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Nicholas-Applegate Fund, Inc.
Nicholas-Applegate Growth Equity Fund
Supplement dated February 9, 1998
to Prospectus dated March 4, 1997
How the Fund is Managed--Investment Adviser
The Fund is managed under the general supervision of Arthur E. Nicholas (who has
been the Chief Investment Officer of the Investment Adviser since its
organization) and Catherine Somhegyi, the Investment Adviser's Chief Investment
Officer-Global Equity, who has been employed by the Investment Adviser since
1987. A team management approach is utilized in connection with the day-to-day
management of the Fund's portfolio. The members of the team are Andrew B.
Gallagher, Maren Lindstrom and Thomas J. Sullivan. Mr. Gallagher has been
employed by Nicholas-Applegate Capital Management since 1992. Ms. Lindstrom has
been employed by Nicholas-Applegate Capital Management since 1994; prior
thereto, she was employed by Societe Generale, Banque D Orsay and Prudential
Asset Management. Mr. Sullivan has been employed by Nicholas-Applegate Capital
Management since 1994; prior thereto, he was employed by Donaldson, Lufken &
Jenrette Securities Corporation.
MF151A-1
