MANAGERS CADENCE FOCUSED GROWTH FUND (Second Prospectus Summary) | MANAGERS CADENCE FOCUSED GROWTH FUND

Managers Cadence Focused Growth Fund

INVESTMENT OBJECTIVE

The Managers Cadence Focused Growth Fund's (the "Fund" or "Focused Growth Fund")
investment objective is to seek long-term growth of capital.

FEES AND EXPENSES OF THE FUND

The tables below describe the fees and expenses that you may pay if you buy and
hold shares of the Fund. You may qualify for sales charge discounts on Class A
shares if you or your family invest, or agree to invest, at least $25,000 in
Class A shares of funds offered by the Managers Family of Funds. More
information about these and other discounts is available from your financial
professional and in "Sales Charge Reductions and Waivers" on page 24 of the
Fund's prospectus and "Reductions and Waivers of Sales Charges" on pages 48-50
of the Fund's statement of additional information.

Shareholder Fees (fees paid directly from your investment)

Shareholder Fees MANAGERS CADENCE FOCUSED GROWTH FUND	Class A		Class C
Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price)	5.75%		none
Maximum Deferred Sales Charge (Load) (as a percentage of the lesser of the offering price or redemption proceeds)	1.00%	[1]	1.00%

Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment)

Annual Fund Operating Expenses MANAGERS CADENCE FOCUSED GROWTH FUND		Class A	Class C
Management Fee		0.45%	0.45%
Distribution and Service (12b-1) Fees		0.25%	1.00%
Other Expenses	[1]	0.87%	0.90%
Acquired Fund Fees and Expenses		0.01%	0.01%
Total Annual Fund Operating Expenses	[1][2]	1.58%	2.36%
Fee Waiver and Expense Reimbursements	[3]	(0.50%)	(0.50%)
Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursements	[1][2]	1.08%	1.86%

EXPENSE EXAMPLE

This Example will help you compare the cost of investing in the Fund to the cost
of investing in other mutual funds. The Example makes certain assumptions. It
assumes that you invest $10,000 as an initial investment in the Fund for the
time periods indicated and then redeem all of your shares at the end of those
periods. It also assumes that your investment has a 5% total return each year
and the Fund's operating expenses remain the same. The Example reflects the impact
of the Fund's contractual expense limitation through October 1, 2013.

Although your actual costs may be higher or lower, based on the above assumptions, your costs would be:

Expense Example MANAGERS CADENCE FOCUSED GROWTH FUND (USD $)	Expense Example, With Redemption, 1 Year	Expense Example, With Redemption, 3 Years	Expense Example, With Redemption, 5 Years	Expense Example, With Redemption, 10 Years
Class A	679	950	1,294	2,263
Class C	289	638	1,167	2,617

The figures shown above for Class A shares would be the same whether you sold your shares at the end of a period or kept them. For Class C shares, you would pay the following expenses if you did not redeem your shares:

Expense Example, No Redemption (USD $)	Expense Example, No Redemption, 1 Year	Expense Example, No Redemption, 3 Years	Expense Example, No Redemption, 5 Years	Expense Example, No Redemption, 10 Years
MANAGERS CADENCE FOCUSED GROWTH FUND Class C	189	638	1,167	2,617

PORTFOLIO TURNOVER

The Fund pays transaction costs, such as commissions, when it buys and sells
securities (or "turns over" its portfolio). A higher portfolio turnover rate may
indicate higher transaction costs and may result in higher taxes when Fund
shares are held in a taxable account. These costs, which are not reflected in
Annual Fund Operating Expenses or in the Example, affect the Fund's performance.
During the most recent fiscal year, the Fund's portfolio turnover rate was 83%
of the average value of its portfolio.

