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VAN KAMPEN AMERICAN CAPITAL
UTILITY FUND
SUPPLEMENT DATED NOVEMBER 2, 1995, TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED SEPTEMBER 1, 1995.
The section of the Statement of Additional Information captioned "Fund
Performance" is hereby supplemented as follows:
The Fund seeks to provide its shareholders with capital appreciation and
current income. The Fund will seek to achieve its investment objective by
investing in a diversified portfolio of common stocks and income securities
engaged in the utilities industry. Historically, the level of income
provided by a portfolio of utility bonds and stocks has exceeded that
available from conservative fixed-income investments. However, past
performance does not guarantee future results.
From time to time marketing materials may provide a portfolio manager
update on the Fund or discuss general economic conditions. The top 10
holdings of the Fund may also be listed in marketing pieces.
