MUNDER FUNDS TRUST
497, 2000-06-27
Previous: VAN KAMPEN PRIME RATE INCOME TRUST, SC TO-I/A, 2000-06-27
Next: AMERISOURCE HEALTH CORP/DE, 11-K, 2000-06-27








                 THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS

                                The Munder Funds

                         Supplement Dated June 27, 2000

                      to Prospectus Dated October 26, 1999

                               Class K Shares of:

Munder Balanced Fund, Munder Equity Income Fund (formerly Munder Growth & Income
     Fund), Munder Growth Opportunities Fund, Munder Index 500 Fund, Munder
  International Equity Fund, Munder Micro-Cap Equity Fund, Munder Multi-Season
 Growth Fund, Munder Real Estate Equity Investment Fund, Munder Small-Cap Value
  Fund, Munder Small Company Growth Fund, Munder Value Fund, Munder Framlington
  Emerging Markets Fund, Munder Framlington Healthcare Fund, Munder Framlington
   International Growth Fund, Munder Bond Fund, Munder Intermediate Bond Fund,
   Munder International Bond Fund, Munder U.S. Government Income Fund, Munder
     Michigan Tax-Free Bond Fund, Munder Tax-Free Bond Fund, Munder Tax-Free
Short-Intermediate Bond Fund, Munder Cash Investment Fund, Munder Tax-Free Money
              Market Fundand Munder U.S. Treasury Money Market Fund

                                CHANGE OF ADDRESS

The section  entitled  "Your  Investment-How  to Reach the Funds by mail" in the
prospectus is hereby deleted and replaced with the following:  The Munder Funds,
c/o PFPC Global Fund Services, P.O. Box 60428, King of Prussia, PA 19406-0428.

              CHANGE OF NAME FOR FIRST DATA INVESTOR SERVICES GROUP

The name of First Data Investor  Services  Group has changed to PFPC Global Fund
Services.

                              CLOSING OF VALUE FUND

         Shares of the Value Fund are no longer available.

                     CHANGE OF NAME FOR GROWTH & INCOME FUND

         The Board of Trustees of The Munder Funds Trust has changed the name of
the Growth & Income Fund to the Equity Income Fund.

           PORTFOLIO MANAGEMENT OF REAL ESTATE EQUITY INVESTMENT FUND

     Robert E. Crosby is manager of the Real Estate Equity  Investment Fund. Mr.
Crosby has managed the Fund since March 1998 and was the Fund's primary  analyst
from 1996-1998. Mr. Crosby has been with the Advisor since 1993, and also serves
as portfolio manager for separately managed institutional accounts.

         PORTFOLIO MANAGEMENT OF BOND FUND, INTERMEDIATE BOND FUND AND
                           U.S. GOVERNMENT INCOME FUND

     Anne K.  Kennedy  and Peter G.  Root  jointly  manage  the Bond  Fund,  the
Intermediate  Bond Fund and U.S.  Government  Income  Fund.  Ms.  Kennedy,  Vice
President  and  Director of Portfolio  Management  of the Advisor or of Old MCM,
Inc.  ("Old MCM"),  the  predecessor  to the Advisor since 1991, has managed the
Bond  Fund  and the U.S.  Government  Income  Fund  since  January  2000 and the
Intermediate  Bond Fund since March 1995.  Mr. Root,  Vice  President  and Chief
Investment  Officer of Fixed Income of the Advisor since March 1995, has managed
the  Bond  Fund and  Intermediate  Bond  Fund  since  January  2000 and the U.S.
Government Income Fund since March 1995. Mr. Root joined Old MCM in 1991.

<PAGE>

                 PORTFOLIO MANAGEMENT OF INTERNATIONAL BOND FUND

     Sharon E. Fayolle and Peter G. Root jointly manage the  International  Bond
Fund. Ms.  Fayolle,  Vice President and Director of Money Market Trading for the
Advisor or Old MCM,  has managed the Fund since 1996.  Prior to that she managed
an international  portfolio for Ford Motor Company. Mr. Root, Vice President and
Chief  Investment  Officer of Fixed Income of the Advisor since March 1995,  has
managed the Fund since January 2000. Mr. Root joined Old MCM in 1991.

             CHANGE OF INVESTMENT OBJECTIVE FOR SMALL-CAP VALUE FUND

         The Board of  Directors  of The Munder  Funds,  Inc.  has  changed  the
investment  objective  of  the  Small-Cap  Value  Fund  from  long-term  capital
appreciation,  with  income  as  a  secondary  objective  to  long-term  capital
appreciation.

            CHANGE OF INVESTMENT POLICY FOR SMALL COMPANY GROWTH FUND

         The  Board of  Trustees  of The  Munder  Funds  Trust has  changed  the
investment  policy of the Small  Company  Growth  Fund to  increase  the  market
capitalization of the issuers considered to be small-cap companies. Accordingly,
the first  paragraph  of the section  entitled  "Risk  Return  Summary-Principal
Investment  Strategies"  of the Small Company  Growth Fund in the  prospectus is
hereby deleted and replaced with the following:

     The Fund pursues its goal by investing,  under normal market conditions, at
least 65% of its assets in equity securities of small  capitalization  companies
with market  capitalizations  below $1.5 billion,  which is less than the market
capitalization of S&P 500 companies.

