging Shares — Class A Shares.”

Be sure to completely fill out and sign the Account Application appropriate for the account type and share class you have selected. If you need assistance, please call 1-800-582-6757, business days, 9 am to 5 pm, Eastern Time or your Service Organization (for Class A shares).

For more information on transferring assets from another mutual fund family, please call 1-800-582-6757.

What Is “Good Order”?

Purchase, exchange, and sale requests must be in “good order” to be accepted by a Fund. To be in “good order” a request must include the following:


•	The Fund name
•	The account number
•	The funds for the purchase by check or by wire or the amount of the transaction (in dollars or shares) for the exchange or sale
•	Name, address, and other information that will allow us to identify you
•	The signatures of all owners exactly as registered on the account (for redemption requests by mail)


•	For corporate or institutional accounts, a current list of authorized signatories or a related corporate resolution, as applicable


•	A Medallion Signature Guarantee, if required (see “Additional Information on Selling Shares” below)
•	Any supporting legal documentation that may be required

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DESCRIPTION OF SHARE CLASSES

The Domini Social Equity Fund offers four classes of shares: Investor, Class A, Institutional, and Class R shares. The Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund offer two classes of shares: Investor shares and Class A shares. the Domini Social Bond Fund offers only the Investor shares. As described below, each share class has its own cost structure and eligibility requirements, allowing you to choose the one that best meets your needs. The Funds, the Manager, and/or its affiliates may modify the qualifications for purchase of each class of shares at any time.

The Investor and Class A shares have each adopted a Rule 12b-1 plan that allows the class to pay distribution fees for the sale and distribution of its shares and for providing services to shareholders. Because these fees are paid out of Fund’s assets on an ongoing basis, over time these fees will increase the cost of your investment and may cost you more than paying other types of sales charges.

Dealers and other financial intermediaries purchasing shares for their customers in omnibus accounts are responsible for compliance with class eligibility restrictions.

INVESTOR SHARES


	•	No front-end sales charge.


	•	Distribution and service (12b-1) fees of 0.25%.


	•	The minimum initial investment in each Fund is as follows:


	•	$2,500 for regular accounts ($1,500 if using our Automatic Investment Plan)


	•	$1,500 for Retirement Accounts (Automatic Investment Plan also available)


	•	$1,000 for UGMA/UTMA Accounts (Automatic Investment Plan also available)


	•	$1,000 for Coverdell Education Savings Accounts (Automatic Investment Plan also available)


	•	The minimum to buy additional shares of each Fund is as follows:


	•	$50 for accounts using our Automatic Investment Plan


	•	$100 for all other accounts


	•	Each Fund may waive minimums for initial and subsequent purchases for investors who purchase shares through omnibus accounts.

CLASS A SHARES


	•	Front-end sales charges, as described under the subheading “How Sales Charges are Calculated For Class A Shares.”

Shareholder Manual A-5


	•	A contingent deferred sales charge on shares sold within one year of purchase as described under the subheading “Investments of $1,000,000 or More.”


	•	Distribution and service (12b-1) fees of 0.25%.


	•	The minimum initial investment in each Fund as follows:


	•	$2,500 for regular accounts ($1,500 if using our Automatic Investment Plan)


	•	$1,500 for Retirement Accounts (Automatic Investment Plan also available)


	•	$1,000 for UGMA/UTMA Accounts (Automatic Investment Plan also available)


	•	$1,000 for Coverdell Education Savings Accounts (Automatic Investment Plan also available)


	•	The minimum to buy additional shares of each Fund as follows:


	•	$50 for accounts using our Automatic Investment Plan


	•	$100 for all other accounts

INSTITUTIONAL SHARES


	•	No front-end sales charge.


	•	No 12b-1 fees.


	•	May only be purchased by or for the benefit of investors that meet the minimum investment requirements, have been approved by the distributor, and fall within the following categories: endowments, foundations, religious organizations and other nonprofit entities, individuals, retirement plan sponsors, family office clients, certain corporate or similar institutions, or omnibus accounts maintained by financial intermediaries.


	•	The minimum initial investment is generally $2 million for all accounts, except that defined contribution plan accounts must meet a minimum initial investment requirement of $10 million.


	•	Investors may meet the minimum initial investment amount by aggregating up to three separate accounts (other than retirement plan accounts) within the Fund.


	•	Defined contribution plan accounts meet eligibility levels at the sponsor level. Defined contribution plan accounts cannot be aggregated with defined contribution plans of unaffiliated sponsors to meet the $10 million minimum initial investment amount.


	•	Accounts in the Fund will not be established for omnibus or other accounts for which Domini provides recordkeeping and other shareholder services or for which the Fund is required to pay any type of administrative payment per participant account.

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CLASS R SHARES


	•	No front-end sales charge.


	•	No 12b-1 fees.


	•	Generally available only to certain eligible retirement and benefit plans, including 401(k) plans, 457 plans, profit sharing and money purchase pension plans, defined benefit plans, and nonqualified deferred compensation plans.


	•	Also available to endowments, foundations, religious organizations, and other tax-exempt entities that are approved by the Fund’s distributor.


	•	The sponsors of these retirement plans provide various shareholder services to the accounts.

If you purchase Fund shares through a broker-dealer, financial intermediary, or financial institution that has entered into an agreement with the Fund’s distributor or affiliates, your transaction may be subject to transaction charges. Investors in the Funds do not pay such transaction charges if shares are purchased directly from the Funds.

Shareholder Manual A-7

Domini Money Market Account^®

The Domini Money Market Account (DMMA) offered through ShoreBank is an FDIC-insured (up to certain limits) interest-bearing account with direct community development benefits. A DMMA is only available to individuals, trusts, and nonprofit organizations. You may open and maintain a DMMA at no charge, and take advantage of check-writing (with a $500 minimum per check) and easy transfers by telephone to and from your Domini Fund account. Check-writing privileges are not available for IRA accounts. A DMMA investment is subject to certain terms and conditions. Please call 1-800-582-6757 or visit www.domini.com for more information. The rate of interest for the DMMA will vary. The Domini Funds are not affiliated with any bank and are not insured by the FDIC.

A-8 Shareholder Manual

HOW SALES CHARGES ARE CALCULATED FOR CLASS A SHARES


	•	You buy Class A shares of a Fund at the offering price, which is the net asset value per share plus a front-end sales charge of up to 4.75%.


	•	You pay a lower sales charge as the size of your investment increases to certain levels (called breakpoints).


	•	You do not pay a sales charge on Class A share dividends or distributions that you reinvest in Class A shares of a Fund.


	•	Class A shares are subject to an annual distribution (12b-1) fee up to 0.25% of the Fund’s average daily net assets.

The table below shows the rate of sales charge you pay, depending on the amount of Class A shares you purchase. As provided in the table, the percentage sales charge declines based upon the dollar value of Class A shares you purchase. Your Service Organization receives a percentage of these sales charges as compensation for the services it provides to you. Your Service Organization may also receive the annual distribution fee payable on Class A shares at a rate of up to 0.25% of the average daily net assets represented by the Fund shares it services.

The Investor, Institutional, and Class R shares of the Domini Funds are not subject to sales charges. These share classes may not be available through your Service Organization.

The Funds offer additional ways to waive or reduce your sales charges as provided under “Waivers for Certain Class A Investors,” “Investments of $1,000,000 or More,” or “Reducing Your Sales Charges” below.


