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Deutsche Asset Management
Institutional Daily Assets Fund
Supplement dated October 1, 2000 (Replacing Supplement dated October 18, 1999)
to the Fund's Confidential Statement of Additional Information dated October 27,
1998
The following replaces the applicable sections of "Management of the Trust" in
the Fund's Confidential Statement of Additional Information:
Trustees of the Trust
CHARLES P. BIGGAR (birth date: October 13, 1930) -- Trustee of the Trust;
Trustee of each of the other investment companies in the Deutsche Asset
Management Fund Complex/1/; Retired; formerly Vice President, International
Business Machines ("IBM") and President, National Services and the Field
Engineering Divisions of IBM. His address is 12 Hitching Post Lane, Chappaqua,
New York 10514.
S. LELAND DILL (birth date: March 28, 1930) -- Trustee of the Trust; Trustee of
each of the other investment companies in the Deutsche Asset Management Fund
Complex; Retired; formerly Partner, KPMG Peat Marwick; Director, Vintners
International Company Inc., Coutts (U.S.A.) International, Coutts Trust Holdings
Ltd., Coutts Group (registered investment companies); Trustee, Phoenix Zweig
Series Trust, Phoenix Euclid Market Neutral Fund (registered investment
companies); General Partner, Pemco (a registered investment company). His
address is 5070 North Ocean Drive, Singer Island, Florida 33404.
MARTIN J. GRUBER (birth date: July 15, 1937) -- Trustee of the Trust; Trustee of
each of the other investment companies in the Deutsche Asset Management Fund
Complex; Nomura Professor of Finance, Leonard N. Stern School of Business, New
York University (since 1964); Trustee, TIAA (registered investment company);
Director, S.G. Cowen Mutual Funds, Japan Equity Fund, Inc., Taiwan Equity Fund,
Inc. (registered investment companies). His address is 229 South Irving Street,
Ridgewood, New Jersey 07450.
A Member of the
Deutsche Bank Group [/]
----------------
/1/The "Deutsche Asset Management Fund Complex" consists of BT Investment Funds,
BT Institutional Funds, BT Pyramid Mutual Funds, BT Adviser Funds, Cash
Management Portfolio, Intermediate Tax Free Portfolio, Tax Free Money Portfolio,
NY Tax Free Money Portfolio, Treasury Money Portfolio, International Equity
Portfolio, Equity 500 Index Portfolio, Capital Appreciation Portfolio, Asset
Management Portfolio and BT Investment Portfolios.
<PAGE>
RICHARD HALE* (birth date: July 17, 1945) -- Trustee of the Trust; Trustee of
each of the other investment companies in the Deutsche Asset Management Fund
Complex; Managing Director, Deutsche Asset Management; Director, Flag Investors
Funds and ISI Family of Funds (registered investment companies); President,
Morgan Grenfell Investment Trust (registered investment company); Managing
Director, DB Alex. Brown LLC; Director and President, Investment Company Capital
Corp. (registered investment adviser); Chartered Financial Analyst. His address
is One South Street, Baltimore, Maryland 21202.
RICHARD J. HERRING (birth date: February 18, 1946) -- Trustee of the Trust;
Trustee of each of the other investment companies in the Deutsche Asset
Management Fund Complex; Jacob Safra Professor of International Banking and
Professor, Finance Department, The Wharton School, University of Pennsylvania
(since 1972). His address is 325 South Roberts Road, Bryn Mawr, Pennsylvania
19010.
BRUCE E. LANGTON (birth date: May 10, 1931) -- Trustee of the Trust; Trustee of
each of the other investment companies in the Deutsche Asset Management Fund
Complex; Retired; formerly Assistant Treasurer of IBM Corporation (until 1986);
Trustee and Member, Investment Operations Committee, Allmerica Financial Mutual
Funds (1992-present); Member, Investment Committee, Unilever U.S. Pension and
Thrift Plans (1989 to present) (a registered investment company); Director, TWA
Pilots Directed Account Plan and 401(k) Plan (1988 to present) (a registered
investment company). His address is 99 Jordan Lane, Stamford, Connecticut
06903.
PHILIP SAUNDERS, JR. (birth date: October 11, 1935) -- Trustee of the Trust;
Trustee of each of the other investment companies in the Deutsche Asset
Management Fund Complex; Principal, Philip Saunders Associates (Economic and
Financial Consulting); former Director, Financial Industry Consulting, Wolf &
Company; President, John Hancock Home Mortgage Corporation; Senior Vice
President of Treasury and Financial Services, John Hancock Mutual Life Insurance
Company, Inc. His address is Philip Saunders Associates, 445 Glen Road, Weston,
Massachusetts 02493.
