AMERICA'S #1 GENERAL BOND FUND. [Headline in largest (white) type]
FOR 3- AND 5-YEAR PERFORMANCE [Sub-headline in second largest (white) type]
[Black background with black and white photo of victorious fencer with both arms
raised. White box prints over background and contains the following text in
black type:]
To become #1, you must make a commitment to winning. To total performance. That
is how CGM Fixed Income Fund became America's #1 General Bond Fund for both the
five and three year periods ended 3/31/97.*
The no-load CGM Fixed Income Fund beat all its competition with a total return
of 72.6% over the past five years and 38.9% over the past three years. The fund
is designed to maximize total return from income and capital appreciation. Gain
a competitive advantage with CGM Fixed Income Fund.
[bar chart with four bars appears next]
two text lines over bars read: Total Return for the periods ended 3/31/97
[over left two bars:] Three Years [over right two bars:] Five Years
[the bars in the chart go from shortest to tallest--three year and five year
total return figures:]
23.7% Lipper General Bond Fund Average, 38.9% CGM Fixed Income Fund, 50.9%
Lipper General Bond Fund Average, 72.6% CGM Fixed Income Fund
[Beneath the chart is the following disclosure (please note that numbers in
disclosure are the same size as total return numbers in the chart; text of
disclosure is slightly smaller than that of ad body copy).]
6.7%, 11.6%, 11.5% and 11.5% are the average annual total returns for the one,
three, and five-year periods ended 3/31/97 and from inception (March 17, 1992)
through 3/31/97.
[a line drawing of a fencer in a box with black and white striped background
appears below and to the left. (logo) to the right (still in the white box)
reads:]
CGM FIXED INCOME FUND
The CGM Funds
222 Berkeley Street, Suite 1013
Boston, MA 02116
www.CGMFunds.com
[a phone number appears next and prints in a larger size than does the ad body
copy.]
1-800-598-0765
[Below the white box, type prints in white against black background:]
100% NO-LOAD
[Beneath the floor on which the fencer stands prints the following in black
against a pale background (slightly smaller type size than ad body copy):]
*Lipper Analytical Services Inc., an independent mutual fund ranking service,
ranks CGM Fixed Income Fund #1 of 13 general bond funds for five-year
performance, #1 of 19 general bond funds for three-year performance and #26 of
38 general bond funds for one-year performance for the periods ended 3/31/97.
The Fund's adviser is currently absorbing a portion of management fees and
expenses. Otherwise the total return would be lower. This information represents
past performance, which is no guarantee of future results. The investment return
and principal value of 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, call toll-free for a prospectus. Read it carefully before
you invest or send money.
[Entire ad is surrounded by a decorative border containing the following words
used as a repetitive pattern:]
No-Load
