ZURICH MONEY FUNDS
Zurich Money Funds
Zurich Money Market Fund
Zurich Government Money Fund
Zurich Tax-Free Money Fund
ZURICH YIELDWISE FUNDS
Zurich YieldWise Money Fund
SUPPLEMENT TO CURRENTLY EFFECTIVE PROSPECTUS OF
EACH OF THE LISTED FUNDS (EACH A "FUND"):
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On September 7, 1998, Zurich Insurance Company ("Zurich"), the majority owner of
Scudder Kemper Investments, Inc. (the "Adviser"), entered into an agreement with
B.A.T Industries p.l.c. ("B.A.T"), pursuant to which the financial services
businesses of B.A.T were combined with Zurich's businesses to form a new global
insurance and financial services company known as Zurich Financial Services.
Upon consummation of the transaction, each Fund's investment management
agreement with the Adviser was deemed to have been assigned and, therefore,
terminated. The Board of Trustees of each Fund and the shareholders of each Fund
have approved a new investment management agreement with the Adviser, which is
substantially identical to the former investment management agreement, except
for the dates of execution and termination.
At special meetings of shareholders of each Fund held on December 17, 1998 (the
"Special Meetings"), the shareholders confirmed that as a matter of fundamental
policy, each Fund is classified as a diversified series of an open-end
investment company under the Investment Company Act of 1940 (the "1940 Act"),
but the shareholders voted to eliminate any additional fundamental
diversification policies.
At each Fund's Special Meeting, the shareholders approved the reclassification
of each Fund's investment objective(s) and policies as non-fundamental, with the
exception of those policies required to be fundamental by the 1940 Act. An
objective or policy which is non-fundamental may be changed or eliminated by the
Board of Trustees without a vote of the shareholders.
January 29, 1999
