January 29, 2001





                      CARL DOMINO GLOBAL EQUITY INCOME FUND

                            Supplement to Prospectus
                               Dated March 1, 2000



         Effective October 30, 2000 Bruce Honig is primarily responsible for the
day  to day  management  of the  Fund's  portfolio.  Mr.  Honig  graduated  from
Washington  & Lee  University  with a BA in  Economics  in 1982.  His career has
encompassed  investment  real estate  analysis  and real estate  development  as
President of a commercial real estate  development  firm.  Prior to joining Carl
Domino  Associates,  L.P. in 1997,  he was Director of Marketing for Weiss Money
Management  from August 1996 to October 1997, and a financial  adviser with John
Hancock  Financial  Services from June 1993 to August 1996. In addition to other
community involvements, Mr. Honig is the Vice-Chairman of the Board of Directors
for the South Florida Science Museum.














     This  supplement  and the  Prospectus  dated  March  1,  2000  provide  the
information a prospective  investor ought to know before investing and should be
retained for future  reference.  A Statement of Additional  Information has been
filed with the Securities and Exchange  Commission dated March 1, 2000, which is
incorporated  herein by reference and can be obtained  without charge by calling
the Fund at 1-800-507-9922.