<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated February 22, 2000
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
AVAILABILITY OF SHARES
The Class C Shares of the Equity Selection Fund, Growth Opportunities Fund
and Framlington Global Financial Services Fund are not currently available for
purchase.
CLOSING OF VALUE FUND
Shares of the Value Fund are no longer available to new accounts but
additional investments may be made in existing accounts until April 14, 2000.
WAIVER OF SALES CHARGE FOR VALUE FUND
The contingent deferred sales charge imposed on redemptions for current
holders of Class B or Class C Shares of the Value Fund is being waived.
Current holders of Class A, Class B or Class C Shares of the Value 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 Value Fund.
CHANGE OF NAME FOR GROWTH & INCOME FUND
The Board of Trustees of The Munder Funds Trust has changed the name of the
Growth & Income Fund to the Equity Income Fund.
CHANGE OF NAME AND PERFORMANCE BENCHMARK FOR EQUITY SELECTION FUND
The Board of Directors of The Munder Funds, Inc. has changed the name of
the Equity Selection Fund to the Focus Growth Fund, and approved the change in
performance benchmark for the Fund. Accordingly, the section entitled "Risk
Return Summary--Principal Investment Strategies" of the 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.
SUPPROEQABC200
<PAGE>
PORTFOLIO MANAGEMENT OF REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is manager of the Real Estate Equity Investment Fund. Mr.
Crosby has managed the Fund since March 1998 and was the Fund's primary
analyst from 1996-1998. Mr. Crosby serves as portfolio manager for separately
managed institutional accounts, and has been with the Advisor since 1993.
PORTFOLIO MANAGEMENT OF VALUE FUND
John S. Adams, Brian Wall and Heather Williams jointly manage the Fund. Mr.
Wall, who has managed the Fund since January 1998, was formerly a primary
analyst for the Fund. Prior to joining the Advisor in 1995, he was a Senior
Equity Analyst with Woodbridge Capital Management, Inc. (1994-1995). Mr.
Adams, Senior Portfolio Manager of the Advisor, has managed the Fund since
August 1999. Mr. Adams has managed institutional equity and balanced
portfolios for the Advisor since 1987. Ms. Williams has managed the Fund since
January 2000. Ms. Williams has managed institutional value portfolios for the
Advisor since 1996. Ms. Williams served as Vice President and Quantitative
Analyst for Loomis, Sayles & Company, L.P. (1992-1996).
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 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 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 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 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.
PRINCIPAL INVESTMENT STRATEGIES OF BALANCED FUND
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Balanced Fund in the prospectus is hereby supplemented with the
following:
Stocks are chosen on the basis of above-average and sustainable earnings
growth, financial stability or attractive valuation using the advisor's
proprietary GARP (Growth at a Reasonable Price) style, which focuses on
analysis of current versus historical interest rate relationships and the
relative value of the bond market sectors.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated February 22, 2000
to Prospectus Dated October 26, 1999
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 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
CLOSING OF VALUE FUND
Shares of the Value Fund are no longer available to new accounts but
additional investments may be made in existing accounts until April 14, 2000.
CHANGE OF NAME FOR GROWTH & INCOME FUND
The Board of Trustees of The Munder Funds Trust has changed the name of the
Growth & Income Fund to the Equity Income Fund.
PORTFOLIO MANAGEMENT OF REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is manager of the Real Estate Equity Investment Fund. Mr.
Crosby has 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.
PORTFOLIO MANAGEMENT OF VALUE FUND
John S. Adams, Brian Wall and Heather Williams jointly manage the Fund. Mr.
Wall, who has managed the Fund since January 1998, was formerly a primary
analyst for the Fund. Prior to joining the Advisor in 1995, he was a Senior
Equity Analyst with Woodbridge Capital Management, Inc. (1994-1995). Mr.
Adams, Senior Portfolio Manager of the Advisor, has managed the Fund since
August 1999. Mr. Adams has managed institutional equity and balanced
portfolios for the Advisor since 1987. Ms. Williams has managed the Fund since
January 2000. Ms. Williams has managed institutional value portfolios for the
Advisor since 1996. Ms. Williams served as Vice President and Quantitative
Analyst for Loomis, Sayles & Company, L.P. (1992-1996).
