Rule 482 ad
Rule 497(e)
File Nos. 2-10653 and 811-82
[Black and white print advertisement.] A Top Performing Real Estate Fund
[Headline in largest white type against black background.]
Over Five Years.* [Subhead in second largest white type against black
background.]
[Black background with black and white photo of fencer with both arms raised.
White box to the left of the fencer prints over background and contains the
following text in black type:]
One of the top performing real estate funds over a five year period, CGM Realty
Fund is up more than 78% since April 1, 1995. 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 4/1/95-3/31/00
[The bar on the left is a light gray bar with the figure 51.8% 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 78.8% 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.]
1-800-598-0757
[Beneath the white box, in white type against a black background:]
Managed by Ken Heebner
[Beneath the floor on which the fencer stands in black type against a pale gray
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 white box):]
<PAGE>
*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.
10.6%, 12.3% and 10.6% are the average annual total returns for the one and
five-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. This
information represents past performance, which is no guarantee of future
results. The investment return and principal value of your shares will
fluctuate and you may have a gain or loss when you sell shares. For more
complete information, including management fees 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 2000 CGM
