<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED JUNE 2, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS A, B AND C SHARES OF:
MUNDER ACCELERATING GROWTH FUND, MUNDER BALANCED FUND, MUNDER GROWTH & INCOME
FUND, MUNDER INTERNATIONAL EQUITY FUND, MUNDER MICRO-CAP EQUITY FUND, MUNDER
MID-CAP GROWTH FUND, MUNDER MULTI-SEASON GROWTH FUND, MUNDER REAL ESTATE EQUITY
INVESTMENT FUND, MUNDER SMALL-CAP VALUE FUND, MUNDER SMALL COMPANY GROWTH FUND,
MUNDER VALUE FUND, MUNDER FRAMLINGTON EMERGING MARKETS FUND, MUNDER FRAMLINGTON
HEALTHCARE FUND AND MUNDER FRAMLINGTON INTERNATIONAL GROWTH FUND
ADDITION OF CO-MANAGER FOR
MUNDER REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is co-manager of the Real Estate Equity Investment Fund.
Mr. Crosby has co-managed the Fund since March 1998 and was the Fund's
primary analyst from 1996-1998. Mr. Crosby has been with the Advisor since
1993, and also serves as portfolio manager for separately managed
institutional accounts.
REORGANIZATION OF MUNDER ACCELERATING GROWTH FUND
The Board of Trustees of The Munder Funds Trust recently approved a
proposal for the reorganization of the Munder Accelerating Growth Fund (the
"Fund"). If the reorganization is approved by the shareholders of the Fund,
the Fund's assets will be acquired by the Munder Multi-Season Growth Fund,
shareholders of the Fund will become shareholders of the Munder Multi-Season
Growth Fund and the Fund will be terminated. A shareholder meeting to
consider the reorganization has been scheduled for the Fall of 1998, and if
approved the reorganization will be completed in the Fall of 1998.
CLOSING OF MUNDER MID-CAP GROWTH FUND AND
MUNDER ACCELERATING GROWTH FUND
Shares of the Mid-Cap Growth Fund are no longer available to new accounts but
additional investments may be made in existing accounts. Effective July 1,
1998, Shares of the Accelerating Growth Fund are no longer available to new
accounts but additional investments may be made in existing accounts.
SALES CHARGE WAIVERS
The "PURCHASES AND EXCHANGES OF SHARES--What Price Do I Pay For
Shares?--Sales Charge Waivers" section in the Prospectus is hereby
supplemented as follows:
Holders of Class A, Class B and Class C Shares of the Short Term Treasury
Fund as of June 2, 1998 may purchase Class A Shares of any of the above
referenced Funds at Net Asset Value if such Shares are being purchased with
proceeds from the redemption of shares of the Short Term Treasury Fund.
<PAGE>
CDSC WAIVERS
The "REDEMPTIONS OF SHARES--What Price Do I Receive For Redeemed Shares?
- --CDSC Waivers" section in the Prospectus is hereby supplemented as follows:
We will waive the CDSC payable upon redemption of shares for:
- Redemptions limited to 10% per year of an account's Net Asset Value.
For example, if you maintain an annual balance of $10,000 you can
redeem up to $1,000 annually free of charge.
REDUCTION OF MINIMUM REQUIRED INVESTMENT
The minimum initial investment for Class A, Class B and Class C Shares of a
Fund has been reduced to $250. Subsequent investments must be at least $50.
CHANGE IN METHOD OF PORTFOLIO MANAGEMENT FOR
MUNDER BALANCED FUND
The Balanced Fund is managed by a committee of professional portfolio
managers of the Advisor.
ADDITION OF CO-MANAGER FOR MUNDER SMALL-CAP VALUE FUND
AND MUNDER VALUE FUND
Brian Wall is co-manager of the Small-Cap Value and Value Funds. Mr. Wall
was formerly a primary analyst for the Funds. Prior to joining the Advisor
in 1995, he was a Senior Equity Analyst with Woodbridge Capital Management,
Inc. (1994-1995) and an Assistant Vice President in Equity Research for
Merrill Lynch, Pierce Fenner & Smith in New York (1992-1994).
PORTFOLIO MANAGEMENT OF
MUNDER SMALL COMPANY GROWTH FUND
Carl Wilk and Michael P. Gura jointly manage the Small Company Growth Fund.
Mr. Wilk, a Senior Portfolio Manager of the Advisor, has managed the Fund
since October 1996 and was the Fund's primary analyst (1995 to 1996). Prior
to joining the Advisor in 1995, Mr. Wilk was a Senior Equity Research Analyst
for the Fund at Woodbridge. Mr. Gura has managed the Fund since March 1997.
Prior to joining the Advisor in 1995, Mr. Gura was a Vice President and
Senior Equity Analyst for the Fund at Woodbridge (1994-1995) and an
investment officer for Manufacturer National Bank Trust Department
(1989-1994).
