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PAGE 1
Prospectus Supplement June 27, 1997*
Strategist World Technologies Fund (Oct. 31, 1996)
The following is added at page 5 under Performance and is intended to update the
financial information in the prospectus:
Financial highlights
The table below shows certain important financial information for evaluating the
Fund's results.
Period ended April 30,
Per share income and capital changes(a)
1997(b)
Net asset value, $5.00
beginning of period
Income from investment operations:
Net investment loss (.03)
Net loss (both realized (1.09)
and unrealized)
Total from investment operations (1.12)
Net asset value, $3.88
end of period
Ratios/supplemental data:
1997(b)
Net assets, end of period $388
(in thousands)
Ratio of expenses to 1.50%(c)
average daily net assets(e)
Ratio of net loss (1.30)%(c)
to average daily net assets
Portfolio turnover rate 75%
(excluding short-term securities
for the underlying Portfolio)
Total return(d) (22.4)%
Average brokerage commission $.0430
rate for the underlying Portfolio(f)
a For a share outstanding throughout the period. Rounded to the nearest cent.
b Period from Nov. 13, 1996 (inception date) to April 30, 1997(Unaudited).
c Adjusted to an annual basis.
d Total return does not reflect payment of a sales charge.
e The Advisor and Distributor voluntarily limited total operating expenses to
1.50% of average daily net assets. Without this agreement, the ratio of
expenses to average daily net assets would have been 2.57%.
f The Fund is required to disclose an average brokerage commission rate per
share for security trades on which commissions are charged. The comparability
of this information may be affected by the fact that commission rates per
share vary significantly among foreign countries.
*Valid until next prospectus update
Destroy Dec. 30, 1997
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PART C SUPPLEMENT June 27, 1997*
Strategist World Fund, Inc. Pre-Effective Amendment No. 2
(File No. 33-63951)
The following is added to item 24(a) of Part C:
Strategist World Fund, Inc. - Strategist World Technologies Fund Statement of
assets and liabilities, May 31, 1997 Statement of operations, for the one month
ended May 31, 1997 Statement of changes in net assets, for the one month ended
May 31, 1997:
Financial statements
Statement of assets and liabilities
Strategist World Technologies Fund
May 31, 1997
Assets (Unaudited)
Investment in World Technologies Portfolio $ 466,587
Other receivables 5
Organizational costs 46
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Total assets 466,638
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Liabilities
Other accrued expenses 1,588
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Total liabilities 1,588
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Net assets applicable to outstanding capital stock $ 465,050
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Represented by
Capital stock -- authorized 3,000,000,000 shares per Fund of $.01
par value: outstanding 100,000 shares $1,000
Additional paid-in capital 499,000
Net operating loss (3,276)
Accumulated net realized loss (92,969)
Unrealized appreciation of investment and on translation
of assets and liabilities in foreign currencies 61,195
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Total -- representing net assets applicable to outstanding
capital stock $464,950
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Net asset value per share of outstanding capital stock $ 4.65
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Financial statements
Statement of operations Strategist World Technologies Fund For the one month
ended May 31, 1997
Investment income
(Unaudited)
Income:
Dividends $ --
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Total income --
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Expenses:
Distribution fee 88
Transfer agency fee 1
Administrative services fees and expenses 21
Postage 17
Registration fees 102
Reports to shareholders 9
Audit fees 42
Other 149
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Total feeder expenses 429
Expenses allocated from corresponding Portfolio 268
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Total expenses 697
Less expenses reimbursed by AEFC (171)
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Total net expenses 526
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Investment loss -- net (526)
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Realized and unrealized gain (loss) -- net
Net realized loss on security and foreign currency transactions (5,748)
Net change in unrealized appreciation or depreciation of investmemts
and on translation of assets and liabilities in foreign currencies 83,532
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Net gain on investments and foreign currencies 77,784
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Net increase in net assets resulting from operations $ 77,258
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Financial statements
Statement of changes in net assets Strategist World Technologies Fund For the
one month ended May 31, 1997
Operations (Unaudited)
Investment loss -- net $ (526)
Net loss on investments and foreign currencies (5,748)
Net change in unrealized appreciation or depreciation of investments
and on translation of assets and liabilities in foreign currencies 83,532
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Net increase in net assets resulting from operations 77,258
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Total increase in net assets 77,258
Net assets at beginning of period 387,692
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Net assets at end of period $ 464,950
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*Valid until next prospectus update
