Scudder Global Fund
Scudder International Bond Fund
Supplement to Statement of Additional Information dated November 1, 1996
The following paragraphs replace the second and third paragraphs under the
section entitled "Currency Transactions" on page 11:
Each Fund's dealings in forward currency contracts and other currency
transactions such as futures, options, options on futures and swaps will be
limited to hedging involving either specific transactions or portfolio
positions except as described below. Transaction hedging is entering into a
currency transaction with respect to specific assets or liabilities of the
Fund, which will generally arise in connection with the purchase or sale of
its portfolio securities or the receipt of income therefrom. Position
hedging is entering into a currency transaction with respect to portfolio
security positions denominated or generally quoted in that currency.
No Fund will enter into a transaction to hedge currency exposure to an
extent greater, after netting all transactions intended wholly or partially
to offset other transactions, than the aggregate market value (at the time
of entering into the transaction) of the securities held in its portfolio
that are denominated or generally quoted in or currently convertible into
such currency, other than with respect to proxy hedging or cross hedging
(or forward currency contracts, in the case of International Bond) as
described below.
April 7, 1997
