-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, KxBreMxY44l5S/4nd8praH/o6wi2rsdTJktvKXOGLVQplr3CNDL2ep/0ydZGJXSY 9hkDQSnr0y7RtgfVbOX6uQ== 0000950124-96-005666.txt : 19961231 0000950124-96-005666.hdr.sgml : 19961231 ACCESSION NUMBER: 0000950124-96-005666 CONFORMED SUBMISSION TYPE: 497 PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19961230 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: KEMPER ADJUSTABLE RATE U S GOVERNMENT FUND CENTRAL INDEX KEY: 0000814955 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 363528556 STATE OF INCORPORATION: MA FISCAL YEAR END: 0831 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 033-14832 FILM NUMBER: 96687855 BUSINESS ADDRESS: STREET 1: 120 S LASALLE ST CITY: CHICAGO STATE: IL ZIP: 60603 BUSINESS PHONE: 3127811121 FORMER COMPANY: FORMER CONFORMED NAME: KEMPER GOVERNMENT INCOME TRUST DATE OF NAME CHANGE: 19870811 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KEMPER INCOME & CAPITAL PRESERVATION FUND INC CENTRAL INDEX KEY: 0000055185 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 362797860 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-45481 FILM NUMBER: 96687856 BUSINESS ADDRESS: STREET 1: 120 S LASALLE ST CITY: CHICAGO STATE: IL ZIP: 60603 BUSINESS PHONE: 3127811121 FORMER COMPANY: FORMER CONFORMED NAME: KEMPER INCOME SECURITIES INC DATE OF NAME CHANGE: 19740214 FORMER COMPANY: FORMER CONFORMED NAME: SUPERVISED INVESTORS CONVERTIBLE FUND IN DATE OF NAME CHANGE: 19721106 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KEMPER U S GOVERNMENT SECURITIES FUND CENTRAL INDEX KEY: 0000202163 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 163060398 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-57937 FILM NUMBER: 96687857 BUSINESS ADDRESS: STREET 1: 120 S LASALLE ST CITY: CHICAGO STATE: IL ZIP: 60603 BUSINESS PHONE: 3127811121 MAIL ADDRESS: STREET 1: 120 S. LASALLE STREET CITY: CHICAGO STATE: IL ZIP: 60603 FORMER COMPANY: FORMER CONFORMED NAME: KEMPER FUND FOR GOVERNMENT GUARANTEED SECURITIES INC DATE OF NAME CHANGE: 19820421 FORMER COMPANY: FORMER CONFORMED NAME: INCOME TRUST FOR U S GOVERNMENT GUARANTEED SECURITIES DATE OF NAME CHANGE: 19791010 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KEMPER DIVERSIFIED INCOME FUND CENTRAL INDEX KEY: 0000216314 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 362921989 STATE OF INCORPORATION: MA FISCAL YEAR END: 1031 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-58921 FILM NUMBER: 96687858 BUSINESS ADDRESS: STREET 1: 120 S LASALLE ST CITY: CHICAGO STATE: IL ZIP: 60603 BUSINESS PHONE: 3127811121 FORMER COMPANY: FORMER CONFORMED NAME: KEMPER OPTION INCOME FUND DATE OF NAME CHANGE: 19890622 FORMER COMPANY: FORMER CONFORMED NAME: KEMPER OPTION INCOME FUND INC DATE OF NAME CHANGE: 19870120 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KEMPER HIGH YIELD FUND CENTRAL INDEX KEY: 0000225528 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 362955386 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-60330 FILM NUMBER: 96687859 BUSINESS ADDRESS: STREET 1: 120 S LASALLE ST CITY: CHICAGO STATE: IL ZIP: 60603 BUSINESS PHONE: 3127811121 FORMER COMPANY: FORMER CONFORMED NAME: KEMPER HIGH YIELD FUND INC DATE OF NAME CHANGE: 19871117 FILER: COMPANY DATA: COMPANY CONFORMED NAME: KEMPER PORTFOLIOS CENTRAL INDEX KEY: 0000701638 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] IRS NUMBER: 363534358 STATE OF INCORPORATION: MA FISCAL YEAR END: 0731 FILING VALUES: FORM TYPE: 497 SEC ACT: 1933 Act SEC FILE NUMBER: 002-76806 FILM NUMBER: 96687860 BUSINESS ADDRESS: STREET 1: 120 S LASALLE ST CITY: CHICAGO STATE: IL ZIP: 60603 BUSINESS PHONE: 3127811121 FORMER COMPANY: FORMER CONFORMED NAME: KEMPER INVESTMENT PORTFOLIOS DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: INVESTMENT PORTFOLIOS INC DATE OF NAME CHANGE: 19911001 FORMER COMPANY: FORMER CONFORMED NAME: CASH ACCOUNT FUND INC DATE OF NAME CHANGE: 19831020 497 1 497 1 KEMPER FIXED INCOME FUNDS SUPPLEMENT TO PROSPECTUS DATED DECEMBER 20, 1996 CLASS I SHARES KEMPER ADJUSTABLE RATE U.S. GOVERNMENT FUND KEMPER CASH RESERVES FUND KEMPER DIVERSIFIED INCOME FUND KEMPER U.S. GOVERNMENT SECURITIES FUND KEMPER HIGH YIELD FUND KEMPER INCOME AND CAPITAL PRESERVATION FUND KEMPER U.S. MORTGAGE FUND KEMPER SHORT-INTERMEDIATE GOVERNMENT FUND Kemper Adjustable Rate U.S. Government Fund (the "Adjustable Rate Fund"), Kemper Cash Reserves Fund (the "Cash Reserves Fund"), Kemper Diversified Income Fund (the "Diversified Fund"), Kemper U.S. Government Securities Fund (the "Government Fund"), Kemper High Yield Fund (the "High Yield Fund"), Kemper Income and Capital Preservation Fund (the "Income and Capital Fund"), Kemper U.S. Mortgage Fund (the "Mortgage Fund") and Kemper Short-Intermediate Government Fund (the "Short-Intermediate Government Fund") (collectively, the "Funds") currently offer four classes of shares to provide investors with different purchasing options. These are Class A, Class B and Class C shares, which are described in the prospectus, and Class I shares, which are described in the prospectus as supplemented hereby. Class I shares are available for purchase exclusively by the following investors: (a) tax-exempt retirement plans of Zurich Kemper Investments, Inc. ("ZKI") and its affiliates; and (b) the following investment advisory clients of ZKI and its investment advisory affiliates (including Zurich Investment Management, Inc.) that invest at least $1 million in a Fund: (1) unaffiliated benefit plans, such as qualified retirement plans (other than individual retirement accounts and self-directed retirement plans); (2) unaffiliated banks and insurance companies purchasing for their own accounts; and (3) endowment funds of unaffiliated non-profit organizations. Class I shares currently are available for purchase only from Kemper Distributors, Inc., principal underwriter for the Funds. Share certificates are not available for Class I shares. The primary distinctions among the classes of each Fund's shares lie in their initial and contingent deferred sales charge schedules and in their ongoing expenses, including asset-based sales charges in the form of Rule 12b-1 distribution fees. Class I shares are offered at net asset value without an initial sales charge and are not subject to a contingent deferred sales charge or a Rule 12b-1 distribution fee. Also, there is no administrative services fee charged to Class I shares. As a result of the relatively lower expenses for Class I shares, the level of income dividends per share (as a percentage of net asset value) and, therefore, the overall investment return, will be higher for Class I shares than for Class A, Class B and Class C shares. 2 The following information supplements the indicated sections of the prospectus. SUMMARY OF EXPENSES
SHAREHOLDER TRANSACTION EXPENSES (APPLICABLE TO ALL FUNDS) CLASS I Maximum Sales Charge on Purchases (as a percentage of offering price)...................................................... None Maximum Sales Charge on Reinvested Dividends............................................... None Redemption Fees............................................................................ None Exchange Fee............................................................................... None Deferred Sales Charge (as a percentage of redemption proceeds)............................. None
ANNUAL FUND INCOME SHORT- OPERATING EXPENSES ADJUSTABLE CASH HIGH AND INTERMEDIATE (as a percentage of average RATE RESERVES DIVERSIFIED GOVERNMENT YIELD CAPITAL MORTGAGE GOVERNMENT net assets) FUND FUND FUND FUND FUND FUND FUND FUND ---------- -------- ----------- ---------- ----- ------ -------- ------------ Management Fees............. .55% .40% .56% .41% .53% .53% .50% .55% 12b-1 Fees.................. None None None None None None None None Other Expenses (estimated)............... .15% .15% .71% .18% .08% .19% .15% .15% ---- ---- ---- ---- ---- ---- ---- ---- Total Operating Expenses.... .70% .55% 1.27% .59% .61% .72% .65% .70% ==== ==== ==== ==== ==== ==== ==== ====
1 3 5 10 EXAMPLE FUND YEAR YEARS YEARS YEARS - ---------------------------------------- ------------------------------- ---- ----- ----- ----- You would pay the following expenses on Adjustable Rate................ $ 7 $22 $39 $ 87 a $1,000 investment, assuming (1) 5% Cash Reserves.................. $ 6 $18 $31 $ 69 annual return and (2) redemption at the Diversified.................... $13 $40 $70 $ 153 end of each time period: Government..................... $ 6 $19 $33 $ 74 High Yield..................... $ 6 $20 $34 $ 76 Income and Capital............. $ 7 $23 $40 $ 89 Mortgage....................... $ 7 $21 $36 $ 81 Short-Intermediate Government..................... $ 7 $22 $39 $ 87
