MUNDER FUNDS INC
497, 1999-11-17
Previous: GOVERNMENT SECURITIES INC FD GNMA SER 2A DEFINED ASSET FUNDS, 485BPOS, 1999-11-17
Next: CORPORATE INCOME FD INSURED SERIES 21 DEFINED ASSET FDS, 485BPOS, 1999-11-17



<PAGE>


               THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS

                                The Munder Funds
                       Supplement Dated November 17, 1999
                      to Prospectus Dated October 26, 1999
                          Class A, B and II Shares of:

                       The Munder Future Technology Fund


                Initial Sales Charge Waiver For Class II Shares

     We will waive the initial sales charge on purchases of Class II shares of
the Munder Future Technology Fund through April 15, 2000.

                           Distribution Arrangements

     The "Distribution Arrangements--Applicable Sales Charge--Sales Charge
Waivers - General" section in the prospectus is hereby deleted in its entirety
and replaced with the following:

Sales Charge Waivers - General
We will waive the initial sales charge on Class A shares for the following types
of purchasers:

1.  individuals with an investment account or relationship with the advisor;

2.  full-time employees and retired employees of the advisor or its affiliates,
employees of the Fund's service providers and immediate family members of such
persons;

3.  registered broker-dealers that have entered into selling agreements with the
distributor, for their own accounts or for retirement plans for their employees
or sold to registered representatives for full-time employees (and their
families) that certify to the distributor at the time of purchase that such
purchase is for their own account (or for the benefit of their families);

4.  certain qualified employee benefit plans as described below;

5.  individuals who reinvest a distribution from a qualified retirement plan for
which the advisor serves as investment advisor;

6.  individuals who reinvest the proceeds of redemptions from Class Y Shares of
another Munder Fund within 60 days of redemption;

7.  banks and other financial institutions that have entered into agreements
with the Munder Funds to provide shareholder services for customers (including
customers of such banks and other financial institutions, and the immediate
family members of such customers);

8.  fee-based financial planners or employee benefit plan consultants acting for
the accounts of their clients;

9.  employer sponsored retirement plans which are administered by Universal
Pensions, Inc. (UPI Plans); and

10.  employer sponsored 401(k) plans that are administered by Merrill Lynch
Group Employee Services (Merrill Lynch Plans) which meet the criteria described
below under "Sales Charge Waivers-Qualified Employer Sponsored Retirement
Plans."


<PAGE>

                               The Munder Funds
                      Supplement Dated November 17, 1999
                     to Prospectus Dated October 26, 1999
                           Class A and B Shares of:

    Munder All-Season Conservative Fund, Munder All-Season Moderate Fund and
                       Munder All-Season Aggressive Fund


                               Fees And Expenses

The section entitled "Fees and Expenses-Annual Fund Operating Expenses" in the
prospectus is hereby deleted and replaced with the following:

Annual Fund Operating Expenses (expenses that are paid from Fund assets)
as a % of net assets

<TABLE>
<CAPTION>
Conservative Fund
                                                             Class A Shares                  Class B Shares
                                                             --------------                  --------------
<S>                                                          <C>                             <C>
Management Fees(1)                                                .35%                             .35%
Distribution and/or Service (12b-1) Fees                          .30%                            1.00%
Other Expenses(1)                                                5.61%                            5.61%
                                                                 ----                             ----
Total Annual Fund Operating Expenses(1)                          6.26%                            6.96%
                                                                 ====                             ====
</TABLE>

<TABLE>
<CAPTION>
Moderate Fund
                                                             Class A Shares                  Class B Shares
                                                             --------------                  --------------
<S>                                                          <C>                             <C>
Management Fees(1)                                                .35%                             .35%
Distribution and/or Service (12b-1) Fees                          .30%                            1.00%
Other Expenses(1)                                                1.89%                            1.89%
                                                                 ----                             ----
Total Annual Fund Operating Expenses(1)                          2.54%                            3.24%
                                                                 ====                             ====
</TABLE>

<TABLE>
<CAPTION>
Aggressive Fund
                                                             Class A Shares                  Class B Shares
                                                             --------------                  --------------
<S>                                                          <C>                             <C>
Management Fees(1)                                                .35%                             .35%
Distribution and/or Service (12b-1) Fees                          .30%                            1.00%
Other Expenses(1)                                                 .31%                             .31%
                                                                  ---                             ----
Total Annual Fund Operating Expenses(1)                           .96%                            1.66%
                                                                  ===                             ====
</TABLE>

___________
(a) The sales charge declines as the amount invested increases.

(b) A contingent deferred sales charge (CDSC) is a one-time fee charged at the
time of redemption.  A 1% CDSC applies to redemptions of Class A shares within
one year of investment that were purchased with no initial sales charge as part
of an investment of $1,000,000 or more.

