Variable Investment Trust
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Supplement Dated December 6, 1996
to
Prospectus Dated April 29, 1996
The following information supplements or supersedes the corresponding
information set forth in the Trust's Prospectus.
Additional Investments -- Money Market Instruments. Each Portfolio (other than
the Money Market Portfolio), with respect to its limited cash position, is now
authorized to invest in GEI Short-Term Investment Fund (the "Investment Fund"),
an investment fund created specifically to serve as a vehicle for the collective
investment of cash balances of the Portfolios (other than the Money Market
Portfolio) and other accounts advised by either the Funds' investment adviser,
GE Investment Management Incorporated ("GEIM"), or its affiliate, General
Electric Investment Corporation ("GEIC"). By using the Investment Fund, a Fund's
cash position is exposed to potentially broader diversification, lower
transaction cost and better investment opportunity than would be the case if it
were invested separately without the potential benefits of such a large cash
pool.
The Investment Fund invests exclusively in the money market instruments
described in (i) through (vii) below. The Investment Fund is advised by GEIM. No
advisory fee is charged by GEIM to the Investment Fund, nor will a Portfolio
incur any sales charge, redemption fee, distribution fee or service fee in
connection with its investments in the Investment Fund.
Although, during normal market conditions, the uninvested cash balances of each
Portfolio is generally expected to be relatively small, each Portfolio (other
than the Money Market Portfolio) is authorized to invest up to 25% of its assets
in the Investment Fund if the size of the particular cash balance so warrants.
As a result of the foregoing development, the first paragraph on page 9 of the
Prospectus under "Additional Investments -- Money Market Instruments" has been
deleted in its entirety and now reads as follows to clarify the types of money
market instruments each Portfolio (other than the Money Market Portfolio) may
invest in directly or indirectly through an investment in the Investment Fund:
Money Market Instruments. Each Portfolio, other than the Money Market
Portfolio, may invest in the following types of money market
instruments: (i) securities issued or guaranteed by the U.S. Government
or one of its agencies or instrumentalities, (ii) debt obligations of
banks, savings and loan institutions, insurance companies and mortgage
bankers, (iii) commercial paper and notes, including those with
variable and floating rates of interest, (iv) debt obligations of
foreign branches of U.S. banks, U.S. branches of foreign banks and
foreign branches of foreign banks, (v) debt obligations issued or
guaranteed by one or more foreign governments or any of their political
subdivisions,
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agencies or instrumentalities, including obligations of supranational
entities, (vi) debt securities issued by foreign issuers and (vii)
repurchase agreements.
Management of the Trust -- Portfolio Management. Effective December 1996, the
portion of the U.S. Equity Portfolio managed by John Kohlhepp will be
reallocated to the four other portfolio managers in preparation for Mr.
Kohlhepp's impending retirement.
Further Information: Certain Investment Techniques and Strategies -- Strategies
Available to Some But Not All Portfolios -- Zero Coupon Obligations. The U.S.
Equity Portfolio may invest in zero coupon obligations. Additional information
relating to zero coupon obligations may be found under the caption "Further
Information: Certain Investment Techniques and Strategies -- Strategies
Available to Some But Not All Portfolios -- Zero Coupon Obligations" in the
Prospectus.
