[Image] Scudder Cash Investment Trust Profile
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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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Fund Profile
February 1, 1998
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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. The Fund
seeks to achieve its objective by investing in money market
securities. The Fund also seeks to maintain a constant net asset value
of $1.00 per share.
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 Kemper Investments,
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.
Please note that there is a $5 service fee if you request redemption
proceeds via wire.
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, 1997.
Until October 31, 1998, Scudder has agreed to maintain the total
annualized expenses of the Fund at not more than 0.85% of average
daily net assets. The figures below have been restated to reflect
current fees. Actual annualized Fund expenses for the fiscal year
ended June 30, 1997 were: total annualized expenses 0.86%, including
0.41% for management fees.
Investment management fee (after waiver) 0.40%
12b-1 fees None
Other expenses 0.45%
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Total Fund operating expenses (after waiver) 0.85%
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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
$9 $27 $47 $105
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.
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 December 31, 1997, the
Fund's seven-day yield was 4.93%. For the Fund's current yield, call
1-800-343-2890. Performance is historical and is no guarantee of
future results.
THE ORIGINAL DOCUMENT CONTAINS A BAR CHART HERE.
BAR CHART TITLE: Total returns for years ended December 31:
BAR CHART DATA: 1988 7.18%
1989 8.86
1990 7.84
1991 5.96
1992 3.51
1993 2.58
1994 3.70
1995 5.25
1996 4.70
1997 4.85
The Fund's Average Annual Total Return
for the period ended December 31, 1997
One Year 4.85%
Five Years 4.21%
Ten Years 5.43%
7. Who Manages The Fund?
The Fund's investment adviser is Scudder Kemper Investments, Inc., one
of the nation's most experienced investment management firms. The Fund
is managed by a team of Scudder Kemper investment professionals who
each play an important role in the Fund's management process.
Lead Portfolio Manager Frank J. Rachwalski, Jr. assumed responsibility
for the Fund's day-to-day operations and overall investment strategy
in 1998. Mr. Rachwalski joined Zurich Kemper in 1973 and has more than
20 years of experience managing money market portfolios.
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 minimum initial investment is $2,500,
except that shareholders may open an account with at least $1,000 if
an automatic investment plan of $100/month is established. Scudder
retirement plans and certain other accounts have similar or lower
minimum share balance requirements. A shareholder who maintains a
nonfiduciary account balance of less than $2,500 without establishing
an automatic investment plan, will be assessed an annual fee of
$10.00, payable to the Fund. Retirement accounts and certain other
accounts will not be assessed the $10.00 charge. 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 Kemper 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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