GT GLOBAL VARIABLE INVESTMENT SERIES
497, 1996-12-19
Previous: ONE FUND INC, 497, 1996-12-19
Next: SMITH BARNEY MUNICIPAL FUND INC, 497, 1996-12-19



<PAGE>
                      GT GLOBAL VARIABLE INVESTMENT FUNDS
 
   SUPPLEMENT TO PROSPECTUS DATED APRIL 29, 1996, AS REVISED OCTOBER 31, 1996
- --------------------------------------------------------------------------------
 
EFFECTIVE  JANUARY 2, 1997, THE FOLLOWING REVISES AND SUPERSEDES, AS APPLICABLE,
THE DISCUSSION UNDER  "INVESTMENT OBJECTIVES  AND POLICIES" WITH  RESPECT TO  GT
GLOBAL VARIABLE AMERICA FUND ("AMERICA FUND"):
 
America  Fund seeks its  objective by investing,  under normal circumstances, at
least 65%  of  its  total assets  in  equity  securities of  mid  cap  companies
domiciled  in its  Primary Investment  Area. "Mid  cap" companies  are companies
that, at the  time of purchase  of their  securities by the  America Fund,  have
market capitalizations of $1 billion to $5 billion.
 
The last two sentences of the last full paragraph on page ten are deleted.
 
WITH  RESPECT TO AMERICA FUND, GT  GLOBAL VARIABLE INTERNATIONAL FUND, GT GLOBAL
VARIABLE U.S.  GOVERNMENT  INCOME FUND,  GT  GLOBAL VARIABLE  GLOBAL  GOVERNMENT
INCOME FUND, GT GLOBAL VARIABLE STRATEGIC INCOME FUND AND GT GLOBAL MONEY MARKET
FUND, THE FOLLOWING REVISES AND SUPERSEDES THE DISCUSSION UNDER "MANAGEMENT":
 
Ellen  H. Adams will be named a Portfolio Manager for America Fund on January 2,
1997. Ms. Adams has been  the Head of North  American Equity for Chancellor  LGT
Asset  Management, Inc. (the "Manager") since  1995, Director of Equity Research
for the Manager from May  1993 until 1995, and  a Portfolio Manager and  Analyst
for  the  Manager from  1992  until May  1993. Prior  thereto,  Ms. Adams  was a
Portfolio Manager for Neuberger & Berman  from 1987 until 1992. Ann B.  Hutchins
will  be named the other Portfolio Manager  for America Fund on January 2, 1997.
Ms. Hutchins has  been a  Portfolio Manager for  the Manager  since 1994.  Prior
thereto,  Ms. Hutchins  was Equity  Portfolio Manager  and Research  Analyst for
Cadence Capital Management from 1988 until 1994.
 
Roger  Yates  has  been  named  a  Portfolio  Manager  for  GT  Global  Variable
International  Fund as of December 1996.  Mr. Yates has been International Chief
Investment Officer for the Manager since September 1996. From 1994 to 1996,  Mr.
Yates was the Chief Investment Officer for Europe and the United Kingdom for the
Manager.  From 1988  to 1994,  Mr. Yates  was an  Investment Manager  for Morgan
Grenfell Asset Management.
 
Cheng-Hock Lau  has  been named  a  Portfolio  Manager for  GT  Global  Variable
Strategic Income Fund ("Strategic Income Fund") as of December 1996. Mr. Lau has
been  Chief Investment Officer  for Developed Market Debt  for the Manager since
November 1996, and was a Senior Portfolio Manager for global/international fixed
income for the Manager from July 1995  to November 1996. Prior thereto, Mr.  Lau
was  a Senior  Vice President and  Senior Portfolio Manager  for Fiduciary Trust
Company International from  1993 to 1995,  and Vice President  at Bankers  Trust
Company  from 1991 to 1993. Simon Nocera  remains the other Portfolio Manager of
the Strategic Income Fund.
 
John W. Geissinger will be named  Portfolio Manager for GT Global Variable  U.S.
Government  Income Fund  on January  2, 1997. Mr.  Geissinger has  been a Senior
Portfolio Manager and Head  of the Investment Grade  Fixed Income Group for  the
Manager since 1993. Prior thereto, Mr. Geissinger was a Portfolio Manager at the
Putnam Companies from 1987 until 1993.
 
Cheng-Hock  Lau has been  named a Portfolio  Manager for the  GT Global Variable
Global Government Income Fund ("Global  Government Income Fund") as of  December
1996.  Robert Allen remains the other Portfolio Manager of the Global Government
Income Fund. John  W. Geissinger and  David B. Hughes  will be named  additional
Portfolio Managers for the Global Government Income Fund on January 2, 1997. Mr.
Hughes  has been an Assistant Portfolio Manager of the Manager since 1995. Prior
thereto, Mr. Hughes was an Assistant  Vice President at Fiduciary Trust  Company
International  from  1994 to  1995,  and a  member  of the  Global  Fixed Income
Division of Bankers Trust Company from 1991 to 1994.
 
John W. Geissinger will be named a Portfolio Manager for GT Global Money  Market
Fund  on January 2, 1997.  Heidi Koch will be  named the other Portfolio Manager
for GT  Global Money  Market  Fund on  January  2, 1997.  Ms.  Koch has  been  a
Portfolio Manager for the Manager since 1991.
 
On  October 31, 1996, Chancellor Capital Management, Inc. ("Chancellor Capital")
merged with LGT  Asset Management, Inc.,  and the resulting  entity was  renamed
Chancellor  LGT Asset Management,  Inc. Prior to October  31, 1996, Messrs. Lau,
Geissinger and Hughes, Ms. Adams, Ms. Hutchins and Ms. Koch were employees  only
of Chancellor Capital.
 
[LOGO]
 
VARST612007.5M                                                 December 20, 1996


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission