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Deutsche Asset Management
Morgan Grenfell Investment Trust
International Small Cap Equity
Investment Class and Institutional Class
Supplement dated June 27, 2000 (Replacing Supplement dated April 6, 2000) to
Prospectuses dated February 28, 2000
The following replaces the second and third sentence of the first paragraph
under the "Principal Investments" section:
The Fund focuses principally on small capitalization companies. For this
purpose, we define small capitalization companies as, at the time of purchase,
(i) companies ranked according to market capitalization in the bottom 25% of
issuers listed on a stock exchange; (ii) companies listed on a secondary market
(such as an inter-dealer market) or (iii) companies whose securities are not
listed on a stock exchange or traded in a secondary market. The Fund generally
invests in companies with market capitalizations within the range of
capitalizations reflected in the Salomon Global Equity Extended Market Index.
As of March 31, 2000, the Index has a weighted average market capitalization of
over $3.1 billion.
The following replaces the "Portfolio Managers" section in the Fund's
Prospectuses:
The following portfolio managers are responsible for the day-to-day management
of the Fund's investments:
Richard Curling, Director--Head of Global Small Cap, Deutsche Asset Management
Investment Services Limited and Lead Manager of the Fund.
. Joined the investment adviser in 1981.
. 18 years of investment industry experience.
. Global responsibility for UK small companies team and global small companies
team.
Jonathan Wild, Fund Manager, Deutsche Asset Management Investment Services
Limited and Co-Manager of the Fund.
. Joined the investment adviser in 1996. Prior to that, fund manager, Finsbury
Asset Management from 1988 to 1996.
. Analyst specializing in the building and construction and building materials
sectors.
. 12 years of investment industry experience.
A Member of the
Deutsche Bank Group [/]
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Marco Ricci, Fund Manager, Deutsche Asset Management Investment Services Limited
and Co- Manager of the Fund.
. Joined the investment adviser in 1997. Prior to that, analyst, Fidelity
International Limited from 1994 to 1997.
. 9 years of investment industry experience.
. Analyst specializing in smaller companies.
. MBA, University of Pennsylvania.
Ser Mui Lim, Fund Manager, Deutsche Asset Management Investment Services Limited
and Co-Manager of the Fund.
. Joined the investment adviser in 1991. Prior to that, fund manager, Deutsche
Asset Management (Asia) Limited from 1988 to 1991.
. 20 years of investment industry experience.
. Analyst specializing in small cap investments in the Asian region including
Hong Kong, Korea, Malaysia and Singapore.
Hitoshi Nishiyama, Fund Manager, Deutsche Asset Management Investment Services
Limited and Co-Manager of the Fund.
. Joined the investment adviser in 1999. Prior to that, senior fund manager,
Nomura Asset Management from 1992-1999.
. 19 years investment industry experience.
. Japanese small cap equity analyst.
Please Retain This Supplement for Future Reference
SUPP352 (6/00)
CUSIP: 61735K406
