<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED MARCH 26, 1999
TO PROSPECTUS DATED OCTOBER 27, 1998
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 TAX-FREE BOND FUND, MUNDER
TAX-FREE BOND FUND
AND MUNDER TAX-FREE INTERMEDIATE BOND FUND
CHANGE OF NAME FOR TAX-FREE INTERMEDIATE BOND FUND
The name of the Tax-Free Intermediate Bond Fund has been changed to the Tax-Free
Short-Intermediate Bond Fund.
The section entitled "Goal and Principal Investments" for Tax-Free Intermediate
Bond Fund under the "FUND CHOICES--What Funds Are Offered?" section in the
Prospectus is deleted in its entirety and replaced with the following:
TAX-FREE SHORT-INTERMEDIATE BOND FUND
GOAL AND PRINCIPAL INVESTMENTS. The Fund's goal is to provide a
competitive level of current interest income exempt from regular Federal income
taxes and a total return which, over time, exceeds the rate of inflation and the
return provided by tax-free money market instruments.
- Under normal market conditions, at least 65% of the Fund's assets will
be invested in Municipal Obligations.
- Except during temporary defensive periods, at least 80% of the Fund's
net assets will be invested in Municipal Obligations whose interest is
exempt from regular Federal income tax.
- The Fund invests in Michigan Municipal Obligations from time to time.
- The Fund generally buys obligations with remaining maturities of five
years or less.
- The Fund's dollar-weighted average maturity will generally be between
two and five years.
CHANGE OF ADDRESS
Please send your Account Application, exchange order or redemption request by
mail to: THE MUNDER FUNDS, C/O FIRST DATA INVESTOR SERVICES GROUP, P.O. BOX
60428, KING OF PRUSSIA, PENNSYLVANIA 19406-0428.
The "EXAMPLE" section in the Prospectus is hereby deleted in its entirety and
replaced with the following:
EXAMPLE
This example shows the amount of expenses you would pay (directly or
indirectly) on a $1,000 investment in the Fund assuming (1) a 5% annual return,
(2) redemption at the end of the time period (including the deduction of the
deferred sales charge, if any) and (3) no redemption at the end of the time
period. THIS EXAMPLE IS NOT A REPRESENTATION OF PAST OR FUTURE PERFORMANCE OR
OPERATING EXPENSES; ACTUAL PERFORMANCE OR OPERATING EXPENSES MAY BE LARGER OR
SMALLER THAN THOSE SHOWN.
<TABLE>
<CAPTION>
INTERNATIONAL
BOND FUND INTERMEDIATE BOND FUND BOND FUND
--------------------------- --------------------------- ---------------------------
CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C
SHARES SHARES SHARES SHARES SHARES SHARES SHARES SHARES SHARES
------- ------- ------- ------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 YEAR
- - Redemption. . . . . $ 49 $ 69 $ 28 $ 49 $ 69 $ 27 $ 51 $ 71 $ 29
- - No Redemption . . . $ 49 $ 18 $ 18 $ 49 $ 17 $ 17 $ 51 $ 19 $ 19
3 YEARS
- - Redemption. . . . . $ 69 $ 87 $ 54 $ 69 $ 86 $ 53 $ 74 $ 92 $ 59
- - No Redemption . . . $ 69 $ 54 $ 54 $ 69 $ 53 $ 53 $ 74 $ 59 $ 59
5 YEARS
- - Redemption. . . . . $ 91 $117 $ 93 $ 90 $115 $ 91 $ 99 $124 $101
- - No Redemption . . . $ 91 $ 93 $ 93 $ 90 $ 91 $ 91 $ 99 $101 $101
10 YEARS*
- - Redemption. . . . . $154 $164 $203 $150 $161 $199 $170 $181 $219
- - No Redemption . . . $154 $164 $203 $150 $161 $199 $170 $181 $219
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
U.S. GOVERNMENT MICHIGAN TAX-FREE
INCOME FUND TAX-FREE BOND FUND BOND FUND
--------------------------- --------------------------- ---------------------------
CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C CLASS A CLASS B CLASS C
SHARES SHARES SHARES SHARES SHARES SHARES SHARES SHARES SHARES
------- ------- ------- ------- ------- ------- ------- ------- -------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
1 YEAR
