The Munder Funds
Supplement Dated September 30, 1996 to Prospectus Dated
October 28, 1995
Class Y Shares of:
Munder Multi-Season Growth Fund, Munder Real Estate Equity
Investment Fund, Munder Accelerating Growth Fund, Munder
Small Company Growth Fund, Munder Mid-Cap Growth Fund,
Munder International Equity Fund, Munder Index 500 Fund,
Munder Growth & Income Fund, Munder Value Fund, Munder
Balanced Fund, Munder Bond Fund, Munder Intermediate Bond
Fund, Munder U.S. Government Income Fund, Munder Michigan
Triple Tax-Free Bond Fund, Munder Tax-Free Bond Fund,
Munder Tax-Free Intermediate Bond Fund, Munder Money
Market Fund, Munder Tax-Free Money Market Fund, Munder
U.S. Treasury Money Market Fund and Munder Cash Investment
Fund
For Missouri Investors
The Accelerating Growth Fund and the Growth & Income Fund
may experience high portfolio turnover. A high portfolio
turnover rate involves larger brokerage commission
expenses or transaction costs which must be borne directly
by a Fund, and may result in the realization of short-term
capital gains which are taxable to shareholders as
ordinary income. See "Portfolio Instruments and Practices
- - Portfolio Transactions and Turnover."
The Growth & Income Fund may hold up to 20% of its total
assets in "junk bonds" or securities that are rated below
investment grade by Standard and Poor's Corporation
("S&P") or Moody's Investors Service, Inc. ("Moody's").
See "Portfolio Instruments and Practices - Equity
Securities" for additional information regarding the risks
associated with such investments.
The Small Company Growth Fund's and the International
Equity Fund's primary investments entail a degree of risk
that is not appropriate for investors requiring stability
of principal or income from their investments. See
"Investment Objectives and Policies - Small Company Growth
Fund" and "Portfolio Instruments and Practices - Foreign
Securities."
shared/bankgrp/munder/stickers/suppy.doc
