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GT GLOBAL DOLLAR FUND
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
OBJECTIVE AND POLICIES," "HOW TO INVEST," "MANAGEMENT" AND "OTHER INFORMATION"
WITH RESPECT TO G.T. INVESTMENT PORTFOLIOS, INC. (THE "COMPANY") AND THE 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 Board of Directors has
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 Company, 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 Company. In
addition to shareholder approval, implementation of the new investment advisory
arrangements is contingent upon the consummation of the Purchase.
The Board of Directors of the Company has also approved the following matters,
subject to shareholder approval:
1. The adoption of compensation-type Rule 12b-1 plans of distribution for the
Fund that would replace the Fund's current reimbursement-type Rule 12b-1
plans of distribution.
2. Amendments to the fundamental investment restrictions of the Fund.
3. The reorganization of the Company from a Maryland corporation into a
Delaware business trust.
In addition, the Board has approved new distribution agreements for the Fund
pursuant to which A I M Distributors, Inc. ("A I M Distributors"), a
wholly-owned subsidiary of A I M, would serve as the Fund's principal
underwriter.
Implementation of the new distribution arrangements is contingent upon (1)
shareholder approval of the new investment advisory arrangements and the new
Rule 12b-1 plans; 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 SUPPLEMENTS THE DISCUSSION UNDER "HOW TO REDEEM SHARES" WITH
RESPECT TO THE FUND:
Upon redemption, Class B shares of the 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 the Fund will be deemed to have occurred at the time
of the initial purchase of the Floating Rate Fund's common stock.
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THE FOLLOWING REVISES AND SUPERSEDES, AS APPLICABLE, THE DISCUSSION UNDER
"MANAGEMENT" WITH RESPECT TO THE FUND:
Cheng-Hock Lau and Heide Koch are the Portfolio Managers for the Fund. Mr. Lau
has been Chief Investment Officer for Global Fixed Income for Chancellor LGT
since November 1996, and was a Senior Portfolio Manager for global/international
fixed income for Chancellor LGT from July 1995 to November 1996. Prior thereto,
Mr. Lau was a Senior Vice President and Senior Portfolio Manager for Fiduciary
Trust Company International from 1993 to 1995, and Vice President at Banker's
Trust Company from 1991 to 1993. Ms. Koch has been a Portfolio Manager for the
Fund since 1997, and a Portfolio Manager for Chancellor LGT since 1991.
On October 31, 1996, Chancellor Capital Management, Inc. ("Chancellor Capital")
merged with LGT Asset Management, Inc., and the resulting entity was renamed
Chancellor LGT Asset Management, Inc. Mr. Lau and Ms. Koch were employees only
of Chancellor Capital prior to October 31, 1996.
DOLST803M March 25, 1998
