CGMRX Fund - Realty 5 star fund

CGMRX Fund: The Fund’s investment objective is to provide a combination of income and long-term growth of capital.

Summary of Principal Investment Strategies
The Fund invests primarily in equity securities of companies in the real estate industry, including real estate investment trusts (“REITs”). Under normal circumstances, the Fund expects to invest at least 80% of its assets in these securities. The Fund may invest up to 20% of its assets in equity or debt securities of companies outside the real estate industry. The debt and fixed income securities in which the Fund may invest may be of any credit quality (including below investment grade securities, commonly referred to as “junk bonds”) and of any maturity. The Fund may invest in equity securities of is-suers of any size. The Fund may invest in the securities of U.S. and foreign issuers. The Fund may, from time to time, invest a significant portion of the Fund’s assets in a small number of companies. The Fund’s investment manager employs a flexible investment style and seeks to take advantage of opportunities as they arise. As a consequence of the Fund’s investment strategy, the Fund generally has a high rate of portfolio turnover.

Growth of $10,000 - CGMRX

FUND MANAGEMENT
The Fund’s investment adviser is Capital Growth Management Limited Partnership. Ken Heebner is the portfolio manager and he has managed CGM Realty Fund since its inception in 1994.

PURCHASE AND SALE OF FUND SHARES
The minimum initial investment is $2,500 for regular accounts and $1,000 for retirement plans and UGMA/UTMA accounts. Subsequent investments must be at least $50. You may sell shares in the Fund by sending a written request for a check, wire transfer or Automated Clearing House (“ACH”) redemption to your bank or by making a telephone request, if you have elected this option, for redemption by check, wire transfer or ACH to your bank.

TAX INFORMATION
The Fund intends to make distributions that may be taxed as ordinary income or capital gains.

Fund manager: Ken Heebner

One of the best mutual fund managers around - Ken Heebner of CGM Funds (Capital Growth Management). His performance with CGMRX Realty Fund is outstanding.

CGM Funds
P.O. Box 8511, Boston, MA 02266-8511
1-800-345-4048 staff@cgmfunds.com

Year-by-Year Total Return - CGMRX

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Symbol	Prospectuses		Statement of Additional Information	Reports
Symbol	Summary	Prospectus	Statement of Additional Information	Annual	Semiannual
CGMRX	5/1/2011	5/1/2011	5/1/2011	12/31/2010	6/30/2011