(c) The CDSC payable upon redemption of Class B shares declines over time.
(1)  For the fiscal year ended June 30, 1999, the advisor voluntarily waived a
     portion of its management fees and voluntarily reimbursed
     certain operating expenses for the Conservative Fund and Moderate Fund. As
     a result of these voluntary fee waivers and expense reimbursements, the
     actual management fees, operating expenses and total annual fund operating
     expenses paid by the Conservative Fund and Moderate Fund were: .10%, .31%
     and .71%, respectively, for Class A shares and .10%, .31% and 1.41%,
     respectively, for Class B shares of the Conservative Fund; and .10%, .31%
     and .71%, respectively, for Class A shares and .10%, .31% and 1.41%,
     respectively, for Class B shares of the Moderate Fund. The expenses for the
     Aggressive Fund have been restated for the current fiscal year to reflect
     an increase in general operating expenses. As a result of the voluntary fee
     waivers, the actual management fees and total annual fund operating
     expenses would be .10% and .71%, respectively, for Class A shares and .10%
     and 1.41%, respectively, for Class B shares of the Aggressive Fund. The
     advisor may terminate the fee waivers and/or expense reimbursements at any
     time.


In addition to the expenses shown above, shareholders of the Funds will
indirectly bear their pro rata shares of the annual operating expenses of the
underlying funds.  As a result, the investment returns of the Funds will be net
of the expenses of the Underlying Funds.  Since the Funds invest in other Munder
Funds, as a shareholder you will pay a higher expense ratio than if you had
purchased shares of an underlying fund directly.  The underlying funds' total
annual fund operating expense ratios for the fiscal year ended June 30, 1999
ranged form .37% to 2.45%.

<PAGE>
The section entitled "Fees and Expenses - Example" for the Aggressive Fund in
the prospectus is hereby deleted and replaced with the following:

Aggressive Fund
<TABLE>
<CAPTION>
                      Class A      Class B     Class B
                      Shares       Shares*     Shares**
                      -------      -------     --------
<S>                   <C>          <C>         <C>
 1 Year...........    $   643      $   686     $  169
 3 Years..........    $   840      $   856     $  525
 5 Years..........    $ 1,054      $ 1,141     $  905
10 Years..........    $ 1,668      $ 1,613***  $1,613***
</TABLE>
- ----------------
*   Assumes you sold your shares at the end of the time period.
**  Assumes you stayed in the Fund.
*** Reflects conversion of Class B shares to Class A shares (which pay lower
    ongoing expenses) approximately six years after the date of original
    purchase.
                                  Performance

The first footnote to the average annual total returns table in the section
entitled "Risk Return Summary--Performance" for the Moderate Fund is hereby
deleted and replaced with the following: *The inception date for the Class A
shares is 4/4/97.

   Change Of Investment Objective For Small-Cap Value Fund And Value Fund

     The Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Munder Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective to long-term capital
appreciation.  The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Value Fund from long-term capital
appreciation, with its secondary goal to provide income to long-term capital
appreciation.  Accordingly, the section entitled "More About the Funds-
Description of Underlying Funds" for the Munder Small-Cap Value Fund and Value
Fund in the prospectus are hereby deleted and replaced with the following:

     Small-Cap Value Fund

     The Fund's goal is to provide long-term capital appreciation.  The Fund
     pursues its goal by investing at least 65% of its assets in equity
     securities of small capitalization companies having market capitalizations
     within the range of the companies in the Russell 2000 Index.  The advisor
     will concentrate on companies that it believes are undervalued.

