Registration No. 33-94412
                                                                     Rule 497(e)


          SUPPLEMENT DATED JUNE 28, 1996 TO THE STATEMENT OF ADDITIONAL
         INFORMATION DATED MARCH 29, 1996 OF TRANS ADVISER FUNDS, INC.


The second paragraph under the description of Portfolio Accounting on page 31 is
replaced with the following paragraph:

Under its Agreement,  FFC prepares and maintains  books and records of each Fund
on behalf of the  Company as  required  under the 1940 Act,  calculates  the net
asset value per share of each Fund and dividends and capital gain  distributions
and prepares  periodic  reports to shareholders  and the Securities and Exchange
Commission. For its services, FFC receives from the Company with respect to each
Fund a fee of $36,000 per year plus surchages of $6,000 to $24,000 for specified
asset levels. FFC is paid additional  surchages of $12,000 per year for tax-free
money market funds and for each of the  following:  a portfolio with more than a
specified  number  of  securities  positions  and/or  international   positions;
investments in derivative  instruments;  percentages of assets invested in asset
backed securities;  and a monthly portfolio turnover rate of 10% or greater. FFC
is required to use its best  judgment and efforts in rendering  fund  accounting
services  and is not liable to the  Company  for any action or  inaction  in the
absence  of bad  faith,  willful  misconduct  or  gross  negligence.  FFC is not
responsible  or  liable  for any  failure  or delay in  performance  of its fund
accounting  obligations  arising out of or caused,  directly or  indirectly,  by
circumstances  beyond  its  reasonable  control  and the  Company  has agreed to
indemnify and hold harmless FFC, its employees,  agents,  officers and directors
against  and  from  any and all  claims,  demands,  actions,  suits,  judgments,
liabilities, losses, damages, costs, charges, counsel fees and other expenses of
every nature and character arising out of or in any way related to FFC's actions
taken or failure to act with  respect to a Fund or based,  if  applicable,  upon
information,  instructions  or requests  with respect to a Fund given or made to
FFC by an officer of the Company duly authorized.  This indemnification does not
apply to FFC's  actions taken or failure to act in cases of FFC's own bad faith,
willful misconduct or gross negligence.