Filed Pursuant to Rule 497(k)(1)(ii)
[PIE CHART WITH STOCKS EMPHASIS]
FUND PROFILE
July 22, 1998
THE STRONG FOREIGN MAJORMARKETSSM FUND
THE STRONG OVERSEAS FUND
This profile summarizes key information about the Funds that is included in the
Funds' prospectus. The Funds' prospectus includes additional information about
the Funds, including a more detailed description of the risks associated with
investing in the Funds that you may want to consider before you invest. You may
obtain the prospectus and other information about the Funds at no cost by
calling 1-800-368-3863 or visiting our web site at www.strong-funds.com.
[STRONG LOGO]
STRONG FUNDS
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WHAT ARE THE FUNDS' GOALS?
The STRONG FOREIGN MAJORMARKETSSM FUND and the STRONG OVERSEAS FUND seek
capital growth.
WHAT ARE THE FUNDS' PRINCIPAL INVESTMENT STRATEGIES?
The FOREIGN MAJORMARKETS FUND invests primarily in common stocks issued by
companies in the countries represented in the Morgan Stanley Capital
International Europe, Australasia, Far East Index (EAFE Index). The Fund's
manager employs a disciplined, quantitative approach to identify foreign stocks
that are undervalued. The manager then analyzes these stocks to make final
selections.
The manager will sell stocks when they have reached price targets or to adjust
the Fund's weighting in specific countries. To manage foreign currency risk,
the manager may hedge a portion of the Fund's exposure to currency
fluctuations.
The OVERSEAS FUND normally invests in common stocks from at least 10 foreign
countries. The Fund's manager uses a top-down approach that emphasizes three
key elements: country allocation, currency management, and stock selection. He
first identifies those areas of the world that offer above-average growth
potential, then uses extensive in-house research and in-depth analysis to pick
individual stocks within those countries.
The manager also evaluates the liquidity of a market or stock before
investing-that is, he focuses on those where the flow of investments in and out
is relatively free. As a way of controlling costs and improving shareholders'
after-tax return, the manager intends to keep turnover low. When a stock's
negative factors outweigh its positive ones, the manager may sell it.
WHAT ARE THE MAIN RISKS OF INVESTING IN THE FUNDS?
GENERAL STOCK RISKS: The Funds' major risks are those of investing in the stock
market. That means the Funds may experience sudden, unpredictable declines in
the value of their shares, as well as periods of poor performance. Because
stock values fluctuate, when you sell your investment you may receive more or
less money than you originally invested. These risks are magnified in foreign
markets.
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FOREIGN SECURITIES: The Funds invest predominantly in securities from foreign
markets. Foreign investments involve additional risks, including currency
fluctuations, political instability, differences in financial reporting
standards, and less stringent regulation of securities markets. These risks are
greater in less-established, emerging markets.
SMALLER COMPANIES: The Funds may invest a substantial portion of their assets
in the stocks of smaller-size companies. Small- and medium-size companies often
have narrower markets and more limited managerial and financial resources than
larger, more established companies. As a result, their performance can be more
volatile and they face greater risk of business failure, which could increase
the volatility of the Funds' portfolios. Generally, the smaller the company
size, the greater these risks.
These Funds are appropriate for investors who have financial goals five years
or more in the future, and who are comfortable with the risks described here.
They are not appropriate for investors concerned primarily with principal
stability.
Because the Funds began operations on June 30, 1998, they do not have any
return history.
WHAT ARE THE FUNDS' FEES AND EXPENSES?
This section describes the fees and expenses that you may pay if you buy and
hold shares of the Funds.
SHAREHOLDER FEES (fees paid directly from your investment)
The Funds are 100% no-load, so you pay no fees to buy or sell shares.
ANNUAL FUND OPERATING EXPENSES (expenses that are deducted from Fund assets)
The costs of operating each Fund are deducted from Fund assets, which means you
pay them indirectly. These costs are deducted before computing the daily share
price or making distributions. As a result, they don't appear on your account
statement, but instead reduce the amount of total return you receive. Because
the Funds began operations on June 30, 1998, the expenses other than management
fees have been estimated in the chart below.
