IMS Capital Value Fund, IMS Strategic Allocation Fund

                       Supplement Dated September 2, 2003
                       To Prospectus Dated April 23, 2003


The " Management of the Funds" section of the Prospectus dated April 23, 2003 is
modified to reflect  that Arthur  Nunes has joined IMS Capital  Management  (the
investment advisor for the IMS Capital Value and IMS Strategic Allocation Funds)
as co-portfolio  manager with Carl Marker of the IMS Strategic  Allocation Fund.
Mr. Nunes has over 20 years of experience  providing  portfolio  management  and
financial advisory services. From March 1995 to May 2003, Mr. Nunes was employed
as a portfolio  manager with RBC Dain  Rauscher.  Mr. Nunes earned a Bachelor of
Science  degree  in  Engineering  from Ohio  State  University  and a  Certified
Financial Planner (CFP) designation in 1987.


This supplement and the Prospectus dated April 23, 2003, 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 April 23, 2003, which is incorporated
herein by reference  and can be obtained  without  charge by calling the Fund at
1-800-934-5550.