PRINCIPAL INVESTMENT STRATEGIES

Under normal circumstances, the Fund seeks to achieve its investment objective
by investing at least 65% of its net assets (plus borrowings made for investment
purposes) in common stocks of U.S. companies in the Russell 1000® Growth Index.
The Fund primarily invests in common stocks of large capitalization companies.
Cadence Capital Management LLC ("Cadence" or the "Subadvisor") employs a
"growth-at-a-reasonable-price" ("GARP") investment philosophy, allowing the team
to invest in companies that exhibit both growth and value characteristics. The
team ranks the stocks in this universe based on a series of growth criteria,
such as the change in consensus earnings estimates over time, the company's
history in meeting earnings targets, earnings quality, and improvements in
return on equity, and a series of value criteria, such as price-to-earnings
ratios and free cash flow relative to enterprise value. The Subadvisor then
subjects the most attractively ranked stocks in the universe to an analysis of
company factors, such as strength of management, competitive industry position
and business prospects, and financial statement data, such as earnings, cash
flows and profitability. At times, depending on market and other conditions, the
Fund may invest a substantial portion of its assets in a small number of
issuers, business sectors or industries. The Fund may invest a portion of its
assets in real estate investment trusts ("REITs"). Generally, the Fund will hold
between approximately 35-45 securities.

PRINCIPAL RISKS

There is the risk that you may lose money on your investment. All investments
carry a certain amount of risk and the Fund cannot guarantee that it will
achieve its investment objective. An investment in the Fund is not a deposit or
obligation of any bank, is not endorsed or guaranteed by any bank, and is not
insured by the Federal Deposit Insurance Corporation ("FDIC") or any other
government agency. Below are some of the risks of investing in the Fund.

Focused Investment Risk-a greater percentage of the Fund's holdings may be
focused in a smaller number of securities which may place the Fund at greater
risk than a more diversified fund.

Growth Stock Risk-growth stocks may be more sensitive to market movements
because their prices tend to reflect future investor expectations rather than
just current profits.

Large-Capitalization Stock Risk-the stocks of large-capitalization companies are
generally more mature and may not be able to reach the same levels of growth as
the stocks of small- or mid-capitalization companies.

Liquidity Risk-particular investments, such as illiquid securities, may not be
able to be sold at the price the Fund would like or the Fund may have to sell
them at a loss.

Market Risk-market prices of securities held by the Fund may fall rapidly or
unpredictably due to a variety of factors, including changing economic,
political, or market conditions.

Real Estate Industry Risk-investments in the Fund may be subject to many of the
same risks as a direct investment in real estate; in addition, equity REITs may
be affected by changes in the value of their underlying properties.

Sector Risk-companies or issuers that are in similar industry sectors may be
similarly affected by particular economic or market events; to the extent the
Fund has substantial holdings within a particular sector, the risks associated
with that sector increase. Stocks in the technology sector currently, and may in
the future, comprise a significant portion of the Fund's portfolio. The
technology industries may be affected by technological obsolescence, short
product cycles, falling prices and profits, competitive pressures and general
market conditions.

PERFORMANCE

The following performance information illustrates the risks of investing in the
Fund by showing changes in the Fund's performance from year to year and by
showing how the Fund's performance compares to that of a broad based securities
market index. Annual returns shown in the bar chart do not reflect front end or
deferred sales charges (loads), and if these amounts were reflected, returns
would be less than those shown. Maximum sales charges (loads) are reflected in
the annual returns table. As always, past performance of the Fund (before and
after taxes) is not an indication of how the Fund will perform in the future. To
obtain performance information for the Fund please visit www.managersinvest.com
or call 800.835.3879.

The performance information shown is that of the Fund's Class A shares and
includes historical performance of the Fund for periods prior to September 27,
2010, which was the date the Fund was reorganized from Allianz CCM Focused
Growth Fund to the Fund. The performance information shown in the table for
Class A and Class C shares of the Fund is based on the prior performance of the
Institutional Class shares (which are offered in a different prospectus) and has
been adjusted to reflect the higher operating expenses applicable to Class A and
Class C shares.

