<PAGE>
[LOGO] GE Funds
Supplement Dated March 31, 2000
To Prospectus Dated January 29, 2000
When the GE Mid-Cap Value Equity Fund, GE Europe Equity Fund, GE Emerging
Markets Fund (together, the "Equity Funds") and GE High Yield Fund were launched
in January 1999, GE Asset Management agreed to reduce its investment management
fee for the first year of operations. Effective April 14, 2000, the 0.15%
investment management fee reduction for the Equity Funds and the 0.10% reduction
for the GE High Yield Fund, each referenced in the footnote to the Investment
Management Fee table on page 60 of the Prospectus, will be eliminated. As a
result, the Annual Fund Operating Expense Table with respect to the Funds
appearing on pages 44 and 45 of the Prospectus is amended and restated as
follows:
<TABLE>
<CAPTION>
Annual Fund Operating Expenses
(as a percentage of average net assets)
GE Mid-Cap GE Europe GE Emerging GE High
Management Fees:** Value Equity Fund Equity Fund Markets Fund Yield Fund
<S> <C> <C> <C> <C>
All Classes 0.80% 1.05% 1.20% 0.60%
Distribution and
Service (12b-1) Fees:
Class A 0.25% 0.25% 0.25% 0.25%
Class B 1.00% 1.00% 1.00% 1.00%
Class C 1.00% 1.00% 1.00% 1.00%
Class Y None None None None
Other Expenses:***
All Classes 0.49% 0.61% 0.45% 0.31%
Total Annual Fund
Operating Expenses:
Class A 1.54% 1.91% 1.90% 1.16%
Class B 2.29% 2.66% 2.65% 1.91%
Class C++ 2.29% 2.66% 2.65% 1.91%
Class Y 1.29% 1.66% 1.65% 0.91%
Waiver and/or
Reimbursement: 0.24% 0.31% 0.15% 0.11%
Net Annual Fund
Operating Expenses:+
Class A 1.30% 1.60% 1.75% 1.05%
Class B 2.05% 2.35% 2.50% 1.80%
Class C++ 2.05% 2.35% 2.50% 1.80%
Class Y 1.05% 1.35% 1.50% 0.80%
</TABLE>
** The nature of the services provided to, and the advisory and administration
fees paid by, each Fund are described under "About the Investment Adviser."
*** "Other expenses" includes fees for shareholder services other than those
borne by a Fund (under a shareholder servicing and distribution plan or an
advisory and administration agreement adopted by the GE Funds). Such fees
include custodial fees, legal and accounting fees, printing costs and
registration fees.
+ The fee table reflects contractual arrangements with GE Asset Management to
limit "Other Expenses" of each class of each Fund on an annualized basis through
January 28, 2001.
++ Expenses for Class C shares are based on estimated amounts to be charged in
the first year of operations.
The following amends and restates relevant portions of the Impact of Fund
Expenses Table on pages 46 and 47 of the Prospectus:
<TABLE>
<CAPTION>
The Impact of Fund Expenses You would pay the following expenses on a $10,000 investment,
assuming redemption assuming no redemption
Year 1 Year 3 Year 5 Year 10 Year 1 Year 3 Year 5 Year 10
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
GE Mid-Cap Class A $700 $1,011 $1,345 $2,285 $700 $1,011 $1,345 $2,285
Value Fund Class B 608 892 1,203 2,246 208 692 1,203 2,246
Class C 308 692 1,203 2,607 208 692 1,203 2,607
Class Y 107 385 685 1,535 107 385 685 1,535
GE Europe Class A $728 $1,112 $1,520 $2,656 $728 $1,112 $1,520 $2,656
Equity Fund Class B 638 997 1,382 2,622 238 797 1,382 2,622
Class C 338 797 1,382 2,970 238 797 1,382 2,970
Class Y 137 493 873 1,939 137 493 873 1,939
GE Emerging Class A $743 $1,124 $1,529 $2,658 $743 $1,124 $1,529 $2,658
Markets Fund Class B 653 1,009 1,392 2,624 253 809 1,392 2,624
Class C 353 809 1,392 2,972 253 809 1,392 2,972
Class Y 153 506 883 1,942 153 506 883 1,942
GE High Yield Class A $528 $767 $1,026 $1,765 $528 $767 $1,026 $1,765
Fund Class B 483 789 1,021 1,849 183 589 1,021 1,849
Class C 283 589 1,021 2,224 183 589 1,021 2,224
Class Y 82 279 493 1,109 82 279 493 1,109
</TABLE>
GEF-PRO-36
