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SUPPLEMENT TO PROSPECTUS FOR
MANUFACTURERS INVESTMENT TRUST
DATED MAY 1, 1999
PORTFOLIO MANAGERS
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 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,
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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 JULY 26, 1999.
