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[Black and white print advertisement.]
CGM REALTY FUND [Headline in largest white type against black background.]
EXCEPTIONAL FOUR-YEAR PERFORMANCE [Subhead in second largest white type against
black background.]
98.6%*Total Return 7/1/94-6/30/98 [Number is in large white type; date in
smaller italic 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:]
One of the top performing real estate funds over a four year period, CGM Realty
Fund is up more than 98% since July 1, 1994.+ CGM Realty Fund offers you the
expertise of fund manager Ken Heebner and the potential for high current income
and long-term capital appreciation. Call now for more information and a
prospectus.
[Bar chart with two bars appears next; text over bars reads:]
TOTAL RETURN 7/1/94-6/30/98
[The bar on the left is a light grey bar with the figure 72.9% in black type
inside the bar. Beneath the bar is the label:]
Lipper Real Estate Fund Average
[The bar on the right is black and the figure 98.6% drops out to white inside
the bar. Beneath the bar is the label:]
CGM Realty Fund
[Beneath the chart ,a line drawing of a fencer in a box with a black and white
striped background appears below and to the left (logo). 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.]
1-800-598-0758
[Beneath the floor on which the fencer stands in black type against a pale grey
background (slightly smaller type size than ad body copy): is the following
disclosure (please note that numbers in disclosure text are the same size as
total return numbers in the sub-head.)]
*6.1%, 18.7% and 18.0% are the average annual total returns for the one and four
year periods ended 6/30/98 and from inception (May 13, 1994) through 6/30/98.]
+Lipper Analytical Services, Inc., an independent mutual fund ranking agency,
ranks CGM Realty Fund #2 out of 18 real estate funds for four-year performance
and #65 out of 77 real estate funds for one year performance, for the periods
ended 6/30/98. The Fund's adviser absorbed a portion of management fees and
expenses through 12/31/97. 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, refer to the current
prospectus which is available from the address above. 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
Copyright 1998
