CONSULTING GROUP CAPITAL MARKETS FUNDS (the "Trust")
Supplements to the Prospectus dated March 18, 1994
The following information supplements the disclosure found on page 15 of the
Prospectus of the Trust under "Objectives and Policies of the Portfolios:"
Among the debt instruments that Balanced Investments Portfolio may purchase
are mortgage-backed securities, provided that such securities are rated within
the four highest categories established by Moody's Investor Service, Inc. or
Standard & Poor's Corporation or, if unrated, are determined by the
Portfolio's investment adviser to be of comparable quality.
Net asset value per share is determined for each of the Portfolios, including
Emerging Markets Equity Investments, as of the close of trading on the New
York Stock Exchange and is computed by dividing the value of a Portfolio's net
assets by the total number of its shares outstanding.
The following information updates the disclosure found on page 16 of the
Prospectus under "Objectives and Policies of the Portfolios- Small
Capitalization Value Equity Investments."
It is currently anticipated that Thorsell, Parker Partners Inc. will manage
between 10% and 50% of the Portfolio's current and future assets, and that NFJ
Investment Group Inc. will manage between 50% and 90% of the Portfolios
current and future assets. The Trust's Board of Directors may, upon the
advice of the Consulting Group, reallocate the management of the Portfolios
assets between the investment advisers in its discretion from time to time.
The following information updates the disclosure found on page 34 of the
Prospectus of the Trust under "Management of the Trust:"
Effective June 2, 1994, Smith, Barney Advisers, Inc. ("Smith Barney Advisers")
will serve as the Trust's administrator and The Boston Company Advisors, Inc.
("Boston Advisors") will serve as the Trust's sub-administrator. On June 2,
1994, the Trust's Board of Trustees approved a new administration agreement
with Smith Barney Advisers containing substantially the same terms and
conditions, including the level of fees, as the current agreement. Smith
Barney Advisers, among other responsibilities, provides senior executive
management for the Trust and generally oversees and directs all aspects of the
Trust's administration and operation. The Board also approved a sub-
administration agreement with Boston Advisors. Boston Advisors, among other
responsibilities, calculates the net asset value of the Trust's shares of each
Portfolio of the Trust and generally assists in various aspects of the Trust's
administration and operation. Under the arrangements, Boston Advisors will be
paid a portion of the amount paid by the Fund to Smith Barney Advisers at a
rate as agreed upon from time to time between Smith Barney Advisers and Boston
Advisors.
The following information updates the disclosure found on page 36 of the
Prospectus of the Trust under "Purchase of Shares:"
Minimum Investment. The minimum initial investment in the Trust, including
Plans, is $10,000 and the minimum investment in any individual Portfolio is
$100. Employees of Smith Barney, accounts of their immediate families and
individual retirement accounts and certain employee pension benefit plans for
those persons will be subject to a $5,000 minimum investment. The Trust
reserves the right at any time to vary the initial and subsequent investment
minimums.
Dated: September 22, 1994
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