              PRINCIPAL INVESTMENT STRATEGIES OF BALANCED FUND AND
                       REAL ESTATE EQUITY INVESTMENT FUND

         The  section   entitled  "Risk  Return   Summary-Principal   Investment
Strategies" of the Balanced Fund in the prospectus is hereby  supplemented  with
the following:

                  Stocks   are  chosen  on  the  basis  of   above-average   and
         sustainable   earnings  growth,   financial   stability  or  attractive
         valuation using the advisor's  proprietary GARP (Growth at a Reasonable
         Price) style,  which focuses both growth prospects and valuation.  Bond
         strategy focuses on analysis of current versus historical interest rate
         relationships and the relative value of the bond market sectors.

         The  section   entitled  "Risk  Return   Summary-Principal   Investment
Strategies"  of the Real Estate  Equity  Investment  Fund in the  prospectus  is
hereby supplemented with the following:

                  The advisor selects  companies  exhibiting  steady cash flows,
         financial stability, quality management and reasonable valuations.

                                   MANAGEMENT

         The last two paragraphs in the section entitled  "Management-Investment
Advisors And Sub-Advisor" in the prospectus are hereby deleted and replaced with
the following:

         During the fiscal year ended June 30, 1999,  each Fund paid an advisory
fee at an annual rate based on the  average  daily net assets of the Fund (after
waivers, if any) as follows:

Balanced Fund                                                   0.65%
Growth & Income Fund                                            0.75%
Growth Opportunities Fund                                       0.75%
Index 500 Fund                                                  0.07%
International Equity Fund                                       0.75%
Micro-Cap Equity Fund                                           1.00%
Multi-Season Growth Fund                                        0.75%
Real Estate Equity Investment Fund                              0.74%
Small-Cap Value Fund                                            0.75%
Small Company Growth Fund                                       0.75%
Framlington Emerging Markets Fund                               1.25%
Framlington Healthcare Fund                                     1.00%
Framlington International Growth Fund                           1.00%
Bond Fund                                                       0.50%
Intermediate Bond Fund                                          0.50%
International Bond Fund                                         0.50%
U.S. Government Income Fund                                     0.50%
Michigan Tax-Free Bond Fund                                     0.50%
Tax-Free Bond Fund                                              0.50%
Tax-Free Short-Intermediate Bond Fund                           0.50%
Cash Investment Fund                                            0.35%
Tax-Free Money Market Fund                                      0.35%
U.S. Treasury Money Market Fund                                 0.35%
<PAGE>

         During the fiscal year ended June 30,  1999,  a portion of the advisory
fees for the Index 500 Fund and the Multi-Season  Growth Fund were waived.  As a
result,  the payments shown above for those Funds were less than the contractual
advisory fees of .20% of the first $250 million of the Index 500 Fund's  average
daily net assets;  .12% of the next $250 million of the Fund's average daily net
assets and .07% of the Fund's  average  daily net assets  over $500  million and
1.00% of the first $500 million of the Multi-Season  Growth Fund's average daily
net assets and .75% of that Fund's average daily net assets over $500 million.

<PAGE>

                                The Munder Funds

                         Supplement Dated June 27, 2000

                      to Prospectus Dated October 26, 1999

                           Class A, B and C Shares of:

 Munder Cash Investment Fund, Munder Money Market Fund, Munder Tax-Free Money
             Market Fund and Munder U.S. Treasury Money Market Fund

                                CHANGE OF ADDRESS

The section  entitled  "Your  Investment-How  to Reach the Funds by mail" in the
prospectus is hereby deleted and replaced with the following:  The Munder Funds,
c/o PFPC Global Fund Services, P.O. Box 60428, King of Prussia, PA 19406-0428.

              CHANGE OF NAME FOR FIRST DATA INVESTOR SERVICES GROUP

The name of First Data Investor  Services  Group has changed to PFPC Global Fund
Services.

                         POLICIES FOR EXCHANGING SHARES

The third  bullet  point in the  section  entitled  "Your  Investment-Exchanging
Shares-Policies  for Exchanging  Shares" in the prospectus is hereby deleted and
replaced with the following:

o    You may  exchange  Class C shares  of the  Money  Market  Fund for Class II
     shares of other Munder Funds.

                          POLICIES FOR REDEEMING SHARES

The section entitled "Your  Investment-Redeeming  Shares-Policies  for Redeeming
Shares" in the prospectus is hereby deleted and replaced with the following:

o    For your protection,  a medallion  signature  guarantee is required for the
     following  redemption  requests:   (a)  redemption  proceeds  greater  than
     $50,000;  (b) redemption  proceeds not being payable to the  recordowner of
     the  account;  (c)  redemption  proceeds not being mailed to the address of
     record on the account; (d) if the redemption proceeds are being transferred
     to another Munder Fund account with a different registration; (e) change in
     ownership  or  registration  of the  account  or  (f)  changes  to  banking
     information  without a voided check being supplied.  When a Fund requires a
     signature  guarantee,  a medallion signature guarantee must be provided.  A
     medallion signature guarantee may be obtained from a domestic bank or trust
     company,  broker, dealer,  clearing agency,  savings association,  or other
     financial  institution  which  is  participating  in  a  medallion  program
     recognized by the Securities  Transfer  Association.  The three  recognized
     medallion  programs  are  Securities   Transfer  Agents  Medallion  Program
     (STAMP),  Stock  Exchanges  Medallion  Program  (SEMP)  and New York  Stock
     Exchange, Inc. Medallion Signature Program (NYSE MSP). Signature guarantees
     from financial  institutions  which are not  participating  in one of these
     programs will not be accepted.