QUALIFIED EMPLOYER SPONSORED RETIREMENT PLANS
Effective January 1, 1998, the "PURCHASES AND EXCHANGES OF SHARES--What Price
Do I Pay For Shares?--Qualified Employer Sponsored Retirement Plans" section
in the Prospectus is hereby deleted in its entirety and supplemented as
follows:
<PAGE>
QUALIFIED EMPLOYER SPONSORED RETIREMENT PLANS
We will waive the initial sales charge on purchases of Class A Shares by
employer sponsored retirement plans that are qualified under Section 401(a)
or Section 403(b) of the Code (each, a "Qualified Employee Benefit Plan") and
that (1) invest $1,000,000 or more in Class A Shares of investment portfolios
offered by the Trust, the Company or Framlington or (2) have at least 75
eligible plan participants. In addition, we will waive the CDSC of 1%
charged on certain redemptions within one year of purchase for Qualified
Employee Benefit Plan purchases that meet the above criteria. A 1%
commission will be paid by the Distributor to dealers and other entities (as
permitted by applicable Federal and state law) who initiate and are
responsible for Qualified Employee Benefit Plan purchases that meet the above
criteria. For purposes of this sales charge waiver, Simplified Employee
Pension Plans ("SEPs"), Individual Retirement Accounts ("IRAs") and UPI Plans
are not considered to be Qualified Employee Benefit Plans.
We also will waive (i) the initial sales charge on Class A Shares on
purchases by UPI Plans for employees participating in an employer-sponsored
or administered retirement program operating under Section 408A of the Code
and (ii) the CDSC of 1% imposed on certain redemptions within one year of
purchase for these accounts. The Distributor will pay a 1% commission to
dealers and others (as permitted by applicable Federal and state law) who
initiate and are responsible for UPI Plan purchases.
We will waive the initial sales charge for all the investments by
Merrill Lynch Plans if (i) the Plan is recordkept on a daily valuation basis
by Merrill Lynch Group Employee Services ("Merrill Lynch") and, on the date
the plan sponsor ("the Plan Sponsor") signs the Merrill Lynch Recordkeeping
Service Agreement, the Plan has $3 million or more in assets invested in
broker/dealer funds not advised or managed by Merrill Lynch Asset Management,
L.P. ("MLAM") that are made available pursuant to a Services Agreement
between Merrill Lynch and the Funds' principal underwriter or distributor and
in funds advised or managed by MLAM (collectively, the "Applicable
Investments"); or (ii) the Plan is recordkept on a daily valuation basis by
an independent recordkeeper whose services are provided through a contract or
alliance arrangement with Merrill Lynch, and on the date the Plan Sponsor
signs the Merrill Lynch Recordkeeping Service Agreement, the Plan has $3
million or more in assets, excluding money market funds, invested in
Applicable Investments; or (iii) the Plan has 500 or more eligible employees,
as determined by the Merrill Lynch plan conversion manager, on the date the
Plan Sponsor signs the Merrill Lynch Recordkeeping Service Agreement.
ADMINISTRATION FEE
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Administrator" in the Prospectus is hereby deleted
in its entirety and supplemented as follows:
ADMINISTRATOR
State Street Bank and Trust Company ("State Street" or "Administrator")
is the Funds' administrator. State Street is located at 225 Franklin Street,
Boston, Massachusetts 02110. State Street generally assists the Company, the
Trust and Framlington in all aspects of its administration and operations
including the maintenance of financial records and fund accounting. As
compensation for its services for the Company, the Trust and Framlington,
State Street is entitled to receive fees, based on the
<PAGE>
aggregate daily net assets of the Funds and certain other investment
portfolios that are advised by the Advisor for which it provides services,
computed daily and payable monthly at the annual rate of 0.113% on the first
$2.8 billion of net assets, plus 0.103% on the next $2.2 billion of net
assets, plus 0.101% on the next $2.5 billion of net assets, plus 0.095% on
the next $2.5 billion of net assets, plus 0.080% on the next $2.5 billion of
net assets, plus 0.070% on all net assets in excess of $12.5 billion (with a
$75,000 minimum fee per annum in the aggregate for all portfolios with
respect to the Administrator). If the assets of the Framlington Funds do not
exceed $120 million, the ultimate rate charged the Framlington Funds will be
reduced by their pro-rata portion of the total fees if calculated at the
rates of 0.062% of the first $2.8 billion of net assets, plus 0.052% of the
next $2.2 billion of net assets, plus 0.050% of all net assets in excess of
$5 billion.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED JUNE 2, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS K SHARES OF:
MUNDER ACCELERATING GROWTH FUND, MUNDER BALANCED FUND, MUNDER GROWTH &
INCOME FUND, MUNDER INDEX 500 FUND, MUNDER INTERNATIONAL EQUITY FUND,
MUNDER MICRO-CAP EQUITY FUND, MUNDER MID-CAP GROWTH FUND, MUNDER
MULTI-SEASON GROWTH FUND, MUNDER REAL ESTATE EQUITY INVESTMENT FUND,
MUNDER SMALL-CAP VALUE FUND, MUNDER SMALL COMPANY GROWTH FUND, MUNDER
VALUE FUND, MUNDER FRAMLINGTON EMERGING MARKETS FUND, MUNDER FRAMLINGTON
HEALTHCARE FUND, MUNDER FRAMLINGTON INTERNATIONAL GROWTH FUND, MUNDER
BOND FUND, MUNDER INTERMEDIATE BOND FUND, MUNDER INTERNATIONAL BOND
FUND, MUNDER U.S. GOVERNMENT INCOME FUND, MUNDER MICHIGAN TRIPLE
TAX-FREE BOND FUND, MUNDER TAX-FREE BOND FUND, MUNDER TAX-FREE
INTERMEDIATE BOND FUND, MUNDER SHORT TERM TREASURY FUND, MUNDER CASH
INVESTMENT FUND, MUNDER TAX-FREE MONEY MARKET FUND AND MUNDER U.S.
