ONE FINANCIAL CENTER BOSTON MA 02111-2621
Colonial Global Equity Fund
Supplement to Prospectus dated March 1, 2000
(Replacing Supplements dated June 5, 2000, June 23, 2000
August 1, 2000 and October 23, 2000)
The Fund's Prospectus is amended as follows:
1) Effective July 14, 2000, the Fund changed its name to "Liberty Newport
Global Equity Fund."
2) Effective January 1, 2001 Ophelia Barsketis and Deborah A. Jansen no
longer co-manage the Fund and Charles R. Roberts and Erik P. Gustafson
began co-managing the Fund. The caption "PORTFOLIO MANAGER" is replaced
in its entirety as follows:
PORTFOLIO MANAGERS
Charles R. Roberts, a senior vice president of the advisor and
co-manager for the Fund. Mr. Roberts is also managing director of
international equities and senior vice president of Newport Pacific
Management, Inc. (Newport Pacific), the immediate parent of Newport
Fund Management, Inc. (Newport). Mr. Roberts has been employed with
Newport and Newport Pacific since November, 1998 and has managed other
international funds in the Liberty group of funds since that time.
Prior to joining Newport and Newport Pacific, he managed the European
component of institutional international equity accounts at Progress
Investment Management (Progress) since 1997. Prior to joining Progress
in 1997, he managed the European component of institutional
international equity accounts and was a member of the investment policy
committee at Sit/Kim International since 1994.
Erik P. Gustafson, a senior vice president of the advisor and
co-manager of the Fund. Mr. Gustafson joined Stein Roe & Farnham
Incorporated (Stein Roe), an affiliate of the advisor, in 1992 as a
portfolio manager for privately managed accounts. He holds a B.A.
degree from the University of Virginia and M.B.A. and J.D. degrees
from Florida State University.
3) Effective June 5, 2000, the following caption is replaced in its
entirety as follows:
YOUR EXPENSES
The Fund's advisor voluntarily agreed to waive advisory fees and
reimburse the Fund for certain expenses so that the total annual fund
operating expenses (exclusive of distribution and service fees,
brokerage commissions, interest, taxes and extraordinary expenses, if
any) will not exceed 1.40%. As a result, the actual management fee for
each share class would be 0.85% and the total annual fund operating
expenses (exclusive of distribution and service fees, brokerage
commissions, interest, taxes and extraordinary expenses, if any) for
each of the Class A, B and C shares would be 1.40%. This arrangement
may be terminated by the advisor at any time.
4) Effective June 5, 2000, the following information is added to the
existing information under the caption "INVESTMENT ADVISORS."
Investment Advisor. On March 15, 2000, Colonial started using Newport's
trading facilities to buy and sell foreign securities for the Fund's
portfolio. Newport executes all trades under its own procedures.
5) Effective October 23, 2000, the following caption is replaced in
its entirety as follows:
HOW TO EXCHANGE SHARES
You may exchange your shares for shares of the same share class of
another fund distributed by Liberty Funds Distributor, Inc. at net
asset value. Shareholders of Liberty Acorn funds that qualify to
purchase Class A shares at net asset value may exchange their Class A
shares for Class Z shares of another fund distributed by Liberty Funds
Distributor, Inc. (see the Statement of Additional Information for a
description of these situations). If your shares are subject to a CDSC,
you will not be charged a CDSC upon the exchange. However, when you
sell the shares acquired through the exchange, the shares sold may be
subject to a CDSC, depending upon when you originally purchased the
shares you exchanged. For purposes of computing the CDSC, the length of
time you have owned your shares will be computed from the date of your
original purchase, and the applicable CDSC will be the CDSC of the
original fund. Unless your account is part of a tax-deferred retirement
plan, an exchange is a taxable event. Therefore, you may realize a gain
or a loss for tax purposes. The Fund may terminate your exchange
privilege if the advisor determines that your exchange activity is
likely to adversely impact its ability to manage the Fund. To exchange
by telephone, call 1-800-422-3737.
6) Effective August 1, 2000, the footnote to the table "Class A Sales
Charges" under the caption "Sales Charges" is revised as follows:
Class A shares bought without an initial sales charge in accounts
aggregating $1 million to $25 million at the time of purchase are
subject to a 1% CDSC if the shares are sold within 18 months of the
time of purchase. Subsequent Class A purchases that bring your account
value above $1 million are subject to a CDSC if redeemed within 18
months of the date of purchase. The 18 month period begins on the first
day of the month following each purchase. The contingent deferred sales
charge does not apply to retirement plans purchased through a fee-based
program.
The following table replaces the table "Purchases Over $1 Million"
under the subcaption "Sales Charges" in the "Your Account" section:
Amount purchased Commission %
First $3 million 1.00
$3 million to less than $5 million 0.80
$5 million to less than $25 million 0.50
$25 million or more 0.25*
* Paid over 12 months but only to the extent the shares remain
outstanding.
For Class A share purchases by participants in certain group retirement
plans offered through a fee-based program, financial advisors receive a
1% commission from the distributor on all purchases of less than $3
million.
781-36/450E-0101 January 19, 2001
