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KEMPER INTERNATIONAL BOND FUND
SUPPLEMENT TO PROSPECTUS
DATED FEBRUARY 1, 1995
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FINANCIAL HIGHLIGHTS
The table below shows financial information for the Kemper International
Bond Fund expressed in terms of one share outstanding throughout the period. The
unaudited financial statements contained in the Fund's Semiannual Report to
Shareholders for the period ended June 30, 1995, are incorporated herein by
reference and may be obtained by writing or calling the Fund.
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FEBRUARY 1, 1995
TO
JUNE 30, 1995
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<S> <C>
PER SHARE OPERATING PERFORMANCE
Net asset value, beginning of period.............................................. $ 9.00
Net investment income............................................................. .02
Net realized and unrealized gain on investments and foreign currency
transactions.................................................................... .40
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Net asset value, end of period.................................................... $ 9.42
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TOTAL RETURN (%).................................................................. 4.67
RATIOS TO AVERAGE NET ASSETS (%):
Expenses.......................................................................... .94
Net investment income............................................................. 6.87
SUPPLEMENTAL DATA:
Net assets at end of period....................................................... $104,722
Portfolio turnover rate (%)....................................................... 60
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NOTE:
Ratios have been determined on an annualized basis. Total return is not
annualized.
INVESTMENT MANAGER
Kemper Financial Services, Inc., the investment manager for the Fund, has
changed its name to Zurich Kemper Investments, Inc. ("ZKI"). ZKI is an indirect
subsidiary of Zurich Insurance Company, an internationally recognized company
providing services in life and non-life insurance, reinsurance and asset
management. See "Investment Manager and Underwriter" in the prospectus.
March 15, 1996 (LOGO) printed on recycled paper
KIBF-1E 3/96
