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SUPPLEMENT TO THE PROSPECTUS OF
DEAN WITTER WORLD WIDE INVESTMENT TRUST DATED MAY 30, 1995
MANAGEMENT OF THE FUND. On July 26, 1995, the Board of Trustees voted to
terminate the existing investment advisory agreements of the Fund and approved
the Fund entering into a new investment agreement with InterCapital and a
sub-advisory agreement with Morgan Grenfell Investment Services Limited ("Morgan
Grenfell"). Under the new investment management agreement, InterCapital would
become the sole investment adviser to the Fund and receive compensation at the
annual rate of 1.00% of average daily net assets (0.95% on assets over $500
million). Under the sub-advisory agreement, Morgan Grenfell would be responsible
for making all of the Fund's non-U.S. investments (InterCapital would retain
responsibility under the management agreement for the Fund's U.S. investments)
and receive a fee from InterCapital equal to 40% of InterCapital's investment
management fee. The new investment management agreement and sub-advisory
agreement are subject to shareholder approval at a special meeting of
shareholders anticipated to be held on or about October 31, 1995.
In order to provide for investment management services, pending the
shareholder vote, the Board also approved: (a) an interim investment management
agreement with InterCapital pursuant to which the Fund will pay InterCapital a
fee at an annual rate of 0.55% of daily net assets (0.5225% on assets over $500
million), and (b) an interim sub-advisory agreement with Morgan Grenfell,
pursuant to which the Fund will pay Morgan Grenfell a fee at an annual rate of
0.45% of daily net assets (0.427% on assets over $500 million). These interim
agreements will terminate on the earlier of the implementation of the new
management agreement described above or November 28, 1995.
The aggregate fees payable by the Fund for investment advisory services
under the interim agreements and the new agreements are the same as those paid
by the Fund under the previous advisory agreements.
Commencing August 1, 1995, Mark Bavoso, Senior Vice President of
InterCapital and a portfolio manager at InterCapital for over five years, will
serve as the primary portfolio manager of the Fund with respect to investment in
securities of U.S. issuers and Patrick W. W. Disney, Managing Director of Morgan
Grenfell and a manager of international portfolios for Morgan Grenfell for over
five years, will serve as the primary portfolio manager for the Fund with
respect to non-U.S. investments.
INVESTMENT POLICIES AND RESTRICTIONS. On July 26, the Trustees also
approved a new non-fundamental investment policy permitting the Fund to purchase
and sell futures contracts and options for hedging purposes. Implementation of
the new policy is subject to shareholder approval. Furthermore, the Board has
approved additional circumstances under which the Fund may engage in forward
foreign currency exchange transactions, to take effect upon the implementation
of the above-mentioned futures and options policy.
Capitalized terms in this Supplement are used as defined in the Prospectus,
unless otherwise defined herein.
July 26, 1995
