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Residents of the United States of America:

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The Products described on this Website are only offered or sold to persons in any other jurisdiction, if applicable law permits this.

Important Information regarding the second Shareholder Rights Directive (SRD II)

Based on the second shareholder rights directive (SRD II) asset managers have to disclose certain information. Below is the summary of where to find certain information:

Engagement policy and report incl. voting, and use of proxy advisors, securities lending policy and conflicts of interest see section Solutions / ESG on www.dws.com. Integration policy incl. information on investment decision can be found here as well.
Once available, information on portfolio turnover can be found in the 'Reports and Accounts' section of the website.
Information on the portfolio composition and the turnover costs will be published in the annual report of the respective fund.

Information on the key material medium to long-term risks associated with the investments are as follow:

The investment environment in the industrialised countries is partly characterised by negative interest rates, which could potentially have unintended side effects
Central bank policy: Uncertainty about the future course of the European Central Bank (ECB) as well as the development of the US policy rate
Possible strong rises in bond yields, exacerbated by low liquidity in markets
Problems with loan defaults in some European countries and their effects on the banking sector
Uncertainty about China's economic growth and its impact on the global economy
Growth outlook in some emerging markets
Uncertainty about the consequences of Britain's withdrawal from the European Union ("Brexit")
Tensions in the euro area, particularly in relation to countries with high debt and low potential growth
Uncertainty about political developments in the European Union, as well as in some major countries
Trade dispute between the USA and Europe, China, Mexico and other countries
Geopolitical risks, for example with regard to the Middle East
High global debt levels

The DWS investment decision process enables us to identify risks and return opportunities. Our extensive research resources and teams of experienced professionals continually analyse the relevant markets as well as the political and economic environment. Furthermore, our Strategic CIO View provides a long-term outlook and orientation. In addition, the independent risk function ensures that investment decisions are taken in a disciplined and controlled way.

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