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<PAGE> Deutsche Asset Management High Yield Bond Investment Class and Institutional Class Supplement dated October 31, 2000 (Replacing Supplement dated October 24, 2000) to Prospectuses dated February 28, 2000 This supplement serves to retract the language included in the supplement dated October 24, 2000. A Member of the Morgan Grenfell Investment Trust Deutsche Bank Group [LOGO] CUSIPs: 61735K596 61735K646
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