<PAGE>
UAM FUNDS, INC.
ENHANCED MONTHLY INCOME PORTFOLIO
INSTITUTIONAL CLASS SHARES
SUPPLEMENT DATED MAY 2, 1996 TO THE PROSPECTUS DATED FEBRUARY 29, 1996
FINANCIAL HIGHLIGHTS
(Unaudited)
The following table provides financial highlights for the Enhanced Monthly
Income Portfolio (the "Portfolio") throughout the period presented and is part
of the Portfolio's unaudited financial statements for the period ended March 31,
1996 which is included in the Portfolio's Statement of Additional Information.
The Statement of Additional Information and the financial statements therein are
available at no cost and can be requested by writing to the address or calling
the telephone number on the cover of the Prospectus. The following should be
read in conjunction with the financial statements including the notes thereto.
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<CAPTION>
November 15, 1995**
to March 31, 1996
(Unaudited)
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<S> <C>
NET ASSET VALUE, BEGINNING OF PERIOD . . . . . . . . . . . . $10.00
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INCOME FROM INVESTMENT OPERATIONS
Net Investment Income. . . . . . . . . . . . . . . . . . . 0.26+
Net Realized and Unrealized Gain . . . . . . . . . . . . . 0.14
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Total from Investment Operations . . . . . . . . . . . . . 0.40
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DISTRIBUTIONS
Net Investment Income. . . . . . . . . . . . . . . . . . . (0.11)
In Excess of Net Realized Gain . . . . . . . . . . . . . . -
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Total Distributions . . . . . . . . . . . . . . . . . . (0.11)
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NET ASSET VALUE, END OF PERIOD . . . . . . . . . . . . . . . $10.29
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TOTAL RETURN . . . . . . . . . . . . . . . . . . . . . . . . 4.03%++
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RATIOS AND SUPPLEMENTAL DATA
Net Assets, End of Period (Thousands). . . . . . . . . . . . $1,948
Ratios After Expense Limitations:
Expenses to Average Net Assets . . . . . . . . . . . . . . 1.00%*
Net Investment Income to Average Net Assets. . . . . . . . 7.10%*
Ratios Before Expense Limitations:
Expenses to Average Net Assets . . . . . . . . . . . . . . 4.53%*
Net Investment Income to Average Net Assets. . . . . . . . 3.60%*
Portfolio Turnover Rate. . . . . . . . . . . . . . . . . . . 123%
Average Brokerage Commission Ratio . . . . . . . . . . . . . 0.0242
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* Annualized
** Commencement of Operations
+ Net of voluntarily waived fees and reimbursed expenses for the period ended
March 31, 1996 of $0.13 per share.
++ Total return would have been lower had the Adviser not waived and assumed
certain expenses during the period.
