[Image] Scudder Growth and Income Fund 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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Fund Profile
July 1, 1997
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1. What Are The Fund's Objectives?
Scudder Growth and Income Fund seeks long-term growth of capital,
current income and growth of income.
2. What Does The Fund Invest In?
The Fund invests primarily in common stocks, preferred stocks and
securities convertible into common stocks of companies which offer the
prospect for growth of earnings while paying current dividends. Over
time, continued growth of earnings tends to lead to higher dividends
and enhancement of capital value. The Fund generally emphasizes
investments in U.S. companies, although it may invest in foreign
securities that meet the same criteria as the Fund's domestic
holdings.
3. What Are The Risks Of Investing In The Fund?
Movements of the stock market will affect the Fund's share price,
which is likely to vary from day to day. The value of your investment
may decline as a result of declines in the overall stock market or in
the types of securities held in the Fund. In rising markets, the types
of stocks emphasized in the Fund may underperform other sectors of the
stock market. You incur principal risk when you invest because your
shares, when sold, may be worth more or less than what you paid for
them.
4. For Whom Is This Fund Appropriate?
You may wish to consider this Fund if you are seeking long-term growth
of capital combined with the potential for current income and:
o plan to hold your investment for several years,
o can tolerate fluctuations in share price,
o have or plan to have other investments for the benefit of
diversification, and
o understand the risks of stock market investing.
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 Growth and Income Fund, 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 December 31,
1996.
Investment management fee 0.49%
12b-1 fees None
Other expenses 0.29%
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Total Fund operating expenses 0.78%
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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 $25 $43 $97
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 ten years,
assuming reinvestment of all distributions. Performance is historical
and may not be indicative of future results. Total return and
principal value will fluctuate.
THE ORIGINAL DOCUMENT CONTAINS A BAR CHART HERE.
BAR CHART TITLE: Total returns for years ended December 31:
BAR CHART DATA: 1987 3.50%
1988 12.01
1989 26.36
1990 -2.33
1991 28.16
1992 9.57
1993 15.59
1994 2.60
1995 31.18
1996 22.18
The Fund's Average Annual Total Return
for the period ended June 30, 1997
One Year 33.22%
Five Years 19.25%
Ten Years 14.46%
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, Robert T. Hoffman leads a team of investment
professionals responsible for the management of the Fund and other
portfolios managed in a similar fashion. Mr. Hoffman has had
responsibility for setting the Fund's stock investing strategy and
overseeing the Fund's day-to-day operations since 1991. Mr. Hoffman,
who joined Scudder in 1990 as a portfolio manager, has 13 years of
experience in the investment industry, including several years of
pension fund management experience.
Lori Ensinger, Portfolio Manager joined the portfolio management team
in 1993, and the Fund in 1996. Ms. Ensinger focuses on stock selection
and investment strategy. She has worked as a portfolio manager since
1983, and joined Scudder in 1993.
Deborah Chaplin, Portfolio Manager, has focused on stock selection and
investment strategy since joining the portfolio management team in
1997. Ms. Chaplin, who joined Scudder in 1996 has over four years of
investment experience as a securities analyst and portfolio manager.
Prior to joining Scudder, Ms. Chaplin was a research fellow in the
Faculty of Letters at Kyoto University, Japan.
Benjamin W. Thorndike, Portfolio Manager, is the Fund's chief analyst
and strategist for convertible securities. Mr Thorndike, who has 18
years of investment experience, joined Scudder in 1983 as a portfolio
manager, and the Fund in 1986.
Kathleen T. Millard, Portfolio Manager, has been involved in the
investment industry since 1983 and has worked as a portfolio manager
since 1986. Ms. Millard, who joined the portfolio management team and
Scudder in 1991, focuses on strategy and stock selection.
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 an
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 telephone, fax, or mail.
10. When Are Distributions Made?
The Fund typically makes any dividend distributions in April, July,
October, and December. Capital gain distributions, if any, will be
made in November or December. 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. Long-term capital gains
distributions, if any, are taxable as long-term capital gains
regardless of the length of time shareholders have owned shares.
Short-term capital gains and any other taxable income distributions
are taxable as ordinary income. A portion of dividends from ordinary
income may 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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