The DWS Americas website is published in the United States for investors or institutions who are residents of the United States. Investors or institutions outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this website.

The information on this website should not be construed as an offer or solicitation of securities or services or an endorsement thereof in any jurisdiction or in any circumstance that is otherwise unlawful or not authorized. The information contained on this website is not intended as investment, accounting, tax or legal advice, but to the extent may be deemed to be a financial promotion under non-U.S. jurisdictions, is provided for use by professional investors only and not for onward distribution to, or to be relied upon by, retail investors.

DWS does not represent the asset management activities conducted by Deutsche Bank AG or any of its subsidiaries.

The DWS Americas website is published in the United States for investors or institutions who are residents of the United States. Investors or institutions outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this website.

The information on this website should not be construed as an offer or solicitation of securities or services or an endorsement thereof in any jurisdiction or in any circumstance that is otherwise unlawful or not authorized. The information contained on this website is not intended as investment, accounting, tax or legal advice, but to the extent may be deemed to be a financial promotion under non-U.S. jurisdictions, is provided for use by professional investors only and not for onward distribution to, or to be relied upon by, retail investors.

DWS does not represent the asset management activities conducted by Deutsche Bank AG or any of its subsidiaries.

The DWS Americas website is published in the United States for investors or institutions who are residents of the United States. Investors or institutions outside of the United States are subject to securities and tax regulations within their applicable jurisdictions that are not addressed on this website.

The information on this website should not be construed as an offer or solicitation of securities or services or an endorsement thereof in any jurisdiction or in any circumstance that is otherwise unlawful or not authorized. The information contained on this website is not intended as investment, accounting, tax or legal advice, but to the extent may be deemed to be a financial promotion under non-U.S. jurisdictions, is provided for use by institutional investors only and not for onward distribution to, or to be relied upon by, retail investors. Products and services may be provided in various countries by the subsidiaries and joint ventures of Deutsche Bank.

For purposes of ERISA and the Department of Labor's fiduciary rule, we are relying on the sophisticated fiduciary exception in marketing our services and products, and nothing herein is intended as fiduciary or impartial investment advice unless it is provided under an existing mandate. There can be no assurance that investment objectives will be achieved. Not all products are available in all jurisdictions.

DWS does not represent the asset management activities conducted by Deutsche Bank AG or any of its subsidiaries.

Copyright © 2018 Deutsche Bank AG, Frankfurt am Main

Introduction

BEFORE ENTERING THIS WEBSITE, PLEASE READ CAREFULLY THE FOLLOWING IMPORTANT TERMS AND CONDITIONS (THE "TERMS") THAT GOVERN YOUR ACCESS TO, AND USE OF, THIS WEBSITE, AND ACKNOWLEDGE YOUR AGREEMENT TO THEM. IF YOU AGREE TO THE TERMS, CLICK "ACCEPT" AT THE END OF THESE TERMS TO ENTER THIS WEBSITE. IF YOU CLICK "LEAVE PAGE" YOU WILL NOT BE ABLE TO ACCESS THIS WEBSITE. THESE TERMS ARE A BINDING AGREEMENT BETWEEN YOU AND DWS, AND GOVERN YOUR ACCESS AND USE OF THE WEBSITE.

YOU (THE "USER") AGREE NOT TO UNDERTAKE ANY ACT OR OMISSION THAT WOULD CONSTITUTE A BREACH OF THESE TERMS AND REPRESENT AND WARRANT THAT YOU ARE LEGALLY PERMITTED TO ACCESS AND USE THE WEBSITE. 

THIS WEBSITE IS PROVIDED BY DWS (UK) LIMITED (I) ON ITS OWN BEHALF IN ITS CAPACITY AS DISTRIBUTOR OF THE FUNDS REFERRED TO ON THIS WEBSITE, (II) ON BEHALF OF DWS INVESTMENT S.A., ACTING IN ITS CAPACITY AS MANAGEMENT COMPANY OF CERTAIN FUNDS REFERRED TO ON THIS WEBSITE. EACH OF THESE ENTITIES MAY BE RESPONSIBLE FOR THE WEBSITE'S CONTENT AND ANY OF THE FUNDS AND SERVICES (INCLUDING FINANCIAL INSTRUMENTS) DESCRIBED (TOGETHER "THE WEBSITE"). 

ACCESS TO FUNDS AND SERVICES DISPLAYED ON THIS WEBSITE AND LINKED SITES HEREAFTER MAY BE RESTRICTED TO CERTAIN PERSONS OR IN CERTAIN COUNTRIES. FUNDS SHOWN ON THESE SITES SHALL NOT BE OFFERED OR SOLD TO ANY PERSONS PROHIBITED BY THE LAW IN THEIR COUNTRY OF ORIGIN OR IN ANY OTHER RELEVANT COUNTRY. COUNTRY SPECIFIC SITES LISTED ON THE PREVIOUS WEBPAGE MAY ONLY BE ACCESSED BY READERS OF THESE TERMS WHO ARE PERMANENTLY RESIDENT IN THE RELEVANT COUNTRY AND LEGALLY PERMITTED TO LOG ON TO THE RELEVANT PAGES. IN PARTICULAR U.S. PERSONS AND PERSONS RESIDENT IN OTHER COUNTRIES NOT DISPLAYED IN THE LIST ON THE PREVIOUS WEBPAGE ARE FORBIDDEN FROM VIEWING FURTHER PAGES. BY SELECTING A COUNTRY FROM THE LIST ON THE PREVIOUS WEBPAGE YOU HEREBY AFFIRM THAT YOU ARE A RESIDENT OF THAT COUNTRY. DWS SPECIFICALLY ASSUMES NO RESPONSIBILITY WHATSOEVER FOR THE DISTRIBUTION OF CONTENT OF THE WEBSITE TO INDIVIDUALS OR ENTITIES WHICH PROVIDE FALSE INFORMATION REGARDING THEIR COUNTRY OF LEGAL RESIDENCE.

