THE MANAGERS FUNDS FILE NO. 2-
MONEY MARKET FUND 84012
811-3752
Supplement dated June 4, 1996 Rule 497-c
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 June 17, 1996, and through November
30, 1996, the Fund Administrator has agreed to
waive its administrative fee. The Fund
Administrator has also agreed, until further
notice and at its discretion, to absorb or
otherwise reimburse the Fund for certain fees
and expenses. Accordingly, the table on page
2 of this Prospectus is revised as follows:
ANNUAL OPERATING EXPENSES*:
Total
Management Other Operating
Fee** Expenses Expenses
0.13% 0.55% 0.68%***
* 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 waived its fee. These
figures do not reflect the impact of
additional expense limitations and
reimbursements which the Administrator may
have in place. See "Management of the Fund
and Portfolio."
**Management fee is paid at the Portfolio
level to the Portfolio's Adviser, Morgan
Guaranty Trust Company of New York.
***Total Operating Expenses reflect the
current waiver of the Fund's administrative
fees, but do not include any expense
reimbursements that the Fund Administrator may
choose to make. In the absence of the
Administrative fee waiver, 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. As
discussed above, actual expenses may be lower
due to additional expense limitations and
reimbursements made by the Administrator.
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.
June 4, 1996
