<PAGE>
The Munder Funds
Supplement Dated November 17, 1999
to Prospectus Dated October 26, 1999
Class K Shares of:
The Munder Equity Selection Fund and
The Munder Framlington Global Financial Services Fund
Change In Performance Benchmark For Equity Selection Fund
The Board of Directors of The Munder Funds, Inc. has approved the change in
performance benchmark for the Munder Equity Selection Fund. Accordingly, the
section entitled "Risk Return Summary--Principal Investment Strategies" of the
Munder Equity Selection Fund in the prospectus is hereby deleted and replaced
with the following:
The Fund pursues its goal by investing at least 65% of its assets in equity
securities.
The Fund invests in equity securities which the advisor believes are
undervalued compared to stocks of other companies in the same industry.
The Fund generally invests in companies with market capitalizations of at
least $1 billion.
The Fund diversifies its assets by industry in approximately the same
weightings as those of the Russell 1000 Growth Index.
<PAGE>
The Munder Funds
Supplement Dated November 17, 1999
to Prospectus Dated October 26, 1999
Class A, B and C Shares of:
Munder Balanced Fund, Munder Equity Selection Fund, Munder Growth & Income
Fund, Munder Growth Opportunities Fund, Munder International Equity Fund, Munder
Micro-Cap Equity 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 Global Financial Services Fund, Munder Framlington Healthcare Fund
and Munder Framlington International Growth Fund
Change Of Investment Objective For Small-Cap Value Fund And Value Fund
The Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Munder Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective to long-term capital
appreciation. The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Value Fund from long-term capital
appreciation, with its secondary goal to provide income to long-term capital
appreciation.
Change Of Investment Policy For Small Company Growth Fund
The Board of Trustees of The Munder Funds Trust has changed the investment
policy of the Munder Small Company Growth Fund to increase the market
capitalization of the issuers considered to be small-cap companies. Accordingly,
the first paragraph of the section entitled "Risk Return Summary--Principal
Investment Strategies" of the Munder Small Company Growth Fund in the prospectus
is hereby deleted and replaced with the following:
The Fund pursues its goal by investing, under normal market conditions, at
least 65% of its assets in equity securities of small capitalization companies
with market capitalizations below $1.5 billion, which is less than the market
capitalization of S&P 500 companies.
Change In Performance Benchmark For Equity Selection Fund
The Board of Directors of The Munder Funds, Inc. has approved the change in
performance benchmark for the Munder Equity Selection Fund. Accordingly, the
section entitled "Risk Return Summary--Principal Investment Strategies" of the
Munder Equity Selection Fund in the prospectus is hereby deleted and replaced
with the following:
The Fund pursues its goal by investing at least 65% of its assets in equity
securities.
The Fund invests in equity securities which the advisor believes are
undervalued compared to stocks of other companies in the same industry.
The Fund generally invests in companies with market capitalizations of at
least $1 billion.
The Fund diversifies its assets by industry in approximately the same
weightings as those of the Russell 1000 Growth Index.
<PAGE>
The Munder Funds
Supplement Dated November 17, 1999
to Prospectus Dated October 26, 1999
Class K Shares of:
Munder Balanced Fund, Munder Equity Selection Fund, Munder Growth & Income Fund,
Munder Growth Opportunities Fund, Munder Index 500 Fund, Munder International
Equity Fund, Munder Micro-Cap Equity 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 Global Financial Services 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 Tax-Free Bond Fund, Munder
Tax-Free Bond Fund, Munder Tax-Free Short-Intermediate Bond Fund, Munder Cash
Investment Fund, Munder Tax-Free Money Market Fund and Munder U.S. Treasury
Money Market Fund
Change Of Investment Objective For Small-Cap Value Fund And Value Fund
The Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Munder Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective to long-term capital
appreciation. The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Value Fund from long-term capital
appreciation, with its secondary goal to provide income to long-term capital
appreciation.
Change Of Investment Policy For Small Company Growth Fund
The Board of Trustees of The Munder Funds Trust has changed the investment
policy of the Munder Small Company Growth Fund to increase the market
capitalization of the issuers considered to be small-cap companies. Accordingly,
the first paragraph of the section entitled "Risk Return Summary--Principal
Investment Strategies" of the Munder Small Company Growth Fund in the prospectus
is hereby deleted and replaced with the following:
The Fund pursues its goal by investing, under normal market conditions, at
least 65% of its assets in equity securities of small capitalization companies
with market capitalizations below $1.5 billion, which is less than the market
capitalization of S&P 500 companies.
<PAGE>
The Munder Funds
Supplement Dated November 17, 1999
to Prospectus Dated October 26, 1999
Class Y Shares of:
Munder Balanced Fund, Munder Equity Selection Fund, Munder Growth & Income Fund,
Munder Future Technology Fund, Munder Growth Opportunities Fund, Munder
International Equity Fund, Munder Micro-Cap Equity Fund, Munder Multi-Season
Growth Fund, Munder NetNet 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 Global
Financial Services 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 Tax-Free Bond Fund, Munder Tax-Free Bond Fund, Munder Tax-Free Short-
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
Availability Of Shares
The Class Y Shares of all the Funds except the Munder Cash Investment Fund,
Munder Multi-Season Growth Fund and the Munder Money Market Fund are not
currently available for purchase in the State of Nebraska. The Class Y Shares
of the Munder Future Technology Fund, Munder Framlington Global Financial
Services Fund, Munder Growth Opportunities Fund and Munder Short Term Treasury
Fund are not currently available for purchase in the State of New Hampshire.
The Class Y Shares of Munder Framlington Global Financial Services Fund, Munder
Growth Opportunities Fund and Munder Short Term Treasury Fund are not currently
available for purchase in the State of Montana.
Change Of Investment Objective For Small-Cap Value Fund And Value Fund
The Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Munder Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective to long-term capital
appreciation. The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Value Fund from long-term capital
appreciation, with its secondary goal to provide income to long-term capital
appreciation.
Change Of Investment Policy For Small Company Growth Fund
The Board of Trustees of The Munder Funds Trust has changed the investment
policy of the Munder Small Company Growth Fund to increase the market
capitalization of the issuers considered to be small-cap companies. Accordingly,
the first paragraph of the section entitled "Risk Return Summary--Principal
Investment Strategies" of the Munder Small Company Growth Fund in the prospectus
is hereby deleted and replaced with the following:
The Fund pursues its goal by investing, under normal market conditions, at
least 65% of its assets in equity securities of small capitalization companies
with market capitalizations below $1.5 billion, which is less than the market
capitalization of S&P 500 companies.
Change In Performance Benchmark For Equity Selection Fund
The Board of Directors of The Munder Funds, Inc. has approved the change in
performance benchmark for the Munder Equity Selection Fund. Accordingly, the
section entitled "Risk Return Summary--Principal Investment Strategies" of the
Munder Equity Selection Fund in the prospectus is hereby deleted and replaced
with the following:
The Fund pursues its goal by investing at least 65% of its assets in equity
securities.
The Fund invests in equity securities which the advisor believes are
undervalued compared to stocks of other companies in the same industry.
The Fund generally invests in companies with market capitalizations of at
least $1 billion.
The Fund diversifies its assets by industry in approximately the same
weightings as those of the Russell 1000 Growth Index.
