SCHRODER CAPITAL FUNDS (DELAWARE)
SCHRODER EMERGING MARKETS FUND INSTITUTIONAL PORTFOLIO
ADVISOR SHARES
Supplement Dated November 12, 1997 to
Prospectus Dated March 1, 1997
INVESTMENT POLICIES
The investment adviser has determined to include the country of Malaysia in
"emerging market" countries in which the Fund and Portfolio may invest. Further,
Portugal has been classified as an established market country and is now
included in the Morgan Stanley Capital International World Index. Accordingly,
the fifth paragraph under "Investment Policies" is amended to delete Malaysia
from, and add Portugal to, the list of countries that are excluded from the
Portfolio's emerging market category.
PORTFOLIO MANAGEMENT
The third paragraph under "Management of the Fund -- Investment Adviser and
Portfolio Managers" on Page 18 of the Prospectus is replaced in its entirety
by the following paragraph:
The Fund's current investment managers include John A. Troiano, a Vice
President of the Trust and Schroder Core, who managed the Fund's
investment portfolio from its inception until it invested its assets in
the Portfolio and has managed the Portfolio's assets since its
inception, assisted by the management team of Heather F. Crighton and
Mark G.O. Bridgeman, who are responsible for the day-to-day management
of the investment portfolio. Mr. Troiano, Chief Executive Officer of
SCMI since July 1, 1997, has been a Managing Director of SCMI since
October 1995 and has been employed by various Schroder Group companies
in the investment research and portfolio management areas since 1981.
Ms. Crighton is a First Vice President of SCMI and has been employed by
SCMI/various Schroder Group companies in the investment research and
portfolio management areas since 1992. Mr. Bridgeman, a Vice President
of SCMI, has been employed by various Schroder Group companies in the
investment research and portfolio management areas since 1990.
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SCHRODER CAPITAL FUNDS (DELAWARE)
SCHRODER EMERGING MARKETS FUND INSTITUTIONAL PORTFOLIO
INVESTOR SHARES
Supplement Dated November 12, 1997 to
Prospectus Dated March 1, 1997
INVESTMENT POLICIES
The investment adviser has determined to include the country of Malaysia in
"emerging market" countries in which the Fund and Portfolio may invest. Further,
Portugal has been classified as an established market country and is now
included in the Morgan Stanley Capital International World Index. Accordingly,
the fifth paragraph under "Investment Policies" is amended to delete Malaysia
from, and add Portugal to, the list of countries that are excluded from the
Portfolio's emerging market category.
PORTFOLIO MANAGEMENT
The third paragraph under "Management of the Fund -- Investment Adviser and
Portfolio Managers" on Page 18 of the Prospectus is replaced in its entirety by
the following paragraph:
The Fund's current investment managers include John A. Troiano, a Vice
President of the Trust and Schroder Core, who managed the Fund's
investment portfolio from its inception until it invested its assets in
the Portfolio and has managed the Portfolio's assets since its
inception, assisted by the management team of Heather F. Crighton and
Mark G.O. Bridgeman, who are responsible for the day-to-day management
of the investment portfolio. Mr. Troiano, Chief Executive Officer of
SCMI since July 1, 1997, has been a Managing Director of SCMI since
October 1995 and has been employed by various Schroder Group companies
in the investment research and portfolio management areas since 1981.
Ms. Crighton is a First Vice President of SCMI and has been employed by
SCMI/various Schroder Group companies in the investment research and
portfolio management areas since 1992. Mr. Bridgeman, a Vice President
of SCMI, has been employed by various Schroder Group companies in the
investment research and portfolio management areas since 1990.
