MARINER MUTUAL FUNDS TRUST, 497, 1996-06-19

MARINER MUTUAL FUNDS TRUST
497, 1996-06-19

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                                             Rule 497(e)
                                             Reg. Nos. 33-33734
                                             811-6057

                         HSBC MUTUAL FUNDS TRUST

                      SHORT-TERM U.S. GOVERNMENT FUND
                             FIXED INCOME FUND
                                (the "Funds")

                                                         
SUPPLEMENT DATED JUNE 19, 1996
      TO PROSPECTUS DATED APRIL 24, 1996


     The following is a Supplement to the Funds' prospectus dated
April 24, 1996 (the "Prospectus").  This Supplement should be
read in conjunction with the section in the Funds' Prospectus
entitled "Management of the Funds."

     Effective June 13, 1996, Mr. James Lark, Director, HSBC
Americas' Taxable Fixed Income Products, is responsible for the
day-to-day management of the Short-Term U.S. Government and Fixed
Income Funds' portfolios, replacing Mr. David Fox.  Mr. Lark
joined HSBC Americas in 1986 and is responsible for managing
institutional and retail fixed income portfolios.  


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