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Deutsche Asset Management
Asset Management--Premier Class
Supplement dated January 4, 2001 to Prospectus dated June 30, 2000
As of January 2, 2001, the following replaces the "Annual Fees and Expenses"
table, "Expense Example" and footnotes in the "Annual Fund Operating Expenses"
section in the Fund's prospectus:
ANNUAL FEES AND EXPENSES
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Percentage of Average
Daily Net Assets/1/
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Management Fees 0.65%
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Distribution and Service (12b-1) Fees None
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Other Expenses 0.28%
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Total Fund Operating Expenses 0.93%
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Less: Fee Waivers or Expense Reimbursements (0.33%)
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Net Expenses 0.60%/2/
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EXPENSE EXAMPLE/3/
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/1/Information on the annual operating expenses reflects the expenses of both
the Fund and the master portfolio in which the Fund invests its assets, the
Asset Management Portfolio. (A further discussion of the relationship between
the Fund and the master portfolio appears in the "Organizational Structure"
section of this prospectus.)
/2/The investment adviser and administrator have contractually agreed, for a
16-month period from the Fund's fiscal year end of March 31, 2000, to waive
their fees and reimburse expenses so that total expenses will not exceed
0.60%. The investment adviser and administrator have also voluntarily agreed
to waive their fees and reimburse expenses so that total expenses will not
exceed 0.55%. We may terminate or adjust these voluntary waivers and
reimbursements at any time at our sole discretion without notice to
shareholders.
/3/For the first year, the expense example takes into account contractual fee
waivers and reimbursements.
Please Retain This Supplement for Future Reference
A Member of the
Deutsche Bank Group [/]
SUPP1682 (1/01)
BT Pyramid Funds
CUSIP:
055847404
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1 year 3 years 5 years 10 years
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$61 $263 $482 $1,113
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