COLONIAL STRATEGIC BALANCED FUND
Supplement to the February 27, 1998 Prospectus
(Replacing Supplement dated March 30, 1998)
The Fund's Prospectus is amended as follows:
(1) A new paragraph is added to the front cover of the Prospectus below the
Table of Contents as follows:
This Prospectus is also available on-line at the Web site
http://www.libertyfunds.com. The Securities and Exchange Commission (SEC)
maintains a Web site (http://www.sec.gov) that contains the Statement of
Additional Information, materials that are incorporated by reference into
this Prospectus and the Statement of Additional Information, and other
information regarding the Fund.
(2) The paragraph Other Investment Companies under the caption HOW THE FUND
PURSUES ITS OBJECTIVE AND CERTAIN RISK FACTORS is deleted in its entirety.
(3) The paragraph Borrowing of Money under the caption HOW THE FUND PURSUES
ITS OBJECTIVE AND CERTAIN RISK FACTORS is revised in its entirety as
follows:
Borrowing of Money. The Fund may borrow money from banks, other affiliated
funds and other entities to the extent permitted by law for temporary or
emergency purposes up to 33 1/3% of its total assets.
(4) A new caption is added after the HOW THE FUND IS MANAGED entitled
YEAR 2000 as follows:
The Fund's Advisor, Distributor and Transfer Agent (Liberty Companies) are
actively managing Year 2000 readiness for the Fund. The Liberty Companies
are taking steps that they believe are reasonably designed to address the
Year 2000 problem and are communicating with vendors who provide services,
software and systems to the Fund to provide that date-related information
and data can be properly processed and calculated on and after January 1,
2000. Many Fund service providers and vendors, including the Liberty
Companies, are in the process of making Year 2000 modifications to their
software and systems and believe that such modifications will be completed
on a timely basis prior to January 1, 2000. The Fund will not pay the cost
of these modifications. However, no assurances can be given that all
modifications required to ensure proper data processing and calculation on
and after January 1, 2000 will be timely made or that services to the Fund
will not be adversely affected.
(5) Gita Rao, a Vice President of the Advisor, co-manages the Fund. Ms. Rao has
managed various other Colonial funds since 1995. Prior to joining the
Advisor, she was a global equity research analyst at Fidelity Management &
Research Company from 1994 to 1995 and a Vice President in the domestic
equity research group at Kidder, Peabody and Company from 1991 to 1994.
James P. Haynie no longer co-manages the Fund.
(6) Liberty Financial Investments, Inc., the Fund's distributor, has changed
its name to Liberty Funds Distributor, Inc. (Distributor). The new name
does not affect the investment management of, or services to, the Fund. The
Distributor continues to offer selected investment products managed by
subsidiaries of Liberty Financial Companies, Inc. (NYSE:L), the indirect
parent of the Distributor.
(7) Colonial Investors Service Center, Inc. (Transfer Agent), the Fund's
transfer agent, has changed its name to Liberty Funds Services, Inc. The
new name does not affect the services that the Transfer Agent provides to
the Fund.
(8) The last sentence under the caption HOW THE FUND VALUES ITS SHARES is
changed in its entirety as follows:
In addition, if the values of foreign securities have been materially
affected by events occurring after the closing of a foreign market, the
foreign securities may be valued at their fair value.
(9) The Distributor pays an additional 1% commission (total commission of 5%)
to financial service firms on sales of Class B shares of the Fund to its
clients or customers. The commission is paid directly by the Distributor
from its assets and does not effect the expenses paid by Fund shareholders.
Financial service firms may waive receipt of all or any portion of these
payments.
(10) The last sentence under the caption HOW TO SELL SHARES is revised in its
entirety as follows:
To avoid delay in payment, investors are advised to purchase shares
unconditionally, such as by federal fund wire or other immediately
available funds.
<PAGE>
(11) The following sentence is added to the paragraph Class A Shares under the
caption HOW TO EXCHANGE SHARES:
Exchanges of Class A shares are not subject to a contingent deferred sales
charge. However, in determining whether a contingent deferred sales charge
is applicable to redemptions, the schedule of the fund into which the
original investment was made should be used.
