[The following Prospectus supplement relates to the Berger/BIAM
International Fund and replaces in its entirety the Prospectus
supplement dated October 15, 1996]
BERGER/BIAM INTERNATIONAL FUND
SUPPLEMENT DATED NOVEMBER 11, 1996
TO PROSPECTUS DATED OCTOBER 15, 1996
On November 11, 1996, Bank of Ireland Asset Management
(U.S.) Limited ("BIAM") completed the formation of its joint venture
with Berger Associates, Inc. ("Berger Associates") as described in the
Prospectus dated October 15, 1996, under the heading "Management and
Investment Advice--Pending Sale of Interest in Advisor" by acquiring a
50% interest in BBOI Worldwide LLC, the investment advisor to the
Berger/BIAM International Portfolio and the administrator to the Fund.
Consummation of the joint venture will not change any of the service
provider arrangements described in the Prospectus. BIAM will continue
to provide day-to-day portfolio management as sub-advisor and Berger
Associates will continue to provide administrative services as sub-
administrator.
[The following Prospectus supplement relates to the Berger/BIAM
International Institutional Fund]
BERGER/BIAM INTERNATIONAL INSTITUTIONAL FUND
SUPPLEMENT DATED NOVEMBER 11, 1996
TO PROSPECTUS DATED OCTOBER 15, 1996
On November 11, 1996, Bank of Ireland Asset Management
(U.S.) Limited ("BIAM") completed the formation of its joint venture
with Berger Associates, Inc. ("Berger Associates") as described in the
Prospectus dated October 15, 1996, under the heading "Management and
Investment Advice--Pending Sale of Interest in Advisor" by acquiring a
50% interest in BBOI Worldwide LLC, the investment advisor to the
Berger/BIAM International Portfolio and the administrator to the Fund.
Consummation of the joint venture will not change any of the service
provider arrangements described in the Prospectus. BIAM will continue
to provide day-to-day portfolio management as sub-advisor and Berger
Associates will continue to provide administrative services as sub-
administrator.
[The following Prospectus supplement relates to the Berger/BIAM
International CORE Fund]
BERGER/BIAM INTERNATIONAL CORE FUND
SUPPLEMENT DATED NOVEMBER 11, 1996
TO PROSPECTUS DATED OCTOBER 15, 1996
On November 11, 1996, Bank of Ireland Asset Management
(U.S.) Limited ("BIAM") completed the formation of its joint venture
with Berger Associates, Inc. ("Berger Associates") as described in the
Prospectus dated October 15, 1996, under the heading "Management and
Investment Advice--Pending Sale of Interest in Advisor" by acquiring a
50% interest in BBOI Worldwide LLC, the investment advisor to the
Berger/BIAM International Portfolio and the administrator to the Fund.
Consummation of the joint venture will not change any of the service
provider arrangements described in the Prospectus. BIAM will continue
to provide day-to-day portfolio management as sub-advisor and Berger
Associates will continue to provide administrative services as sub-
administrator.
[The following Statement of Additional Information supplement relates
to the Berger/BIAM International Fund]
BERGER/BIAM INTERNATIONAL FUND
SUPPLEMENT DATED NOVEMBER 11, 1996
TO STATEMENT OF ADDITIONAL INFORMATION DATED OCTOBER 15, 1996
The Statement of Additional Information dated October
15, 1996, is amended by the addition of the following as part of the
information listed for Gerard M. Lavin under the heading "Management
of the Fund":
Member and Chairman of the Board of
Managers and Chief Executive Officer on
the Management Committee of BBOI
Worldwide LLC since November 1996.
The information about trustees and executive officers
of the Trust under that same heading is further amended by the
addition of the following information about Denis Curran, who was
appointed as a trustee of the Trust effective November 1996:
* DENIS CURRAN, Two Greenwich Plaza,
Greenwich, CT 06830, age 49. President
and a director since December 1994, and
Senior Vice President and a director
from September 1991 to December 1994, of
Bank of Ireland Asset Management (U.S.)
Limited (investment advisory firm).
Member of the Board of Managers and
Chief Executive Officer on the
Management Committee of BBOI Worldwide
LLC since November 1996. Trustee of
Berger/BIAM Worldwide Funds Trust and
Berger/BIAM Worldwide Portfolios Trust
since November 1996.
