Amerindo Technology Fund
Supplement to Prospectus dated
February 1, 1999
As of January 31, 1999, the Fund sold certain securities and realized a
substantial short-term capital gain on the sale. This short-term gain is
material ($5.94 per share based upon the outstanding shares of the Fund as of
1/31/99). In accordance with applicable tax law requirements and the Fund's
regular procedures, the Fund anticipates distributing its net income for the
year, including any net short term capital gains, prior to the end of the fiscal
year, October 31, 1999. A distribution of short term capital gain (increased or
decreased by all other realized short term capital gains and losses incurred
during the course of the fiscal year) will be taxed to investors as ordinary
income for federal income tax purposes. Any investor who acquires shares before
the Fund pays this dividend will be required to include that dividend in
ordinary income even though the dividend represents, in effect, a return of
capital. Although there is no certainty that the Fund will pay a dividend or at
what level the dividend will be paid, potential investors should be aware that
this short term gain (if not reduced by other capital transactions during the
course of the fiscal year) may have material tax consequences to them and should
consult their tax advisers before investing in the Fund.