	Front-End Sales Charge
			Percentage of
	Percentage of		Net Amount
Amount of Purchase	Offering Price		Invested

Less than $50,000		4.75%		4.99%
$50,000 but less than $100,000		3.75%		3.90%
$100,000 but less than $250,000		2.75%		2.83%
$250,000 but less than $500,000		1.75%		1.78%
$500,000 but less than $1 million		1.00%		1.01%
$1 million and over		None		None

Your Service Organization also may impose transaction charges. Investors in the Class A, Institutional shares, and Class R shares of the Funds do not pay such transaction charges if shares are purchased directly from the Funds.

Please contact your Service Organization for more information about sales charges and transaction charges. Additional information about sales

Shareholder Manual A-9

charges is also included in the Funds’ Statement of Additional Information.

Waivers for Certain Class A Investors

Class A initial sales charges may be waived for certain types of investors, including the following:


	•	Investors participating in “wrap fee” or asset allocation programs or other fee-based arrangements sponsored by nonaffiliated broker-dealers and other financial institutions that have entered into agreements with the Funds, the distributor, or its affiliates


	•	Any accounts established on behalf of registered investment advisors or their clients by broker-dealers that charge a transaction fee and that have entered into agreements with the Funds, the distributor, or its affiliates

If you qualify for a waiver of the Class A initial sales charge, you must notify your Service Organization or the transfer agent at the time of purchase.

Investments of $1,000,000 or More

You do not pay an initial sales charge when you invest $1 million or more in a Class A shares of a Fund. However, you may be subject to a contingent deferred sales charge of up to 1.00% of the lesser of the cost of the shares at the date of purchase or the value of the shares at the time of redemption if you redeem within one year of purchase.

The Fund’s distributor may pay up to 1.00% to a Service Organization for Class A share purchase amounts of $1 million or more. In such cases, starting in the 13th month after purchase, the Service Organization will also receive the annual distribution fee of up to 0.25% of the average daily net assets of the Class A shares of a Fund held by its clients. Prior to the 13th month, the Fund’s distributor will retain the service fee. Where the Service Organization does not receive the payment of up to 1.00% from the Fund’s distributor, the Service Organization will instead receive the annual service fee starting immediately after purchase. In certain cases, the Service Organization may receive both a payment of up to 1.00% from the distributor as well as the annual distribution and service fee starting immediately after purchase. Please contact your Service Organization for more information.

Reducing Your Sales Charges

There are several ways you can combine multiple purchases of certain Domini Fund shares to take advantage of the breakpoints in the sales charge schedule.

Right of Accumulation. The right of accumulation lets you add the value of certain Domini Fund shares you already own to the amount of your

A-10 Shareholder Manual

next purchase for purposes of calculating the initial sales charge. The calculation of this amount would include your current holdings of all Investor and Class A shares of each Domini Fund, except the Domini Social Bond Fund,

Letter of Intent. A letter of intent lets you purchase Class A shares over a 13-month period and receive the same sales charge as if all shares had been purchased at once. You can use a letter of intent to qualify for reduced sales charges if you plan to invest at least $50,000 in certain Domini Fund shares during the next 13 months. The calculation of this amount would include your current holdings of all Investor and Class A shares of each Domini Fund, except the Domini Social Bond Fund, as well as any reinvestment of dividends and capital gains distributions. When you sign this letter, the Fund agrees to charge you the reduced sales charges listed above. Completing a letter of intent does not obligate you to purchase additional shares. However, if you do not achieve the stated investment goal within the 13-month period, you are required to pay the difference between the sales charges otherwise applicable and sales charges actually paid, which may be deducted from your investment.

Group Investment Program. Family groups may be treated as a single purchaser under the right of accumulation privilege. Each investor has an individual account, but the group’s investments are lumped together for sales charge purposes, making the investors potentially eligible for reduced sales charges. A family group includes a spouse, parent, stepparent, grandparent, child, stepchild, grandchild, sibling, father-in-law, mother-in-law, brother-in-law, or sister-in-law, including trusts created by these family members.

In order to take advantage of any reduction in sales charges that may be available to you, you must inform your Service Organization. In order to obtain sales charge reductions, you may be required to provide information and records, such as account statements, to your Service Organization. Please retain all account statements. The records required to take advantage of a reduction in sales charges may not be maintained by the Fund, its transfer agent, or your Service Organization.

Waivers of Deferred Sales Charges

The deferred sales charge that may be charged on investments in Class A shares in excess of $1 million that are sold within one year of purchase will be waived in the case of the following:


	•	Sales of Class A shares held at the time you die or become disabled (within the definition in Section 72(m)(7) of the Internal Revenue Code, which relates to the ability to engage in gainful employment), if the shares are (1) registered either in your name (not a trust) or in the names of you and your spouse as joint tenants with rights of survivorship; or (2) held in a qualified corporate or self-employed retirement plan, IRA, or 403(b) Custodial Account, provided, in any

Shareholder Manual A-11


		case, that the sale is requested within one year of your death or initial determination of disability.


	•	Sales of Class A shares in connection with the following retirement plan “distributions”: (1) lump-sum or other distributions from a qualified corporate or self-employed retirement plan following retirement (or, in the case of a “key employee” of a “top heavy” plan, following attainment of age 591/2); (2) distributions from an IRA or 403(b) Custodial Account following attainment of age 591/2; or (3) a tax-free return of an excess IRA contribution (a “distribution” does not include a direct transfer of IRA, 403(b) Custodial Account, or retirement plan assets to a successor custodian or trustee). The charge also may be waived upon the tax-free rollover or transfer of assets to another retirement plan invested in the Fund. In such event, as described below, the Fund will “tack” the period for which the original shares were held onto the holding period of the shares acquired in the transfer or rollover for purposes of determining what, if any, deferred sales charge is applicable in the event that such acquired shares are redeemed following the transfer or rollover. The charge also may be waived on any redemption that results from the return of an excess contribution pursuant to Section 408(d)(4) or (5) of the Code or the return of excess deferral amounts pursuant to Code Section 401(k)(8) or 402(g)(2). In addition, the charge may be waived on any minimum distribution required to be distributed in accordance with Code Section 401(a)(9).


	•	Sales of Class A shares in connection with the Systematic Withdrawal Plan, subject to the conditions outlined below under “Systematic Withdrawal Plan.”

All waivers will be granted only following the Fund’s distributor receiving confirmation of your entitlement. If you believe you are eligible for a deferred sales charge waiver, please contact your Service Organization. In order to obtain a waiver, you may be required to provide information and records, such as account statements, to your Service Organization. Please retain all account statements. The records required for a deferred sales charge waiver may not be maintained by the Fund, its transfer agent, or your Service Organization.

Reinstatement Privilege

If you sell Class A shares of a Fund, you may reinvest some or all of the proceeds in the Class A shares of the Fund within 120 days without a sales charge, as long as the Fund’s distributor or your Service Organization is notified before you reinvest. If you paid a deferred sales charge when you sold shares and you reinvest in Class A shares of the Fund within 120 days of such sale, the amount of the deferred sales charge you paid will be deducted from the amount of sales charge due on the purchase of Class A shares of the Fund, if you notify your Service Organization. All accounts involved must have the same registration.