(12) Under the caption TELEPHONE TRANSACTIONS the first sentence in the first
paragraph is revised in its entirety and a new second and third sentence are
added as follows:
All shareholders and/or their financial advisors are automatically eligible
to exchange Fund shares and to redeem up to $100,000 of Fund shares by
calling 1-800-422-3737 toll-free any business day between 9:00 a.m. Eastern
time and the time at which the Fund values it shares. Telephone redemptions
are limited to a total of $100,000 in a 30-day period. Redemptions that
exceed $100,000 may be done by placing a wire order trade through a broker
or furnishing a signature guaranteed request.
(13) Price Waterhouse LLP, the Fund's independent accountants, changed its name
to PricewaterhouseCoopers LLP. The new name will not affect the services
provided by PricewaterhouseCoopers LLP to the Fund.
SB-36/226G-1198 October 30, 1998
<PAGE>
COLONIAL STRATEGIC BALANCED FUND
Supplement to the February 27, 1998 Statement of Additional Information
(Replacing Supplement dated June 22, 1998)
Colonial Strategic Balanced Fund's (Fund) Statement of Additional Information
(SAI) is amended as follows:
(1) A Special Meeting of Shareholders of the Fund was held on October 30, 1998,
the Fund's shareholders approved a number of proposals. As a result of
these approvals, the Fund's SAI is amended as follows:
(a) The first and fifth fundamental investment policies under the caption
FUNDAMENTAL INVESTMENT POLICIES are revised in their entirety as follows:
The Fund may:
1. The Fund may borrow from banks, other affiliated funds and other
entities to the extent permitted by applicable law, provided that the
Fund's borrowings shall not exceed 33 1/3% of the value of its assets
(including the amount borrowed) less liabilities (other than borrowings)
or such other percentage permitted by law.
5. The Fund may make loans (a) through lending of securities, (b) through
the purchase of debt instruments or similar evidences of indebtedness
typically sold privately to financial institutions, (c) through an
interfund lending program with other affiliated funds provided that no
such loan may be made if, as a result, the aggregate of such loans would
exceed 33 1/3% of the value of its total assets (taken at market value
at the time of such loans) and (d) through repurchase agreements.
(b) The following policy is added after the non-fundamental policies:
Notwithstanding the investment policies of the Fund, the Fund may invest
substantially all of its investable assets in another investment company
that has substantially the same investment objective, policies and
restrictions as the Fund.
(c) John Carberry, Salvatore Macera, Thomas E. Stizel and Anne-Lee Verville
were elected as new trustees. As a result, the following information is
added to the section MANAGEMENT OF THE FUNDS:
John Carberry(1), Age 51, is Senior Vice President of Liberty Financial
Companies, Inc. (formerly Managing Director, Salomon Brothers (investment
banking) from January 1988 to January 1998).
Salvatore Macera, Age 67, is a Private Investor (formerly Executive Vice
President of Itek Corp. and President of Itek Optical & Electronic
Industries, Inc. (electronics)). Trustee: Liberty Variable Investment
Trust, Stein Roe Variable Investment Trust.
Thomas E. Stitzel, Age 58, is Professor of Finance, College of Business,
Boise State University (higher education); Business consultant and author.
Trustee: Liberty Variable Investment Trust, Stein Roe Variable Investment
Trust.
Anne-Lee Verville, Age 51, is a Consultant (formerly General Manager,
Global Education Industry from 1994 to 1997, and President, Applications
Solutions Division from 1991 to 1994, IBM Corporation (global education and
global applications)).
The following table sets forth the compensation paid to Mr. Macera and Mr.
Stitzel in their capacities as Trustees of Liberty Variable Investment Trust
(LVIT), which offers nine funds: Colonial Growth and Income Fund, Variable
Series; Stein Roe Global Utilities Fund, Variable Series; Colonial International
Fund for Growth, Variable Series; Colonial U.S. Stock Fund, Variable Series;
Colonial Strategic Income Fund, Variable Series; Newport Tiger Fund, Variable
Series; Liberty All-Star Equity Fund, Variable Series; Colonial Small Cap Value
Fund, Variable Series; and Colonial High Yield Securities Fund, Variable Series,
for serving during the fiscal year ended December 31, 1997:
Total Compensation From the LVIT
and Investment Companies which
Trustee Aggregate 1997 Compensation(2) are Series of LVIT in 1997(3)
- ------- --------------------------- ---------------
Salvatore Macera $12,500 $33,500
Thomas E. Stitzel 12,500 33,500
(2) Stephen E. Gibson is President of the Funds. He replaces Harold W. Cogger.
