THE TRUST FOR TRAK INVESTMENTS
Supplement to the Prospectus dated
January 1, 1994
The following information modifies the disclosure in the Prospectus of
The Trust for TRAK Investments (the "Trust") under "Management of the Trust":
At a Special Meeting of Shareholders held on March 3, 1994 (the
"Shareholders Meeting"), shareholders of Large Capitalization Value Equity
Investments ("Large Capitalization Value"), a series of the Trust, approved an
Amended and Restated Investment Advisory Agreement (the "Newbolds Agreement")
between the Consulting Group of Smith, Barney Advisers Inc. (the "Manager")
and Newbold's Asset Management, Inc. ("Newbolds"), Large Capitalization
Value's current investment adviser. The shareholders also approved a new
Investment Advisory Agreement (the "Parametric Agreement") between Parametric
Portfolio Associates, Inc. ("Parametric") and the Manager. The Newbolds
Agreement is identical to the current investment advisory agreement with
Newbolds, including with respect to the payment by the Manager of an annual
fee to Newbolds equal to the value of 0.30% of the average daily net assets of
Large Capitalization Value managed by Newbolds, except that such Agreement
provides that Newbolds will be the co-investment adviser, rather than the sole
investment adviser, of Large Capitalization Value. Pursuant to the Parametric
Agreement, Parametric will manage a portion of the assets of Large
Capitalization Value for an annual fee equal to 0.20% of the average daily net
assets of Large Capitalization Value on the first $300 million of assets
managed by Parametric and 0.15% of the value of Large Capitalization Value's
average daily net assets thereafter managed by Parametric.
At the Shareholders Meeting, the shareholders of Large Capitalization
Growth Investments ("Large Capitalization Growth"), a series of the Trust,
approved an Amended and Restated Investment Advisory Agreement (the "Provident
Agreement") between the Manager and Provident Investment Counsel, the current
investment adviser to Large Capitalization Growth, and approved a new
investment advisory agreement (the "Boston Structured Agreement") between
Boston Structured Advisors ("Boston Structured") and the Manager. The
Provident Agreement is identical to the current investment advisory agreement
with Provident, including with respect to the payment by the Manager of an
annual fee to Provident equal to the value of 0.30% of the average daily net
assets of Large Capitalization Growth managed by Provident, except that such
Agreement provides that Provident will be the co-investment adviser, rather
than the sole investment adviser, of Large Capitalization Growth. Pursuant to
the Boston Structured Agreement, Boston Structured will manage a portion of
the assets of Large Capitalization Growth for an annual fee equal to 0.20% of
the average daily net assets of Large Capitalization Growth on the first $300
million of assets managed by Boston Structured and 0.15% of the value of Large
Capitalization Growth's average daily net assets thereafter managed by Boston
Structured
The Board of Trustees of the Trust has approved an allocation of 80% of
Large Capitalization Value's assets to Parametric for management and 20% of
such assets to Newbolds for management and has approved an allocation of 80%
of Large Capitalization Growth's assets to Boston Structured for management
and 20% of such assets to Provident for management. It is anticipated that
Parametric and Boston Structured will assume their respective management
duties as of March 21, 1994.
The Manager is paid a fee with respect to each of Large Capitalization
Value and Large Capitalization Growth equal on an annual basis to 0.60% of the
Portfolios' average daily net assets and the fees payable to each of the
investment advisers listed above are paid by the Manager. The Manager has
agreed to permanently waive a portion of the fees it would otherwise receive
so that the Manager will retain no more than 0.30%. Accordingly, the
reduction in investment advisory fees payable to Parametric and Boston
Structured with respect to the assets of Large Capitalization Value and Large
Capitalization Growth, respectively, will be passed through to the respective
Portfolios and the aggregate fees payable by the Portfolios therefore will be
reduced.
Parametric is an investment adviser registered under the Investment
Advisers Act of 1940, as amended (the "Advisers Act"), and as of February 28,
1994, it had assets under management of approximately $1.39 billion.
Parametric is wholly owned by Pacific Financial Asset Management Company,
which is an indirect wholly-owned subsidiary of Pacific Mutual Life Insurance
Company. Parametric's principal offices are located at 7310 Columbia Center,
701 Fifth Avenue, Seattle, Washington 98104-7090.
Boston Structured is a division of PanAgora Asset Management, Inc.
("PanAgora Boston"), which is an investment adviser registered under the
Advisers Act, and is both a commodity trading adviser and a commodity pool
operator registered under the Commodity Exchange Act. As of February 28,
1994, PanAgora Boston had assets under management of approximately $13
billion. PanAgora Boston was formed on September 22, 1989 as a wholly-owned
subsidiary of The Boston Company Inc. and was incorporated in Delaware.
PanAgora Boston is presently owned 50% by Nippon Life Insurance Company and
50% by Lehman Brothers Holdings, Inc. Boston Structured's principal offices
are located at 260 Franklin Street, Boston, Massachusetts 02110.
Dated: March 3, 1994
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