THE MANAGERS FUNDS
EQUITY FUNDS
Supplement dated October 21, 1998
to Prospectus dated May 1, 1998
The following information supersedes that
contained in the Prospectus solely with respect
to the following Fund:
Capital Appreciation Fund
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Effective October 15, 1998, Roxbury
Capital Management, LLC ("Roxbury"), a
Delaware Limited Liabilty Company, will
replace Husic Capital Management as an Asset
Manager of the Capital Appreciation Fund.
Roxbury will be paid the same fee as the other
asset manager on the Fund, 0.40% per annum of
the average daily net assets that Roxbury
manages. Roxbury Capital Management ("RCM"),
a California corporation, was founded in 1986.
In order to facilitate a strategic
partnership with WT Investments, Inc. ("WTI")
on July 31, 1998, a subsidiary of Wilmington
Trust Company and a wholly-owned subsidiary of
Wilmington Trust Corporation, RCM transferred
its assets to Roxbury.
As of September 30, 1998, assets under
management totaled approximately $4.5 billion.
Roxbury's address is 100 Wilshire Boulevard,
Suite 600, Santa Monica CA 90401.
Kevin P. Riley serves as the portfolio
manager of the portion of the Capital
Appreciation Fund managed by Roxbury. Mr.
Riley has been a Senior Managing Director and
Senior Portfolio Manager of Roxbury since
inception, and was named Chief Investment
Officer in 1997.
October 21, 1998