- - Redemption. . . . . $ 49 $ 69 $ 28 $ 50 $ 69 $ 28 $ 49 $ 69 $ 27
- - No Redemption . . . $ 49 $ 18 $ 18 $ 50 $ 18 $ 18 $ 49 $ 17 $ 17
3 YEARS
- - Redemption. . . . . $ 69 $86 $ 53 $ 70 $ 88 $ 55 $ 69 $ 86 $ 53
- - No Redemption . . . $ 69 $ 53 $ 53 $ 70 $ 55 $ 55 $ 69 $ 53 $ 53
5 YEARS
- - Redemption. . . . . $ 90 $116 $ 92 $ 92 $118 $ 94 $ 90 $115 $ 91
- - No Redemption . . . $ 90 $ 92 $ 92 $ 92 $ 94 $ 94 $ 90 $ 91 $ 91
10 YEARS*
- - Redemption. . . . . $151 $162 $200 $156 $166 $205 $150 $161 $199
- - No Redemption . . . $151 $162 $200 $156 $166 $205 $150 $161 $199
</TABLE>
<TABLE>
<CAPTION>
TAX-FREE SHORT-INTERMEDIATE
BOND FUND
---------------------------
CLASS A CLASS B CLASS C
SHARES SHARES SHARES
------- ------- -------
<S> <C> <C> <C>
1 YEAR
- - Redemption. . . . . $ 49 $ 69 $ 28
- - No Redemption . . . $ 49 $ 18 $ 18
3 YEARS
- - Redemption. . . . . $ 69 $ 86 $ 53
- - No Redemption . . . $ 69 $ 53 $ 53
5 YEARS
- - Redemption. . . . . $ 90 $116 $ 92
- - No Redemption . . . $ 90 $ 92 $ 92
10 YEARS*
- - Redemption. . . . . $151 $162 $200
- - No Redemption . . . $151 $162 $200
</TABLE>
- ---------------
* Reflects conversion of Class B Shares to Class A Shares (which pay lower
ongoing expenses) six years after purchase. Class B Shares of the Munder Funds
purchased on or before June 27, 1995 are subject to a different CDSC schedule.
See "REDEMPTIONS OF SHARES-What Price Do I Receive for Redeemed Shares?"
CDSC WAIVERS
The "REDEMPTIONS OF SHARES--What Price Do I Receive for Redeemed Shares?--CDSC
Waivers" section in the Prospectus is deleted in its entirety and replaced with
the following:
CDSC WAIVERS. We will waive the CDSC payable upon redemptions of shares
which you purchased after June 27, 1995 for:
- redemptions made within one year after the death of a shareholder or
registered joint owner
- minimum required distributions made from an IRA or other individual
retirement plan account after you reach age 70 1/2
- involuntary redemptions made by the Fund
- redemptions limited to 10% per year of the account's NAV. For
example, if you maintain an annual balance of $10,000 you can redeem
up to $1,000 annually free of charge.
We will waive the CDSC payable upon redemptions of shares which you
purchased after December 1, 1998 for:
<PAGE>
- redemptions made from an IRA or other individual retirement plan
account established through Comerica Securities, Inc. after you reach
age 59 1/2 and after the eighteen month anniversary of the purchase of
Fund shares.
Consult the SAI for Class B Share CDSC waivers which apply when you redeem
shares purchased on or before June 27, 1995.
We will waive the CDSC for Class B Shares for all redemptions by Merrill
Lynch Plans if: (i) the Plan is record kept on a daily valuation basis by
Merrill Lynch; or (ii) the Plan is record kept on a daily valuation basis by an
independent record keeper whose services are provided through a contract or
alliance arrangement with Merrill Lynch; or (iii) the Plan has less than 500
eligible employees, as determined by the Merrill Lynch plan conversion manager,
on the date the Plan Sponsor signs the Merrill Lynch Record keeping Service
Agreement.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED MARCH 26, 1999
TO PROSPECTUS DATED OCTOBER 27, 1998
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
The section entitled "FUND HIGHLIGHTS--What Are the Key Facts Regarding the
Funds?--HOW DO I BUY AND SELL SHARES OF THE FUNDS?" and the section entitled
"PURCHASES AND EXCHANGES OF SHARES--How Can I Exchange Shares?" are supplemented
as follows:
You may exchange Class A Shares of the Trust Funds for Class A, Class B or Class
C Shares of other Funds of the Trust, the Company or Framlington, subject to any
applicable sales charge differential.