                     CONTINGENT DEFERRED SALES CHARGE (CDSC)

The section  entitled  "Distribution  Arrangements-CDSC"  in the  prospectus  is
hereby deleted and replaced with the following:

         You pay a CDSC when you redeem:

o    Class A shares of the Money Market Fund within one year of buying them;
o    Class A shares of the Money  Market Fund  acquired  through the exchange of
     Class A shares of another  Munder  Fund  purchased  before June 27, 1995 as
     part of an investment of $500,000 or more;

<PAGE>

o    Class B shares of the Money  Market Fund  within six years of buying  them;
     and
o    Class C shares of the Money Market Fund within one year of buying them.

         These time periods  include the time you held the shares you  exchanged
to acquire Money Market Fund shares.

         You pay a 1% CDSC when you  redeem  Class A shares of the Money  Market
Fund:

o    that you acquired through the exchange of initial Class A shares of another
     Munder Fund;
o    if you acquired the initial Class A shares after June 27, 1995;and
o    if the initial shares were  purchased  without a sales charge in connection
     with an investment of $1,000,000 or more.

You pay a CDSC of 1% when you  redeem  Class C shares of the Money  Market  Fund
within one year of the date you  purchased  the initial  Class C shares that you
exchanged to acquire Money Market Fund shares.

The CDSC  schedule for Class B shares of the Money Market Fund  purchased  after
June  27,  1995  is  set  forth  below.  Consult  the  Statement  of  Additional
Information for the CDSC schedule for Class B shares purchased on or before June
27, 1995.  The CDSC is based on the original NAV at the time of your  investment
or the NAV at the time of  redemption,  whichever  is  lower.  Shares  purchased
through reinvestment of distributions are not subject to CDSC.

                                Money Market Fund Class B Shares
                                --------------------------------
                     Years Since Purchase                     CDSC
                     --------------------                     ----
                     First................................    5.00%
                     Second...............................    4.00%
                     Third................................    3.00%
                     Fourth...............................    3.00%
                     Fifth................................    2.00%
                     Sixth................................    1.00%
                     Seventh and thereafter...............    0.00%

If you sell some but not all of your shares,  certain shares not subject to CDSC
(i.e.,  shares  purchased with  reinvested  dividends)  will be redeemed  first,
followed  by shares  subject to the lowest CDSC  (typically  shares held for the
longest time).

For  example,  assume an investor  purchased  1,000 shares at $10 a share (for a
total cost of $10,000).  Three years later, the shares have a net asset value of
$12 per share and during that time, the investor  acquired 100 additional shares
through dividend reinvestment.  If the investor then makes one redemption of 500
shares (resulting in proceeds of $6,000,  500 shares x $12 per share), the first
100 shares  redeemed  will not be subject to the CDSC because they were acquired
through  reinvestment  of  dividends.  With respect to the  remaining 400 shares
redeemed,  the CDSC is charged at $10 per share  (because the original  purchase
price of $10 per share is lower  than the  current  net  asset  value of $12 per
share). Therefore, only $4,000 of the $6,000 such investor received from selling
his or her  shares  will  be  subject  to the  CDSC,  at a rate  of  3.00%  (the
applicable rate in the third year after purchase).

CDSC Waivers

We will waive the CDSC  payable upon  redemption  of Class B shares of the Money
Market Fund which you purchased after June 27, 1995 for:

o    redemptions  made  within  one year  after  the death of a  shareholder  or
     registered joint owner;
o    minimum  required  distributions  made from an IRA or other retirement plan
     account after you reach age 70 1/2;
o    involuntary redemptions made by the Fund;
o    redemptions  limited  to 10% per year of an  account's  net asset  value if
     taken by Systematic  Withdrawal Plan ("SWP").  For example, if your balance
     on  December  31st is $10,000,  you can redeem up to $1,000 that  following
     year free of charge through SWP.

We will waive the CDSC payable upon  redemptions  of shares which you  purchased
after  December  1, 1998 (or  acquired  through an exchange of shares of another
Munder Fund purchased after December 1, 1998) for:

o redemptions  made from an IRA or other  individual  retirement  plan  account
  established  through  Comerica  Securities,  Inc. after you reach age 59 1/2
  and after the eighteen month anniversary of the purchase of Fund shares.

Consult the  Statement of  Additional  Information  for Class A and Class B CDSC
waivers  which  apply  when you  redeem  shares  of the Money  Market  Fund
purchased on or before June 27, 1995.