     Value Fund

     The Fund's primary goal is to provide long-term capital appreciation.  The
     Fund pursues its goals by investing primarily in the equity securities of
     well-established companies with intermediate to large capitalizations,
     which typically exceed $750 million.  The Fund will invest at least 65% of
     its assets in equity securities.  The advisor will focus on companies that
     it believes are undervalued.

           Change Of Investment Policy For Small Company Growth Fund

     The Board of Trustees of The Munder Funds Trust has changed the investment
policy of the Munder Small Company Growth Fund to increase the market
capitalization of the issuers considered to be small-cap companies.
Accordingly, the section entitled "More About the Funds-Description of
Underlying Funds" for the Munder Small Company Growth Fund in the prospectus is
hereby deleted and replaced with the following:

     Small Company Growth Fund

     The Fund's goal is to provide long-term capital appreciation.  The Fund
     pursues its goal by investing, under normal market conditions, at least 65%
     of its assets in equity securities of small capitalization companies with
     market capitalizations below $1.5 billion.

           Change In Performance Benchmark For Equity Selection Fund

     The Board of Directors of The Munder Funds, Inc. has approved the change in
performance benchmark for the Munder Equity Selection Fund.  Accordingly, the
section entitled "More About the Funds-Description of Underlying Funds" for the
Munder Equity Selection Fund in the prospectus is hereby deleted and replaced
with the following:

     Equity Selection Fund

     The Fund's goal is to provide long-term capital appreciation.  The Fund
     pursues its goal by investing at least 65% of its assets in equity
     securities which the advisor believes are undervalued compared to stocks of
     other companies in the same industry.  The Fund generally invests in
     companies with market capitalizations of at least $1 billion.  The Fund
     diversifies its assets by industry in approximately the same weightings as
     those of the Russell 1000 Growth Index.
<PAGE>

                                The Munder Funds
                       Supplement Dated November 17, 1999
                      to Prospectus Dated October 26, 1999
                               Class Y Shares of:

    Munder All-Season Conservative Fund, Munder All-Season Moderate Fund and
                       Munder All-Season Aggressive Fund

                                  Performance

The section entitled "Risk Return Summary-Performance" for the All-Season
Conservative Fund in the prospectus is hereby deleted and replaced with the
following:

The bar chart and table below give some indication of the risk of an investment
in the Fund. The bar chart shows the Fund's performance for each calendar year
since inception. The table shows how the Fund's average annual total returns
for different calendar periods over the life of the Fund compare to those of a
broad based securities market index.

When you consider this information, please remember the Fund's performance in
past years is not necessarily an indication of how the Fund will perform in the
future.


                                        Average Annual Total Return
                                        (for the periods ended December 31,
                                        1998)
                                        ------------------------------------
                                                                       Since
                                                                   Inception
                                                             1 Year  (4/3/97)
                                         ------------------------------------
                                         Class Y              2.36%    8.45%
                                         Lehman Brothers Int
                                         Gov't/Corp. Index*   8.44%    9.15%**
                                         -------
                                         *The Lehman Brothers Intermediate
                                         Government/Corporate Bond Index is a
                                         weighted composite of (i) Lehman
                                         Brothers Intermediate Government Bond
                                         Index, which is comprised of all
                                         publicly issued, non-convertible debt
                                         of the U.S. Government or any agency
                                         thereof, quasi-federal corporations
                                         and corporate debt guaranteed by the
                                         U.S. Government with a maturity
                                         between one and ten years and (ii)
                                         Lehman Brothers Corporate Bond Index,
                                         which is comprised of all public
All Season Conservative Fund Class Y     fixed-rate, non-convertible
                                         investment-grade domestic corporate
Total Return                             debt, excluding collaterized mortgage
(per calendar year)                      obligations.
1998 ______________ 2.36%                **Index return from 3/31/97.
- ------------
Year-to-date through September 30, 1999: (0.89)%

 Best Quarter:  Q1 1998   3.74%
 Worst Quarter: Q3 1998  (4.33%)


                               Fees And Expenses

The section entitled "Fees and Expenses-Annual Fund Operating Expenses" in the
prospectus is hereby deleted and replaced with the following:

