USAA USAA INVESTMENT TRUST
EAGLE INCOME STRATEGY FUND,
LOGO CORNERSTONE STRATEGY FUND, AND
GROWTH AND TAX STRATEGY FUND
SUPPLEMENT DATED JANUARY 19, 2000
TO EACH FUND'S PROSPECTUS
DATED OCTOBER 1, 1999
INCOME STRATEGY FUND
After 29 years of service with USAA Investment Management Company, John W.
Saunders, Jr., will be retiring on January 31, 2000. Page 12 of the Fund's
Prospectus under the heading "Portfolio Managers" is amended to reflect the
following change effective February 1, 2000.
MARGARET "DIDI" WEINBLATT, Vice President of Mutual Fund Portfolios, assumes
portfolio management responsibilities of the Bonds investment category and
asset allocation manager of the Income Strategy Fund replacing Mr. Saunders.
Ms. Weinblatt has 20 years investment management experience and became a member
of our portfolio management team in January 2000. Prior to joining us she
worked for Countrywide Investments from June 1998 to November 1999; Copernicus
Asset Management, Ltd. from January 1996 to June 1998; and Neuberger & Berman
from 1986 to October 1995. Ms. Weinblatt earned the Chartered Financial Analyst
designation in 1985 and is a member of the Association for Investment
Management and Research and the New York Society of Securities Analysts. She
holds a Ph.D.and MA from the University of Pennsylvania and a BA from Radcliffe
College.
CORNERSTONE STRATEGY FUND
After 29 years of service with USAA Investment Management Company, John W.
Saunders, Jr., will be retiring on January 31, 2000. Pages 13 and 14 of the
Fund's Prospectus under the heading "Portfolio Managers" is amended to reflect
the following change effective February 1, 2000.
DONNA J. BAGGERLY, Assistant Vice President of Fixed Income Mutual Fund
Portfolios, assumes portfolio management responsibilities of the U.S.
Government Securities investment category of the Cornerstone Strategy Fund
replacing Mr. Saunders. Ms. Baggerly has 12 years investment management
experience and has worked for us for four years. Prior to joining us, Ms.
Baggerly worked for Allstate Insurance Company from December 1990 to October
1995. She earned the Chartered Financial Analyst designation in 1998 and is a
member of the Association for Investment Management and Research and the San
Antonio Financial Analysts Society, Inc. She holds a BSB from Eastern Illinois
University.
Additionally, DAVID G. PEEBLES, Senior Vice President of Equity Investments,
will now oversee the management of all equity mutual fund portfolios and will
no longer co-manage the International Stocks investment category of the
Cornerstone Strategy Fund. Albert C. Sebastian and Kevin P. Moore will
co-manage the International Stocks investment category of this Fund.
GROWTH AND TAX STRATEGY FUND
After 29 years of service with USAA Investment Management Company, John W.
Saunders, Jr., will be retiring on January 31, 2000. Page 14 of the Fund's
Prospectus under the heading "Portfolio Managers" is amended to reflect the
following change effective February 1, 2000.
CLIFFORD A. GLADSON, Vice President of Mutual Fund Portfolios, assumes the
asset allocation management responsibilities of the Growth and Tax Strategy
Fund replacing Mr. Saunders. Mr. Gladson is currently the portfolio manager of
the Tax-Exempt Bonds and Tax-Exempt Money Market Instruments investment
categories of the Fund. He has 12 years investment management experience and
has worked for us for nine years. He earned the Chartered Financial Analyst
designation in 1990 and is a member of the Association for Investment
Management and Research, the San Antonio Financial Analysts Society, Inc., and
the National Federation of Municipal Analysts. He holds an MS from the
University of Wisconsin, Milwaukee and a BS from Marquette University.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
35392-0100
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USAA USAA INVESTMENT TRUST
EAGLE INTERNATIONAL FUND,
LOGO GROWTH STRATEGY FUND, AND
WORLD GROWTH FUND
SUPPLEMENT DATED JANUARY 19, 2000
TO EACH FUND'S PROSPECTUS
DATED OCTOBER 1, 1999
As a result of several recent retirements in senior management at USAA
Investment Management Company, David G. Peebles, in his capacity as Senior Vice
President of Equity Investments, will now oversee the management of all equity
mutual fund portfolios. Mr. Peebles will no longer act as the asset allocation
manager of the World Growth Fund. In addition, he will no longer co-manage the
International Fund, the International Stocks investment category of the Growth
Strategy Fund, and the Foreign Securities investment category of the World
Growth Fund. Albert C. Sebastian will act as the asset allocation manager for
the World Growth Fund. Mr. Sebastian and Kevin P. Moore will co-manage the
International Fund, the International Stocks investment category of the Growth
Strategy Fund, and the Foreign Securities investment category of the World
Growth Fund.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE 35397-0100
