FUND MANAGER TRUST
FINANCIAL ADVISER CLASS
AGGRESSIVE GROWTH FUND
GROWTH FUND
GROWTH & INCOME FUND
BOND FUND
MANAGED TOTAL RETURN FUND
Supplement to the Prospectus
Dated January 29, 1996
The following replaces the information relating to the Fund Expenses on page 3
of the Funds' Prospectus:
FUND EXPENSES
The following table illustrates the estimated expenses and fees that a
shareholder of each Fund will incur.
<TABLE>
<S> <C> <C> <C> <C> <C>
Growth Managed
Aggressive & Total
GROWTH GROWTH INCOME BOND RETURN
ANNUAL FUND OPERATING EXPENSES
(as a percentage of average net assets)
Advisory Fees .50% .50% .50% .50% .50%
Distribution (Rule 12b-1) Fees* .47 .45 .45 .46 .49
Total Other Expenses .56 .64 .52 .39 .98
---- ---- ---- ---- ---
Administrative Fees (after waiver) .13 .13 .13 .13 .13
Other Expenses .43 .51 .39 .26 .85
Total Fund Operating Expenses 1.53% 1.59% 1.47% 1.35% 1.97%
(after waiver) ===== ===== ===== ===== =====
</TABLE>
*Under rules of the National Association of Securities Dealers, Inc. (the
"NASD"), a 12b-1 fee may be treated as a sales charge for certain purposes under
those rules. Because the 12b-1 fee is an annual fee charged against the assets
of a Fund, long-term shareholders may indirectly pay more total sales charges
than the economic equivalent of the maximum front-end sales charge permitted by
rules of the NASD. See "Management of the Trust-The Distributors" on p.24 of the
Prospectus.
The purpose of this table is to assist the shareholder in understanding the
various costs and expenses that an investor in the Fund will bear. The above
table reflects a waiver by Signature Broker-Dealer Services, Inc. as
administrator (the "Administrator") of the Trust, of a portion of its
administrative service fees such that, following such waiver, the Administrator
receives administrative service fees from each fund equal on an annual basis to
0.13% of the Fund's average daily net assets. Without this waiver, each Fund's
(except Bond Fund) administrative service fees would be equal on an annual basis
to 0.25% and Bond Fund's would be equal on an annual basis to 0.23%. "Total
Operating Expenses" would be equal to 1.65%, 1.71%, 1.59%, 1.45% and 2.09%,
respectively, in each case of that Fund's average daily net assets. See
"Management of FundManager Funds - The Administrator."
EXAMPLE
You would pay the following expenses on a $1,000 investment, assuming
(1) 5% gross annual return and (2) redemption at the end of each time period.
Growth Managed
Aggressive & Total
GROWTH GROWTH INCOME BOND RETURN
1 year $ 16 $ 16 $ 15 $ 14 $ 20
3 years 48 50 46 43 62
5 years 83 87 80 74 106
10 years 182 189 176 162 230
THIS EXAMPLE SHOULD NOT BE CONSIDERED A REPRESENTATION OF FUTURE
EXPENSES WHICH MAY BE MORE OR LESS THAN THOSE SHOWN. THE ASSUMED 5% ANNUAL
RETURN IS HYPOTHETICAL AND SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR
FUTURE ANNUAL RETURN; ACTUAL RETURN MAY BE GREATER OR LESS THAN THE ASSUMED
AMOUNT.
SUPPLEMENT DATED APRIL 5, 1996
<PAGE>
FUND MANAGER TRUST
NO-LOAD CLASS
AGGRESSIVE GROWTH FUND
GROWTH FUND
GROWTH & INCOME FUND
BOND FUND
Supplement to the Prospectus
Dated October 1, 1995
The following replaces the information relating to the Fund Expenses on page 3
of the Funds' Prospectus:
FUND EXPENSES
The following table illustrates the estimated expenses and fees that a
shareholder of each Fund will incur.
<TABLE>
<S> <C> <C> <C> <C>
Growth
Aggressive &
GROWTH GROWTH INCOME BOND
SHAREHOLDER TRANSACTION EXPENSES None None None None
Maximum Annual Program Fee (as a percentage
of average daily value of shares held) 1.20% 1.20% 1.20% 1.20%
ANNUAL FUND OPERATING EXPENSES
(as a percentage of average net assets) .50 .50 .50 .50
Advisory Fees
Distribution Fees .00 .00 .00 .00
Total Other Expenses .56 .64 .52 .39
---- ---- ---- ---
Administrative Fees (after waiver) .13 .13 .13 .13
Other Expenses .43 .51 .39 .26
Total Fund Operating Expenses (after waiver) 1.06% 1.14% 1.02% .89%
===== ===== ===== ====
</TABLE>
The purpose of this table is to assist the shareholder in understanding the
various costs and expenses that an investor in the Fund will bear. The above
table reflects a waiver by Signature Broker-Dealer Services, Inc. as
administrator (the "Administrator") of the Trust, of a portion of its
administrative service fees such that, following such waiver, the Administrator
receives administrative service fees from each fund equal on an annual basis to
0.13% of the Fund's average daily net assets. Without this waiver, each Fund's
(except Bond Fund) administrative service fees would be equal on an annual basis
to 0.25% and Bond Fund's would be equal on an annual basis to 0.23%. "Total
Operating Expenses" would be equal to 1.18%, 1.26%, 1.14% and 0.99%,
respectively, in each case of that Fund's average daily net assets. See
"Management of FundManager Funds - The Administrator."
EXAMPLE
You would pay the following expenses on a $1,000 investment, assuming
(1) 5% gross annual return and (2) redemption at the end of each time period.
Growth
Aggressive &
Growth Growth Income Bond
1 year $ 11 $ 12 $ 10 $ 9
3 years 34 36 32 28
5 years 58 63 56 49
10 years 129 139 125 110
THIS EXAMPLE SHOULD NOT BE CONSIDERED A REPRESENTATION OF FUTURE
EXPENSES WHICH MAY BE MORE OR LESS THAN THOSE SHOWN. THE ASSUMED 5% ANNUAL
RETURN IS HYPOTHETICAL AND SHOULD NOT BE CONSIDERED A REPRESENTATION OF PAST OR
FUTURE ANNUAL RETURN; ACTUAL RETURN MAY BE GREATER OR LESS THAN THE ASSUMED
AMOUNT.
SUPPLEMENT DATED APRIL 5, 1996
