SCUDDER [logo]
Scudder S&P 500 Index Fund
Supplement to Prospectus
Dated August 29, 1997
The following information is to be inserted after the section entitled "Expense
information" on page 2.
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The following table includes selected data for a share outstanding (a)
throughout the period and other performance information derived from the audited
financial statements.
If you would like more detailed information concerning the Fund's performance, a
complete portfolio listing and audited financial statements are available in the
Fund's Annual Report dated December 31, 1997 and may be obtained without charge
by writing or calling Scudder Investor Services, Inc.
For the Period
August 29, 1997
(commencement
of operations) to
December 31, 1997
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Net asset value, beginning of period $12.00
Income from investment operations:
Net investment income .05
Net realized and unrealized gain (loss) on investment transactions .95
Total from investment operations $1.00
Less distributions from net investment income (.06)
Net asset value, end of period $12.94
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Total Return (%) (b) 8.34**
Ratios and Supplemental Data
Net assets, end of period ($ millions) 17
Ratio of operating expenses, net to average daily net assets (%) (c) .40*
Ratio of operating expenses before expense reductions, to average daily net 4.42*
assets (%) (c)
Ratio of net investment income to average daily net assets (%) 1.35*
(a) Based on monthly average shares outstanding during the period.
(b) Total return would have been lower had certain expenses not been reduced.
(c) Includes expenses of the Equity 500 Index Portfolio.
* Annualized
** Not annualized
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March 10, 1998
