GLOBAL HIGH YIELD SECURITIES FUND
BT INVESTMENT FUNDS
Supplement to the Prospectus
Dated January 30, 1995
The following paragraph replaces the first paragraph under the heading
"PERFORMANCE INFORMATION AND REPORTS" on page 23 of the Fund's
prospectus:
The Fund's performance may be used from time to time in advertisements,
shareholder reports or other communications to shareholders or
prospective shareholders. Performance information may include the
Fund's investment results and/or comparisons of its investment results
to various unmanaged indices such as the JP Morgan Emerging Markets
Bonds Index and the Merrill Lynch High Yield Master Index, or results
of other mutual funds or investment or savings vehicles. The Fund will
compare its performance to the results of a blending of these Indexes.
The Fund's investment results as used in such communications will be
calculated on a total rate of return basis in the manner set forth
below. From time to time, fund rankings may be quoted from various
sources, such as Lipper Analytical Services, Inc.
Supplement Dated September 15, 1995
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