ANNUAL FUND OPERATING EXPENSES (AS A PERCENT OF AVERAGE NET ASSETS)
<TABLE>
<CAPTION>
<S> <C> <C> <C>
FUND MANAGEMENT FEES OTHER EXPENSES TOTAL EXPENSES
- --------------- --------------- --------------- ---------------
Foreign 1.00% 1.00% 2.00%
MajorMarkets
- --------------- --------------- --------------- ---------------
Overseas 1.00% 1.00% 2.00%
- --------------- --------------- --------------- ---------------
</TABLE>
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EXAMPLE: This example is intended to help you compare the cost of investing in
the Funds with the cost of investing in other mutual funds. The example assumes
that you invest $10,000 in the Funds for the time periods indicated, and then
redeem all of your shares at the end of those periods. The example also assumes
that your investment has a 5% return each year and that the Funds' operating
expenses remain the same. Although your actual costs may be higher or lower,
based on these assumptions your costs would be:
<TABLE>
<CAPTION>
<S> <C> <C>
FUND 1 YEAR 3 YEARS
- -------------- ------- -------
Foreign $203 $627
MajorMarkets
- -------------- ------- -------
Overseas $203 $627
- -------------- ------- -------
</TABLE>
WHO ARE THE FUNDS' INVESTMENT ADVISOR AND PORTFOLIO MANAGERS?
Strong Capital Management serves as the investment advisor for the Funds.
Shirish T. Malekar manages the FOREIGN MAJORMARKETS FUND. Before joining Strong
as a portfolio manager in January 1994, he was an international bond portfolio
manager at Pacific Investment Management Company for three years. He has 11
years of investment experience.
David Lui manages the OVERSEAS FUND. Before joining Strong as a portfolio
manager in May 1998, he was an international portfolio manager at Phoenix Duff
& Phelps for three years. From 1993 to 1995, he was vice president of Asian
equities at Alliance Capital Management. He has eight years of investment
experience.
HOW CAN I BUY FUND SHARES?
There are several ways you can open a new account.
- - BY MAIL: Complete and sign the application. Make your check or money order
payable to Strong Funds. Mail it to Strong Funds, P.O. Box 2936, Milwaukee,
WI 53201.
- - BY PHONE OR BY INTERNET: If you are a current Strong Funds shareholder and
choose exchange privileges, you can exchange shares from one Strong account
to open another.
You can also open an account in person or through a broker-dealer.
The minimum initial investment is $2,500 for a regular account, $500 for an
Education IRA, and $250 for an IRA or transfer or gift to minor account. If you
establish an Automatic Investment Plan (not available for Education IRAs) of
$50 or more per month, these minimums are waived. In all cases, the minimum for
subsequent investments is $50. (For minimums on other retirement plans, call
1-800-368-2882.)
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HOW CAN I SELL FUND SHARES?
There are several ways you can sell (redeem) your Fund shares.
- - BY MAIL: You can write a letter of instruction, including your account
number, the dollar amount or number of shares you wish to redeem, each
owner's name, your street address, and the signature of each owner. Mail it
to Strong Funds, P.O. Box 2936, Milwaukee, WI 53201.
- - BY PHONE OR BY INTERNET: If you choose redemption privileges, you can sell
shares by phone or through our web site.
You can also redeem shares in person, through a systematic withdrawal plan, or
through a broker-dealer.
DO THE FUNDS PAY OUT DIVIDENDS OR CAPITAL GAINS? HOW ARE THEY TAXED?
The Funds may earn income from dividends on the stocks in their portfolios, and
may realize capital gains from appreciation on their holdings. The Funds intend
to declare income and capital gains annually.
Unless you elect otherwise, distributions of income and capital gains will be
automatically reinvested in the Fund that paid them. These distributions are
taxable regardless of whether you reinvest them or take them in cash.
Income is taxable at ordinary federal income tax rates. Capital-gains
distributions are taxed at rates based on how long the assets were held by the
Fund. After the end of each calendar year, Strong sends shareholders a
statement of the Funds' income and capital-gains distributions to assist in tax
preparation.
WHAT SERVICES DOES STRONG FUNDS PROVIDE?
Strong offers you a variety of ways to get information, monitor your
investments, and buy and sell shares.
- - Personal service 24 hours a day, 7 days a week
- - Automated telephone service
- - Online transaction services
- - Automatic investment plans
- - Payroll direct deposit
- - Retirement plans for individuals and corporations
Strong representatives can tell you more about each of these services, and can
also give you further information about buying and selling shares. Just call
1-800-368-3863 anytime, day or night.
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[PICTURE OF TELEPHONE]
To order a free prospectus kit,
call 1-800-368-1030
To learn more about our funds,
discuss an existing account,
or conduct a transaction,
call 1-800-368-3863
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If you are a
Financial Professional,
call 1-800-368-1683
[PICTURE OF STRONG WEB SITE ON COMPUTER]
Strong On-line
www.strong-funds.com
[STRONG LOGO]
STORNG FUNDS
P.O. Box 2936, Milwaukee, Wisconsin 53201
Strong Funds Distributors, Inc. 7902E98 IE798P
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