A-12 Shareholder Manual

More About Deferred Sales Charges

You do not pay a deferred sales charge on the following:


	•	Class A shares representing reinvested distributions and dividends


	•	Class A shares held longer than 1 year from the last day of the month of purchase

Each time you have a request to redeem shares, the Fund will first redeem any Class A shares in your account that have been held the longest.

The Fund’s distributor receives deferred sales charges as partial compensation for its expenses in selling shares, including the payment of compensation to your Service Organization.

* * * * *

For more information about sales charges, you may visit domini.com, consult your Service Organization, or refer to the Funds’ Statement of Additional Information.

Shareholder Manual A-13

TYPES OF ACCOUNTS

You may invest in the Funds through the following types of accounts:


Individual and Joint Accounts (nonretirement)		Invest as an individual or with one or more people. If you are opening a joint account, joint tenancy with rights of survivorship will be assumed unless other ownership is noted on your Account Application. You may also open an account to invest assets held in an existing personal trust.


Individual Retirement Accounts (IRAs)		You may open an account to fund a traditional IRA or a Roth IRA. There is a $10 annual maintenance fee per shareholder.


Uniform Gifts/Transfers to Minors Act (UGMA/UTMA) Accounts		These accounts are maintained by a custodian you choose (which may be you) on behalf of a minor. They provide a simple method for giving irrevocable gifts to children without having to establish a formal trust.


Coverdell Education Savings Accounts (Formerly Education IRAs)		These accounts may be established on behalf of any child with a Social Security number and are used to save for higher education expenses. There is a $10 annual maintenance fee per shareholder.


Employer-Sponsored Retirement and Benefit Plans		You may be able to open an account as part of an employer-sponsored retirement or benefit plan, such as a 401(k) plan, SEP-IRA, or SIMPLE IRA. There is a $10 annual maintenance fee for individual 403(b) accounts, SEP-IRAs, and SIMPLE IRAs.


For an Organization		You may open an account for a trust, corporation, partnership, endowment, foundation, or other entity.

You may download or request the application you need for the account type you have selected at www.domini.com or by calling 1-800-582-6757. Class A investors may request an application by contacting their Service Organization.

Automatic transaction plans are available for Investor and Class A shares and all account types. Please see “Automatic Transaction Plans” for more information.

A-14 Shareholder Manual

ACCOUNT SERVICE FEES

Domini deducts an annual account service fee of $15 from each Domini Fund account that has a balance below $10,000. Domini charges this fee in order to help defray the significant costs associated with printing and mailing paper statements and documents for each account.

The account service fee applies to both retirement and nonretirement Fund accounts held directly with Domini. The account service fee, which will be collected by redeeming Fund shares in the amount of $15, will be deducted from a Fund account only once per calendar year. The fee will be assessed based on your account balance on that day and will not take into account your average account balance for the year.

The account service fee will not be deducted on accounts held through intermediaries or participant accounts in employer-sponsored defined contribution plans.

You may avoid this account service fee by choosing paperless E-delivery of statements, prospectuses, and shareholder reports, and other materials for each of your Fund accounts.

To sign up for E-delivery, you must first establish online account access. Visit www.domini.com, to register for Account Access and select E-delivery.You will receive a notice by email when each new document is available. Then you may log on at your convenience to view, print, or save your document. There is no charge to establish E-delivery and you may view, cancel, or change your E-delivery profile at any time.

By electing E-delivery of Fund documents, you are authorizing Domini to discontinue hard copy mailings of that type of document. The account service fee will not be charged so long as your electronic delivery election remains in effect.

At its discretion, Domini reserves the right to waive or modify the account service fee at any time.

Shareholder Manual A-15

BUYING, SELLING, AND EXCHANGING INVESTOR SHARES

The following chart describes all the ways you can buy, sell, and exchange Investor shares of the Domini Funds. If you need any additional information or assistance, please call 1-800-582-6757.


METHOD	INSTRUCTIONS
Mail⁴	For regular mail:	For overnight
By Mail you may:	Domini Funds	deliveries only:
Buy	P.O. Box 9785	Domini Funds
Sell	Providence, RI 02940-9785	101 Sabin Street
Exchange		Pawtucket, RI 02860-1427
	To buy shares:
	• For your initial investment, complete an Account Application and mail it with your check.
	• For subsequent investments, fill out the investment slip included with trade confirmations or account statements, or send a note with your check indicating the Fund name, the account number, and the dollar amount.
	• Your check must be made payable to “Domini Funds.”Always include your account number on your check. Note: For our mutual protection, the Funds cannot accept cashier’s checks, money orders, checks made payable to third parties, starter checks, or traveler’s checks.
	• Please note that if you purchase shares by check and you sell those shares soon after purchase, your redemption proceeds will not be sent to you until your check clears, which may take up to 8 business days after purchase.

	To sell shares:
	You must include the following information or your request may be returned:
	• The Fund name
	• The Fund account number
	• The dollar amount or number of shares
	• The signatures of all authorized signers exactly as they appear on the initial application
	• A Medallion Signature Guarantee, if required (see “Additional Information on Selling Shares” below)

	To exchange shares:
	You must include the following information or your request may be returned:
	• The Fund names
	• The Fund account numbers
	• The dollar amount or number of shares
	• The signatures of all authorized signers exactly as they appear on the initial application

A-16


METHOD	INSTRUCTIONS
Online^3,4,5Online you may:	Current shareholders may buy, sell, and exchange shares online 24 hours a day by following these steps:
Buy	• Visit www.domini.com.
Sell	• Click the “Account Access” button.
Exchange	• Online help is available at each screen.


Phone^1,2,3,4,5	Automated:
By Phone you may: Buy Sell	Current shareholders with non-IRA accounts may buy, sell, and exchange shares using our automated telephone account access system 24 hours a day by following these steps:
Exchange	• Dial 1-800-582-6757.
	• Select “2” for automated account access.
	• Select “1” for account information.
	• Enter your account number followed by the pound sign(#).
	• Enter your Personal Identification Number (PIN).
	• Press “2” to process a transaction.
	• At any time you may press “8” to return to the previous menu or “9” to return to the main menu.
	Shareholder Services:
	Current shareholders may buy, sell, and exchange shares by calling 1-800-582-6757, business days, 9 am to 5 pm, Eastern Time, by following these steps:
	• Dial 1-800-582-6757.
	• Press “2,” then press “0” to speak with a Shareholder Services representative.
	Access to the automated telephone system may be limited during periods of peak demand, market volatility, system upgrades or maintenance, or for other reasons.


Bank Wire⁴	To buy shares:
By Bank Wire you may: Buy Sell	For your initial investment, complete an Account Application and mail it to Domini Funds at the address shown above for purchasing shares by mail.
	New accounts, call 1-800-582-6757 to obtain an account number before wiring funds.
	You must include the following information in your wire transfer or your money may be returned uninvested:
	• Bank:	PNC Bank
	• ABA:	031000053
	• Acct Name:	Domini Social Investments
	• Acct #:	8606905468
	• FBO:	Fund Name, Fund Number, Account Name, and Account Number at Domini Funds

Shareholder Manual A-17


METHOD		INSTRUCTIONS
Bank Wire⁴(Continued)		To sell shares: You may request receipt of redemption proceeds by wire online, in writing, or by speaking with a Shareholder Services representative at 1-800-582-6757.
		To establish wire redemption privileges on a new account, fill out the appropriate area on the Account Application and attach a voided check.
		If you would like to establish wire redemption privileges on an existing account, you must submit a written request that contains the following information:
		• Bank name and address
		• ABA/routing number
		• Account name and number
		• Account type (checking, money market, or savings)
		A Medallion Signature Guarantee must be included on the letter (see “Additional Information on Selling Shares”below for more information).There is a $10 wire transfer fee (deducted directly from sale proceeds) and a $1,000 minimum wire amount. The wire transfer fee and the minimum wire amount may be waived for certain individuals and institutions at the Manager’s discretion.


