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INVESTORS FUND SERIES
SUPPLEMENT TO PROSPECTUS
Kemper Global Income Portfolio
Kemper International Portfolio
DATED MAY 1, 1998
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INVESTMENT MANAGER
Zurich Investment Management Limited ("ZIML") has been serving as sub-adviser
for the Kemper Global Income and Kemper International Portfolios of Investors
Fund Series pursuant to sub-advisory agreements with Scudder Kemper Investments,
Inc. ("Scudder Kemper"), the Fund's investment manager. ZIML, which was
previously a wholly owned subsidiary of Zurich Insurance Company, is now a
wholly owned subsidiary of Scudder Kemper and is now known as Scudder
Investments (U.K.) Limited ("Sub-Adviser"). As a result of this ownership
change, new sub-advisory agreements have been entered into between Scudder
Kemper and Sub-Adviser on the same terms as the previous agreements, which
terminated automatically.
Stephen P. Dexter and Marc J. Slendebroek have been the co-lead portfolio
managers for the Kemper International Portfolio of Investors Fund Series since
June 1998. Mr. Dexter joined Scudder Kemper in 1986 and is a Senior Vice
President. He received a B.A. in Economics and an M.B.A. in Finance from the
University of Wisconsin. Mr. Slendebroek joined Sub-Adviser in September 1994
and is an Associate Director. Prior to joining Sub-Adviser, Mr. Slendebroek was
a Manager of Dutch research at Kleinwort Benson Securities from 1992 to 1994. He
received a Masters Degree in Civil Law from the University of Leiden, in the
Netherlands.
June 22, 1998
IFS-1H (LOGO)PRINTED ON RECYCLED PAPER
