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 February 14, 2000 to the Prospectus dated
December 28, 1999
On January 26, 2000 the Trust's Board of Trustees approved the
following:
? The hiring of TCW Investment Management Company ("TCW") as an
additional investment advisor to Large Capitalization Growth
Investments ("Large Capitalization Growth Portfolio"). The
Consulting Group, a division of SSB Citi Fund Management LLC
("SSB Citi), recommended TCW as an additional advisor because
it was determined that their investment style would further
diversify the "active" portion of the Large Capitalization
Growth Portfolio. TCW will invest in securities attempting to
participate in the long-term success of selected extraordinary
businesses purchased at attractive valuations. The hiring of
TCW has resulted in the entering into of an investment
advisory agreement effective February 14, 2000 between SSB
Citi and TCW. Under the terms of the agreement, TCW will be
receiving a fee of 0.40% on the first $500 million and 0.35%
in excess of $500 million that is computed daily and paid
monthly based on the value of the average net assets of the
Large Capitalization Growth Portfolio allocated to TCW. TCW,
located in Los Angeles, California, was founded in 1971 and
currently manages approximately $55 billion in assets. With
the hiring of TCW, the structure of the Large Capitalization
Growth Portfolio will be as follows: Barclays Global Fund
Advisors 60%; Provident Investment Counsel 20%; and TCW 20%.
? The hiring of Metropolitan West Asset Management Company
("Metropolitan West") as an additional investment advisor to
Intermediate Fixed Income Investments ("Intermediate Fixed
Income Portfolio"). The Consulting Group, a division of SSB
Citi, recommended Metropolitan West as an additional advisor
because it was determined that their investment style would
further diversify the "active" portion of the Intermediate
Fixed Income Portfolio. Metropolitan West will employ
investment techniques which utilize duration management, yield
curve management and sector management. The hiring of
Metropolitan West has resulted in the entering into of an
investment advisory agreement effective February 14, 2000
between SSB Citi and Metropolitan West. Under the terms of
the agreement, Metropolitan West will be receiving a fee of
0.20% that is computed daily and paid monthly based on the
value of the average net assets of the Intermediate Fixed
Income Portfolio allocated to Metropolitan West. Metropolitan
West, located in Los Angeles, California, was founded in 1996
and currently manages approximately $5 billion in assets. With
the hiring of Metropolitan West, the structure of the
Intermediate Fixed Income Portfolio will be as follows:
Standish, Ayer 40%; Pacific Investment Management Company 40%;
and Metropolitan West 20%.
Shareholders of the Large Capitalization Growth Portfolio and
Intermediate Fixed Income Portfolio will soon receive an
information statement regarding these changes.
TK 2088S1
