CONSULTING GROUP CAPITAL MARKETS FUNDS (the "Trust")
Supplement to the Prospectus dated March 18, 1994
Large Capitalization Growth Investments
On November 11, 1994, Provident Investment Counsel ("PIC"), one of
the advisers to Large Capitalization Growth Investments, announced that it
had agreed to become an autonomous wholly-owned subsidiary of United Asset
Management Corporation, a financial services holding company. As a result,
the Trustees and shareholders of the fund must approve a new advisory
agreement with PIC under its new ownership. No change in the advisory fees
or portfolio management is expected to occur as a result of the
acquisition. A proxy statement describing these matters in greater detail
will be sent to all shareholders in the near future.
Small Capitalization Value Equity Investments
On November 15, 1994, NFJ Investment Group ("NFJ") succeeded NFJ
Investment Group, Inc., formerly a wholly-owned subsidiary of Pacific
Financial Asset Management Corporation ("PFAMCo"), as an advisor to Small
Capitalization Value Equity Investments. NFJ became a subsidiary
partnership of PIMCO Advisors L.P. as part of the consolidation of the
investment advisory and other businesses of PFAMCo and certain of its
subsidiaries with Thompson Advisory Group L.P. No changes in advisory fees
or portfolio management have occurred or are expected to occur as a result
of the consolidation. A proxy statement describing these matters in
greater detail was previously sent to shareholders.
Effective November 18, 1994, the Manager and Thorsell, Parker
Partners Inc. ("Thorsell") agreed to terminate the advisory agreement under
which Thorsell served as an advisor to Small Capitalization Value Equity
Investments. As a result, effective November 18, 1994, NFJ will be the
sole adviser for Small Capitalization Value Equity Investments.
Large Capitalization Value Equity Investments
On November 15, 1994, Parametric Portfolio Associates ("Parametric")
succeeded Parametric Portfolio Associates, Inc., formerly a wholly-owned
subsidiary of PFAMCo, as an advisor to Large Capitalization Value Equity
Investments. Parametric became a subsidiary partnership of PIMCO Advisors
L.P. as part of the consolidation of the investment advisory and other
businesses of PFAMCo and certain of its subsidiaries with Thompson Advisory
Group L.P. No changes in advisory fees or portfolio management have
occurred or are expected to occur as a result of the consolidation. A
proxy statement describing these matters in greater detail was previously
sent to shareholders.
Dated: December 6, 1994
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