Smith Barney Shearson Global Opportunities Fund
(the "Fund")
Supplement to Prospectus dated September 1, 1993
The following information replaces the disclosure found in the Fund's
Prospectus under the headings "Prospectus Summary--Management of the Fund" and
"Management of the Fund--Investment Adviser and --Portfolio Management:"
Smith, Barney Advisers, Inc. ("SBA") serves as the Fund's investment
adviser pursuant to an investment advisory agreement dated March 22, 1994.
SBA is located at 1345 Avenue of the Americas, New York, New York 10105 and
has been in the investment counseling business since 1968. SBA is a wholly
owned subsidiary of Smith Barney Shearson Holdings Inc., which is in turn a
wholly owned subsidiary of The Travelers Inc. ("Travelers"). Travelers is a
financial services holding company engaged through its subsidiaries
principally in the businesses of consumer financial, investment and insurance
services.
Messrs. Jeffrey J. Russell and James B. Conheady were elected by the
Board of Trustees on January 20, 1994. Mr. Russell serves as Vice President
and Investment Officer of the Fund and Mr. Conheady serves as Investment
Officer of the Fund. Mr. Russell is First Vice President of SBA and prior to
joining SBA in 1990, he served as Vice President at Drexel Burham, Lambert.
Mr. Conheady is a Managing Director of Smith Barney, Inc. and Vice President
of SBA. Prior to joining SBA, Mr. Conheady was First Vice President at Drexel
Burham, Lambert. Messrs. Russell and Conheady are responsible for managing
the day-to-day operations of the Fund, including the making of all investment
decisions.
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Supplement dated: April 5, 1994
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