<PAGE>

                THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS

                                The Munder Funds

                         Supplement Dated June 27, 2000

                      to Prospectus Dated October 26, 1999

                           Class A, B and C Shares of:

Munder Bond Fund, Munder Intermediate Bond Fund, Munder International Bond Fund,
   Munder U.S. Government Income Fund, Munder Michigan Tax-Free Bond Fund,
                 Munder Tax-Free Bond Fund and Munder Tax-Free
                          Short-Intermediate Bond Fund

                                CHANGE OF ADDRESS

The section  entitled  "Your  Investment-How  to Reach the Funds by mail" in the
prospectus is hereby deleted and replaced with the following:  The Munder Funds,
c/o PFPC Global Fund Services, P.O. Box 60428, King of Prussia, PA 19406-0428.

              CHANGE OF NAME FOR FIRST DATA INVESTOR SERVICES GROUP

The name of First Data Investor  Services  Group has changed to PFPC Global Fund
Services.

                         POLICIES FOR EXCHANGING SHARES

The second  bullet  point in the section  entitled  "Your  Investment-Exchanging
Shares-Policies  for Exchanging  Shares" in the prospectus is hereby deleted and
replaced with the following:

o You may exchange  Class C shares of a Fund for Class II shares of other Munder
  Funds.

                          POLICIES FOR REDEEMING SHARES

The section entitled "Your  Investment-Redeeming  Shares-Policies  for Redeeming
Shares" in the prospectus is hereby deleted and replaced with the following:

o    For your protection,  a medallion  signature  guarantee is required for the
     following  redemption  requests:   (a)  redemption  proceeds  greater  than
     $50,000;  (b) redemption  proceeds not being payable to the  recordowner of
     the  account;  (c)  redemption  proceeds not being mailed to the address of
     record on the account; (d) if the redemption proceeds are being transferred
     to another Munder Fund account with a different registration; (e) change in
     ownership  or  registration  of the  account  or  (f)  changes  to  banking
     information without a voided check being supplied.  When a Fund requires a
     signature  guarantee,  a medallion signature guarantee must be provided.  A
     medallion signature guarantee may be obtained from a domestic bank or trust
     company,  broker, dealer,  clearing agency,  savings association,  or other
     financial  institution  which  is  participating  in  a  medallion  program
     recognized by the Securities  Transfer  Association.  The three  recognized
     medallion  programs  are  Securities   Transfer  Agents  Medallion  Program
     (STAMP),  Stock  Exchanges  Medallion  Program  (SEMP)  and New York  Stock
     Exchange, Inc. Medallion Signature Program (NYSE MSP). Signature guarantees
     from financial  institutions  which are not  participating  in one of these
     programs will not be accepted.

                             REINVESTMENT PRIVILEGE

The paragraph  pertaining to the Reinvestment  Privilege in the section entitled
"Your Investment-Shareholder Privileges" in the prospectus is hereby deleted and
replaced with the following:
<PAGE>

         Reinvestment  Privilege.  For 60 days after you sell  shares of a Fund,
         you may reinvest your  redemption  proceeds in shares of the same class
         of the  SAME  Fund at NAV.  Any CDSC  you  paid on the  amount  you are
         reinvesting  will be  credited  to  your  account.  You  may  use  this
         privilege  once in any given  twelve-month  period with respect to your
         shares of a Fund.  You,  your  broker or your  financial  advisor  must
         notify the Funds' transfer agent in writing at the time of reinvestment
         in order to eliminate the sales charge on your reinvestment.

                              SALES CHARGE WAIVERS

The first  sentence of Sales  Charge  Waivers-General  in the  section  entitled
"Distribution  Arrangements-Applicable  Sales  Charge  Class  A  Shares"  in the
prospectus is hereby deleted and replaced with the following:

         We will  waive  the  initial  sales  charge  on Class A shares  for the
         following  types of  purchasers  (the word  "advisor" in the  following
         refers to Munder Capital Management, the advisor to The Munder Funds).

                              RIGHT OF ACCUMULATION

The paragraph  pertaining to the Right of Accumulation  in the section  entitled
"Distribution  Arrangements-Applicable Sales Charge Class A Shares- Sales Charge
Reductions" in the prospectus is hereby deleted and replaced with the following:

o Right of  Accumulation.  You may add the value of any other  Class A shares of
non-money market Munder Funds you already own to the amount of your next Class A
share investment for purposes of calculating the sales charge at the time of the
current  purchase.  You must notify your broker,  your financial  advisor or the
Funds' transfer agent to qualify.

                     CONTINGENT DEFERRED SALES CHARGE (CDSC)

The section  entitled  "Distribution  Arrangements-CDSC"  in the  prospectus  is
hereby deleted and replaced with the following:

You pay a CDSC when you redeem:

o  Class A shares that were bought as part of an investment of at least
   $1 million within one year of buying them;
o  Class B shares within six years of buying them; and
o  Class C shares within one year of buying them.

These time periods include the time you held Class B, Class C or Class II shares
of  another  Munder  Fund which you may have  exchanged  for Class B, Class C or
Class II shares of the Fund you are redeeming.

The CDSC schedule for Class B shares  purchased after June 27, 1995 is set forth
below.  If you acquired  Class B shares by exchanging  shares of another  Munder
Fund which you  purchased on or before June 27, 1995,  consult the  Statement of
Additional  Information for the applicable  CDSC schedule.  The CDSC is based on
the  original  NAV at the  time of  your  investment  or the NAV at the  time of
redemption,  whichever  is  lower.  Shares  purchased  through  reinvestment  of
distributions are not subject to CDSC.

