UAM FUNDS
DSI PORTFOLIOS
INSTITUTIONAL CLASS SHARES
DSI Disciplined Value Portfolio
DSI Limited Maturity Bond Portfolio
DSI Money Market Portfolio
DSI Balanced Portfolio
Supplement dated October 24, 1996 to the Prospectus dated February 29, 1996
as supplemented June 28, 1996 and July 3, 1996
The information under the heading "REDEMPTION OF SHARES" on page
18 of the Prospectus is supplemented as follows:
In addition to redeeming shares by mail or telephone, a
shareholder of the DSI Money Market Portfolio may redeem
shares by check at any time, without cost, at the net asset
value per share of the Portfolio next determined after
receipt of the redemption request. No charge is made for
redemptions. Any redemption may be more or less than the
purchase price of your shares depending on the market value
of the investment securities held by the Portfolio.
The following information is added to the section "REDEMPTION OF
SHARES:"
BY CHECK
You may redeem shares of the DSI Money Market
Portfolio by check drawn on your Fund account. Checks must
be for amounts of $500 or more. You will continue to earn
dividends on the shares to be redeemed until the check
clears at The Chase Manhattan Bank.
Checks are supplied free of charge, and additional
checks are sent to you upon request. Checks will be sent
only to the registered owner at the address of record. If
you want the option of redeeming shares by check, you must
indicate this on the Optional Service Form accompanying the
Account Registration Form and submit a signature card with
signatures guaranteed with such Forms. In order to arrange
for redemption by check after an account has been opened, a
written request must be sent to UAM Funds Service Center at
the address listed under "REDEMPTION OF SHARES - BY MAIL"
and must be accompanied by a signature card with signatures
guaranteed (see "SIGNATURE GUARANTEES").
Stop payment instructions with respect to checks may
be given to the UAM Funds Service Center. If there are
insufficient shares in your account with the Fund to cover
the amount of the redemption check, the check will be
returned marked "insufficient funds," and your account will
be charged a fee of $25.00. Checks may not be used to
close an account.
If any portion of the shares to be redeemed represents
an investment made by personal check, the Fund reserves the
right not to honor the redemption until it is reasonably
satisfied that the check has been collected in accordance
with the applicable banking regulations which may take up
to 15 days. If you anticipate the need for more immediate
access to your investment, you should purchase shares by
Federal funds or bank wire or by certified or cashier's
check. Banks normally impose a charge in connection with
the use of bank wires, as well as certified checks,
cashier's checks and Federal funds. If your purchase check
is not collected, the purchase will be cancelled and your
account will be charged a fee of $25.00.
