ALAMEDA-CONTRA COSTA MEDICAL ASSOCIATION COLLECTIVE
INVESTMENT TRUST FOR RETIREMENT PLANS
SUPPLEMENT DATED DECEMBER 31, 1996 TO PROSPECTUS AND
STATEMENT OF ADDITIONAL INFORMATION DATED APRIL 30, 1996
Effective December 31, 1996, the Investment Management Agreement
between The Burridge Group Inc. ("Burridge Inc") and the Trust,
on behalf of the Growth Equity Portfolio, was terminated, and the
Trust entered into a new Investment Management Agreement (the
"New Agreement") with The Burridge Group LLC ("Burridge LLC").
Burridge LLC is the successor to Burridge Inc, which commenced
business as an investment adviser in 1986 and managed
approximately $1.3 billion in investments as of October 31, 1996.
It is contemplated that Burridge LLC will also be the investment
adviser for Burridge Capital Development Fund, a registered
investment company. Burridge LLC is indirectly majority owned by
Affiliated Managers Group, Inc. ("AMG"), a private holding
company which invests in mid-sized investment management firms.
AMG, in turn, may be deemed to be controlled by investment funds
associated with TA Associates, Inc., a private equity firm based
in Boston, Massachusetts.
Christopher Fleming, a Senior Vice President and Portfolio
Manager of Burridge LLC, has been primarily responsible for the
day-to-day management of the Growth Equity Portfolio since 1995.
Mr. Fleming joined Burridge Inc in 1994 and was an analyst and
portfolio manager with Harris Associates, L.P., from 1990 to
1994.
Under the New Agreement, the Growth Equity Portfolio pays
Burridge LLC an investment management fee at the annual rate of
.75% of the first $10 million of assets, .625% of the next $10
million, .50% of the next $20 million, .375% of the next $20
million, and .25% of the next $40 million. The fee on any assets
in excess of $100 million is subject to negotiation and
Unitholder approval. The fee is paid at the end of each quarter
based on assets at the beginning of the quarter.
The New Agreement remains in effect until April 1, 1998, and may
be continued or terminated as provided in the Statement of
Additional Information.