He is 45 years old and has been President of the Funds since June, 1998,
Chairman of the Board since July, 1998, Chief Executive Officer and
President since December, 1996, and; Director, since July, 1996 of the
Advisor (formerly Executive Vice President from July, 1996 to December,
1996); Director, Chief Executive Officer and President of TCG since
December, 1996 (formerly Managing Director of Marketing of Putnam
Investments, June, 1992 to July, 1996).
(3) Nancy L. Conlin is Secretary of the Funds. She replaces Michael H. Koonce.
She is 44 years old and has been Secretary of the Funds since April, 1998
(formerly Assistant Secretary from July, 1994 to April, 1998), is Director,
Senior Vice President, General Counsel, Clerk and Secretary of the Advisor
since April, 1998 (formerly Vice President, Counsel, Assistant to Secretary
and Assistant Clerk from July, 1994 to April, 1998), Vice President -
Legal, General Counsel and Clerk of TCG since April, 1998 (formerly
Assistant Clerk from July, 1994 to April, 1998).
(4) The following paragraph is added to the MANAGEMENT OF THE FUNDS section:
The Trustees have the authority to convert the Funds into a master
fund/feeder fund structure. Under this structure, a Fund may invest all
or a portion of its investable assets in investment companies with
substantially the same investment objectives, policies and restrictions
as the Fund. The primary reason to use the master fund/feeder fund
structure is to provide a mechanism to pool, in a single master fund,
investments of different investor classes, resulting in a larger
portfolio, investment and administrative efficiencies and economies of
scale.
(5) Liberty Financial Investments, Inc., the Fund's distributor, has changed
its name to Liberty Funds Distributor, Inc. (Distributor). The new name
does not affect the investment management of, or services to, the Fund. The
Distributor continues to offer selected investment products managed by
subsidiaries of Liberty Financial Companies, Inc. (NYSE:L), the indirect
parent of the Distributor.
(6) Colonial Investors Service Center, Inc. (Transfer Agent), the Fund's
transfer agent, has changed its name to Liberty Funds Services, Inc. The
new name will not affect services that the Transfer Agent provides to the
Fund.
(7) Price Waterhouse LLP, the Fund's independent accountants, changed its name
to PricewaterhouseCoopers LLP. The new name will not affect services
provided by PricewaterhouseCoopers LLP to the Fund.
(8) William D. Ireland, Jr., George L. Shinn an Sinclair Weeks, Jr. retired
as Trustees of the Trust effective April 24, 1998.
(9) The following is added as the last paragraphs under the caption PERFORMANCE
MEASURES:
General. From time to time, the Fund may discuss, or quote its current
portfolio manager as well as other investment personnel, including such
persons' views on: the economy; securities markets; portfolio securities
and their issuers; investment philosophies, strategies, techniques and
criteria used in the selection of securities to be purchased or sold for
the Fund, including the New ValueTM investment strategy that expands upon
the principles of traditional value investing; the Fund's portfolio
holdings; the investment research and analysis process; the formulation
and evaluation of investment recommendations; and the assessment and
evaluation of credit, interest rate, market and economic risks and
similar or related matters.
The Fund may also quote evaluations mentioned in independent radio or
television broadcasts, and use charts and graphs to illustrate the past
performance of various indices such as those mentioned in Appendix II and
illustrations using hypothetical rates of return to illustrate the
effects of compounding and tax-deferral. The Fund may advertise examples
of the effects of periodic investment plans, including the principle of
dollar cost averaging. In such a program, an investor invests a fixed
dollar amount in a fund at periodic intervals, thereby purchasing fewer
shares when prices are high and more shares when prices are low.
From time to time, the Fund may also discuss or quote the views of its
distributor, its investment advisor and other financial planning, legal,
tax, accounting, insurance, estate planning and other professionals, or
from surveys, regarding individual and family financial planning. Such
views may include information regarding: retirement planning; general
investment techniques (e.g., asset allocation and disciplined saving and
investing); business succession; issues with respect to insurance (e.g.,
disability and life insurance and Medicare supplemental insurance);
issues regarding financial and health care management for elderly family
members; and similar or related matters.
SB-39/250G-1198 October 30, 1998
- --------
1 Mr. Carberry is an "interested person," as defined in the Investment
Company Act of 1940 (1940 Act), because of his affiliation with Liberty
Financial Companies, Inc., an indirect majority-owned subsidiary of Liberty
Mutual Insurance Company.
