<PAGE> 1
VAN KAMPEN MERRITT HIGH YIELD FUND
SUPPLEMENT DATED JULY 24, 1995, TO PROSPECTUS DATED APRIL 30, 1995,
AS PREVIOUSLY SUPPLEMENTED ON JULY 10, 1995
On July 21, 1995, the shareholders of the Fund approved the reorganization
into a Delaware business trust (or series thereof). It is anticipated that the
reorganization of the Fund will be completed within the next sixty days.
<PAGE> 2
VAN KAMPEN MERRITT
ADJUSTABLE RATE U.S. GOVERNMENT FUND
SUPPLEMENT DATED JULY 24, 1995, TO PROSPECTUS DATED APRIL 30, 1995,
AS PREVIOUSLY SUPPLEMENTED ON JULY 10, 1995 AND MAY 12, 1995
On July 21, 1995, the shareholders of the Fund approved the reorganization
into a Delaware business trust (or series thereof). It is anticipated that the
reorganization of the Fund will be completed within the next sixty days.
<PAGE> 3
VAN KAMPEN MERRITT STRATEGIC INCOME FUND
SUPPLEMENT DATED JULY 24, 1995, TO PROSPECTUS DATED APRIL 30, 1995,
AS PREVIOUSLY SUPPLEMENTED ON JULY 10, 1995
On July 21, 1995, the shareholders of the Fund approved the reorganization
into a Delaware business trust (or series thereof). It is anticipated that the
reorganization of the Fund will be completed within the next sixty days.
<PAGE> 4
VAN KAMPEN MERRITT
SHORT-TERM GLOBAL INCOME FUND
SUPPLEMENT DATED JULY 24, 1995, TO PROSPECTUS DATED APRIL 30, 1995,
AS PREVIOUSLY SUPPLEMENTED ON JULY 10, 1995
On July 21, 1995, the shareholders of the Fund approved the reorganization
into a series of a Delaware business trust. It is anticipated that the
reorganization of the Fund will be completed within the next sixty days.
Also on July 21, 1995, the shareholders of the Fund approved a change in
the Fund's fundamental investment policy with respect to the concentration of
its investments. References to the Fund's policy that it concentrate at least
25% of its assets in obligations of or issued by domestic and foreign companies
engaged in the banking industry are hereby deleted.
