DWS Osteuropa

Fund Investment Objectives

The objective of the investment policy of the fund DWS Osteuropa is to participate in the opportunities presented by the emerging countries of Eastern Europe, such as Hungary, Poland, the Czech Republic, Slovakia or Russia, and to generate the best possible return in euro. At least 70% of the fund's assets (after deduction of liquid assets) are invested in equities, equity certificates, convertible bonds, convertible debentures and warrant-linked bonds whose underlying warrants are for securities, participation and dividend-right certificates, and equity warrants issued by companies registered or having their principal business activity in Eastern Europe or which, as holding companies, primarily hold interests in companies that are registered in Eastern Europe. Securities from these issuers can also be listed on Eastern European or other foreign securities exchanges or traded on other regulated markets in a member country of the Organization for Economic Co-operation and Development (OECD) that operate regularly and are recognized and open to the public. A maximum of 30% of the fund's assets (after deduction of liquid assets) may be invested in equities of domestic and foreign issuers that do not satisfy the requirements of the preceding paragraph and which are listed as permissible in article 4 of the general section of the management regulations. Notwithstanding the investment limits specified in article 4 B. (n) of the management regulations concerning the use of derivatives, the following investment restrictions shall apply with regard to the investment restrictions currently applicable in individual countries of distribution: Derivatives that constitute short positions must have adequate coverage at all times and may be used exclusively for hedging purposes. Hedging is limited to 100% of the underlying instrument covering the derivative. Conversely, no more than 35% of the net value of the assets of the fund may be invested in derivatives that constitute long positions and do not have corresponding coverage.