SUNAMERICA EQUITY FUNDS
Supplement to the Prospectus dated January 12, 1996
The second paragraph under the sub-heading "Portfolio
Managers" on page 21 of the Prospectus is revised as the following:
Stanton J. Feeley has served as 1) portfolio manager
of the Balanced Assets Fund and Blue Chip Growth Fund
since February 1992 and 2) portfolio manager of the
domestic equity component of the Global Balanced Fund
since the inception date of June 15, 1994, and served as
portfolio manager of the Growth and Income Fund from the
inception date of July 1, 1994 to July 1996. Mr. Feeley
is an Executive Vice President of the Adviser and serves
as the firm's Chief Investment Officer. Prior to joining
the Adviser in February 1992, Mr. Feeley was Senior
Portfolio Manager for Delaware Management Company, Inc.
The first three sentences of the sixth paragraph under the
sub-heading "Portfolio Managers" on page 21 of the Prospectus are
replaced with the following:
Gerald P. Sullivan, formerly assistant portfolio
manager of the Growth and Income Fund, assumed full
responsibility for the portfolio management of the Fund
effective July 2, 1996. Prior to joining the Adviser as
an equity analyst in February 1995, Mr. Sullivan spent
two years as a portfolio manager for Texas Commerce
Investment Management.
The last paragraph under the sub-heading "Portfolio Managers"
on page 22 of the Prospectus is replaced with the following:
David J. Leary, who had served as a co-portfolio
manager for the foreign equity component of the Global
Balanced Fund since the inception date of June 15, 1994,
assumed full responsibility for the portfolio management
of the Fund effective May 17, 1996. Mr. Leary, Senior
Investment Manager of AIG Global Investment Corp.
(Europe) Ltd., is responsible for implementing the
investment decisions made by AIG Global's Investment
Committee relating to asset allocation, strategy and
currency management. Mr. Leary has been a portfolio
manager for AIG Global Investment Corp. (Europe) Ltd.
since 1988.
July 19, 1996
