AON Asset Management Fund, Inc.
Flexible Asset Allocation Portfolio
Supplement Dated December 21, 1995 to
Prospectus Dated June 20, 1995
The section of the prospectus captioned Investment Advisor which is found on
page 14 is hereby amended by the addition of the following information:
Effective December 26, 1995 Mr. John G. Lagedrost, Senior
Portfolio Manager of AAI, will replace Mr. Rimas Milaitis as
the portfolio manager of the Flexible Asset Allocation
Portfolio. Mr. Lagedrost has been employed by AAI since April
1995. Prior to joining AAI Mr. Lagedrost was employed by The
First National Bank of Chicago ("First Chicago") from 1979 to
1995. His final position at First Chicago was that of Vice
President in the Asset Management Group (from 1991--1995)
where he was responsible for the management of a portfolio of
loans, leases and certain private equity securities. Prior to
that position, he was Vice President in First Chicago's
Mezzanine Finance Group (1987--1990) and managed privately
placed subordinated debt investments which contained equity
features. Mr. Lagedrost holds a B.S. degree from Marquette
University and a Masters of Management degree from
Northwestern University.