HARRY VAN BENSCHOTEN (birth date: February 18, 1928) -- Trustee of the Trust;
Trustee of each of the other investment companies in the Deutsche Asset
Management Fund Complex; Retired; Corporate Vice President, Newmont Mining
Corporation (prior to 1987); Director, Canada Life Insurance Corporation of New
York (since 1987). His address is 6581 Ridgewood Drive, Naples, Florida 34108.
* "Interested Person" within the meaning of Section 2(a)(19) of the Act.
The Board has an Audit Committee that meets with the Trust's independent
auditors to review the financial statements of the Trust, the adequacy of
internal controls and the accounting procedures and policies of the Trust. Each
member of the Board except Mr. Hale also is a member of the Audit Committee.
Officers of the Trust
RICHARD T. HALE (birth date: July 17, 1945) - President and Chief Executive
Officer of the Trust; Trustee of each of the other investment companies in the
Deutsche Asset Management
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Fund Complex; Managing Director, Deutsche Asset Management; Director, Flag
Investors Funds and ISI Family of Funds (registered investment companies);
President, Morgan Grenfell Investment Trust (registered investment company);
Managing Director, DB Alex. Brown LLC; Director and President, Investment
Company Capital Corp. (registered investment adviser); Chartered Financial
Analyst. His address is One South Street, Baltimore, Maryland 21202.
DANIEL O. HIRSCH (birth date: March 27, 1954) -- Secretary of the Trust;
Director, Deutsche Asset Management Americas since 1999; Director, DB Alex.
Brown LLC and Investment Company Capital Corp. since July 1998; Assistant
General Counsel, Office of the General Counsel, United States Securities and
Exchange Commission from 1993 to 1998. His address is One South Street,
Baltimore, Maryland 21202.
CHARLES A. RIZZO (birth date: August 5, 1957) Treasurer of the Trust; Director,
Deutsche Asset Management, and Vice President and Department Head, DB Alex.
Brown LLC from 1998 to 1999; Formerly, Senior Manager, PricewaterhouseCoopers
LLP from 1993 to 1998. His address is One South Street, Baltimore, MD 21202.
Messrs. Hirsch and Rizzo also hold similar positions for other investment
companies for which ICCD, or an affiliate serves as the principal underwriter.
No person who is an officer or Trustee of Bankers Trust is an officer or Trustee
of the Trust. No Trustee, officer or employee of ICCD or any of its affiliates
will receive any compensation from the Trust for serving as an officer or
Trustee of the Trust.
The following supplements the applicable sections relating to the Investment
Adviser in the Fund's Confidential Statement of Additional Information:
On June 4, 1999, Bankers Trust Corporation merged with a subsidiary of Deutsche
Bank AG ("Deutsche Bank"). Deutsche Bank is a major global banking institution
that is engaged in a wide range of financial services, including investment
management, mutual funds, retail and commercial banking, investment banking and
insurance. A Special Meeting of Shareholders ("Special Meeting") was held for
this purpose.
Shareholders voted at the Special Meeting to approve a new investment advisory
agreement (the "Advisory Agreement") with Bankers Trust. Approval of the
Advisory Agreement was sought because Deutsche Bank became Bankers Trust's
parent company and, therefore, controls its operations as investment adviser.
At the Special Meeting, shareholders of the Fund also approved a new investment
advisory agreement with Deutsche Asset Management, Inc. ("DeAM, Inc.") (formerly
Morgan Grenfell, Inc.). The new investment advisory agreement with DeAM, Inc.
may be implemented within two years of the date of the Special Meeting upon
approval of a majority of the members of the Board of Trustees who are not
"interested persons" ("Independent Trustees"). Shareholders of the Fund also
approved a new sub-investment advisory agreement among the Fund, DeAM, Inc. and
Bankers Trust under which Bankers Trust may perform certain of DeAM, Inc.'s
responsibilities, at DeAM, Inc.'s expense, upon approval of the Independent
Trustees, within two years of the date of the Special Meeting.
3
<PAGE>
The new investment advisory agreement with DeAM, Inc. and the new sub-investment
advisory agreement with Bankers Trust will permit Deutsche Bank to simplify the
organizational structure of its U.S. mutual fund operations, enhance the
efficiency of their administration and promote consistency of internal controls,
compliance and regulatory oversight. The deferral in implementing the new
investment advisory and sub-investment advisory agreements is needed to permit
Deutsche Bank a sufficient amount of time to plan, prepare and institute the
necessary arrangements for DeAM, Inc. to consolidate Deutsche Bank's U.S. mutual
fund operations.
Under the new investment advisory agreements and new sub-investment advisory
agreements, the compensation paid and the services provided would be the same as
those under the Advisory Agreement with Bankers Trust.