PORTFOLIO MANAGEMENT OF BOND FUND, INTERMEDIATE BOND FUND AND
U.S. GOVERNMENT INCOME FUND
Anne K. Kennedy and Peter G. Root jointly manage the Bond Fund, the
Intermediate Bond Fund and U.S. Government Income Fund. Ms. Kennedy, Vice
President and Director of Portfolio Management of the Advisor or of Old MCM,
Inc. ("Old MCM"), the predecessor to the Advisor since 1991, has managed the
Bond Fund and the U.S. Government Income Fund since January 2000 and the
Intermediate Bond Fund since March 1995. Mr. Root, Vice President and Chief
Investment Officer of Fixed Income of the Advisor since March 1995, has
managed the Bond Fund and Intermediate Bond Fund since January 2000 and the
U.S. Government Income Fund since March 1995. Mr. Root joined Old MCM in 1991.
PORTFOLIO MANAGEMENT OF INTERNATIONAL BOND FUND
Sharon E. Fayolle and Peter G. Root jointly manage the International Bond
Fund. Ms. Fayolle, Vice President and Director of Money Market Trading for the
Advisor or Old MCM, has managed the Fund since 1996. Prior to that she managed
an international portfolio for Ford Motor Company. Mr. Root, Vice President
and Chief Investment Officer of Fixed Income of the Advisor since March 1995,
has managed the Fund since January 2000. Mr. Root joined Old MCM in 1991.
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 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 Value Fund from long-term capital appreciation, with its
secondary goal to provide income to long-term capital appreciation.
SUPPROK200
<PAGE>
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 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 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.
PRINCIPAL INVESTMENT STRATEGIES OF BALANCED FUND AND
REAL ESTATE EQUITY INVESTMENT FUND
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Balanced Fund in the prospectus is hereby supplemented with the
following:
Stocks are chosen on the basis of above-average and sustainable earnings
growth, financial stability or attractive valuation using the advisor's
proprietary GARP (Growth at a Reasonable Price) style, which focuses on
analysis of current versus historical interest rate relationships and the
relative value of the bond market sectors.
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Real Estate Equity Investment Fund in the prospectus is hereby
supplemented with the following:
The advisor selects companies exhibiting steady cash flows, financial
stability, quality management and reasonable valuations.
MANAGEMENT
The last two paragraphs in the section entitled "Management--Investment
Advisors And Sub-Advisor" in the prospectus are hereby deleted and replaced
with the following:
During the fiscal year ended June
30, 1999, each Fund paid an advisory
fee at an annual rate based on the
average daily net assets of the Fund
(after waivers, if any) as follows:
<TABLE>
<S> <C>
Balanced Fund................ 0.65%
Growth & Income Fund......... 0.75%
Growth Opportunities Fund.... 0.75%
Index 500 Fund............... 0.07%
International Equity Fund.... 0.75%
Micro-Cap Equity Fund........ 1.00%
Multi-Season Growth Fund..... 0.75%
Real Estate Equity Investment
Fund........................ 0.74%
Small-Cap Value Fund......... 0.75%
Small Company Growth Fund.... 0.75%
Value Fund................... 0.74%
Framlington Emerging Markets
Fund........................ 1.25%
Framlington Healthcare Fund.. 1.00%
Framlington International
Growth Fund................. 1.00%
Bond Fund.................... 0.50%
Intermediate Bond Fund....... 0.50%
</TABLE>
<TABLE>
<S> <C>
International Bond Fund...... 0.50%
U.S. Government Income Fund.. 0.50%
Michigan Tax-Free Bond Fund.. 0.50%
Tax-Free Bond Fund........... 0.50%
Tax-Free Short-Intermediate
Bond Fund................... 0.50%
Cash Investment Fund......... 0.35%
Tax-Free Money Market Fund... 0.35%
U.S. Treasury Money Market
Fund........................ 0.35%
</TABLE>
During the fiscal year ended June
30, 1999, a portion of the advisory
fees for the Index 500 Fund and the
Multi-Season Growth Fund were
waived. As a result, the payments
shown above for those Funds were
less than the contractual advisory
fees of .20% of the first $250
million of the Index 500 Fund's
average daily net assets; .12% of
the next $250 million of the Fund's
average daily net assets and .07% of
the Fund's average daily net assets
over $500 million and 1.00% of the
first $500 million of the Multi-
Season Growth Fund's average daily
net assets and .75% of that Fund's
average daily net assets over $500
million.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated February 22, 2000
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
CLOSING OF VALUE FUND AND SHORT TERM TREASURY FUND
Shares of the Value Fund and Short Term Treasury Fund are no longer
available to new accounts but additional investments may be made in existing
accounts until April 14, 2000.