Calendar Year Total Returns as of 12/31/10 (Class A)

Best Quarter: 13.96% (3rd Quarter 2009)

Worst Quarter: -22.94% (4th Quarter 2008)

After-tax returns are calculated using the historical highest individual federal
marginal income tax rates and do not reflect the impact of state and local
taxes. Actual after-tax returns depend on an investor's tax situation and may
differ from those shown. After-tax returns are not relevant to investors who
hold their Fund shares through tax-deferred arrangements, such as 401(k) plans
or individual retirement accounts. After-tax returns are shown for Class A
shares only. After-tax returns for Class C shares will vary.

Average Annual Total Returns as of 12/31/10

Average Annual Total Returns MANAGERS CADENCE FOCUSED GROWTH FUND	Average Annual Returns, Label	Average Annual Returns, 1 Year	Average Annual Returns, 1 Year, Secondary	Average Annual Returns, 5 Years	Average Annual Returns, 5 Years, Secondary	Average Annual Returns, 10 Years	Average Annual Returns, 10 Years, Secondary	Average Annual Returns, Since Inception Secondary	Average Annual Returns, Inception Date Secondary
Class A	Class A Return Before Taxes	19.64%		(0.43%)		(3.92%)
Class A After Taxes on Distributions	Class A Return After Taxes on Distributions	19.14%		(0.60%)		(4.44%)
Class A After Taxes on Distributions and Sales	Class A Return After Taxes on Distributions and Sale of Fund Shares	12.76%		(0.43%)		(3.47%)
Class C	Class C Return Before Taxes	24.73%		(0.03%)		(4.07%)
Russell 1000 Growth Index	Russell 1000®Growth Index (reflects no deduction for fees, expenses, or taxes)	37.21%	16.71%	1.63%	3.75%	(3.99%)	0.02%	4.34%	Jul. 07, 2008

[1] For purchases of Class A shares of $1 million or more that are not assessed a sales charge at the time of purchase, you will be charged a 1% fee on shares redeemed or exchanged for shares not subject to an initial sales charge within the first 18 months of purchase.

[1] The amounts have been restated to reflect current fees and expenses, on an annualized basis, that the Fund has incurred since its reorganization into the Managers Cadence Focused Growth Fund on September 27, 2010.

[2] The Total Annual Fund Operating Expenses and Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursements do not correlate to the ratios of expenses to average net assets in the Financial Highlights section of the Fund's Prospectus, which reflect only the operating expenses of the Fund and do not include fees and expenses of any acquired fund.

[3] Managers Investment Group LLC ("Managers" or the "Investment Manager") has contractually agreed, through at least October 1, 2013, to waive management fees and/ or reimburse Fund expenses in order to limit Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursements (exclusive of taxes, interest (including interest incurred in connection with bank and custody overdrafts), shareholder servicing fees, distribution and service (12b-1) fees, brokerage commissions and other transaction costs, acquired fund fees and expenses, and extraordinary expenses) to 0.71% of the Fund's average daily net assets, subject to later reimbursement by the Fund in certain circumstances. In general, for a period of up to 36 months from the time of any waiver, reimbursement, or payment pursuant to the Fund's contractual expense limitation, the Investment Manager may recover from the Fund fees waived and expenses paid to the extent that such repayment would not cause the Fund's Total Annual Fund Operating Expenses After Fee Waiver and Expense Reimbursements to exceed the contractual expense limitation amount. Under such arrangement, if the maximum amount of shareholder servicing fees and distribution and service (12b-1) fees were charged to the classes under the current applicable plans, the total annual fund operating expenses (excluding the other items noted in the parenthetical above) of the Class A and Class C shares would be 1.11% and 1.86%, respectively, of the average daily net assets of such classes. The contractual expense limitation may only be terminated upon termination of the Fund's investment advisory agreement with the Investment Manager or by mutual agreement between the Investment Manager and the Fund's Board of Trustees.