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Scudder-Kemper Merges Funds

Kemper Funds of Chicago has filed a proxy with the Securities and Exchange Commission seeking to merge three of its funds with the Kemper Total Return Fund as part of the firm's initiative to change its name in 2001 to Zurich Scudder Investments.

The firm wants to consolidate its fund line-up and offer all of the funds it advises under the Scudder name, according to the proxy. Scudder Kemper Investments of Chicago is the investment adviser to the Kemper Total Return Fund.

The proxy seeks to merge the Kemper Horizon 5, the Kemper Horizon 10+ and the Kemper Horizon 20+ into the Kemper Total Return Fund, pending shareholder approval.

Kemper Horizon 5, Kemper Horizon 10+ and Kemper Horizon 20+ had total net assets of $62.4 million, $96.9 million and $94.4 million respectively, as of July 2000, according to the filing. Kemper Total Return Fund had total net assets of $3.5 billion as of October, said the filing.