SCUDDER
INVESTMENTS(SM)
[LOGO]
Scudder Short Term Bond
Fund
Supplement to Prospectus
Dated April 12, 2000
--------------------------------------------------------------------------------
The following information replaces the current disclosure concerning portfolio
management for Scudder Short Term Bond Fund in "The Portfolio Managers" section
of the prospectus on page 16.
The following person handles the day-to-day management of the fund:
Robert S. Cessine
Lead Portfolio Manager
o Began investment career in 1982
o Joined the adviser in 1993
o Joined the fund team in 1998
December 15, 2000
