Metropolitan West Funds
March 7, 2000
(supplement to prospectus dated July 27, 1999)
To shareholders of the Total Return Bond Fund and
Low Duration Bond Fund only:
Shown below is the revised fee and expense table for these Funds (found
on pages 5 and 8 of the prospectus). We have reallocated the fees among
the expense categories already listed (including the Rule 12b-1 plan that
has been in place since the Funds' inception). Please be assured that
these changes in no way increase or otherwise change the total costs or
expenses to shareholders. They simply reflect a technical reallocation
of expenses, including a reduction of the management fee paid to the Adviser,
Metropolitan West Asset Management, LLC. This reallocation was made in
order for the Adviser to offer an even more competitive advisory fee and
will be effective on March 31, 2000.
Investors should retain this supplement with the prospectus for future
reference.
Thank you for your continued investment in the funds. Please call David Sway
at (310) 966-8900 with any questions.
Sincerely,
METROPOLITAN WEST FUNDS
Fees and Expenses
As an investor in the Funds, you will pay the following expenses.
The Funds have no sales, redemption, exchange or account fees, although
some institutions may charge you a fee for shares you buy through them.
Annual Fund operating expenses are paid out of Fund assets, and are
reflected in the share price.
Annual Fund Operating Expenses
(Fees Paid from Fund Assets)
Total Return Low Duration
Bond Fund Bond Fund
Management fees 0.35% 0.30%
Rule 12b-1 expenses 0.21% 0.19%
Other expenses 0.42% 0.22%
Total annual Fund operating expenses 0.98% 0.71%
Fee reduction and/or expense reimbursement(1) 0.33% 0.13%
Net expenses 0.65% 0.58%
(1) The Adviser has contractually agreed to reduce its fees and/or absorb
expenses to limit the Fund's total annual operating expenses (excluding
interest, taxes and extraordinary expenses) to the net amount shown. This
contract has a one-year term, renewable at the end of each fiscal year.
SF/118057.1
