MORGAN GRENFELL INVESTMENT TRUST
International Select Equity Fund, Global Equity Fund, European Equity Growth
Fund, New Asia Fund, International Small Cap Equity Fund, Japanese Small Cap
Equity Fund, European Small Cap Equity Fund, Emerging Markets Equity Fund, Core
Global Fixed Income Fund, Global Fixed Income Fund, International Fixed Income
Fund, Emerging Markets Debt Fund and Emerging Local Currency Debt Fund
SUPPLEMENT DATED NOVEMBER 4, 1999 (REPLACING SUPPLEMENT DATED OCTOBER 20, 1999)
TO STATEMENT OF ADDITIONAL INFORMATION ("SAI") DATED MARCH 1, 1999
THE FOLLOWING REPLACES DISCLOSURE RELATING TO THE DISTRIBUTOR IN THE FUNDS' SAI
EFFECTIVE NOVEMBER 1, 1999:
THE DISTRIBUTOR
The Trust's distributor is ICC Distributors, Inc., Two Portland Square,
Portland, Maine 04101.
THE FOLLOWING REPLACES DISCLOSURE RELATING TO THE TRANSFER AGENT IN THE FUNDS'
SAI EFFECTIVE NOVEMBER 23, 1999:
THE TRANSFER AGENT
Investment Company Capital Corp., One South Street, Baltimore, Maryland 21202
("ICCC"), has been retained to act as transfer and dividend disbursing agent.
THE FOLLOWING REVISES MORGAN GRENFELL INVESTMENT TRUST'S ADDRESS FOR ALL
CORRESPONDENCE, INCLUDING APPLICATIONS:
Morgan Grenfell Investment Trust
P.O. Box 219165
Kansas City, MO 64121
The address for overnight mail, as stated in the SAI, remains the same.
THE FOLLOWING PARAGRAPH IS HEREBY DELETED FROM THE "TRUSTEES AND OFFICERS"
SECTION OF THE FUNDS' SAI:
<TABLE>
<CAPTION>
Principal Occupation During Past Five
Name and Address Positions with Trust Years
- -------------------------------------------------------------------------------------------------------------------------
<S> <C>
James E. Minnick (1)(3)* President, Chief Executive Officer, President, Secretary and Treasurer,
885 Third Avenue and Trustee Morgan Grenfell Inc. ("MG
New York, NY 10022 Inc.")(since 1990).
(age 50)
Patrick W.W. Disney (1)(3)* Senior Vice President and Trustee Director, Morgan Grenfell Investment
20 Finsbury Circus Services Limited ("MGIS") (since
London EC2M 1NB 1988).
ENGLAND
(age 42)
</TABLE>
<PAGE>
THE FOLLOWING PARAGRAPH IS HEREBY ADDED TO THE "TRUSTEES AND OFFICERS" SECTION
OF THE FUNDS' SAI:
<TABLE>
<CAPTION>
Principal Occupation During Past Five
Name and Address Positions with Trust Years
- -------------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Amy M. Olmert Treasurer, Chief Financial Officer Vice President, Deutsche Asset
One South Street Management Inc. (since 1999); Vice
Baltimore, MD 21202 President, BT Alex. Brown Inc.
(age 36) (1997-1999); Senior Manager,
PricewaterhouseCoopers LLP,
(1988-1997)
Daniel O. Hirsch Secretary Principal, Deutsche Asset Management
One South Street Inc. (since July 1998); Assistant
Baltimore, MD 21202 General Counsel, Office of the
(age 45) General Counsel, United States
Securities and Exchange Commission
(1993-1998).
</TABLE>
THE FOLLOWING REVISES THE DESCRIPTION OF THE INVESTMENT ADVISER AND
ADMINISTRATOR IN THE FUNDS' SAI:
The investment adviser to each Fund, Morgan Grenfell Investment Services
Limited, changed its name to Deutsche Asset Management Investment Services
Limited effective October 5, 1999. Also effective October 5, 1999, the
administrator to each Fund, Morgan Grenfell Inc., changed its name to Deutsche
Asset Management Inc. All other information disclosed in the SAI concerning the
investment adviser and administrator remains the same.
