CONSULTING GROUP CAPITAL MARKETS FUNDS (the "Trust")
The following information supplements the disclosure in the
Prospectus of the Trust. Defined terms have the same meanings as
set forth in the Prospectus.
Supplement dated July 13, 2000 to the Prospectus
dated December 28, 1999
On June 13, 2000 the Trust's Board of Trustees approved the
following:
? The hiring of Westfield Capital Management Company, Inc.
("Westfield") as an additional investment adviser to Small
Capitalization Growth Investments ("Small Cap Growth
Portfolio"). The Consulting Group, a division of SSB Citi Fund
Management LLC ("SSB Citi), recommended Westfield as an
additional adviser because it was determined that their
investment style would further diversify the "active" portion
of the Small Cap Growth Portfolio. The hiring of Westfield
resulted in the Small Cap Growth Portfolio entering into an
investment advisory agreement effective July 6, 2000 between
SSB Citi and Westfileld. Under the terms of the agreement,
Westfield will be receiving a fee of 0.50% that is computed
daily and paid monthly based on the value of the average net
assets of the Small Cap Growth Portfolio allocated to
Westfield. Westfield, located in Boston, Massachusetts, was
founded in 1989 and currently manages approximately $2.1
billion in assets. With the hiring of Westfield, the structure
of the Small Cap Growth Portfolio will be as follows: Mellon
Capital Management 40%, Wall Street Associates 20%, Kern
Capital Management 15%, Westpeak Investment Advisors 15% and
Westfield 10%.
Shareholders of the Small Cap Growth Portfolio will soon receive
an information statement regarding this change.
On June 13, 2000 the Trust's Board of Trustees also approved the
following:
? A change in the allocation of the assets of the Large
Capitalization Value Equity Investments ("Large Cap Value
Portfolio"). The Large Cap Value Portfolio's assets will be
allocated as follows: Barclays Global Fund Advisors 50%, the
Boston Company Asset Management 20%, Chartwell Investment
Partners 20% and Parametric Portfolio Associates 10%.
TK 2088S4
