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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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<SEC-DOCUMENT>0001093801-03-001520.txt : 20031203
<SEC-HEADER>0001093801-03-001520.hdr.sgml : 20031203
<ACCEPTANCE-DATETIME>20031203145604
ACCESSION NUMBER:		0001093801-03-001520
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20031203
EFFECTIVENESS DATE:		20031203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FREMONT MUTUAL FUNDS INC
		CENTRAL INDEX KEY:			0000837389
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	033-23453
		FILM NUMBER:		031035124

	BUSINESS ADDRESS:	
		STREET 1:		333 MARKET STREET, SUITE 2600
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94105
		BUSINESS PHONE:		8005484539

	MAIL ADDRESS:	
		STREET 1:		333 MARKET STREET, SUITE 2600
		CITY:			SAN FRANCISCO
		STATE:			CA
		ZIP:			94105

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	SIERRA MUTUAL FUNDS INC
		DATE OF NAME CHANGE:	19881113
</SEC-HEADER>
<DOCUMENT>
<TYPE>497
<SEQUENCE>1
<FILENAME>x497-1203.txt
<DESCRIPTION>FREMONT MUTUAL FUNDS, INC.
<TEXT>
                           FREMONT MUTUAL FUNDS, INC.

                        Supplement dated December 1, 2003
                                       to
           Prospectus dated March 1, 2003 as amended October 10, 2003

FREMONT GLOBAL FUND

The  following  amends  the  Portfolio  Management  section  on  page  3 of  the
Prospectus and the Additional  Information on the Fremont Global Fund section on
page 24 of the Prospectus:

PORTFOLIO MANAGEMENT

Effective  December 1, 2003,  five  sub-advisors  manage  portions of the Global
Fund.

Fremont  Investment  Advisors assumed  management  responsibility for the Fund's
inflation-linked bond portfolio formerly managed by Bridgewater Associates, Inc.
All references to Bridgewater Associates,  Inc. on page 24 of the Prospectus are
deleted.

Alexandra  Kinchen,  senior  vice  president,  manages  a  global  fixed  income
portfolio and inflation-linked bond portfolio of the Fund.

</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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