The purpose of the preceding table is to assist investors in understanding the various costs and expenses that an investor in Class I shares of a Fund will bear directly or indirectly. "Other Expenses" for Class I shares have been estimated for the current fiscal year for the following funds: Adjustable Rate, Cash Reserves, Mortgage and Short-Intermediate. The Example assumes a 5% annual rate of return pursuant to requirements of the Securities and Exchange Commission. This hypothetical rate of return is not intended to be representative of past or future performance of any Fund. THE EXAMPLE SHOULD NOT BE CONSIDERED TO BE A REPRESENTATION OF PAST OR FUTURE EXPENSES. ACTUAL EXPENSES MAY BE GREATER OR LESSER THAN THOSE SHOWN. 2 3 FINANCIAL HIGHLIGHTS No financial information is presented for Class I shares of the Adjustable Rate Fund, Cash Reserves Fund, Mortgage Fund and the Short-Intermediate Government Fund since no Class I shares had been issued as of such Funds' fiscal year end. DIVERSIFIED FUND
NOVEMBER 22, 1995 TO OCTOBER 31, 1996 ------------ PER SHARE OPERATING PERFORMANCE: Net asset value, beginning of period $ 5.98 - ------------------------------------------------------------------------------------------------------------------------ Income from investment operations: Net investment income .45 - ------------------------------------------------------------------------------------------------------------------------ Net realized and unrealized gain on investments and foreign currency .12 - ------------------------------------------------------------------------------------------------------------------------ Total from investment operations .57 - ------------------------------------------------------------------------------------------------------------------------ Less distribution from net investment income .55 - ------------------------------------------------------------------------------------------------------------------------ Net asset value, end of period $ 6.00 - ------------------------------------------------------------------------------------------------------------------------ TOTAL RETURN (NOT ANNUALIZED): 10.01% - ------------------------------------------------------------------------------------------------------------------------ RATIOS TO AVERAGE NET ASSETS (ANNUALIZED): Expenses 1.27% - ------------------------------------------------------------------------------------------------------------------------ Net investment income 7.48 - ------------------------------------------------------------------------------------------------------------------------
GOVERNMENT FUND
YEAR ENDED JULY 3 TO OCTOBER 31, OCTOBER 31, 1996 1995 ----------- ----------- PER SHARE OPERATING PERFORMANCE: Net asset value, beginning of period $8.92 8.88 - ------------------------------------------------------------------------------------------------------------------------ Income from investment operations: Net investment income .64 .22 - ------------------------------------------------------------------------------------------------------------------------ Net realized and unrealized gain (.17) .04 - ------------------------------------------------------------------------------------------------------------------------ Total from investment operations .47 .26 - ------------------------------------------------------------------------------------------------------------------------ Less distribution from net investment income .65 .22 - ------------------------------------------------------------------------------------------------------------------------ Net asset value, end of period $8.74 8.92 - ------------------------------------------------------------------------------------------------------------------------ TOTAL RETURN (NOT ANNUALIZED): 5.56% 3.02 - ------------------------------------------------------------------------------------------------------------------------ RATIOS TO AVERAGE NET ASSETS (ANNUALIZED): Expenses .59% .53 - ------------------------------------------------------------------------------------------------------------------------ Net investment income 7.35 7.07 - ------------------------------------------------------------------------------------------------------------------------
3 4 HIGH YIELD FUND
