<PAGE>
THE MUNDER FUNDS
SUPPLEMENT DATED JULY 6, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS A, B AND C SHARES OF:
MUNDER ACCELERATING GROWTH FUND, MUNDER BALANCED FUND, MUNDER GROWTH & INCOME
FUND, MUNDER INTERNATIONAL EQUITY FUND, MUNDER MICRO-CAP EQUITY FUND, MUNDER
MID-CAP GROWTH FUND, MUNDER MULTI-SEASON GROWTH FUND, MUNDER REAL ESTATE EQUITY
INVESTMENT FUND, MUNDER SMALL-CAP VALUE FUND, MUNDER SMALL COMPANY GROWTH FUND,
MUNDER VALUE FUND, MUNDER FRAMLINGTON EMERGING MARKETS FUND, MUNDER FRAMLINGTON
HEALTHCARE FUND AND MUNDER FRAMLINGTON INTERNATIONAL GROWTH FUND
INVESTMENT ADVISOR
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Investment Advisor" in the Prospectus is hereby
deleted in its entirety and supplemented as follows:
INVESTMENT ADVISOR. The Funds' investment advisor is Munder Capital
Management, a Delaware general partnership with its principal offices at 480
Pierce Street, Birmingham, Michigan 48009. The principal partners of the
Advisor are Old MCM, Inc. ("MCM"), Munder Group LLC and WAM Holdings, Inc.
("WAM"). MCM was founded in February 1985 as a Delaware corporation and was
a registered investment advisor. WAM is an indirect, wholly-owned subsidiary
of Comerica Incorporated which owns or controls approximately 88% of the
partnership interests in the Advisor. As of March 31, 1998, the Advisor and
its affiliates had approximately $50.5 billion in assets under management, of
which $25.4 billion were invested in equity securities, $10.7 billion were
invested in money market or other short-term instruments, $9.5 billion were
invested in other fixed income securities and $4.9 billion in
non-discretionary assets.
<PAGE>
THE MUNDER FUNDS
SUPPLEMENT DATED JULY 6, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS K SHARES OF:
MUNDER ACCELERATING GROWTH FUND, MUNDER BALANCED FUND, MUNDER GROWTH & INCOME
FUND, MUNDER INDEX 500 FUND, MUNDER INTERNATIONAL EQUITY FUND, MUNDER MICRO-CAP
EQUITY FUND, MUNDER MID-CAP GROWTH FUND, MUNDER MULTI-SEASON GROWTH FUND, MUNDER
REAL ESTATE EQUITY INVESTMENT FUND, MUNDER SMALL-CAP VALUE FUND, MUNDER SMALL
COMPANY GROWTH FUND, MUNDER VALUE FUND, MUNDER FRAMLINGTON EMERGING MARKETS
FUND, MUNDER FRAMLINGTON HEALTHCARE FUND, MUNDER FRAMLINGTON INTERNATIONAL
GROWTH FUND, MUNDER BOND FUND, MUNDER INTERMEDIATE BOND FUND, MUNDER
INTERNATIONAL BOND FUND, MUNDER U.S. GOVERNMENT INCOME FUND, MUNDER MICHIGAN
TRIPLE TAX-FREE BOND FUND, MUNDER TAX-FREE BOND FUND, MUNDER TAX-FREE
INTERMEDIATE BOND FUND, MUNDER SHORT TERM TREASURY FUND, MUNDER CASH INVESTMENT
FUND, MUNDER TAX-FREE MONEY MARKET FUND AND MUNDER U.S. TREASURY MONEY MARKET
FUND
INVESTMENT ADVISOR
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Investment Advisor" in the Prospectus is hereby
deleted in its entirety and supplemented as follows:
INVESTMENT ADVISOR. The Funds' investment advisor is Munder Capital
Management, a Delaware general partnership with its principal offices at 480
Pierce Street, Birmingham, Michigan 48009. The principal partners of the
Advisor are Old MCM, Inc. ("MCM"), Munder Group LLC and WAM Holdings, Inc.
