COLONIAL GLOBAL UTILITIES FUND
Supplement to Prospectus dated February 28, 1996 (Supplanting
Supplement dated April 17, 1996)
The third paragraph under the caption HOW THE FUND PURSUES ITS OBJECTIVE AND
CERTAIN RISK FACTORS has been revised in its entirety as follows:
Equity Securities Generally. Equity securities generally include common and
preferred stock, warrants (rights) to purchase such stock, debt securities
convertible into such stock and sponsored and unsponsored American Depository
Receipts (receipts issued in the U.S. by banks or trust companies evidencing
ownership of underlying foreign securities). At least 20% of the Portfolio's
total assets will be invested in equity securities of Utility Companies. Up to
35% of the Portfolio's total assets may be invested in equity securities of any
type and investment grade debt securities issued by companies that are not
Utility Companies.
On April 1, 1996, Robert A. Christensen, who served as co-manager of the
Portfolio, retired from his position as Senior Vice President of the Adviser and
Portfolio Manager of the Portfolio. As a result, the second paragraph under the
caption HOW THE FUND AND THE PORTFOLIO ARE MANAGED has been revised in its
entirety as follows:
Ophelia L. Barsketis, Senior Vice President and Senior International Analyst of
the Adviser, has co-managed the Portfolio since September 1993. Ms. Barsketis
joined the Adviser in 1983 and progressed through a variety of equity analyst
positions before assuming her current responsibilities. Deborah A. Lee, Vice
President and Senior Research Analyst for global and domestic equities and
global economic forecasting for the Adviser, has co-managed the Portfolio since
April 1996. After joining the Adviser in 1987, Ms. Lee served as an associate
economist until 1992 when she was named senior economist. In 1993, she became a
Vice President of the Adviser. Ms. Lee left the Adviser in January 1995 and
returned to her position as Vice President in March 1996. From June 5, 1995
through June 30, 1995, Ms. Lee was a Senior Equity Research Analyst for BancOne
Investment Advisers Corporation.
GU-36/341C-0696 July 15, 1996
