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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 of REITs may provide a
strategic advantage. In fact, REITs can be a welcome addition to a diversified
portfolio.
CGM Realty Fund invests in REITs and over the past three years, has outperformed
the NAREIT Equity REIT Index by 23% to return more than 113%. 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 advantages of
real estate. Which, considering today's marketplace, is a very 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.] 1-800-598-0750
[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):]
[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.]
*19.4%, 28.7%, and 21.8% are the average annual total returns for CGM Realty
Fund for the 1- and 3-year periods ended 3/31/98 and from inception 5/13/94
through 3/31/98. 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 National Association of Real Estate Investment Trusts (NAREIT) Equity
REIT Index is an unmanaged index currently consisting of approximately 175
equity REITs. 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. 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