CHANGE OF NAME FOR GROWTH & INCOME FUND
The Board of Trustees of The Munder Funds Trust has changed the name of the
Growth & Income Fund to the Equity Income Fund.
CHANGE OF NAME AND PERFORMANCE BENCHMARK FOR EQUITY SELECTION FUND
The Board of Directors of The Munder Funds, Inc. has changed the name of
the Equity Selection Fund to the Focus Growth Fund, and approved the change in
performance benchmark for the Fund. Accordingly, the section entitled "Risk
Return Summary--Principal Investment Strategies" of the 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.
PORTFOLIO MANAGEMENT OF REAL ESTATE EQUITY INVESTMENT FUND
Robert E. Crosby is manager of the Real Estate Equity Investment Fund. Mr.
Crosby has managed the Fund since March 1998 and was the Fund's primary
analyst from 1996-1998. Mr. Crosby serves as portfolio manager for separately
managed institutional accounts, and has been with the Advisor since 1993.
PORTFOLIO MANAGEMENT OF VALUE FUND
John S. Adams, Brian Wall and Heather Williams jointly manage the Fund. Mr.
Wall, who has managed the Fund since January 1998, was formerly a primary
analyst for the Fund. Prior to joining the Advisor in 1995, he was a Senior
Equity Analyst with Woodbridge Capital Management, Inc. (1994-1995). Mr.
Adams, Senior Portfolio Manager of the Advisor, has managed the Fund since
August 1999. Mr. Adams has managed institutional equity and balanced
portfolios for the Advisor since 1987. Ms. Williams has managed the Fund since
January 2000. Ms. Williams has managed institutional value portfolios for the
Advisor since 1996. Ms. Williams served as Vice President and Quantitative
Analyst for Loomis, Sayles & Company, L.P. (1992-1996).
PORTFOLIO MANAGEMENT OF BOND FUND, INTERMEDIATE BOND FUND AND
U.S. GOVERNMENT INCOME FUND
Anne K. Kennedy and Peter G. Root jointly manage the Bond Fund, the
Intermediate Bond Fund and U.S. Government Income Fund. Ms. Kennedy, Vice
President and Director of Portfolio Management of the Advisor or of Old MCM,
Inc. ("Old MCM"), the predecessor to the Advisor since 1991, has managed the
Bond Fund and the U.S. Government Income Fund since January 2000 and the
Intermediate Bond Fund since March 1995. Mr. Root, Vice President and Chief
Investment Officer of Fixed Income of the Advisor since March 1995, has
managed the Bond Fund and Intermediate Bond Fund since January 2000 and the
U.S. Government Income Fund since March 1995. Mr. Root joined Old MCM in 1991.
SUPPROY200
<PAGE>
PORTFOLIO MANAGEMENT OF INTERNATIONAL BOND FUND
Sharon E. Fayolle and Peter G. Root jointly manage the International Bond
Fund. Ms. Fayolle, Vice President and Director of Money Market Trading for the
Advisor or Old MCM, has managed the Fund since 1996. Prior to that she managed
an international portfolio for Ford Motor Company. Mr. Root, Vice President
and Chief Investment Officer of Fixed Income of the Advisor since March 1995,
has managed the Fund since January 2000. Mr. Root joined Old MCM in 1991.
ADDITION OF CO-MANAGER FOR SHORT TERM TREASURY FUND
Tom O'Rourke has been appointed co-manager of the Short Term Treasury Fund.
Mr. O'Rourke has managed short term institutional portfolios for the Advisor
since 1998. Prior to joining the Advisor, Mr. O'Rourke was employed by Kmart
Corporation as a manager of corporate finance. Mr. O'Rourke managed a fixed
income portfolio for the corporation's pension plan, as well as managing the
corporation's stable value portfolio for their 401(k) plan.
AVAILABILITY OF SHARES
The Class Y Shares of all the Funds except the Cash Investment Fund, Multi-
Season Growth Fund and the Money Market Fund are not currently available for
purchase in the State of Nebraska. The Class Y Shares of the Future Technology
Fund, Framlington Global Financial Services Fund, Growth Opportunities Fund
and Short Term Treasury Fund are not currently available for purchase in the
State of New Hampshire. The Class Y Shares of Framlington Global Financial
Services Fund, Growth Opportunities Fund and 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 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 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 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 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.
