RCM EQUITY FUNDS INC
497, 2000-09-29
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                            DRESDNER RCM GLOBAL FUNDS
                       SUPPLEMENT DATED SEPTEMBER 29, 2000
                       TO THE PROSPECTUS DATED MAY 1, 2000

PROPOSED REORGANIZATIONS. The Board of Directors of Dresdner RCM Capital Funds,
Inc. (the "Capital Company"), on behalf of its series, the Dresdner RCM MidCap
Fund, Dresdner RCM Small Cap Fund and Dresdner RCM International Growth Equity
Fund and the Board of Directors of Dresdner RCM Investment Funds Inc., on behalf
of its series, the Dresdner RCM Europe Fund (the "Investment Company" and, with
the Capital Company, the "Companies") have unanimously approved an Agreement and
Plan of Reorganization (the "Agreement") between the Companies, on behalf of
their respective series, and Dresdner RCM Global Funds, Inc. (the "Global
Company").

The Agreement provides for the transfer of all of the assets and the assumption
of all of the liabilities of each series of the Capital Company and the
Investment Company to a corresponding, newly created series of the Global
Company in a tax-free exchange for shares of the relevant series of the Global
Company. Following such exchange, each series of the Capital Company and the
Investment Company will distribute the corresponding, newly created series of
the Global Company shares to its stockholders pro rata, in liquidation of the
series of the Capital Company and the Investment Company, respectively (the
"Reorganization").

A special meeting (the "Meeting") of the stockholders of the Capital Company and
the Investment Company will be held on or about December 18, 2000 to consider
the Reorganization. In connection with the Meeting, the Global Company will be
filing with the Securities and Exchange Commission a Proxy Statement describing
the Reorganization and a Prospectus for the newly created series of the Global
Company. If the Agreement is approved at the Meeting and certain conditions
required by the Agreement are satisfied, the Reorganization is expected to
become effective on or about December 31, 2000.

THE FOLLOWING INFORMATION FOR THE LARGE CAP GROWTH FUND REPLACES THE SIMILAR
INFORMATION FOUND UNDER THE SECTION ENTITLED "FEES AND EXPENSES" AT PAGE 3 OF
THE PROSPECTUS.

ANNUAL FUND OPERATING EXPENSES
(fees paid from Fund assets)

<TABLE>
<CAPTION>

                                       Class I                Class N
                                       -------                -------
<S>                                   <C>                    <C>
Management Fees                         0.70%                   0.70%

Rule 12b-1 fee                          none                    0.25%

Other Expenses                          1.75%                  59.09%

Total annual fund
Operating expenses                      2.45%                  60.04%

Less:  Fees waived and
reimbursed                             -1.70%                 -59.04%

Net operating expenses(1)               0.75%                   1.00%
</TABLE>

(1)  The Investment Manager has contractually agreed until at least December 31,
     2005, to pay each quarter the amount, if any, by which the ordinary
     operating expenses for the quarter (except interest, taxes and
     extraordinary expenses) exceed the annualized rate of 0.75% for Class I and
     1.00% for Class N. The Fund may reimburse the Investment Manager in the
     future.

<TABLE>
<CAPTION>

                    One              Three           Five            Ten
                    Year             Years           Years           Years
<S>                 <C>              <C>             <C>             <C>
Class I*            $77              $240            $417            $2,024
Class N*            $102             $318            $552            $9,995
</TABLE>

*Assuming the Investment Manager continues to reimburse the ordinary operating
expenses which exceed the annualized rate of 0.75% for Class I and 1.00% for
Class N, your expenses for the periods indicated would be $77, $240, $417 and
$930 for

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Class I and $102, $318, $552 and $1,225 for Class N. However, there is
no assurance that the Investment Manager will continue such reimbursement
policy.

THE FOLLOWING INFORMATION REPLACES THE SIMILAR INFORMATION FOUND UNDER THE
SUBHEADING "GLOBAL HEALTH CARE FUND AND BIOTECHNOLOGY FUND" AT PAGES 32 AND 33
OF THE PROSPECTUS.

Faraz Naqvi, M.D. and Michael Dauchot, M.D. are primarily responsible for the
day to day management of the Global Health Care Fund. Dr. Naqvi and Camilo
Martinez, M.D., Ph.D., are primarily responsible for the day to day management
of the Biotechnology Fund. Dr. Martinez is a research analyst of the Investment
Manager, with which he has been associated since 1999. Prior to joining the
Investment Manager, he practiced Internal Medicine at Northeast Valley Health in
1999 and at Century Group Medicine in 1998, both in southern California. From
1995-1998 Dr. Martinez was a resident at the University of California at Los
Angeles Department of Medicine. He is also a Board Certified physician in
Internal Medicine.

THE FOLLOWING INFORMATION REPLACES THE SIMILAR INFORMATION FOUND UNDER THE
SUBHEADING "INTERNATIONAL GROWTH EQUITY FUND AND EMERGING MARKETS FUND" AT PAGES
33 AND 34 OF THE PROSPECTUS.

The International Equity Team at Dresdner RCM is primarily responsible for the
day to day management of the International Fund. This team manages the
International Fund on a team basis, and no individual is separately responsible
for the management of the International Fund. Ana Wiechers-Marshall and Luis
Laboy, CFA are primarily responsible for the day-to-day management of the
Emerging Markets Fund. Mr. Laboy is a Manager of the Investment Manager, with
which he has been associated since 1997. From 1995 to 1997, he worked at
Dresdner Bank Mexico where he served as assistant equity research analyst.




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