TREASURY MONEY MARKET FUND
ADDITION OF CO-MANAGER FOR
MUNDER REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is co-manager of the Real Estate Equity Investment Fund.
Mr. Crosby has co-managed the Fund since March 1998 and was the Fund's
primary analyst from 1996-1998. Mr. Crosby has been with the Advisor since
1993, and also serves as portfolio manager for separately managed
institutional accounts.
REORGANIZATION OF MUNDER ACCELERATING GROWTH FUND
The Board of Trustees of The Munder Funds Trust recently approved a
proposal for the reorganization of the Munder Accelerating Growth Fund (the
"Fund"). If the reorganization is approved by the shareholders of the Fund,
the Fund's assets will be acquired by the Munder Multi-Season Growth Fund,
shareholders of the Fund will become shareholders of the Munder Multi-Season
Growth Fund and the Fund will be terminated. A shareholder meeting to
consider the reorganization has been scheduled for the Fall of 1998, and if
approved the reorganization will be completed in the Fall of 1998.
CLOSING OF MUNDER MID-CAP GROWTH FUND, MUNDER ACCELERATING GROWTH FUND AND
MUNDER SHORT TERM TREASURY FUND
Shares of the Mid-Cap Growth Fund are no longer available to new accounts but
additional investments may be made in existing accounts. Effective July 1,
1998, Shares of the Accelerating Growth Fund are no longer available to new
accounts but additional investments may be made in existing accounts. The
Class K Shares of the Short Term Treasury Fund are closed to all investments.
<PAGE>
CHANGE IN METHOD OF PORTFOLIO MANAGEMENT FOR
MUNDER BALANCED FUND
The Balanced Fund is managed by a committee of professional portfolio
managers of the Advisor.
ADDITION OF CO-MANAGER FOR MUNDER SMALL-CAP VALUE FUND
AND MUNDER VALUE FUND
Brian Wall is co-manager of the Small-Cap Value and Value Funds. Mr. Wall
was formerly a primary analyst for the Funds. Prior to joining the Advisor
in 1995, he was a Senior Equity Analyst with Woodbridge Capital Management,
Inc. (1994-1995) and an Assistant Vice President in Equity Research for
Merrill Lynch, Pierce Fenner & Smith in New York (1992-1994).
PORTFOLIO MANAGEMENT OF
MUNDER SMALL COMPANY GROWTH FUND
Carl Wilk and Michael P. Gura jointly manage the Small Company Growth Fund.
Mr. Wilk, a Senior Portfolio Manager of the Advisor, has managed the Fund
since October 1996 and was the Fund's primary analyst (1995 to 1996). Prior
to joining the Advisor in 1995, Mr. Wilk was a Senior Equity Research Analyst
for the Fund at Woodbridge. Mr. Gura has managed the Fund since March 1997.
Prior to joining the Advisor in 1995, Mr. Gura was a Vice President and
Senior Equity Analyst for the Fund at Woodbridge (1994-1995) and an
investment officer for Manufacturer National Bank Trust Department
(1989-1994).
ADMINISTRATION FEE
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Administrator" in the Prospectus is hereby deleted
in its entirety and supplemented as follows:
ADMINISTRATOR
State Street Bank and Trust Company ("State Street" or "Administrator")
is the Funds' administrator. State Street is located at 225 Franklin Street,
Boston, Massachusetts 02110. State Street generally assists the Company, the
Trust and Framlington in all aspects of its administration and operations
including the maintenance of financial records and fund accounting. As
compensation for its services for the Company, the Trust and Framlington,
State Street is entitled to receive fees, based on the aggregate daily net
assets of the Funds and certain other investment portfolios that are advised
by the Advisor for which it provides services, computed daily and payable
monthly at the annual rate of 0.113% on the first $2.8 billion of net assets,
plus 0.103% on the next $2.2 billion of net assets, plus 0.101% on the next
$2.5 billion of net assets, plus 0.095% on the next $2.5 billion of net
assets, plus 0.080% on the next $2.5 billion of net assets, plus 0.070% on
all net assets in excess of $12.5 billion (with a $75,000 minimum fee per
annum in the aggregate for all portfolios with respect to the Administrator).