THE FOLLOWING INFORMATION IS HEREBY DELETED FROM "APPENDIX C - PORTFOLIO MANAGER
INFORMATION" IN THE SAI FOR THE INTERNATIONAL SELECT EQUITY FUND, GLOBAL EQUITY
FUND, INTERNATIONAL SMALL CAP EQUITY FUND, EUROPEAN SMALL CAP
EQUITY FUND, AND EMERGING MARKETS EQUITY FUND:
<TABLE>
<CAPTION>
Funds Portfolio Managers
- ---------------------------------------------------------------------------- --------------------------------------------
<S> <C> <C> <C> <C> <C> <C>
Morgan Grenfell International Select Equity Fund Patrick Disney
Morgan Grenfell Global Equity Fund Patrick Disney
Morgan Grenfell International Small Cap Equity Fund Helene Jelman
Morgan Grenfell European Small Cap Equity Fund Helene Jelman
Morgan Grenfell Emerging Markets Equity Fund Alan Nesbit
<PAGE>
Portfolio Manager Expertise Professional Experience
- ----------------------------------------- ---------------------------------- -----------------------------------------------------
Patrick Disney EAFE Markets Managing Director, MGIS (since 1988); Director,
MGIS (1987-1988); EAFE Team (since 1981).
Helene Jelman European Equities Fund Manager, MGIS (since 1996); Cazenove
(1995-1996); Price Waterhouse (1991-1995).
Director, MGAM (since 1998) and Morgan Grenfell
Alan Nesbit Emerging Markets Trust Managers (since 1991); Fund Manager, MGIS
(since 1997); Portfolio Manager, Latin American
Equities, MGIS (since 1991).
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
</TABLE>
MG-F-04-1199-04
<PAGE>
MORGAN GRENFELL INVESTMENT TRUST
Fixed Income Fund, Short-Term Fixed Income Fund, Municipal Bond Fund, Short-Term
Municipal Bond Fund, Total Return Bond Fund, High Yield Bond Fund, Smaller
Companies Fund, Microcap Fund, Large Cap Growth Fund
SUPPLEMENT DATED NOVEMBER 4, 1999 (REPLACING SUPPLEMENT DATED OCTOBER 20, 1999)
TO STATEMENT OF ADDITIONAL INFORMATION ("SAI") DATED MARCH 1, 1999
THE FOLLOWING REPLACES DISCLOSURE RELATING TO THE DISTRIBUTOR IN THE FUNDS' SAI
EFFECTIVE NOVEMBER 1, 1999:
THE DISTRIBUTOR
The Trust's distributor is ICC Distributors, Inc., Two Portland Square,
Portland, Maine 04101.
THE FOLLOWING REPLACES DISCLOSURE RELATING TO THE TRANSFER AGENT IN THE FUNDS'
SAI EFFECTIVE NOVEMBER 23, 1999:
THE TRANSFER AGENT
Investment Company Capital Corp., One South Street, Baltimore, Maryland 21202
("ICCC"), has been retained to act as transfer and dividend disbursing agent.
THE FOLLOWING REVISES MORGAN GRENFELL INVESTMENT TRUST'S ADDRESS FOR ALL
CORRESPONDENCE, INCLUDING APPLICATIONS:
Morgan Grenfell Investment Trust
P.O. Box 219165
Kansas City, MO 64121
The address for overnight mail, as stated in the SAI, remains the same.
THE FOLLOWING PARAGRAPH IS HEREBY DELETED FROM THE "TRUSTEES AND OFFICERS"
SECTION OF THE FUNDS' SAI:
<TABLE>
<CAPTION>
Principal Occupation During Past Five
Name and Address Positions with Trust Years
- -------------------------------------------------------------------------------------------------------------------------
<S> <C>
James E. Minnick (1)(3)* President, Chief Executive Officer, President, Secretary and Treasurer,
885 Third Avenue and Trustee Morgan Grenfell Inc. ("MG
New York, NY 10022 Inc.")(since 1990).
