SCUDDER [LOGO]
Scudder Global Fund
Supplement to Prospectus
Dated November 1, 1996
Until September 11, 1997, the Fund's investment adviser, Scudder, Stevens &
Clark, Inc., has agreed to waive 0.05% of that portion of its investment
management fee payable by the Fund based on the average daily net assets of the
Fund in excess of $1.5 billion. It is expected that the Fund's Board of
Directors will approve an Investment Management Agreement effective September
11, 1997 containing a similar reduction in the investment management fee.
July 1, 1997