PRINCIPAL INVESTMENT STRATEGIES OF BALANCED FUND
AND REAL ESTATE EQUITY INVESTMENT FUND
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Balanced Fund in the prospectus is hereby supplemented with the
following:
Stocks are chosen on the basis of above-average and sustainable earnings
growth, financial stability or attractive valuation using the advisor's
proprietary GARP (Growth at a Reasonable Price) style, which focuses on
analysis of current versus historical interest rate relationships and the
relative value of the bond market sectors.
The section entitled "Risk Return Summary--Principal Investment Strategies"
of the Real Estate Equity Investment Fund in the prospectus is hereby
supplemented with the following:
The advisor selects companies exhibiting steady cash flows, financial
stability, quality management and reasonable valuations.
<PAGE>
THIS SUPPLEMENTAL SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated February 22, 2000
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
CLOSING OF ALL-SEASON CONSERVATIVE FUND AND ALL-SEASON MODERATE FUND
Shares of the All-Season Conservative Fund and All-Season Moderate Fund are
no longer available to new accounts but additional investments may be made in
existing accounts until April 14, 2000.
WAIVER OF SALES CHARGE FOR ALL-SEASON CONSERVATIVE FUND
AND ALL-SEASON MODERATE FUND
The contingent deferred sales charge imposed on redemptions for current
holders of Class B Shares of the All-Season Conservative Fund and All-Season
Moderate Fund is being waived. Current holders of Class A or Class B Shares of
the All-Season Conservative Fund and All-Season Moderate 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 All-Season Conservative Fund or All-Season
Moderate Fund.
CLOSING OF VALUE FUND
Shares of the Value Fund are no longer available to new accounts but
additional investments may be made in existing accounts until April 14, 2000.
CHANGE OF NAME FOR GROWTH & INCOME FUND
The Board of Trustees of The Munder Funds Trust has changed the name of the
Growth & Income Fund to the Equity Income Fund.
CHANGE OF NAME AND PERFORMANCE BENCHMARK FOR EQUITY SELECTION FUND
The Board of Directors of The Munder Funds, Inc. has changed the name of
the Equity Selection Fund to the Focus Growth Fund, and approved the change in
performance benchmark for the Fund. Accordingly, the section entitled "More
About The Funds--Description Of Underlying Funds" for the Focus Growth Fund in
the prospectus is hereby deleted and replaced with the following:
Focus Growth 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.
CHANGE IN METHOD OF PORTFOLIO MANAGEMENT FOR
ALL-SEASON CONSERVATIVE FUND, ALL-SEASON MODERATE FUND
AND ALL-SEASON AGGRESSIVE FUND
The All-Season Conservative Fund, All-Season Moderate Fund and All-Season
Aggressive Fund are each managed by a committee of professional portfolio
managers of the Advisor.
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>
Class A Shares Class B Shares
Conservative Fund -------------- --------------
<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%
===== =====
<CAPTION>
Class A Shares Class B Shares
Moderate Fund -------------- --------------
<S> <C> <C>
Management Fees(1) .35% .35%
Distribution and/or Services (12b-1) Fees .30% 1.00%
Other Expenses(1) 1.89% 1.89%
----- -----
Total Annual Fund Operating Expenses(1) 2.54% 3.24%
===== =====
</TABLE>
SUPPROLIFEAB200
<PAGE>
<TABLE>
<CAPTION>
Class A Shares Class B Shares
Aggressive Fund -------------- --------------
<S> <C> <C>
Management Fees(1) .35% .35%
Distribution and/or Services (12b-1) Fees .30% 1.00%
Other Expenses(1) .31% .31%
----- -----
Total Annual Fund Operating Expenses(1) .96% 1.66%
===== =====
</TABLE>
- -------
(a) The sale 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 waiver, 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 from .37% to 2.45%.
