11. What Services Does Scudder Provide?
As a shareholder, you'll enjoy:
* professional service from representatives who can answer your
questions and execute your transactions
* automated toll-free touchtone access to account information, share
prices and yields, and to perform transactions
* Scudder's quarterly shareholder newsletter, At the Helm
* regular, informative reports about the performance of your Fund
Scudder wants you to make informed investment decisions. This Fund Profile
contains key information about Scudder Emerging Markets Income Fund. More
details appear in the Fund's accompanying prospectus. Please read it
carefully before you invest. If you have any questions, please call
1-800-225-2470.
104-9-105
Scudder
Emerging Markets
Income Fund
Fund Profile
October 1, 1995
<PAGE>
SCUDDER EMERGING MARKETS INCOME FUND
1. What Are The Fund's Objectives?
Scudder Emerging Markets Income Fund seeks high current income.
Its secondary objective is long-term capital appreciation.
-----------------------------------------------------------------------------
2. What Does The Fund Invest In?
The Fund invests primarily (at least 65% of assets) in
high-yield /high risk debt securities issued by governments
and corporations in emerging markets. These securities
generally are rated below investment-grade.
* The Fund may focus its investments in countries in Latin America.
* The Fund's assets are invested primarily in U.S. dollar-
denominated income-bearing securities issued by governments or
related entities and corporations.
* The weighted average maturity of the Fund's portfolio will be
actively managed and will vary from period to period.
------------------------------------------------------------------------------
3. What Are The Risks Of Investing In The Fund?
Emerging market securities can be more volatile and less
liquid than securities in more developed markets. Foreign
securities often have less publicly available information
and are subject to different regulations than domestic
securities. Political events, changes in the perceived
creditworthiness of issuers, fluctuating national interest
rates, foreign taxes and movements in foreign currencies
will affect the value of the Fund's holdings, which
determine the Fund's share price. Consequently, the Fund's
share price and yield are likely to vary from day to day.
You incur principal risk when you invest because your
shares, when sold, may be worth more or less than what you
paid for them.
Because it is non-diversified, the Fund may invest in a
small number of issuers, which will subject it to greater
market and credit risk than a diversified fund.
Furthermore, the Fund's holdings in securities rated below
investment-grade carry a greater risk of default and more
price volatility than securities rated investment- grade
or above.
- -------------------------------------------------------------------------------
4. For Whom Is This Fund Appropriate?
You may wish to consider this Fund if you are seeking high
current income and:
* plan to hold your investment for several years,
* can tolerate fluctuations in share price, and
* have or plan to have other investments for the benefit of
diversification.
<PAGE>
5. What Are The Fund's Expenses And Fees?
There are two kinds of expenses that a shareholder may incur, directly
or indirectly, by investing in a mutual fund. These types of
expenses, as they relate to Scudder Emerging Markets Income Fund, are:
<TABLE>
<S> <C>
Shareholder transaction expenses- Annual Fund operating expenses-
fees charged directly to your account (after expense maintenance)-
for various transactions. fees paid by the Fund before it distributes
its net investment income, expressed as a
Sales Commission None percentage of the Fund's average daily net
Commissions to Reinvest assets. Figures below are for the fiscal year
Dividends None ended October 31, 1994, during which Scudder
Redemption Fee None maintained the total annualized expenses of the
Exchange Fee None Fund at not more than 1.50% of average daily net
assets. Had Scudder not done so, expenses would
have amounted to 2.14%, including 1.00% for
management fees. Scudder will continue this
expense maintenance until February 29, 1996.
Investment management fee 0.36%
12b-1 fees None
Other expenses 1.14%
----
Total Fund operating expenses 1.50%
====
Example: Assuming a 5% annual return One Year $15
and redemption at the end of each period, Three Years $47
the total expenses relating to a $1,000 Five Years $82
investment would be: Ten Years $179
</TABLE>
This example assumes reinvestment of all dividends and
distributions and that the total Fund operating expenses
listed above remain the same each year. This example
should not be considered a representation of past or
future expenses or return. Actual Fund expenses and return
vary from year to year and may be higher or lower than
those shown. Please note that there is a $5 service fee if
you request redemption proceeds via wire.
<PAGE>
6. How Has The Fund Performed Historically?
This chart shows how the Fund has performed since it
commenced operations on December 31, 1993, assuming
reinvestment of all distributions. Performance is
historical and may not be indicative of future results.
Total return and principal value will fluctuate. The
Fund's 30-day net annualized SEC yield on September 30,
1995 was 12.50%.
Total return for the year ended December 31, 1994:
-8.06
The Fund's Average Annual Total Return for the period ended September 30, 1995
One Year 3.33%
Life of Fund 0.53%
- -------------------------------------------------------------------------------
7. Who Manages The Fund?
The Fund's investment adviser is Scudder, Stevens & Clark,
Inc., a leading provider of U.S. and international
investment management for clients throughout the world.
- -------------------------------------------------------------------------------
8. How Can I Invest?
To make it easy for you to open an account, you may invest
by mail, phone, fax, or in person. The minimum initial
investment is only $1,000. Thereafter, additional
investments may be made for as little as $100. You may
also exchange shares free of charge within the Scudder
Family of Funds.
------------------------------------------------------------------------------
9. How Can I Redeem Shares?
You may redeem shares at the current share price on any
business day by telephone, fax, or mail.
------------------------------------------------------------------------------
10. When Are Distributions Made?
The Fund typically makes distributions in April, July,
October, and December. You may elect to receive
distributions in cash or have them reinvested in
additional shares of the Fund.