2 Consists of Trustee fees in the amount of (i) a $5,000 annual retainer,
(ii) a $1,500 meeting fee for each meeting attended in person and (iii) a $500
meeting fee for each telephone meeting.
3 Includes Trustee fees paid by LVIT and by Stein Roe Variable Investment Trust.
<PAGE>
COLONIAL GLOBAL UTILITIES FUND
Supplement to the February 27, 1998 Prospectus
(Replacing Supplement dated March 30, 1998)
The Fund's Prospectus is amended as follows:
(1) A new paragraph is added to the front cover of the Prospectus below the
Table of Contents as follows:
This Prospectus is also available on-line at the Web site
http://www.libertyfunds.com. The Securities and Exchange Commission (SEC)
maintains a Web site (http://www.sec.gov) that contains the Statement of
Additional Information, materials that are incorporated by reference into
this Prospectus and the Statement of Additional Information, and other
information regarding the Fund.
(2) Under the paragraph Securities Loans under the caption HOW THE FUND PURSUES
ITS OBJECTIVE AND CERTAIN RISK FACTORS the second sentence is changed in
its entirety as follows:
Such loans will be limited to securities not exceeding 33 1/3% in value of
the Portfolio's total assets.
(3) The paragraph Borrowing of Money under the caption HOW THE FUND PURSUES ITS
OBJECTIVE AND CERTAIN RISK FACTORS is revised in its entirety as follows:
Borrowing of Money. The Fund may borrow money from banks, other affiliated
funds and other entities to the extent permitted by law for temporary or
emergency purposes up to 33 1/3% of its total assets.
(4) A new caption is added after the HOW THE FUND IS MANAGED entitled
YEAR 2000 as follows:
The Fund's Advisor, Distributor and Transfer Agent (Liberty Companies) are
actively managing Year 2000 readiness for the Fund. The Liberty Companies
are taking steps that they believe are reasonably designed to address the
Year 2000 problem and are communicating with vendors who provide services,
software and systems to the Fund to provide that date-related information
and data can be properly processed and calculated on and after January 1,
2000. Many Fund service providers and vendors, including the Liberty
Companies, are in the process of making Year 2000 modifications to their
software and systems and believe that such modifications will be completed
on a timely basis prior to January 1, 2000. The Fund will not pay the cost
of these modifications. However, no assurances can be given that all
modifications required to ensure proper data processing and calculation on
and after January 1, 2000 will be timely made or that services to the Fund
will not be adversely affected.
(5) Liberty Financial Investments, Inc., the Fund's distributor, has changed
its name to Liberty Funds Distributor, Inc. (Distributor). The new name
does not affect the investment management of, or services to, the Fund. The
Distributor continues to offer selected investment products managed by
subsidiaries of Liberty Financial Companies, Inc. (NYSE:L), the indirect
parent of the Distributor.
(6) Colonial Investors Service Center, Inc. (Transfer Agent), the Fund's
transfer agent, has changed its name to Liberty Funds Services, Inc. The
new name does not affect the services that the Transfer Agent provides to
the Fund.
(7) The last sentence under the caption HOW THE FUND VALUES ITS SHARES is
changed in its entirety as follows:
In addition, if the values of foreign securities have been materially
affected by events occurring after the closing of a foreign market, the
foreign securities may be valued at their fair value.
(8) The Distributor pays an additional 1% commission (total commission of 5%)
to financial service firms on sales of Class B shares of the Fund to its
clients or customers. The commission is paid directly by the Distributor
from its assets and does not effect the expenses paid by Fund shareholders.
Financial service firms may waive receipt of all or any portion of these
payments.
(9) The last sentence under the caption HOW TO SELL SHARES is revised in its
entirety as follows:
To avoid delay in payment, investors are advised to purchase shares
unconditionally, such as by federal fund wire or other immediately
available funds.
(10) The following sentences are added to the paragraph Class A Shares under the
caption HOW TO EXCHANGE SHARES:
Exchanges of Class A shares are not subject to a contingent deferred sales
charge. However, in determining whether a contingent deferred sales charge
is applicable to redemptions, the schedule of the fund into which the
original investment was made should be used.
(11) Under the caption TELEPHONE TRANSACTIONS the first sentence in the first
paragraph is revised in its entirety and a new second and third sentence
are added as follows:
All shareholders and/or their financial advisors are automatically eligible
to exchange Fund shares and to redeem up to $100,000 of Fund shares by
calling 1-800-422-3737 toll-free any business day between 9:00 a.m. Eastern
time and the time at which the Fund values it shares. Telephone redemptions
are limited to a total of $100,000 in a 30-day period. Redemptions that
exceed $100,000 may be done by placing a wire order trade through a broker
or furnishing a signature guaranteed request.
