The Advisors Fund L.P.
Supplement to Prospectus dated March 1, 1994
The following information updates the disclosure found in the Prospectus
of The Advisors Fund L.P. (the "Fund") under "Management of the Fund:"
Effective June 2, 1994, Smith, Barney Advisers, Inc. ("Smith Barney Advisers")
will serve as the Fund's administrator and The Boston Company Advisors, Inc.
("Boston Advisors") will serve as the Fund's sub-administrator. On June 2,
1994, the Fund's Individual General Partners approved a new administration
agreement with Smith Barney Advisers containing substantially the same terms
and conditions, including the level of fees, as the current agreement. Smith
Barney Advisers, among other responsibilities, provides senior executive
management for the Fund and generally oversees and directs all aspects of the
Fund's administration and operation. The Board also approved a sub-
administration agreement with Boston Advisors. Boston Advisors, among other
responsibilities, calculates the net asset value of the Fund's shares and
generally assists in various aspects of the Fund's administration and
operation. Under the arrangements, Boston Advisors will be paid a portion of
the amount paid by the Fund to Smith Barney Advisers at a rate as agreed upon
from time to time between Smith Barney Advisers and Boston Advisors.
_________________
Dated June 16, 1994.
FD
advisors\filings\sec\adminstk.doc
