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[LOGO]
G.T. GLOBAL THEME FUNDS
SUPPLEMENT TO PROSPECTUS DATED
MARCH 1, 1995
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The following information supersedes and replaces the description of the Funds'
portfolio management team contained in the section of the Funds' Prospectus on
page 46 entitled "Management":
"The investment professionals primarily responsible for the portfolio management
of the Funds are as follows:
GLOBAL FINANCIAL SERVICES PORTFOLIO
<TABLE>
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RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE PORTFOLIO PAST FIVE YEARS
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<S> <C> <C>
A. James Ellman Portfolio Manager since Analyst for G.T. Capital from 1994 to 1995. From 1992 to 1994, Mr.
San Francisco 1995 Ellman was a student at the Harvard Graduate School of Business
Administration (where he received a Masters of Business
Administration). From 1990 to 1992, Mr. Ellman was employed by the
Federal Reserve Bank of New York as an international bank examiner.
GLOBAL INFRASTRUCTURE PORTFOLIO
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE PORTFOLIO PAST FIVE YEARS
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<S> <C> <C>
David L. Sherry Portfolio Manager since Portfolio Manager for G.T. Capital since 1993. From 1992 to 1993, Mr.
San Francisco Portfolio inception in Sherry was Senior Securities Analyst for Franklin Resources, Inc. (San
1994 Mateo, CA). From 1990 to 1992, he was a student at University of
California at Los Angeles Graduate School of Business (where he
received a Masters of Business Administration.) Prior thereto, he was
an Assistant Treasurer with Brown Brothers Harriman (NY).
Michael Mahoney Portfolio Manager since Portfolio Manager for G.T. Capital since 1993. From 1991 to 1993, Mr.
San Francisco Portfolio inception in Mahoney was an Investment Analyst for G.T. Capital. From 1989 to 1991,
1994 he was a student at Stanford Graduate School of Business (where he
received a Masters of Business Administration). Prior thereto, he was
a Management Consultant for Bain & Co., management consulting
(Boston).
</TABLE>
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GLOBAL NATURAL RESOURCES PORTFOLIO
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<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE PORTFOLIO PAST FIVE YEARS
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<S> <C> <C>
Charles A. Wall Portfolio Manager since Portfolio Manager for G.T. Management (Australia) Ltd. and G.T. Capital
Sydney Portfolio inception in since 1992. Prior thereto, Mr. Wall was a Portfolio Manager for Baring
1994 Securities (Sydney).
Derek H. Webb Portfolio Manager since Analyst for G.T. Capital from 1992 to 1994. From 1990 to 1992, Mr. Webb
San Francisco Portfolio inception in was a student of the University of Pennsylvania, Wharton School of
1994 Business. During 1989, he was Vice President, Citicorp Investment Bank
of Los Angeles. Prior thereto, he was a Bond Trader, Trust Co. of the
West (Los Angeles).
GLOBAL CONSUMER PRODUCTS AND SERVICES PORTFOLIO
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE PORTFOLIO PAST FIVE YEARS
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<S> <C> <C>
Derek H. Webb Portfolio Manager since Analyst for G.T. Capital from 1992 to 1994. From 1990 to 1992, Mr. Webb
San Francisco Portfolio inception in was a student of the University of Pennsylvania, Wharton School of
1994 Business. During 1989, he was Vice President, Citicorp Investment Bank
for Los Angeles. Prior thereto, he was a Bond Trader, Trust Co. of the
West (Los Angeles).
GLOBAL HEALTH CARE FUND
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE FUND PAST FIVE YEARS
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<S> <C> <C>
Edward R. Gomoll Portfolio Manager since Portfolio Manager for G.T. Capital.
San Francisco Fund inception in 1989
Michael Yellen Research Analyst since Research Analyst for G.T. Capital since 1994. From 1991 to 1994, Mr.
San Francisco 1994 Yellen was a securities analyst and co-portfolio manager for Franklin
Resources, Inc. (San Mateo, CA). Prior thereto, Mr. Yellen was a
student at Stanford University, where he received a Bachelor's Degree
in International Relations.
GLOBAL TELECOMMUNICATIONS FUND
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE FUND PAST FIVE YEARS
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<S> <C> <C>
Michael Mahoney Portfolio Manager since From 1991 to 1993, Mr. Mahoney was an Investment Analyst for G.T.
San Francisco 1993 Capital. From 1989 to 1991, he was a student at Stanford Graduate
School of Business (where he received a Masters of Business
Administration). Prior thereto, he was a Management Consultant for
Bain & Co., management consulting (Boston).
David L. Sherry Portfolio Manager since Portfolio Manager for G.T. Capital since 1993. From 1992 to 1993, Mr.
San Francisco 1993 Sherry was Senior Securities Analyst for Franklin Resources, Inc. (San
Mateo, CA). From 1990 to 1992, he was a student at University of
California at Los Angeles Graduate School of Business (where he
received a Masters of Business Administration). Prior thereto, he was
an Assistant Treasurer with Brown Brothers Harriman (NY)."
</TABLE>
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On page 53, under "Other Information -- Confirmations and Reports to
Shareholders," the following information should be inserted immediately prior to
the last sentence of the paragraph: "Under certain circumstances, duplicate
mailings of such reports to the same household may be consolidated."
The following revisions have been made relating to the eligibility requirements
for investing in Advisor Class shares of each of the G.T. Global Theme Funds.
On page 16, under "Alternative Purchase Plan -- Advisor Class Shares," section
(b) is amended to read "any account with assets of at least $25,000 if (i) a
financial planner, trust company... ," and section (c) is amended to read "any
account with assets of at least $25,000 if (i) such account is established under
a 'wrap fee' program... ." The rest of the qualifications in (b) and (c) and the
other eligible groups described under sections (a), (d) and (e) in that
paragraph remain unchanged.
Under "Other Information -- Custodian and Accounting Agent," it should be noted
that effective July 1, 1995, G.T. Capital serves as each Fund's pricing and
accounting agent. The monthly fee for these services to G.T. Capital is a
percentage, not to exceed 0.03% annually, of the Fund's average daily net
assets. The annual fee rate is derived by applying 0.03% to the first $5 billion
of assets of all registered mutual funds advised by G.T. Capital ("G.T. Funds")
and 0.02% to the assets in excess of $5 billion and dividing the result by the
aggregate assets of the G.T. Funds.
THESU510120MC October 20, 1995