Annual Fund Operating Expenses (expenses that are paid from Fund assets)
as a % of net assets
<TABLE>
<CAPTION>
                             Conservative Fund Moderate Fund Aggressive Fund
                             ----------------- ------------- ---------------
<S>                          <C>               <C>           <C>
Management Fees(1)                  .35%            .35%          .35%
Other Expenses(1)                  5.61%           1.89%          .31%
                                   -----           -----          ----
Total Annual Fund Operating
 Expenses(1)                       5.96%           2.24%          .66%
                                   =====           =====          ====
</TABLE>
- -------
(1) For the fiscal year ended June 30, 1999, the advisor voluntarily waived a
    portion of its management fees and voluntarily reimbursed certain operating
    expenses for the Conservative Fund and Moderate Fund. As a result of these
    voluntary fee waivers and expense reimbursements, the actual management
    fees, other expenses and total annual fund operating expenses paid by the
    Conservative Fund and Moderate Fund were .10%, .31% and .41%, respectively,
    for the Conservative Fund and .10%, .31% and .41% , respectively, for the
    Moderate Fund. The expenses for the Aggressive Fund have been restated for
    the current fiscal year to reflect
<PAGE>

  an increase in general operating expenses. As a result of the voluntary fee
  waiver, the actual management fee and total annual fund operating expenses
  would be .10% and .41%, respectively, for the Aggressive Fund. The advisor
  may terminate the fee waivers and/or expense reimbursements at any time.

In addition to the expenses shown above, shareholders of the Funds will
indirectly bear their pro rata shares of the annual operating expenses of the
underlying funds. As a result, the investment returns of the Funds will be net
of the expenses of the Underlying Funds. Since the Funds invest in other
Munder Funds, as a shareholder you will pay a higher expense ratio than if you
had purchased shares of an underlying fund directly. The underlying funds'
total annual fund operating expense ratios for the fiscal year ended June 30,
1999 ranged from .37% to 2.45%.

   The section entitled "Fees and Expenses--Example" for the Aggressive Fund
in the prospectus is hereby deleted and replace with the following:

<TABLE>
<CAPTION>
                                                Aggressive Fund
                                                ---------------
             <S>                                <C>
             1 Year............................      $ 68
             3 Years...........................      $212
             5 Years...........................      $369
             10 Years..........................      $826
</TABLE>

    Change Of Investment Objective For Small-Cap Value Fund And Value Fund

    The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective to long-term capital
appreciation. The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Value Fund from long- term capital
appreciation, with its secondary goal to provide income to long-term capital
appreciation. Accordingly, the section entitled "More About the Funds-
Description of Underlying Funds" for the Munder Small-Cap Value Fund and Value
Fund in the prospectus are hereby deleted and replaced with the following:

   Small-Cap Value Fund
   The Fund's goal is to provide long-term capital appreciation. The Fund
   pursues its goal by investing at least 65% of its assets in equity
   securities of small capitalization companies having market capitalizations
   within the range of the companies in the Russell 2000 Index. The advisor
   will concentrate on companies that it believes are undervalued.

   Value Fund
   The Fund's primary goal is to provide long-term capital appreciation. The
   Fund pursues its goals by investing primarily in the equity securities of
   well-established companies with intermediate to large capitalizations,
   which typically exceed $750 million. The Fund will invest at least 65% of
   its assets in equity securities. The advisor will focus on companies that
   it believes are undervalued.

           Change Of Investment Policy For Small Company Growth Fund

    The Board of Trustees of The Munder Funds Trust has changed the investment
policy of the Munder Small Company Growth Fund to increase the market
capitalization of the issuers considered to be small-cap companies.
Accordingly, the section entitled "More About the Funds-Description of
Underlying Funds" for the Munder Small Company Growth Fund in the prospectus
is hereby deleted and replaced with the following:

   Small Company Growth Fund
   The Fund's goal is to provide long-term capital appreciation. The Fund
   pursues its goal by investing, under normal market conditions, at least
   65% of its assets in equity securities of small capitalization companies
   with market capitalizations below $1.5 billion.

