<PAGE> 1
KEMPER MONEY MARKET FUND
SUPPLEMENT TO PROSPECTUS
DATED NOVEMBER 1, 1994
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The following supplements the sections of the prospectus referenced.
SUMMARY OF FUND EXPENSES
SHAREHOLDER TRANSACTION EXPENSES*
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Sales Load on Purchases.............................................................. None
Sales Load on Reinvested Dividends................................................... None
Deferred Sales Load.................................................................. None
Redemption Fees...................................................................... None
Exchange Fee......................................................................... None
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MONEY GOVERNMENT
ANNUAL FUND OPERATING EXPENSES MARKET SECURITIES TAX-EXEMPT
(as a percentage of average net assets) PORTFOLIO PORTFOLIO PORTFOLIO
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Management Fees............................................... .27% .27% .27%
12b-1 Fees.................................................... None None None
Other Expenses................................................ .25% .20% .14%
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Total Operating Expenses...................................... .52% 47% .41%
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EXAMPLE PORTFOLIO 1 YEAR 3 YEARS 5 YEARS 10 YEARS
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You would pay the following expenses Money Market............ $5 $17 $29 $ 65
on a $1,000 investment, assuming a Government Securities... $5 $15 $26 $59
5% annual return and redemption at Tax-Exempt.............. $4 $13 $23 $52
the end of each time period:
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* Table does not include $3.00 monthly small account fee. See "How to Sell
Shares."
The purpose of the table above is to assist you in understanding the
various costs and expenses that an investor in the Fund will bear directly or
indirectly. Investment dealers and other firms may independently charge
shareholders additional fees. The Example assumes a 5% annual rate of return
pursuant to requirements of the Securities and Exchange Commission. This
hypothetical rate of return is not intended to be representative of past or
future performance of any Portfolio of the Fund. The Example should not be
considered to be a representation of past or future expenses. Actual expenses
may be greater or lesser than those shown.
INVESTMENT MANAGER
Effective February 1, 1995, Kemper Financial Services, Inc. ("KFS")
transferred all its duties and responsibilities as principal underwriter of the
Fund to Kemper Distributors, Inc., a wholly-owned subsidiary of KFS. KFS
continues to provide investment management services.
In late November 1994, Kemper Corporation, the parent of KFS, announced
that the merger agreement referred to under "Investment Manager" in the
prospectus had been terminated by mutual consent.
March 3, 1995
KMMF-1A (LOGO)printed on recycled paper