DECEMBER 29, YEAR ENDED 1994 TO SEPTEMBER 30, SEPTEMBER 30, 1996 1995 ------------- ------------- PER SHARE OPERATING PERFORMANCE: Net asset value, beginning of period $ 8.01 7.55 - ------------------------------------------------------------------------------------------------------------------------ Income from investment operations: Net investment income .78 .66 - ------------------------------------------------------------------------------------------------------------------------ Net realized and unrealized gain .23 .39 - ------------------------------------------------------------------------------------------------------------------------ Total from investment operations 1.01 1.05 - ------------------------------------------------------------------------------------------------------------------------ Less distribution from net investment income .79 .59 - ------------------------------------------------------------------------------------------------------------------------ Net asset value, end of period $ 8.23 8.01 - ------------------------------------------------------------------------------------------------------------------------ TOTAL RETURN (NOT ANNUALIZED): 13.32% 14.37 - ------------------------------------------------------------------------------------------------------------------------ RATIOS TO AVERAGE NET ASSETS (ANNUALIZED): Expenses .61% .61 - ------------------------------------------------------------------------------------------------------------------------ Net investment income 9.72 10.70 - ------------------------------------------------------------------------------------------------------------------------
INCOME AND CAPITAL FUND
YEAR ENDED JULY 3 TO OCTOBER 31, OCTOBER 31, 1996 1995 ----------- ----------- PER SHARE OPERATING PERFORMANCE: Net asset value, beginning of period $8.61 8.52 - ------------------------------------------------------------------------------------------------------------------------ Income from investment operations: Net investment income .60 .19 - ------------------------------------------------------------------------------------------------------------------------ Net realized and unrealized gain (.15) .12 - ------------------------------------------------------------------------------------------------------------------------ Total from investment operations .45 .31 - ------------------------------------------------------------------------------------------------------------------------ Less distribution from net investment income .61 .22 - ------------------------------------------------------------------------------------------------------------------------ Net asset value, end of period $8.45 8.61 - ------------------------------------------------------------------------------------------------------------------------ TOTAL RETURN (NOT ANNUALIZED): 5.45% 3.65 - ------------------------------------------------------------------------------------------------------------------------ RATIOS TO AVERAGE NET ASSETS (ANNUALIZED): Expenses .72% .62 - ------------------------------------------------------------------------------------------------------------------------ Net investment income 7.14 6.87 - ------------------------------------------------------------------------------------------------------------------------
SPECIAL FEATURES Shareholders of a Fund's Class I shares may exchange their shares for (i) shares of Kemper Money Funds--Kemper Money Market Fund if the shareholders of Class I shares have purchased shares because they are participants in tax-exempt retirement plans of ZKI and its affiliates and (ii) Class I shares of any other "Kemper Mutual Fund" listed under "Special Features--Class A Shares--Combined Purchases" in the prospectus. Conversely, shareholders of Kemper Money Funds--Kemper Money Market Fund who have purchased shares because they are participants in tax-exempt retirement plans of ZKI and its affiliates may exchange their shares for Class I shares of "Kemper Mutual Funds" to the extent that they are available through their plan. Exchanges will be made at the relative net asset values of the shares. Exchanges are subject to the limitations set forth in the prospectus under "Special Features--Exchange Privilege--General." December 20, 1996 KFIF-1I (12/96) 4 -----END PRIVACY-ENHANCED MESSAGE-----