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KEMPER GLOBAL INCOME FUND
KEMPER INTERNATIONAL FUND
SUPPLEMENT TO PROSPECTUS
DATED MARCH 1, 1996
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INVESTMENT MANAGER
Zurich Investment Management Limited ("ZIML"), 1 Fleet Place, London, U.K.
EC4M 7RQ, an affiliate of Zurich Kemper Investments, Inc. ("ZKI"), each Fund's
investment manager, is a sub-adviser for each Fund. ZIML has served as a
sub-adviser for mutual funds since December, 1996 and investment adviser for
certain institutional accounts since August, 1988. Under the terms of the
Sub-Advisory Agreement between ZIML and ZKI, ZIML renders investment advisory
and management services with regard to such portion of the Fund's portfolio as
may be allocated to ZIML by ZKI from time to time for management, including
services related to foreign securities, foreign currency transactions and
related investments. ZKI pays ZIML for its services a sub-advisory fee, payable
monthly at the following annual rates applied to the portion of the average
daily net assets of the applicable Fund allocated by ZKI to ZIML for management:
.35% for the International Fund and .30% for the Global Income Fund. ZIML is an
indirect subsidiary of Zurich Insurance Company.
SPECIAL FEATURES
Shares of a Kemper Mutual Fund with a value in excess of $1,000,000, other
than Kemper Cash Reserves Fund, acquired by exchange from another Kemper Mutual
Fund, or from a Money Market Fund, may not be exchanged thereafter until they
have been owned for 15 days (the "15-Day Hold Policy"). For purposes of
determining whether the 15-Day Hold Policy applies to a particular exchange, the
value of the shares to be exchanged shall be computed by aggregating the value
of shares being exchanged for all accounts under common control, direction or
advice, including without limitation accounts administered by a financial
services firm offering market timing, asset allocation or similar services.
The maximum amount that may be purchased under EXPRESS-Transfer privilege
or the Bank Direct Deposit privilege, or redeemed under the Systematic
Withdrawal Program privilege or the Express-Transfer privilege, is $50,000.
PURCHASE OF SHARES
Initial Sales Charge Alternative--Class A Shares
The "Large Order NAV Purchase Privilege" definition is expanded to read as
follows:
Class A shares of a Fund may be purchased at net asset value by: (a) any
purchaser provided that the amount invested in such Fund or other Kemper Mutual
Funds listed under "Special Features--Class A Share--Combined Purchases" totals
at least $1,000,000 including purchases of Class A shares pursuant to the
"Combined Purchases," "Letter of Intent" and "Cumulative Discount" features
described under "Special Features"; or (b) a participant-directed qualified
retirement plan described in Code Section 401(a), a participant-directed
non-qualified deferred compensation plan described in Code Section 457 or a
participant-directed qualified retirement plan described in Code Section
403(b)(7) that is not sponsored by a K-12 school district, provided in each case
that the plan has not fewer than 200 eligible employees.
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Kemper Distributors, Inc. ("KDI"), each Fund's principal underwriter, may
from time to time, pay or allow to firms a 1% commission on the amount of shares
of the Fund sold under the following conditions: (i) the purchased shares are
held in a Kemper IRA account, (ii) the shares are purchased as a direct "roll
over" of a distribution from a qualified retirement plan account maintained on a
participant subaccount record keeping system provided by Kemper Service Company,
(iii) the registered representative placing the trade is a member of ProStar, a
group of persons designated by KDI in acknowledgment of their dedication to the
employee benefit plan area; and (iv) the purchase is not otherwise subject to a
commission.
December 27, 1996
KIF-1B (LOGO)printed on recycled paper
