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GT GLOBAL NEW DIMENSION FUND
SUPPLEMENT TO THE PROSPECTUS DATED JANUARY 1, 1998
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THE FOLLOWING SUPPLEMENTS THE DISCLOSURE FOR GT GLOBAL NEW DIMENSION FUND (THE
"FUND") AND IS TO BE INSERTED FOLLOWING THE SECTION ENTITLED "PROSPECTUS
SUMMARY:"
FINANCIAL HIGHLIGHTS
The table below provides condensed financial information concerning income and
capital changes for one Class A and Class B share of the Fund for the period
shown. This information is supplemented by the financial statements and
accompanying notes appearing in the Statement of Additional Information. The
financial statements and notes, for the period September 15, 1997 (commencement
of operations) to December 31, 1997, have been audited by Coopers & Lybrand
L.L.P., independent accountants, whose report thereon also is included in the
Statement of Additional Information. Information is not provided with respect to
Class C shares because the Fund only began offering Class C shares on January 1,
1998.
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SEPTEMBER 15, 1997
(COMMENCEMENT OF OPERATIONS)
TO DECEMBER 31, 1997
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CLASS A (d) CLASS B (d)
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<S> <C> <C>
Per Share Operating Performance:
Net asset value, beginning of period.... $ 11.43 $ 11.43
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Income from investment operations:
Net investment income (loss).......... (0.01) (0.02)
Net realized and unrealized loss on
investments.......................... (0.31) (0.32)
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Net decrease from investment
operations......................... (0.32) (0.34)
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Distributions to shareholders:
In excess of net investment income.... (0.48) (0.47)
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Total distributions................. (0.48) (0.47)
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Net asset value, end of period.......... $ 10.63 $ 10.62
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Total investment return (c)............. (2.68)%(b) (2.83)%(b)
Ratios and supplemental data:
Net assets, end of period (in 000's).... $ 15,145 $ 19,184
Ratio of net investment income (loss) to
average net assets...................... (0.35)%(a) (0.85)%(a)
Ratio of expenses to average net
assets.................................. 0.50%(a) 1.00%(a)
Portfolio turnover rate+................ 1%(b) 1%(b)
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(a) Annualized
(b) Not annualized
(c) Total investment return does not include sales charges.
(d) These selected per share data were calculated based upon average shares
outstanding during the period.
+ Portfolio turnover is calculated on the basis of the Fund as a whole without
distinguishing between the classes of shares issued.
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THE FOLLOWING SUPPLEMENTS THE DISCUSSION UNDER "MANAGEMENT" WITH RESPECT TO GT
GLOBAL SERIES TRUST (THE "COMPANY"):
On January 30, 1998, Liechtenstein Global Trust ("LGT"), the indirect parent
organization of Chancellor LGT Asset Management, Inc. (the "Manager"), entered
into an agreement with AMVESCAP PLC ("AMVESCAP") pursuant to which AMVESCAP will
acquire LGT's Asset Management Division, which includes the Manager. AMVESCAP is
a holding company formed in 1997 by the merger of INVESCO PLC and A I M
Management Group Inc. Consummation of the transaction is subject to a number of
contingencies, including regulatory approvals. Because the transaction would
constitute an assignment of the Company's management agreement under the
Investment Company Act of 1940 (and, therefore, a termination of such
agreement), it is anticipated that the approval of the Company's Board of
Trustees and the Company's shareholders of a new management arrangement will be
sought. The Manager anticipates that the new management arrangement will be
presented for shareholder approval, and anticipates that the transaction will
close, on or about May 31, 1998.
DIMST803M March 3, 1998