(1)		First-time users will need to call 1-800-582-6757, business days, 9 am to 5 pm, Eastern Time, to obtain a PIN and to set up ACH (Automated Clearing House) privileges, which are necessary to use this service.

(2)		Neither the Funds nor their transfer agent or distributor will be liable for any loss, liability, cost, or expense for acting on telephone instructions believed to be genuine. The Funds will employ reasonable procedures to confirm that instructions communicated by telephone are genuine. Please contact the Funds if you wish to suspend telephone redemption privileges.

(3)		Current shareholders may place ACH transactions online or through the automated telephone account access system. Your ACH transaction will be considered in good order on the date the payment for shares is received by the Funds. This may take up to 48 hours.

(4)		Redemptions or exchanges of shares made less than 30 days after settlement of purchase or acquisition through exchange will be subject to a redemption fee equal to 2% of the amount redeemed or exchanged, subject to certain exceptions. The redemption fee will be deducted from your proceeds and returned to the applicable Fund. If you acquired shares on different days, the “first in, first out” (FIFO) method is used to determine the holding period. This means that the shares you held the longest will be redeemed first for purposes of determining whether the redemption fee applies. Please see “Market Timing and Redemption Fee” below for additional information.


(5)		Sales (redemptions) exceeding $100,000 must be requested in writing (see “Buying, Selling, and Exchanging Shares by Mail” and “Additional Information on Selling Shares” for more information).

You may exchange all or a portion of your Fund shares into shares of the same class of any other available Domini Fund. You may also deposit redemption proceeds into the Domini Money Market Account.^®

A-18 Shareholder Manual

Shareholder Manual A-19

BUYING, SELLING, AND EXCHANGING CLASS A SHARES

The following chart describes all the ways you can buy, sell, and exchange Class A shares of the Domini Social Equity Fund, Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund. If you need any additional information or assistance, please contact your Service Organization or call the Funds at 1-800-498-1351.


METHOD	INSTRUCTIONS
Through a	For regular mail:	For overnight
Service	Domini Funds	deliveries only:
Organization	P.O. Box 9785	Domini Funds
or by Mail⁴	Providence, RI 02940-9785	101 Sabin Street Pawtucket, RI 02860-1427
Through a Service Organization you may: Buy Sell Exchange Certain investors may, by mail: Buy Sell Exchange	To buy shares: • For your initial investment, contact your Service Organization to open a brokerage account and make arrangements to buy shares. Your Service Organization may charge an annual account maintenance fee. • Complete an Account Application and deliver it with your check to your Service Organization. • Qualified retirement plans and certain other investors who are clients of certain Service Organizations may mail the completed Account Application and check directly to the Fund at the address above
	• For subsequent investments, fill out the investment slip included with trade confirmations or account statements, or send a note with your check indicating the Fund name, the account number, and the dollar amount. Deliver the check and your investment slip or note to your Service Organization or, if you are a qualified retirement plan or an investor who is eligible to buy shares directly from the Fund, mail them directly to the Fund.
	• Your check must be made payable to “Domini Funds.” Always include your account number on your check. Note: For our mutual protection, a Fund cannot accept cashier’s checks, money orders, checks made payable to third parties, starter checks, or traveler’s checks.
	• Please note that if you purchase shares by check and you sell those shares soon after that purchase, your redemption proceeds will not be sent to you until your check clears, which may take up to 8 business days after purchase.
	To sell shares:
	• Contact your Service Organization to sell shares of a Fund. Your Service Organization may charge you a fee for executing your order. The amount and applicability of such fee is determined and disclosed by your Service Organization.
	• For accounts held directly at a Fund, send written requests to sell shares to the Fund at the address above.
	• If you have a brokerage account with a Service Organization, your redemption proceeds will be placed in your account and not reinvested without your specific instruction. In other cases, unless you direct otherwise, your redemption proceeds will be paid by check and mailed to your address of record.

A-20


METHOD		INSTRUCTIONS
Through a Service Organization or by Mail⁴(Continued)		You must include the following information or your redemption request may be returned: • The Fund name • The Fund account number
		• The dollar amount or number of shares
		• The signatures of all authorized signers exactly as they appear on the initial application
		• A Medallion Signature Guarantee, if required (see “Additional Information on Selling Shares” below)
		To exchange shares:
		You must include the following information or your exchange request may be returned:
		• The Fund name
		• The Fund account number
		• The dollar amount or number of shares
		• The signatures of all authorized signers exactly as they appear on the initial application


Phone^1,2,3,4,5Certain investors may, by phone:		If you do not have a brokerage account with a Service Organization, you may be eligible to sell shares by phone through a Fund.
Sell		Automated:
		• If eligible, you may sell shares using our automated telephone account access system 24 hours a day by following these steps:
		• Dial 1-800-498-1351.
		• Select “2” for automated account access.
		• Select “1” for account information.
		• Enter your account number followed by the pound sign (#).
		• Enter your Personal Identification Number (PIN).
		• Press “2” to process a transaction.
		• At any time you may press “8” to return to the previous menu or “9” to return to the main menu.
		Fund Services:
		If eligible, you may sell shares by calling 1-800-498-1351, business days, 9 am to 5 pm, Eastern Time, by following these steps:
		• Dial 1-800-498-1351.
		• Select “2,” then press “0” to speak with a Fund Services representative.
		Access to the automated telephone system may be limited during periods of peak demand, market volatility, system upgrades or maintenance, or for other reasons.

Shareholder Manual A-21


METHOD		INSTRUCTIONS
Bank Wire⁴Certain investors may, by bank wire: Sell		If you do not have a brokerage account with a Service Organization, you may be eligible to have your redemption proceeds sent by wire to a bank account designated on your account application by requesting receipt of such proceeds by wire, in writing, or by speaking with a Fund Services representative at 1-800-498-1351.
		To establish wire redemption privileges on a new account, fill out the appropriate area on the Account Application and attach a voided check.
		If you would like to establish wire redemption privileges on an existing account, you must submit a written request that contains the following information:
		• Bank name and address
		• ABA/routing number
		• Account name and number
		• Account type (checking, money market, or savings)
		A Medallion Signature Guarantee must be included on the letter (see “Additional Information on Selling Shares” below). There is a $10 wire transfer fee (deducted directly from sale proceeds) and a $1,000 minimum wire amount. The wire transfer fee and the minimum wire amount may be waived for certain individuals and institutions at the Manager’s discretion.


(1)		First-time users will need to call 1-800-498-1351, business days, 9 am to 5 pm, Eastern Time, to obtain a PIN and to set up ACH (Automated Clearing House) privileges, which are necessary to use this service.


