497 1 capap.txt CREDIT SUISSE Supplement to the Prospectuses and Statement of Additional Information Credit Suisse Capital Appreciation Fund The following information supersedes certain information in the fund's Prospectuses and Statement of Additional Information, dated February 28, 2006. Effective December 1, 2006, the fund's investment strategy will change to a quantitative approach. While the fund's policy of investing substantially all of its assets - but no less than 80% of assets - in equity securities or large cap U.S. companies will not change, these securities will be selected using proprietary quantitative stock selection models rather than the more traditional fundamental analysis approach. The fund's current investment strategy is described beginning on page 11 of the Prospectus. The fund will be managed by a team that employs quantitative portfolio management techniques rather than a traditional fundamental equity research approach. Under the fund's new investment strategy, the portfolio managers will select securities for the fund using proprietary quantitative models, which are designed to: o forecast the expected relative return of stocks by analyzing a number of fundamental factors, including a company's relative valuation, use of capital, balance sheet quality, profitability, realized and expected growth potential and earnings and price momentum; o identify stocks that are likely to suffer declines in price if market conditions deteriorate and limit the fund's overall exposure to such low quality stocks; and o help determine the fund's relative exposure to different industry sectors by analyzing sector performance under different market scenarios. Under the fund's new investment strategy, the portfolio managers will continue to use the Russell 1000(R) Growth Index as a benchmark and will apply the proprietary quantitative models described above to companies that are represented in the Russell 1000(R) Growth Index, as well as other companies with similar attributes and capitalizations to the companies in the Russell 1000(R) Growth Index. A stock may be overweighted or underweighted in relation to the Russell 1000(R) Growth Index based on the expected return and risks associated with that stock, both considered relative to the fund as a whole, among other characteristics. In general, the fund will maintain investment attributes that are similar to those of the Russell 1000(R) Growth Index, and intends to limit its divergence from the Russell 1000(R) Growth Index in terms of market, industry and sector exposures. As a result, coinciding with the change in the fund's investment strategy, the name of the fund will change to "Credit Suisse Large Cap Growth Fund." In addition, in connection with the fund's change in investment strategy, the fund's advisory fee will be reduced from 0.70% of its average daily net assets to 0.50% of its average daily net assets. The fund's 80% investment policy may be changed by the fund's Board of Trustees on 60 days' notice to shareholders. The fund's investment objective may be changed without shareholder approval. Dated: September 26, 2006 16-0906 for CAP-PRO-CMN CAP-PRO-ADV CAP-PRO-LOAD 2006-032