KEMPER BLUE CHIP FUND
KEMPER GROWTH FUND
KEMPER SMALL CAP EQUITY FUND
KEMPER TECHNOLOGY FUND
KEMPER TOTAL RETURN FUND
SUPPLEMENT TO THE STATEMENT OF
ADDITIONAL INFORMATION DATED
FEBRUARY 1, 2000
--------------------------
Performance figures for Class B and C shares for the period May 31, 1994 through
each Fund's most recent fiscal year end reflect the actual performance of these
classes of shares. Returns for Class B and C shares for the period beginning
with the inception date of each Fund's Class A shares to May 31, 1994 are
derived from the historical performance of Class A shares, adjusted to reflect
the operating expenses applicable to Class B and C shares, which may be higher
or lower than those of Class A shares. The performance figures are also adjusted
to reflect the maximum sales charge of 5.75% for Class A shares and the maximum
current contingent deferred sales charge of 4% for Class B shares and 1% for
Class C shares.
The returns in the chart below assume reinvestment of distributions at net asset
value and represent both actual past performance figures and adjusted
performance figures of the Class B and C shares of each Fund as described above;
they do not guarantee future results. Investment return and principal value will
fluctuate so that an investor's shares, when redeemed, may be worth more or less
than their original cost.
KEMPER BLUE CHIP FUND -- AS OF OCTOBER 31, 1999*
<TABLE>
<CAPTION>
AVERAGE ANNUAL Class A Class B Class C
TOTAL RETURNS Shares Shares Shares
------------- ------ ------ ------
<S> <C> <C> <C>
Life of Class(+) 13.48% 19.37% 19.60%
Ten Years 14.41% 14.12% 14.20%
Five Years 20.72% 21.07% 21.26%
One Year 20.63% 23.83% 26.91%
</TABLE>
(+) Since November 23, 1987 for Class A shares. Since May 31, 1994 for Class B
and Class C shares.
KEMPER GROWTH FUND -- AS OF SEPTEMBER 30, 1999*
<TABLE>
<CAPTION>
AVERAGE ANNUAL Class A Class B Class C
TOTAL RETURNS Shares Shares Shares
------------- ------ ------ ------
<S> <C> <C> <C>
Life of Class(+) 12.67% 13.92% 14.26%
Ten Years 12.69% 12.16% 12.41%
Five Years 15.27% 15.32% 15.66%
One Year 27.46% 30.77% 34.19%
</TABLE>
(+) Since April 4, 1966 for Class A shares. Since May 31, 1994 for Class B and
Class C shares.
KEMPER SMALL CAP EQUITY FUND -- AS OF SEPTEMBER 30, 1999*
<TABLE>
<CAPTION>
AVERAGE ANNUAL Class A Class B Class C
TOTAL RETURNS Shares Shares Shares
------------- ------ ------ ------
<S> <C> <C> <C>
Life of Class(+) 11.91% 10.36% 10.63%
Ten Years 11.26% 10.65% 10.91%
Five Years 10.61% 10.59% 10.92%
One Year 16.86% 19.78% 23.10%
</TABLE>
(+) Since February 20, 1969 for Class A shares. Since May 31, 1994 for Class B
and Class C shares.
<PAGE>
KEMPER TECHNOLOGY FUND -- AS OF OCTOBER 31, 1999*
<TABLE>
<CAPTION>
AVERAGE ANNUAL Class A Class B Class C
TOTAL RETURNS Shares Shares Shares
------------- ------ ------ ------
<S> <C> <C> <C>
Life of Class(+) 14.27% 30.63% 30.91%
Ten Years 21.50% 21.00% 21.18%
Five Years 29.87% 30.00% 30.31%
One Year 83.48% 89.59% 92.68%
</TABLE>
(+) Since September 7, 1948 for Class A shares. Since May 31, 1994 for Class B
and Class C shares.
KEMPER TOTAL RETURN FUND -- AS OF OCTOBER 31, 1999*
<TABLE>
<CAPTION>
AVERAGE ANNUAL Class A Class B Class C
TOTAL RETURNS Shares Shares Shares
------------- ------ ------ ------
<S> <C> <C> <C>
Life of Class(+) 11.95% 13.68% 13.88%
Ten Years 12.11% 11.70% 11.75%
Five Years 15.00% 15.17% 15.38%
One Year 11.16% 13.76% 16.64%
</TABLE>
(+) Since March 2, 1964 for Class A shares. Since May 31, 1994 for Class B and
Class C shares.
* Because Class B and C shares were not introduced for each Fund until May 31,
1994, the total return for Class B and C shares for the periods prior to their
introduction is based upon the performance of Class A shares from the inception
date of each Fund's Class A shares through May 31, 1994. Actual performance of
Class B and C shares is shown beginning May 31, 1994.
September 29, 2000
