https://www.sec.gov/Archives/edgar/data/916053/000119312517291388/d416315d497.htm497 1 d416315d497.htm MASSMUTUAL SELECT FUNDS
MASSMUTUAL SELECT FUNDS
Supplement dated September 22, 2017 to the
Prospectus dated February 1, 2017
This supplement provides new and additional information beyond that contained in the Prospectus and any previous supplements. It should be retained and read in conjunction with the Prospectus and any previous supplements.
The following information pertains to the Large Cap Value Fund:
The Board of Trustees of the MassMutual Select Funds has approved the reorganization of the MassMutual Select Large Cap Value Fund (the “Fund”) into the MassMutual Select Diversified Value Fund. The reorganization is subject to approval by Massachusetts Mutual Life Insurance Company (“MassMutual”), in its capacity as the majority shareholder of the Fund. MassMutual anticipates approving the reorganization by written consent in January 2018. No assurance can be given that the reorganization will occur.
Under the terms of the proposed Agreement and Plan of Reorganization, the Fund’s assets and liabilities would be transferred to the MassMutual Select Diversified Value Fund in return for shares of the MassMutual Select Diversified Value Fund. Those shares would be distributed pro rata to shareholders of the Fund in exchange for their Fund shares. Shareholders of the Fund would thus become shareholders of the MassMutual Select Diversified Value Fund and would receive shares of the MassMutual Select Diversified Value Fund with a value equal to their shares of the Fund at the time of the reorganization. The reorganization is expected to be a tax-free event for federal income tax purposes.
The Fund seeks both capital growth and income as its investment objective, while the MassMutual Select Diversified Value Fund seeks as its objective to achieve long-term growth of capital and income by investing primarily in a diversified portfolio of equity securities of larger, well-established companies.
Descriptions of the MassMutual Select Diversified Value Fund and the terms of the reorganization will be contained in a combined prospectus/information statement, which is expected to be mailed to shareholders of the Fund in December 2017.
The foregoing is not an offer to sell, nor a solicitation of an offer to buy, shares of the MassMutual Select Diversified Value Fund, nor is it a solicitation of any proxy. For more information regarding the MassMutual Select Diversified Value Fund, or to receive a free copy of a prospectus/information statement relating to the reorganization (and containing important information about fees, expenses, and risk considerations) once a registration statement relating to the reorganization has been filed with the Securities and Exchange Commission and becomes effective, please call 1-888-309-3539. The prospectus/information statement will also be available for free on the Securities and Exchange Commission’s Web site (
http://www.sec.gov). Please read the prospectus/information statement carefully before making any investment decisions.
Effective immediately, the section entitled “Purchase and Sale of Fund Shares” found on page 36 is restated in its entirety as follows:
PURCHASE AND SALE OF FUND SHARES
Shares of the Fund are generally available to retirement plans, other institutional investors, and individual retirement accounts. Fund shares are redeemable on any business day by written request, telephone, or internet (available to certain customers).
The Board of Trustees of the MassMutual Select Funds has approved the reorganization of the Fund into the MassMutual Select Diversified Value Fund. The reorganization is subject to approval by Massachusetts Mutual Life Insurance Company, in its capacity as the majority shareholder of the Fund, by written consent expected to be executed in January 2018. No assurance can be given that the reorganization will occur...
