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SUPPLEMENT TO PROSPECTUS FOR
MANUFACTURERS INVESTMENT TRUST
DATED MAY 1, 1999
PORTFOLIO MANAGERS
Real Estate Securities Trust and Equity Index Trust
Mark Schmeer and Leslie Grober no longer manage the Real Estate
Securities Trust. Robert Lutzko and Brett Hyrb have been appointed as portfolio
managers. Mr. Lutzko joined MAC in 1995. He is an investment manager of U.S.
Equities at Manulife Financial. Prior to 1995, Mr. Lutzko worked for OMERS, one
of the largest retirement funds in Canada. He also worked for Workers
Compensation Board where he served as portfolio manager for U.S. Small Cap
Investments, and portfolio manager for U.S. Large Cap Equities. A Chartered
Financial Analyst, Mr. Lutzko graduated from Sheridan College. Mr. Hyrb joined
MAC in 1996. He is a research analyst, U.S. Equities specializing in equity
index portfolios. Prior to joining MAC, he worked for Global Accounting at
Elliott & Page, an affiliate of MAC. A Chartered Financial Analyst, Mr. Hryb
earned a bachelor's degree from McMaster University. Mr. Lutzko has replaced Mr.
Grober as manager of the Equity Index Trust as well. Mr. Hyrb continues to
manage this portfolio.
Mid Cap Growth Trust
Christopher Perras has joined the management team for the Mid Cap
Growth Trust. Mr. Perras, Portfolio Manager, has been associated with A I M
Capital Management, Inc. and/or its affiliates since 1999. From 1997 to 1999, he
was an equity analyst at Van Wagoner Capital Management. From 1995 to 1997, he
was Associate Portfolio Manager for Van Kampen American Capital Asset
Management, Inc. Mr. Perras earned a BS in electrical engineering from the
Georgia Institute of Technology and an MBA from Harvard Graduate School of
Business Administration. He is a Chartered Financial Analyst and a Chartered
Financial Consultant.
Aggressive Growth Trust
Ryan Crane has joined the management team for the Aggressive Growth
Trust. Mr. Crane, Portfolio Manager, has been associated with A I M Capital
Management, Inc. and/or its affiliates since 1994. A Chartered Financial
Analyst, Mr. Crane earned a BS with honors in economics from the University of
Houston.
International Small Cap Trust
Michael Gerding who has been the lead portfolio manager for the
International Small Cap Trust no longer manages this portfolio. Tracy P.
Stouffer has been appointed as lead portfolio manager. Ms. Stouffer, Vice
President of Investments, joined Founders in 1999. Prior to joining Founders,
she was a vice president and portfolio manager with Federated Global
Incorporated from 1995 to July 1999, and a vice president and portfolio manager
with Clariden Asset Management Inc. from 1988 to 1995. A graduate of Cornell
University, Ms. Stouffer received an MBA with a concentration in marketing from
the University of Western Ontario, Canada. She is also a Chartered Financial
Analyst.
Mid Cap Blend Trust
Katherine Collins, portfolio manager of the Mid Cap Blend Trust, will
be stepping down as manager on August 2, 1999. She will be pursuing other
interests at Fidelity and taking a position within the Fidelity Foundation,
which represents Fidelity's philanthropic interests. Mr. Bahaa Fam will be
joining Richard Fentin as portfolio manager of the Mid Cap Blend Trust. Mr. Fam
is Director of Quantitative Research for Fidelity Management & Research Company,
a division of Fidelity Investments. He directs a team of research analysts in
the design of novel methods for stock selection and portfolio construction and
serves as an advisor on portfolio strategy and asset allocation for Fidelty's
funds. He also directly manages several U.S. equity (sub)portfolios. Prior
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to joining Fidelity, Mr. Fam was Managing Director and Consulting Scientist for
the MITRE Corporation where he directed a broad range of research activities.
Growth Trust
Peter Wiley who has been the lead portfolio manager for the Growth
Trust no longer manages this portfolio. Dean Barr has been appointed as lead
portfolio manager and Peter Stonberg also continues to manage the portfolio. In
addition, Richard Weed has joined the management team for the Growth Trust. Mr.
Weed is a principal at SSgA and a senior Portfolio Manager in the U.S. Active
Equity group. His responsibilities include portfolio management, product
development, and research for the U.S. Active Equity strategies. Mr. Weed also
created and manages the U.S. Aggressive Growth Strategy. He joined SSgA in 1994
in the Credit and Risk Policy Area where he was responsible for quantifying
market risk for the corporation across equity, bond, and foreign exchange
positions.
U.S. Large Cap Value Trust and Income & Value Trust
Terry Berkemeier has joined the management team for the U.S. Large Cap
Value Trust and the Income & Value Trust. Mr. Berkemeier is a Vice President and
portfolio manager for CGTC. He joined the Capital Group organization in 1992.
ADVISORY ARRANGEMENTS
The following replaces the fourth paragraph (except for the last
sentence) found in the Trust's Prospectus under the heading "Management of the
Trust - Advisory Arrangements."
As compensation for its services, the Adviser receives a fee from the
Trust computed separately for each portfolio, except for the Lifestyle Trusts
for which the Adviser receives no fee. The fee for each portfolio is stated as
an annual percentage of the current value of the net assets of the portfolio.
The fee, which is accrued daily and payable daily, is calculated for each day by
multiplying the daily equivalent of the annual percentage prescribed for a
portfolio by the value of the net assets of the portfolio at the close of
business on the previous business day of the Trust.
BALANCED TRUST
The following replaces the third bullet found in the Trust's Prospectus
under the heading "Balanced Trust- Principal Risks of Investing in this
Portfolio."
o The portfolio will invest at least 25% of its assets in investment grade
fixed income securities. Investment grade fixed income securities in the
lowest rating category involve more risk than these securities in the
higher rating categories as described under "Risks of Investing in Certain
Types of Securities."
THE DATE OF THIS SUPPLEMENT IS SEPTEMBER 8, 1999.
