STRONG ASIA PACIFIC FUND
STRONG GLOBAL HIGH-YIELD BOND FUND
STRONG INTERNATIONAL BOND FUND
STRONG INTERNATIONAL STOCK FUND
STRONG SHORT-TERM GLOBAL BOND FUND
Supplement to Statement of Additional Information dated March 1, 1998
Effective May 22, 1998, Mr. David Lui became the portfolio manager of the
Strong International Stock Fund. The following information modifies the
existing description about portfolio management of the International Stock Fund
found on pages 51-52 of the Statement of Additional Information under the
heading "Portfolio Management - International Stock and Asia Pacific Funds."
The Strong International Stock Fund's manager selects stocks using a top-down
approach that emphasizes three key elements: country allocation, currency
management, and stock selection.
- - COUNTRY ALLOCATION-By focusing on factors such as a country's: (i) gross
domestic product ("GDP") growth rate; (ii) political landscape; (iii) market
liquidity; and (iv) fiscal and monetary environments.
- - CURRENCY MANAGEMENT-By focusing on factors such as a country's: (i) relative
interest rates; (ii) relative GDP growth rate; (iii) relative inflation rate;
and (iv) currency supply and demand.
- - STOCK SELECTION-By researching stocks through (i) information gathering
including one-on-one meetings with company senior executives; and (ii)
information analysis including use of various earnings models to identify
companies with one or more of the following attributes:
- rising revenue
- expanding operating margins
- earnings per share growth rate exceeding profits and earnings ratio
- quality management with demonstrated consistent revenue and profit
growth.
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.
The date of this Statement of Additional Information Supplement is June 25,
1998.