If the assets of the Framlington Funds do not exceed $120 million, the
ultimate rate charged the Framlington Funds will be reduced by their pro-rata
portion of the total fees if calculated at the rates of 0.062% of the first
$2.8 billion of net assets, plus 0.052% of the next $2.2 billion of net
assets, plus 0.050% of all net assets in excess of $5 billion.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED JUNE 2, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS Y SHARES OF:
MUNDER ACCELERATING GROWTH FUND, MUNDER BALANCED FUND, MUNDER GROWTH &
INCOME FUND, MUNDER INTERNATIONAL EQUITY FUND, MUNDER MICRO-CAP EQUITY
FUND, MUNDER MID-CAP GROWTH FUND, MUNDER MULTI-SEASON GROWTH FUND,
MUNDER REAL ESTATE EQUITY INVESTMENT FUND, MUNDER SMALL-CAP VALUE FUND,
MUNDER SMALL COMPANY GROWTH FUND, MUNDER VALUE FUND, MUNDER FRAMLINGTON
EMERGING MARKETS FUND, MUNDER FRAMLINGTON HEALTHCARE FUND, MUNDER
FRAMLINGTON INTERNATIONAL GROWTH FUND, MUNDER BOND FUND, MUNDER
INTERMEDIATE BOND FUND, MUNDER INTERNATIONAL BOND FUND, MUNDER U.S.
GOVERNMENT INCOME FUND, MUNDER MICHIGAN TRIPLE TAX-FREE BOND FUND,
MUNDER TAX-FREE BOND FUND, MUNDER TAX-FREE INTERMEDIATE BOND FUND,
MUNDER SHORT TERM TREASURY FUND, MUNDER CASH INVESTMENT FUND, MUNDER
MONEY MARKET FUND, MUNDER TAX-FREE MONEY MARKET FUND AND MUNDER U.S.
TREASURY MONEY MARKET FUND
ADDITION OF CO-MANAGER FOR
MUNDER REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is co-manager of the Real Estate Equity Investment Fund.
Mr. Crosby has co-managed the Fund since March 1998 and was the Fund's
primary analyst from 1996-1998. Mr. Crosby has been with Munder Capital
Management since 1993, and also serves as portfolio manager for separately
managed institutional accounts.
REORGANIZATION OF MUNDER ACCELERATING GROWTH FUND
The Board of Trustees of The Munder Funds Trust recently approved a
proposal for the reorganization of the Munder Accelerating Growth Fund (the
"Fund"). If the reorganization is approved by the shareholders of the Fund,
the Fund's assets will be acquired by the Munder Multi-Season Growth Fund,
shareholders of the Fund will become shareholders of the Munder Multi-Season
Growth Fund and the Fund will be terminated. A shareholder meeting to
consider the reorganization has been scheduled for the Fall of 1998, and if
approved the reorganization will be completed in the Fall of 1998.
CLOSING OF MUNDER MID-CAP GROWTH FUND AND
MUNDER ACCELERATING GROWTH FUND
Shares of the Mid-Cap Growth Fund are no longer available to new accounts but
additional investments may be made in existing accounts. Effective July 1,
1998, Shares of the Accelerating Growth Fund are no longer available to new
accounts but additional investments may be made in existing accounts.
<PAGE>
CHANGE IN METHOD OF PORTFOLIO MANAGEMENT FOR
MUNDER BALANCED FUND
The Balanced Fund is managed by a committee of professional portfolio
managers of the Advisor.
ADDITION OF CO-MANAGER FOR MUNDER SMALL-CAP VALUE FUND
AND MUNDER VALUE FUND
Brian Wall is co-manager of the Small-Cap Value and Value Funds. Mr. Wall
was formerly a primary analyst for the Funds. Prior to joining the Advisor
in 1995, he was a Senior Equity Analyst with Woodbridge Capital Management,
Inc. (1994-1995) and an Assistant Vice President in Equity Research for
Merrill Lynch, Pierce Fenner & Smith in New York (1992-1994).
PORTFOLIO MANAGEMENT OF
MUNDER SMALL COMPANY GROWTH FUND
Carl Wilk and Michael P. Gura jointly manage the Small Company Growth Fund.
Mr. Wilk, a Senior Portfolio Manager of the Advisor, has managed the Fund
since October 1996 and was the Fund's primary analyst (1995 to 1996). Prior
to joining the Advisor in 1995, Mr. Wilk was a Senior Equity Research Analyst
for the Fund at Woodbridge. Mr. Gura has managed the Fund since March 1997.
Prior to joining the Advisor in 1995, Mr. Gura was a Vice President and
Senior Equity Analyst for the Fund at Woodbridge (1994-1995) and an
investment officer for Manufacturer National Bank Trust Department
(1989-1994).