________________
* Interested person (as defined in the Investment
Company Act of 1940) of the Fund and of the
Portfolio's Advisor or Sub-Advisor.
The second paragraph in the Statement of Additional
Information under the heading "Investment Advisor and Sub-Advisor--
Investment Advisor" is amended by deleting entirely the last sentence
thereof, and by substituting the following for the third sentence
thereof:
However, the Advisor is owned jointly by Berger
Associates, Inc. ("Berger Associates") and Bank of
Ireland Asset Management (U.S.) Limited, which
have both been in the investment advisory business
for many years.
[The following Statement of Additional Information supplement relates
to the Berger/BIAM International Institutional Fund]
BERGER/BIAM INTERNATIONAL INSTITUTIONAL FUND
SUPPLEMENT DATED NOVEMBER 11, 1996
TO STATEMENT OF ADDITIONAL INFORMATION DATED OCTOBER 15, 1996
The Statement of Additional Information dated October
15, 1996, is amended by the addition of the following as part of the
information listed for Gerard M. Lavin under the heading "Management
of the Fund":
Member and Chairman of the Board of
Managers and Chief Executive Officer on
the Management Committee of BBOI
Worldwide LLC since November 1996.
The information about trustees and executive officers
of the Trust under that same heading is further amended by the
addition of the following information about Denis Curran, who was
appointed as a trustee of the Trust effective November 1996:
* DENIS CURRAN, Two Greenwich Plaza,
Greenwich, CT 06830, age 49. President
and a director since December 1994, and
Senior Vice President and a director
from September 1991 to December 1994, of
Bank of Ireland Asset Management (U.S.)
Limited (investment advisory firm).
Member of the Board of Managers and
Chief Executive Officer on the
Management Committee of BBOI Worldwide
LLC since November 1996. Trustee of
Berger/BIAM Worldwide Funds Trust and
Berger/BIAM Worldwide Portfolios Trust
since November 1996.
________________
* Interested person (as defined in the Investment
Company Act of 1940) of the Fund and of the
Portfolio's Advisor or Sub-Advisor.
The second paragraph in the Statement of Additional
Information under the heading "Investment Advisor and Sub-Advisor--
Investment Advisor" is amended by deleting entirely the last sentence
thereof, and by substituting the following for the third sentence
thereof:
However, the Advisor is owned jointly by Berger
Associates, Inc. ("Berger Associates") and Bank of
Ireland Asset Management (U.S.) Limited, which
have both been in the investment advisory business
for many years.
[The following Statement of Additional Information supplement relates
to the Berger/BIAM International CORE Fund]
BERGER/BIAM INTERNATIONAL CORE FUND
SUPPLEMENT DATED NOVEMBER 11, 1996
TO STATEMENT OF ADDITIONAL INFORMATION DATED OCTOBER 15, 1996
The Statement of Additional Information dated October
15, 1996, is amended by the addition of the following as part of the
information listed for Gerard M. Lavin under the heading "Management
of the Fund":
Member and Chairman of the Board of
Managers and Chief Executive Officer on
the Management Committee of BBOI
Worldwide LLC since November 1996.
The information about trustees and executive officers
of the Trust under that same heading is further amended by the
addition of the following information about Denis Curran, who was
appointed as a trustee of the Trust effective November 1996:
* DENIS CURRAN, Two Greenwich Plaza,
Greenwich, CT 06830, age 49. President
and a director since December 1994, and
Senior Vice President and a director
from September 1991 to December 1994, of
Bank of Ireland Asset Management (U.S.)
Limited (investment advisory firm).
Member of the Board of Managers and
Chief Executive Officer on the
Management Committee of BBOI Worldwide
LLC since November 1996. Trustee of
Berger/BIAM Worldwide Funds Trust and
Berger/BIAM Worldwide Portfolios Trust
since November 1996.
________________
* Interested person (as defined in the Investment
Company Act of 1940) of the Fund and of the
Portfolio's Advisor or Sub-Advisor.
The second paragraph in the Statement of Additional
Information under the heading "Investment Advisor and Sub-Advisor--
Investment Advisor" is amended by deleting entirely the last sentence
thereof, and by substituting the following for the third sentence
thereof:
However, the Advisor is owned jointly by Berger
Associates, Inc. ("Berger Associates") and Bank of
Ireland Asset Management (U.S.) Limited, which
have both been in the investment advisory business
for many years.
