CONSULTING GROUP CAPITAL MARKETS FUNDS (the "Trust")
to Shareholders of
Small Capitalization Value Equity Investments
and
Emerging Markets Equity Investments
Supplement dated February 9, 1996 to the Prospectus dated January 1, 1996
On December 14, 1995, the Board of Trustees approved a new advisory agreement
with the successor entity to Wells Fargo Nikko Investment Advisors ("WFNIA"),
adviser to a portion of the assets of Small Capitalization Value Equity
Investments. The Board's action was necessitated by the anticipated sale of
WFNIA to Barclays Bank PLC ("Barclays"). The new advisory agreement is
identical in all material respects and there is no change in fees with respect
to the management of the assets. Further, the Board of Trustees was assured
there would be no dilution in the scope and quality of advisory services. The
sale of WFNIA to Barclays has been completed and the successor entity, BZW
Barclays Global Fund Advisors, is now responsible for the day to-to-day
management of a portion of the Portfolio's assets.
On December 14, 1995 the Board of Trustees approved a new advisory agreement
with the successor entity to John Govett & Co. Limited ("JG&C"), adviser to
the assets of Emerging Markets Equity Investments. The Board's action was
necessitated by the anticipated sale of JG&C to Allied Irish Bank PLC
("AIB").The new Advisory agreement is identical in all material respects and
there is no change in fees with respect to the management of the assets.
Further, the Board of Trustees was assured there would be no dilution in the
scope and quality of advisory services. The sale of JG&C to AIB has been
completed and the successor entity (which has retained its previous corporate
name) is now responsible for the day-to-day management of the Portfolio.