About Bankers Trust. Bankers Trust is an indirect wholly owned subsidiary of
Deutsche Bank. Deutsche Bank is a banking company with limited liability
organized under the laws of the Federal Republic of Germany. Deutsche Bank is
the parent company of a group consisting of banks, capital markets companies,
fund management companies, mortgage banks, a property finance company,
installment financing and leasing companies, insurance companies, research and
consultancy companies and other domestic and foreign companies.
About DeAM, Inc. DeAM, Inc. is a subsidiary of Deutsche Asset Management Group
Limited, a wholly owned subsidiary of Deutsche Morgan Grenfell Group PLC, an
investment holding company which is, in turn, a wholly owned subsidiary of
Deutsche Bank.
The following replaces the "Custodian and Transfer Agent" section in the Fund's
Confidential Statement of Additional Information:
Bankers Trust, 130 Liberty Street, New York, New York 10006, serves as Custodian
for the Trust pursuant to an administration and services agreement. As
Custodian, it holds the Fund's assets. Bankers Trust will comply with the self-
custodian provisions of Rule 17f-2 under the 1940 Act.
Investment Company Capital Corp. ("ICCC"), One South Street, Baltimore,
Maryland, 21202, serves as transfer agent of the Trust pursuant to a transfer
agency agreement. Under its transfer agency agreement with the Trust, ICCC
maintains the shareholder account records for the Fund, handles certain
communications between shareholders and the Trust and causes to be distributed
any dividends and distributions payable by the Trust. ICCC may be reimbursed by
the Fund for its out-of-pocket expenses.
Please Retain This Supplement for Future Reference
SUPP1721 (10/00)
CUSIP: 055924781
BT Institutional Funds
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Deutsche Asset Management
Treasury Assets Institutional
Supplement dated October 1, 2000 to the Fund's Confidential Statement of
Additional Information dated April 30, 2000:
The following replaces the "Management of the Trust -- Officers of the Trust"
section in the Fund's Confidential Statement of Additional Information:
Officers of the Trust
RICHARD T. HALE (birth date: July 17, 1945) -- President and Chief Executive
Officer of the Trust; Trustee of each of the other investment companies in the
Deutsche Asset Management Fund Complex; Managing Director, Deutsche Asset
Management; Director, Flag Investors Funds and ISI Family of Funds (registered
investment companies); President, Morgan Grenfell Investment Trust (registered
investment company); Managing Director, DB Alex. Brown LLC; Director and
President, Investment Company Capital Corp. (registered investment adviser);
Chartered Financial Analyst. His address is One South Street, Baltimore,
Maryland 21202.
DANIEL O. HIRSCH (birth date: March 27, 1954) -- Secretary of the Trust;
Director, Deutsche Asset Management Americas since 1999; Director, DB Alex.
Brown LLC and Investment Company Capital Corp. since July 1998; Assistant
General Counsel, Office of the General Counsel, United States Securities and
Exchange Commission from 1993 to 1998. His address is One South Street,
Baltimore, Maryland 21202.
CHARLES A. RIZZO (birth date: August 5, 1957) Treasurer of the Trust; Director,
Deutsche Asset Management, and Vice President and Department Head, DB Alex.
Brown LLC from 1998 to 1999; Formerly, Senior Manager, PricewaterhouseCoopers
LLP from 1993 to 1998. His address is One South Street, Baltimore, MD 21202.
Messrs. Hirsch and Rizzo also hold similar positions for other investment
companies for which ICCD, or an affiliate serves as the principal underwriter.
No person who is an officer or Trustee of Bankers Trust is an officer or Trustee
of the Trust. No Trustee, officer or employee of ICCD or any of its affiliates
will receive any compensation from the Trust for serving as an officer or
Trustee of the Trust.
A Member of the
Deutsche Bank Group [/]
<PAGE>
The following replaces the "Custodian and Transfer Agent" section in the Fund's
Confidential Statement of Additional Information:
Bankers Trust, 130 Liberty Street, New York, New York 10006, serves as Custodian
for the Trust pursuant to an administration and services agreement. As
Custodian, it holds the Fund's assets. Bankers Trust will comply with the self-
custodian provisions of Rule 17f-2 under the 1940 Act.
Investment Company Capital Corp. ("ICCC"), One South Street, Baltimore,
Maryland, 21202, serves as transfer agent of the Trust pursuant to a transfer
agency agreement. Under its transfer agency agreement with the Trust, ICCC
maintains the shareholder account records for the Fund, handles certain
communications between shareholders and the Trust and causes to be distributed
any dividends and distributions payable by the Trust. ICCC may be reimbursed by
the Fund for its out-of-pocket expenses.
Please Retain This Supplement for Future Reference
SUPP1664 (10/00)
CUSIP: 055924815
BT Institutional Funds
