Managed Intermediate Government Fund
Supplement to Prospectus
Dated May 1, 1995
The Company's investment adviser, Scudder, Stevens & Clark, Inc., (the
"Adviser"), has agreed to waive a portion of its investment management fee to
the extent necessary so that the total annualized expenses of the Managed
Intermediate Government Fund do not exceed 0.80% of average daily net assets of
the Fund for the period January 1, 1996 through October 31, 1996. To the extent
that expenses fall below 0.80% during the fiscal year, the Adviser reserves the
right to recoup, during the fiscal year incurred, amounts waived during the
period, but only to the extent that the Fund's expenses do not exceed 0.80%.
January 19, 1996
