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Bond Yields | Risks
For Institutional Investors Only
  Institutional Share Classes  
As of 01/31/2012 Cumulative Total
Returns (%)		 Average Annual Total
Returns (%)
Fund/Ticker Symbol 1 Mo. 3 Mo. YTD 1 Year 3 Year 5 Year 10 Year Since Inception Inception Date
Bond10,11,12                
K (MUCKX) 1.54 2.63 1.54 7.78 8.32 5.73 5.07 5.55 11/23/92
Y (MUCYX) 1.56 2.70 1.56 8.05 8.59 5.99 5.33 5.72 12/01/91
               
Gross Expense Ratio (%)+   Class K 1.06 Class Y 0.81
Net Expense Ratio (%)+   Class K 0.67 Class Y 0.42
Growth Opportunities*2,4,6,7                
Y (MNNYX) 6.70 2.33 6.70 -0.14 30.58 5.75 5.23 4.19 06/01/98
               
Gross Expense Ratio (%)+   Class K N/A Class Y 1.75
Net Expense Ratio (%)+   Class K N/A Class Y 1.75
Index 5001,13                
K (MUXKX) 4.49 5.12 4.49 3.39 18.49 -0.31 2.86 7.36 12/07/92
Y (MUXYX) 4.47 5.17 4.47 3.64 18.77 -0.07 3.12 8.14 12/01/91
               
Gross Expense Ratio (%)+   Class K 0.82 Class Y 0.57
Net Expense Ratio (%)+   Class K 0.82 Class Y 0.57
International Equity7,8                
K (MUIKX) 6.27 -0.07 6.27 -12.73 13.91 -4.52 5.09 5.18 11/23/92
Y (MUIYX) 6.27 0.03 6.27 -12.47 14.20 -4.28 5.35 5.41 12/01/91
               
Gross Expense Ratio (%)+   Class K 1.73 Class Y 1.47
Net Expense Ratio (%)+   Class K 1.73 Class Y 1.47
International Fund - Core Equity7,8                
I (MICIX) 7.32 1.89 7.32 -11.53 10.90 N/A N/A -8.36 08/16/07
Y (MICYX) 7.12 1.79 7.12 -11.76 10.62 N/A N/A -8.60 08/16/07
               
Gross Expense Ratio (%)+   Class I 1.51 Class K N/A Class Y 2.19
Net Expense Ratio (%)+   Class I 0.96 Class K N/A Class Y 1.22
International Small-Cap 7,8                
I (MISIX) 7.54 2.21 0.07 -0.05 0.21 N/A N/A -5.58 08/17/07
Y (MYSIX) 7.57 2.09 0.08 -0.06 0.21 N/A N/A -5.84 08/17/07
               
Gross Expense Ratio (%)+   Class I 1.35 Class K N/A Class Y 1.82
Net Expense Ratio (%)+   Class I 1.20 Class K N/A Class Y 1.46
Large-Cap Value1,3,7,9                
K (MUGKX) 3.68 4.77 3.68 -0.14 12.43 -1.86 3.60 6.66 07/05/94
Y (MUGYX) 3.75 4.82 3.75 0.13 12.68 -1.62 3.86 6.93 07/05/94
               
Gross Expense Ratio (%)+   Class K 1.66 Class Y 1.41
Net Expense Ratio (%)+   Class K 1.66 Class Y 1.41
Micro-Cap Equity2,7,9                
K (MMEKX) 6.93 10.91 6.93 5.72 25.91 -2.02 5.63 10.92 12/31/96
Y (MMEYX) 6.97 11.01 6.97 6.01 26.20 -1.78 5.88 11.26 12/26/96
               
Gross Expense Ratio (%)+   Class K 2.25 Class Y 1.99
Net Expense Ratio (%)+   Class K 2.25 Class Y 1.99
Mid-Cap Core Growth2,7                
K (MGOKX) 5.69 2.86 5.69 3.77 22.41 0.03 N/A 10.13 12/17/02
Y (MGOYX) 5.70 2.90 5.70 4.04 22.72 0.03 0.08 9.60 06/24/98
               
Gross Expense Ratio (%)+   Class K 1.35 Class Y 1.10
Net Expense Ratio (%)+   Class K 1.35 Class Y 1.10
Munder Integrity Mid-Cap Value Fund2,3                
Y (MYIMX) 0.06 0.07 0.06 N/A N/A N/A N/A -0.02 07/01/11
               
Gross Expense Ratio (%)+   Class K N/A Class Y N/A
Net Expense Ratio (%)+   Class K N/A Class Y N/A
Munder Integrity Small/Mid-Value Fund2,3                
Y (MYISX) 0.07 0.09 0.07 N/A N/A N/A N/A -0.02 07/01/11
               
Gross Expense Ratio (%)+   Class K N/A Class Y N/A
Net Expense Ratio (%)+   Class K N/A Class Y N/A
Munder Veracity Small-Cap Value***2,3,7,9                
K (MKVSX) 5.54 8.35 5.54 2.60 25.65 2.46 N/A 5.46 07/07/05
Y (VSVIX) 5.51 8.39 5.51 2.85 25.98 2.71 N/A 5.72 07/07/05
               
Gross Expense Ratio (%)+   Class K 1.81 Class Y 1.51
Net Expense Ratio (%)+   Class K 1.51 Class Y 1.26



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  Y & K Class Bond Yields Yields will Fluctuate  
As of 01/31/2012 30-Day Yield SEC (%)
Bond  
K (MUCKX) 3.74
Y (MUCYX) 3.99
Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. Investment returns will fluctuate. Performance shown includes reinvestment of dividends and capital gains. For money market funds, current earnings are more closely reflected in yields than in total returns. To obtain performance information current to the most recent month end, please visit www.munder.com.