(2)		Neither the Funds nor its transfer agent or distributor will be liable for any loss, liability, cost, or expense for acting on telephone instructions believed to be genuine. The Funds will employ reasonable procedures to confirm that instructions communicated by telephone are genuine. Please contact the Funds if you wish to suspend telephone redemption privileges.


(3)		Certain investors may place ACH transactions through the automated telephone account access system. Your ACH transaction will be considered in good order on the date the payment for shares is received by the Fund if received by 4 pm. This may take up to 48 hours.


(4)		Redemptions of shares made less than 30 days after settlement of purchase will be subject to a redemption fee equal to 2% of the amount redeemed, subject to certain exceptions. The redemption fee will be deducted from your proceeds and returned to the Fund. If you acquired shares on different days, the “first in, first out” (FIFO) method is used to determine the holding period. This means that the shares you held the longest will be redeemed first for purposes of determining whether the redemption fee applies. Please see “Market Timing and Redemption Fee” below for additional information.


(5)		Sales (redemptions) exceeding $100,000 must be requested in writing (see “Buying, Selling, and Exchanging Shares by Mail” and “Additional Information on Selling Shares” for more information).

You may deposit redemption proceeds from a sale of all or a portion of your Fund shares into shares of the same class of any other available Domini Fund. You may also deposit redemption proceeds into the Domini Money Market Account.^®

A-22 Shareholder Manual

BUYING AND SELLING INSTITUTIONAL SHARES

The following chart describes all the ways you can buy, sell, and exchange Institutional shares of the Domini Social Equity Fund. If you need any additional information or assistance, please call 1-800-582-6757.


METHOD	INSTRUCTIONS
Mail⁴By Mail you may: Buy Sell Exchange	For regular mail: Domini Funds P.O. Box 9785 Providence, RI 02940-9785	For overnight deliveries only: Domini Funds 101 Sabin Street Pawtucket, RI 02860-1427
	To buy shares:
	• For your initial investment, complete an Account Application and mail it with your check.
	• For subsequent investments, fill out the investment slip included with trade confirmations or account statements, or send a note with your check indicating the Fund name, the account number, and the dollar amount.
	• Your check must be made payable to “Domini Funds.” Always include your account number on your check. Note: For our mutual protection, the Funds cannot accept cashier’s checks, money orders, checks made payable to third parties, starter checks, or traveler’s checks.
	• Please note that if you purchase shares by check and you sell those shares soon after purchase, your redemption proceeds will not be sent to you until your check clears, which may take up to 8 business days after purchase.
	To sell shares:
	You must include the following information or your request may be returned:
	• The Fund name
	• The Fund account number
	• The dollar amount or number of shares
	• The signatures of all authorized signers exactly as they appear on the initial application
	• A Medallion Signature Guarantee, if required (see “Additional Information on Selling Shares” below)
	To exchange shares:
	You must include the following information or your request may be returned:
	• The Fund names
	• The Fund account numbers
	• The dollar amount or number of shares
	• The signatures of all authorized signers exactly as they appear on the initial application

A-23


METHOD	INSTRUCTIONS
Phone^1,2,3,4,5	Automated:
By Phone you may:	Current shareholders with non-IRA accounts may buy, sell, and
Buy	exchange shares using our automated telephone account access
Sell	system 24 hours a day by following these steps:
Exchange	• Dial 1-800-582-6757.
	• Select “2” for automated account access.
	• Select “1” for account information.
	• Enter your account number followed by the pound sign(#).
	• Enter your Personal Identification Number (PIN).
	• Press “2” to process a transaction.
	• At any time you may press “8” to return to the previous menu or “9” to return to the main menu.
	Shareholder Services:
	Current shareholders may buy, sell, and exchange shares by calling 1-800-582-6757, business days, 9 am to 5 pm, Eastern Time, by following these steps:
	• Dial 1-800-582-6757.
	• Press “2,” then press “0” to speak with a Shareholder Services representative.
	Access to the automated telephone system may be limited during periods of peak demand, market volatility, system upgrades or maintenance, or for other reasons.


Bank Wire⁴	To buy shares:
By Bank Wire you may: Buy Sell
	For your initial investment, complete an Account Application and mail it to Domini Funds at the address shown above for purchasing shares by mail.
	New accounts, call 1-800-582-6757 to obtain an account number before wiring funds.
	You must include the following information in your wire transfer or your money may be returned uninvested:
	• Bank:	PNC Bank
	• ABA:	031000053
	• Acct Name:	Domini Social Investments
	• Acct #:	8606905468
	• FBO:	Fund Name, Fund Number, Account Name, and Account Number at Domini Funds

A-24 Shareholder Manual


METHOD		INSTRUCTIONS
Bank Wire⁴(Continued)		To sell shares: You may request receipt of redemption proceeds by wire online, in writing, or by speaking with a Shareholder Services representative at 1-800-582-6757.
		To establish wire redemption privileges on a new account, fill out the appropriate area on the Account Application and attach a voided check.
		If you would like to establish wire redemption privileges on an existing account, you must submit a written request that contains the following information:
		• Bank name and address
		• ABA/routing number
		• Account name and number
		• Account type (checking, money market, or savings)
		A Medallion Signature Guarantee must be included on the letter (see “Additional Information on Selling Shares” below for more information).There is a $10 wire transfer fee (deducted directly from sale proceeds) and a $1,000 minimum wire amount. The wire transfer fee and the minimum wire amount may be waived for certain individuals and institutions at the Manager’s discretion.


(1)		First-time users will need to call 1-800-582-6757, business days, 9 am to 5 pm, Eastern Time, to obtain a PIN and to set up ACH (Automated Clearing House) privileges, which are necessary to use this service.


(2)		Neither the Funds nor their transfer agent or distributor will be liable for any loss, liability, cost, or expense for acting on telephone instructions believed to be genuine. The Funds will employ reasonable procedures to confirm that instructions communicated by telephone are genuine. Please contact the Funds if you wish to suspend telephone redemption privileges.


(3)		Current shareholders may place ACH transactions online or through the automated telephone account access system. Your ACH transaction will be considered in good order on the date the payment for shares is received by the Funds. This may take up to 48 hours.


(4)		Redemptions or exchanges of shares made less than 30 days after settlement of purchase or acquisition through exchange will be subject to a redemption fee equal to 2% of the amount redeemed or exchanged, subject to certain exceptions. The redemption fee will be deducted from your proceeds and returned to the applicable Fund. If you acquired shares on different days, the “first in, first out” (FIFO) method is used to determine the holding period. This means that the shares you held the longest will be redeemed first for purposes of determining whether the redemption fee applies. Please see “Market Timing and Redemption Fee” below for additional information.


(5)		Sales (redemptions) exceeding $100,000 must be requested in writing (see “Buying, Selling, and Exchanging Shares by Mail” and “Additional Information on Selling Shares” for more information).

Shareholder Manual A-25

BUYING AND SELLING CLASS R SHARES

For information regarding the ways you can buy and sell Class R shares of the Domini Social Equity Fund please call 1-800-582-6757.

IMPORTANT: Once a redemption order is placed, the transaction cannot be cancelled by the shareholder.

AUTOMATIC TRANSACTION PLANS

Automatic transaction plans are available for your convenience to purchase or to sell Investor and Class A shares at specified intervals without having to manually initiate each transaction.