CHANGE OF ADDRESS
Please send your Account Application, exchange order or redemption request by
mail to: THE MUNDER FUNDS, C/O FIRST DATA INVESTOR SERVICES GROUP, P.O. BOX
60428, KING OF PRUSSIA, PENNSYLVANIA 19406-0428.
The "EXAMPLE" section in the Prospectus is hereby deleted in its entirety and
replaced with the following:
EXAMPLE
This example shows the amount of expenses you would pay (directly or
indirectly) on a $1,000 investment in the Fund assuming (1) a 5% annual return
and (2) redemption at the end of the time periods. THIS EXAMPLE IS NOT A
REPRESENTATION OF PAST OR FUTURE PERFORMANCE OR OPERATING EXPENSES; ACTUAL
OPERATING PERFORMANCE OR EXPENSES MAY BE LARGER OR SMALLER THAN THOSE SHOWN.
<TABLE>
<CAPTION>
CLASS A SHARES
-------------------------------------------------------------------
CASH MONEY TAX-FREE MONEY U.S. TREASURY
INVESTMENT FUND MARKET FUND MARKET FUND MONEY MARKET FUND
--------------- ----------- -------------- -----------------
<S> <C> <C> <C> <C>
1 Year . . . . . . . $ 8 $ 9 $ 8 $ 8
3 Years. . . . . . . $24 $ 28 $25 $ 26
5 Years. . . . . . . $42 $ 49 $44 $ 46
10 Years . . . . . . $95 $110 $98 $102
</TABLE>
This example shows the amount of expenses you would pay (directly or
indirectly) on a $1,000 investment in Class B Shares, assuming (1) a
hypothetical 5% annual return, (2) redemption at the end of the following time
period and (3) no redemption at the end of the following time periods:
<TABLE>
<CAPTION>
MONEY MARKET FUND
CLASS B SHARES
- -----------------------------------------------------------------------------------------------------------------------
1 YEAR 3 YEARS 5 YEARS 10 YEARS*
------ ------- ------- ---------
No No No No
Redemption Redemption Redemption Redemption Redemption Redemption Redemptionn Redemption
---------- ---------- ---------- ---------- ---------- ----------- ----------- ----------
<S> <C> <C> <C> <C> <C> <C> <C>
$67 $17 $85 $52 $113 $89 $156 $156
</TABLE>
- ---------------
* Reflects conversion of Class B Shares to Class A Shares (which pay lower
ongoing expenses) six years after date of original purchase.
The following example shows the amount of expenses you would pay
(directly or indirectly) on a $1,000 investment in Class C Shares, assuming (1)
a hypothetical 5% annual return, (2) redemption at the end of the following time
periods and (3) no redemption at the end of one year:
<PAGE>
<TABLE>
<CAPTION>
MONEY MARKET FUND
CLASS C SHARES
- --------------------------------------------------------------------------------
1 YEAR
- ----------------------------
Redemption No Redemption 3 YEARS 5 YEARS 10 YEARS
---------- ------------- ------- ------- --------
<S> <C> <C> <C> <C>
$27 $17 $52 $89 $195
</TABLE>
CDSC WAIVERS
The "REDEMPTIONS OF SHARES--What Price Do I Receive for Redeemed Shares?--CDSC
Waivers" section in the Prospectus is deleted in its entirety and replaced with
the following:
CDSC WAIVERS. We will waive the CDSC payable upon redemptions of Class B
Shares of the Money Market Fund which you purchased after June 27, 1995 for:
- redemptions made within one year after the death of a shareholder or
registered joint owner
- minimum required distributions made from an IRA or other individual
retirement plan account after you reach age 70 1/2
- involuntary redemptions made by the Fund
- redemptions limited to 10% per year of the account's NAV. For
example, if you maintain an annual balance of $10,000 you can redeem
up to $1,000 annually free of charge.
We will waive the CDSC payable upon redemptions of shares which you
purchased after December 1, 1998 for:
- redemptions made from an IRA or other individual retirement plan
account established through Comerica Securities, Inc. after you reach
age 59 1/2 and after the eighteen month anniversary of the purchase of
Fund shares.
Consult the SAI for Class A Share CDSC waivers and Class B Share CDSC
waivers which apply when you redeem shares of the Money Market Fund purchased on
or before June 27, 1995.
