Fremont Mutual Funds, Inc.
Supplement dated September 19, 1997
to Prospectus dated March 1, 1997
The Advisor to the Emerging Markets Fund has voluntarily waived its advisory fee
and absorbed all other operating expenses since the Fund's commencement of
operations on June 24, 1996. Beginning September 19, 1997, the Advisor will no
longer waive all fees and expenses of the Fund. The Fund will remain subject to
a voluntary annual expense limitation of 1.50% of average net assets.
As of September 19, 1997, the Annual Fund Operating Expenses (as a percentage of
net assets) are estimated as follows:
Management 12b-1 Other Total Fund
Fee Fees Expenses Operating Expenses
--- ---- -------- ------------------
Emerging Markets
Fund 1.00% 0.25% 0.25% 1.50%
The Advisor has voluntarily limited total annual operating expenses to 1.50% of
average net assets. Without this limitation, the management fee, 12b-1 fee,
other expenses and total operating expenses would be 1.00%, 0.25%, 0.70% and
1.95%, respectively.
