Scudder Capital Growth Fund
Supplement to Prospectus
dated February 1, 1995
The following text replaces the section entitled A team approach to investing
under "Shareholder benefits" on page 16.
Scudder Capital Growth Fund is managed by a team of Scudder investment
professionals who each play an important role in the Fund's management process.
Team members work together to develop investment strategies and select
securities for the Fund's portfolio. They are supported by Scudder's large staff
of economists, research analysts, traders and other investment specialists who
work in Scudder's offices across the United States and abroad. Scudder believes
its team approach benefits Fund investors by bringing together many disciplines
and leveraging Scudder's extensive resources.
Lead Portfolio Manager Kathleen T. Millard assumed responsibility for the Fund's
day-to-day management in 1995. Ms. Millard, who joined Scudder in 1991, has been
involved in the investment industry since 1983 and has worked as a portfolio
manager since 1986. Lois R. Friedman, Portfolio Manager, joined the Fund in 1995
and Scudder in 1994 and has eight years of experience as an equity analyst.
September 12, 1995
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September 12, 1995
Dear Scudder Investor,
As the prospectus supplement on the reverse side explains, Scudder Capital
Growth Fund welcomes Lois R. Friedman to the Fund's portfolio management team.
Ms. Friedman joins Lead Portfolio Manager Kathleen T. Millard.
Please contact a Scudder Investor Relations representative at
1-800-225-2470 between 8 a.m. and 8 p.m., eastern time, Monday through Friday,
should you have any questions about this or any other Scudder fund.
Sincerely,
/s/David S. Lee
David S. Lee
President, Scudder Investor Services, Inc.
This letter is for explanatory purposes and is not part of the prospectus
supplement on the reverse side.
(over, please)
