Rule 482 ad
Rule 497(e)
File Nos. 2-10653 and 811-82
[Television commercial. Black and white stills of fencers super and dissolve
while voice reads:] CGM Realty Fund.
[Title slide reading:] CGM Realty Fund [Supers and dissolves.]
[Title slide reading:] A Top Performing Real Estate Fund over 5-Years [in large
type and the following in smaller type:]
Lipper Analytical Services, Inc., an independent mutual fund ranking agency,
ranks CGM Realty Fund #3 of 31 real estate funds for five-year performance and
#3 of 138 real estate funds for one-year performance for the periods ended
3/31/00. 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.
[Voice reads:] One of the top-ranked real estate funds for five year
performance.
[Title slide reading:] Managed by Ken Heebner [Voice reads:] Managed by Ken
Heebner, the Fund offers the potential for high current income and long-term
appreciation.
[Supers and dissolves while voice reads:]
Returning more than 78% over the past five years,
[A bar chart (in color) comes up on the screen showing the headline:] Five-Year
Total Return
[The bars with identifying type are from left to right as follows:] 51.8%
Lipper Real Estate Fund Average 78.8% CGM Realty Fund
[In smaller type below (with larger numbers):] 10.6%, 12.3% and 10.6% are
the average annual total returns for CGM Realty Fund for the 1- and 5-year
periods ended 3/31/00 and from inception (May 13, 1994) through 3/31/00.
[Voiceover continues:] CGM Realty Fund has outperformed the Lipper Real Estate
Fund Average for five-year performance.
[Title slide dissolves and new title slide supers and is held that reads:]
1-800-CGM-INFO [in large type and the following disclosure in smaller type:]
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 and expenses, call
toll-free. Read it carefully before you invest.
[Voice reads:]
For a prospectus, call 1-800-CGM-INFO.
[The previous slide dissolves and the final slide supers; a line drawing of a
fencer in a box with a black and white striped background (logo) appears; to
the right of the logo is the following text:]
CGM Realty Fund
A Top Performing Real Estate Fund over 5-Years
[Voice reads:] CGM Realty Fund. One of the Top Performing Real Estate Funds
over 5-Years. [Commercial ends.]
<PAGE>
Rule 482 ad
Rule 497(e)
File Nos. 2-10653 and 811-82
[Television commercial. Video of fencers sparring while voice reads:] No matter
how you look at it, investing is a challenge. You need to consider all the
angles ... to diversify ... consider different moves ... like real estate ...
[supers and dissolves]
[Title slide reading:] CGM Realty Fund Managed by Ken Heebner [Voice reads:]
... like CGM Realty Fund. Managed by Ken Heebner,
[Title slide supers and dissolves to title slide reading:] CGM Realty Fund Five
Year Total Return 78.8% (4/1/95 - 3/31/00)
[In smaller type below (with larger numbers):] 10.6%, 12.3% and 10.6% are the
average annual total returns for CGM Realty Fund for the 1- and 5-year periods
ended 3/31/00 and from inception on 5/13/94 through 3/31/00. 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.
[Voice reads:] CGM Realty Fund has returned more than 78% over the past five
years.
[Title slide supers and dissolves to title slide reading:] CGM Realty Fund A
Top Performing Real Estate Fund over 5-Years
[In smaller type below:] Lipper Analytical Services, Inc., an independent
mutual fund ranking agency, ranks CGM Realty Fund #3 of 31 real estate funds
for five-year performance and #3 of 138 real estate funds for one-year
performance for the periods ended 3/31/00.
[Voice reads:] to become one of the top performing real estate funds over five
years
[Title slide supers and dissolves to video of fencers sparring.] [Voiceover
continues:] ... now that's an angle every investor can appreciate.
[The previous slide dissolves and the final slide supers; a live fencer
transforms into a line drawing of a fencer in a box with a black and white
striped background (logo); to the right of the logo is the following text:]
CGM Realty Fund 1-800-CGM-INFO [in large type and the following disclosure in
smaller type:]
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 and expenses, call
toll-free. Read it carefully before you invest.
[Voice reads:] CGM Realty Fund. For a prospectus call, 1-800-CGM-INFO.
[Commercial ends.]
