CDC NVEST EQUITY FUNDS                       CDC NVEST INCOME FUNDS
  CDC NVEST STAR FUNDS                   CDC NVEST TAX FREE INCOME FUNDS

Supplement dated December 27, 2002 to the currently effective Classes A, B and C
and Class Y Prospectuses  listed above, each as may be supplemented from time to
time

PORTFOLIO  MANAGER CHANGES Effective January 1, 2003, Robert Payne will serve as
co-portfolio  manager of the CDC Nvest  Municipal  Income Fund and the CDC Nvest
Massachusetts  Tax Free Income  Fund  following  Kent  Newmark's  retirement  on
December 31, 2002. Mr. Payne is Vice President and Portfolio  Manager of Loomis,
Sayles & Company,  L.P. ("Loomis  Sayles").  His investment career began in 1967
and he has been with  Loomis  Sayles  since 1982.  He  received a B.S.  from the
University of Utah and has over 35 years of investment experience.

Effective  January 1, 2003, John Hyll will serve as co-portfolio  manager of the
CDC Nvest  Government  Securities  Fund following  Kent Newmark's  retirement on
December 31, 2002. Mr. Hyll has served as co-portfolio  manager of the CDC Nvest
Short Term Bond Fund since June 2001 and also serves as portfolio manager of the
fixed-income portion of the CDC Nvest Balanced Fund and Loomis Sayles Short Term
Bond Fund.  Mr. Hyll,  Portfolio  Manager and Vice  President of Loomis  Sayles,
began his  investment  career in 1983 and joined Loomis Sayles in 1989. Mr. Hyll
received a B.A. and an M.B.A. from Baldwin-Wallace College. He has over 19 years
of investment experience.


Effective November 2002, Curt Rohrman replaced William R. Berger as co-portfolio
manager of the CDC Nvest  Large Cap  Growth  Fund and a segment of the CDC Nvest
Star Growth Fund. Mr. Rohrman,  a Senior Portfolio  Manager of Vaughan,  Nelson,
Scarborough  & McCullough,  L.P.  ("Vaughan  Nelson"),  joined the firm in 2002.
Prior to joining Vaughan Nelson he was a Portfolio  Manager with USAA Investment
Management  Company from 1997 to 2002. Mr. Rohrman  received a B.B.A. in finance
and marketing from Texas Christian  University and an M.B.A. in finance from the
University of Texas at Austin.  He holds the designation of Chartered  Financial
Analyst and has over 17 years of investment experience.

Effective   November  2002,  Mark  J.  Roach  joined  Margaret  M.  Buescher  as
co-portfolio  manager of the CDC Nvest Large Cap Value Fund and a segment of the
CDC Nvest Star Value Fund.  Mr. Roach,  a Portfolio  Manager of Vaughan  Nelson,
joined  the firm in 2002.  Prior to  joining  Vaughan  Nelson he was a  Security
Analyst for USAA  Investment  Management  Company  from 2001 to 2002,  an Equity
Analyst  with Fifth  Third  Bank from 1999 to 2001,  a Senior  Analyst  with The
Applied Finance Group,  Ltd. from 1998 to 1999 and an Equity Analyst with Lynch,
Jones and Ryan from 1997 to 1998.  Mr.  Roach  received a B.A.  in finance  from
Baldwin-Wallace   College.  He  has  over  10  years  of  investment  management
experience.

Effective  February  2003,  reference  to  Jon  Hickman  is  replaced  with  the
following:
Jurika & Voyles  employs a team  approach in managing  the CDC Nvest Jurika &
Voyles Small Cap Growth Fund.

                                                                      SP177-1202