497 1 supptoprosandsai0609.txt SUPPLEMENT TO COMB. PROS & SAI DATED MAY 1,2009 Supplement to Combined Prospectus of THE WRIGHT MANAGED EQUITY TRUST THE WRIGHT MANAGED INCOME TRUST dated May 1, 2009 Effective as of the date of this supplement, the above Prospectus is revised as follows to reflect portfolio management changes: The disclosure relating to the Investment Committee on page 17 of the Prospectus is replaced by the following: Committee Member Title Joined Wright in ---------------------------------------------------------------------------------------------------------------------------------- Peter M. Donovan, CFA President, Chairman and Chief Executive Officer 1966 and Chairman of the Investment Committee Judith R. Corchard Executive Vice President 1960 Michael F. Flament, CFA Senior Vice President - Investment and Economic Analysis 1972 Amit S. Khandwala Executive Vice President - Fixed Income Investments 1986 Michael Loura Vice President - U.S. Equity Management 2006 Anuradha Prabhu, CFA Vice President - Investment Research 2003 Anthony van Daalen, CFA Executive Vice President - Head of Fixed Income Investments 2002 -----------------------------------------------------------------------------------------------------------------------------------
The disclosure under "Portfolio Managers" relating to Wright Selected Blue Chip Equities Fund on page 17 of the Prospectus is replaced by the following: The Wright Selected Blue Chip Equities Fund is managed by Amit S. Khandwala and Anuradha Prabhu, CFA. Mr. Khandwala has been one of the persons primarily responsible for the day-to-day management of the Fund's portfolio since August 2008. Ms. Prabhu became one of the managers of the Fund effective June 8, 2009. Mr. Khandwala was Senior Vice President of Wright Investors' Service, the Fund's Adviser, from 1997 to 2004 when he became an Executive Vice President He joined Wright in 1986 and has 21 years of investment experience. Ms. Prabhu joined Wright as an Analyst in 2003. She became a Vice President in 2007 and has 8 years of investment experience. The disclosure under "Portfolio Managers" relating to Wright Major Blue Chip Equities Fund on page 18 of the Prospectus is replaced by the following: The Wright Major Blue Chip Equities Fund is managed by Amit S. Khandwala and Anuradha Prabhu, CFA effective June 8, 2009. Mr. Khandwala was Senior Vice President of Wright Investors' Service, the Fund's Adviser, from 1997 to 2004 when he became an Executive Vice President. He joined Wright in 1986 and has 21 years of investment experience. Ms. Prabhu joined Wright as an Analyst in 2003. She became a Vice President in 2007 and has 8 years of investment experience. The disclosure relating to Wright Current Income Fund on page 18 of the Prospectus is replaced by the following: The Wright Current Income Fund is managed by M. Anthony E. van Daalen, CFA effective June 8, 2009. Mr. van Daalen was Senior Vice President of Wright Investors' Service, the Fund's Adviser, from 2002 to 2004 when he became an Executive Vice President. He joined Wight in 2002 and has 25 years of investment experience. June 15, 2009 Supplement to Combined Statement of Additional Information of THE WRIGHT MANAGED EQUITY TRUST THE WRIGHT MANAGED INCOME TRUST dated May 1, 2009 Effective as of the date of this supplement, the above Statement of Additional Information is revised as follows to relect portfolio management changes: The paragraph relating to the portfolio managers on page 15 of the Statement of Additional Information is replaced by the following: The portfolio managers responsible for the day-to-day management of each Fund are: Anthony van Daalen for the Wright Current Income Fund and the Wright Total Return Bond Fund, Amit S. Khandwala for the Wright International Blue Chip Fund and Amit S. Khandwala and Anuradha Prabhu for the Wright Selected Blue Chip Fund and the Wright Major Blue Chip Fund. Each Manager is a member of Wright's investment Committee that controls the investment process. Each manager also has the responsibility for managing portfolios for other clients of the Adviser. The table below shows the number of accounts each portfolio manager managed and the total assets in the accounts in each listed category at the end of December 2008. The table also shows the number of accounts with respect to which the advisory fee is based on the performance of the account, if any, and the total assets in those accounts. Number of Accounts Total Assets Paying Number of Total Assets Paying a a Performance Fee Accounts Mil$ Performance Fee Mil$ ------------------------------------------------------------------------------------------------------------------------------------ WRIGHT CURRENT INCOME FUND Anthony van Daalen Registered Investment Companies 1 38.8 0 0 Other Accounts 0 0 0 0 WRIGHT INTERNATIONAL BLUE CHIP FUND Amit S. Khandwala Registered Investment Companies 1 67.1 0 0 Other Accounts 1 22.2 0 0 WRIGHT MAJOR BLUE CHIP FUND Amit S. Khandwala & Anuradha Prabhu Registered Investment Companies 1 32.5 0 0 Other Accounts 12 103.3 0 0 WRIGHT SELECTED BLUE CHIP FUND Amit S. Khandwala & Anuradha Prabhu Registered Investment Companies 1 13.4 0 0 Other Accounts 2 1.3 0 0 WRIGHT TOTAL RETURN BOND FUND Anthony van Daalan Registered Investment Companies 1 23.3 0 0 Other Accounts 8 170.8 0 0
The following table shows the dollar range of shares of a fund beneficially owned by a Portfolio Manager of a fund and in all Wright Managed Funds as of December 31, 2008: Dollar Range Aggregate Dollar Range of Fund Name and of Securities Owned Securities Owned in all Registered Funds Portfolio Manager in the Fund in the Wright Managed Funds ------------------------------------------------------------------------------------------------------------------------------------ WSBC Amit S. Khandwala $ 10,001-$ 50,000 Over $100,000 Anuradha Prabhu $ 0 $ 0 WMBC Amit S. Khandwala $ 10,001-$ 50,000 Over $100,000 Anuradha Prabhu $ 0 $ 0 WIBC Amit S. Khandwala Over $100,000 Over $100,000 WCIF Anthony van Daalen $ 10,001-$ 50,000 Over $100,000 WTRB Anthony van Daalen $ 10,001-$ 50,000 Over $100,000
June 15, 2009