Supplement dated December 1, 2001 to 
Prospectus dated October 1, 2001

RISK/ RETURN SUMMARY

WESTCORE EQUITY FUNDS

The Westcore Equity Funds are designed for long-term investors seeking capital appreciation who can tolerate the risks associated with investments in common stocks.

What are the investment objectives of the Westcore Equity Funds?

WESTCORE GROWTH FUNDS

• Westcore MIDCO Growth Fund ? long-term capital appreciation by investing primarily in medium-sized growth companies.
  
  
• Westcore Growth and Income Fund ? long-term total return by investing in equity securities selected for their growth potential and income-producing abilities.
  
  
• Westcore Small-Cap Growth Fund ? long-term growth of capital primarily through investments in small companies with growth potential.
  
  
• Westcore Select Fund ? long-term growth of capital primarily through investments in companies of any size selected for their growth potential.
  

WESTCORE INTERNATIONAL GROWTH FUNDS

• Westcore International Frontier Fund ? long-term growth of capital primarily through investments in international, small-cap growth companies.
  
  
• Westcore International Select Fund ? long-term growth of capital primarily through investments in international companies of any size selected for their growth potential.
  

WESTCORE VALUE FUNDS

• Westcore Blue Chip Fund ? long-term total return by investing in stocks of large, well-established companies whose stocks appear to be undervalued.
  
  
• Westcore Mid-Cap Opportunity Fund ? long-term capital appreciation by investing primarily in medium-sized companies whose stocks appear to be undervalued.
  
  
• Westcore Small-Cap Opportunity Fund ? long-term capital appreciation primarily through investments in companies with small capitalizations whose stocks appear to be undervalued.
  

Upon notice to shareholders, each Fund's investment objective may be changed by the Trust's Board of Trustees without the approval of shareholders.

What are the main investment strategies of the Westcore Equity Funds?

Westcore Growth Funds: emphasize investments in companies that have the potential to grow their earnings faster than the general economy.

The portfolio managers of the Growth Funds perform intensive research to identify companies in businesses and economic sectors with attractive growth prospects. To identify attractive stocks, the portfolio managers study a company's business by analyzing its financial information, industry, markets and competitors, frequently visiting its operations and/or interviewing management. Generally, a company is considered for a Fund if the portfolio managers believe the company's management team has the ability to execute their business plans and increase market share with innovative products or services, strong balance sheets and/or the access to money to finance their growth. Stocks may be sold when conditions have changed and the company's prospects are no longer attractive.

In addition, the portfolio manager and his team of analysts for the International Growth Funds utilize a consistent approach to seek companies outside the U.S. that are growing faster than the country in which they are located, faster than the industry in which they participate, and ideally faster than they have historically. They also seek to pay reasonable prices for these rapidly growing businesses whenever possible. They build their portfolios one company at a time, regardless of where they are located. They are not constrained by regional, country or industry allocation models that might force them to invest in companies they believe are less attractive.

Westcore MIDCO Growth Fund invests primarily in the common stock of medium-sized companies. Medium-sized companies may benefit from factors such as new products and services and more entrepreneurial management than larger companies. These companies may also have better opportunities for growth than larger companies by increasing their shares of the markets they serve.

Under normal circumstances, the Fund invests at least 80% of the value of its total net assets in mid-cap companies.* For purposes of this policy, the Fund currently considers mid-cap companies to be companies whose market capitalizations, at the time of purchase, are between $500 million and $12 billion. As of June 30, 2001, the median capitalization of the companies in which the Fund was invested was approximately $4.9 billion.

Westcore Growth and Income Fund invests primarily in the common stock of large- and medium-sized companies. The Fund considers large and medium-sized companies to be companies with market capitalizations of $500 million and above at the time of purchase. The Fund may invest up to 25% of its total assets in bonds convertible into common stock, which provide greater income while maintaining similar characteristics of common stocks. This Fund is designed to outperform the total return of the S&P 500 Index while seeking comparable dividend levels and risk.

