<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated December 15, 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.
PRINCIPAL INVESTMENT STRATEGIES
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Munder Balanced Fund in the prospectus is hereby supplemented with the
following:
Stocks are chosen on the basis of above-average and sustainable earnings
growth, financial stability or attractive valuation using the advisor's
proprietary GARP (Growth at a Reasonable Price) style, which focuses on
analysis of current versus historical interest rate relationships and the
relative value of the bond market sectors.
SUPPROEQABC1299
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated December 15, 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.
SUPPROY1299
<PAGE>
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.
PRINCIPAL INVESTMENT STRATEGIES
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Munder Balanced Fund in the prospectus is hereby supplemented with the
following:
Stocks are chosen on the basis of above-average and sustainable earnings
growth, financial stability or attractive valuation using the advisor's
proprietary GARP (Growth at a Reasonable Price) style, which focuses on
analysis of current versus historical interest rate relationships and the
relative value of the bond market sectors.
The section entitled "Risk Return Summary--Principal Investment Strategies" of
the Munder Real Estate Equity Investment Fund in the prospectus is hereby
supplemented with the following:
The advisor selects companies exhibiting steady cash flows, financial
stability, quality management and reasonable valuations.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated December 15, 1999
to Prospectus Dated October 26, 1999
Class K Shares of:
Munder Balanced 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 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.
PRINCIPAL INVESTMENT STRATEGIES
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Munder Balanced Fund in the prospectus is hereby supplemented with the
following:
Stocks are chosen on the basis of above-average and sustainable earnings
growth, financial stability or attractive valuation using the advisor's
proprietary GARP (Growth at a Reasonable Price) style, which focuses on
analysis of current versus historical interest rate relationships and the
relative value of the bond market sectors.
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Munder Real Estate Equity Investment Fund in the prospectus is hereby
supplemented with the following:
The advisor selects companies exhibiting steady cash flows, financial
stability, quality management and reasonable valuations.
SUPPROK1299
<PAGE>
MANAGEMENT
The last two paragraphs in the section entitled "Management--Investment
Advisors And Sub-Advisor" in the prospectus are hereby deleted and replaced
with the following:
During the fiscal year ended June 30, 1999, each Fund paid an advisory fee
at an annual rate based on the average daily net assets of the Fund (after
waivers, if any) as follows:
<TABLE>
<S> <C>
Balanced Fund........................... 0.65%
Growth & Income Fund.................... 0.75%
Growth Opportunities Fund............... 0.75%
Index 500 Fund.......................... 0.07%
International Equity Fund............... 0.75%
Micro-Cap Equity Fund................... 1.00%
Multi-Season Growth Fund................ 0.75%
Real Estate Equity Investment Fund...... 0.74%
Small-Cap Value Fund.................... 0.75%
Small Company Growth Fund............... 0.75%
Value Fund.............................. 0.74%
Framlington Emerging Markets Fund....... 1.25%
Framlington Healthcare Fund............. 1.00%
Framlington International Growth Fund... 1.00%
Bond Fund............................... 0.50%
Intermediate Bond Fund.................. 0.50%
</TABLE>
<TABLE>
<S> <C>
International Bond Fund................. 0.50%
Michigan Tax-Free Bond Fund............. 0.50%
U.S. Government Income Fund............. 0.50%
Tax-Free Bond Fund...................... 0.50%
Tax-Free Short-Intermediate Bond Fund... 0.50%
Cash Investment Fund.................... 0.35%
Tax-Free Money Market Fund.............. 0.35%
U.S. Treasury Money Market Fund......... 0.35%
</TABLE>
During the fiscal year ended June 30, 1999, a portion of the advisory fees
for the Index 500 Fund and the Multi-Season Growth Fund were waived. As a re-
sult, the payments shown above for those Funds were less than the contractual
advisory fees of .20% of the first $250 million of the Index 500 Fund's aver-
age daily net assets; .12% of the next $250 million of the Fund's average
daily net assets and .07% of the Fund's average daily net assets over $500
million and 1.00% of the first $500 million of the Multi-Season Growth Fund's
average daily net assets and .75% of that Fund's average daily net assets over
$500 million.
