Supplement dated July 7, 1998
to the Prospectus dated May 1, 1998
of
HANSBERGER INSTITUTIONAL SERIES
515 East Las Olas Boulevard
Suite 1300
Fort Lauderdale, Florida
Telephone No. 954-522-5150
The attached Prospectus dated May 1, 1998, of the Hansberger
Institutional Series (the "Trust"), which is incorporated herein
by reference in its entirety, is hereby amended and supplemented
as follows:
- - The ANNUAL OPERATING EXPENSES and Example for the
Emerging Markets Fund listed on pages 3 and 4, under the heading
"FEE SUMMARY," are revised and amended as follows:
ANNUAL FUND OPERATING EXPENSES
(as a percentage of average net assets)
Management Fees* .21%
12b-1 Fees None
Other Expenses (after voluntary waivers)** 1.04%
----
Total Fund Operating Expenses (after
voluntary waivers)*** 1.25%
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* Reflects an increased level of voluntary waivers of
fees by the Adviser. In the absence of such voluntary
waivers, Management Fees for Emerging Markets Fund are
estimated to be 1.00%.
** Reflects voluntary waivers and reimbursements of fees
by the Adviser. In the absence of such voluntary
waivers or reimbursements, Other Expenses for Emerging
Markets Fund are estimated to be 1.18%.
*** Reflects voluntary waivers and reimbursements of fees
by the Adviser. In the absence of such voluntary
waivers or reimbursements, Total Operating Expenses for
Emerging Markets Fund are estimated to be 2.18%.
Although the Adviser anticipates voluntarily waiving
fees and/or bearing expenses that will result in total
fund operating expenses as set forth above, it is under
no obligation to continue to do so.
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Example
The following example demonstrates the expenses you would
pay on a $1,000 investment assuming 5% annual return and either
(1) complete redemption at the end of each time period:
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
Emerging Markets Fund $33 $61 $91 $176
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or (2) no redemption at the end of each period:
1 Year 3 Years 5 Years 10 Years
------ ------- ------- --------
Emerging Markets Fund $23 $50 $79 $161
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PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
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