(12) Price Waterhouse LLP, the Fund's independent accountants, changed its name
to PricewaterhouseCoopers LLP. The new name will not affect the services
provided by PricewaterhouseCoopers LLP to the Fund.
GU-36/223G-1198 October 30, 1998
<PAGE>
COLONIAL GLOBAL UTILITIES FUND
Supplement to February 27, 1998 Statement of Additional Information
(Replacing Supplement dated June 22, 1998)
Colonial Global Utilities Fund's (Fund) Statement of Additional Information
(SAI) is amended as follows:
(1) A Special Meeting of Shareholders of the Fund was held on October 30, 1998,
the Fund's shareholders approved a number of proposals. As a result of
these approvals, the Fund's SAI is amended as follows:
(a) The first and fourth fundamental investment policies under the caption
FUNDAMENTAL INVESTMENT POLICIES are revised in their entirety as follows:
The Fund may:
1. The Fund may borrow from banks, other affiliated funds and other
entities to the extent permitted by applicable law, provided that the
Fund's borrowings shall not exceed 33 1/3% of the value of its assets
(including the amount borrowed) less liabilities (other than borrowings)
or such other percentage permitted by law.
4. The Fund may make loans (a) through lending of securities, (b) through
the purchase of debt instruments or similar evidences of indebtedness
typically sold privately to financial institutions, (c) through an
interfund lending program with other affiliated funds provided that no
such loan may be made if, as a result, the aggregate of such loans
would exceed 33 1/3% of the value of its total assets (taken at market
value at the time of such loans) and (d) through repurchase agreements.
(b) John Carberry, Salvatore Macera, Thomas E. Stizel and Anne-Lee Verville
were elected as new trustees. As a result, the following information is
added to the section MANAGEMENT OF THE FUNDS:
John Carberry(1), Age 51, is Senior Vice President of Liberty Financial
Companies, Inc. (formerly Managing Director, Salomon Brothers (investment
banking) from January 1988 to January 1998).
Salvatore Macera, Age 67, is a Private Investor (formerly Executive Vice
President of Itek Corp. and President of Itek Optical & Electronic Industries,
Inc. (electronics)). Trustee: Liberty Variable Investment Trust, Stein Roe
Variable Investment Trust.
Thomas E. Stitzel, Age 58, is Professor of Finance, College of Business, Boise
State University (higher education); Business consultant and author. Trustee:
Liberty Variable Investment Trust, Stein Roe Variable Investment Trust.
Anne-Lee Verville, Age 51, is a Consultant (formerly General Manager, Global
Education Industry from 1994 to 1997, and President, Applications Solutions
Division from 1991 to 1994, IBM Corporation (global education and global
applications)).
The following table sets forth the compensation paid to Mr. Macera and Mr.
Stitzel in their capacities as Trustees of Liberty Variable Investment Trust
(LVIT), which offers nine funds: Colonial Growth and Income Fund, Variable
Series; Stein Roe Global Utilities Fund, Variable Series; Colonial International
Fund for Growth, Variable Series; Colonial U.S. Stock Fund, Variable Series;
Colonial Strategic Income Fund, Variable Series; Newport Tiger Fund, Variable
Series; Liberty All-Star Equity Fund, Variable Series; Colonial Small Cap Value
Fund, Variable Series; and Colonial High Yield Securities Fund, Variable Series,
for serving during the fiscal year ended December 31, 1997:
Total Compensation From the LVIT
and Investment Companies which
Trustee Aggregate 1997 Compensation(2) are Series of LVIT in 1997(3)
- ------- --------------------------- ---------------
Salvatore Macera $12,500 $33,500
Thomas E. Stitzel 12,500 33,500
<PAGE>
(2) Stephen E. Gibson is President of the Funds. He replaces Harold W. Cogger.
He is 45 years old and has been President of the Funds since June, 1998,
Chairman of the Board since July, 1998, Chief Executive Officer and
President since December, 1996 and Director, since July, 1996 of the
Advisor (formerly Executive Vice President from July, 1996 to December,
1996); Director, Chief Executive Officer and President of TCG since
December, 1996 (formerly Managing Director of Marketing of Putnam
Investments, June, 1992 to July, 1996).
