BT INVESTMENT FUNDS
Global High Yield Securities Fund
Supplement to Prospectus dated January 31, 1997
Under the sub-section entitled "Portfolio Managers" on page 30, please
delete the biographies of David A. Reiss and Stephen C. Freidheim in
their entirety. Effective July 1997, Greg Hopper, Vice President of
Bankers Trust, has taken over the day-to-day management of the Global
High Yield Securities Portfolio. Mr. Hopper joined Bankers Trust in
1993 and is responsible for the management of corporate bond
investments. He has ten years of investment experience. Previously, he
worked as an officer at Paine Webber Group (Mitchell Hutchins), Drexel
Burnham Lambert and Fleet Financial Group.
July 24, 1997
EDGEWOOD SERVICES, INC.
Distributor
Cusip #055922777
SUPP478 (7/97)
