Statement of Additional Information Supplement May 1, 1998
Strategist Growth and Income Fund, Inc. S-6122-20 D (11/97)
Strategist Income Fund, Inc. S-6124-20D (7/97)
Strategist Growth Fund, Inc. S-6131-20 D (9/97)
Strategist World Fund, Inc. S-6131-20 D (12/97)
The following information has been added as an appendix to the above
referenced funds:
Investing in Foreign Securities
Investors should recognize that investing in foreign securities
involves certain special considerations, including those set forth below and
those described in the prospectus, which are not typically associated with
investing in United States securities. Foreign companies are not generally
subject to uniform accounting and auditing and financial reporting standards
comparable to those applicable to domestic companies. Additionally, many foreign
stock markets, while growing in volume of trading activity, have substantially
less volume than the New York Stock Exchange, and securities of some foreign
companies are less liquid and more volatile than securities of domestic
companies. Similarly, volume and liquidity in most foreign bond markets are less
than the volume and liquidity in the United States and at times, volatility of
price can be greater than in the United States. Further, foreign markets have
different clearance, settlement, registration and communication procedures and
in certain markets there have been times when settlements have been unable to
keep pace with the volume of securities transactions making it difficult to
conduct such transactions. Delays in such procedures could result in temporary
periods when assets of the Fund are uninvested and no return is earned thereon.
The inability of the Fund to make intended security purchases due to such
problems could cause that Fund to miss attractive investment opportunities.
Payment for securities without delivery may be required in certain foreign
markets and, when participating in new issues, some foreign countries require
payment to be made in advance of issuance (at the time of issuance, the market
value of the security may be more or less than the purchase price). Some foreign
markets also have compulsory depositories (i.e., the fund does not have a choice
as to where the securities are held). Fixed commissions on some foreign stock
exchanges are generally higher than negotiated commissions on U.S. exchanges,
although the Fund will endeavor to achieve the most favorable net results on
their portfolio transactions. Further, a Fund may encounter difficulties or be
unable to pursue legal remedies and obtain judgments in foreign courts. There is
generally less government supervision and regulation of business and industry
practices, stock exchanges, brokers and listed companies than in the United
States. It may be more difficult for the Fund's agents to keep currently
informed about corporate actions such as stock dividends or other matters which
may affect the prices of portfolio securities. Communications between the United
States and foreign countries may be less reliable than within the United States,
thus increasing the risk of delays or loss of
<PAGE>
certificates for portfolio securities. In addition, with respect to certain
foreign countries, there is the possibility of nationalization, expropriation,
the imposition of withholding or confiscatory taxes, political, social, or
economic instability, diplomatic developments which could affect United States
investments in those countries, or other unforeseen actions by regulatory bodies
(such as changes to settlement or custody procedures). Investments in foreign
securities may also entail certain risks, such as possible currency blockages or
transfer restrictions, and the difficulty of enforcing rights in other
countries.
Form S- 6532 A (4/98)
Valid until next statement of additional information update.
Destroy April 30, 1999.