Automatic Investment Plan – Investor and Class A shares

You may authorize your Service Organization or, if you do not have a brokerage account with a Service Organization, a Fund, to have specified amounts automatically deducted from your bank account or Domini Money Market Account and invested in a Fund in monthly, quarterly, semi-annual, or annual intervals. This service can be established for your account at any time. For Investor shares call 1-800-582-6757 for more information. For Class A shares call your Service Organization, or, if you do not have a brokerage account with a Service Organization, the Funds at 1-800-498-1351, for more information.

This service may take up to four weeks to begin. Also, due to the varying procedures to prepare, process, and forward the bank withdrawal information to the Funds, there may be periodic delays in posting the funds to your account.

Systematic Withdrawal Plan – Investor and Class A shares

If you own shares of a Fund with an aggregate value of $10,000 or more, you may establish a Systematic Withdrawal Plan under which shares will be sold, at net asset value, in the amount and for the periods specified (minimum $100 per payment). Shares redeemed under the plan will not be subject to any applicable redemption fees.

The amount of your investment in a Fund at the time you elect to participate in the Systematic Withdrawal Plan is referred to as your “initial account balance.” You may not redeem more than 10% of your initial account balance in any calendar year under the Systematic Withdrawal Plan.

Each Fund reserves the right to change the terms and conditions of the Systematic Withdrawal Plan and may cease offering the Systematic Withdrawal Plan at any time.

Except as noted below, there is no charge to participate in the Systematic Withdrawal Plan. Call 1-800-582-6757 for more information.

A-26 Shareholder Manual

For Class A shares, your Service Organization may charge you a fee to participate in the Systematic Withdrawal Plan. Call your Service Organization, or, if you do not have a brokerage account with a Service Organization, the Funds at 1-800-498-1351, for more information.

Dollar-Cost Averaging

Dollar-cost averaging is a long-term investment strategy designed to avoid the pitfalls of timing the market by investing equal amounts of money at regular intervals (monthly, quarterly, and so on) over a long period of time.

Although the strategy doesn’t assure a profit or protect against a loss, the idea behind dollar-cost averaging is that over time an investor buys more shares at lower prices, and fewer shares at higher prices.

The key to dollar-cost averaging is to stick with it for the long term, through periods of rising and falling markets. Strictly adhering to a long-term dollar-cost averaging strategy, however, is a good way to avoid the mistake of investing all of your money when the market is high. Before using this strategy, investors should consider their financial ability to continue making purchases in a declining market.

To facilitate dollar-cost averaging you may purchase Fund shares at regular intervals through the Fund’s Automatic Investment Plan, if available.

Shareholder Manual A-27

ADDITIONAL INFORMATION ON SELLING SHARES

Signature Guarantees

In order to protect your account from fraud, you are required to obtain a Medallion Signature Guarantee from a participating institution for any of the following:


	•	Sales (redemptions) exceeding $100,000 or made within 30 days following any changes in account registration


	•	Redemptions made to a third party or to an address other than the address for which the account is registered (unless already established on your account)

The following types of institutions may participate in the Medallion Signature Guarantee program:


	•	Banks

	•	Savings institutions

	•	Credit unions

	•	Broker-dealers

	•	Other guarantors acceptable to the Funds and their transfer agent

The Funds and their transfer agent cannot accept guarantees from notaries public or organizations that do not provide reimbursement in the case of fraud. There are different Medallion limits based on the amount of money being redeemed. Please ensure you obtain the proper Medallion. The Funds or their transfer agent may, at their option, request further documentation prior to accepting requests for redemptions.

The Funds may allow Institutional share investors to waive the protection of being required to obtain a Medallion Signature Guarantee for sales requests exceeding $100,000, provided that all the following conditions are met:


	•	No changes have been made to the applicable account registration within 30 days prior to the request.


	•	The request is signed in exactly the same way the account is registered, by all necessary registered owners or authorized signers, as applicable.


	•	The proceeds are directed to an address for which the account is registered or another authorized address on file (e.g., a bank previously authorized by the registered owner).


	•	For corporate or institutional accounts, a resolution of the registered owner (or similar supporting documentation acceptable to the Fund) authorizing the election of this waiver is provided.

To elect to waive the Medallion Signature Guarantee requirement on a new account, fill out the appropriate area on the Account Application, and provide a Medallion Signature Guarantee, and a resolution of the registered owner (or similar supporting documentation acceptable to the

A-28 Shareholder Manual

Fund) authorizing such election. For existing accounts, if you would like to establish this waiver, you must fill out a Medallion Signature Guarantee Waiver form, accompanied by a Medallion Signature Guarantee and a resolution of the registered owner (or similar supporting documentation acceptable to the Fund) authorizing such election.

None of the Fund, its transfer agent, Domini, or any of their agents or affiliates will be liable for any loss, liability, cost, or expense for acting upon any written sales request subject to a Medallion Signature Guarantee waiver election reasonably believed to be genuine. Please contact the Fund if you wish to suspend this waiver.

Unusual Circumstances

Each Fund reserves the right to revise or terminate the telephone or the online redemption privilege at any time, without notice. In the event that a Fund suspends telephone redemption privileges, or if you have difficulty getting through on the phone, you will still be able to redeem your shares through the other methods listed above.

Each Fund may postpone payment of redemption proceeds under either of these circumstances:


	•	During any period in which the New York Stock Exchange is closed or in which trading is restricted

	•	If the SEC determines that an emergency exists

Large Redemptions

It is important that you call the Funds before you redeem any amount in excess of $500,000. We must consider the interests of all Fund shareholders and so reserve the right to delay delivery of your redemption proceeds — up to 7 days — if the amount to be redeemed will disrupt a Fund’s operation or performance.

Each Fund reserves the right to pay part or all of the redemption proceeds in kind, i.e., in securities, rather than cash. If payment is made in kind, you may incur brokerage commissions if you elect to sell the securities for cash.

In an effort to protect the Funds from the possible adverse effects of a substantial redemption in a large account, as a matter of general policy no shareholder or group of shareholders controlled by the same person or group of persons will knowingly be permitted to purchase in excess of 5% of the outstanding shares of a Fund, except upon approval of the Manager.

Market Timing and Redemption Fee

The Funds are long-term investments. Market timers, who buy and sell rapidly in the hopes of making a short-term profit, drive up costs for all other shareholders, including long-term shareholders who do not generate

Shareholder Manual A-29

these costs. Market timers can disrupt portfolio investment strategies, for example by causing a portfolio manager to sell securities to meet a redemption request when the manager might otherwise have continued to hold the securities, and may increase a Fund’s transaction costs, such as brokerage expenses. The Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund may be more susceptible to market timing by investors seeking to take advantage of time zone arbitrage opportunities when events affecting the value of the Fund’s portfolio occur after the close of the overseas markets but prior to the close of the U.S. market and the calculation of the Fund’s NAV. Do not invest with the Domini Funds if you are a market timer.

The Board of Trustees has approved a redemption fee to discourage the Funds from being used as vehicles for frequent short-term shareholder trading. Each Fund will deduct a redemption fee of 2% from any redemption or exchange proceeds if you sell or exchange shares after holding them less than 30 days. The redemption fee will be deducted from your redemption proceeds and returned to the applicable Fund. If you acquired shares on different days, the “first in, first out” (FIFO) method is used to determine the holding period. This means that the shares you hold the longest will be redeemed first for purposes of determining whether the redemption fee applies.

