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 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 forward currency contracts
entered into for non-hedging purposes, in the case of International Bond
Fund, or to proxy hedging or cross hedging as described below.
April 16, 1997
