<PAGE> 1
VAN KAMPEN AMERICAN CAPITAL
SHORT-TERM GLOBAL INCOME FUND
SUPPLEMENT DATED JUNE 1, 1996, TO THE PROSPECTUS DATED MAY 17, 1996
Effective July 1, 1996, the footnote on the sales charge table located in
the section of the Prospectus captioned "PURCHASE OF SHARES" is hereby amended
as follows:
* No sales charge is payable at the time of purchase on investments of $1
million or more, although for such investments the Fund imposes a contingent
deferred sales charge of 1.00% on redemptions made within one year of the
purchase. A commission will be paid to brokers, dealers or financial
intermediaries who initiate and are responsible for purchases of $1 million or
more as follows: 1.00% on sales to $2 million, plus 0.80% on the next million
and 0.50% on the excess over $3 million. See "Purchase of Shares -- Deferred
Sales Charge Alternatives" for additional information with respect to
contingent deferred sales charges.
<PAGE> 2
VAN KAMPEN AMERICAN CAPITAL
STRATEGIC INCOME FUND
SUPPLEMENT DATED JUNE 1, 1996, TO THE PROSPECTUS DATED SEPTEMBER 5, 1995
AS PREVIOUSLY SUPPLEMENTED ON OCTOBER 12, 1995 AND JANUARY 9, 1996
Class B Shares purchased on or after June 1, 1996 automatically will convert
to Class A Shares eight years after the end of the calendar month in which the
investor's order to purchase was accepted. The Fund's contingent deferred sales
charge schedule for Class B Shares is not effected by such conversion.
The section of the Prospectus captioned "ANNUAL FUND OPERATING EXPENSES AND
EXAMPLE" is hereby amended as follows:
The expenses for Class B Shares assuming redemption at the end of a ten year
period are $490 and the expenses for Class B Shares assuming no redemption at
the end of a ten year period are $490.
Effective July 1, 1996, the footnote on the sales charge table located in
the section of the Prospectus captioned "PURCHASE OF SHARES" is hereby amended
as follows:
* No sales charge is payable at the time of purchase on investments of $1
million or more, although for such investments the Fund imposes a contingent
deferred sales charge of 1.00% on redemptions made within one year of the
purchase. A commission will be paid to brokers, dealers or financial
intermediaries who initiate and are responsible for purchases of $1 million or
more as follows: 1.00% on sales to $2 million, plus 0.80% on the next million
and 0.50% on the excess over $3 million. See "Purchase of Shares -- Deferred
Sales Charge Alternatives" for additional information with respect to
contingent deferred sales charges.
<PAGE> 3
VAN KAMPEN AMERICAN CAPITAL
HIGH YIELD FUND
SUPPLEMENT DATED JUNE 1, 1996, TO THE PROSPECTUS DATED SEPTEMBER 5, 1995,
AS PREVIOUSLY SUPPLEMENTED ON OCTOBER 12, 1995 AND JANUARY 9, 1996
Class B Shares purchased on or after June 1, 1996 automatically will convert
to Class A Shares eight years after the end of the calendar month in which the
investor's order to purchase was accepted. The Fund's contingent deferred sales
charge schedule for Class B Shares is not effected by such conversion.
The section of the Prospectus captioned "ANNUAL FUND OPERATING EXPENSES AND
EXAMPLE" is hereby amended as follows:
The expenses for Class B Shares assuming redemption at the end of a ten year
period are $217 and the expenses for Class B Shares assuming no redemption at
the end of a ten year period are $217.
Effective July 1, 1996, the footnote on the sales charge table located in
the section of the Prospectus captioned "PURCHASE OF SHARES" is hereby amended
as follows:
* No sales charge is payable at the time of purchase on investments of $1
million or more, although for such investments the Fund imposes a contingent
deferred sales charge of 1.00% on redemptions made within one year of the
purchase. A commission will be paid to brokers, dealers or financial
intermediaries who initiate and are responsible for purchases of $1 million or
more as follows: 1.00% on sales to $2 million, plus 0.80% on the next million
and 0.50% on the excess over $3 million. See "Purchase of Shares -- Deferred
Sales Charge Alternatives" for additional information with respect to
contingent deferred sales charges.
