[Image] Scudder Cash Investment Trust Profile [Image]
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The fund profile, a supplement to the full prospectus, is designed as
an easy-to-read summary of fund risks, fees, and objectives. You can
click on any question to link to the Fund's prospectus and get more
information on that topic. Or, if you wish, you can proceed directly
to the Fund's prospectus. Once you have read the prospectus and
considered your investment goals, you can proceed to a Scudder Funds
application.
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Scudder Cash Investment Trust
Fund Profile
November 1, 1996
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1. What Are The Fund's Objectives?
Scudder Cash Investment Trust is a diversified money market fund that
seeks to maintain stability of capital and, consistent therewith, to
maintain the liquidity of capital and provide current income. In
pursuit of its objectives the Fund seeks to maintain a $1.00 share
price.
2. What Does The Fund Invest In?
The Fund invests in U.S. dollar-denominated securities with remaining
maturities of 397 calendar days or less, except in the case of U.S.
Government securities which may have remaining maturities of 762
calendar days or less. The Fund's investments include obligations
issued or guaranteed by the U.S. Government, its agencies or
instrumentalities; bankers' acceptances; certificates of deposit; and
commercial paper. The dollar-weighted average maturity of the Fund's
portfolio will vary with money market conditions, but is always 90
days or less.
All securities in the Fund's portfolio must meet credit quality
standards pursuant to procedures established by the Trustees of the
Fund. Generally, the Fund may purchase only securities rated, or
issued by a company with comparable securities rated, within the two
highest rating categories of one or more of the following rating
agencies: Moody's Investors Service, Inc., Standard & Poor's and Fitch
Investors Service, Inc., or, if unrated, their equivalent in the
opinion of the Fund's investment adviser, Scudder, Stevens & Clark,
Inc.
3. What Are The Risks Of Investing In The Fund?
The Fund seeks to eliminate principal risk. Nonetheless, the Fund's
share price is not insured or guaranteed by the U.S. Government, and
there can be no assurance that the Fund will be able to maintain a
stable net asset value of $1.00 per share. The Fund's yield may vary
from day to day.
4. For Whom Is This Fund Appropriate?
You may wish to consider this Fund if you are seeking safety of
principal as well as current income. Its objectives make the Fund an
appropriate investment for a wide range of goals and for investors
with short- or long-term financial needs.
5. What Are The Fund's Expenses And Fees?
There are two kinds of expenses that a shareholder may incur, directly
or indirectly, by investing in a mutual fund. These types of expenses,
as they relate to Scudder Cash Investment Trust are:
Shareholder transaction expenses --
Expenses charged directly to your account for various transactions.
Sales Commission None
Commissions to Reinvest Dividends None
Redemption Fee None
Exchange Fee None
Annual Fund operating expenses --
Expenses paid by the Fund before it distributes its net investment
income, expressed as a percentage of the Fund's average daily net
assets. Figures below are for the fiscal year ended June 30, 1996.
Investment management fee 0.41%
12b-1 fees None
Other expenses 0.42%
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Total Fund operating expenses 0.83%
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Example:
Assuming a 5% annual return and redemption at the end of each
period, the total expenses relating to a $1,000 investment would be:
1 Year 3 Years 5 Years 10 Years
$8 $ 26 $46 $103
This example assumes reinvestment of all dividends and distributions
and that the total Fund operating expenses listed above remain the
same each year. This example should not be considered a representation
of past or future expenses or return. Actual Fund expenses and return
vary from year to year and may be higher or lower than those shown.
Please note that there is a $5 service fee if you request redemption
proceeds via wire.
6. How Has The Fund Performed Historically?
This chart shows how the Fund has performed over the past 10 years,
assuming reinvestment of all distributions. On September 30, 1996, the
Fund's seven-day yield was 4.60%. For the Fund's current yield, call
1-800-343-2890. Performance is historical and may not be indicative of
future results.
BAR CHART TITLE: Total returns for years ended December 31:
BAR CHART DATA: Below
1986 6.40%
1987 6.10
1988 7.18
1989 8.86
1990 7.84
1991 5.96
1992 3.51
1993 2.58
1994 3.70
1995 5.25
7. Who Manages The Fund?
The Fund's investment adviser is Scudder, Stevens & Clark, Inc., a
leading provider of U.S. and international investment management for
clients throughout the world. The Fund is managed by a team of Scudder
investment professionals who each play an important role in the Fund's
management process.
Lead Portfolio Manager David Wines assumed responsibility for the
Fund's day-to-day management in 1996. Mr. Wines focuses on overall
investment strategy and has eight years of investment industry
experience. Stephen L. Akers, Portfolio Manager, joined the Fund's
team in 1994 and has managed several fixed-income portfolios since
joining Scudder in 1984. Debra A. Hanson, Portfolio Manager, assists
with the development and execution of investment strategy and has been
with Scudder since 1983. K. Sue Cote, Portfolio Manager, joined
Scudder in 1983 and has 13 years experience working with short-term
fixed-income investments.
8. How Can I Invest?
To make it easy for you to open an account, you may invest by mail,
phone, fax, or in person. The current minimum initial investment is
$1,000 ($500 for IRA's). Effective January 1, 1997, the minimum
initial investment will be $2,500 ($1,000 for IRA's), except that
shareholders may open a regular account with a minimum of $1,000 if an
investment program of $100/month is established. After January 1,
1997, a shareholder who maintains an account balance of less than
$2,500 without establishing an investment program, may be assessed an
annual fee of $10.00, payable to the Fund. You may also exchange Fund
shares free of charge within the Scudder Family of Funds.
9. How Can I Redeem Shares?
You may redeem shares at the current share price on any business day
by check, telephone, fax, or mail.
10. When Are Distributions Made?
Dividends are declared daily and distributed monthly. The Fund may
take into account capital gains and losses (other than long-term
capital gains) in its daily dividend declaration. You may elect to
receive distributions in cash or have them reinvested in additional
shares of the Fund.
Generally, dividends from net investment income are taxable to
shareholders as ordinary income whether received in cash or additional
shares. Long-term capital gains distributions, if any, are taxable as
long-term capital gains regardless of the length of time shareholders
have owned their shares. Short-term capital gains and any other
taxable income distributions are taxable as ordinary income. It is not
expected that dividends will qualify for the dividends-received
deduction for corporations.
11. What Services Does Scudder Provide?
As a shareholder, you'll enjoy:
o professional service from representatives who can answer your
questions and execute your transactions
o automated toll-free touchtone access to account information,
share prices and yields, and to perform transactions
o Scudder's quarterly shareholder newsletter, Scudder Perspectives
o regular, informative reports about the performance of your Fund
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[Image]Scudder wants you to make informed investment decisions. This
Fund Profile contains key information about the Fund. If you would
like more information before you invest, please consult the Fund's
accompanying prospectus. For details about the Fund's holdings or
recent investment strategies, please review the Fund's most recent
annual or semiannual report. The reports are free and may be ordered
by calling 1-800-225-2470.
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