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<PAGE>
THE OFFITBANK INVESTMENT FUND, INC.
Supplement dated August 12, 1996 to
Prospectus dated May 1, 1996
FINANCIAL HIGHLIGHTS
(unaudited)
The table of "Financial Highlights (unaudited) for a share of
capital stock outstanding through the period ended June 30, 1996"
below supplements the unaudited financial statements of OFFITBANK
Latin America Total Return Fund a portfolio of The OFFITBANK
Investment Fund, Inc. contained in the Statement of Additional
Information and sets forth certain information regarding the
investment operations of the Fund for the period presented.
OFFITBANK LATIN AMERICA TOTAL RETURN FUND
<TABLE>
<CAPTION>
FOR THE PERIOD
FOR A SHARE OF CAPITAL FEBRUARY 13, 1996*
STOCK OUTSTANDING THROUGH THE PERIOD: THROUGH JUNE 30, 1996
<S> <C>
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PER SHARE OPERATING PERFORMANCE:
NET ASSET VALUE, BEGINNING OF PERIOD $10.00
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Net investment income 0.08
Net realized and unrealized gains on investments 0.78
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Total from investment operations 0.86
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Less dividends and distributions from:
Net investment income (0.08 )
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Total dividends and distributions (0.08 )
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NET ASSET VALUE, END OF PERIOD $10.78
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TOTAL INVESTMENT RETURN+ 8.68 %
RATIOS/SUPPLEMENTAL DATA:
Net assets, end of period (in thousands) $4,959
RATIOS TO AVERAGE NET ASSETS:
Expenses 2.00 %(1)(2)
Net investment income 1.67 %(1)
PORTFOLIO TURNOVER RATE 43 %
</TABLE>
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* Commencement of operations.
(1) Annualized.
(2) If the Fund had borne all expenses that were assumed or waived by the
Advisor and Administrator, the above annualized expense ratio would have
been 4.66%.
+ Total return is based on the change in net asset value during the period and
assumes reinvestment of all dividends and distributions.
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