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KEMPER EQUITY FUNDS KEMPER FIXED INCOME FUNDS
Kemper Aggressive Growth Fund Kemper Adjustable Rate U.S. Government Fund
Kemper Blue Chip Fund Kemper Diversified Income Fund
Kemper Growth Fund Kemper U.S. Government Securities Fund
Kemper Quantitative Equity Fund Kemper High Yield Fund
Kemper Small Capitalization Equity Fund Kemper Income and Capital Preservation Fund
Kemper Technology Fund Kemper Portfolios comprised of the following
Kemper Total Return Fund series:
Kemper Value+Growth Fund Kemper U.S. Mortgage Fund
SUPPLEMENT TO STATEMENT OF Kemper Short-Intermediate Government Fund
ADDITIONAL INFORMATION Kemper Cash Reserves Fund
DATED DECEMBER 31, 1996 SUPPLEMENT TO STATEMENT OF
ADDITIONAL INFORMATION
DATED DECEMBER 20, 1996
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INVESTMENT OBJECTIVES, POLICIES AND RISK FACTORS
With respect to Kemper High Yield Fund, Kemper Income and Capital
Preservation Fund, Kemper Diversified Income Fund and Kemper Total Return Fund,
the Board of Trustees of the Funds approved the deletion of the following
non-fundamental investment restriction, effective as of August 4, 1997:
The Fund may not invest more than 5% of its total assets in restricted
securities, excluding restricted securities eligible for resale pursuant to
Rule 144A under the Securities Act of 1933 that have been determined to be
liquid pursuant to procedures adopted by the Board of Trustees, provided
that the total amount of Fund assets invested in restricted securities and
securities of issuers which with their predecessors have a record of less
than three years of operation will not exceed 15% of total assets.
KMF-13A (8/97)
August 8, 1997
