<PAGE>
[LOGO]
G.T. GLOBAL THEME FUNDS:
ADVISOR CLASS
SUPPLEMENT TO PROSPECTUS DATED
MARCH 1, 1995, AS REVISED JUNE 1, 1995
- --------------------------------------------------------------------------------
The following revisions have been made relating to the (1) eligibility
requirements for investing in Advisor Class shares of each of the G.T. Global
Theme Funds, and (2) involuntary redemption of such shares.
On page 3, under "Prospectus Summary -- Advisory Class Shares," and on page 30,
under "How to Invest -- General," section (b) is amended to read "any account
with assets of at least $25,000 if (i) a financial planner, trust company, bank
trust department or registered investment adviser has investment discretion over
such account, and (ii) the account holder pays such person as compensation for
its advice and other services an annual fee of at least .50% on the assets in
the account;" 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 and
(ii) the account holder pays the sponsor of such program an annual fee of at
least .50% on the assets in the account." The other eligible groups described
under sections (a), (d) and (e) in that paragraph remain unchanged.
The following information should be inserted at the end of the first paragraph
in the section of the Funds' Prospectus entitled "How To Invest" on page 30:
"Investors may be charged a fee by their agents or brokers if they effect
transactions other than through a dealer."
The minimum initial investment for each Fund is $500. Subsequent purchase
minimum is $100. On page 33, under paragraph four of the heading "Other
Important Redemption Information," the Funds and G.T. Global Financial Services,
Inc. each reserves the right to redeem the shares of any investor whose with
investment is reduced, by reason of redemptions, to less than $500 in a Fund.
Under "Other Information -- Confirmations and Reports to Shareholders" on page
43, 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."
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.
On the Advisor Class Account Application, under the heading "Fund Selection,"
the minimum initial investment has been changed to $500 per Fund.
The following information supersedes and replaces the description of the Funds'
portfolio management team contained in the section of the Funds' Prospectus on
page 37 entitled "Management":
"The investment professionals primarily responsible for the portfolio management
of the Funds are as follows:
GLOBAL FINANCIAL SERVICES PORTFOLIO
<TABLE>
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE PORTFOLIO PAST FIVE YEARS
- -------------------- --------------------- ---------------------------------------------------------------------------
<S> <C> <C>
A. James Ellman Portfolio Manager Analyst for G.T. Capital from 1994 to 1995. From 1992 to 1994, Mr. Ellman
San Francisco since 1995 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.
</TABLE>
<PAGE>
GLOBAL INFRASTRUCTURE PORTFOLIO
<TABLE>
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE PORTFOLIO PAST FIVE YEARS
- -------------------- --------------------- ---------------------------------------------------------------------------
<S> <C> <C>
David L. Sherry Portfolio Manager Portfolio Manager for G.T. Capital from 1993 to 1995. From 1992 to 1993,
San Francisco since Portfolio Mr. Sherry was Senior Securities Analyst for Franklin Resources, Inc. (San
inception in 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 Portfolio Manager for G.T. Capital since 1993. From 1991 to 1993, Mr.
San Francisco since Portfolio Mahoney was an Investment Analyst for G.T. Capital. From 1989 to 1991, he
inception in 1994 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).
GLOBAL NATURAL RESOURCES PORTFOLIO
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE PORTFOLIO PAST FIVE YEARS
- -------------------- --------------------- ---------------------------------------------------------------------------
<S> <C> <C>
Charles A. Wall Portfolio Manager Portfolio Manager for G.T. Management (Australia) Ltd. and G.T. Capital
Sydney since Portfolio since 1992. Prior thereto, Mr. Wall was a Portfolio Manager for Baring
inception in 1994 Securities (Sydney).
Derek H. Webb Portfolio Manager Analyst for G.T. Capital from 1992 to 1994. From 1990 to 1992, Mr. Webb was
San Francisco since Portfolio a student of the University of Pennsylvania, Wharton School of Business.
inception in 1994 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 CONSUMER PRODUCTS AND SERVICES PORTFOLIO
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE PORTFOLIO PAST FIVE YEARS
- -------------------- --------------------- ---------------------------------------------------------------------------
<S> <C> <C>
Derek H. Webb Portfolio Manager Analyst for G.T. Capital from 1992 to 1994. From 1990 to 1992, Mr. Webb was
San Francisco since Portfolio a student of the University of Pennsylvania, Wharton School of Business.
inception in 1994 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
- -------------------- --------------------- ---------------------------------------------------------------------------
<S> <C> <C>
Edward R. Gomoll Portfolio Manager Portfolio Manager for G.T. Capital.
San Francisco since Fund inception
in 1989
Michael Yellen Research Analyst Research Analyst for G.T. Capital since 1994. From 1991 to 1994, Mr. Yellen
San Francisco since 1994 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.
</TABLE>
<PAGE>
GLOBAL TELECOMMUNICATIONS FUND
<TABLE>
<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE FUND PAST FIVE YEARS
- -------------------- --------------------- ---------------------------------------------------------------------------
<S> <C> <C>
Michael Mahoney Portfolio Manager From 1991 to 1993, Mr. Mahoney was an Investment Analyst for G.T. Capital.
San Francisco since 1993 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 Portfolio Manager for G.T. Capital from 1993 to 1995. From 1992 to 1993,
San Francisco since 1993 Mr. 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>
October 20, 1995
THESX510021MC
