JULIUS BAER INVESTMENT
FUNDS
Julius Baer Global Income Fund
Julius Baer International Equity Fund
SUPPLEMENT DATED DECEMBER 8, 2000 TO THE
PROSPECTUS DATED JANUARY 31, 2000
THIS SUPPLEMENT SUPERSEDES ALL PREVIOUS SUPPLEMENTS
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FOR THE JULIUS BAER INTERNATIONAL EQUITY FUND AND THE JULIUS BAER GLOBAL INCOME
FUND
INFORMATION REGARDING A CHANGE IN INVESTMENT ADVISER TO THE FUNDS
At a shareholder meeting of the Julius Baer Investment Funds held on December
6, 2000, shareholders of each Fund approved new investment advisory agreements
between their Fund and Julius Baer Investment Management Inc. ("JBIMI") located
at 330 Madison Avenue, New York, New York 10017. The new investment advisory
agreements will become effective on January 1, 2001. Until that time, each Fund
will continue to be managed by Bank Julius Baer & Co., Ltd., New York Branch
("BJB-NY") located at 330 Madison Avenue, New York, NY 10017. The personnel
providing research and rendering investment advice to each Fund will be
transferred as a business unit from BJB-NY to JBIMI so that there will be no
material changes in the advisory personnel who manage the Funds. Also, the
terms of the new advisory agreements between each of the Funds and JBIMI are
substantially identical to the terms of the former advisory agreements with
BJB-NY, except for different effective and termination dates. Specifically, the
new advisory agreements approved by shareholders on December 6, 2000 did not
result in a change in advisory fees paid by the Funds. Prior to July 1, 1998,
JBIMI served as the investment adviser to the Global Income Fund.
JBIMI is a registered investment adviser and a majority owned subsidiary of
Julius Baer Securities Inc. ("JBS"). JBS, located at 330 Madison Avenue, New
York, NY, 10017, is a wholly owned subsidiary of Julius Baer Holding Ltd. of
Zurich, Switzerland. As of August 31, 2000, JBIMI had assets under management
of approximately $5.7 billion.
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IN THE PROSPECTUS UNDER THE SECTIONS "THE FUND'S FEES AND EXPENSES" FOOTNOTE 1
IS AMENDED TO READ AS FOLLOWS:
1./ If you purchase shares on or after November 15, 1999, you will pay a
redemption fee of 2% of the amount redeemed if those shares are sold 90 days
or less from the date that they were purchased. The Fund may waive the
redemption fee for certain tax-advantaged retirement plans. The Fund
reserves the right to terminate or modify the terms of the redemption fee
waiver at any time. For all redemptions, if you sell shares and request your
money by wire transfer, the Fund reserves the right to impose a $12.00 fee.
Your bank may also charge you a fee for receiving wires.
IN THE SECTION "PURCHASING YOUR SHARES" THE FIRST PARAGRAPH UNDER "MORE
INFORMATION ABOUT EXCHANGES" IS AMENDED TO READ AS FOLLOWS:
A redemption fee of 2% of the amount redeemed will apply to shares exchanged
for shares of the other Fund if the shares redeemed were purchased on or after
November 15, 1999, and are exchanged 90 days or less after they were purchased.
The Fund may waive the redemption fee for certain tax-advantaged retirement
plans. The Fund reserves the right to terminate or modify the terms of the
redemption fee waiver at any time.
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IN THE SECTION "SELLING YOUR SHARES" THE FIRST PARAGRAPH UNDER "REDEMPTION FEE"
IS AMENDED TO READ AS FOLLOWS:
For shares purchased on or after November 15, 1999, a redemption fee of 2% of
the value of the shares sold will be imposed on Class A shares and Class I
shares redeemed 90 days or less after their date of purchase. The redemption
fee is intended to limit short-term trading in the Funds or, to the extent that
short-term trading persists, to impose the costs of that type of activity on
the shareholders who engage in it. The redemption fee will be paid to the
appropriate Fund. The Fund may waive the redemption fee for certain
tax-advantaged retirement plans. The Fund reserves the right to terminate or
modify the terms of the redemption fee waiver at any time.
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IN THE PROSPECTUS UNDER THE SECTION "INVESTMENT MINIMUMS" THE FOLLOWING
PARAGRAPH IS ADDED AS FOLLOWS:
You may purchase Class I shares only if you meet the criteria under "Share
Classes" and you meet the mandatory monetary minimums set forth in the table.
If you do not qualify to purchase Class I shares and you request to purchase
Class I shares, your request will be treated as a purchase request for Class A
shares or declined.
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FOR THE JULIUS BAER INTERNATIONAL EQUITY FUND
The Adviser's contractual agreement to waive that portion of its fee equal to
an annual rate of 0.15% of the Fund's average daily net assets will expire on
November 15, 2000, and will not be renewed.
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