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Filed Pursuant to Rule 497(e)
Registration File No.: 33-56239
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SUPPLEMENT TO THE STATEMENT OF
ADDITIONAL INFORMATION OF
DEAN WITTER GLOBAL ASSET ALLOCATION FUND
DATED DECEMBER 30, 1994
The "Statement of Assets and Liabilities at December 7, 1994" and "Report
of Independent Accountants" sections at Pages 41-43 are hereby supplemented
by the attached pages.
February 27, 1995
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DEAN WITTER GLOBAL ASSET ALLOCATION FUND
Statement of Assets and Liabilities at January 31, 1995
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<TABLE>
<CAPTION>
<S> <C>
ASSETS: Cash .........................................................................$100,000
Deferred organizational expenses (Note 1) ........................................... 180,000
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Total Assets ....................................................................... 280,000
LIABILITIES: Organizational expenses payable (Note 1) ................................ 180,000
Commitments (Notes 1 and 2) .........................................................
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Net Assets ......................................................................... $100,000
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Net Asset Value Per Share (10,000 shares of beneficial interest outstanding;
unlimited authorized shares of beneficial interest of $.01 par value) .............. $10.00
==========
</TABLE>
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NOTE 1 --Dean Witter Global Asset Allocation Fund (the "Fund") was
organized as a Massachusetts business trust on October 18, 1994. To date the
Fund has had no transactions other than those relating to organizational
matters and the sale of 10,000 shares of beneficial interest for $100,000 to
Dean Witter InterCapital Inc. (the "Investment Manager"). The Fund is
registered under the Investment Company Act of 1940, as amended (the "Act"),
as a diversified, open-end management investment company. Organizational
expenses of the Fund incurred prior to the offering of the Fund's shares will
be paid by the Investment Manager. It is currently estimated that the
Investment Manager will incur, and be reimbursed by the Fund for
approximately $180,000 in organizational expenses. These expenses will be
deferred and amortized by the Fund on the straight-line method over a period
not to exceed five years from the date of commencement of the Fund's
operations. In the event that, at any time during the five year period
beginning with the date of the commencement of operations, the initial shares
acquired by the Investment Manager prior to such date are redeemed, by any
holder thereof, the redemption proceeds payable in respect of such shares
will be reduced by the pro rata share (based on the proportionate share of
the initial shares redeemed to the total number of original shares
outstanding at the time of redemption) of the then unamortized deferred
organizational expenses as of the date of such redemption. In the event that
the Fund liquidates before the deferred organizational expenses are fully
amortized, the Investment Manager shall bear such unamortized deferred
organizational expenses.
NOTE 2 --The Fund has entered into an investment management agreement with
the Investment Manager. The Investment Manager has entered into Sub-Advisory
Agreements with TCW Funds Management, Inc. ("TCW") and Morgan Grenfell
Investment Services Limited ("MGIS"). TCW and MGIS will provide investment
advice and portfolio management relating to the Fund's investments in
securities, issued by issuers located in Canada and Latin America (TCW) and
outside the Western Hemisphere (MGIS), subject to the overall supervision of
the Investment Manager. Certain officers and/or trustees of the Fund are
officers and/or directors of the Investment Manager. The Fund has retained
the Investment Manager to manage the investment of the Fund's U.S. assets and
supervise the investment of all the Fund's assets. Under the terms of the
investment management agreement, the Investment Manager maintains certain of
the Fund's books and records and furnishes, at its own expense, such office
space, facilities, equipment, supplies, clerical help and bookkeeping and
certain legal services as the Fund may reasonably require in the conduct of
its business. In addition, the Investment Manager pays the salaries of all
personnel, including officers of the Fund, who are employees of the
Investment Manager. The Investment Manager also bears the cost of the Fund's
telephone service, heat, light, power and other utilities provided to the
Fund.
As full compensation for the services and facilities furnished to the Fund
and expenses of the Fund assumed by the Investment Manager, the Fund will pay
the Investment Manager monthly compensation calculated daily by applying the
annual rate of 1.0% to the Fund's daily net assets. As full compensation for
their services to be provided pursuant to the Sub-Advisory Agreements, the
Investment Manager will pay each Sub-Advisor monthly compensation equal to
30% of its monthly compensation.
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Shares of the Fund will be distributed by Dean Witter Distributors Inc.
(the "Distributor"), a wholly-owned subsidiary of Dean Witter, Discover & Co.
and an affiliate of the Investment Manager. The Fund has adopted a Plan of
Distribution pursuant to Rule 12b-1 under the Act (the "Plan"). The Plan
provides that the Distributor will bear the expense of all promotional and
distribution related activities on behalf of the Fund, including the payment
of commissions for sales of the Fund's shares and incentive compensation to
and expenses of Dean Witter Reynolds Inc. ("DWR") account executives and
others who engage in or support distribution of shares or who service
shareholder accounts, including overhead and telephone expenses; printing and
distribution of prospectuses and reports used in connection with the offering
of the Fund's shares to other than current shareholders; and preparation,
printing and distribution of sales literature and advertising materials. In
addition, the Distributor may utilize fees paid pursuant to the Plan to
compensate DWR and others for their opportunity costs in advancing such
amounts, which compensation would be in the form of a carrying charge on any
unreimbursed distribution expenses incurred.
To compensate the Distributor for the services provided and for the
expenses borne by the Distributor and others under the Plan, the Fund will
pay the Distributor compensation accrued daily and payable monthly at the
annual rate of 1.0% of the lesser of; (a) the average daily aggregate gross
sales of the Fund's shares since the inception of the Fund (not including
reinvestments of dividends or capital gains distributions), less the average
daily aggregate net asset value of the Fund's shares redeemed since the
Fund's inception upon which a contingent deferred sales charge has been
imposed or waived; or (b) the Fund's average daily net assets.
Dean Witter Trust Company (the "Transfer Agent"), an affiliate of the
Investment Manager and the Distributor, is the transfer agent of the Fund's
shares, dividend disbursing agent for payment of dividends and distributions
on Fund shares and agent for shareholders under various investment plans.
The Investment Manager has undertaken to assume all operating expenses
(except for the Plan fee and any brokerage fees) and waive the compensation
provided for in its investment management agreement for services rendered
until such time as the Fund has $50 million of net assets or until six months
from the date of commencement of the Fund's operations, whichever occurs
first.
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REPORT OF INDEPENDENT ACCOUNTANTS
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To the Shareholder and Trustees of
Dean Witter Global Asset Allocation Fund
In our opinion, the accompanying statement of assets and liabilities presents
fairly, in all material respects, the financial position of Dean Witter
Global Asset Allocation Fund ("the Fund") at January 31, 1995, in conformity
with generally accepted accounting principles. This financial statement is
the responsibility of the Fund's management; our responsibility is to express
an opinion on this financial statement based on our audit. We conducted our
audit of this financial statement in accordance with generally accepted
auditing standards which require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statement is free of
material misstatement. An audit includes examining, on a test basis, evidence
supporting the amounts and disclosures in the financial statement, assessing
the accounting principles used and significant estimates made by management,
and evaluating the overall financial statement presentation. We believe that
our audit provides a reasonable basis for the opinion expressed above.
PRICE WATERHOUSE LLP
1177 Avenue of the Americas
New York, New York
February 27, 1995