(age 50)
Patrick W.W. Disney (1)(3)* Senior Vice President and Trustee Director, Morgan Grenfell Investment
20 Finsbury Circus Services Limited ("MGIS") (since
London EC2M 1NB 1988).
ENGLAND
(age 42)
<PAGE>
THE FOLLOWING PARAGRAPH IS HEREBY ADDED TO THE "TRUSTEES AND OFFICERS" SECTION
OF THE FUNDS' SAI:
Principal Occupation During Past Five
Name and Address Positions with Trust Years
- -------------------------------------------------------------------------------------------------------------------------
Amy M. Olmert Treasurer, Chief Financial Officer Vice President, Deutsche Asset
One South Street Management Inc. (since 1999); Vice
Baltimore, MD 21202 President, BT Alex. Brown Inc.
(age 36) (1997-1999); Senior Manager,
PricewaterhouseCoopers LLP,
(1988-1997)
Daniel O. Hirsch Secretary Principal, Deutsche Asset Management
One South Street Inc.(since July 1998); Assistant
Baltimore, MD 21202 General Counsel, Office of the
(age 45) General Counsel, United States
Securities and Exchange Commission
(1993-1998).
</TABLE>
THE FOLLOWING REVISES THE DESCRIPTION OF THE INVESTMENT ADVISER, ADMINISTRATOR
AND SUBADVISER IN THE FUNDS' SAI:
The investment adviser and administrator to the Funds, Morgan Grenfell Inc.,
changed its name to Deutsche Asset Management Inc. effective October 5, 1999.
Also effective October 5, 1999, the subadviser to the Total Return Bond Fund,
Morgan Grenfell Investment Services Limited, changed its name to Deutsche Asset
Management Investment Services Limited. All other information disclosed in the
SAI concerning the investment adviser, administrator and subadviser remains the
same.
THE FOLLOWING INFORMATION SUPPLEMENTS THE "INVESTMENT ADVISORY AND OTHER
SERVICES - PORTFOLIO MANAGEMENT" SECTION OF THE SAI FOR THE FIXED INCOME FUND,
SHORT-TERM FIXED INCOME FUND, TOTAL RETURN BOND FUND AND HIGH YIELD BOND FUND
(COLLECTIVELY, THE "FIXED INCOME FUNDS"):
Robert Guzman has joined the investment team for the Fixed Income Funds as a
portfolio manager. Mr. Guzman has been in the investment advisory business since
1986 and has managed funds with Bankers Trust Company and the Union Bank of
Switzerland.
<PAGE>
THE FOLLOWING PARAGRAPH REPLACES IN ITS ENTIRETY THE THIRD PARAGRAPH UNDER
"INVESTMENT ADVISORY AND OTHER SERVICES -- PORTFOLIO MANAGEMENT" IN THE SAI FOR
THE SMALLER COMPANIES FUND AND MICROCAP FUND:
The Smaller Companies Fund and Microcap Fund are each managed by a team of three
experienced portfolio managers, Audrey M.T. Jones, John P. Callaghan and Mary P.
Dugan. Ms. Jones has served as a member of the Funds' portfolio management team
since the Funds' inception, and has been employed by the investment adviser as a
portfolio manager since 1986. Mr. Callaghan joined the Funds' portfolio
management team (and the investment adviser) in June 1997 and, prior to such
time, worked as a portfolio manager for Odyssey Partners and Weiss, Peck &
Greer. Ms. Dugan joined the Funds' portfolio management team (and the investment
adviser) as a portfolio manager in June 1999 and, prior to such time, worked as
a portfolio manager or analyst at Bankers Trust Company and Fred Alger Asset
Management.
David A. Baratta, formerly a portfolio manager and officer of the Funds (and the
investment adviser), has resigned.
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE
MG-F-02-1199-04