The section entitled "Fee And Expenses--Example" for the Aggressive Fund in
the prospectus is hereby deleted and replaced with the following:
<TABLE>
<CAPTION>
Class A Shares Class B Shares* Class B Shares**
Aggressive Fund -------------- --------------- ----------------
<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 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 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 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 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 Small
Company Growth Fund in the prospectus is hereby deleted and replaced with the
following:
Small Company Growth Fund
The Fund's goal 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
capitalization below $1.5 billion.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated February 22, 2000
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
CLOSING OF ALL-SEASON CONSERVATIVE FUND AND ALL-SEASON MODERATE FUND
Shares of the All-Season Conservative Fund and All-Season Moderate Fund are
no longer available to new accounts but additional investments may be made in
existing accounts until April 14, 2000.
CHANGE IN METHOD OF PORTFOLIO MANAGEMENT FOR ALL-SEASON CONSERVATIVE FUND,
ALL-SEASON MODERATE FUND AND ALL-SEASON AGGRESSIVE FUND
The All-Season Conservative Fund, All-Season Moderate Fund and All-Season
Aggressive Fund are each managed by a committee of professional portfolio
managers of the Advisors.
CLOSING OF VALUE FUND
Shares of the Value Fund are no longer available to new accounts but
additional investments may be made in existing accounts until April 14, 2000.
CHANGE OF NAME FOR GROWTH & INCOME FUND
The Board of Trustees of The Munder Funds Trust has changed the name of the
Growth & Income Fund to the Equity Income Fund.
CHANGE OF NAME AND PERFORMANCE BENCHMARK FOR EQUITY SELECTION FUND
The Board of Directors of The Munder Funds, Inc. has changed the name of
the Equity Selection Fund to the Focus Growth Fund, and approved the change in
performance benchmark for the Fund. Accordingly, the section entitled "More
About The Funds--Description Of Underlying Funds" for the Focus Growth Fund in
the prospectus is hereby deleted and replaced with the following:
Focus Growth 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.
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
compared 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.
All-Season Conservative Fund Class Y Average Annual Total Return
(for the periods ended December 31,
Total Return 1998)
(per calendar year) <TABLE>
-----------------------
<CAPTION>
Since
[BAR CHART] Inception
1 Year (4/3/97)
1998 2.36% -----------------------
<S> <C> <C>
Class Y 2.36% 8.45%
Lehman Brothers Int.
Gov't/Corp. Index* 8.44% 9.15%**
</TABLE>
-------
*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 fixed-rate,
non-convertible investment-grade
domestic corporate debt, excluding
collaterized mortgage obligations.
**Index return from 3/31/97.
- -------
Year-to-date through
September 30, 1999: (0.89)%
<TABLE>
<S> <C> <C>
Best Quarter: Q1 1998 3.74%
Worst Quarter: Q3 1998 (4.33%)
</TABLE>
SUPPROLIFEY200
<PAGE>
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 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 replaced 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 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 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 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 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 Fund--Description Of Underlying Funds" for the 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.
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated February 22, 2000
to Prospectus Dated October 26, 1999
Michigan Municipal Shares of:
Munder Short Term Treasury Fund
CLOSING OF SHORT TERM TREASURY FUND
Shares of the Short Term Treasury Fund are no longer available to new
accounts but additional investments may be made in existing accounts until
April 14, 2000.
ADDITION OF CO-MANAGER FOR SHORT TERM TREASURY FUND
Tom O'Rourke has been appointed co-manager of the Short Term Treasury Fund.
Mr. O'Rourke has managed short term institutional portfolios for the Advisor
since 1998. Prior to joining the Advisor, Mr. O'Rourke was employed by Kmart
Corporation as a manager of corporate finance. Mr. O'Rourke managed a fixed
income portfolio for the corporation's pension plan, as well as managing the
corporation's stable value portfolio for their 401(k) plan.
SUPPROSTT200
<PAGE>
THIS SUPPLEMENT SUPERCEDES ALL PRIOR SUPPLEMENTS
The Munder Funds
Supplement Dated February 22, 2000
to Prospectus Dated October 26, 1999
Class K Shares of:
Munder Equity Selection Fund and
Munder Framlington Global Financial Services Fund
CHANGE OF NAME AND PERFORMANCE BENCHMARK FOR EQUITY SELECTION FUND
The Board of Directors of The Munder Funds, Inc. has changed the name of
the Equity Selection Fund to the Focus Growth Fund, and approved the change in
performance benchmark for the Fund. Accordingly, the section entitled "Risk
Return Summary--Principal Investment Strategies" of the 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.
SUPPROESGFSK200
