  The {\em around-mean-field} LSDA+U correlated band theory is applied to
investigate the electronic and magnetic structure of $fcc$-Pu-Am alloys.
Despite a lattice expansion caused by the Am atoms, neither tendency to 5$f$
localization nor formation of local magnetic moments on Pu atoms in Pu-Am
alloys are found. The $5f$-manifolds in the alloys are calculated being very
similar to a simple weighted superposition of elemental Pu and Am $5f$-states.
