USAA California Money Market Fund,
USAA New York Money Market Fund,
and USAA Virginia Money Market Fund
SUPPLEMENT dated May 28, 1996
to each Fund's PROSPECTUS dated August 1, 1995
as Supplemented December 1, 1995
"Management of the Company - Portfolio Managers" of each
Fund's Prospectus is amended to reflect the following change
effective May 28, 1996.
John C. Bonnell, Executive Director of Fixed Income Investments,
assumed portfolio management responsibilities of the California
Money Market Fund, New York Money Market Fund, and Virginia
Money Market Fund replacing Pamela K. Bledsoe. Mr. Bonnell's
biographical information follows:
Mr. Bonnell has seven years investment management experience
working for USAA Investment Management Company, where he has held
various positions in Fixed Income Investments. Mr. Bonnell
earned the Chartered Financial Analyst designation in 1994 and
is a member of the Association for Investment Management and
Research, the San Antonio Financial Analysts Society, Inc., the
National Federation of Municipal Analysts and the Southern
Municipal Finance Society. He holds an MBA from St. Mary's
University and a BBA from the University of Texas at San Antonio.
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