High Yield Fund

J.P. Morgan Investment Management Inc.

J.P. Morgan Investment Management Inc. (“J.P. Morgan”), located at 522 Fifth Avenue, New York, New York, is the subadvisor for the Managers High Yield Fund.  J.P. Morgan is an indirect wholly-owned subsidiary of J.P. Morgan Chase & Co., a publicly held bank holding company and global financial services firm.

Portfolio Managers

J.P. Morgan utilizes a team approach led by Robert L. Cook, CFA and Thomas G. Hauser, CFA, in managing the Fund’s investment operations.

Robert Cook
Managing Director and Portfolio Manager
Robert Cook is a managing director and a portfolio manager at J.P. Morgan. Prior to joining J.P. Morgan in 2004, he was co-head of the fixed income investment process at 40|86 Advisors where he was responsible for managing high yield total return assets, as well as serving as the Director of Credit Research where he managed the firm’s 16 fixed income research analysts. Before joining 40|86 Advisors in April of 1994, he worked at PNC Bank’s investment banking division in Pittsburgh where he was involved with syndicated loans, M&A, private placements and structured products.

Thomas G. Hauser, CFA
Vice President and Portfolio Manager
Thomas G. Hauser, CFA, is a Vice President of, and a portfolio manager for, J.P. Morgan. Prior to joining J.P. Morgan in 2004, he was a Vice President of, and a portfolio manager for, 40|86 Advisors, Inc. (formerly Conseco Capital Management) from 2001 to 2004. Prior to joining 40|86 Advisors, Inc., he was a Vice President of and a portfolio manager for Van Kampen Investments from 1993 to 2001.

Disclosure
Investors should carefully consider the fund's investment objectives, risks, charges, and expenses before investing. For this and other information, please call 800.835.3879 or download a free prospectus. Read it carefully before investing or sending money.

The performance shown represents past performance and is not a guarantee of future results. Current performance may be lower or higher than the performance data quoted. The investment return and the principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. From time to time the advisor has waived fees or reimbursed expenses, which may have resulted in higher returns. The listed returns and yields on the Fund are net of expenses and the returns and yields on the indices exclude expenses. Current performance of the Fund may be lower or higher than the performance quoted.