Westcore Small-Cap Growth Fund invests primarily in the common stock of small companies which appear to have above average revenue and earnings growth potential. This includes, but is not limited to, Initial Public Offerings (?IPO?), a corporation's first offering of stock to the public. Small companies may benefit from factors such as new products and services and more entrepreneurial management than larger companies. Small company stocks may have higher return/risk potential than larger company stocks.

Under normal circumstances, at least 80% of the value of this Fund's total net assets is invested in small-cap companies.* For purposes of this policy, the Fund currently considers small-cap companies to be companies with market capitalizations of $2 billion or less at the time of purchase. As of June 30, 2001, the median capitalization of the companies in which the Fund was invested was approximately $820 million.

Westcore Select Fund invests primarily in common stock of a limited number of companies of any size. The portfolio manager looks for companies in attractive industries with above average revenue and earnings growth opportunities. The Fund normally invests in a core group of 20 to 35 common stocks. However, the portfolio manager also has the ability to maintain a substantial amount of the portfolio's assets invested in cash and short-term equivalents, if he believes market conditions are unfavorable for profitable investing.

The Westcore Select Fund portfolio manager believes that investment returns are more important than limiting portfolio turnover. This may result in higher short-term capital gains and higher brokerage commissions and other transaction costs, which could reduce the Fund's net returns. Prospective investors should carefully consider whether to invest through taxable or tax-deferred accounts.

Westcore International Frontier Fund invests primarily in equity securities of international companies with market capitalizations of $1.5 billion or less at the time of purchase that appear to have above average revenue and earnings growth potential. Under normal circumstances, the Fund invests at least 65% of its assets in common stocks of foreign companies in at least three different developed countries. In addition, the Fund may invest in larger foreign companies or in U.S.-based companies if, in our opinion, they represent better prospects for long-term growth than smaller foreign companies or than foreign companies generally. However, the portfolio manager also has the ability to maintain a significant amount of the portfolio's assets invested in cash and short-term equivalents, if he believes market conditions are unfavorable for profitable investing.

Westcore International Select Fund invests primarily in a limited number of equity securities of international companies of any size. The portfolio manager looks for companies in attractive industries with above average revenue and earnings growth opportunities. Under normal market conditions the Fund invests at least 65% of the value of its total assets in a core group of 20 to 35 common stocks in at least three different countries, either developed or emerging markets. In addition, the Fund may invest in U.S.-based companies if, in our opinion, they represent better prospects for long-term growth than foreign companies. However, the portfolio manager also has the ability to maintain a significant amount of the portfolio's assets invested in cash and short-term equivalents, if he believes market conditions are unfavorable for profitable investing.

The Westcore International Frontier and Westcore International Select Funds consider foreign companies to include those domiciled outside the United States or with the principal trading market of their securities outside the United States. For purposes of determining the countries in which the Funds invest, the Funds consider developed countries to include Australia, Austria, Belgium, Canada, Denmark, Finland, France, Germany, Hong Kong, Ireland, Israel, Italy, Japan, Mexico, the Netherlands, New Zealand, Norway, Portugal, Singapore, Spain, Sweden, Switzerland, and the United Kingdom. The Funds consider emerging market countries to be those countries not listed as developed countries above.

Westcore Value Funds: emphasize investments in companies that are undervalued and have improving business prospects due to strong company and industry dynamics.

As the first step in identifying stocks for purchase, the portfolio managers use a proprietary computer model to find stocks that appear to be undervalued based on traditional measures such as price-to-earnings, price-to-book value and price-to-cash flow ratios. The model also incorporates positive earnings and stock price momentum in order to assist the portfolio managers in the timing of buy decisions. The second step in the process involves fundamental research of companies in order to evaluate their business model, products and management. Particular attention is paid to identifying a catalyst for unleashing the value in a stock. A Value Fund may sell a stock when the model indicates it is no longer undervalued or its fundamental business prospects change. The following describes our Value Funds, which execute this strategy for the large-, medium- and small-company universes.

Westcore Blue Chip Fund invests in approximately 50 large, well-established companies whose stocks appear to be undervalued.** Large companies may benefit from attributes such as market dominance, substantial financial resources and the opportunity to be global leaders in their industries. These characteristics may result in increased stability for the company and a lower-risk investment for the Fund than smaller companies.

