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UAM Funds
Funds for the Informed Investorsm
Cambiar Opportunity Portfolio
Institutional Class Shares
Supplement dated January 3, 2001
to the Prospectus dated August 28, 2000
The third sentence under the section titled "What are the Fund's
Objectives?" is hereby deleted and replaced with the following: "The portfolio
may change its investment objectives without shareholder approval."
Under the section "Investment Management-Investment Adviser" the following
should be added. United Asset Management Corporation is a wholly owned
subsidiary Old Mutual Plc. a United Kingdom based financial services group.
The information under the section of the portfolio's prospectus titled
"Adviser's Historical Performance" is hereby deleted in its entirety.
Therefore, investors should not consider this information when making
investment decisions.
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UAM Funds
Funds for the Informed Investorsm
Chicago Asset Management Intermediate Bond Portfolio
Chicago Asset Management Value/Contrarian Portfolio
Institutional Class Shares
Supplement dated January 3, 2001
to the Prospectus dated August 28, 2000
Under the section titled "Investment Management-Investment Adviser" the
following should be added: "United Asset Management Corporation is a wholly-
owned subsidiary of Old Mutual plc., a United Kingdom based financial services
group."
At a special shareholders meeting held on November 17, 2000, the
shareholders of Chicago Asset Management Intermediate Bond Portfolio, a series
of UAM Funds Trust, approved the dissolution and liquidation of the Chicago
Asset Management Intermediate Bond Portfolio pursuant to a Plan of Dissolution
and Liquidation. As a result, Chicago Asset Management Intermediate Bond
Portfolio is closed to investment.
At the December 14, 2000 meeting of the Board of Trustees of UAM Funds
Trust, the Board was informed by representatives of Chicago Asset Management
Company ("CAMCO") that certain senior officers had entered into an agreement
with Old Mutual plc, United Asset Management Corporation's parent company, to
acquire CAMCO from Old Mutual plc. (the "Transaction").
The closing of the Transaction is expected to take place the first quarter
of 2001 and is subject to a number of conditions. Once the Transaction has
closed, CAMCO will serve as the Fund's investment adviser pursuant to an
interim investment advisory agreement until the Fund's shareholders approve a
new advisory agreement with CAMCO. The Board has called a shareholders'
meeting for January 31, 2001 to seek shareholder approval of the new
investment advisory agreement with CAMCO. The new agreement will be identical
to the current agreement in all respects except for its effective and
termination dates. The new agreement will have no effect on the contractual
advisory fee rate payable by the Fund. No changes are currently planned which
would affect the services being provided to the Fund.
The information under the section of the portfolio's prospectus titled
"Adviser's Historical Performance" is hereby deleted in its entirety.
Therefore, investors should not consider this information when making
investment decisions.
UAM LOGO HERE
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UAM FUNDS
Funds for the Informed Investorsm
PIC Twenty Portfolio
Institutional Class Shares
Supplement dated January 3, 2001
to the Prospectus dated August 28, 2000
Under the section titled "Investment Management-Investment Adviser," the
following should be added: "United Asset Management Corporation is a wholly-
owned subsidiary Old Mutual plc., a United Kingdom based financial services
group."
The information under the section of the portfolio's prospectus titled
"Adviser's Historical Performance" is hereby deleted in its entirety.
Therefore, investors should not consider this information when making
investment decisions.
UAM LOGO HERE
