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UAM FUNDS ICM FIXED INCOME PORTFOLIO INSTITUTIONAL CLASS SHARES Supplement dated September 11, 1997 to the Prospectus dated January 3, 1997 The information under the heading "INVESTMENT POLICIES" on page 7 is amended to reflect that the Adviser may invest up to 10% of the Portfolio's assets in fixed income securities rated Baa/BBB by both Standard & Poor's Corporation and Moody's Investors Services, Inc.
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