KEMPER EQUITY FUNDS/GROWTH STYLE
Kemper Aggressive Growth Fund
Kemper Technology Fund
Kemper Value + Growth Fund
SUPPLEMENT TO PROSPECTUS
DATED FEBRUARY 1, 1999
-------------------------
Effective January 1, 2000, the following disclosure replaces the (i) Annual fund
operating expenses table and (ii) expense example table in the "Fee and expense
information" section for the indicated fund:
Kemper Aggressive Growth Fund
Class A Class B Class C
------- ------- -------
Management Fee 0.38% 0.38% 0.38%
Distribution (12b-1) Fees None 0.75% 0.75%
Other Expenses* 1.28% 1.88% 1.82%
Total Annual Fund
Operating Expenses 1.66% 3.01% 3.40%
- -----------
* Includes cost of shareholder servicing, custody, and similar expenses, which
vary with fund size and other factors. "Other Expenses" are restated to
reflect changes in certain administrative and blue sky fees.
Example
Fees and expenses if you sold your shares after:
Class A Class B Class C
------- ------- -------
1 Year $734 $704 $398
3 Years $1,068 $1,230 $913
5 Years $1,425 $1,782 $1,552
10 Years $2,427 $2,716 $3,271
Fees and expenses if you did not sell your shares:
Class A Class B Class C
------- ------- -------
1 Year $734 $304 $298
3 Years $1,068 $930 $913
5 Years $1,425 $1,582 $1,552
10 Years $2,427 $2,716 $3,271
1
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Kemper Technology Fund
Class A Class B Class C
------- ------- -------
Management Fee 0.55% 0.55% 0.55%
Distribution (12b-1) Fees None 0.75% 0.75%
Other Expenses* 0.43% 0.57% 0.53%
Total Annual Fund Operating
Expenses 0.98% 1.87% 1.83%
- -----------
* Includes cost of shareholder servicing, custody, and similar expenses, which
vary with fund size and other factors. "Other Expenses" are restated to
reflect changes in certain administrative and blue sky fees.
Example
Fees and expenses if you sold your shares after:
Class A Class B Class C
------- ------- -------
1 Year $669 $590 $286
3 Years $869 $888 $576
5 Years $1,086 $1,211 $990
10 Years $1,707 $1,743 $2,148
Fees and expenses if you did not sell your shares:
Class A Class B Class C
------- ------- -------
1 Year $669 $190 $186
3 Years $869 $588 $576
5 Years $1,086 $1,011 $990
10 Years $1,707 $1,743 $2,148
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Kemper Value + Growth Fund
Class A Class B Class C
------- ------- -------
Management Fee 0.72% 0.72% 0.72%
Distribution (12b-1) Fees None 0.75% 0.75%
Other Expenses* 0.75% 0.84% 0.73%
Total Annual Fund Operating
Expenses 1.47% 2.31% 2.20%
- -----------
* Includes cost of shareholder servicing, custody, and similar expenses, which
vary with fund size and other factors. "Other Expenses" are restated to
reflect changes in certain administrative and blue sky fees.
Example
Fees and expenses if you sold your shares after:
Class A Class B Class C
------- ------- -------
1 Year $716 $634 $323
3 Years $1,013 $1,021 $688
5 Years $1,332 $1,435 $1,180
10 Years $2,231 $2,242 $2,534
Fees and expenses if you did not sell your shares:
Class A Class B Class C
------- ------- -------
1 Year $716 $234 $223
3 Years $1,013 $721 $688
5 Years $1,332 $1,235 $1,180
10 Years $2,231 $2,242 $2,534
3
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Effective December 31, 1999, the following disclosure supplements the "Portfolio
Management" section of the prospectus for Kemper Technology Fund:
James Burkart is Co-Lead Portfolio Manager of the Fund. He joined the Fund and
Scudder Kemper in 1998. He began his investment career in 1970. Prior to joining
Scudder Kemper he was an analyst and Portfolio Manger for a trust company.
Deborah Koch is Co-Lead Portfolio Manager of the Fund. She joined the Fund in
1999 and joined Scudder Kemper in 1992. She has 14 years of investment industry
experience.
January 5, 2000