("WAM"). MCM was founded in February 1985 as a Delaware corporation and was
a registered investment advisor. WAM is an indirect, wholly-owned subsidiary
of Comerica Incorporated which owns or controls approximately 88% of the
partnership interests in the Advisor. As of March 31, 1998, the Advisor and
its affiliates had approximately $50.5 billion in assets under management, of
which $25.4 billion were invested in equity securities, $10.7 billion were
invested in money market or other short-term instruments, $9.5 billion were
invested in other fixed income securities and $4.9 billion in
non-discretionary assets.
<PAGE>
THE MUNDER FUNDS
SUPPLEMENT DATED JULY 6, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS Y SHARES OF:
MUNDER ACCELERATING GROWTH FUND, MUNDER BALANCED FUND, MUNDER GROWTH & INCOME
FUND, MUNDER INTERNATIONAL EQUITY FUND, MUNDER MICRO-CAP EQUITY FUND, MUNDER
MID-CAP GROWTH FUND, MUNDER MULTI-SEASON GROWTH FUND, MUNDER REAL ESTATE EQUITY
INVESTMENT FUND, MUNDER SMALL-CAP VALUE FUND, MUNDER SMALL COMPANY GROWTH FUND,
MUNDER VALUE FUND, MUNDER FRAMLINGTON EMERGING MARKETS FUND, MUNDER FRAMLINGTON
HEALTHCARE FUND, MUNDER FRAMLINGTON INTERNATIONAL GROWTH FUND, MUNDER BOND FUND,
MUNDER INTERMEDIATE BOND FUND, MUNDER INTERNATIONAL BOND FUND, MUNDER U.S.
GOVERNMENT INCOME FUND, MUNDER MICHIGAN TRIPLE TAX-FREE BOND FUND, MUNDER
TAX-FREE BOND FUND, MUNDER TAX-FREE INTERMEDIATE BOND FUND, MUNDER SHORT TERM
TREASURY FUND, MUNDER CASH INVESTMENT FUND, MUNDER MONEY MARKET FUND, MUNDER
TAX-FREE MONEY MARKET FUND AND MUNDER U.S. TREASURY MONEY MARKET FUND
INVESTMENT ADVISOR
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Investment Advisor" in the Prospectus is hereby
deleted in its entirety and supplemented as follows:
INVESTMENT ADVISOR. The Funds' investment advisor is Munder Capital
Management, a Delaware general partnership with its principal offices at 480
Pierce Street, Birmingham, Michigan 48009. The principal partners of the
Advisor are Old MCM, Inc. ("MCM"), Munder Group LLC and WAM Holdings, Inc.
("WAM"). MCM was founded in February 1985 as a Delaware corporation and was
a registered investment advisor. WAM is an indirect, wholly-owned subsidiary
of Comerica Incorporated which owns or controls approximately 88% of the
partnership interests in the Advisor. As of March 31, 1998, the Advisor and
its affiliates had approximately $50.5 billion in assets under management, of
which $25.4 billion were invested in equity securities, $10.7 billion were
invested in money market or other short-term instruments, $9.5 billion were
invested in other fixed income securities and $4.9 billion in
non-discretionary assets.
<PAGE>
THE MUNDER FUNDS
SUPPLEMENT DATED JULY 6, 1998
TO PROSPECTUS DATED JUNE 13, 1998
CLASS Y SHARES OF:
MUNDER FRAMLINGTON GLOBAL FINANCIAL SERVICES FUND
INVESTMENT ADVISOR
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUND--Who Manages
and Services the Fund?--Investment Advisor" in the Prospectus is hereby
deleted in its entirety and supplemented as follows:
INVESTMENT ADVISOR. The Fund's investment advisor is Munder Capital
Management, a Delaware general partnership with its principal offices at 480
Pierce Street, Birmingham, Michigan 48009. The principal partners of the
Advisor are Old MCM, Inc. ("MCM"), Munder Group LLC and WAM Holdings, Inc.
