BUILDERS FIXED INCOME FUND, INC.
Supplement to the Prospectus
Dated June 22, 2000
Supplement dated June 1, 2000
THE FOLLOWING REPLACES THE FIRST PARAGRAPH OF THE SECTION "MANAGEMENT OF THE
FUND-INVESTMENT SUBADVISER" ON PAGE 12 OF THE PROSPECTUS:
Principal Capital Management, LLC, a company of the Principal Financial Group,
located at 801 Grand Avenue, Des Moines, Iowa 50392, is the Fund's Subadviser.
Effective on or about August 31, 2000, Principal Capital Management will
transfer certain of its fixed income advisory and subadvisory contracts to a
newly created and wholly-owned subsidiary, Principal Capital Income Investors,
LLC. Principal Capital Income Investors will serve as the Fund's Subadviser
pursuant to a Subadvisory Agreement with the Fund's Manager that contains
identical terms and conditions to the current Subadvisory Agreement between
Principal Capital Management and the Manager. The Principal Financial Group and
its affiliates manage more than $106 billion in assets worldwide, including
approximately $30 billion in U.S. fixed income, primarily for pension and other
institutional investors.