<PAGE>
THE MUNDER FUNDS
SUPPLEMENT DATED MARCH 26, 1999
TO PROSPECTUS DATED OCTOBER 27, 1998
CLASS K SHARES OF:
MUNDER BALANCED 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
INTERMEDIATE BOND FUND, MUNDER CASH INVESTMENT FUND, MUNDER TAX-FREE MONEY
MARKET FUND AND MUNDER U.S. TREASURY MONEY MARKET FUND
CHANGE OF NAME FOR TAX-FREE INTERMEDIATE BOND FUND
The name of the Tax-Free Intermediate Bond Fund has been changed to the Tax-Free
Short-Intermediate Bond Fund.
The section entitled "Goal and Principal Investments" for Tax-Free Intermediate
Bond Fund under the "FUND CHOICES--What Funds Are Offered?" section in the
Prospectus is deleted in its entirety and replaced with the following:
TAX-FREE SHORT-INTERMEDIATE BOND FUND
GOAL AND PRINCIPAL INVESTMENTS. The Fund's goal is to provide a
competitive level of current interest income exempt from regular Federal income
taxes and a total return which, over time, exceeds the rate of inflation and the
return provided by tax-free money market instruments.
- Under normal market conditions, at least 65% of the Fund's assets
will be invested in Municipal Obligations.
- Except during temporary defensive periods, at least 80% of the
Fund's net assets will be invested in Municipal Obligations whose
interest is exempt from regular Federal income tax.
- The Fund invests in Michigan Municipal Obligations from time to
time.
- The Fund generally buys obligations with remaining maturities of
five years or less.
- The Fund's dollar-weighted average maturity will generally be
between two and five years.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED MARCH 26, 1999
TO PROSPECTUS DATED OCTOBER 27, 1998
CLASS Y SHARES OF:
MUNDER BALANCED FUND, MUNDER GROWTH & INCOME 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
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
CHANGE OF NAME FOR TAX-FREE INTERMEDIATE BOND FUND
The name of the Tax-Free Intermediate Bond Fund has been changed to the Tax-Free
Short-Intermediate Bond Fund.
The section entitled "Goal and Principal Investments" for Tax-Free Intermediate
Bond Fund under the "FUND CHOICES--What Funds Are Offered?" section in the
Prospectus is deleted in its entirety and replaced with the following:
TAX-FREE SHORT-INTERMEDIATE BOND FUND
GOAL AND PRINCIPAL INVESTMENTS. The Fund's goal is to provide a
competitive level of current interest income exempt from regular Federal income
taxes and a total return which, over time, exceeds the rate of inflation and the
return provided by tax-free money market instruments.
- Under normal market conditions, at least 65% of the Fund's assets
will be invested in Municipal Obligations.
- Except during temporary defensive periods, at least 80% of the
Fund's net assets will be invested in Municipal Obligations whose
interest is exempt from regular Federal income tax.
- The Fund invests in Michigan Municipal Obligations from time to time.
- The Fund generally buys obligations with remaining maturities of five
years or less.
- The Fund's dollar-weighted average maturity will generally be between
two and five years.
CHANGE OF ADDRESS
Please send your Account Application by mail to: THE MUNDER FUNDS, C/O FIRST
DATA INVESTOR SERVICES GROUP, P.O. BOX 60428, KING OF PRUSSIA, PENNSYLVANIA
19406-0428.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
THE MUNDER FUNDS
SUPPLEMENT DATED MARCH 26, 1999
TO STATEMENT OF ADDITIONAL INFORMATION DATED OCTOBER 27, 1998
MUNDER BALANCED FUND, MUNDER EQUITY SELECTION FUND, MUNDER GROWTH & INCOME FUND,
MUNDER INDEX 500 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 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
CHANGE OF NAME FOR TAX-FREE INTERMEDIATE BOND FUND
The name of the Tax-Free Intermediate Bond Fund has been changed to the Tax-Free
Short-Intermediate Bond Fund.
INVESTMENT ADVISORY AGREEMENT
The second paragraph of the "INVESTMENT ADVISORY AND OTHER SERVICE
ARRANGEMENTS" section in the Statement of Additional Information is deleted in
its entirety and replaced with the following:
The Funds have entered into Investment Advisory Agreements (the "Advisory
Agreements") with the Advisor on behalf of each Fund of the Company, the Trust
and Framlington. The Advisory Agreements have been approved by the Boards of
Directors/Trustees and by the shareholders of each Fund.
