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MANAGED ACCOUNTS SERVICES PORTFOLIO TRUST
SUPPLEMENT TO PROSPECTUS DATED JUNE 21, 1995
The following replaces the first sentence appearing under the caption "Other
Investment Policies and Risk Factors - Illiquid Securities" on page 41 of the
Prospectus:
PACE Global Fixed Income Investments, PACE Small/Medium Company Value Equity
Investments, Pace International Equity Investments and PACE International
Emerging Markets Equity Investments may each invest up to 15% of its net assets
in illiquid securities; PACE Money Market Investments, PACE Government
Securities Fixed Income Investments, PACE Intermediate Fixed Income Investments,
PACE Strategic Fixed Income Investments, PACE Municipal Fixed Income
Investments, PACE Large Company Value Equity Investments, PACE Large Company
Growth Equity Investments and PACE Small/Medium Company Growth Equity
Investments may each invest up to 10% of its net assets in illiquid securities.
The following replaces the last two sentences appearing under the caption
"Management--Advisers--PACE Large Company Growth Equity Investments" on page 48
of the Prospectus:
Effective July 17, 1995, Patricia W. Chadwick, will be primarily responsible
for the day-to-day management of PACE Large Company Growth Equity Investments.
Ms. Chadwick has been a managing director of Chancellor since 1987 and a senior
portfolio manager for growth equity and balanced accounts at Chancellor since
1982. In addition, Ms. Chadwick is head of Chancellor's Equity Strategy
Committee. Ms. Chadwick has been with Chancellor and its predecessor, Citicorp
Investment Management, Inc., since 1980.
Dated: September 7, 1995
THIS SUPPLEMENT SUPERSEDES AND REPLACES THE SUPPLEMENT
DATED JULY 20, 1995.