ADMINISTRATION FEE
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS-- Who
Manages and Services the Funds?--Administrator" in the Prospectus is hereby
deleted in its entirety and supplemented as follows:
ADMINISTRATOR
State Street Bank and Trust Company ("State Street" or "Administrator")
is the Funds' administrator. State Street is located at 225 Franklin Street,
Boston, Massachusetts 02110. State Street generally assists the Company, the
Trust and Framlington in all aspects of its administration and operations
including the maintenance of financial records and fund accounting. As
compensation for its services for the Company, the Trust and Framlington,
State Street is entitled to receive fees, based on the aggregate daily net
assets of the Funds and certain other investment portfolios that are advised
by the Advisor for which it provides services, computed daily and payable
monthly at the annual rate of 0.113% on the first $2.8 billion of net assets,
plus 0.103% on the next $2.2 billion of net assets, plus 0.101% on the next
$2.5 billion of net assets, plus 0.095% on the next $2.5 billion of net
assets, plus 0.080% on the next $2.5 billion of net assets, plus 0.070% on
all net assets in excess of $12.5 billion (with a $75,000 minimum fee per
annum in the aggregate for all portfolios with respect to the Administrator).
If the assets of the Framlington Funds do not exceed $120 million, the
ultimate rate charged the Framlington Funds will be reduced by their pro-rata
portion of the total fees if calculated at the rates of 0.062% of the first
$2.8 billion of net assets, plus 0.052% of the next $2.2 billion of net
assets, plus 0.050% of all net assets in excess of $5 billion.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED JUNE 2, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS A AND B SHARES OF:
MUNDER ALL-SEASON CONSERVATIVE FUND, MUNDER ALL-SEASON MODERATE FUND AND
MUNDER ALL-SEASON AGGRESSIVE FUND
ADDITION OF CO-MANAGER FOR
MUNDER REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is co-manager of the Real Estate Equity Investment Fund.
Mr. Crosby has co-managed the Fund since March 1998 and was the Fund's
primary analyst from 1996-1998. Mr. Crosby has been with the Advisor since
1993, and also serves as portfolio manager for separately managed
institutional accounts.
SALES CHARGE WAIVERS
The "PURCHASES AND EXCHANGES OF SHARES--What Price Do I Pay for
Shares?--Sales Charge Waivers" section in the Prospectus is hereby
supplemented as follows:
Holders of Class A, Class B and Class C Shares of the Short Term Treasury
Fund as of June 2, 1998 may purchase Class A Shares of any of the above
referenced Funds at Net Asset Value if such Shares are being purchased with
proceeds from the redemption of shares of the Short Term Treasury Fund.
CDSC WAIVERS
The "REDEMPTIONS OF SHARES--What Price Do I Receive For Redeemed Shares?--CDSC
Waivers" section in the Prospectus is hereby supplemented as follows:
We will waive the CDSC payable upon redemption of shares for:
- Redemptions limited to 10% per year of an account's Net Asset Value.
For example, if you maintain an annual balance of $10,000 you can
redeem up to $1,000 annually free of charge.
REDUCTION OF MINIMUM REQUIRED INVESTMENT
The minimum initial investment for Class A and Class B Shares of a Fund has
been reduced to $250. Subsequent investments must be at least $50.
<PAGE>
ADDITION OF CO-MANAGER FOR MUNDER SMALL-CAP VALUE FUND
AND MUNDER VALUE FUND
Brian Wall is co-manager of the Small-Cap Value and Value Funds. Mr. Wall
was formerly a primary analyst for the Funds. Prior to joining the Advisor
in 1995, he was a Senior Equity Analyst with Woodbridge Capital Management,
Inc. (1994-1995) and an Assistant Vice President in Equity Research for
Merrill Lynch, Pierce Fenner & Smith in New York (1992-1994).
PORTFOLIO MANAGEMENT OF
MUNDER SMALL COMPANY GROWTH FUND
Carl Wilk and Michael P. Gura jointly manage the Small Company Growth Fund.
Mr. Wilk, a Senior Portfolio Manager of the Advisor, has managed the Fund
since October 1996 and was the Fund's primary analyst (1995 to 1996). Prior
to joining the Advisor in 1995, Mr. Wilk was a Senior Equity Research Analyst
for the Fund at Woodbridge. Mr. Gura has managed the Fund since March 1997.
Prior to joining the Advisor in 1995, Mr. Gura was a Vice President and
Senior Equity Analyst for the Fund at Woodbridge (1994-1995) and an
investment officer for Manufacturer National Bank Trust Department
(1989-1994).
QUALIFIED EMPLOYER SPONSORED RETIREMENT PLANS
Effective January 1, 1998, "PURCHASES AND EXCHANGES OF SHARES--What Price Do
I Pay For Shares?--Qualified Employer Sponsored Retirement Plans" section in
the Prospectus is hereby deleted in its entirety and supplemented as follows:
QUALIFIED EMPLOYER SPONSORED RETIREMENT PLANS
We will waive the initial sales charge on purchases of Class A Shares by
employer sponsored retirement plans that are qualified under Section 401(a)
or Section 403(b) of the Code (each, a "Qualified Employee Benefit Plan") and
that (1) invest $1,000,000 or more in Class A Shares or (2) have at least 75
eligible plan participants. In addition, we will waive the CDSC of 1%
charged on certain redemptions of Class A Shares within one year of purchase
for Qualified Employee Benefit Plan purchases that meet the above criteria.
