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VAN KAMPEN GLOBAL GOVERNMENT SECURITIES FUND
A SERIES OF THE
VAN KAMPEN WORLD PORTFOLIO SERIES TRUST
SUPPLEMENT DATED JANUARY 31, 2000
TO THE PROSPECTUS DATED SEPTEMBER 28, 1999,
SUPERCEDING THE SUPPLEMENT DATED JANUARY 11, 2000
(1) The Prospectus is supplemented with the following:
The Board of Trustees has continuously reviewed the investment
policies and practices, performance, expenses and reduced net assets of the
Van Kampen Global Government Securities Fund (the "Fund"). In connection
therewith, the Board considered various alternatives including a possible
merger or liquidation of the Fund. After due consideration of a number of
factors, including those listed above, the Board determined that it would
be in the best interest of the shareholders to terminate and liquidate the
Fund. On January 27, 2000, the Board approved a Plan of Liquidation for the
Fund. The Plan of Liquidation will be presented to the shareholders of the
Fund for approval. As a result of the Board's approval, the Fund is
suspending the continuous offering of its shares to new investors of the
Fund effective at the close of business February 2, 2000. Currently,
existing shareholders of the Fund as of February 2, 2000 may continue to
purchase shares of the Fund. Dividends subject to automatic reinvestment in
the Fund according to previous instructions of existing shareholders will
continue to be reinvested in shares of the Fund.
(2) The Prospectus is supplemented with the following:
The section of the Prospectus entitled "INVESTMENT ADVISORY SERVICES -
PORTFOLIO MANAGEMENT" is hereby deleted and replaced in its entirety with
the following:
PORTFOLIO MANAGEMENT. The Fund is managed by J. David Germany, Michael
B. Kushma and Paul F. O'Brien and they have
been primarily responsible for the Fund's day-to-day management since April
1, 1997. Christian G. Roth has shared primary responsibility for the Fund's
day-to-day management since September 1, 1998. David Stanley has shared
primary responsibility for the Fund's day-to-day management since January
1, 2000.
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Mr. Germany joined the Subadviser in 1996 and has been a portfolio manager
with the Adviser's affiliate, Miller Anderson & Sherrerd, LLP ("MAS") since
1991. He was Vice President and Senior Economist for Morgan Stanley Dean Witter
& Co. from 1989 to 1991. He assumed responsibility for the Global Fixed Income
and International Fixed Income Portfolios of the MAS-advised MAS Institutional
Funds in 1993 and the MAS Funds' Multi-Asset-Class Portfolio in 1994. Mr.
Germany was Senior Staff Economist (International Finance and Macroeconomics) to
the Council of Economic Advisors--Executive Office of the President from 1986
through 1987 and an Economist with the Board of Governors of the Federal Reserve
System--Division of International Finance from 1983 through 1987. He holds an
A.B. (Valedictorian) from Princeton University and a Ph.D. in Economics from the
Massachusetts Institute of Technology.
Mr. Kushma, a Principal at Morgan Stanley Dean Witter & Co., joined the
firm in 1987. He was a member of Morgan Stanley Dean Witter & Co.'s global fixed
income strategy group in the fixed income division from 1987 to 1995 when he
became the division's senior government bond strategist. He joined the
Subadviser in 1995 where he took responsibility for the global fixed income
portfolio. Mr. Kushma received an A.B. in economics from Princeton University in
1979, an M.Sc. in economics from the London School of Economics in 1981, and an
M.Phil. in economics from Columbia University in 1983.
Mr. O'Brien joined the Subadviser and MAS in 1996. He was head of European
Economics from 1993 through 1995 for JP Morgan and Principal Administrator from
1991 through 1992 for the Organization for Economic Cooperation and Development.
He assumed responsibility for the MAS-advised MAS Funds' Global Fixed Income and
International Fixed Income Portfolios in 1996. Mr. O'Brien holds a B.S. from the
Massachusetts Institute of Technology and a Ph.D. in Economics from the
University of Minnesota.
Mr. Roth joined MAS in 1991 and is a Principal of Morgan Stanley Dean
Witter & Co. He has been a Portfolio Manager with MAS since 1993. Prior to
joining MAS, Mr. Roth served as a Senior Associate in the Merchant Banking Group
of Dean Witter Capital Corporation. Mr. Roth received a B.S. from the Wharton
School of Business at the University of Pennsylvania. He is a Chartered
Financial Analyst and a member of the Financial Analysts of Philadelphia.
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Mr. Stanley joined the Subadviser in 1994 as a Fixed Income Manager. He
became a Vice President of the Subadviser in 1997. Mr. Stanley was previously
employed by Aetna Capital Management International where he had sole
responsibility for managing all European and Global bond funds. Previously, he
spent over five years at Marine and General Mutual Life Assurance Society, where
he managed Sterling and Global bond funds. He graduated from Manchester
University. He is individually registered in the United Kingdom with the
Investment Management Regulatory Organization (IMRO).
(3) The section of the inside back cover of the Prospectus entitled BOARD
OF TRUSTEES AND OFFICERS - BOARD OF TRUSTEES is hereby supplemented by deleting
Richard M. DeMartini* and Don G. Powell* and adding Mitchell M. Merin* and
Richard F. Powers, III*, effective December 15, 1999.
* "Interested Persons" of the Fund, as defined in the Investment Company
Act of 1940, as amended.
