SUNAMERICA EQUITY FUNDS
Supplement to the Prospectus dated January 31, 2000, as supplemented
April 3, 2000
The following items reflect changes to the Class B shares of each Fund:
The Maximum Deferred Sales Charge (Load) (as a percentage of amount redeemed),
applicable to Class B shares of each Fund, as set forth on pages eight and nine
of the Prospectus, has been changed to 5.00%.
********
References to the cost of investing in Class B shares of each Fund, as indicated
in the section entitled "EXAMPLE" on page 10 of the Prospectus, should be
replaced with the following:
If you redeemed your investment at the end of the periods indicated:
1 Year 3 Years 5 Years 10 Years
BLUE CHIP GROWTH FUND
(Class B shares)* .............. $ 712 $ 955 $1,324 $2,252
GROWTH OPPORTUNITIES FUND
(Class B shares)* .............. 713 958 1,329 2,260
NEW CENTURY FUND
(Class B shares)* .............. 710 949 1,313 2,234
GROWTH AND INCOME FUND
(Class B shares)* .............. 710 949 1,313 2,239
BALANCED ASSETS FUND
(Class B shares)* .............. 709 946 1,308 2,231
"DOGS" OF WALL STREET FUND
(Class B shares)* .............. 663 805 1,071 1,726
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If you did not redeem your shares:
1 Year 3 Years 5 Years 10 Years
BLUE CHIP GROWTH FUND
(Class B shares)* .............. $ 212 $ 655 $1,124 $2,252
GROWTH OPPORTUNITIES FUND
(Class B shares)* .............. 213 658 1,129 2,260
NEW CENTURY FUND
(Class B shares)* .............. 210 649 1,113 2,234
GROWTH AND INCOME FUND
(Class B shares)* .............. 210 649 1,113 2,239
BALANCED ASSETS FUND
(Class B shares)* .............. 209 646 1,108 2,231
"DOGS" OF WALL STREET FUND
(Class B shares)* .............. 163 505 871 1,726
* Class B shares generally convert to Class A shares approximately eight years
after purchase as described in the section entitled "Shareholder Account
Information" on page 14. Therefore, expense information for years 9 and 10 is
the same for both Class A and B shares.
*********
Under the section entitled "SELECTING A SHARE CLASS" on page 14 of the
Prospectus, the fourth paragraph under the section of the Class B column should
be replaced in its entirety with the following:
Automatic conversion to Class A shares approximately eight years
after purchase.
*********
Under the section "CALCULATION OF SALES CHARGES" on page 14 of the Prospectus,
the third paragraph should be replaced in its entirety with the following:
CLASS B shares are offered at their net asset value per share,
without any initial sales charge. However, there is a CDSC on
shares you sell within six years of buying them. The longer
the time between the purchase and the sale of shares, the
lower the rate of the CDSC:
2
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Class B deferred charges:
Years after purchase CDSC on shares being sold
1st year 5.00%
2nd year 4.00%
3rd year or 4th year 3.00%
5th year 2.00%
6th year 1.00%
7th year and thereafter None
Dated: December 6, 2000
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