THESE MATERIALS AND ANY FUNDS DESCRIBED ON THIS WEBSITE ARE NOT BEING OFFERED OR TARGETED TO U.S. PERSONS.

No offer

Nothing contained on this Website should be considered as an offer to purchase any of the funds. Consequently, the information on this Website does not constitute, and may not be used for the purposes of, an offer to acquire or sell any fund shares or units to any person in any jurisdiction. Pricing levels and valuations published on this Website are indicative and they and other information displayed on this Website are for information purposes only.

No investment advice

Information made available on this Website should not be considered as legal, tax, investment or securities advice or any form of recommendation to purchase funds or services described on this website or any opinion regarding the appropriateness of any investment. You should seek professional advice on all of the foregoing before making any investment decision.

Decisiveness of Prospectus, Supplement, Key Investor Information document or other applicable offering document (“Offering Documents”)

Offering Documents referring to a specific fund (including sub-funds) are available on this Website. Users should carefully read the information contained in such documents (including the latest version of the Key Investor Information document) before making any investment decision.

Historical performance

Past performance information (either actual or simulated) contained on this Website is not a reliable indicator of future results.

No warranties for contents

Although best efforts have been used to ensure that the information set out on this Website is reliable, no warranty is made as to its accuracy, completeness and adequacy. Any opinions expressed reflect the current view of DWS, in its capacity as distributor, which may change without notice.

Use of the Website
Changes of the Website

DWS reserves the right to partly or completely change the Website at any time and to restrict, interrupt or terminate its service.

Changes of Terms 

DWS reserves the right to modify or amend these Terms at any time. DWS invites you to consult these terms and conditions from time to time to familiarise yourself with the changes.

Copyright

Content and design of the Website are the property of DWS and are protected by copyright. Any copying, publication, reproduction, distribution, re-transmission, assigning or use of any portion of the Website or of its content requires the prior written consent of DWS Investments UK Limited.

Privacy and Cookies 

DWS respects your privacy. Personal data collected when visiting this website are processed in accordance with applicable data protection law.
You agree that where you provide your name and contact details and request information on our products, we may send you such information, including by e-mail. You can ask us at any time to stop sending such information.

By entering this website, you acknowledge and agree that DWS may place cookies on the device via which you access the site. These cookies are either strictly necessary to provide you with the services you have requested or to give us anonymised data about your use of our websites. This includes details such as the website from which you accessed our website, the duration of your visit and the pages you viewed. Such information, which will not include your name, helps us improve the performance and content of our websites. It also records (for up to a maximum of one year) which country you are interested in, and whether as a retail or professional investor. You can block or delete cookies from your computer - simply refer to the help function of your browser.

Please also read the section “Privacy Policy” and “Cookie Information” under the heading "Additional Information" on the Website for more information.

Safety of Communication

Communications over the Internet and by e-mail cannot be guaranteed to be secure. There is a risk that information contained within an e-mail communication and any attachment thereto, including potentially confidential information, may be intercepted, lost, destroyed or delayed in transmission. Although DWS will use reasonable efforts to minimise such risk, it does not warrant that any communication or e-mail or any attachments thereto, that is sent out, will be free from viruses, worms or other harmful components.

Hyperlinks

Certain hypertext links on the Website may lead the User to websites that are not under the control or charge of DWS. DWS is not responsible with respect to any material contained in or conducted through any such external websites.

Governing Law; Jurisdiction

These Terms are exclusively governed by and shall be construed in accordance with German law.

Each retail User who is not a resident of one of the countries for which the Regulation (EU) No 1215/2012 of the European Parliament and of the Council of 12 December 2012 on jurisdiction and the recognition and enforcement of judgments in civil and commercial matters (recast) is applicable, or which have entered and ratified the Convention on jurisdiction and enforcement of judgments in civil and commercial matters signed at Lugano on 30 October 2007, and all professional Users are subject to the exclusive jurisdiction of the competent court of Frankfurt am Main, Germany, in respect of any disputes arising under these Terms.

Other agreements

If at any time any provision (or part of any provision) of these Terms is, or becomes, illegal, invalid or unenforceable in any respect under the law of any jurisdiction, that shall not affect the legality, validity or enforceability in that or any other jurisdiction of any other provision (or any other part of this provision) of these Terms.

Selling restrictions

The products described on this Website are not eligible for sale in all countries. The Offering Documents contain information as to the selling restrictions applicable to any particular product and the User should read them carefully.

In particular, the following restrictions apply: 

Residents of the United States of America:

The information set out on this Website is not directed to the United States. U.S. persons (as defined in Regulation S under the U.S. Securities Act 1933) and persons resident in the U.S. may not enter the Website. Information from this Website may not be distributed or redistributed into the United States or into any jurisdiction where it is not permitted. Any securities described on this Website have not been and will not be registered under the U.S. Securities Act of 1933 as amended and trading in the securities has not been approved for purposes of the U.S. Commodities Exchange Act of 1936. The securities may not be offered or sold in the United States, to U.S. persons or U.S. residents. 

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

Additional Information

Any reference in these Terms or on the Website to “DWS” shall, unless otherwise required by the context, be understood as a reference to DWS Investments UK Limited including any of its parent companies, any of its or its parents affiliates or subsidiaries and, as the case may be, any investment companies promoted or managed by any of those entities.