SCHRODER CAPITAL FUNDS (DELAWARE)
SCHRODER INTERNATIONAL FUND
SCHRODER EMERGING MARKETS FUND
SCHRODER INTERNATIONAL SMALLER COMPANIES FUND
SCHRODER INTERNATIONAL BOND FUND
SCHRODER U.S. DIVERSIFIED GROWTH FUND
SCHRODER U.S. SMALLER COMPANIES FUND
SCHRODER MICRO CAP FUND
INVESTOR SHARES
Supplement Dated December 22, 1998 to
Prospectus Dated October 1, 1998
1. Shares of Schroder Micro Cap Fund are not currently being offered to the
public generally, and may be purchased only by existing shareholders and by
employees of Schroder Capital Management International Inc., the Fund's
investment adviser ("SCMI"), and its affiliates. The determination to
discontinue the general offering was made by SCMI after consultation with the
Board of Trustees of Schroder Capital Funds (Delaware). SCMI intends to review
the discontinuation periodically, and may recommend at any time that a more
general offering of the Fund's shares be resumed.
2. On the back cover of the Prospectus add the following information to the end
of the section titled "Custodian"
and
Norwest Bank
Sixth Street and Marquette
Minneapolis, Minnesota 55479
