<PAGE>
Filed Pursuant to Rule 497(e)
Registration File No.: 33-23669
SUPPLEMENT TO THE PROSPECTUS OF
DEAN WITTER STRATEGIST FUND
DATED AUGUST 28, 1995
The sixth paragraph of the section entitled "The Fund and its Management"
in the above Prospectus is revised to reflect that, effective May 1, 1996,
the Trustees of the Fund have amended the Fund's Investment Management
Agreement to reduce the compensation received by the Investment Manager under
the Agreement for assets exceeding $1.5 billion, so that the compensation
under the Agreement is calculated daily by applying the following annual
rates to the Fund's net assets determined as of the close of each business
day: 0.60% of the portion of daily net assets not exceeding $500 million;
0.55% of the portion exceeding $500 million but not exceeding $1 billion;
0.50% of the portion exceeding $1 billion but not exceeding $1.5 billion; and
0.475% of the portion of daily net assets exceeding $1.5 billion.
April 18, 1996
