THE MANAGERS FUNDS
INCOME FUNDS
Supplement dated October 1, 1997
to Prospectus dated April 1, 1997
The prospectus is hereby supplemented as follows:
Income Funds' Annual Operating Expenses: (based on average
daily net assets during fiscal 1996, after expense
reimbursements)
Fund Total
Manageme Other Operatin
nt Fee* Expenses g
** Expenses
**
Short Government Fund 0.20% 1.13% 1.33%
Short and Intermediate Bond Fund 0.50% 0.99% 1.49%
Intermediate Mortgage Fund 0.45% 0.77% 1.22%
Bond Fund 0.625% 0.75% 1.38%
Global Bond Fund 0.70% 0.92% 1.62%
_____
* The management fees reflect the fees payable by each
Fund under the current investment advisory agreements,
except that in the case of the Short Government Fund,
the management fee also reflects a voluntary fee waiver
by the Manager. In the absence of such waiver, the
management fee for this Fund would be 0.45%.
** Other expenses reflect the expenses actually incurred
by each Fund during the year ended December 31, 1996.
Restated to reflect new transfer agency arrangements in
effect October 1, 1997. The expenses shown do not
reflect current asset levels for the Funds or the fund
family, and are not necessarily indicative of current
expense ratios. With respect to the Short Government
Fund, where no administrative fee is currently being
charged, such expenses reflect a voluntary waiver of
administrative fees by the Manager. In the absence of
all such waivers, other expenses would be 1.33% and the
total operating expenses would be 1.78%. See
"Management of the Funds-Administration and Shareholder
Servicing; Distributor; Transfer Agent."
These fee waivers may be modified or terminated at anytime
at the sole discretion of the Manager. Shareholders will be
notified of any such modification or termination at the time
it becomes effective.
Accordingly, the figures under the heading Examples, are
hereby updated as follows:
Fund 1 3 5 10
year years years years
Short Government Fund $14 $42 $73 $160
Short and Intermediate Bond Fund 15 47 81 178
Intermediate Mortgage Fund 12 39 67 148
Bond Fund 14 44 76 166
Global Bond Fund 16 51 88 192
October 1, 1997
