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SUPPLEMENT TO THE PROSPECTUS OF
DEAN WITTER GLOBAL ASSET ALLOCATION FUND
DATED JULY 28, 1997
THE FUND AND ITS MANAGEMENT. In October 1997, TCW Funds Management, Inc.
("TCW"), a sub-adviser of the Fund, indicated its intention to resign as
sub-adviser. On November 6, 1997, the Board of Trustees unanimously recommended
that a new Investment Management Agreement between the Fund and Dean Witter
InterCapital ("InterCapital") (the "New Investment Management Agreement") be
submitted to shareholders for approval at a special meeting expected to be held
in February 1998. The proposed New Investment Management Agreement is
substantially the same as the current Investment Management Agreement, except
that the New Investment Management Agreement contains additional language
intended to clarify that all or a portion of the Fund's portfolio currently
advised by sub-advisers may be managed directly by InterCapital.
If the New Investment Management Agreement is approved by shareholders,
InterCapital will assume managing that portion of the Fund's portfolio for which
TCW had previously provided investment advice as sub-adviser. Therefore,
InterCapital will be directly responsible for providing investment advice and
portfolio management relating to the Fund's investments in securities issued by
issuers located in the United States, Latin America, and Canada. Under the New
Investment Management Agreement, the Fund will continue to pay InterCapital a
management fee at an annual rate of 1.0% of the Fund's average daily net assets,
as it does under the current Investment Management Agreement. Morgan Grenfell
Investment Services Limited ("Morgan Grenfell"), a sub-adviser of the Fund, will
continue to provide investment advice and portfolio management relating to the
Fund's investments in securities issued by issuers located outside the Western
Hemisphere, subject to the overall supervision of InterCapital. Morgan Grenfell
will continue to receive a fee from InterCapital of 30% of the management fee
that InterCapital receives from the Fund.
November 6, 1997
