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MERRILL LYNCH GROWTH FUND
Supplement Dated April 21, 1998
to Prospectus Dated January 30, 1998
The disclosure set forth under "FEE TABLE" is modified as follows:
(g) The Manager has voluntarily agreed to waive a portion of its management
fee so that such fee is equal to 0.65% of average daily net assets not exceeding
$1 billion; 0.625% of average daily net assets exceeding $1 billion but not
exceeding $1.5 billion; 0.60% of average daily net assets exceeding $1.5 billion
but not exceeding $10 billion; and 0.575% of average daily net assets exceeding
$10 billion. See "Management of the Fund -- Management and Advisory
Arrangements"--page 18.
The disclosure set forth under "MANAGEMENT OF THE FUND--MANAGEMENT AND ADVISORY
ARRANGEMENTS" is modified as follows:
The Fund pays the Manager a monthly fee at the annual rate of 0.65% of the
average daily net assets of the Fund. The Manager has voluntarily agreed to
waive a portion of its management fee so that such fee is equal to 0.65% of
average daily net assets not exceeding $1 billion; 0.625% of average daily net
assets exceeding $1 billion but not exceeding $1.5 billion; 0.60% of average
daily net assets exceeding $1.5 billion but not exceeding $10 billion; and
0.575% of average daily net assets exceeding $10 billion.
Code #10479-0198ALL
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MERRILL LYNCH GROWTH FUND
Supplement Dated April 21, 1998
to the Statement of Additional Information Dated January 30, 1998
The disclosure set forth under "MANAGEMENT OF THE FUND--MANAGEMENT AND ADVISORY
ARRANGEMENTS" is modified as follows:
The Fund has entered into a management agreement with the Manager (the
"Management Agreement"). The Fund pays the Manager a monthly fee at the annual
rate of 0.65% of the average daily net assets of the Fund. The Manager has
voluntarily agreed to waive a portion of its management fee so that such fee is
equal to 0.65% of average daily net assets not exceeding $1 billion; 0.625% of
average daily net assets exceeding $1 billion but not exceeding $1.5 billion;
0.60% of average daily net assets exceeding $1.5 billion but not exceeding $10
billion; and 0.575% of average daily net assets exceeding $10 billion.
Code #10480-0198ALL