The following information supplements the information contained under the sections “Investment
Adviser” and “Fund Manager” of the Prospectus:
On Wednesday,
October 17, 2007, the Board of Managers of PARADIGM Multi Strategy Fund I, LLC
(the
“Portfolio”) and the Board of Trustees of PARADIGM Funds Trust (the
“Trust” and, collectively
with the Portfolio, the
“Funds”) was informed that Provident Group Asset Management, the investment
manager to the Funds, terminated the investment management agreements with the Funds. Paradigm
Global Advisers, LLC (
“PGA”), the current sub-adviser to the Funds, is continuing to serve in that
capacity. The Boards of the Funds are considering various options concerning the appointment of an
interim investment advisor, as well as the future of the Funds, and will be reporting on its
recommendations in the next few weeks.