(3) Nancy L. Conlin is Secretary of the Funds. She replaces Michael H. Koonce.
She is 44 years old and has been Secretary of the Funds since April, 1998
(formerly Assistant Secretary from July, 1994 to April, 1998), is Director,
Senior Vice President, General Counsel, Clerk and Secretary of the Advisor
since April, 1998 (formerly Vice President, Counsel, Assistant to Secretary
and Assistant Clerk from July, 1994 to April, 1998), Vice President -
Legal, General Counsel and Clerk of TCG since April, 1998 (formerly
Assistant Clerk from July, 1994 to April, 1998).
(4) The following paragraph is added to the MANAGEMENT OF THE FUNDS section:
The Trustees have the authority to convert the Funds into a master
fund/feeder fund structure. Under this structure, a Fund may invest all
or a portion of its investable assets in investment companies with
substantially the same investment objectives, policies and restrictions
as the Fund. The primary reason to use the master fund/feeder fund
structure is to provide a mechanism to pool, in a single master fund,
investments of different investor classes, resulting in a larger
portfolio, investment and administrative efficiencies and economies of
scale.
(5) Liberty Financial Investments, Inc., the Fund's distributor, has changed
its name to Liberty Funds Distributor, Inc. (Distributor). The new name
does not affect the investment management of, or services to, the Fund. The
Distributor continues to offer selected investment products managed by
subsidiaries of Liberty Financial Companies, Inc. (NYSE:L), the indirect
parent of the Distributor.
(6) Colonial Investors Service Center, Inc. (Transfer Agent), the Fund's
transfer agent, has changed its name to Liberty Funds Services, Inc. The
new name will not affect services that the Transfer Agent provides to the
Fund.
(7) Price Waterhouse LLP, the Fund's independent accountants, changed its name
to PricewaterhouseCoopers LLP. The new name will not affect services that
PricewaterhouseCoopers LLP provides to the Fund.
(8) William D. Ireland, Jr., George L. Shinn an Sinclair Weeks, Jr., retired
as Trustees of the Trust effective April 24, 1998.
(9) The following is added as the last paragraphs under the caption PERFORMANCE
MEASURES:
General. From time to time, the Fund may discuss, or quote its current
portfolio manager as well as other investment personnel, including such
persons' views on: the economy; securities markets; portfolio securities
and their issuers; investment philosophies, strategies, techniques and
criteria used in the selection of securities to be purchased or sold for
the Fund, including the New ValueTM investment strategy that expands upon
the principles of traditional value investing; the Fund's portfolio
holdings; the investment research and analysis process; the formulation
and evaluation of investment recommendations; and the assessment and
evaluation of credit, interest rate, market and economic risks and
similar or related matters.
The Fund may also quote evaluations mentioned in independent radio or
television broadcasts, and use charts and graphs to illustrate the past
performance of various indices such as those mentioned in Appendix II and
illustrations using hypothetical rates of return to illustrate the
effects of compounding and tax-deferral. The Fund may advertise examples
of the effects of periodic investment plans, including the principle of
dollar cost averaging. In such a program, an investor invests a fixed
dollar amount in a fund at periodic intervals, thereby purchasing fewer
shares when prices are high and more shares when prices are low.
From time to time, the Fund may also discuss or quote the views of its
distributor, its investment advisor and other financial planning, legal,
tax, accounting, insurance, estate planning and other professionals, or
from surveys, regarding individual and family financial planning. Such
views may include information regarding: retirement planning; general
investment techniques (e.g., asset allocation and disciplined saving and
investing); business succession; issues with respect to insurance (e.g.,
disability and life insurance and Medicare supplemental insurance);
issues regarding financial and health care management for elderly family
members; and similar or related matters.
GU-39/244G-1198 October 30, 1998
- --------
1 Mr. Carberry is an "interested person," as defined in the Investment Company
Act of 1940 (1940 Act), because of his affiliation with Liberty Financial
Companies, Inc., an indirect majority-owned subsidiary of Liberty Mutual
Insurance Company.
2 Consists of Trustee fees in the amount of (i) a $5,000 annual retainer, (ii)
a $1,500 meeting fee for each meeting attended in person and (iii) a
$500 meeting fee for each telephone meeting.
3 Includes Trustee fees paid by LVIT and by Stein Roe Variable Investment Trust.
