[Image] Scudder Global Fund Profile [Image]
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The fund profile, a supplement to the full prospectus, is designed as
an easy-to-read summary of fund risks, fees, and objectives. You can
click on any question to link to the Fund's prospectus and get more
information on that topic. Or, if you wish, you can proceed directly
to the Fund's prospectus. Once you have read the prospectus and
considered your investment goals, you can proceed to a Scudder Funds
application.
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Fund Profile
November 1, 1997
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1. What Is The Fund's Objective?
Scudder Global Fund seeks to provide long-term growth of capital
through investment primarily in equity securities of companies which
are incorporated in the U.S. or in foreign countries.
2. What Does The Fund Invest In?
The Fund invests primarily in common stock, preferred stock and debt
securities that may be converted into common stock. The Fund invests
on a worldwide basis in companies which are incorporated in the U.S.
or in foreign countries. The Fund invests in companies that the Fund's
investment adviser, Scudder, Stevens & Clark, Inc., believes will
benefit from global economic trends, promising technologies or
products and specific country opportunities resulting from changing
geopolitical, currency or economic relationships. It is expected that
investments will include companies of varying size as measured by
assets, sales or capitalization. The Fund will usually invest in at
least three countries, one of which may be the U.S. It also may invest
in the debt securities of U.S. and foreign issuers. It is expected
that investments will be spread broadly around the world.
3. What Are The Risks Of Investing In The Fund?
Global investing involves economic and political considerations and
possibly legal restrictions not typically found in U.S. markets, which
may affect the value of the Fund's investments. Also, 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, higher
brokerage costs, 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. Some of the
Fund's investments are denominated in foreign currencies, therefore,
the Fund may incur currency conversion costs and the strength or
weakness of the U.S. dollar against these currencies may result in
fluctuations of share price, which is likely to vary from day to day.
Movements of the stock markets or in the types of securities held in
the Fund's portfolio may affect the Fund's share price. You incur
principal risk when you invest because your shares, when sold, may be
worth more or less than what you paid for them.
In addition, the Fund's holdings in unrated securities and securities
rated below investment-grade (i.e., "junk bonds") carry a greater risk
of default and more price volatility than securities rated
investment-grade.
4. For Whom Is This Fund Appropriate?
You may wish to consider this Fund if you are seeking long-term
capital growth and:
o plan to hold your investment for the long-term (at least 5 years
or more),
o can tolerate fluctuation in share price,
o have or plan to have other investments for the benefit of
diversification, and
o understand the risks associated with global investing.
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 Global Fund are:
Shareholder transaction expenses --
Expenses charged directly to your account for various transactions.
Please note that there is a $5 service fee if you request redemption
proceeds via wire.
Sales Commission None
Commissions to Reinvest Dividends None
Redemption Fee None
Exchange Fee None
Annual Fund operating expenses --
Expenses paid by the Fund before it distributes its net investment
income, expressed as a percentage of the Fund's average daily net
assets. Figures below are for the fiscal year ended June 30, 1997.
Investment management fee 0.95%
12b-1 fees None
Other expenses 0.42%
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Total Fund operating expenses 1.37%
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Example:
Assuming a 5% annual return and redemption at the end of each
period, the total expenses relating to a $1,000 investment would be:
1 Year 3 Years 5 Years 10 Years
$14 $43 $75 $165
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.
6. How Has The Fund Performed Historically?
This chart shows how the Fund has performed over the past 10 years,
assuming reinvestment of all distributions. Performance is historical
and is no guarantee of future results. Total return and principal
value will fluctuate.
THE ORIGINAL DOCUMENT CONTAINS A BAR CHART HERE.
BAR CHART TITLE: Total returns for years ended December 31:
BAR CHART DATA:
1987 3.03%
1988 19.19
1989 37.41
1990 -6.40
1991 17.07
1992 4.54
1993 31.10
1994 -4.20
1995 20.53
1996 13.65
The Fund's Average Annual Total Return
for the period ended September 30, 1997
One Year 23.33%
Five Years 14.95%
Ten Years 11.09%
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. The Fund is managed by a team of Scudder
investment professionals, who each play an important role in the
Fund's management process.
Lead Portfolio Manager William E. Holzer has had day-to-day
responsibility for the Fund's worldwide strategy and investment themes
since its inception in 1986. Mr. Holzer, who has over 20 years'
experience in global investing, joined Scudder in 1980. Diego
Espinosa, Portfolio Manager, joined the team in 1997 and Scudder in
1996. Mr. Espinosa is also responsible for development of the Fund's
strategy and management of the portfolio on a daily basis. Mr.
Espinosa has six years of investment industry experience. Nicholas
Bratt, Portfolio Manager, directs Scudder's overall global equity
investment strategies. Mr. Bratt joined Scudder in 1976 and the team
in 1993.
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 $2,500,
except that shareholders may open an account with at least $1,000 if
an automatic investment plan of $100/month is established. Scudder
retirement plans and certain other accounts have similar or lower
minimum share balance requirements. A shareholder who maintains a
nonfiduciary account balance of less than $2,500 without establishing
an automatic investment plan, will be assessed an annual fee of
$10.00, payable to the Fund. Retirement accounts and certain other
accounts will not be assessed the $10.00 charge. You may also exchange
Fund 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 dividends and capital gains distributions, if
any, in November or December. You may elect to receive distributions
in cash or have them reinvested in additional shares of the Fund.
Generally, dividends from net investment income are taxable to
shareholders as ordinary income. Long-term capital gains
distributions, if any, are taxable as long-term capital gains
regardless of the length of time shareholders have owned their shares.
Short-term capital gains and any other taxable income distributions
are taxable as ordinary income. A portion of dividends from net
investment income may qualify for the dividends-received deduction for
corporations.
11. What Services Does Scudder Provide?
As a shareholder, you'll enjoy:
o professional service from representatives who can answer your
questions and execute your transactions
o automated toll-free touchtone access to account information,
share prices and yields, and to perform transactions
o Scudder's quarterly shareholder newsletter, Scudder Perspectives
o regular, informative reports about the performance of your Fund
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[Image]Scudder wants you to make informed investment decisions. This
Fund Profile contains key information about the Fund. If you would
like more information before you invest, please consult the Fund's
accompanying prospectus. For details about the Fund's holdings or
recent investment strategies, please review the Fund's most recent
annual or semiannual report. The reports are free and may be ordered
by calling 1-800-225-2470.
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