Government Portfolio
Money Market Portfolio

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Investment Risks

Government Portfolio: You could lose money by investing in the Portfolio. Although the Portfolio seeks to preserve the value of your investment at $1.00 per Participation Certificate, it cannot guarantee it will do so. An investment in the Portfolio is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Portfolio’s sponsor is not required to reimburse the Portfolio for losses, and you should not expect that the sponsor will provide financial support to the Portfolio at any time, including during periods of market stress.

Money Market Portfolio: You could lose money by investing in the Portfolio. Because the price per Participation Certificate of the Portfolio will fluctuate, when you sell your Participation Certificates they may be worth more or less than what you originally paid for them. The Portfolio may impose a fee upon the sale of your Participation Certificates. The Portfolio generally must impose a fee when net sales of Portfolio shares in a given business day exceed certain levels. An investment in the Portfolio is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The Portfolio’s sponsor is not required to reimburse the Portfolio for losses, and you should not expect that the sponsor will provide financial support to the Portfolio at any time, including during periods of market stress.

The Fund’s investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the Fund, and may be obtained by calling (800) 621-9215, or visiting the website at www.pif.com. Read the prospectus carefully before investing.

The Funds are distributed by Foreside Fund Services, LLC.

Not FDIC Insured ✦ No Bank Guarantee ✦ May Lose Value

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Government Portfolio
Money Market Portfolio