A 1% commission will be paid by the Distributor to dealers and other entities
(as permitted by applicable Federal and state law) who initiate and are
responsible for Qualified Employee Benefit Plan purchases that meet the above
criteria. For purposes of this sales charge waiver, Simplified Employee
Pension Plans ("SEPs"), Individual Retirement Accounts ("IRAs") and UPI Plans
are not considered to be Qualified Employee Benefit Plans.
We also will waive (i) the initial sales charge on Class A Shares on
purchases by UPI Plans for employees participating in an employer-sponsored
or administered retirement program operating under Section 408A of the Code
and (ii) the CDSC of 1% imposed on certain redemptions within one year of
purchase for these accounts. The Distributor will pay a 1% commission to
dealers and others (as permitted by applicable Federal and state law) who
initiate and are responsible for UPI Plan purchases.
We will waive the initial sales charge for all the investments by
Merrill Lynch Plans if (i) the Plan is recordkept on a daily valuation basis
by Merrill Lynch Group Employee Services ("Merrill
<PAGE>
Lynch") and, on the date the plan sponsor ("the Plan Sponsor") signs the
Merrill Lynch Recordkeeping Service Agreement, the Plan has $3 million or
more in assets invested in broker/dealer funds not advised or managed by
Merrill Lynch Asset Management, L.P. ("MLAM") that are made available
pursuant to a Services Agreement between Merrill Lynch and the Funds'
principal underwriter or distributor and in funds advised or managed by MLAM
(collectively, the "Applicable Investments"); or (ii) the Plan is recordkept
on a daily valuation basis by an independent recordkeeper whose services are
provided through a contract or alliance arrangement with Merrill Lynch, and
on the date the Plan Sponsor signs the Merrill Lynch Recordkeeping Service
Agreement, the Plan has $3 million or more in assets, excluding money market
funds, invested in Applicable Investments; or (iii) the Plan has 500 or more
eligible employees, as determined by the Merrill Lynch plan conversion
manager, on the date the Plan Sponsor signs the Merrill Lynch Recordkeeping
Service Agreement.
ADMINISTRATION FEE
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Administrator" in the Prospectus is hereby deleted
in its entirety and supplemented as follows:
ADMINISTRATOR
State Street Bank and Trust Company ("State Street" or "Administrator")
is the Funds' administrator. State Street is located at 225 Franklin Street,
Boston, Massachusetts 02110. State Street generally assists the Company, the
Trust and Framlington in all aspects of its administration and operations
including the maintenance of financial records and fund accounting. As
compensation for its services, State Street is entitled to receive a fee of
$27,000 for each Fund plus fees based on the aggregate daily net assets of
the Funds and certain other investment portfolios that are advised by the
Advisor for which it provides services, computed daily and payable monthly at
the annual rate of 0.062% on the first $2.8 billion of net assets, plus
0.052% on the next $2.2 billion of net assets, plus 0.050% on all net assets
in excess of $5 billion.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED JUNE 2, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS Y SHARES OF:
MUNDER ALL-SEASON CONSERVATIVE FUND, MUNDER ALL-SEASON MODERATE FUND AND
MUNDER ALL-SEASON AGGRESSIVE FUND
ADDITION OF CO-MANAGER FOR
MUNDER REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is co-manager of the Real Estate Equity Investment Fund.
Mr. Crosby has co-managed the Fund since March 1998 and was the Fund's
primary analyst from 1996-1998. Mr. Crosby has been with the Advisor since
1993, and also serves as portfolio manager for separately managed
institutional accounts.
ADDITION OF CO-MANAGER FOR MUNDER SMALL-CAP VALUE FUND
AND MUNDER VALUE FUND
Brian Wall is co-manager of the Small-Cap Value and Value Funds. Mr. Wall
was formerly a primary analyst for the Funds. Prior to joining the Advisor
in 1995, he was a Senior Equity Analyst with Woodbridge Capital Management,
Inc. (1994-1995) and an Assistant Vice President in Equity Research for
Merrill Lynch, Pierce Fenner & Smith in New York (1992-1994).
PORTFOLIO MANAGEMENT OF
MUNDER SMALL COMPANY GROWTH FUND
Carl Wilk and Michael P. Gura jointly manage the Small Company Growth Fund.
Mr. Wilk, a Senior Portfolio Manager of the Advisor, has managed the Fund
since October 1996 and was the Fund's primary analyst (1995 to 1996). Prior
to joining the Advisor in 1995, Mr. Wilk was a Senior Equity Research Analyst
for the Fund at Woodbridge. Mr. Gura has managed the Fund since March 1997.
Prior to joining the Advisor in 1995, Mr. Gura was a Vice President and
Senior Equity Analyst for the Fund at Woodbridge (1994-1995) and an
investment officer for Manufacturer National Bank Trust Department
(1989-1994).
