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[This is an 8-1/2" x 11" brochure that folds twice (horizontally). First outside
panel is printed in solid deep blue with white type. Text reads:]
YOU HAVE EXPECTATIONS...
[When first panel is lifted, the next visible panel is white. On the left hand
side of the panel is a blue ribbon with a gold #1 inside. Text appears to the
right of the ribbon and reads:]
WE HAVE PERFORMANCE.
[Opening the next panel exposes the inside of the brochure which is the full
8-1/2" x 11" flat. Headline at the top in large black type reads:]
TOP PERFORMING CGM FUNDS
[Text area is divided into three horizontal sections, one devoted to each of
three different CGM Funds. To the left of the text in each section is a blue
ribbon with type in black and gold over the ribbon reading:]
AMERICA'S #1
[Type in ribbon lines up with fund category description to read, for example:
America's #1 Balanced Fund for 15-year Performance]
[Brochure text reads:]
BALANCED FUND FOR 15-YEAR PERFORMANCE [White type against a band of gold]
CGM MUTUAL FUND [large blue type]
738.9%
Total return 7/1/81-6/30/96 [smaller black italic type]
14.1,% 13.2%, 11.9%, and 15.2% are the average annual total returns for CGM
Mutual Fund for the 1, 5, 10, and 15-year periods ended 6/30/96. Ranking
according to Lipper Analytical Services, Inc., which ranks CGM Mutual Fund #1 of
24 balanced funds for 15-year performance, #4 of 30 balanced funds for 10-year
performance, #8 of 67 balanced funds for 5-year performance, and #169 of 247
balanced funds for 1-year performance through 6/30/96. CGM Mutual Fund has been
managed continuously by Ken Heebner since 1981. [Type prints in black and is
smaller than headlines--around 9 point--with the exception of the average annual
total return numbers which are comparable in size to the 15-year total return
number.]
GROWTH FUND FOR 15-YEAR PERFORMANCE [White type against a band of gold]
CGM CAPITAL DEVELOPMENT FUND [large blue type]
1,637.9%
Total return 7/1/81-6/30/96 [smaller black italic type]
39.8%, 22.1%, 17.5%, and 21.0% are the average annual total returns for CGM
Capital Development Fund for the 1, 5, 10, and 15-year periods ended 6/30/96.
Ranking according to Lipper Analytical Services, Inc., which ranks CGM Capital
Development Fund #1 of 111 growth funds for 15-year performance, #4 of 162
growth funds for 10-year performance, #3 of 248 growth funds for 5-year
performance, and #4 of 619 growth funds for 1-year performance through 6/30/96.
CGM Capital Development Fund has been managed continuously by Ken Heebner since
1976. CGM Capital Development Fund is closed to new investors. [Type prints in
black and is smaller than headlines--around 9 point--with the exception of the
average annual total return numbers which are comparable in size to the 15-year
total return number.]
GENERAL BOND FUND FOR ONE- AND THREE-YEAR PERFORMANCE [White type against a band
of gold]
CGM FIXED INCOME FUND [large blue type]
17.4%
Total return 7/1/95-6/30/96 [smaller black italic type]
35.0%
Total return 7/1/93-6/30/96 [smaller black italic type]
12.3%, 17.4%. and 10.5% are the average annual total returns for CGM Fixed
Income Fund from inception (3/17/92) through 6/30/96, and for the 1 and 3-year
periods ended 6/30/96. The Fund's adviser is currently absorbing a portion of
management fees and expenses. Otherwise the total return would be lower. Ranking
according to Lipper Analytical Services, Inc., which ranks CGM Fixed Income #1
of 22 general bond funds for 3-year performance and #1 of 54 general bond funds
for 1-year performance through 6/30/96. Janice Saul and Ken Heebner are
co-managers of CGM Fixed Income Fund. [Type prints in black and is smaller than
headlines--around 9 point--with the exception of the average annual total return
numbers which are comparable in size to the one- and three-year total return
numbers.]
[In smaller type at the bottom is the following text:]
This information represents past performance, which is no guarantee of future
results. The investment return and principal value of your shares will fluctuate
and you may have a gain or loss when you sell shares. For more complete
information, including management fees, charges, and expenses, refer to the
appropriate prospectus which is available from the address on the back. Read it
carefully before you invest or send money. Lipper Analytical Services, Inc. is
an independent mutual fund ranking service.
[One the back side of the brochure printing in black is the following text:]
THE CGM FUNDS
222 Berkeley Street, Suite 1013
Boston, MA 02116
1-800-598-0741
[which appears to the right of our logo which is a black and white line drawing
of a fencer against a lined black and white box. A small code appears at the
bottom of this panel:]
CGM 8/96
