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GT GLOBAL EQUITY FUNDS: ADVISOR CLASS
SUPPLEMENT TO PROSPECTUS DATED MAY 1, 1997
SUPPLANTING SUPPLEMENT DATED MARCH 3, 1998
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THE FOLLOWING SUPPLEMENTS, AS APPLICABLE, THE DISCUSSION UNDER "INVESTMENT
OBJECTIVES AND POLICIES," "HOW TO INVEST," "MANAGEMENT," AND "OTHER INFORMATION"
WITH RESPECT TO G.T. GLOBAL GROWTH SERIES (THE "COMPANY"), GROWTH PORTFOLIO (THE
"PORTFOLIO") AND EACH FUND:
On January 30, 1998, Liechtenstein Global Trust, AG ("LGT"), the indirect parent
organization of GT Global, Inc. and Chancellor LGT Asset Management, Inc.
("Chancellor LGT"), entered into an agreement with AMVESCAP PLC ("AMVESCAP")
pursuant to which AMVESCAP will acquire LGT's Asset Management Division, which
includes Chancellor LGT (the "Purchase"). AMVESCAP is a holding company formed
in 1997 by the merger of INVESCO PLC and A I M Management Group Inc.
Consummation of the purchase is subject to a number of contingencies, including
regulatory approvals. The transaction would constitute an assignment of, and
thereby result in the termination of, the Company's investment management
agreement with Chancellor LGT. Accordingly, the Company's and Portfolio's Boards
of Trustees have approved, subject to shareholder approval, new investment
management and administration agreements between A I M Advisors, Inc. ("A I M"),
a wholly-owned subsidiary of AMVESCAP, and the Portfolio or Company, as
applicable, and sub-advisory and sub-administration agreements between A I M and
Chancellor LGT, which will become a separate, indirect wholly-owned subsidiary
of AMVESCAP. Under the new agreements, A I M would serve as investment manager
and administrator and Chancellor LGT would serve as investment sub-adviser and
sub-administrator of the Portfolio or Company, as applicable. In addition to
shareholder approval, implementation of the new investment advisory arrangements
is contingent upon the consummation of the Purchase.
The Board of Trustees of the Company has also approved the following matters,
subject to shareholder approval:
1. Amendments to the fundamental investment restrictions of each Fund.
2. The reorganization of the Company from a Massachusetts business trust into a
Delaware business trust.
In addition, the Board has approved new distribution agreements for the Funds
pursuant to which A I M Distributors, Inc. ("A I M Distributors"), a
wholly-owned subsidiary of A I M, would serve as each Fund's principal
underwriter.
Implementation of the new distribution arrangements is contingent upon (1)
shareholder approval of the new investment advisory arrangements; and (2) the
consummation of the Purchase.
A special meeting of shareholders of the Company will be held on May 20, 1998 to
consider and vote on, among other proposals, the matters noted above that
require shareholder approvals. If the matters are approved by shareholders and
the Purchase consummated, it is anticipated that the changes described above
will become effective on or about June 1, 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 Chancellor LGT since 1997. From 1995 to 1997,
Mr. Clum was a Senior Equity Research Analyst for Chancellor LGT. 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 Chancellor LGT and LGT Asset Management PLC (London) ("LGT Asset
Management"), an affiliate of Chancellor LGT, since 1996. Prior thereto, Mr.
Train was a Portfolio Manager for Chancellor LGT and LGT Asset Management from
1984 to 1996. Mr. Ford has been a Portfolio Manager for Chancellor LGT 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.
EQUSX803M March 25, 1998