("WAM"). MCM was founded in February 1985 as a Delaware corporation and was
a registered investment advisor. WAM is an indirect, wholly-owned subsidiary
of Comerica Incorporated which owns or controls approximately 88% of the
partnership interests in the Advisor. As of March 31, 1998, the Advisor and
its affiliates had approximately $50.5 billion in assets under management, of
which $25.4 billion were invested in equity securities, $10.7 billion were
invested in money market or other short-term instruments, $9.5 billion were
invested in other fixed income securities and $4.9 billion in
non-discretionary assets.
<PAGE>
THE MUNDER FUNDS
SUPPLEMENT DATED JULY 6, 1998
TO STATEMENT OF ADDITIONAL INFORMATION DATED OCTOBER 29, 1997
MUNDER ACCELERATING GROWTH FUND, MUNDER BALANCED FUND, MUNDER EQUITY SELECTION
FUND, MUNDER GROWTH & INCOME FUND, MUNDER INDEX 500 FUND, MUNDER INTERNATIONAL
EQUITY FUND, MUNDER MICRO-CAP EQUITY FUND, MUNDER MID-CAP GROWTH FUND, MUNDER
MULTI-SEASON GROWTH FUND, MUNDER REAL ESTATE EQUITY INVESTMENT FUND, MUNDER
SMALL-CAP VALUE FUND, MUNDER SMALL COMPANY GROWTH FUND, MUNDER VALUE FUND,
MUNDER FRAMLINGTON EMERGING MARKETS FUND, MUNDER FRAMLINGTON HEALTHCARE FUND,
MUNDER FRAMLINGTON INTERNATIONAL GROWTH FUND, MUNDER BOND FUND, MUNDER
INTERMEDIATE BOND FUND, MUNDER INTERNATIONAL BOND FUND, MUNDER U.S. GOVERNMENT
INCOME FUND, MUNDER MICHIGAN TRIPLE TAX-FREE BOND FUND, MUNDER TAX-FREE BOND
FUND, MUNDER TAX-FREE INTERMEDIATE BOND FUND, MUNDER SHORT TERM TREASURY FUND,
MUNDER CASH INVESTMENT FUND, MUNDER MONEY MARKET FUND, MUNDER TAX-FREE MONEY
MARKET FUND AND MUNDER U.S. TREASURY MONEY MARKET FUND
INVESTMENT ADVISORY AGREEMENT
Effective July 2, 1998, the Funds have entered into a new Investment Advisory
Agreement (the "Agreement") with the Advisor pursuant to terms of an Exemptive
Order (the "Order") granted by the Securities and Exchange Commission. Under
the terms of the Order, the Agreement must be approved by the shareholders
within one hundred and fifty (150) days but no later than November 30, 1998.
The Funds will call a special meeting of the shareholders to approve the
Agreement. Until shareholder approval, the fees paid to the Advisor will be
paid into an escrow account. If the Agreement is not approved by the
shareholders, the Board of Directors and/or the Board of Trustees will consider
appropriate action.
<PAGE>
THE MUNDER FUNDS
SUPPLEMENT DATED JULY 6, 1998
TO STATEMENT OF ADDITIONAL INFORMATION DATED JUNE 13, 1998
MUNDER FRAMLINGTON GLOBAL FINANCIAL SERVICES FUND
INVESTMENT ADVISORY AGREEMENT
Effective July 2, 1998, the Fund has entered into a new Investment Advisory
Agreement (the "Agreement") with the Advisor pursuant to terms of an
Exemptive Order (the "Order") granted by the Securities and Exchange
Commission. Under the terms of the Order, the Agreement must be approved by
the shareholders within one hundred and fifty (150) days but no later than
November 30, 1998. The Fund will call a special meeting of the shareholders
to approve the Agreement. Until shareholder approval, the fee paid to the
Advisor will be paid into an escrow account. If the Agreement is not approved
by the shareholders, the Board of Trustees will consider appropriate action.