           Change In Performance Benchmark For Equity Selection Fund

    The Board of Directors of The Munder Funds, Inc. has approved the change
in performance benchmark for the Munder Equity Selection Fund. Accordingly,
the section entitled "More About the Funds-Description of Underlying Funds"
for the Munder Equity Selection Fund in the prospectus is hereby deleted and
replaced with the following:

   Equity Selection Fund
   The Fund's goal is to provide long-term capital appreciation. The Fund
   pursues its goal by investing at least 65% of its assets in equity
   securities which the advisor believes are undervalued compared to stocks
   of other companies in the same industry. The Fund generally invests in
   companies with market capitalizations of at least $1 billion. The Fund
   diversifies its assets by industry in approximately the same weightings as
   those of the Russell 1000 Growth Index.

<PAGE>

                               The Munder Funds
                      Supplement Dated November 17, 1999
                     to Prospectus Dated October 26, 1999
                          Class A, B and C Shares of:

     Munder Balanced Fund, Munder Equity Selection Fund, Munder Growth & Income
Fund, Munder Growth Opportunities Fund, Munder International Equity Fund, Munder
Micro-Cap Equity 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 Global Financial Services Fund, Munder Framlington Healthcare Fund
and Munder Framlington International Growth Fund

     Change Of Investment Objective For Small-Cap Value Fund And Value Fund

     The Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Munder Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective to long-term capital
appreciation. The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Value Fund from long-term capital
appreciation, with its secondary goal to provide income to long-term capital
appreciation.

           Change Of Investment Policy For Small Company Growth Fund

     The Board of Trustees of The Munder Funds Trust has changed the investment
policy of the Munder Small Company Growth Fund to increase the market
capitalization of the issuers considered to be small-cap companies. Accordingly,
the first paragraph of the section entitled "Risk Return Summary--Principal
Investment Strategies" of the Munder Small Company Growth Fund in the prospectus
is hereby deleted and replaced with the following:

     The Fund pursues its goal by investing, under normal market conditions, at
least 65% of its assets in equity securities of small capitalization companies
with market capitalizations below $1.5 billion, which is less than the market
capitalization of S&P 500 companies.

           Change In Performance Benchmark For Equity Selection Fund

     The Board of Directors of The Munder Funds, Inc. has approved the change in
performance benchmark for the Munder Equity Selection Fund. Accordingly, the
section entitled "Risk Return Summary--Principal Investment Strategies" of the
Munder Equity Selection Fund in the prospectus is hereby deleted and replaced
with the following:

     The Fund pursues its goal by investing at least 65% of its assets in equity
securities.

     The Fund invests in equity securities which the advisor believes are
undervalued compared to stocks of other companies in the same industry.

     The Fund generally invests in companies with market capitalizations of at
least $1 billion.

     The Fund diversifies its assets by industry in approximately the same
weightings as those of the Russell 1000 Growth Index.


<PAGE>

                               The Munder Funds
                      Supplement Dated November 17, 1999
                     to Prospectus Dated October 26, 1999
                              Class K Shares of:

Munder Balanced Fund, Munder Equity Selection Fund, Munder Growth & Income Fund,
 Munder Growth Opportunities Fund, Munder Index 500 Fund, Munder International
  Equity Fund, Munder Micro-Cap Equity 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 Global Financial Services 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 Tax-Free Bond Fund, Munder
 Tax-Free Bond Fund, Munder Tax-Free Short-Intermediate Bond Fund, Munder Cash
  Investment Fund, Munder Tax-Free Money Market Fund and Munder U.S. Treasury
                               Money Market Fund


     Change Of Investment Objective For Small-Cap Value Fund And Value Fund

     The Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Munder Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective to long-term capital
appreciation.  The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Value Fund from long-term capital
appreciation, with its secondary goal to provide income to long-term capital
appreciation.

           Change Of Investment Policy For Small Company Growth Fund

     The Board of Trustees of The Munder Funds Trust has changed the investment
policy of the Munder Small Company Growth Fund to increase the market
capitalization of the issuers considered to be small-cap companies. Accordingly,
the first paragraph of the section entitled "Risk Return Summary--Principal
Investment Strategies" of the Munder Small Company Growth Fund in the prospectus
is hereby deleted and replaced with the following:

     The Fund pursues its goal by investing, under normal market conditions, at
least 65% of its assets in equity securities of small capitalization companies
with market capitalizations below $1.5 billion, which is less than the market
capitalization of S&P 500 companies.


