FIRST AMERICAN INVESTMENT FUNDS, INC.
EQUITY FUNDS -- INSTITUTIONAL CLASS
SUPPLEMENT DATED AUGUST 21, 1995 TO PROSPECTUS DATED JANUARY 31, 1995
LIMITED VOLATILITY STOCK FUND
Effective immediately, no new investments will be accepted by Limited Volatility
Stock Fund except from existing 401(k) plan investors until new investment
elections are made. Management is considering proposing the merger or other
discontinuation of this Fund. Meanwhile, existing investors may continue to have
their dividends and capital gain distributions reinvested in shares of this
Fund.
