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GT GLOBAL EMERGING MARKETS FUND
GT GLOBAL LATIN AMERICA GROWTH FUND
SUPPLEMENT TO PROSPECTUS DATED MARCH 1, 1997
SUPPLANTING SUPPLEMENT DATED JUNE 16, 1997
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THE FOLLOWING REVISES AND SUPERSEDES THE DISCUSSION UNDER "HOW TO INVEST --
PURCHASING CLASS A SHARES" WITH RESPECT TO GT GLOBAL EMERGING MARKETS FUND
("EMERGING MARKETS FUND") AND GT GLOBAL LATIN AMERICA GROWTH FUND ("LATIN
AMERICA FUND"):
As of August 1, 1997, the Class A share sales charge waiver described under
section (xiii) of "Sales Charge Waivers -- Class A Shares" is no longer
available.
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.
Upon redemption, Class B shares of a Fund that were acquired pursuant to the
exchange privilege during a tender offer by GT Global Floating Rate Fund
("Floating Rate Fund") will be subject to a contingent deferred sales charge
equivalent to the early withdrawal charge on the common stock of the Floating
Rate Fund, as set forth in the current prospectus for the Floating Rate Fund.
The purchase of shares of a Fund will be deemed to have occurred at the time of
the initial purchase of the Floating Rate Fund's common stock.
THE FOLLOWING REVISES AND SUPERSEDES, AS APPLICABLE, THE DISCUSSION UNDER
"MANAGEMENT" WITH RESPECT TO EACH FUND:
Allan Conway and Christine Rowley are the Portfolio Managers for the Emerging
Markets Fund. Mr. Conway joined Chancellor LGT Asset Management, Inc. (the
"Manager") and LGT Asset Management PLC (London) ("LGT Asset Management"), an
affiliate of the Manager, in January 1997 as Head of the Global Emerging Markets
Equity team. 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 ("Hermes"), and from 1982
to 1992 was a Portfolio Manager, and eventually 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.
Allan Conway, Hugh Hunter, Darren Read, Christine Rowley and Mark Thorogood --
all members of the Manager's Global Emerging Markets Equity team -- are
Portfolio Managers for the Latin America Fund. Mr. Hunter has been a Portfolio
Manager for the Manager and LGT Asset Management since June 1997. From 1987 to
1997, he was Head of Quantitative Emerging Strategy at ING-Barings (Hong Kong)
("Barings"). Mr. Read has been a Portfolio Manager for the Manager since May
1997. From 1995 to 1997, Mr. Read was a Senior Investment Analyst at Hermes
responsible for stock selection in a number of emerging markets and strategic
asset allocation input. Prior thereto, Mr. Read was a Chartered Accountant in
the Financial Markets Division of Arthur Andersen from 1991 to 1995. Mr.
Thorogood joined the Manager and LGT Asset Management in May 1997 as a Portfolio
Manager. Prior thereto, he worked for Barings from 1994 to 1997 as a proprietary
Trader. From 1987 to 1994, Mr. Thorogood was at Provident Mutual, first as an
Analyst, and then as a Portfolio Manager covering the Japanese and Asian Equity
Markets.
[LOGO]
LEMST708033M August 6, 1997