The redemption fee is not imposed on the following:


	•	Shares acquired as a result of reinvestment of dividends or distributions

	•	Shares purchased, exchanged, or redeemed by means of a preapproved Automatic Investment Plan or Systematic Withdrawal Plan arrangement

	•	Shares redeemed or exchanged by omnibus accounts maintained by intermediaries that are unable or unwilling to process the redemption fee

	•	Shares redeemed or exchanged through certain qualified retirement plans that are unable or unwilling to process the redemption fee

	•	Shares redeemed following the death of a shareholder

	•	Shares redeemed on the initiation of a Fund (e.g., for failure to meet account minimums)

	•	Share redemptions or exchanges of $25,000 or less

	•	Shares transferred from one class to another class of the same Fund

	•	Shares redeemed as a result of any changes in account registration

The Funds’ Board of Trustees has also approved methods for the fair valuation of securities held in each Fund’s portfolio in an effort to deter market timing activities. Please see “How the Price of Your Shares Is Determined — How is the value of securities held by the Funds determined?” for more information.

A-30 Shareholder Manual

In addition, the Funds’ Board of Trustees has adopted policies and procedures that are designed to discourage and detect excessive trading and market timing activities. These policies and procedures provide that Domini reviews transactions in excess of certain thresholds in order to monitor trading activity. If Domini suspects a pattern of market timing, we may reject the transaction, close the account, and/or suspend or terminate the broker if possible to prevent any future activity. The Funds do not knowingly accommodate excessive trading and market timing activities.

In certain circumstances, a financial intermediary, such as a broker, advisor, retirement plan, or third party administrator, will hold Fund shares on behalf of multiple beneficial owners in an omnibus account. The Funds do not know the identity of shareholders who hold shares through an omnibus account and must rely on the systems of the financial intermediary for that information. Consequently, the Funds’ ability to monitor trading or detect market timing in omnibus accounts may be limited. The Funds’ distributor, in accordance with applicable law, enters into agreements with financial intermediaries that require the intermediaries to provide certain information to the Funds to help identify excessive trading activity and to restrict or prohibit future purchases or exchanges of Fund shares by shareholders identified as having violated the Funds’ policies.

Financial intermediaries may apply purchase and exchange limitations that are different from the limitations imposed by the Funds. If you purchase, exchange, or sell Fund shares through a financial intermediary, you should check with your intermediary to determine what purchase and exchange limitations are applicable to your transactions.

Certain financial intermediaries are unable or unwilling to charge the Funds’ redemption fee as described above or may charge a different redemption fee. Some financial intermediaries will not apply one or more of the exemptions listed above or may exempt transactions not listed above in determining whether to charge a redemption fee. The Funds may determine not to charge a redemption fee on transactions implemented through a financial intermediary’s account. There are no assurances that financial intermediaries will properly assess the Funds’ redemption fee even in circumstances where they agree to do so. If you purchase, exchange, or sell Fund shares through a financial intermediary, you should check with your intermediary to determine which of your transactions will be subject to a redemption fee.

Because the Funds may not be able to detect all instances of market timing, there is no guarantee that the Funds will be able to identify, deter, or eliminate market timing or excessive trading of Fund shares.

Shareholder Manual A-31

HOW THE PRICE OF YOUR SHARES IS DETERMINED

The price of your shares is based on the net asset value of the applicable class of shares of the Fund that you hold. The net asset value (or NAV) of each class of shares of each Fund is determined as of the close of regular trading on the New York Stock Exchange, normally 4 pm, Eastern Time, on each day the Exchange is open for trading. This calculation is made by deducting the amount of the liabilities (debts) of the applicable class of shares of the applicable Fund, from the value of its assets, and dividing the difference by the number of outstanding shares of the applicable class of the Fund.


Net Asset Value (NAV) =		Total Assets − Total Liabilities Number of Shares Outstanding

To calculate the value of your investment, simply multiply the NAV by the number of shares of the Fund you own.

How can I find out the NAV of my shares?

You may obtain the NAV for your shares 24 hours a day online at www.domini.com or by phone by calling 1-800-582-6757 from a touch-tone phone and accessing our automated telephone system.

Newspaper Listings: This information is also listed in the mutual fund listings of most major newspapers. The Investor shares of the Domini Social Equity Fund, Domini European Social Equity Fund, and Domini Social Bond Fund are most commonly listed as Dom Soc Inv-Soc Eq, Domini Soc Inv-Euro Soc Eq, and Dom Soc Inv-Soc Bd, respectively. As of the date of this prospectus, the listing for the Investor shares of the Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund are not yet available.

Quarterly Statements: You will also receive this information quarterly, on your account statement.

How do you determine what price I will get
when I buy shares?

Investments will be processed at the next share price calculated after an order is received in good order by a Fund or its designated agent. Please note that purchase requests received after the share price has been calculated for any Fund, normally 4 pm, Eastern Time, will be processed at the next share price that is calculated by the Fund the next business day a Fund’s share price is calculated.

For current shareholders who place ACH transactions online or through the automated telephone account access system, please note that your ACH transaction will be considered in good order on the date the

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payment for shares is received by the Funds. This may take up to 2 business days.

Each Fund may stop offering its shares for sale at any time and may reject any order for the purchase of its shares.

How do you determine what price I will get
when I sell shares?

When you sell shares, you will receive the next share price that is calculated after your sale request is received by the Funds or its designated agent in good order. (See “What Is ’Good Order’?” above for more information.) Please note that redemption requests received after the share price has been calculated for any Fund, normally 4 pm, Eastern Time, will be processed at the next share price that is calculated by the Fund the next business day a Fund’s share price is calculated.

The appropriate Fund will normally pay for the shares on the next day the New York Stock Exchange is open for trading, but in any event within 7 days. Sales of shares made less than 30 days after settlement of a purchase or acquisition through exchange will be subject to an early redemption fee, with certain exceptions. (See “Additional Information on Selling Shares — Market Timing and Redemption Fee” above for more information.) If you purchased the shares you are selling by check, a Fund may delay the payment of the redemption proceeds until the check has cleared, which may take up to 8 business days from the purchase date. Each Fund may pay redemption proceeds by check or, if you have completed the appropriate box on the Account Application, by wire transfer.

Access to the automated telephone system and online processing may be limited during periods of peak demand, market volatility, system upgrades or maintenance, or for other reasons.

How is the value of securities held by the Funds determined?

Each Fund typically uses market prices to value securities. However, when a market price is not available, or when a Fund has reason to believe that the price does not represent market realities, the Fund will value securities instead by using methods approved by the Fund’s Board of Trustees. When a Fund uses fair value pricing, a Fund’s value for a security may be different from quoted market values or what a Fund would receive upon the sale of such security. Each short-term obligation (with a remaining maturity of 60 days or less) is valued at amortized cost, which constitutes fair value as determined by the Board of Trustees.

Because the Domini Social Equity Fund invests primarily in the stocks of large-cap U.S. companies that are traded on U.S. exchanges, it is expected that there would be limited circumstances in which the Fund would use fair value pricing — for example, if the exchange on which a portfolio security is principally traded closed early or if trading in a particular

Shareholder Manual A-33

security was halted during the day and did not resume prior to the time the Fund calculated its NAV. In addition, the Domini Social Bond Fund may invest, for example, in certain community development investments for which a market price might not readily be available, provided that the Fund may not invest more than 15% of its net assets in illiquid securities. In those circumstances, the fair value of the community development investment is determined by using methods approved by the Fund’s Board of Trustees.

The Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund invest primarily in the stocks of companies based in Europe and/or the Asia-Pacific region. Non-U.S. equity securities are valued on the basis of their most recent closing market prices at 4 pm Eastern Time except under the circumstances described below. Most non-U.S. markets close before 4 pm Eastern Time. If the Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, or Domini PacAsia Social Equity Fund determines that developments between the close of the non-U.S. market and 4 pm Eastern Time will, in its judgment, materially affect the value of some or all of the Fund’s securities, the Fund will adjust the previous closing prices to reflect what it believes to be the fair value of the securities as of 4 pm Eastern Time. In deciding whether to make these adjustments, the Fund reviews a variety of factors, including developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments trading in U.S. markets that represent foreign securities and baskets of foreign securities. A Fund may also fair value securities in other situations, for example, when a particular foreign market is closed but the Fund is open. The Fund uses outside pricing services to provide it with closing market prices and information used for adjusting those prices. The Fund cannot predict how often it will use closing prices and how often it will adjust those prices. As a means of evaluating its fair value process, the Fund routinely compares closing market prices, the next day’s opening prices in the same markets, and adjusted prices.

Please note that the Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund hold securities that are primarily listed on foreign exchanges that may trade during hours, on weekends, or on other days when a Fund does not price its shares. Therefore, the value of the securities held by the Funds may change on days when shareholders will not be able to purchase or sell the Funds’ shares.

FUND STATEMENTS AND REPORTS

Householding

To keep the Funds’ costs as low as possible, and to conserve paper, where practical we attempt to eliminate duplicate mailings to the same address. When we find that two or more Fund shareholders have the same last

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name and address, rather than send a separate report to each shareholder, we will send just one report to that address. If your household is receiving separate mailings that you feel are unnecessary, or if you want us to send separate statements, notify our Shareholder Services department at 1-800-582-6757.

Confirmation Statements

Statements confirming the trade date and the amount of your transaction are sent each time you buy, sell, or exchange shares. Confirmation statements are not sent for reinvested dividends or for purchases made through automatic investment plans. Always verify your transactions by reviewing your confirmation statement carefully for accuracy. Please report any discrepancies promptly to our Shareholder Services department at 1-800-582-6757.

Fund Financial Reports

The Funds’ Annual Report is mailed in September, and the Funds’ Semi-Annual Report is mailed in March. These reports include information about a Fund’s performance, as well as a complete listing of that Fund’s holdings. You may choose to receive these reports by email rather than hard copy by signing up for e-delivery at www.domini.com. The Funds’ most recent reports are available online at www.domini.com.

Tax Statements

Each year we will send you a statement reporting the previous year’s dividend and capital gains distributions, proceeds from the sale of shares, and distributions from IRAs or other retirement accounts as required by the IRS. Statements are generally mailed in January.

DIVIDENDS AND CAPITAL GAINS

Each Fund pays to its shareholders substantially all of its net income in the form of dividends. Dividends from net income (excluding capital Domini European Social Equity Fund, Domini European PacAsia Social Equity Fund, and Domini PacAsia Social Equity Fund semi-annually (usually in June and December), and by the Domini Social Bond Fund monthly. Any capital gain dividends are distributed annually in December.

You may elect to receive dividends either by check or in additional shares. Unless you choose to receive your dividends by check, all dividends will be reinvested in additional shares. In either case, dividends are normally taxable to you in the manner described below.

Shareholder Manual A-35

TAXES

This discussion of taxes is for general information only. You should consult your own tax advisor about your particular situation and the status of your account under state and local laws.

Taxability of Dividends

Each year the Funds will mail you a report of your dividends for the prior year and how they are treated for federal tax purposes. If you are otherwise subject to federal income taxes, you will normally have to pay federal income taxes on the dividends you receive from the Funds, whether you take the dividends in cash or reinvest them in additional shares. For taxable years beginning before January 1, 2011, noncorporate shareholders will be taxed at reduced rates on distributions designated by a Fund as “qualified dividend income,a” provided the recipient shareholder satisfies certain holding period requirements and refrains from making certain elections. Dividends designated by a Fund as capital gain dividends are taxable as long-term capital gains. Other dividends are generally taxable as ordinary income. Some dividends paid in January may be taxable to you as if they had been paid the previous December.

Buying a Dividend

Dividends paid by a Fund will reduce that Fund’s net asset value per share. As a result, if you buy shares just before a Fund pays a dividend, you may pay the full price for the shares and then effectively receive a portion of the purchase price back as a dividend on which you may need to pay tax.

Taxability of Transactions

Any time you sell or exchange shares held in a nonretirement account, it is considered a taxable event for you. Depending on the purchase price and the sale price of the shares you sell or exchange, you may have a gain or a loss on the transaction. You are responsible for any tax liabilities generated by your transactions.

IMPORTANT: By law, you must certify that the Social Security or taxpayer identification number you provide to a Fund is correct and that you are not otherwise subject to backup withholding for failing to report income to the IRS. The Funds may be required to withhold (and pay over to the IRS for your credit) taxes, at a current rate of 28%, from certain distributions and proceeds they pay you if you fail to provide this information or otherwise violate IRS requirements.

ANTI-MONEY LAUNDERING

As part of our required anti-money laundering program, we may ask you to provide various identification documents or other information when

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you open or make certain significant changes to your account. Until you provide the information or documents required, you may not be able to open an account or effect additional transactions.

RIGHTS RESERVED BY THE FUNDS

Each Fund and its agents reserve the following rights:


	•	To waive or change investment minimums

	•	To refuse any purchase or exchange order

	•	To stop selling shares at any time

	•	To change, revoke, or suspend the exchange privilege

	•	To suspend telephone transactions

	•	To reject any purchase or exchange order (including, but not limited to, orders that involve, in the Manager’s opinion, excessive trading, market timing, fraud, or 5% ownership) upon notice to the shareholder

	•	To change or implement additional policies designed to prevent excessive trading

	•	To adopt policies requiring redemption of shares in certain circumstances

	•	To freeze any account and suspend account services when notice has been received of a dispute between the registered or beneficial account owners or there is a reason to believe a fraudulent transaction may occur

	•	To otherwise modify the conditions of purchase and any services at any time

	•	To act on instructions believed to be genuine

	•	To notify shareholders and redeem accounts (other than retirement and Automatic Investment Plan accounts) with a value of less than $1,500

These actions will be taken when, in the sole discretion of management, they are deemed to be in the best interest of a Fund.

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FINANCIAL HIGHLIGHTS

The financial highlights tables are intended to help you understand a Fund’s financial performance for the past five years. Certain information reflects financial results for a single Fund share. Information for Class A shares and Institutional shares is not presented because those share classes had not yet commenced operations as of July 31, 2008. The total returns in the tables represent the rate that an investor would have earned (or lost) on an investment in the applicable Fund (assuming reinvestment of all dividends and distributions). This information has been audited by KPMG LLP, whose reports, along with the Funds’ financial statements, are included in the Annual Report, which is available upon request.

[TO BE UPDATED BY AMENDMENT]

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Domini Social Equity Fund

INVESTOR SHARES