SCUDDER [LOGO]
Scudder Growth and Income Fund
Supplement to Prospectus
Dated May 1, 1998
On January 13, 1998, the Fund's Board of Trustees approved a new Investment
Management Agreement, which reduced the management fee payable to the Adviser on
assets in excess of $6 billion. As of January 1, 1998, the complete fee schedule
is:
Annual Investment
Average daily net assets Management fee rate
- ------------------------- -------------------
First $500 million 0.60 of 1%
Exceeding $500 million 0.55 of 1%
Exceeding $1 billion 0.50 of 1%
Exceeding $1.5 billion 0.475 of 1%
Exceeding $2 billion 0.45 of 1%
Exceeding $3 billion 0.425 of 1%
Exceeding $4.5 billion 0.405 of 1%
Exceeding $6 billion 0.3875 of 1%
As of May 1, 1998, the Fund's net assets were approximately $8.3 billion.
June 1, 1998
