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THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated March 3, 2000
to Prospectus Dated October 26, 1999
Class A, B and C Shares of:
Munder Balanced Fund, Munder Equity Selection Fund, Munder Growth & Income
Fund, Munder Growth Opportunities 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 Global Financial Services Fund, Munder Framlington
Healthcare Fund and Munder Framlington International Growth Fund
AVAILABILITY OF SHARES
The Class C Shares of the Equity Selection Fund, Growth Opportunities Fund
and Framlington Global Financial Services Fund are not currently available for
purchase.
CLOSING OF VALUE FUND
Shares of the Value Fund are no longer available to new accounts but
additional investments may be made in existing accounts until April 14, 2000.
WAIVER OF SALES CHARGE FOR VALUE FUND
The contingent deferred sales charge imposed on redemptions for current
holders of Class B or Class C Shares of the Value Fund is being waived.
Current holders of Class A, Class B or Class C Shares of the Value Fund may
purchase Class A Shares of any Fund of the Company, the Trust or Framlington
at Net Asset Value if such shares are being purchased with proceeds from the
redemption of shares of the Value Fund.
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.
CHANGE OF NAME AND PERFORMANCE BENCHMARK FOR EQUITY SELECTION FUND
The Board of Directors of The Munder Funds, Inc. has changed the name of
the Equity Selection Fund to the Focus Growth Fund, and approved the change in
performance benchmark for the Fund. Accordingly, the section entitled "Risk
Return Summary--Principal Investment Strategies" of the Fund in the prospectus
is hereby deleted and replaced with the following:
The Fund pursues its goal by investing at least 65% of its assets in
equity securities.
The Fund invests in equity securities which the advisor believes are
undervalued compared to stocks of other companies in the same industry.
The Fund generally invests in companies with market capitalizations of
at least $1 billion.
The Fund diversifies its assets by industry in approximately the same
weightings as those of the Russell 1000 Growth Index.
The Fund may also invest in foreign securities.
SUPPROEQABC300
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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 serves as portfolio manager for separately
managed institutional accounts, and has been with the Advisor since 1993.
PORTFOLIO MANAGEMENT OF VALUE FUND
John S. Adams, Brian Wall and Heather Williams jointly manage the Fund. Mr.
Wall, who has managed the Fund since January 1998, was formerly a primary
analyst for the Fund. Prior to joining the Advisor in 1995, he was a Senior
Equity Analyst with Woodbridge Capital Management, Inc. (1994-1995). Mr.
Adams, Senior Portfolio Manager of the Advisor, has managed the Fund since
August 1999. Mr. Adams has managed institutional equity and balanced
portfolios for the Advisor since 1987. Ms. Williams has managed the Fund since
January 2000. Ms. Williams has managed institutional value portfolios for the
Advisor since 1996. Ms. Williams served as Vice President and Quantitative
Analyst for Loomis, Sayles & Company, L.P. (1992-1996).
CHANGE OF INVESTMENT OBJECTIVE FOR SMALL-CAP VALUE FUND AND 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. The
Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Value Fund from long-term capital appreciation, with its
secondary goal to provide income 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
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 on
analysis of current versus historical interest rate relationships and the
relative value of the bond market sectors.
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THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated March 3, 2000
to Prospectus Dated October 26, 1999
Class Y Shares of:
Munder Balanced Fund, Munder Equity Selection Fund, Munder Growth & Income
Fund, Munder Future Technology Fund, Munder Growth Opportunities Fund, Munder
International Equity Fund, Munder Micro-Cap Equity Fund, Munder Multi-Season
Growth Fund, Munder NetNet 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 Global
Financial Services 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 Short Term Treasury Fund, Munder Cash
Investment Fund, Munder Money Market Fund, Munder Tax-Free Money Market Fund
and Munder U.S. Treasury Money Market Fund
CLOSING OF VALUE FUND AND SHORT TERM TREASURY FUND
Shares of the Value Fund and Short Term Treasury Fund are no longer
available to new accounts but additional investments may be made in existing
accounts until April 14, 2000.
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.
CHANGE OF NAME AND PERFORMANCE BENCHMARK FOR EQUITY SELECTION FUND
The Board of Directors of The Munder Funds, Inc. has changed the name of
the Equity Selection Fund to the Focus Growth Fund, and approved the change in
performance benchmark for the Fund. Accordingly, the section entitled "Risk
Return Summary--Principal Investment Strategies" of the Fund in the prospectus
is hereby deleted and replaced with the following:
The Fund pursues its goal by investing at least 65% of its assets in
equity securities.
The Fund invests in equity securities which the advisor believes are
undervalued compared to stocks of other companies in the same industry.
The Fund generally invests in companies with market capitalizations of
at least $1 billion.
The Fund diversifies its assets by industry in approximately the same
weightings as those of the Russell 1000 Growth Index.
The Fund may also invest in foreign securities.
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 serves as portfolio manager for separately
managed institutional accounts, and has been with the Advisor since 1993.
PORTFOLIO MANAGEMENT OF VALUE FUND
John S. Adams, Brian Wall and Heather Williams jointly manage the Fund. Mr.
Wall, who has managed the Fund since January 1998, was formerly a primary
analyst for the Fund. Prior to joining the Advisor in 1995, he was a Senior
Equity Analyst with Woodbridge Capital Management, Inc. (1994-1995). Mr.
Adams, Senior Portfolio Manager of the Advisor, has managed the Fund since
August 1999. Mr. Adams has managed institutional equity and balanced
portfolios for the Advisor since 1987. Ms. Williams has managed the Fund since
January 2000. Ms. Williams has managed institutional value portfolios for the
Advisor since 1996. Ms. Williams served as Vice President and Quantitative
Analyst for Loomis, Sayles & Company, L.P. (1992-1996).
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.
SUPPROY300
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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.
ADDITION OF CO-MANAGER FOR SHORT TERM TREASURY FUND
Tom O'Rourke has been appointed co-manager of the Short Term Treasury Fund.
Mr. O'Rourke has managed short term institutional portfolios for the Advisor
since 1998. Prior to joining the Advisor, Mr. O'Rourke was employed by Kmart
Corporation as a manager of corporate finance. Mr. O'Rourke managed a fixed
income portfolio for the corporation's pension plan, as well as managing the
corporation's stable value portfolio for their 401(k) plan.
AVAILABILITY OF SHARES
The Class Y Shares of all the Funds except the Cash Investment Fund, Multi-
Season Growth Fund and the Money Market Fund are not currently available for
purchase in the State of Nebraska. The Class Y Shares of the Future Technology
Fund, Framlington Global Financial Services Fund, Growth Opportunities Fund
and Short Term Treasury Fund are not currently available for purchase in the
State of New Hampshire. The Class Y Shares of Framlington Global Financial
Services Fund, Growth Opportunities Fund and Short Term Treasury Fund are not
currently available for purchase in the State of Montana.
CHANGE OF INVESTMENT OBJECTIVE FOR SMALL-CAP VALUE FUND AND 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. The
Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Value Fund from long-term capital appreciation, with its
secondary goal to provide income 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 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.