ADMINISTRATION FEE
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Administrator" in the Prospectus is hereby deleted
in its entirety and supplemented as follows:
<PAGE>
ADMINISTRATOR
State Street Bank and Trust Company ("State Street" or "Administrator")
is the Funds' administrator. State Street is located at 225 Franklin Street,
Boston, Massachusetts 02110. State Street generally assists the Company, the
Trust and Framlington in all aspects of its administration and operations
including the maintenance of financial records and fund accounting. As
compensation for its services, State Street is entitled to receive a fee of
$27,000 for each Fund plus fees based on the aggregate daily net assets of
the Funds and certain other investment portfolios that are advised by the
Advisor for which it provides services, computed daily and payable monthly at
the annual rate of 0.062% on the first $2.8 billion of net assets, plus
0.052% on the next $2.2 billion of net assets, plus 0.050% on all net assets
in excess of $5 billion.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED JUNE 2, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS A, B AND C SHARES OF:
MUNDER CASH INVESTMENT FUND, MUNDER MONEY MARKET FUND,
MUNDER TAX-FREE MONEY MARKET FUND AND MUNDER U.S. TREASURY MONEY MARKET FUND
CDSC WAIVERS
The "REDEMPTIONS OF SHARES--What Price Do I Receive For Redeemed Shares?--CDSC
Waivers" section in the Prospectus is hereby supplemented as follows:
We will waive the CDSC payable upon redemption of shares for:
- Redemptions limited to 10% per year of an account's Net Asset Value.
For example, if you maintain an annual balance of $10,000 you can
redeem up to $1,000 annually free of charge.
REDUCTION OF MINIMUM REQUIRED INVESTMENT
The minimum initial investment for Class A Shares of a Trust Fund has been
reduced to $250. Subsequent investments must be at least $50.
ADMINISTRATION FEE
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Administrator" in the Prospectus is hereby deleted
in its entirety and supplemented as follows:
ADMINISTRATOR
State Street Bank and Trust Company ("State Street" or "Administrator")
is the Funds' administrator. State Street is located at 225 Franklin Street,
Boston, Massachusetts 02110. State Street generally assists the Company, the
Trust and Framlington in all aspects of its administration and operations
including the maintenance of financial records and fund accounting. As
compensation for its services, State Street is entitled to receive fees,
based on the aggregate daily net assets of the Funds and certain other
investment portfolios that are advised by the Advisor for which it provides
services, computed daily and payable monthly at the annual rate of 0.113% on
the first $2.8 billion of net assets, plus 0.103% on the next $2.2 billion of
net assets, plus 0.101% on the next $2.5 billion of net assets, plus 0.095%
on the next $2.5 billion of net assets, plus 0.080% on the next $2.5 billion
of net assets, plus 0.070% on all net assets in excess of $12.5 billion (with
a $75,000 minimum fee per annum in the aggregate for all portfolios with
respect to the Administrator).
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED JUNE 2, 1998
TO PROSPECTUS DATED OCTOBER 29, 1997
CLASS A, B AND C SHARES OF:
MUNDER BOND FUND, MUNDER INTERMEDIATE BOND FUND, MUNDER INTERNATIONAL
BOND FUND, MUNDER U.S. GOVERNMENT INCOME FUND, MUNDER MICHIGAN TRIPLE
TAX-FREE BOND FUND, MUNDER TAX-FREE BOND FUND, MUNDER TAX-FREE
INTERMEDIATE BOND FUND AND MUNDER SHORT TERM TREASURY FUND
CLOSING OF CLASSES A, B AND C OF MUNDER SHORT TERM TREASURY FUND
The Class A, Class B and Class C Shares of the Short Term Treasury Fund
are closed to all investments.
WAIVER OF SALES CHARGE OF MUNDER SHORT TERM TREASURY FUND
The contingent deferred sales charge imposed on redemptions for current
holders of Class B or Class C Shares of the Short Term Treasury Fund is
being waived. Current holders of Class A, Class B or Class C Shares of
the Short Term Treasury Fund may purchase Class A Shares of any Fund of
the Company, the Trust or Framlington at Net Asset Value if such shares
are being purchased with proceeds from the redemption of shares of the
Short Term Treasury Fund.
CDSC WAIVERS
The "REDEMPTIONS OF SHARES--What Price Do I Receive For Redeemed Shares?--CDSC
Waivers" section in the Prospectus is hereby supplemented as follows:
We will waive the CDSC payable upon redemption of shares for:
- Redemptions limited to 10% per year of an account's Net Asset Value.
For example, if you maintain an annual balance of $10,000 you can
redeem up to $1,000 annually free of charge.
REDUCTION OF MINIMUM REQUIRED INVESTMENT
The minimum initial investment for Class A, Class B and Class C Shares of a
Fund has been reduced to $250. Subsequent investments must be at least $50.