                     Years Since Purchase                     CDSC
                     --------------------                     ----
                     First.................................   5.00%
                     Second................................   4.00%
                     Third.................................   3.00%
                     Fourth................................   3.00%
                     Fifth.................................   2.00%
                     Sixth.................................   1.00%
                     Seventh and thereafter................   0.00%
<PAGE>

If you sell some but not all of your shares,  certain shares not subject to CDSC
(i.e., shares  purchased  with  reinvested  dividends)  will  be redeemed first,
followed  by shares  subject to the lowest CDSC  (typically  shares held for the
longest time).

For example,  assume an investor purchased 1,000  shares  at $10 a share (for  a
total cost of $10,000).  Three  years later,  the  shares have a net asset value
of $12 per share and during that time,  the  investor  acquired  100  additional
shares through dividend reinvestment.  If the investor then makes one redemption
of 500 shares (resulting in proceeds of $6,000, 500 shares x $12 per share), the
first 100 shares  redeemed  will not be subject  to the CDSC  because  they were
acquired  through  reinvestment of dividends.  With respect to the remaining 400
shares  redeemed,  the CDSC is charged at $10 per share  (because  the  original
purchase price of $10 per share is lower than the current net asset value of $12
per share).  Therefore,  only $4,000 of the $6,000 such  investor  received from
selling his or her shares  will be subject to the CDSC,  at a rate of 3.00% (the
applicable rate in the third year after purchase).

At the time of  purchase of Class B shares,  the Funds'  distributor  pays sales
commissions  of  4.00%  of  the  purchase  price  to  brokers  that initiate and
are responsible for purchases of such Class B shares.

CDSC Waivers

We   will  waive  the  CDSC  payable  upon  redemptions  of  shares  which  you
purchased  after June  27,1995  (or  acquired  through an  exchange of shares of
another Munder Fund purchased after June 27, 1995) for:

o redemptions  made  within  one  year  after  the  death of a  shareholder  or
  registered  joint owner;
o minimum  required  distributions  made from an IRA or
  other retirement plan account after you reach age 70 1/2;
o involuntary redemptions made by the Fund;
o redemptions  limited to 10% per year of an account's net asset value if taken
  by Systematic  Withdrawal Plan ("SWP"). For example, if your balance on
  December 31st is $10,000 you can redeem up to $1,000 that  following  year
  free of charge through SWP.

We  will  waive  the  CDSC  payable  upon  redemptions  of  shares  which  you
purchased  after December 1, 1998 (or acquired  through an exchange of shares of
another Munder Fund purchased after December 1, 1998) for:

o    redemptions  made from an IRA or other  individual  retirement plan account
     established  through Comerica  Securities,  Inc. after you reach age 59 1/2
     and after the eighteen month anniversary of the purchase of Fund shares.

     Consult the  Statement of Additional  Information  for Class B CDSC waivers
which  apply when you redeem  shares  purchased  on or before  June 27, 1995 (or
acquired  through an exchange of shares of another  Munder Fund  purchased on or
before June 27, 1995).

We will  waive  the CDSC  for  Class B  shares  for all  redemptions  by Merrill
Lynch Plans if:

(i)  the Plan is recordkept on a daily valuation basis by Merrill Lynch; or
(ii) the  Plan is  recordkept  on a  daily  valuation  basis  by an independent
     recordkeeper  whose services are provided through a contract or alliance
     arrangement with Merrill Lynch; or
(iii)the Plan has less than 500 eligible employees, as determined by the Merrill
     Lynch plan conversion  manager, on the date the plan sponsor signs the
     Merrill Lynch Recordkeeping Service Agreement.
<PAGE>

     PORTFOLIO MANAGEMENT OF MUNDER BOND FUND, MUNDER INTERMEDIATE BOND FUND
                     AND MUNDER U.S. GOVERNMENT INCOME FUND

Anne K. Kennedy and Peter G. Root jointly manage the Bond Fund, the Intermediate
Bond Fund and U.S.  Government  Income Fund.  Ms.  Kennedy,  Vice  President and
Director of Portfolio Management of the Advisor or of Old MCM, Inc. ("Old MCM"),
the  predecessor  to the Advisor  since 1991,  has managed the Bond Fund and the
U.S.  Government  Income Fund since January 2000 and the Intermediate  Bond Fund
since March 1995. Mr. Root, Vice President and Chief Investment Officer of Fixed
Income  of the  Advisor  since  March  1995,  has  managed  the  Bond  Fund  and
Intermediate  Bond Fund since January 2000 and the U.S.  Government  Income Fund
since March 1995. Mr. Root joined Old MCM in 1991.

             PORTFOLIO MANAGEMENT OF MUNDER INTERNATIONAL BOND FUND

Sharon E. Fayolle and Peter G. Root jointly manage the International  Bond Fund.
Ms. Fayolle, Vice President and Director of Money Market Trading for the Advisor
or Old MCM,  has  managed  the Fund  since  1996.  Prior to that she  managed an
international  portfolio for Ford Motor  Company.  Mr. Root,  Vice President and
Chief  Investment  Officer of Fixed Income of the Advisor since March 1995,  has
managed the Fund since January 2000. Mr. Root joined Old MCM in 1991.


