THE MANAGERS FUNDS
MONEY MARKET FUND
Supplement dated May 1, 1996
to Prospectus dated May 1, 1996
The date of the Prospectus and Statement of
Additional Information is changed from April
1, 1996 to May 1, 1996.
The Prospectus is hereby supplemented as
follows:
Effective May 1, 1996, and until further
notice, the Fund Administrator has agreed to
absorb all Fund level expenses in excess of
0.05%, and to reimburse the Fund for its pro
rata share of expenses of the Portfolio in
excess of 0.05%. Accordingly, the table on
page 2 of this prospectus is revised as
follows:
ANNUAL OPERATING EXPENSES*:
Total
Management Other Operating
Fee Expenses Expenses
0.00% 0.10% 0.10%**
* Expenses are expressed as a percentage of
average net assets of the Fund for its most
recent fiscal year, adjusted assuming (i) the
Fund had invested all of its assets in the
Portfolio for the entire year and (ii) the
Fund Administrator had limited Fund level and
Portfolio level expenses, after expense
reimbursements, to 0.05% and 0.05%,
respectively. See "Management of the Trust
and Portfolio."
**Total Operating Expenses reflect the current
waiver of all of the Fund's administrative
fees and an undertaking by the Fund
Administrator to absorb all Fund level
expenses in excess of 0.05% of the Fund's
average daily net assets and all Portfolio
level expenses in excess of 0.05% at least
through May 31, 1996. In the absence of such
waiver and reimbursements, Other Expenses and
Total Operating Expenses, based on fiscal 1995
Fund average net assets of $13 million and
Portfolio average net assets of $2.9 billion,
would be 0.80% and 0.93%, respectively.
THE CURRENT FEE WAIVERS AND EXPENSE
LIMITATIONS MAY BE MODIFIED OR TERMINATED AT
ANY TIME AT THE SOLE DISCRETION OF THE FUND
ADMINISTRATOR. SHAREHOLDERS WILL BE NOTIFIED
OF ANY SUCH MODIFICATION OR TERMINATION, ON OR
ABOUT THE TIME IT BECOMES EFFECTIVE.
May 1, 1996