QUALIFIED EMPLOYER SPONSORED RETIREMENT PLANS
Effective January 1, 1998, "PURCHASES AND EXCHANGES OF SHARES--What Price Do
I Pay For Shares? --Qualified Employer Sponsored Retirement Plans" section in
the Prospectus is hereby deleted in its entirety and supplemented as follows:
<PAGE>
QUALIFIED EMPLOYER SPONSORED RETIREMENT PLANS
We will waive the initial sales charge on purchases of Class A Shares by
employer sponsored retirement plans that are qualified under Section 401(a)
or Section 403(b) of the Code (each, a "Qualified Employee Benefit Plan") and
that (1) invest $1,000,000 or more in Class A Shares of investment portfolios
offered by the Trust, the Company or Framlington or (2) have at least 75
eligible plan participants. In addition, we will waive the CDSC of 1%
charged on certain redemptions within one year of purchase for Qualified
Employee Benefit Plan purchases that meet the above criteria. A 1%
commission will be paid by the Distributor to dealers and other entities (as
permitted by applicable Federal and state law) who initiate and are
responsible for Qualified Employee Benefit Plan purchases that meet the above
criteria. For purposes of this sales charge waiver, Simplified Employee
Pension Plans ("SEPs"), Individual Retirement Accounts ("IRAs"), UPI Plans
and Merrill Lynch Plans are not considered to be Qualified Employee Benefit
Plans.
We also will waive (i) the initial sales charge on Class A Shares on
purchases by UPI Plans for employees participating in an employer-sponsored
or administered retirement program operating under Section 408A of the Code
and (ii) the CDSC of 1% imposed on certain redemptions within one year of
purchase for these accounts. The Distributor will pay a 1% commission to
dealers and others (as permitted by applicable Federal and state law) who
initiate and are responsible for UPI Plan purchases.
We will waive the initial sales charge for all the investments by
Merrill Lynch Plans if (i) the Plan is recordkept on a daily valuation basis
by Merrill Lynch Group Employee Services ("Merrill Lynch") and, on the date
the plan sponsor ("the Plan Sponsor") signs the Merrill Lynch Recordkeeping
Service Agreement, the Plan has $3 million or more in assets invested in
broker/dealer funds not advised or managed by Merrill Lynch Asset Management,
L.P. ("MLAM") that are made available pursuant to a Services Agreement
between Merrill Lynch and the Funds' principal underwriter or distributor and
in funds advised or managed by MLAM (collectively, the "Applicable
Investments"); or (ii) the Plan is recordkept on a daily valuation basis by
an independent recordkeeper whose services are provided through a contract or
alliance arrangement with Merrill Lynch, and on the date the Plan Sponsor
signs the Merrill Lynch Recordkeeping Service Agreement, the Plan has $3
million or more in assets, excluding money market funds, invested in
Applicable Investments; or (iii) the Plan has 500 or more eligible employees,
as determined by the Merrill Lynch plan conversion manager, on the date the
Plan Sponsor signs the Merrill Lynch Recordkeeping Service Agreement.
ADMINISTRATION FEE
The first paragraph under "STRUCTURE AND MANAGEMENT OF THE FUNDS--Who Manages
and Services the Funds?--Administrator" in the Prospectus is hereby deleted in
its entirety and supplemented as follows:
ADMINISTRATOR
State Street Bank and Trust Company ("State Street" or "Administrator")
is the Funds' administrator. State Street is located at 225 Franklin Street,
Boston, Massachusetts 02110. State Street generally assists the Company, the
Trust and Framlington in all aspects of its administration and operations
including the maintenance of financial records and fund accounting. As
compensation for its services, State Street is entitled to receive fees,
based on the aggregate daily net assets of the Funds and
<PAGE>
certain other investment portfolios that are advised by the Advisor for which
it provides services, computed daily and payable monthly at the annual rate
of 0.113% on the first $2.8 billion of net assets, plus 0.103% on the next
$2.2 billion of net assets, plus 0.101% on the next $2.5 billion of net
assets, plus 0.095% on the next $2.5 billion of net assets, plus 0.080% on
the next $2.5 billion of net assets, plus 0.070% on all net assets in excess
of $12.5 billion (with a $75,000 minimum fee per annum in the aggregate for
all portfolios with respect to the Administrator).
<PAGE>
THE MUNDER FUNDS
SUPPLEMENT DATED JUNE 2, 1998
TO PROSPECTUS DATED JUNE 1, 1998
CLASS A AND B SHARES OF:
THE NETNET FUND
SALES CHARGE WAIVERS
The "PURCHASES AND EXCHANGES OF SHARES--What Price Do I Pay For
Shares?--Sales Charge Waivers" section in the Prospectus is hereby
supplemented as follows:
Holders of Class A, Class B and Class C Shares of the Short Term Treasury
Fund as of June 2, 1998 may purchase Class A Shares of the above referenced
Fund at Net Asset Value is such Shares are being purchased with proceeds from
the redemption of shares of the Short Term Treasury Fund.
CDSC WAIVERS
The "REDEMPTIONS OF SHARES--What Price Do I Receive For Redeemed
Shares?--CDSC Waivers" section in the Prospectus is hereby supplemented as
follows:
We will waive the CDSC payable upon redemption of shares for:
- Redemptions limited to 10% per year of an account's Net Asset Value.
For example, if you maintain an annual balance of $10,000 you can
redeem up to $1,000 annually free of charge.
