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GT GLOBAL EMERGING MARKETS FUND
GT GLOBAL LATIN AMERICA FUND
SUPPLEMENT TO PROSPECTUS DATED MARCH 1, 1997
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THE FOLLOWING SUPPLEMENTS THE DISCUSSION UNDER "HOW TO INVEST -- PURCHASING
CLASS B SHARES" WITH RESPECT TO EACH FUND:
Class B shares of a Fund may not be purchased for a Savings Incentive Match Plan
for Employees of Small Employers Individual Retirement Accounts ("SIMPLE IRAs")
for which a designated financial institution was selected by the employer on
Form 5305-SIMPLE. Class B shares of a Fund may still be purchased for SIMPLE
IRAs using Form 5304-SIMPLE. In addition, Class A shares of a Fund may still be
purchased for all SIMPLE IRAs.
THE FOLLOWING REVISES AND SUPERSEDES, AS APPLICABLE, THE DISCUSSION UNDER
"MANAGEMENT" WITH RESPECT TO GT GLOBAL EMERGING MARKETS FUND ("EMERGING MARKETS
FUND") AND GT GLOBAL LATIN AMERICA GROWTH FUND ("LATIN AMERICA FUND"):
Allan Conway and Christine Rowley have been named Portfolio Managers for the
Emerging Markets Fund. Mr. Conway joined Chancellor LGT Asset Management, Inc.
(the "Manager") and LGT Asset Management PLC (London), an affiliate of the
Manager, in January 1997 as Head of Global Emerging Markets. Based in London, he
manages a centralized team of global emerging market fund managers. From 1992 to
1997, Mr. Conway was Director of International Equities at Hermes Investment
Management, and from 1982 to 1992 was a Portfolio Manager, and eventually
overall Head of Overseas Equities, at Provident Mutual. Ms. Rowley has been a
Portfolio Manager for the Manager and LGT Asset Management Ltd. (Hong Kong), an
affiliate of the Manager, since 1992. In this position, Ms. Rowley managed Asian
emerging market portfolios and, commencing in 1997, global emerging market
portfolios. Prior thereto, Ms. Rowley was an Analyst with the Bank of England
from 1989 to 1990. James M. Bogin remains the other Portfolio Manager for the
Fund.
James M. Bogin and Andrew Boczek have been named Portfolio Managers for the
Latin America Growth Fund. Mr. Bogin has been a Portfolio Manager for the
Manager since 1993. From 1989 to 1993, Mr. Bogin was a Fund Manager at Nomura
Investment Management Co. (Tokyo). Mr. Boczek has been a Portfolio Manager and
Investment Analyst for the Manager since 1993. From 1991 to 1993, Mr. Boczek was
an Analyst at Continental Bank Corporation. Prior thereto, he was a Research
Assistant at the International Monetary Fund from 1987 to 1990. Soraya M.
Betterton remains the other Portfolio Manager for the Fund.
[LOGO]
LEMSX704002M April 28, 1997
