THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated June 27, 2000
to Prospectus Dated October 26, 1999
Class K Shares of:
Munder Balanced Fund, Munder Equity Income Fund (formerly 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 Fundand Munder U.S. Treasury Money Market Fund
CHANGE OF ADDRESS
The section entitled "Your Investment-How to Reach the Funds by mail" in the
prospectus is hereby deleted and replaced with the following: The Munder Funds,
c/o PFPC Global Fund Services, P.O. Box 60428, King of Prussia, PA 19406-0428.
CHANGE OF NAME FOR FIRST DATA INVESTOR SERVICES GROUP
The name of First Data Investor Services Group has changed to PFPC Global Fund
Services.
CLOSING OF VALUE FUND
Shares of the Value Fund are no longer available.
CHANGE OF NAME FOR GROWTH & INCOME FUND
The Board of Trustees of The Munder Funds Trust has changed the name of
the Growth & Income Fund to the Equity Income Fund.
PORTFOLIO MANAGEMENT OF REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is manager of the Real Estate Equity Investment Fund. Mr.
Crosby has managed the Fund since March 1998 and was the Fund's primary analyst
from 1996-1998. Mr. Crosby has been with the Advisor since 1993, and also serves
as portfolio manager for separately managed institutional accounts.
PORTFOLIO MANAGEMENT OF BOND FUND, INTERMEDIATE BOND FUND AND
U.S. GOVERNMENT INCOME FUND
Anne K. Kennedy and Peter G. Root jointly manage the Bond Fund, the
Intermediate Bond Fund and U.S. Government Income Fund. Ms. Kennedy, Vice
President and Director of Portfolio Management of the Advisor or of Old MCM,
Inc. ("Old MCM"), the predecessor to the Advisor since 1991, has managed the
Bond Fund and the U.S. Government Income Fund since January 2000 and the
Intermediate Bond Fund since March 1995. Mr. Root, Vice President and Chief
Investment Officer of Fixed Income of the Advisor since March 1995, has managed
the Bond Fund and Intermediate Bond Fund since January 2000 and the U.S.
Government Income Fund since March 1995. Mr. Root joined Old MCM in 1991.
<PAGE>
PORTFOLIO MANAGEMENT OF INTERNATIONAL BOND FUND
Sharon E. Fayolle and Peter G. Root jointly manage the International Bond
Fund. Ms. Fayolle, Vice President and Director of Money Market Trading for the
Advisor or Old MCM, has managed the Fund since 1996. Prior to that she managed
an international portfolio for Ford Motor Company. Mr. Root, Vice President and
Chief Investment Officer of Fixed Income of the Advisor since March 1995, has
managed the Fund since January 2000. Mr. Root joined Old MCM in 1991.
CHANGE OF INVESTMENT OBJECTIVE FOR SMALL-CAP VALUE FUND
The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective 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 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 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 OF BALANCED FUND AND
REAL ESTATE EQUITY INVESTMENT FUND
The section entitled "Risk Return Summary-Principal Investment
Strategies" of the 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 both growth prospects and valuation. Bond
strategy 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 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.
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:
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%
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%
International Bond Fund 0.50%
U.S. Government Income Fund 0.50%
Michigan Tax-Free Bond 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%
<PAGE>
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
result, 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 average
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.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated June 27, 2000
to Prospectus Dated October 26, 1999
Class K Shares of:
Munder Focus Growth Fund (formerly Munder Equity Selection Fund) and
Munder Framlington Global Financial Services Fund
CHANGE OF ADDRESS
The section entitled "Your Investment-How to Reach the Funds by mail" in the
prospectus is hereby deleted and replaced with the following: The Munder Funds,
c/o PFPC Global Fund Services, P.O. Box 60428, King of Prussia, PA 19406-0428.
CHANGE OF NAME FOR FIRST DATA INVESTOR SERVICES GROUP
The name of First Data Investor Services Group has changed to PFPC Global Fund
Services.
CHANGE OF NAME AND PERFORMANCE BENCHMARK FOR EQUITY SELECTION FUND
The Board of Directors of The Munder Funds, Inc. has changed the name
of the Equity Selection Fund to the Focus Growth Fund, and approved the change
in performance benchmark for the Fund. Accordingly, the section entitled "Risk
Return Summary-Principal Investment Strategies" of the 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.
The Fund may also invest in foreign securities.