Westcore Mid-Cap Opportunity Fund invests primarily in medium-sized companies whose stocks appear to be undervalued. Medium-sized companies may benefit from factors such as new products and services and more entrepreneurial management than larger companies. These companies may also have better opportunities for growth than larger companies by increasing their shares of the markets they serve.

Under normal circumstances, at least 80% of the value of this Fund's total net assets is invested in mid-cap companies.* For purposes of this policy, the Fund currently considers mid-cap companies to be companies with market capitalizations of $500 million to $12 billion at the time of purchase. As of June 30, 2001, the median capitalization of the companies in which the Fund was invested was approximately $2.4 billion.

Westcore Small-Cap Opportunity Fund invests primarily in small companies with unrecognized potential whose stocks appear to be undervalued. Small companies may benefit from factors such as new products and services and more entrepreneurial management than larger companies. Small company stocks may have higher return/risk potential than larger company stocks.

Under normal circumstances, at least 80% of the value of this Fund's total net assets is invested in small-cap companies.* For purposes of this policy, the Fund currently considers small-cap companies to be companies with market capitalizations of $2 billion or less at the time of purchase. As of June 30, 2001, the median capitalization of the companies in which the Fund was invested was approximately $881 million.

What are the principal risks of investing in the Westcore Equity Funds?

As with any equity fund, the value of your investment will fluctuate over short, or even extended periods of time in response to overall movements in the stock market (market risk). In addition, each of the Equity Funds is subject to the additional risk that the particular types of stocks held by the Fund will underperform other stocks and may decline in value (management risk). Therefore, you could lose money by investing in the Equity Funds.

Westcore International Frontier and Westcore International Select Funds' exposure to foreign markets can regularly affect the net asset value (NAV) and total return of the Fund due to fluctuations in currency exchange rates or changing political or economic conditions in a particular country (foreign risk). Emerging market securities are particularly subject to foreign risks. Therefore, the value of these Funds may be more volatile than equity funds investing only in domestic companies.

These Funds may use a variety of currency hedging techniques to manage the exchange rate component of foreign risk. If utilized, the manager believes these techniques will benefit the Funds, however the Funds' performance could be worse if the manager's judgement proves incorrect.

Westcore Small-Cap Growth, Westcore International Frontier and Westcore Small-Cap Opportunity Funds are subject to the additional risk that the stocks of smaller and newer issuers can be more volatile due to lack of financial resources, product diversification and competitive strengths of larger companies (small company risk). Therefore, the value of these Funds may be more volatile.

Westcore Select and Westcore International Select Funds are non-diversified. This means they may from time to time invest in fewer companies than diversified funds. These companies may react similarly to certain negative market or industry conditions. Also the appreciation or depreciation of a single stock may have a greater impact on net asset value than if the Fund held a greater number of issues (non-diversification risk). Therefore, the value of these Funds may be more volatile than funds which hold a greater number of issuers.

The Westcore Equity Funds, but predominantly Westcore Growth and Income, Westcore Small-Cap Growth, Westcore Select, Westcore International Frontier and Westcore Mid-Cap Opportunity Funds have participated and may continue to participate in the initial public offering (IPO) market. A significant portion of the Funds' returns may be attributable to their investments in IPOs. If the Funds have a smaller asset base, IPOs may have a magnified impact. As the Funds' assets grow, it is probable that the effect of the Funds' investments in IPOs on its total returns will decline, which may reduce the Funds' total returns. In addition, IPO shares, in particular, are subject to market risk and may be difficult or impossible to sell at the time and price that the Fund would like (liquidity risk). The price of IPO shares can be volatile, due to factors including the absence of a prior public market, unseasoned trading, the small number of shares available for trading and limited investor information (IPO risk). The purchase of IPO shares may involve higher transaction costs.

An investment in these Funds is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency.

**Shareholders will receive notice 60 days prior to any change in this policy.
**The Fund will notify shareholders 60 days prior to any change in the Fund's investment policies that will result in the Fund investing, under normal circumstances, less than 80% of the value of its total net assets in companies that are large and well established at the time of purchase.

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