*Performance for the Growth Opportunities Fund reflects the Fund's receipt in August, September and December 2009 of proceeds from litigation settlements and a receivable booked in December 2009 for amounts attributable to an SEC administrative proceeding and receipt of proceeds from an insurance settlement during the first six months of 2010. The Fund's performance that includes those periods was higher than it would have been absent receipt of the proceeds from the settlements and the booking of the receivable from the administrative proceeding.
***On May 13, 2011, the Fund acquired the assets and liabilities of the Veracity Small Cap Value Fund ("Veracity Fund") ("Reorganization"). The Veracity Fund was the accounting survivor of the Reorganization and the Veracity Fund's performance and financial history have been adopted by the Fund. As a result, the performance information and financial history for the periods prior to May 14, 2011 are that of the Veracity Fund. The Veracity Fund offered Class R and Class I shares, which were similar to the Fund's Class A and Class Y shares, respectively. The performance for Class A shares for periods prior to May 14, 2011 is the performance of the Veracity Fund's Class R shares. The performance for Class B, Class C and Class R shares for periods prior to May 14, 2011 is the performance of the Veracity Fund's Class I shares adjusted for differences in the applicable sales loads and Rule 12b-1 fees of each respective class.


The recent growth rate in the stock market has helped produce short-term returns for some asset classes that are not typical and may not continue in the future. Because of ongoing market volatility, Fund performance may be subject to substantial short-term changes.

+The gross and net expense ratios shown are those identified in the current Fund prospectus. Where the gross and net expense ratios for a Fund are the same, the Advisor was not limiting expenses as of the date of the prospectus. In periods of market volatility, Fund assets may decline significantly, causing a Fund’s gross expense ratio to become higher than the gross expense ratio shown in the current prospectus. Each Fund publishes Semi-Annual and Annual Reports each February and August which contain updated expense ratio information.

During one or more of the periods shown, the Advisor, the Fund, the Fund's distributor or the Fund's transfer agent waived or limited certain expenses for all Funds. The Advisor has contractually agreed to limit certain expenses of the Asset Allocation Fund – Balanced, Bond, International Fund-Core Equity, and International Small-Cap Funds through at least October 31, 2011, and of the Veracity Small-Cap Value Fund through at least October 31, 2012. All other current expense waivers or limitations are voluntary. Total returns would have been lower if expenses had not been waived or limited during these periods.

The Advisor made a capital contribution to the Growth Opportunities, Large-Cap Growth, Micro-Cap Equity and International Equity Funds during the 2005 calendar year and to the International Fund - Core Equity during the 2007 calendar year. Total returns would have been lower if capital contributions had not been made during these periods.

These Funds may offer several different classes of shares with different sales loads, fees and expense levels that affect performance. Class A, B (closed to all investors) and C shares have sales loads and fees, while Class I, K, R and Y are not subject to sales loads. More information about sales loads, fees and expense levels can be found in the Fund's prospectus.

RISKS
1Equity securities (stocks) are more volatile and carry more risk, but generally provide greater return potential, than investments in certain other securities, like high-grade fixed income securities. Large-cap stocks generally have less volatility than smaller-cap and certain specialty securities, such as technology investments.
2Micro-, small- and medium-sized company stocks are more volatile and less liquid than larger more established company securities.
3Value-based investments are subject to the risk that the broad market may not recognize their intrinsic value.
4Funds concentrated in a specific industry or sector are subject to higher market risk and price volatility than funds with more broadly diversified investments.
5The Fund invests in health care-related securities, which are subject to special risks relating to product cycles, government regulations and cost containment measures.
6Technology and Internet-related securities tend to be relatively volatile.
7The Fund may concentrate its investments in one or more economic sectors. When the Fund's investments are concentrated, market or economic factors affecting those sectors could have a significant effect on the Fund's value.
8The Fund may invest a substantial portion of its assets in the financials sector and the real estate investment trust REIT) industry. When the Fund’s investments are concentrated in one or more sectors, market or economic factors affecting those sectors could have a significant effect on the Fund’s value. REIT investments are subject to many of the risks of investing directly in real estate, such as declining real estate values, changing economic conditions and increasing interest rates.
9The Fund may invest in foreign securities, which involve additional risks due to currency fluctuations, economic and political conditions, and differences in financial reporting standards.
10The Fund may concentrate its investments in one or more countries. When the Fund’s investments are concentrated in a country or countries, market, economic, political, regulatory and other factors affecting those countries could have a significant effect on the Fund’s value.
11The Fund may invest in Initial Public Offerings (IPOs), which may involve short-term trading that can significantly affect performance and after-tax returns. We cannot assure that the Fund will obtain IPOs.
12Fixed income securities will tend to experience smaller fluctuations in value than equity securities. However, investors in any fixed income product should anticipate fluctuations in price, especially for longer-term issues and in environments of rising interest rates.
13The Fund invests in Yankee securities (dollar-denominated securities of foreign issuers), which involve additional risks due to foreign economic and political conditions and differences in financial reporting standards.
14A significant portion of the Fund is invested in mortgage-backed securities, which are subject to higher prepayment risk, particularly during periods of declining interest rates.
15A portion of the Fund’s income may be subject to state, local and/or federal alternative minimum taxes.
16Because the Fund’s goal is to invest in securities included in an index without regard to market trends, it may be particularly susceptible to a general decline in the market represented by that index.


N/A - Fund class was not in operation for that time period.

Class K shares are not available for purchase by the retail public.

Munder Funds are distributed by Funds Distributor, LLC.

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An investor should consider the Fund's investment objectives, risks, and charges and expenses carefully before sending money. The prospectus and summary prospectus contain this and other important information about the investment company. To obtain a prospectus and summary prospectus, please click here. Please read the prospectus and summary prospectuses carefully before investing.




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