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VAN KAMPEN AMERICAN CAPITAL
REAL ESTATE SECURITIES FUND
SUPPLEMENT DATED NOVEMBER 2, 1995, TO THE
STATEMENT OF ADDITIONAL INFORMATION DATED AUGUST 21, 1995.
The section of the Statement of Additional Information captioned "Fund
Performance" is hereby supplemented as follows:
The Fund's primary investment objective is to provide long-term growth of
capital by investing principally in securities of companies in the real
estate industry. In addition, Fund attempts to remain fully invested to
achieve consistent long-term performance. Investment real estate is an
asset class that often is overlooked by investors. Now, with many real
estate investment trusts being publicly traded, investors have an
opportunity to add this important asset to their portfolios.
From time to time marketing materials may provide a portfolio manager
update on the Fund or discuss general economic conditions. The top 10
holdings of the Fund may also be listed in marketing pieces.