<PAGE>

                               The Munder Funds
                      Supplement Dated November 17, 1999
                     to Prospectus Dated October 26, 1999
                              Class Y Shares of:

Munder Balanced Fund, Munder Equity Selection Fund, Munder Growth & Income Fund,
    Munder Future Technology Fund, Munder Growth Opportunities Fund, Munder
  International Equity Fund, Munder Micro-Cap Equity Fund, Munder Multi-Season
  Growth Fund, Munder NetNet 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 Global
Financial Services 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 Tax-Free Bond Fund, Munder Tax-Free Bond Fund, Munder Tax-Free Short-
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

                             Availability Of Shares

     The Class Y Shares of all the Funds except the Munder Cash Investment Fund,
Munder Multi-Season Growth Fund and the Munder Money Market Fund are not
currently available for purchase in the State of Nebraska.  The Class Y Shares
of the Munder Future Technology Fund, Munder Framlington Global Financial
Services Fund, Munder Growth Opportunities Fund and Munder Short Term Treasury
Fund are not currently available for purchase in the State of New Hampshire.
The Class Y Shares of Munder Framlington Global Financial Services Fund, Munder
Growth Opportunities Fund and Munder Short Term Treasury Fund are not currently
available for purchase in the State of Montana.

     Change Of Investment Objective For Small-Cap Value Fund And Value Fund

     The Board of Directors of The Munder Funds, Inc. has changed the investment
objective of the Munder Small-Cap Value Fund from long-term capital
appreciation, with income as a secondary objective to long-term capital
appreciation. The Board of Directors of The Munder Funds, Inc. has changed the
investment objective of the Munder Value Fund from long-term capital
appreciation, with its secondary goal to provide income to long-term capital
appreciation.

           Change Of Investment Policy For Small Company Growth Fund

     The Board of Trustees of The Munder Funds Trust has changed the investment
policy of the Munder Small Company Growth Fund to increase the market
capitalization of the issuers considered to be small-cap companies. Accordingly,
the first paragraph of the section entitled "Risk Return Summary--Principal
Investment Strategies" of the Munder Small Company Growth Fund in the prospectus
is hereby deleted and replaced with the following:

     The Fund pursues its goal by investing, under normal market conditions, at
least 65% of its assets in equity securities of small capitalization companies
with market capitalizations below $1.5 billion, which is less than the market
capitalization of S&P 500 companies.

           Change In Performance Benchmark For Equity Selection Fund

     The Board of Directors of The Munder Funds, Inc. has approved the change in
performance benchmark for the Munder Equity Selection Fund. Accordingly, the
section entitled "Risk Return Summary--Principal Investment Strategies" of the
Munder Equity Selection Fund in the prospectus is hereby deleted and replaced
with the following:

     The Fund pursues its goal by investing at least 65% of its assets in equity
securities.

     The Fund invests in equity securities which the advisor believes are
undervalued compared to stocks of other companies in the same industry.

     The Fund generally invests in companies with market capitalizations of at
least $1 billion.

     The Fund diversifies its assets by industry in approximately the same
weightings as those of the Russell 1000 Growth Index.


<PAGE>

                               The Munder Funds
                      Supplement Dated November 17, 1999
                     to Prospectus Dated October 26, 1999
                              Class K Shares of:

                     The Munder Equity Selection Fund and
             The Munder Framlington Global Financial Services Fund


           Change In Performance Benchmark For Equity Selection Fund

     The Board of Directors of The Munder Funds, Inc. has approved the change in
performance benchmark for the Munder Equity Selection Fund. Accordingly, the
section entitled "Risk Return Summary--Principal Investment Strategies" of the
Munder Equity Selection Fund in the prospectus is hereby deleted and replaced
with the following:

     The Fund pursues its goal by investing at least 65% of its assets in equity
securities.

     The Fund invests in equity securities which the advisor believes are
undervalued compared to stocks of other companies in the same industry.

     The Fund generally invests in companies with market capitalizations of at
least $1 billion.

     The Fund diversifies its assets by industry in approximately the same
weightings as those of the Russell 1000 Growth Index.




© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission