SCUDDER
Scudder Balanced Fund
Supplement to Prospectus
dated May 1, 1995
As Revised June 7, 1995
The following text replaces the section entitled "Shareholder benefits--A team
approach to investing."
Scudder Balanced 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 Valerie F. Malter assumed responsibility for the Fund's
day-to-day management and investment strategies in September 1995. Ms. Malter,
who joined Scudder in 1995, has 10 years of experience as an analyst covering a
wide range of industries, and three years of portfolio management experience
focusing on the stocks of companies with medium- to large-sized market
capitalizations. Portfolio Manager Bruce F. Beaty, who has been a portfolio
manager at Scudder since joining the firm in 1991, specializes in the quality
growth discipline of investing. Prior to joining Scudder in 1991, Mr. Beaty
spent 11 years in the securities brokerage business. Michael K. Shields,
Portfolio Manager, joined the Fund and Scudder in 1992 and has 13 years of
experience in finance and banking. Portfolio Manager William M. Hutchinson heads
up the Fund's fixed-income investment strategy and security selection. Mr.
Hutchinson, who has been with the Fund since its introduction and Scudder since
1986, has over 20 years of investment experience.
September 1, 1995 PS102-2A-95
MIS62PS
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SCUDDER
September 1, 1995
Dear Scudder Investor,
As the prospectus supplement on the reverse side explains, Scudder Balanced
Fund welcomes Valerie F. Malter as lead portfolio manager. Ms. Malter most
recently served as portfolio manager for institutional clients, commingled
funds, and mutual funds, and also has 10 years of experience as an analyst. A
Certified Financial Analyst, Ms. Malter received her Bachelor's degree from
Boston University and a MBA from the Darden School at the University of
Virginia. Portfolio Managers Bruce F. Beaty, William M. Hutchinson and Michael
K. Shields remain an integral part of the Fund's management team.
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)
