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[Black and white print advertisement.]
[Primary focus of the ad is a photograph of a front-end loader dumping dirt on
top of a pile of soil and rocks. Above the photo on the left hand side of the
ad, the following headline prints in black against a white background:]
CONSIDERING THE UNPREDICTABILITY OF THE MARKET, WE SUGGEST PUTTING YOUR MONEY IN
THE GROUND
[To the right of the headline and running down the right side of the photo in
smaller black type is the following text:]
In today's unpredictable marketplace, the performance and stability of REITs may
provide a strategic advantage. In fact, over the past 20 years, the NAREIT
Equity REIT Index has outperformed the S&P 500 Index by 10%. Over the past three
years, CGM Realty Fund has outperformed the NAREIT Equity REIT Index by 16%.
Perhaps that's why a panel of CNBC experts recently recommended CGM Realty Fund
as one of the top four funds to invest in for 1998.*
Managed by Ken Heebner, CGM Realty Fund offers the potential for high current
income and long term capital appreciation along with the long term stability of
real estate. Which, considering today's marketplace, is a pretty enviable
position to be in. Call now for more information and a prospectus.
[A line drawing of a fencer in a box with a black and white striped background
(logo) appears below the text to the right of the photo. To the right of the
logo is the following text:]
CGM REALTY 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.]
1-800-598-0742
[Beneath the phone number in all capital letters:]
MANAGED BY KEN HEEBNER
[Beneath the body of the ad is the following text in black type against a white
background(slightly smaller type size than ad body copy):]
*On 12/10/97, a panel of three experts, selected by CNBC, judged CGM Realty Fund
as one of the four best mutual funds for 1998.
[The numbers that appear in the following copy are larger than the surrounding
text and are the same size as numbers that appear in the text.]
26.7%, 29.8%, and 24.1% are the average annual total returns for CGM Realty Fund
for the 1- and 3-year periods ended 12/31/97 and from inception 5/13/94 through
12/31/97. The Fund's adviser absorbed a portion of management fees and expenses
from inception through 12/31/97. Otherwise the total return would be lower. The
S&P 500 is an unmanaged index of the stock performance of 500 major companies,
the majority of which are listed on the New York Stock Exchange. The National
Association of Real Estate Investment Trusts (NAREIT) Equity REIT Index is an
unmanaged index currently consisting of approximately 175 equity REITs. 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 a prospectus containing
more complete information, including management fees, charges, and expenses,
call toll-free.
[Entire ad is surrounded by a decorative border containing the following words
used as a repetitive pattern:] NO LOAD
Copyright 1998
