Fremont Mutual Funds, Inc.
Supplement dated November 30, 2000
to the
Prospectus dated February 10, 2000
FREMONT GLOBAL FUND:
Effective September 5, 2000, William Powers, Managing Director, assumed
management responsibilities for the portfolio of the Fremont Global Fund managed
by Sub-Advisor, Pacific Investment Management Company (PIMCO). Mr. Powers is a
senior member of PIMCO's portfolio management and investment strategy groups and
has been employed by PIMCO for over 10 years.
FREMONT EMERGING MARKETS FUND:
Effective November 21, 2000, BDT Investment Management Limited (BDT Invest)
became sub-advisor to the Fremont Emerging Markets Fund.
Henry Thornton, co-founder and CEO of BDT Invest, has managed the Fund since its
inception in June 1996. He has over 15 years of experience investing in Asian
and Emerging Market securities.
Prior to co-founding BDT Invest in June 2000, Mr. Thornton was employed as a
portfolio manager by the Fund's previous sub-advisor, CMG First State (Hong
Kong) LLC. As a result of a series of corporate acquisitions, three different
firms: CMG First State (Hong Kong) LLC (1999-2000); Nicholas-Applegate Capital
Management (Hong Kong) (1997-1999); and Credit Lyonnais International Asset
Management (HK) Limited (1996-1997) have served as sub-advisor to the Fund since
its inception in 1996. Mr. Thornton was an employee of each sub-advisor and was
responsible for management of the Fund.
FREMONT U.S. MICRO-CAP FUND:
Effective March 10, 2000, the Fremont U.S. Micro-Cap Fund was closed to new
investors. Shareholders who owned shares of the Fund as of March 10, 2000, may
purchase additional shares in their existing accounts. Financial advisors and
institutions that have existing client assets in the Fund may add to their
client accounts as well as open new accounts for other clients. Fremont
Investment Advisors, Inc., as the advisor of the Fund, may reopen and close the
Fund to certain types of new investors in the future.
After March 10th, shareholders that own other Fremont Mutual Funds may not
exchange these shares into the Fremont U.S. Micro-Cap Fund unless they have an
existing Fremont U.S. Micro-Cap Fund account.
