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GT GLOBAL EQUITY FUNDS
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1997
SUPPLANTING SUPPLEMENT DATED JANUARY 20, 1998
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THE FOLLOWING REVISES AND SUPERSEDES THE DISCUSSION UNDER "HOW TO INVEST --
PURCHASING CLASS A SHARES -- SALES CHARGE WAIVERS -- CLASS A SHARES" WITH
RESPECT TO EACH FUND:
As of August 1, 1997, the Class A share sales charge waiver described under
section (xiii) is no longer available.
WITH RESPECT TO EACH FUND, SALES CHARGE WAIVERS (VII) AND (XI) DESCRIBED UNDER
"HOW TO INVEST -- PURCHASING CLASS A SHARES -- SALES CHARGE WAIVERS -- CLASS A
SHARES" ARE SUPERSEDED BY THE FOLLOWING WAIVERS:
(vii) Registered investment advisers, trust companies and bank trust departments
exercising DISCRETIONARY investment authority with respect to the money to be
invested in the GT Global Mutual Funds provided that the aggregate amount
invested pursuant to this sales charge waiver is at least $500,000.
(xi) Accounts for which a financial institution or broker/dealer charges an
account management fee, provided the financial institution or broker/dealer has
entered into an agreement with GT Global regarding such accounts.
THE FOLLOWING SUPPLEMENTS THE DISCUSSION UNDER "HOW TO INVEST -- PURCHASING
CLASS B SHARES" WITH RESPECT TO EACH FUND:
Upon redemption, Class B shares of a Fund that were acquired pursuant to the
exchange privilege during a tender offer by GT Global Floating Rate Fund
("Floating Rate Fund") will be subject to a contingent deferred sales charge
equivalent to the early withdrawal charge on the common stock of the Floating
Rate Fund, as set forth in the current prospectus for the Floating Rate Fund.
The purchase of shares of a Fund will be deemed to have occurred at the time of
the initial purchase of the Floating Rate Fund's common stock.
THE FOLLOWING SUPPLEMENTS THE DISCUSSION UNDER "MANAGEMENT" WITH RESPECT TO G.T.
GLOBAL GROWTH SERIES (THE "COMPANY") AND GROWTH PORTFOLIO (THE "PORTFOLIO"):
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 investment management agreements under the
Investment Company Act of 1940 (and, therefore, a termination of such
agreements), it is anticipated that the approval of the Company's and
Portfolio's Boards of Trustees and the Company's shareholders of new investment
management arrangements will be sought. The Manager anticipates that the new
investment management arrangements will be presented for shareholder approval,
and anticipates that the transaction will close, on or about May 31, 1998.
THE FOLLOWING REVISES AND SUPERSEDES, AS APPLICABLE, THE DISCUSSION UNDER
"MANAGEMENT" WITH RESPECT TO GT GLOBAL AMERICA MID CAP GROWTH FUND ("AMERICA MID
CAP FUND") AND GT GLOBAL EUROPE GROWTH FUND ("EUROPE GROWTH FUND"):
Brent W. Clum is the Portfolio Manager for the America Mid Cap Fund. Mr. Clum
has been a Portfolio Manager for the Manager since 1997. From 1995 to 1997, Mr.
Clum was a Senior Equity Research Analyst for the Manager. Prior thereto, Mr.
Clum was a Vice President and Analyst at T. Rowe Price from 1990 to 1995. Mr.
Clum is a Chartered Financial Analyst and a Certified Public Accountant.
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Nicholas S. Train and Nicholas J. Ford are the Portfolio Managers for the Europe
Growth Fund. Mr. Train has been Head of investment for the United Kingdom and
Europe for the Manager and LGT Asset Management PLC (London) ("LGT Asset
Management"), an affiliate of the Manager, since 1996. Prior thereto, Mr. Train
was a Portfolio Manager for the Manager and LGT Asset Management from 1984 to
1996. Mr. Ford has been a Portfolio Manager for the Manager since February 1998,
and a Portfolio Manager for LGT Asset Management since 1996. From 1994 to 1996,
Mr. Ford was a Director of Equities for Lehman Brothers Global Asset Management
PLC (London). Prior thereto, he was a Portfolio Manager and Head of European
Equities for Hill Samuel Investment Management PLC (London) from 1990 to 1994.
On October 31, 1996, Chancellor Capital Management, Inc. ("Chancellor Capital")
merged with LGT Asset Management, Inc. (San Francisco), and the resulting entity
was renamed Chancellor LGT Asset Management, Inc. Prior to October 31, 1996, Mr.
Clum was an employee only of Chancellor Capital.
EQUST802M March 3, 1998
