CONSULTING GROUP CAPITAL MARKETS FUNDS (the "Trust")
Supplement dated January 3, 2000 to the
Prospectus dated December 28, 1999
On December 1, 1999 the Trust's Board of Trustees approved the
following:
? The termination of Marvin & Palmer Associates, Inc. ("M&P") as
an investment adviser to International Equity Investments
("International Equity Portfolio"). M&P will be replaced with
Scudder Kemper Investments, Inc. ("Scudder"). Scudder will
seek the International Equity Portfolio's investment objective
of capital appreciation by utilizing a bottom-up stock
selection process, supplemented by a conceptual framework of
long-term trend, country and macroeconomic analyses. Pursuant
to an investment advisory agreement entered into between the
Trust's Manager, SSB Citi Fund Management LLC ("SSB Citi") and
Scudder, Scudder will receive 0.45% on the first $300 million
and 0.40% thereafter, a fee that is computed daily and paid
monthly based on the value of the average net assets of the
International Equity Portfolio allocated to Scudder. Scudder,
located in New York, New York is an affiliate of Zurich
Insurance Company and currently manages approximately $290
billion in assets. With the hiring of Scudder, the allocation
of assets of the International Equity Portfolio will be as
follows: State Street Global Advisors 40%; Oechsle
International Advisors, LLC 30%; and Scudder 30%.
Shareholders of the International Equity Portfolio will soon
receive an information statement regarding this change.
TK
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