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GT GLOBAL VARIABLE INVESTMENT FUNDS
SUPPLEMENT TO PROSPECTUS DATED APRIL 29, 1996, AS REVISED OCTOBER 31, 1996
SUPPLANTING SUPPLEMENT DATED DECEMBER 20, 1996
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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 has been named a Portfolio Manager for America Fund as of 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
has been named the other Portfolio Manager for America Fund as of 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 has been named Portfolio Manager for GT Global Variable U.S.
Government Income Fund as of 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. Simon Nocera has been named the other Portfolio Manager of the Global
Government Income Fund as of March 1997. Mr. Nocera has been the Chief
Investment Officer for Emerging Market Debt for the Manager since January 1996.
Mr. Nocera has been a Portfolio Manager and Economist for the Manager since
1992. From 1991 to 1992, Mr. Nocera was Senior Vice President and Director for
Global Fixed Income Research at the Putnam Companies.
John W. Geissinger has been named a Portfolio Manager for GT Global Money Market
Fund as of January 2, 1997. Heidi Koch has been named the other Portfolio
Manager for GT Global Money Market Fund as of 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 and
Geissinger, Ms. Adams, Ms. Hutchins and Ms. Koch were employees only of
Chancellor Capital.
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VARST703003M March 3, 1997