<PAGE>

                THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS

                                The Munder Funds

                         Supplement Dated June 27, 2000

                      to Prospectus Dated October 26, 1999

                           Class A, B and C Shares of:

                              Munder Index 500 Fund

                             AVAILABILITY OF SHARES

The Class C shares of the Fund are not currently available.

                                CHANGE OF ADDRESS

The  section  entitled  "Your  Investment-How  to Reach the Fund by mail" in the
prospectus is hereby deleted and replaced with the following:  The Munder Funds,
c/o PFPC Global Fund Services, P.O. Box 60428, King of Prussia, PA 19406-0428.

              CHANGE OF NAME FOR FIRST DATA INVESTOR SERVICES GROUP

The name of First Data Investor  Services  Group has changed to PFPC Global Fund
Services.

                          POLICIES FOR REDEEMING SHARES

The section entitled "Your  Investment-Redeeming  Shares-Policies  for Redeeming
Shares" in the prospectus is hereby deleted and replaced with the following:

o    For your protection,  a medallion  signature  guarantee is required for the
     following  redemption  requests:   (a)  redemption  proceeds  greater  than
     $50,000;  (b) redemption  proceeds not being payable to the  recordowner of
     the  account;  (c)  redemption  proceeds not being mailed to the address of
     record on the account; (d) if the redemption proceeds are being transferred
     to another Munder Fund account with a different registration; (e) change in
     ownership  or  registration  of the  account  or  (f)  changes  to  banking
     information without a voided check being supplied. When the Fund requires a
     signature  guarantee,  a medallion signature guarantee must be provided.  A
     medallion signature guarantee may be obtained from a domestic bank or trust
     company,  broker, dealer,  clearing agency,  savings association,  or other
     financial  institution  which  is  participating  in  a  medallion  program
     recognized by the Securities  Transfer  Association.  The three  recognized
     medallion  programs  are  Securities   Transfer  Agents  Medallion  Program
     (STAMP),  Stock  Exchanges  Medallion  Program  (SEMP)  and New York  Stock
     Exchange, Inc. Medallion Signature Program (NYSE MSP). Signature guarantees
     from financial  institutions  which are not  participating  in one of these
     programs will not be accepted.

                             REINVESTMENT PRIVILEGE

The paragraph  pertaining to the Reinvestment  Privilege in the section entitled
"Your Investment-Shareholder Privileges" in the prospectus is hereby deleted and
replaced with the following:

         Reinvestment Privilege.  For 60 days after you sell shares of the Fund,
         you may reinvest your  redemption  proceeds in shares of the same class
         of the  SAME  Fund at NAV.  Any CDSC  you  paid on the  amount  you are
         reinvesting  will be  credited  to  your  account.  You  may  use  this
         privilege  once in any given  twelve-month  period with respect to your
         shares of the Fund.  You,  your broker or your  financial  advisor must
         notify the Fund's transfer agent in writing at the time of reinvestment
         in order to eliminate the sales charge on your reinvestment.


<PAGE>

                              SALES CHARGE WAIVERS

The first  sentence of Sales  Charge  Waivers-General  in the  section  entitled
"Distribution  Arrangements-Applicable  Sales  Charge  Class  A  Shares"  in the
prospectus is hereby deleted and replaced with the following:

         We will  waive  the  initial  sales  charge  on Class A shares  for the
         following  types of  purchasers  (the word  "advisor" in the  following
         refers to Munder Capital Management, the advisor to The Munder Funds).

The chart in Qualified Employer Sponsored  Retirement Plans and UPI Plans in the
section  entitled  "Distribution  Arrangements-Applicable  Sales  Charge Class A
Shares- Sales Charge  Waivers-Qualified  Employer Sponsored Retirement Plans" in
the prospectus is hereby deleted and replaced with the following:

<TABLE>

Amount of Purchase                                Discount to Dealer or Entity as a % of Offering Price
------------------                                -----------------------------------------------------
<S>                                                                        <C>
Less than $1,000,000.........................                              0.15%
$1,000,0000 but less than $3,000,000.........                              0.10%
$3,000,000 but less than $5,000,000..........                              0.05%
$5,000,000 or more...........................                              None
</TABLE>

                              RIGHT OF ACCUMULATION

The paragraph  pertaining to the Right of Accumulation  in the section  entitled
"Distribution  Arrangements-Applicable Sales Charge Class A Shares- Sales Charge
Reductions" in the prospectus is hereby deleted and replaced with the following:

         o    Right of Accumulation.  You may add the value of any other Class A
              shares of  non-money  market  Munder  Funds you already own to the
              amount of your  next  Class A share  investment  for  purposes  of
              calculating the sales charge at the time of the current  purchase.
              You must notify your broker,  your financial advisor or the Fund's
              transfer agent to qualify.

