THE MANAGERS FUNDS
MONEY MARKET FUND
Supplement dated September 24, 1997
to Prospectus dated April 1, 1997
The Prospectus is hereby supplemented as
follows:
Effective May 12, 1997, the name of the
Portfolio has been changed to The Prime Money
Market Portfolio.
Effective June 13, 1997, payments for wire
redemption orders received by the Fund prior
to 4:00 p.m. will be sent out that day. In
addition, purchases made with immediately
available funds, which are received by the
Fund prior to 4:00 p.m., will receive the
daily income dividend declared on that day.
The expenses set forth below reflect a waiver
by the Fund Administrator of its fee of 0.25%.
See "Management of the Fund and the
Portfolio."
Annual Operating Expenses* (after fee waiver):
Total
Management Other Operating
Fee Expenses Expenses
0.12% 0.38% 0.50%
*Other Expenses and Total Operating Expenses
are expressed as a percentage of average net
assets of the Fund for its fiscal year ended
November 30, 1996. These numbers do not
reflect current Fund or Fund Family asset
levels and therefore are not necessarily
indicative of what a current shareholder would
actually pay. In the absence of the fee
waiver, Other Expenses and Total Operating
Expenses, based on the Fund's fiscal 1996
average net assets of $28 million and the
Portfolio's average net assets of $3.5
billion, would have been 0.63% and 0.75%,
respectively.
The fee waiver may be modified or terminated
at any time at the sole discretion of the Fund
Administrator. For information regarding
current operating expenses of the Fund, call
(800) 835-3879.
Accordingly, the figures under the heading
Examples, are hereby updated as follows:
1 year
3 years 5 years 10 years
Money Market Fund..$5 $16
$28 $63
September 24, 1997
