AMERICAN SKANDIA ADVISOR FUNDS, INC.
SUPPLEMENT DATED JANUARY 3, 2000 TO THE PROSPECTUS DATED NOVEMBER 1, 1999
ASAF JANUS OVERSEAS GROWTH FUND
Laurance Chang has been appointed as co-portfolio manager for the ASAF
Janus Overseas Growth Fund (the "Fund"), joining Helen Young Hayes in managing
the Fund. Accordingly, the section of the prospectus entitled "Management of the
Funds - The Sub-advisors - Janus Capital Corporation" (on page 71) is amended by
deleting the second paragraph and replacing it with the following:
The portfolio managers responsible for the management of the ASAF
Janus Overseas Growth Fund are Helen Young Hayes, CFA and Laurance
Chang, CFA. Ms. Hayes has been managing the Fund since its inception,
while Mr. Chang has been managing the Fund since January 2000. Ms.
Hayes is a Vice President of Janus and joined Janus in 1987. Mr. Chang
is a Vice President of Janus and joined Janus in 1993.
ASAF JANUS SMALL-CAP GROWTH FUND
James P. Craig, III, Chief Investment Officer of Janus, has expanded
his duties by becoming Director of Research and has relinquished his day-to-day
portfolio management responsibilities, including management of the ASAF Janus
Small-Cap Growth Fund. Accordingly, the section of the prospectus entitled
"Management of the Funds - The Sub-advisors - Janus Capital Corporation" (on
page 71) is amended by deleting the third paragraph and replacing it with the
following:
The ASAF Janus Small-Cap Growth Fund is managed by a management team
consisting of William H. Bales and Jonathan D. Coleman, CFA. Mr. Bales
and Mr. Coleman have managed the Fund since Janus became the Fund's
Sub-advisor in January, 1999. Mr. Bales has been a Portfolio Manager
with Janus since 1997 and a research analyst since 1993. He joined
Janus in 1991. Mr. Coleman has been a Portfolio Manager with Janus
since 1997 and a research analyst since joining Janus in 1994.
ASAF NEUBERGER BERMAN MID-CAP VALUE FUND
Michael M. Kassen is no longer serving as a portfolio manager for the
ASAF Neuberger Berman Mid-Cap Value Fund. Accordingly, the section of the
prospectus entitled "Management of the Funds -- The Sub-advisors - Neuberger
Berman Management Inc." (on page 71) is amended by deleting the second paragraph
and replacing it with the following:
The portfolio managers responsible for the day-to-day management of
the ASAF Neuberger Berman Mid-Cap Value Fund are Robert I. Gendelman
and S. Basu Mullick. Mr. Gendelman has been managing the Fund since
its inception, and Mr. Mullick has been managing the Portfolio since
October 1998. Mr. Gendelman is a principal of Neuberger Berman and has
been with NB Management since 1994, where he is currently a Vice
President. Mr. Mullick has been a Vice President of NB Management
since October 1998. From 1993 to 1998, Mr. Mullick was a portfolio
manager for a prominent investment adviser.