                     CONTINGENT DEFERRED SALES CHARGE (CDSC)

The section  entitled  "Distribution  Arrangements-CDSC"  in the  prospectus  is
hereby deleted and replaced with the following:

You pay a CDSC when you redeem:

o    Class A  shares  that  were  bought  as part of an  investment  of at least
     $500,000 within one year of buying them;
o    Class B shares within six years of buying them; and
o    Class C shares within one year of buying them.

These time periods include the time you held Class B, Class C or Class II shares
of  another  Munder  Fund which you may have  exchanged  for Class B, Class C or
Class II shares of the Fund.

The CDSC schedule for Class B shares  purchased after June 27, 1995 is set forth
below.  If you acquired  Class B shares by exchanging  shares of another  Munder
Fund which you  purchased on or before June 27, 1995,  consult the  Statement of
Additional  Information for the applicable  CDSC schedule.  The CDSC is based on
the  original  NAV at the  time of  your  investment  or the NAV at the  time of
redemption,  whichever  is  lower.  Shares  purchased  through  reinvestment  of
distributions are not subject to CDSC.

                 Years Since Purchase                        CDSC
                 --------------------                        ----
                 First................................       3.00%
                 Second...............................       2.50%
                 Third................................       2.00%
                 Fourth...............................       1.50%
                 Fifth................................       1.00%
                 Sixth................................       0.50%
                 Seventh and thereafter...............       0.00%
<PAGE>

If you sell some but not all of your shares,  certain shares not subject to CDSC
(i.e.,  shares  purchased with  reinvested  dividends)  will be redeemed  first,
followed  by shares  subject to the lowest CDSC  (typically  shares held for the
longest time).

For  example,  assume an investor  purchased  1,000 shares at $10 a share (for a
total cost of $10,000).  Three years later, the shares have a net asset value of
$12 per share and during that time, the investor  acquired 100 additional shares
through dividend reinvestment.  If the investor then makes one redemption of 500
shares (resulting in proceeds of $6,000,  500 shares x $12 per share), the first
100 shares  redeemed  will not be subject to the CDSC because they were acquired
through  reinvestment  of  dividends.  With respect to the  remaining 400 shares
redeemed,  the CDSC is charged at $10 per share  (because the original  purchase
price of $10 per share is lower  than the  current  net  asset  value of $12 per
share). Therefore, only $4,000 of the $6,000 such investor received from selling
his or her  shares  will  be  subject  to the  CDSC,  at a rate  of  2.00%  (the
applicable rate in the third year after purchase).

At the time of purchase  of Class B shares,  the Fund's  distributor  pays sales
commissions  of 2.00% of the  purchase  price to brokers  that  initiate and are
responsible for purchases of such Class B shares.

CDSC Waivers

We will waive the CDSC payable upon  redemptions of shares of the Fund which you
purchased  after June 27,  1995 (or  acquired  through an  exchange of shares of
another Munder Fund purchased after June 27, 1995) for:

o    redemptions  made  within  one year  after  the death of a  shareholder  or
     registered joint owner; o minimum required  distributions  made from an IRA
     or other retirement plan account after you reach age 70 1/2;
o    involuntary redemptions made by the Fund;
o    redemptions  limited  to 10% per year of an  account's  net asset  value if
     taken by Systematic  Withdrawal Plan ("SWP").  For example, if your balance
     on December 31st is $10,000 you can redeem up to $1,000 that following year
     free of charge through SWP.

We will waive the CDSC payable upon  redemptions of shares of the Fund which you
purchased  after December 1, 1998 (or acquired  through an exchange of shares of
another Munder Fund purchased after December 1, 1998) for:

o    redemptions  made from an IRA or other  individual  retirement plan account
     established  through Comerica  Securities,  Inc. after you reach age 59 1/2
     and after the eighteen month anniversary of the purchase of Fund shares.

Consult the Statement of Additional  Information  for Class B CDSC waivers which
apply when you redeem  shares of the Fund  purchased  on or before June 27, 1995
(or acquired  through an exchange of shares of another  Munder Fund purchased on
or before June 27, 1995).

We will waive the CDSC for Class B shares for all  redemptions  by Merrill Lynch
Plans if:

(i)  the Plan is recordkept on a daily valuation basis by Merrill Lynch; or
(ii) the  Plan  is  recordkept  on a daily  valuation  basis  by an  independent
     recordkeeper  whose  services are  provided  through a contract or alliance
     arrangement with Merrill Lynch; or
(iii)the  Plan has  less  than 500  eligible  employees,  as  determined  by the
     Merrill Lynch plan conversion  manager,  on the date the plan sponsor signs
     the Merrill Lynch Recordkeeping Service Agreement.

<PAGE>

                                The Munder Funds

                         Supplement Dated June 27, 2000

                      to Prospectus Dated October 26, 1999

                               Class Y Shares of:

                              Munder Index 500 Fund

                                CHANGE OF ADDRESS

The  section  entitled  "Your  Investment-How  to Reach the Fund by mail" in the
prospectus is hereby deleted and replaced with the following:  The Munder Funds,
c/o PFPC Global Fund Services, P.O. Box 60428, King of Prussia, PA 19406-0428.

              CHANGE OF NAME FOR FIRST DATA INVESTOR SERVICES GROUP

The name of First Data Investor  Services  Group has changed to PFPC Global Fund
Services.


Top Judgements:
Saskatoon Co-operative Association Limited v United Food and Commercial Workers | Aug 15, 2022
Old Lakeshore Inc. v City of Burlington | Sep 2, 2022
Tietz v. Affinor Growers Inc. | Sep 13, 2022
Efficiencyone (E1) | Sep 6, 2022
President's Choice Bank v. The Queen | Jul 19, 2022
First Global Data Ltd | Sep 15, 2022
Rayonier v Unifor, Locals 256 and 89 | Aug 11, 2022
Alberta Workers’ Compensation Appeals Commission | Decision No. 2021-0334 | Jul 14, 2022
Metrowest Developments Ltd v Flynn Canada Ltd | Sep 14, 2022
R. v. Cameron | Jul 15, 2022
Functional Servicing and Stormwater Management | Jul 28, 2022
101034761 Saskatchewan Ltd. v Mossing | Aug 24, 2022
Waste Control Services Inc. v International Union of Operating Engineers, Local No. 115 | Aug 12, 2022
RJM56 Holdings Inc. c. Bazinet | Aug 17, 2022
Sherwood v The Owners, Strata Plan VIS 1549 | Aug 9, 2022
WCAT Decision A2001487 | Aug 8, 2022
City of Hamilton v Ontario Water Employees’ Association | Sep 12, 2022
Century Services Corp. v. LeRoy | Jul 8, 2022
United Food and Commercial Workers, Local 175 v Metro Ontario Inc. | Jul 4, 2022
Langmaid’s Island Corporation v Lake of Bays | Sep 12, 2022
WCAT Decision A2102416 | Jul 22, 2022
Inquiry about McAbee Fossil beds | Jul 14, 2022
1088558 Ontario Inc. v. Musial | Sep 16, 2022
Biogen Canada Inc. v. Pharmascience Inc. | Aug 8, 2022
CIC Management Services Inc. v City of Toronto | Jul 21, 2022
Bonterra Energy Corp v Rosells’ Enterprises Ltd | Aug 31, 2022
WCAT Decision A2100606 | Aug 17, 2022
Leffler v Aaron Behiel Legal Professional Corporation | Jun 30, 2022
Espartel Investments v. MTCC No. 993 | Aug 19, 2022
Onespace Unlimited Inc. v. Plus Development Group Corp. | Sep 19, 2022
Professional Institute of the Public Service of Canada v. Canada Revenue Agency | Jun 23, 2022
Community Savings Credit Union v. Bodnar | Jul 29, 2022
Galperti SRL v F.I.A.L. Finanziaria Industrie Alto Lario S.P.A | Jun 30, 2022
WCAT Decision A2102352 | Jul 6, 2022
WCAT Decision A2102306 | Jul 25, 2022
Thrive Capital Management Ltd. v. Noble 1324 Queen Inc. | Jul 12, 2022
Questor Technology Inc v Stagg | Sep 8, 2022
MediPharm v. Hexo and Hwang | Jul 25, 2022
Immunization rates & vaccine hesitancy | Aug 17, 2022
Morabito v. British Columbia Securities Commission | Aug 12, 2022
Killeleagh v Mountain View County (Development Authority) | Aug 24, 2022
Quality Control Council v Stanley Inspection Canada Ltd. | Sep 9, 2022
British Columbia Investment Management Corporation | Aug 17, 2022
Abbeylawn Manor Living Inc. v Sevice Employees International Union, Local 1 Canada | Jul 5, 2022
Windrift Adventures Inc. et al. v. Chief Animal Welfare Inspector | Aug 18, 2022
Irani and Khan v. Registrar, Motor Vehicle Dealers Act | Jul 14, 2022
CP REIT Ontario Properties Limited v City of Toronto | Aug 12, 2022
Potash Corporation of Saskatchewan Inc. v. The Queen | Jul 7, 2022
Wong v. Pretium Resources Inc. | Jul 22, 2022
Labourers' International Union of North America, Local 183, Union v Mulmer Services Ltd. | Aug 5, 2022
City of Mississauga v. Hung | Sep 22, 2022
Secretary of the Ministry of Health v The New South Wales Nurses and Midwives' Association (28 September 2022)
Orewa Community Church v Minister for Covid-19 Response (16 August 2022)
Yeshiva College Bondi Limited v NSW Education Standards Authority (15 August 2022)
Moreland Planning Scheme Amendment C208more | Heritage Nominations Study | Panel Report | 15 July 2022
New Zealand Tegel Growers Association Incorporated | 2 August 2022
Farrow-Smith and Comcare (Compensation) | 26 September 2022
Evolution Fleet Services Pty Ltd v Allroads Plant Pty Ltd | 14 September 2022
656621 B.C. Ltd. v David Moerman Painting Ltd. | Sep 27, 2022
Fraser Valley Packers Inc. v Raiwal Holdings Ltd | Sep 26, 2022
Parmar v Tribe Management Inc. | Sep 26, 2022
DES Studio inc. c. Shuchat | Sep 26, 2022
Van-Kam Freightways Ltd. v Teamsters Local Union No. 31 | Sep 28, 2022
Rogers Communication Inc. v British Columbia | Sep 28, 2022
Alderbridge Way GP Ltd. | Sep 28, 2022

© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission